Tata Motors will be watched after its British luxury car unit, Jaguar Land Rover (JLR), reported 25% increase in its global sales at 37,403 units in November 2013 over November 2012.
November sales were strong for JLR in the China Region up 42%, North America up 37%, Asia Pacific up 32%, Europe up 7%, other overseas markets up 42%, with UK sales consistent with the previous year, JLR said in a statement.
Commenting on the November performance Andy Goss, JLR Group Sales Operations Director said: "November has been another solid month in what has so far, been a great year for Jaguar Land Rover. Our continued sales success is a testament to our sustained investment in new and exciting products which are driving growth internationally and attracting new customers to our brands".
Cadila Healthcare said it along with Zydus Pharmaceuticals (USA) Inc, have entered into an agreement with Warner Chilcott Company to settle all outstanding patent litigation related to Asacol HD (mesalamine) delayed-release tablets. The agreement remains subject to preparation and execution of definitive documentation, Cadila Healthcare said in a statement.
As part of the agreement, Warner Chilcott will grant Cadila and Zydus a royalty- bearing license to market a generic version of Asacol HD beginning on 15 November 2015 or earlier under certain circumstances, following receipt by Zydus of final approval from the USFDA of its ANDA for generic Asacol HD, the company said.
Alternatively, if Zydus does not receive FDA approval of its generic Asacol HD by 1 July 2016, Zydus will be permitted to launch an authorised generic version of Asacol HD beginning on 1 July 2016, it added. Asacol is used to treat ulcerative colitis, proctitis and proctosigmoiditis.
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NHPC's buyback offer, which commenced from 29 November 2013, concludes today, 12 December 2013. The company had planned to buyback around 123 crore fully paid up equity shares of Rs 10 each at a price of Rs 19.25 per share, aggregating Rs 2368 crore, from the open market.
Crompton Greaves after market hours on Wednesday, 11 December 2013, clarified to the stock exchanges that it is taking several actions to stabilise operations of the Canadian plant. Presently, the plant is fully operational and continues to do normal business, the company said. The company added that it monitors its business and based on market assessment, evaluates opportunities to make it profitable.
Crompton Greaves issued the clarification after certain media reports suggested that the company was planning to exit its Canadian power transformer plant to cut losses in its foreign business.
Coal India after market hours on Wednesday, 11 December 2013, said that Competition Commission of India (CCI) vide its order dated 9 December 2013 has pronounced an order against the company and its subsidiaries viz. Mahanadi Coalfields, Western Coalfields and South Eastern Coalfields. CCI slapped a penalty of Rs 1773.05 crore on the state-run coal miner. The CCI has imposed the fine saying Coal India abused its dominant position and imposed unfair conditions in fuel supply agreements with customers. Coal India said that the company is seized of the matter and that the company will initiate appropriate legal action after the receipt of the copy of the order by post.
SKS Microfinance after market hours on Wednesday, 11 December 2013 announced the second microfinance securitization during the current financial year of Rs 80.81 crore.
SKS Microfinance said it has downloaded the receivables from micro loans extended to 100,850 rural women entrepreneurs to a Special Purpose Vehicle, and Pass Through Certificates (PTCs) have been purchased by a major private sector bank. Notably, the entire pool qualifies for priority sector treatment as per RBI's priority sector lending guidelines, the company said in a statement.
SKS Microfinance said that the pool is rated AA (SO) signifying 'High Degree of Safety regarding timely servicing of financial obligation' by one of the leading rating agencies. The pool is structured with geographical diversity as it comprises receivables from 12 non-Andhra Pradesh states and subjected to a minimum seasoning of three months, the company said in a statement.
Wheels India after market hours on Wednesday, 11 December 2013 said that its board of directors proposes to pass a resolution(s) by Circulation on 16 December 2013, inter alia, to consider the issue of equity shares on rights basis for the purposes of complying with the minimum public shareholding requirements applicable to the company, by way of a rights offering to the public shareholders of the company with the promoters and promoter group shareholders of the company foregoing their rights entitlement, as permitted by the Sebi. The promoters held 91.43% stake in Wheels India (as per the shareholding pattern as on 30 September 2013). Promoter shareholding in private companies is not allowed to exceed 75% i.e. minimum public shareholding of 25% to comply with Sebi norms.
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