·Government denies 10% cut in gas price
Govt denies 10% cut in gas price, says it's 'mere speculation' – Neutral for Reliance and ONGC .The Petroleum Ministry was still computing a new domestic natural gas price, to be effective from April 1, dismissing reports of a likely 10% cut in gas prices.
·Government may strip RBI of power to regulate bonds
As per media reports, government plans to strip its RBI of authority to regulate government bonds but leave it in charge of other money market instruments. According to finance ministry this is part of an overhaul intended to expand bond markets by attracting retail investors and improve the transmission of monetary policy.
·L&T secures orders worth Rs1255 cr in March 2015
Larsen & Toubro ( L&T) announced that its construction arm has won orders worth Rs1255 crore across various business segments in March 2015. The buildings & factories business has secured orders worth Rs825 crore while power transmission & distribution business has won orders worth Rs430 crore.
·Rajesh Exports secures export order from UAE
Rajesh Exports has bagged an export order worth Rs 1265 crore of designer range of gold and diamond studded jewellery and medallions from M/s Al Sultan Jewellery, UAE. The order is to be completed by May 31, 2015.
·Oil India gains as Kotak upgrades to BUY
Shares of Oil India surged over 6%, touching to Rs508.25, as Kotak Securities has upgraded the stock to Buy’ from Add. Kotak Securities says that we believe stock is discounting a fairly bleak scenario of no improvement in net crude realisations after subsidy burden .Inexpensive valuations and good dividend yield of 5% will provide adequate support on downside, it says. According to reports, we believe the valuation gap between Oil India and ONGC may narrow over the next 12 months.
·Government starts process to sell 10% in NTPC
The central government has floated a Cabinet note to start the process of selling 10 percent stake in NTPC. The share sale should fetch it about Rs12500 crore at current prices.The government may offer a 5% discount for retail investors on the price it would offer in the stake sale, discounts for institutional investors may be included too. The government currently owns 74.96% stake in NTPC.
·Nectar Life science honours as the fastest growing pharma company
Nectar Life science announced that it has been chosen as the Fastest Growing Pharmaceutical in 2014 by CNBC TV-18 in partnership with State Bank of India during the 5th edition of international trade awards held in Ludhiana. The advisors for this award were ICRA. The citation was awarded under the Aegis of Export Import Forum of India.
·Lupin gets USFDA approvals for Celebrex
As per media report, Lupin has got USFDA approvals for generic version of Celebrex (Celecoxib) capsules in 100 mg, 200 mg, 400 mg strength. Earlier, the company had received the Celecoxib capsules in 50mg strength. The brand market size of the drug is pegged at US$2.5bn. However, presence of competitiotrs like Teva, Mylan and Watson is set to intensify competition.
Govt denies 10% cut in gas price, says it's 'mere speculation' – Neutral for Reliance and ONGC .The Petroleum Ministry was still computing a new domestic natural gas price, to be effective from April 1, dismissing reports of a likely 10% cut in gas prices.
·Government may strip RBI of power to regulate bonds
As per media reports, government plans to strip its RBI of authority to regulate government bonds but leave it in charge of other money market instruments. According to finance ministry this is part of an overhaul intended to expand bond markets by attracting retail investors and improve the transmission of monetary policy.
·L&T secures orders worth Rs1255 cr in March 2015
Larsen & Toubro ( L&T) announced that its construction arm has won orders worth Rs1255 crore across various business segments in March 2015. The buildings & factories business has secured orders worth Rs825 crore while power transmission & distribution business has won orders worth Rs430 crore.
·Rajesh Exports secures export order from UAE
Rajesh Exports has bagged an export order worth Rs 1265 crore of designer range of gold and diamond studded jewellery and medallions from M/s Al Sultan Jewellery, UAE. The order is to be completed by May 31, 2015.
·Oil India gains as Kotak upgrades to BUY
Shares of Oil India surged over 6%, touching to Rs508.25, as Kotak Securities has upgraded the stock to Buy’ from Add. Kotak Securities says that we believe stock is discounting a fairly bleak scenario of no improvement in net crude realisations after subsidy burden .Inexpensive valuations and good dividend yield of 5% will provide adequate support on downside, it says. According to reports, we believe the valuation gap between Oil India and ONGC may narrow over the next 12 months.
·Government starts process to sell 10% in NTPC
The central government has floated a Cabinet note to start the process of selling 10 percent stake in NTPC. The share sale should fetch it about Rs12500 crore at current prices.The government may offer a 5% discount for retail investors on the price it would offer in the stake sale, discounts for institutional investors may be included too. The government currently owns 74.96% stake in NTPC.
·Nectar Life science honours as the fastest growing pharma company
Nectar Life science announced that it has been chosen as the Fastest Growing Pharmaceutical in 2014 by CNBC TV-18 in partnership with State Bank of India during the 5th edition of international trade awards held in Ludhiana. The advisors for this award were ICRA. The citation was awarded under the Aegis of Export Import Forum of India.
·Lupin gets USFDA approvals for Celebrex
As per media report, Lupin has got USFDA approvals for generic version of Celebrex (Celecoxib) capsules in 100 mg, 200 mg, 400 mg strength. Earlier, the company had received the Celecoxib capsules in 50mg strength. The brand market size of the drug is pegged at US$2.5bn. However, presence of competitiotrs like Teva, Mylan and Watson is set to intensify competition.
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