• Bharat Forge, Punj Lloyd in race to make anti-aircraft guns
Bharat Forge and Punj Lloyd have emerged as the contenders for a mega contract from the Indian army to manufacture and supply anti-aircraft guns. The project involves supply of 1,102 air defence guns over the next 15 years with an estimated cost of Rs16,800 crore. The trial for the guns are expected to take 2-3 years after which the contract would be awarded.
• Bajaj Auto targets 35% growth in domestic motorcycle segment
Bajaj Auto management is targeting a growth of 35% in the domestic motorcycle segment during the current fiscal. The management has pinned hopes on the launch of the new CT100, Platina electric start and range of Pulsar variants to drive growth. The company is also expected to launch a new brand in the executive segment.
• Petronet LNG gets approval from Enviroment & Forest Ministry
The Ministry of Environment and Forests has given green clearance to Petronet’s proposed liquefied natural gas terminal at Gangavaram Port in Andhra Pradesh. The terminal will have facilities for receiving, storage and regasification of LNG with an initial capacity of 5 million tonnes a year. PLNG will develop the project in partnership with Gangavaram Port Ltd on the east coast close to Visakhapatnam, with an investment of about Rs4,500 cr.
• Sun Pharma gets USFDA approvals for painkiller oxymorphone
Sun Pharma has got USFDA’s approvals to market oxymorphone hydrochloride extended release tablets, which is a generic version of Opana ER. Endo's Opana ER is a long-acting narcotic drug used to treat moderate and severe pain. Opana ER is generating annual sales of US$300mn. We have Buy rating on Sun pharma.
• Motherson gets biggest ever order from Daimler; stk up
Motherson Sumi Systems rose over 7%, touching to Rs499, after the company said it has received its biggest ever order from the Germany car maker Daimler for an disclosed amount. The global automotive supplier Motherson Sumi Systems Ltd. (MSSL) through its subsidiary Samvardhana Motherson Automotive Systems Group BV (SMRPBV) has received a significant set of orders for the supply of a range of exterior and interior systems for several future Mercedes-Benz vehicle generations.
• Kalpataru Power receives new orders of Rs765 cr; stk up
Kalpataru Power Transmission rose nearly 5%, touching to Rs239.9, after the company announced that it has received new orders in the power and infrastructure contracting sector worth around Rs765 crore.
The first order worth Rs443 crore is for laying of transmission lines in Ajmer and pipeline laying projects worth Rs35 crore from Gail (India), the company said.
• PFS collaborates with IFC for financing renewable energy projects
PFS has signed IFC’s master cooperation agreement to provide much-needed infrastructure financing for renewable energy projects in India. This cooperation will enable PFS to access funds at competitive rates and will help it capitalize opportunities in the renewable energy segment. We continue to have positive view on the stock (price target Rs90).
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