TOP CORPORATE NEWS - 31 MAR 2016

Reliance Jio to enter 4G market with competitive pricing

Reliance Industries - Media reports reveals that Reliance Jio is likely to enter market with very competitive pricing for its 4G services, way ahead of its peers offerings.

This is to intensify competition and RIL JIO could gain market share. As per media reports, the SIM cards will be available at a cost of Rs200 and JIO will offer humongous 75GB of  4G data and 4500 minutes of call timeas well as some freebies.

This is sentimentally positive for Reliance Industries.

RBI eases ECB norms for Infra firms

RBI eases ECB norms for Infra firms – positive for REC, PFC, L&T Finance Holding, SREI and infra firms

RBI allowed all companies engaged in the infrastructure sector to raise external commercial borrowings with a minimum maturity of five years, including those non-banking finance companies (NBFC) regulated by the RBI.

Coal India receives green nod from environment ministry

Coal India has received a green nod from environment ministry panel with some riders to Coal India's Ashok open cast mining project in Jharkhand.

The estimated production from the mine is in the range of 10 to 14 MTPA – Positive read thru for Coal India.

Apollo Tyres appoints Steven Smidlein as Senior VP

Apollo Tyres appointed Steven Smidlein as a Senior VP to boost sales in North America. Steven Smidlein would be responsible for building the brand and sales in North America for both, Apollo and Vredestein brands.

Steven comes with a 30+ years of experience in the sales Management and has served as a Director, OE Sales for a leading tyre maker in North America and as a Corporate Director for Daimler Chrysler.

Aurobindo receives USFDA approval for Pantoprazole Sodium

Aurobindo Pharma receives USFDA approval for Pantoprazole Sodium for Injection – Positive for Aurobindo.

Aurobindo has received final approval from USFDA to manufacture and market Pantoprazole Sodium i.e. gProtonix. This product is expected to be launched in Q1 FY16-17. Pantoprazole Sodium for Injection is a gastrointestinal drug.

                         

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