• Sadbhav Eng emerges as successful bidder for NHAI projects
Sadbhav Engineering, a civil engineering construction company, on Monday said NHAI has declared the company as successful bidder (L1) in respect of the bid invited by NHAI for its two projects worth Rs1556.96 crore. The company has been declared the successful bidder (L1) in respect of the bid invited by National Highways Authority of India (Ministry of Road Transport and Highways) for the following two projects on EPC mode for continuous stretch of 45.50 km for aggregating value of Rs1556.96 crores, said Sadbhav Engineering.
• Lupin opens R&D to develop inhalation products in US
Drug major Lupin said that it has opened a research and development centre for inhalation products in Florida, the US. The facility at Coral Springs, Florida, will focus on the research and development of inhalation products for the treatment of asthma, allergic rhinitis, chronic obstructive pulmonary diseases and other lung diseases, the company said.
• IMP Powers bags order from TS Transco Telangana
Transformers and reactors maker IMP Powers said it has received an order worth Rs82 crore (approx.) from TSTransco Telangana for the supply of 35 number of 2900 MVA transformers.These transformers will be delivered within the current financial year, the company said in a statement.Adding further, company said that it has been awarded an order of 35 nos of assorted ratings of 2900 MVA transformers amounting to Rs82 crore approx. of the contract value from TSTRANSCO Telangana, to be delivered within the current financial year.
• ONGC will see 11% rise in output over next 3 years
Oil and Natural Gas Corp ( ONGC) will see an 11% rise in output over the next three years as it brings newer fields in production. – Positive read through
• Ramco wins order from Mission Aviation Fellowship
Ramco Systems announced new order from US based Christian mission organisation, Mission Aviation Fellowship ( MAF). Ramco will implement Ramco Aviation Suite with OFMS (Offline Field Maintenance System) to help MAF track multi-location maintenance operations & inventories.
• Tata Motors drops post Q1 nos as JLR margins slide
Shares of Tata Motors dropped 1% to Rs389 on NSE in otherwise positive markets post Q1FY16 results despite improvement in standalone business as JLR margins slide due to lower contribution from China; results in-line with our expectation. Tata Motors continued to post an improved performance in its domestic business on the back of higher volumes for MHCVs and some recovery in the passenger vehicle division.
• Pramerica Asset managers to acquire Deutche Bank’s AMC business
Pramerica Asset managers to acquire Deutche Bank’s AMC business—positive read thru for DHFL .Pramerica Asset Managers has agreed to buy Deutsche Bank’s India asset management business.
Separately, Dewan Housing Finance said that it has decided to acquire 50% of the equity share capital of Pramerica Asset Managers. However, the financial details of the transaction were however not disclosed.
