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Tuesday 30 July 2019

CAPITALSTARS TUESDAY CORPORATE NEWS UPDATE : 30 JULY 2019


Dr. Reddy's Labs launches Pregabalin capsules in the US
Dr Reddys Laboratories announced the launch of Pregabalin capsules in the US market.Shares of the company are down 2.5%.Pregabalin Capsules is a therapeutic equivalent generic version of Lyrica® (pregabalin) Capsules approved by the US Food and Drug Administration (USFDA).The Lyrica® (pregabalin) Capsules brand had US sales of ~$5,462mn MAT for the most recent twelve months ending in May 2019, according to IQVIA Health.Dr. Reddy's Pregabalin Capsules are available in 25 mg, 50 mg, 75 mg, 100 mg, 150 mg, 200 mg, 225 mg and 300 mg capsules in bottle count sizes of 90. This is also a controlled substance schedule V product.

Bank of India stock slumps 6% even as net profit jumps 154% yoy to Rs243cr
Shares of Bank of India are down 6% even as its PAT for the quarter ending Jun'19 more than doubled over its year-ago profit. Net profit up 154% at Rs242.6cr vs. Rs 95.1cr yoy.Its net interest income (NII) grew 3.9% yoy at Rs3, 485.4cr against Rs3, 354.3cr in the corresponding period last year.Gross NPA came in at 16.50% and net NPA at 5.79% qoq.

Dilip Buildcon declared L-1 bidder for Khaki dam construction
Dilip Buildcon Limited has been declared L-1 bidder for the project involving construction of Kharkai Dam at Icha with all control gates and its allied works including civil, mechanical (with Design of Gates), electrical and SCADA system under SMP in the state of Jharkhand.The Company has been declared L-1 bidder by the Water Resources Department for the project in the state of Jharkhand.The project cost is Rs972cr, and the completion period is 26 months.

ICRA expects some weakening in Retail-NBFC asset quality in the current fiscal
The assets under management (AUM) of retail non-banking finance companies grew at a much slower pace of ~9.5% (over September 2018) during H2FY2019 vis a vis ~13% during H2FY2018 (over September 2017) due to tightening of liquidity. Typically, though Retail-NBFC growth in H2 is higher than H1, in FY2019, it was lower than H1 growth of 11.5%. Therefore, overall credit growth of 22% during FY2019 was largely supported by the H1 performance. The Retail-NBFC AUM stood at Rs9.1 trillion as on March 31, 2019.

Granules India net profit soars 61% yoy in Q1
Granules India Ltd., a growing pharmaceutical manufacturing company, announced today the result for its first quarter of the financial year 2020. The stock gained after the company reported healthy Q1 numbers on Tuesday.The company's Q1FY20 net profit has increased by 61% to Rs83cr from Rs52cr for the corresponding quarter ended June 30, 2018.The income from operation also rose by 31% to Rs595cr in Q1 as against Rs453cr for the corresponding quarter ended June 30, 2018.

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