M&M to launch ‘TUV3OO’ on 10th September
Mahindra & Mahindra will be launching its compact sports utility vehicle ‘ TUV3OO’ on 10th September. Positive for the company.
Tata Global Beverages to spend Rs150 crore in FY16
Tata Global Beverages is planning to do a capex of Rs150 crore on a consolidated basis in FY2016. Tetley, Tata Tea, EOC Coffee and Himalayan are the key brands on which the company is focusing and would continue to invest in them for its future growth prospects.
Cipla drops post Q1FY2016 results
Shares of Cipla dropped 4% to Rs713.25 on NSE post Q1FY2016 result despite one off that led to sharp increase in earnings (up 121% YoY). The Company reported revenue growth of 42% YoY to Rs3853 crore which was largely driven by sharp increase in exports on back of one off during the quarter which will not be sustainable going ahead.
Allcargo Logistics acquire two vessels
Allcargo Logistics has acquired two additional vessels aggregating 24,000 deadweight tonnage for an undisclosed amount for its coastal shipping business.
With this, Allcargo owns five cargo vessels, making it one of the largest in the logistics sector.
Suven Life Sciences to incorporate overseas subsidiary
Suven Life Sciences has received an approval to create an overseas subsidiary with an initial investment of $ 25 million for clinical development and commercialization of Suven pipeline and in-licensed molecules.
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