M&M targeting to double market share in commercial vehicle space
M&M targeting to double market share in the commercial vehicle space; to invest Rs500cr in product development. Mahindra & Mahindra is targeting to double its market share in the commercial vehicle (CV) segment. The company currently has 2.5% market share and targets 5-6% share in the next 2-3 years. The company will be investing Rs 500 crore for product development and will focus on the 5-16 tonne segment to expand its presence.
Alstom T&D bags orders worth Rs140.3 crore from Odisha
Alstom T&D India has bagged orders worth Rs140.3 crore from Odisha Power Transmission Corporation for supply of air insulated and gas insulated substations. – Positive for Alstom T&D India.
McNally Bharat JV SPV wins contract worth Rs 2048 cr
McNally Bharat Engineering Company announced that the Company in its recently formed 50 : 50 SPV with EMC Group in Muscat, Sultanate of Oman, received a contract for Construction, detailed engineering, construction supervision, mechanical commissioning and supply for a value of US$ 315 million (Rs. 2048 crore approximately) from Sohar Bitumen LLC in Oman for their Bitumen Refinery in Sohar, Muscat, Sultanate of Oman.
L&T plans to list five operational road assets through InvIT
Larsen and Toubro Ltd (L&T) plans to list five operational road assets through an infrastructure investment trust (InvIT), a new structure cleared by the capital market regulator to ease access to funds for infrastructure developers. Out of the total 17 operational projects under L&T IDPL, it could launch 5 projects under this process by April 2016 as per media reports. The report suggest that L&T expects to raise more than Rs2,000 crore through this process.
Pharma majors get USFDA approval for Memantine Hydrochloride
Aurobindo Pharma, Torrent Pharma, Alembic Pharma, Unichem Labs & Jubilant life science get USFDA approval for Memantine Hydrochloride, generic for Namenda – Positive for all companies as it could add Rs 50-75 crore of sales for each player depending on the market share they can garner. ( Sun Pharma, Dr Reddy’s, Mylan, Teva, Lupin, Amneal & Wockhardt are players already present in the market).