TOP CORPORATE NEWS - 06 MAY 2016

Havells expects revenue of around Rs100 Cr by 2020

Havells entered a new product lines automation & smart solutions business.

The management expects of revenue of around Rs100 Cr from the automation & control by 2020.

Emami’s Dubai arm acquires 18.33% share in Fravin

Leading FMCG brand, Emami has said that its wholly owned subsidiary based in Dubai, Emami International FZE has further acquired 18.33% of the share Capital of its subsidiary Fravin Pty. Ltd, Australia.

Consequent to the above acquisition of shares, aggregate shareholding of Emami International FZE in its subsidiary company M/S. Fravin Pty Ltd has been increased from 66.67% to 85% share capital of Fravin Pty. Ltd.

Hero Motocorp Q4 profit in-line

Hero MotoCorp has announced the following audited Q4 & FY16 results for the quarter & year ended March 31, 2016:

Standalone

For the Quarter ended March 31, 2016 (YoY)

The Company has posted a net profit of Rs814.16 crore Vs Rs476.53 crore.

Total Income increased to Rs7614.61 crore Vs Rs6886.75 crore.

Aurobindo receives USFDA approval for fenofibrate tablets

Aurobindo Pharma receives USFDA approval for fenofibrate tablets ( gTricor) – Positive for Aurobindo; Strong growth to sustain over next two years on the back of continuous product approvals being received.

Aurobindo has received final approval from the USFDA to manufacture and market Fenofibrate Tablets, used to treat high level of cholesterol and triglyceride in the blood. This product is expected to be launched in Q1 FY16-17.

Bharti Airtel plans for divestment of telecom towers

Bharti Airtel International (Netherlands) BV, and Helios Towers Africa (HTA), a leading independent telecoms towers company in Africa, announced an agreement for the divestment of approximately 950 telecoms towers in the Democratic Republic of Congo (DRC) from Bharti Airtel to HTA.

                              

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