Cabinet approves New Hydrocarbon policy
The
cabinet has approved New Hydrocarbon policy. The policy allows the marketing
price freedom to deep & ultra-deep water producers.
This
could provide headroom to some of the difficult reserves to be viable.
Also,
the government will grant 1 time grant to BPL families for the LPG connection.
– Positive for upstream companies like ONGC & RIL.
RBI removes Kotak Mahindra Bank from FII ban list
The
Reserve Bank of India has allowed overseas investors to buy stake in Kotak
Mahindra Bank as foreign shareholding in the private bank has come below the
prescribed limit.
Hero MotoCorp board declares dividend
World’s
largest two-wheeler maker Hero MotoCorp board of directors of the Company at
its meeting held on March 10, 2016 has approved and declared the interim
dividend @2000% i.e. Rs40 per equity share of Rs2 each for the financial year
ending March 31, 2016
The
Company has fixed March 22, 2016 as the Record Date for the purpose of Payment
of Interim Dividend.
Lupin completes acquisition of GAVIS Pharma
Drug major Lupin said that it has completed the acquisition of
privately held US-based GAVIS Pharmaceuticals LLC and Novel Laboratories
(GAVIS).
Lupin had announced the acquisition on July 23, 2015.
The acquisition enhances the company's scale in the US generic
market and also broadens its pipeline in dermatology, controlled substance
products and other high-value and niche generics.
BHEL drops as CRISIL downgrades rating
Shares
of BHEL dropped 3% to Rs104 on NSE after CRISIL downgraded its rating to
AA+/Negative, citing constrained business risk profile of the company –
Negative.
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