Coal India and its subsidiaries achieved 98% of targeted production at 40.97 million tonnes in May 2015. The announcement was made after market hours yesterday, 1 June 2015. Coal India achieved 96% of targeted offtake at 43.74 million tonnes in May 2015.
Shares in interest rate sensitive sectors such as banks, automobiles and real estate will be watched as the Reserve Bank of India (RBI) is scheduled to announce the outcome of its second bi-monthly monetary policy review for the year 2015-16 at 11:00 IST today, 2 June 2015. Economists expect the RBI to cut its benchmark lending rate viz. the repo rate by 25 basis points to 7.25% after a monetary policy review today, 2 June 2015. Economists expect rate cut from the central bank in an attempt spur growth.
Sun Pharmaceutical Industries and AstraZeneca Pharma India (AZPIL) today, 2 June 2015, announced that AZPIL and Sun Pharma have entered into a distribution services agreement in India for AstraZeneca's brand Axcer, a new brand of ticagrelor, a drug used for the treatment of acute coronary syndrome (ACS). AZPIL already has a brand under the trademark Brilinta, for ticagrelor molecule, launched and marketed by AZPIL in India since 2012. Sun Pharma will be promoting and distributing Axcer brand in India. This collaboration enables AstraZeneca to expand usage of this molecule through wider reach to physicians and thereby benefiting a greater number of ACS patients. It strengthens Sun Pharma's cardiology portfolio with the addition of a new patented therapy.
Tata Motors' total commercial and passenger vehicles sales (including exports) rose 5% to 39,496 units in May 2015 over May 2014. The company announced the sales data after market hours yesterday, 1 June 2015. Domestic sales of Tata commercial and passenger vehicles for May 2015 were at 34,818 units, unchanged from May 2014. Sales of Tata Motors passenger vehicles rose 21% to 11,138 units in May 2015 over May 2014. The growth trend was driven by the cars segment, specifically the new launches of Zest and Bolt and with positive early response to the new GenX Nano, Tata Motors said. The sales of the passenger cars rose 32% to 9,176 units in May 2015 over May 2014. The UV sales fell 15% to 1,962 units in May 2015 over May 2014. In the commercial vehicles, M&HCV sales rose 17% to 10,788 units in May 2015 over May 2014. The light & small commercial vehicle sales dropped 19% to 12,892 units in May 2015 over May 2014, reflecting the industry decline. These impacted the overall commercial vehicles sales for the company in the domestic market which dropped 6% to 23,680 units in May 2015 over May 2014. Exports rose 47% to 4,678 units in May 2015 over May 2014.
TVS Motor Company's (TVS Motor) total sales rose 6% to 2.20 lakh units in May 2015 over May 2014. The announcement was made after market hours yesterday, 1 June 2015. Total exports rose 22% to 43,595 units in May 2015 over May 2014. Two-wheeler exports rose 27% to 35,310 units in May 2015 over May 2014. Total two-wheeler sales rose 7% to 2.10 lakh units in May 2015 over May 2014. Domestic two-wheeler sales rose 3% to 1.75 lakh units in May 2015 over May 2014. Scooters sales rose 7% to 54,426 units in May 2015 over May 2014. Motorcycles sales rose 8% to 91,344 units in May 2015 over May 2014. Three-wheeler sales dropped 1.34% to 9,236 units in May 2015 over May 2014.
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Adani Ports and Special Economic Zone will be in focus after the Reserve Bank of India after trading hours yesterday, 1 June 2015, notified increase in the ceiling on investment in the company's shares by foreign institutional investors (FIIs)/Registered Foreign Portfolio Investors (RFPIs) under the portfolio investment scheme to 40% of the paid up capital of the company. Total holding of FIIs in Adani Ports and Special Economic Zone stood at 15.52% as on 31 March 2015.
Aurobindo Pharma after market hours yesterday, 1 June 2015, said it has received final approvals from the US Food & Drug Administration (USFDA) to manufacture and market Metronidazole Tablets USP 250mg and 500mg. Aurobindo said it will commence shipping the product shortly. The approved ANDA is bioequivalent and therapeutically equivalent to the reference listed drug product (RLD) Flagyl Tablets, 250mg and 500mg of GD Searle LLC, Aurobindo said in a statement.
Metronidazole Tablets are used to treat different types of infections which are due to particular types of bacteria and some other infectious organisms, or to prevent infection during an operation. The product has an estimated market size of $58 million for the twelve months ended March 2015, according to IMS data.
Amtek Auto after market hours yesterday, 1 June 2015, said it has successfully closed the acquisition of the iron casting, aluminium casting, forging and machining business (the business) of Asahi Tec. The business comprises three manufacturing facilities in Japan, two in Thailand and a strategic holding in a joint venture in China. The acquisition of the joint venture interest is expected to close at a subsequent later date, Amtek Auto said. The business has year ended March 2015 revenue of $375 million, Amtek Auto said.
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