·RBI permits overdrafts to be treated as priority sector advances
RBI decided that overdrafts extended by banks upto Rs 5,000 in Pradhan Mantri Jan-Dhan Yojana (PMJDY) accounts will be eligible for classification under priority sector advances (‘others’ category) as also weaker sections, provided the borrowers household annual income does not exceed Rs60,000 for rural areas and Rs1,20,000 for non-rural areas.
·Glenmark gets USFDA nod to sell generic blood pressure drug
Glenmark Pharmaceuticals today announced receipt of approval from the US health regulator to sell its generic version of AbbVie Inc's blood pressure drug Tarka in the American market.
The approval for trandol april and verapamil hydrochloride extended release tablets has been granted to Glenmark Generics Inc, a subsidiary of Glenmark Generics Ltd.
·DLF's sales booking to cross Rs3000 crore this fiscal
DLF's sales bookings will cross Rs3,000 crore this fiscal helped by better sales during this quarter in its two housing projects at Gurgaon. It has done sales bookings of about Rs1,900 crore in the first nine months of this fiscal.
·Cabinet approves implementation of 15,000 MW for solar projects
The Cabinet approved for implementation of the scheme for setting up of 15,000 MW of grid-connected solar photo voltaic power projects under the National Solar Mission, which will be executed by NTPC.
As these capacities would be grid-connected, it could add to the demand for green transmission corridor; hence positive for T&D EPC players like Kalpataru power & KEC International.
·Dr Reddy’s labs: US seeks information on drug pricing mechanism
Dr Reddy’s labs: US legal authorities seek information on drug pricing mechanism (sentimentally negative).Attorney Generals of Texas and California have separately sought information on pricing of some drugs sold by Dr Reddy's Laboratories in the US, according to the latest filing for the drug maker with SEC.
·RBI technical committee moots rate cut post budget
RBI technical committee moots rate cut post budget – sentimentally positive for banks and NBFCs. RBI's seven member technical advisory committee has advised for a rate cut post Budget. While 4 members suggested status quo on rates, 3 members recommended a reduction in policy repo rate (and one of members recommended 75 bps cut in repo rate).
·Government to cut annual fertiliser subsidy to Rs70000 crore
As per media reports government is likely to cut its annual fertiliser subsidy to around Rs70000 crore (4% lower than previous year) in budget proposals for FY15-16.View: This will not impact the financials of the companies as the International price of fertilizer are already trading on the lower side.
·Impact of Budget on Railway Stocks
The impact of Budget on Railway Stocks announced today (February 26, 2015) are as follows: Rail Stocks Gainers: Hind Rectifiers up 6.87%, Kernex up 4.94%, Bartronics up 3.61% Titagarh Wagons up 2.90%, BEML up 2%, IVRCL Infra up 1.70%.Rail Stocks Losers: Stone India down 1.83%, GDL down 0.78%, Kallindee down 0.64%.
RBI decided that overdrafts extended by banks upto Rs 5,000 in Pradhan Mantri Jan-Dhan Yojana (PMJDY) accounts will be eligible for classification under priority sector advances (‘others’ category) as also weaker sections, provided the borrowers household annual income does not exceed Rs60,000 for rural areas and Rs1,20,000 for non-rural areas.
·Glenmark gets USFDA nod to sell generic blood pressure drug
Glenmark Pharmaceuticals today announced receipt of approval from the US health regulator to sell its generic version of AbbVie Inc's blood pressure drug Tarka in the American market.
The approval for trandol april and verapamil hydrochloride extended release tablets has been granted to Glenmark Generics Inc, a subsidiary of Glenmark Generics Ltd.
·DLF's sales booking to cross Rs3000 crore this fiscal
DLF's sales bookings will cross Rs3,000 crore this fiscal helped by better sales during this quarter in its two housing projects at Gurgaon. It has done sales bookings of about Rs1,900 crore in the first nine months of this fiscal.
·Cabinet approves implementation of 15,000 MW for solar projects
The Cabinet approved for implementation of the scheme for setting up of 15,000 MW of grid-connected solar photo voltaic power projects under the National Solar Mission, which will be executed by NTPC.
As these capacities would be grid-connected, it could add to the demand for green transmission corridor; hence positive for T&D EPC players like Kalpataru power & KEC International.
·Dr Reddy’s labs: US seeks information on drug pricing mechanism
Dr Reddy’s labs: US legal authorities seek information on drug pricing mechanism (sentimentally negative).Attorney Generals of Texas and California have separately sought information on pricing of some drugs sold by Dr Reddy's Laboratories in the US, according to the latest filing for the drug maker with SEC.
·RBI technical committee moots rate cut post budget
RBI technical committee moots rate cut post budget – sentimentally positive for banks and NBFCs. RBI's seven member technical advisory committee has advised for a rate cut post Budget. While 4 members suggested status quo on rates, 3 members recommended a reduction in policy repo rate (and one of members recommended 75 bps cut in repo rate).
·Government to cut annual fertiliser subsidy to Rs70000 crore
As per media reports government is likely to cut its annual fertiliser subsidy to around Rs70000 crore (4% lower than previous year) in budget proposals for FY15-16.View: This will not impact the financials of the companies as the International price of fertilizer are already trading on the lower side.
·Impact of Budget on Railway Stocks
The impact of Budget on Railway Stocks announced today (February 26, 2015) are as follows: Rail Stocks Gainers: Hind Rectifiers up 6.87%, Kernex up 4.94%, Bartronics up 3.61% Titagarh Wagons up 2.90%, BEML up 2%, IVRCL Infra up 1.70%.Rail Stocks Losers: Stone India down 1.83%, GDL down 0.78%, Kallindee down 0.64%.
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