Lupin launches branded product-Zaxine in Canada
Lupin has launched its first Brand product Zaxine under a strategic licensing agreement with the US based Salix Pharmaceuticals Inc. The agreement grants Lupin exclusive rights to promote, distribute and market Zaxine in the Canada. Zaxine 550mg (rifaximin) is a long term antibiotic treatment for liver disease (cirrhosis). Lupin is in the process of establishing its Canadian presence and the launch opens up growth opportunities for the future.
Reliance to Restart all fuel pump outlets by March 2016
Reliance Industries Ltd has restarted 320 fuel outlets and been plans to restart its entire 1,400 retail fuel pump outlets in fiscal year ending March 2016, after the deregulation diesel. The stations were closed in 2008 due to high crude prices and the government's subsidy to state fuel retailers knocked privately-owned retailers out of the market. Reliance took a significant share away from the state companies in 2006.
LIC Housing Finance Q4 asset quality improves
LIC Housing reported 2.2% YoY growth in profits mainly due to higher tax rates (34.2% Vs 29.6% in Q4FY14 due to deferred tax liability).However, the operating performance was strong as net interest income grew by 22% YoY contributed by 19% YoY% growth in loans and expansion of net interest margins which improved on sequential basis to 2.47% from 2.2%. The operating expenses grew by 19.4% YoY ( higher than expected) which had some impact on profit growth. Asset quality continued improving trend as gross NPAs declined to 0.46% from 0.57% in Q4FY15.
Sugar prices to remain under stress because of supply glut
Sugar prices to remain under stress because of supply glut. Domestic output expected to increase 4.5% YoY during SY15 to 25.5mt - Sentimentally negative for Sugar stocks
SEBI takes DLF to Supreme Court
SEBI has moved the Supreme Court, challenging a tribunal order in the matter of disclosure norm violations by real estate major DLF. The regulator filed its appeal last week and has sought an early hearing.
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