Dr Reddy's Laboratories after market hours on Tuesday, 25 February 2014 said that it has launched Sumatriptan Injection USP, Autoinjector System 6 mg/0.5 ml, for Subcutaneous use, a therapeutic equivalent generic version of IMITREX STATdose Pen (Sumatriptan succinate) 6 mg/0.5 ml in the US market on 25 February 2014, following the approval by the United States Food and Drug Administration (USFDA). The IMITREX STATdose Pen (Sumatriptan succinate) brand and generic combined had US sales of approximately $169 million for the most recent twelve months ended December 2013 according to IMS Health data. Dr Reddy's Sumatriptan Injection USP, Autoinjector System 6 mg/0.5 ml is available in a carton containing 2 single-dose prefilled syringes.
NTPC said a Memorandum of Understanding has been signed amongst Bihar State Power Generation Company (BSPGCL), NTPC and Lakhisarai Bijlee Company (LBCPL), a wholly-owned subsidiary of BSPGCL, on 22 February 2014 to take over LBCPL by NTPC after contributing 74% of share of investment divested by BSPGCL for setting up Lakhisarai Thermal Power Project (2X660 MW) near village Kajra, District Lakhisarai, Bihar under joint venture route.
Meanwhile, it also informed that Central Electricity Regulatory Commission (CERC) in exercise of powers conferred under section 178 of the Electricity Act, 2003 has issued CERC (Terms and conditions of tariff) Regulations, 2014, which shall come into force with feect from 1 April 2014 and shall remain in force for a period of 5 years from the date of commencement. Some of the important provisions of the regulations computation suggest that rate of return has been retained at 15.5% which will be grossed up with effective tax rate as per Regulation 25 of the said Regulations. Additional return on equity (RoE) of 0.5% subject to certain conditions. Rate of depreciation as per Companies Act for the first 12 years. Operation & Maintenance (O&M) charges have been increased based on past actual expenditure. Any generation beyond 85% plant load factor level will qualify for incentive at Rs 0.50 per kilowatt hour, NTPC said.
State Bank of India said after market hours on Tuesday, 25 February 2014 that a meeting of the board of directors of the bank will be held on 3 March 2014, inter alia, to consider, and if thought fit, declare interim dividend for the financial year ending 31 March 2014.
The country's largest insurer, Life Insurance Corporation (LIC), may reportedly pick up 5% stake in state-run power equipment maker Bhel in a block deal. According to a media report, the proposal initiated by the heavy industries & public enterprises ministry is now being processed by the disinvestment and financial services department of the finance ministry.
Infosys will reportedly hive off its products, platforms and solutions (PPS) business into a separate subsidiary at the beginning of the next financial year. According to a media report, the new division called Edge Works will have a three-tier structure, one focusing on understanding market needs, another on product development and a third on implementation at client sites.
Promoters and two private equity (PE) shareholders of mid-market software services provider KPIT Technologies have reportedly begun negotiations with PE and strategic investors to sell a significant minority stake in the company. Pune-based KPIT Technologies, which provides software services to automotive and manufacturing companies, has a market capitalisation of Rs 3468.64 crore (as on 25 February 2014). The three promoters own around 22.53% as on 31 December 2013.
Ceat said after market hours on Tuesday, 25 February 2014 that manufacturing operations at the Bhandup plant of the company have been resumed on Tuesday afternoon. The out-break of fire on Sunday, 23 February 2014 at the raw material store of the company's plant at Bhandup, Mumbai, had resulted into temporary suspension of manufacturing operations.
Nitin Fire Protection Industries said after market hours on Tuesday, 25 February 2014 that the meeting of the buy Back committee of the company will be held on 26 February 2014 to consider buy back of shares, to fix the date of closing the buy back and other related formalities.
National Fertilizers said after market hours on Tuesday, 25 February 2014 that National Fertilizers (NFL), Nangal Unit (Punjab) is under shutdown for annual maintenance from 17 January 2014. Plant is expected to resume production by 1st week of March, 2014.
IFB Agro Industries said after market hours on Tuesday, 25 February 2014 that the board of directors of the company at its meeting held on 25 February 2014, has approved the proposal of sale of its Indian made Foreign Liquor (IMFL) Brands to Tilaknagar Industries.
