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TVS Motor surpasses estimates with 18% yoy volume growth in July 2018
TVS Motor Company Limited (TVSM) reported volume growth of 18% yoy and 0.5% mom in July 2018 led by 3Ws, and exports. 3W volumes were up 70% yoy and 4% mom at 13,323
units, while exports were up 42% yoy and 9.5% mom at 72,242 units. Total volumes for the month of July stood at 3.21 lakh units, which was higher than CNBC TV18’s
expectation of 3.11 lakh units.Volume growth for 2W was 17% yoy and 2.2% mom in July 2018, led by scooters, which grew by 29% yoy and 15.8% mom in July 2018. Moped volumes were up 10% yoy, but they were lower by 3.1% mom. Growth for 3Ws continued unabated. TVSM sold 13,323 three wheelers in July 2018, growth of 70% yoy and 7.3% mom.
RBI hikes repo rate by 25bps to 6.50%
The Reserve Bank of India’s Monetary Policy Committee (MPC) raised policy rates by 25bps to 6.50% on account of inflationary pressures arising due to hike in minimum support price.
The reverse repo rate under the LAF stands adjusted to 6.25%, and the marginal standing facility (MSF) rate and the Bank Rate to 6.75%.
Dabur stock gains after Q1FY19 net profit rises 24.5%
Shares of Dabur India (DIL) gained ~2.5% after the company reported a strong set of numbers for the quarter ended June 2018. The company has reported that revenue grew by 16.2% yoy to Rs2080.7cr, in-line with estimates, driven by a strong domestic performance (21% yoy volume growth).
The company's net profit was up 24.5% yoy to Rs330.0cr, in-line with estimates.
Unichem gets four observations for Pithampur API facility
Unichem has, in a statement to the exchanges on Wednesday, said that its API manufacturing facility at Pithampur, Madhya Pradesh, has received four observations from the US health regulator. The USFDA had inspected the facility between July 23-27 and issued a form 483 with four observations.
The nature of the observations was not disclosed, but the company has stated that they do not impact the continuity of business at the manufacturing facility. It has proposed to respond to these observations within 15 business days.
Cadila receives USFDA approval for Azithromycin tablets
Cadila Healthcare has received final USFDA approval for Azithromycin oral suspension USP 100 mg/5 mL and 200 mg/5 mL. Cadila’s Azithromycin is the generic equivalent of Pfizer's Zithromax tablets.Azithromycin is a macrolide antibiotic indicated for the treatment of bacterial infections such as respiratory infections, skin infections, ear infections, sexually transmitted diseases, etc., in patients.
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