On a consolidated basis, ACC's net profit rose 38.20% to Rs 345.99 crore on 8.23% increase in net sales to Rs 3,849.63 crore in Q1 March 2019 over Q1 March 2018. The result was announced after market hours yesterday, 23 April 2019.
Lupin said it has received a letter from the US Food and Drug Administration (USFDA) classifying the inspection conducted at its Pithampur (Indore) Unit-2 facility in January 2019 as Official Action Indicated (OAI). The USFDA has stated that this facility may be subject to regulatory or administrative action and that it may withhold approval of any pending applications or supplements in which this facility is listed. The company does not believe that this classification will have an impact on disruption of supplies or the existing revenues from operations of this facility. The company is in the process of sending further updates of its corrective actions to the USFDA and is hopeful of a positive outcome. The announcement was made after market hours yesterday, 23 April 2019.
HDFC announced that the Reserve Bank of India (RBI) through its letter dated 22 April 2019 has granted its final approval to HDFC to acquire upto 9.9% of the paid-up voting equity capital of Bandhan Bank post proposed amalgamation of GRUH Finance with Bandhan Bank. The amalgamation scheme remains subject to approvals from the National Company Law Tribunal and the respective shareholders and creditors of GRUH Finance and Bandhan Bank. The announcement was made after market hours yesterday, 23 April 2019.
Tata Power announced that its wholly-subsidiary Tata Power Renewable Energy (TPREL) has signed a binding agreement to sell its 32 MW operating wind assets located in Satara District, Maharashtra. The power from these assets is currently tied up with Tata Power Company - Distribution (TPC-D) under a long-term power purchase agreement. The parties are currently executing conditions precedent defined under the agreement. Upon completion of the conditions precedent, the assets and liabilities pertaining to the said project would be transferred to the buyer. The announcement was made after market hours yesterday, 23 April 2019.
NBCC (India) said it has signed agreements with Government of Republic of Mauritius on 11 April 2019 for project management consultancy for construction of Mauritius Police Academy (MPA), Forensic Science Laboratory (FSL) and National Library & National Achieves (NA&NL) at Mauritius. NBCC secured order of Lot -1 MPA, Lot-2 FSL, Lot-3 NA&NL through competitive bids invited by Government of Mauritius. Exim Bank of India is funding these projects under GoI Line of Credit. The approximate cost of the projects is $44 million with PMC fees of $1,807,256 for all the three lots. The announcement was made after market hours yesterday, 23 April 2019.
Maruti Suzuki India introduced the New Alto, which has been India's best-selling car for 15 consecutive years. Keeping years of trust and faith in mind, Maruti Suzuki drives in the New Alto with enhanced safety features and captivating design. The New Alto now comes with BS-VI compliant engine, nearly a year before the regulation being mandated. The announcement was made after market hours yesterday, 23 April 2019.
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