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Weekly News: India Industrial output grew 1.7 percent on a yearly basis

SMC | 17 Jul, 2017  | Follow Author | Add to my Favourites 
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Economy


- India Industrial output grew 1.7 percent on a yearly basis after expanding revised 2.8 percent in April. The annual growth came in line with expectations.


- India's consumer price inflation stood 1.54 percent year-on-year in June, following a 2.18 percent rise in May. In the same period of 2016, inflation was 5.77 percent. Prices were forecast to gain 1.67 percent in June.


Engineering


- Reliance Infrastructure of has received government approvals for its planned $1-billion greenfield aerospace park near Nagpur.


Power


- JSW Energy is exploring new opportunities in renewable energy space and transmission and distribution segment. Moreover, going forward, JSW Energy is renewing its focus on cost optimisation and as part of this, planning to utilise domestic coal in its coal mix at Vijayanagar and Ratnagiri plants.


- NLC India is investing heavily in renewable energy as producing only lignite and generating power from it may not be sustainable for long. The company recently won a 709 MW solar project in Tamil Nadu and hopes green energy will boost topline growth. It has firmed up a capex of about `17,400 crore for setting up 4,200 MW of green energy generation capacities by 2020 as part of its diversification plan.


Oil & Gas


- Indian Oil Corp will spend 350 crore to set up a bioethanol facility at Panipat Refinery in alliance with LanzaTech of the US to convert waste gas from its Panipat refining unit to ethanol.


Pharmaceutical


- Lupin Ltd has received final approval from the US Food and Drug Administration (US FDA) to market a generic version of Valeant Pharmaceuticals International Inc's Ancobon capsules, the company said. The capsules—flucytosine capsules USP (250 mg and 500mg)—are indicated for the treatment of serious infections caused by certain strains of Candida and Cryptococcus


- Cipla India's and Swiss giant Novartis are in early-stage discussions to jointly market asthma drug Xolair, just months after they ended a legal battle over another respiratory drug.


- The USFDA approved Biocon and US drug maker Mylan's proposed biosimilar breast cancer drug Trastuzumab, a move that opens doors for Bangalore based Biocon in the big league of US cancer drug market. A biosimilar drug is a identical copy of a biologic innovator drug. Trastuzumab is an original drug of Swiss drug maker Roche which is sold under brand name of Herceptin, it is one of the most commonly used drug to treat HER2-positive breast cancer.


Healthcare


- Zydus Cadila has received final approval from the US health regulator to market Memantine Hydrochloride tablets, used to treat dementia, in America


Automobile


- Tata Motors is expanding portfolio of its small commercial cargo vehicles under Ace brand with the addition of three new products priced between Rs 3.08 lakh and Rs Rs 4.78 (ex-showroom Mumbai).


- Mahindra & Mahindra will now challenge the country's largest commercial vehicle maker Tata Motors in growing minivan space with the introduction of Jeeto Minivan.


Miscellaneous


- Blue Star announced the entry into Sri Lanka market by partnering with Comfort Solutions as the official distributor for air conditioners, water coolers, deep freezers, bottled water dispensers and ice cube machines.


- The government gave green signal to Reliance Industries Ltd for expansion of its petrochemical complex in Gujarat, entailing investment of 2,100 crore. RIL proposal is to increase production capacities of these plants by debottlenecking and expansion through technological upgradation.


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About SMC
SMC Research, founded in 1990, is India’s leading share and stock broker, provides a wide range of financial services and investment solutions. A blend of extensive experience, diverse talent and client focus has made us the 4th largest broking house in India(Source: Dun and Bradstreet, 2008). Over the years, SMC has expanded its operations domestically as well as internationally. Existing network includes regional offices at Mumbai, Kolkata, Chennai, Cochin, Ahmedabad, Jaipur, Hyderabad, Bangalore plus a growing network of 2100+ offices spread across 425 cities/towns in India.


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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.



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