• Market is expected to open on flattish note and will take further direction from outcome of RBI policy scheduled today. • RBI is expected to leave benchmark repo rate unchanged at 8% today but may sound positive for the future considering the decline in commodity prices and inflation. • October eight core industries’ growth at 6.3% vs 1.9% MoM • Sun Pharma Advanced (SPARC) receives Complete Response Letter (CRL) from USFDA for Latanoprost NDA • Dewan Housing board approves raising Rs 10,000 crore via issue of commercial papers on private placement basis • IRB Infrastructure said that it will start toll collection on Pathankot-Amritsar toll road. Pathankot-Amritsar BOT project’s estimated cost at Rs 1,445 cr. • Promoter of Fullford has withdrawn the proposal for de listing offer • MRF has said that over the next 3 years it would invest around Rs 4000 cr, to build up additional capacity and to introduce new products. MRF is planning to expand its capacity, in facilities including Hyderabad, Trichy and Goa. • Ranbaxy has announced the launch of Infimab, the first Remicade biosimilar in India. The drug is used in treatment of inflammatory diseases, including rheumatoid arthritis, Crohn’s Disease, ulcerative colitis and psoriatic arthritis. • Eveready Industries India Ltd has “partially suspended” operation at its dry cell battery manufacturing unit at Haridwar owing to labour trouble. • The government has approved Sun Pharmaceuticals acquisition of Ranbaxy Laboratories while the FIPB has sent HDFC Banks proposal for the further approval of the cabinet committee on economic affairs (CCEA). • CERC has given Financial Technologies time till January 4 to comply with its directive to complete sale of its entire stake in Indian Energy Exchange, said media reports. • Auto monthly sales for the month of November 2014: Auto sales for the month of November were better than expectations for Maruti Suzuki, Tata Motors, Ashok Leyland. M&M continued to disappoint in both auto and tractors sales. Escorts as compared to M&M reported decline of 26.9% while M&M reported decline of 33.7% in tractor sales. Exports continue to witness improvement for Escorts. Hero Moto and TVS motors were broadly in line with expectations.
Posted on: Tue, 02 Dec 2014 06:51:38 +0000
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