Cipla after market hours on Tuesday, 2 September 2014 announced the launch of Serroflo, its Salmeterol/Fluticasone MDI, in Germany and Sweden. With this launch, Cipla opens the door for new, highly efficient treatments in the European healthcare market. Serroflo will substantially improve the affordability of fixed combinations in Europe and help manage health costs for respiratory treatment, Cipla said in a statement. "With Serroflo we offer in Germany and Sweden an alternative which is effective and efficient and therefore brings many advantages into a market which suffers from limited resources", said Mr. Frank Pieters, Head of Cipla Europe.
In Germany the new product is distributed under the name "Serroflo", whereas in Sweden the combination is launched as "Salmeterol/Fluticasone Cipla". Serroflo and Salmeterol/Fluticasone Cipla will be available in a pMDI with HFA propellant in two strengths, Cipla said in a statement.
Metal stocks may be in demand after a government survey showed that activity in China's services sector recovered slightly in August 2014. China is the world's largest consumer of copper and aluminum.
Sesa Sterlite after market hours on Tuesday, 2 September 2014 said that its board of directors will meet on Friday, 5 September 2014, inter alia, to consider enabling approval for - raising of funds through issue of Securities including convertible debentures, bonds, warrants, NCDs etc.
On a provisional basis, NMDC said that total iron ore production rose to 12.10 million tonne in five months upto August 2014 from 10.83 million tonne in five months upto August 2013. Sales rose to 13.57 million tonne in five months upto August 2014 from 11.44 million tonne in five months upto August 2013.
Meanwhile, NMDC kept price of iron ore unchanged for September 2014. NMDC said it has rolled over the August 2014 price of lump ore (Rs 4600 per tonne) and fines (Rs 3160 per tonne) to the month of September 2014.
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Meanwhile, NMDC said that the company has subscribed to its full entitlement of shares of the Rights Offer of Legacy Iron Ore. Accordingly, after the allotment of shares by Legacy, NMDC is holding 115.34 crore shares with a voting power of 78.56% in Legacy.
IT stocks may gain on positive economic data in US, the biggest outsourcing market for the Indian IT firms.
Era Infra Engineering was awarded a contract for construction of New Integrated Terminal Building at VSI Airport, Port Blair valuing Rs 314.61 crore (Approx.) by Airport Authority of India (AAI).
The Reserve Bank of India on Tuesday, 2 September 2014 notified that the foreign shareholding through Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) in MT Educare has reached the trigger limit. Further purchases of equity shares of this company would be allowed only after obtaining prior approval of the Reserve Bank of India, it added.
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