TOP CORPORATE NEWS - 05 APR 2016

RBI cuts Repo Rate by 25 bps

The Central Bank has cut the repo rate by 25 bps. RBI has also kept the CRR unchanged at 4%

RBI Cuts repo rate by 25 bps to 6.50%.

RBI Keeps CRR unchanged at 4%.

Liquidity conditions stressed by Govt's cash Accumulation.

Expect CPI Inflation to remain around 5% in 2016-17.

Expect economy to grow by 7.6% in FY17.

Petrol price hiked by Rs2.19 per litre, Diesel by 98 paise a litre

There is another hike in petrol price as now a litre costs Rs61.87 for a litre. The increase has been of Rs2.19. While diesel too has seen an upward movement in price by 98 paise to Rs49.31 for a litre (both prices in New Delhi). This has been a second consecutive hike in petrol and diesel prices in last 15 days. The total hike has been of Rs3.09 for petrol and Rs1.90 for diesel.

Aurobindo gets USFDA nod for anti-infective drug

Aurobindo Pharma has announced that the product is expected to be launched in Q2 September 2016. The approved abbreviated new drug application (ANDA) is bioequivalent and therapeutically equivalent to the reference listed drug product (RLD) Polymyxin B for Injection USP, 5 lakh units/vial of Eurohealth International Sarl.

Hero Motocorp March 2016 sales grow 14% YoY

Hero Motocorp March 2016 sales grow 14% yoy on low base; marginally ahead of estimates

Hero Motocorp sales in the month of March 2016 grew 14% yoy to 606,542 units on low base of the corresponding month last year. The sales were marginally ahead of our estimates of 580,000 units.

Adani receives Tamil Nadu Government nod to buy Kattupalli port

As per media reports, Adani Ports has received Tamil Nadu Government nod to buy Kattupalli port from L&T- Positive for L&T.

                                

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