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You are here : IndiaNotes >> Research & Analysis >> Economy Watch >> Growth Prospects

Weekly News: RBI left its key repo rate at its first bi-monthly monetary policy meeting of 2016

SMC | 08 Feb, 2016  | Follow Author | Add to my Favourites 
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Economy


-  At its first bi-monthly monetary policy meeting of 2016, the Reserve Bank of India (RBI) left its key repo rate, along with cash reserve ratio and statutory liquidity ratio, unchanged.


Pharmaceuticals


- Aurobindo Pharma has received final approval from the US Food and Drug Administration (US FDA) to manufacture and market Isosulfan Blue Injection, 1% single-dose vials, used in a lymphography procedure.


- Dr Reddy's Laboratories Limited has received a tentative approval from the US Food and Drug Administration (USFDA) for Zenavod (doxycycline) capsules. Zenavod is a tetracycline-class drug indicated for the treatment of only inflammatory lesions of rosacea in adult patients. Promius Pharma, the US subsidiary of Dr Reddy's Laboratories will be responsible for commercialising Zenavod in the US market.


Capital Goods


- BHEL has bagged an order of Rs2,759 crore for setting up a unit of supercritical thermal power project in Tamil Nadu. Valued at Rs2,759 crore, the main plant package contract for the 1x800 Mw North Chennai Supercritical TPS Stage III, has been placed on BHEL by the Tamil Nadu Generation and Distribution Corporation (TANGEDCO). The project is expected be commissioned by August 2019.


Automobile


- M&M, which has overtaken Tata Motors in light commercial vehicles (LCVs) this year, is looking to double its market share to about 6% in the fastgrowing medium and commercial vehicle (M&HCV) segment.


- Ashok Leyland plans to set up two assembly plants in Africa besides doubling capacity at Ras al-Khaimah facility in the UAE this year as part of its global expansion. The company will invest around Rs 100 crore in these overseas commercial vehicles assembly plants.


FMCG


- Colgate-Palmolive (India) Limited has inaugurated its first ever toothbrush production unit of India in Sri City. The plant was set up with an initial capacity to produce 220 million pieces of tooth brushes a year, at an investment of Rs450 crore. The company has recently signed an MoU with Andhra Pradesh government to invest an additional Rs450 crore for expanding the operations at Sri City, a large private business and industrial park located near Tamil Nadu borders.


Mining & Minerals


- Vedanta Ltd is gearing up to ramp up capacity at its aluminum smelter SEZ (Special Economic Zone) at Jharsuguda from the next fiscal. Vedanta owns two aluminium smelting facilities at Jharsuguda. While the standalone smelter of 0.5 million tonne per annum (mtpa) is running at full capacity, the other smelting unit of 1.25 mtpa capacity, within its product specific SEZ, was running at depleted capacity for want of power. In the October-December period of this fiscal, the SEZ smelter produced 19,000 tonne of aluminium.


Entertainment


- Wonderla Holidays has signed Memorandum of Understanding (MoU) with the Government of Karnataka at "Invest Karnataka Meet 2016". The Company proposes to make an investment of Rs150 crore in Bangalore Park expansion in the next two years through combination of debt and internal accruals.


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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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