Top Corporate News:- 15 Jan 2018

top corporate news
Top Headlines Of The Day:- 15 Jan 2018

Aurobindo Pharma to diversify its product pipeline to fuel growth
Larsen Toubro Construction has won an order worth Rs1310cr
HDFC touches record high on Rs13,000cr fundraising plan
Hathway Cable stock jumps 16% after block deals
Lupin forays into the OTC segment with Softovac

Aurobindo Pharma to diversify its product pipeline to fuel growth
Aurobindo Pharma (Aurobindo) has indicated of diversifying its product pipeline by focussing on R&D, manufacturing and supply chains over the next three years i.e. FY19E-21E. Company plans to increase ANDA filings in oncology, respiratory, topical and injectable drugs in the US market. It also expects to launch first set of biosimilars and vaccines during this period.
Post 2022E, Aurobindo expects to launch products like inhalers, transdermals, biosimilars, etc. as well as OTC products in the advanced markets.
Over the past several years, the company has been focussing on R&D, which is reflected in its total R&D spending (as a percent of revenue) going up from 3.3% in FY14 to 4.3% in FY17. In the first half of the current fiscal, its R&D spend was 4.4% of revenue.

Larsen Toubro Construction has won an order worth Rs1310cr
Larsen Toubro Construction has won an order worth Rs1310crL&T construction’s three business units namely Water & Effluent treatment, Buildings & Factories, and Power Transmission & Distribution have won orders aggregating up to Rs1310cr.
Water & Effluent treatment business has won orders worth Rs631cr. The order has been secured from the government of Bihar which includes survey, review of designs, redesign and build the new sewerage network 172km length, design and construct four pumping contractors and all appurtenant structures. Another order has been bagged from the government of Karnataka for the execution of a lift irrigation system.
Buildings and Factories business has won an order worth Rs340cr. The order has been awarded by a leading developer to construct an IT park at Chennai within the stringent timeline.

HDFC touches record high on Rs13,000cr fund raising plan
Shares of Housing Development Finance Corp extended gains to the third consecutive session and rose ~6% to a lifetime high of Rs1,878 on the company’s plan to raise up to Rs13,000cr to maintain its current shareholding in HDFC Bank.
“The key objective of raising capital is to participate in the preferential issue of HDFC Bank Ltd up to an amount not exceeding Rs8, 500cr. This would enable the corporation to maintain its current shareholding in HDFC Bank,” HDFC said in a release on Saturday.
The committee of directors of HDFC has approved raising Rs11, 104cr through preferential allotment of shares to 10 investors and Rs1896cr through a qualified institutional placement.

Hathway Cable stock jumps 16% after block deals
Shares of Hathway Cable & Datacom hit over a six-month high backed by large deals at Rs45.50-48.70. Nearly 17 mn shares changed hands on the NSE versus a daily average of 807,425 shares, while on the BSE, nearly 8 mn shares were traded vs the daily average of 217,488 shares.
Hathway Cable and Datacom Limited is one of the largest Multi System Operator (MSO) and Cable Broadband service providers in India.

Lupin forays into the OTC segment with Softovac
Pharma major, Lupin has made a foray into the over-the-counter (OTC) segment under the ‘Lupin Life Consumer Healthcare’ umbrella with the pan-India launch of Softovac. A 34-year old legacy brand, Softovac has been trusted by millions of consumers who suffer from constipation and irregular bowel habits.
Pegged at over Rs18, 862cr as on 2016 as per Nicholas Hall 2017 report, the Indian OTC market is expected to grow at a CAGR of 9% to cross the Rs44, 115cr mark by 2026. Softovac’s shift to OTC was piloted in West Bengal during which the brand witnessed a growth in sales of over 25%, and post the success of the pilot, a pan-India roll-out was initiated.

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