Thursday, August 27, 2015
TOP CORPORATE NEWS-27 Aug 2015
Aurobindo receives final approval from USFDA for Entecavir
Aurobindo Pharma has received the final approval from the US Food & Drug Administration ( USFDA) to manufacture and market Entecavir Tablets. Entecavir Tablets are indicated for treatment of chronic hepatitis B virus infection of the liver. The product has an estimated market size of US$294 Million (around Rs2000 crore) for the twelve months ending June 2015 according to IMS.
Bank of Maharashtra up as board to consider fund raising proposal
Shares of Bank of Maharashtra rose nearly 2%, touching to Rs34.9, after the bank board meeting to be held on September 01, 2015, to consider raising of equity capital by way of preference allotment to Government of India. Adding further the Bank have received a notice from the General Secretaries of Workmen Unions/ Associations i.e. NOBO, NOBW, AIBEA, AIBOA, BEFI, INBOC, INBEF informing their decision to go on a one day All India General Strike on September 02, 2015, in support of their demands.
Sun TV Network ties up with HOOQ for delivery of movies
Sun TV Network ties up with HOOQ for delivery of movies of their premium VOD service. Sun TV Network has tied up with the largest catalogue of the premium movies from south partners with HOOQ, Asia’s biggest premium video –on – demand service in a multi-year deal. Sun TV wants their customers to continue to enjoy the largest and best catalogue of Hollywood and Indian content of any services.
HDFC Life plans IPO to sell 25% stake for Rs6000 crore
HDFC Life plans IPO to sell 25% stake for Rs6000 crore – Positive read thru for HDFC. HDFC life proposes to sell 25% stake in HDFC life, a JV between HDFC and Standard Life, to raise Rs6000 crore in early FY17.
The JV partner Standard Life already plans to raise stake up to 35% in the company.
Cairn India to invest Rs1,400 crore to raise capacity
Cairn India is set to expand its crude oil and natural gas carrying capacity by laying a new gas pipeline from its Barmer (Rajasthan) field with an investment outlay of Rs1,400 crore. With this expansion crude oil output would be expanded from 200,000 bopd (barrels of oil per day) to 300,000 bopd and natural gas carrying capacity from 6.3 mmscfd (million standard cubic feet per day) to 40 mmscfd.
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