·RBI Rate cut boosts Banking Sector
The Reserve Bank of India (RBI) reduced the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points from 7.75% to 7.5% with immediate effect. Consequently, the reverse repo rate under the LAF stands adjusted to 6.5%, and the marginal standing facility (MSF) rate and the Bank Rate to 8.5% with immediate effect.RBI kept the cash reserve ratio ( CRR) of scheduled banks unchanged at 4% of net demand and time liabilities (NDTL).
·SPARC surges on USFDA approvals for antiepileptic drug
Sun Pharma Advanced Research Company (SPARC) has got USFDA approval for its New Drug Application (NDA) for ELEPSIA XR (Levetiracetam extended-release tablets 1000 mg and 1500 mg).ELEPSIA XR is indicated for adjunctive therapy in the treatment of partial onset seizures in patients 12 years of age and older with epilepsy.
·HSBC Services PMI hits 8 month high in February
The HSBC services PMI rose to an eight-month high of 53.9 in February up from 52.4 in January indicating strong expansion in output across the sector. The latest numbers come on a day when the Reserve Bank of India, in a surprise move, cut interest rates by 25 bps.
·Government bonds hit 20-month high
Government bonds surged to their highest in nearly 20 months while the rupee jumped to a one-month high on Wednesday after the Reserve Bank of India (RBI) lowered interest rates, in a move that came earlier than expected. The RBI lowered its key policy repo rate by 25 basis points to 7.5%, its second inter-meeting cut this year on the back of easing inflation and what it said was the 'weak state' of parts of the economy.
·Parliament passes bill to ease mining policy
Mining bill passed by parliament; to ease mining policy and to do business - Positive for Sesa Sterlite and Tata Steel but negative for NMDC. The mines and minerals development and regulation (MMDR) Bill 2015 has been passed by parliament. The changes proposed in the bill are likely to ease bottlenecks in the sector by giving more power to the centre over states.
·Thomas Cook surges on creating dedicated student travel vertical
Thomas Cook rose nearly 9%, touching to Rs216.8, after the company said it has created Travel Quest, a dedicated student travel vertical with its intent to focus on India's emerging student segment.
Thomas Cook (India), on the occasion of the finals of the Thomas Cook Travel Quest, India's first national travel quiz for school students, the company announced its intent to focus on the student market via its Travel Quest Study Tours.
·Ranbaxy loses approvals, exclusivity of 2 drugs in US
Ranbaxy loses approvals, exclusivity of 2 drugs in US in a latest court verdict; sentimentally negative (but impact already factored in).Ranbaxy Laboratories' tentative approvals for its generic versions of digestive disorder drug Nexium and antiviral Valcyte along with 180-days marketing exclusivity stands canceled following a US court decision.
·HDIL plans selling Baroda land parcel
HDIL has put on the block an industrial plot in Gujarat as part of its plans to reduce debt .The 113.47-acre land parcel is adjacent to the Ranoli railway station, on the Ahmedabad-Vadodara corridor, and falls under the jurisdiction of Vadodara Urban Development Authority. Over the last year, HDIL has reduced its debt by nearly Rs685 crore to Rs3,142.4 crore as of December 2014.
The Reserve Bank of India (RBI) reduced the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points from 7.75% to 7.5% with immediate effect. Consequently, the reverse repo rate under the LAF stands adjusted to 6.5%, and the marginal standing facility (MSF) rate and the Bank Rate to 8.5% with immediate effect.RBI kept the cash reserve ratio ( CRR) of scheduled banks unchanged at 4% of net demand and time liabilities (NDTL).
·SPARC surges on USFDA approvals for antiepileptic drug
Sun Pharma Advanced Research Company (SPARC) has got USFDA approval for its New Drug Application (NDA) for ELEPSIA XR (Levetiracetam extended-release tablets 1000 mg and 1500 mg).ELEPSIA XR is indicated for adjunctive therapy in the treatment of partial onset seizures in patients 12 years of age and older with epilepsy.
·HSBC Services PMI hits 8 month high in February
The HSBC services PMI rose to an eight-month high of 53.9 in February up from 52.4 in January indicating strong expansion in output across the sector. The latest numbers come on a day when the Reserve Bank of India, in a surprise move, cut interest rates by 25 bps.
·Government bonds hit 20-month high
Government bonds surged to their highest in nearly 20 months while the rupee jumped to a one-month high on Wednesday after the Reserve Bank of India (RBI) lowered interest rates, in a move that came earlier than expected. The RBI lowered its key policy repo rate by 25 basis points to 7.5%, its second inter-meeting cut this year on the back of easing inflation and what it said was the 'weak state' of parts of the economy.
·Parliament passes bill to ease mining policy
Mining bill passed by parliament; to ease mining policy and to do business - Positive for Sesa Sterlite and Tata Steel but negative for NMDC. The mines and minerals development and regulation (MMDR) Bill 2015 has been passed by parliament. The changes proposed in the bill are likely to ease bottlenecks in the sector by giving more power to the centre over states.
·Thomas Cook surges on creating dedicated student travel vertical
Thomas Cook rose nearly 9%, touching to Rs216.8, after the company said it has created Travel Quest, a dedicated student travel vertical with its intent to focus on India's emerging student segment.
Thomas Cook (India), on the occasion of the finals of the Thomas Cook Travel Quest, India's first national travel quiz for school students, the company announced its intent to focus on the student market via its Travel Quest Study Tours.
·Ranbaxy loses approvals, exclusivity of 2 drugs in US
Ranbaxy loses approvals, exclusivity of 2 drugs in US in a latest court verdict; sentimentally negative (but impact already factored in).Ranbaxy Laboratories' tentative approvals for its generic versions of digestive disorder drug Nexium and antiviral Valcyte along with 180-days marketing exclusivity stands canceled following a US court decision.
·HDIL plans selling Baroda land parcel
HDIL has put on the block an industrial plot in Gujarat as part of its plans to reduce debt .The 113.47-acre land parcel is adjacent to the Ranoli railway station, on the Ahmedabad-Vadodara corridor, and falls under the jurisdiction of Vadodara Urban Development Authority. Over the last year, HDIL has reduced its debt by nearly Rs685 crore to Rs3,142.4 crore as of December 2014.
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