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Friday, June 12, 2015

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Reliance Infra subsidiary refinances Rs1650 crore
Mumbai Metro One Private Limited (MMOPL), a subsidiary of Reliance Infrastructure Ltd., has completed the refinancing of project borrowings of Rs1,650 crore, achieving substantial benefits through extension of maturity and reduction of interest costs. The interest rate stands reduced from 13% to 11.75% annually.

Hardy Oil and Gas in talks to acquire RIL’s complete stake
Hardy Oil and Gas in talks to acquire RIL’s complete stake in gas discovery block in western offshore – Positive for Reliance Industries. British firm Hardy Oil and Gas is in talks to acquire RIL's complete 90% stake in a gas discovery block in the western offshore off Gujarat. The general commercial terms have been agreed and a draft farm out agreement is under review by both parties.
                                                                                     
Lupin gets USFDA approvals for Celecoxib
Lupin gets USFDA approvals for anti-inflammatory drug Celecoxib (positive)Lupin gets USFDA approvals for CELECOXIB, which is generic version of CELEBREX marketed by GD SEARLE in US.
Maharashtra government proposes cut in stamp duty
The Maharashtra government is planning to bring down the stamp duty rates for individuals belonging to the EWS (Economically Weaker Section) category. Following are the key proposals:A stamp duty of 1% is proposed to be levied on a property that measures 269 square feet in carpet area, if purchased by individuals who fall under the EWS category.

World Bank to extend $600 mn loan to PGCIL
World Bank to extend a $600 mn loan to  PGCIL to fund a its 1,700 km long transmission line – Project ordering could start in Q3; potential positive for KPTL, KEC and L&T. The World Bank will be extending a $600 million loan to  Power Grid for funding its 1,700 km long ultra high voltage transmission line from Chhattisgarh to Kerala, as per media reports.

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