Adani Ports and Special Economic Zone (APSEZ) and Asian Paints will replace Vedanta and Hindalco Industries in the 30-share S&P BSE Sensex with effect from today, 21 December 2015.
Sun Pharmaceutical Industries (Sun Pharma) announced on Saturday, 19 December 2015 that it has received a warning letter from the United States Food and Drug Administration (USFDA) as a result of the September 2014 inspection, for its facility located at Halol in Gujarat. Sun Pharma said it has responded to the USFDA inspection observations with a robust remediation process that is still on-going, with significant investments in automation and training to enhance its quality systems. Sun Pharma has been working with external consultants to ensure its remediation activities have been completed in an appropriate manner, the company said in a statement. Post September 2014 inspection, the USFDA has withheld future product approvals from the Halol facility. This situation may continue until all issues are resolved, Sun Pharma said. The company expects to request a re-inspection by USFDA upon completion of its remediation commitments. Sun Pharma and the Halol facility will continue to supply important drug products to meet its obligations to its customers and the patients who use its drugs in the United States and around the world, the company said. Sun Pharma will respond to this warning letter with a detailed plan within the stipulated time frame, the company said in a statement.
Shares of Jubilant Life Sciences will be in spotlight after the Reserve Bank of India (RBI) on Friday, 18 December 2015, notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 45% of the paid up capital of the company under the Portfolio Investment Scheme (PIS). The RBI stated that the company has passed resolutions at its Board of Directors' level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares and convertible debentures by FIIs/RFPIs. The purchases could be made through primary market and stock exchanges, RBI said.
FIIs held 17.56% stake in Jubilant Life Sciences as per the shareholding pattern as on 30 September 2015.
Eicher Motors announced after market hours on Friday, 18 December 2015, that the company is back to normalcy at its Royal Enfield production facilities in Thiruvottiyur and Oragadam. Both these facilities are now running at 100% of their installed capacity. It may be recalled that due to recent heavy rains and flooding in Chennai, both of the company's Royal Enfield production facilities in Thiruvottiyur and Oragadam were shut from 1 December to 6 December 2015. Later, the company had on 8 December 2015 announced resumption of production at only 50% of installed capacity at these two units on 7 December 2015.
United Bank of India announced that its board of directors at a meeting held on Friday, 18 December 2015, has approved the proposal to raise the bank's equity capital by preferential allotment of shares up to Rs 1500 crore to the Government of India (GoI) or Life Insurance Corporation of India (LIC) or funds thereof or such other investors as may be decided provided that GoI's holding at any time shall not fall below 51% of the total equity capital of the bank and subject to other requisite approvals. The announcement was made after market hours on Friday, 18 December 2015.
The GoI and LIC respectively held 82% and 12.12% stake in United Bank of India as per the shareholding pattern as on 30 September 2015.
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SRS announced that its group company SRS Entertainment has opened SRS Cinemas through franchise from SRS at Uttrakhand on 18 December 2015 with 2 screens having 468 seats. This is the fourth cinema being operational through franchise model by SRS making the screen count to 59 with the total seating capacity of 15,218 Seats and presence in 16 cities with 21 properties. The announcement was made after market hours on Friday, 18 December 2015.
MBL Infrastructures announced that it has secured a highway contract worth Rs 414.75 crore in Madhya Pradesh, under NHDP-III through engineering, procurement & construction (EPC) basis. The execution period of the project is 24 months from the appointed date, MBL Infrastructures said. The announcement was made after market hours on Friday, 18 December 2015.
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