TOP CORPOARTE NEWS-19 Mar 2015

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.

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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