Coromandel International had issued 9% unsecured redeemable non-convertible debentures of Rs 15 each fully paid-up to its shareholders, as bonus debentures, to commemorate the golden jubilee year of the company. The terms and conditions of the issue of the said debentures, provided a right to the company to prepay the debentures at any time. The board authorised committee of directors of the company, in its meeting held on 25 February 2014, has exercised the option to prepay the debentures, and approved early redemption of the bonus debentures.
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NTPC said a Memorandum of Understanding has been signed amongst Bihar State Power Generation Company (BSPGCL), NTPC and Lakhisarai Bijlee Company (LBCPL), a wholly-owned subsidiary of BSPGCL, on 22 February 2014 to take over LBCPL by NTPC after contributing 74% of share of investment divested by BSPGCL for setting up Lakhisarai Thermal Power Project (2X660 MW) near village Kajra, District Lakhisarai, Bihar under joint venture route.
Meanwhile, it also informed that Central Electricity Regulatory Commission (CERC) in exercise of powers conferred under section 178 of the Electricity Act, 2003 has issued CERC (Terms and conditions of tariff) Regulations, 2014, which shall come into force with feect from 1 April 2014 and shall remain in force for a period of 5 years from the date of commencement. Some of the important provisions of the regulations computation suggest that rate of return has been retained at 15.5% which will be grossed up with effective tax rate as per Regulation 25 of the said Regulations. Additional return on equity (RoE) of 0.5% subject to certain conditions. Rate of depreciation as per Companies Act for the first 12 years. Operation & Maintenance (O&M) charges have been increased based on past actual expenditure. Any generation beyond 85% plant load factor level will qualify for incentive at Rs 0.50 per kilowatt hour, NTPC said.
State Bank of India said after market hours on Tuesday, 25 February 2014 that a meeting of the board of directors of the bank will be held on 3 March 2014, inter alia, to consider, and if thought fit, declare interim dividend for the financial year ending 31 March 2014.
The country's largest insurer, Life Insurance Corporation (LIC), may reportedly pick up 5% stake in state-run power equipment maker Bhel in a block deal. According to a media report, the proposal initiated by the heavy industries & public enterprises ministry is now being processed by the disinvestment and financial services department of the finance ministry.
Infosys will reportedly hive off its products, platforms and solutions (PPS) business into a separate subsidiary at the beginning of the next financial year. According to a media report, the new division called Edge Works will have a three-tier structure, one focusing on understanding market needs, another on product development and a third on implementation at client sites.
Promoters and two private equity (PE) shareholders of mid-market software services provider KPIT Technologies have reportedly begun negotiations with PE and strategic investors to sell a significant minority stake in the company. Pune-based KPIT Technologies, which provides software services to automotive and manufacturing companies, has a market capitalisation of Rs 3468.64 crore (as on 25 February 2014). The three promoters own around 22.53% as on 31 December 2013.
Ceat said after market hours on Tuesday, 25 February 2014 that manufacturing operations at the Bhandup plant of the company have been resumed on Tuesday afternoon. The out-break of fire on Sunday, 23 February 2014 at the raw material store of the company's plant at Bhandup, Mumbai, had resulted into temporary suspension of manufacturing operations.
Nitin Fire Protection Industries said after market hours on Tuesday, 25 February 2014 that the meeting of the buy Back committee of the company will be held on 26 February 2014 to consider buy back of shares, to fix the date of closing the buy back and other related formalities.
National Fertilizers said after market hours on Tuesday, 25 February 2014 that National Fertilizers (NFL), Nangal Unit (Punjab) is under shutdown for annual maintenance from 17 January 2014. Plant is expected to resume production by 1st week of March, 2014.
IFB Agro Industries said after market hours on Tuesday, 25 February 2014 that the board of directors of the company at its meeting held on 25 February 2014, has approved the proposal of sale of its Indian made Foreign Liquor (IMFL) Brands to Tilaknagar Industries.
Coromandel International had issued 9% unsecured redeemable non-convertible debentures of Rs 15 each fully paid-up to its shareholders, as bonus debentures, to commemorate the golden jubilee year of the company. The terms and conditions of the issue of the said debentures, provided a right to the company to prepay the debentures at any time. The board authorised committee of directors of the company, in its meeting held on 25 February 2014, has exercised the option to prepay the debentures, and approved early redemption of the bonus debentures.
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