Coal India's consolidated net profit fell 23.3% to Rs 2351.13 crore on 3.6% rise in net sales to Rs 18404.32 crore in Q1 June 2017 over Q1 June 2016. The announcement was made after market hours on Monday, 14 August 2017. The market remained closed on 15 August 2017 due to Independence Day.
Lupin said that the company and Natco announced the final ANDA approval of Lanthanum Carbonate Chewable Tablets 500 mg (base), 750 mg (base), and 1000 mg (base) from the United States Food and Drug Administration (FDA). The product, as the first generic, will be launched shortly. The announcement was made after market hours on Monday, 14 August 2017.
Natco's Lanthanum Carbonate Chewable Tablets 500 mg (base), 750 mg (base), and 1000 mg (base) are generic equivalents of Shire Development LLC's Fosrenol Chewable Tablets 500 mg, 750 mg and 1000 mg. Lanthanum Carbonate Chewable Tablets 500 mg (base), 750 mg (base), and 1000 mg (base) are indicated to reduce serum phosphate in patients with end stage renal disease (ESRD). Fosrenol Chewable Tablets has US sales of $122.4 million (IMS MAT June 2017). Lupin and Natco had entered into an agreement on 1 September 2008 to jointly commercialize generic equivalents of Fosrenol Chewable Tablets.
Commenting on the approval, Nilesh Gupta, Managing Director, Lupin said that the conpany's proven IP capabilities, marketing reach and expertise coupled with Natco's solid development and manufacturing abilities make a great combination.
On a consolidated basis, JK Tyre & Industries reported net loss of Rs 117.21 crore in Q1 June 2017 as compared with net profit of Rs 100.47 crore in Q1 June 2016. Total income fell 14.9% to Rs 1942.86 crore in Q1 June 2017 over Q1 June 2016. The announcement was made after market hours on Monday, 14 August 2017.
Kolte-Patil Developers announced that it has successfully completed a strategic divestment of its land parcel in Wakad, Pune for Rs 161 crore. The strategic sale has been undertaken after evaluating the overall feasibility and is in line with the company's strategy of maintaining a lean balance sheet. The company will continue to explore strategic partnerships under asset light models to enhance its overall portfolio and position the company for sustained growth. The announcement was made after market hours on Monday, 14 August 2017.
Tata Global Beverages' (TGB) premium natural mineral water brand 'Himalayan', will now enter the USA market in a phased manner, through an agreement signed by its subsidiary with Talking Rain Beverage Company, the maker of Sparkling Ice flavored sparkling waters to distribute and market the brand. This makes Himalayan which is backed by the trust and credibility of the Tata brand, one of the first premium Indian FMCG brands to target the broader American audience.
This agreement will give Himalayan the benefit of Talking Rain's extensive go to market and execution capabilities in the US, which synergize well with TGB's product expertise and marketing capability. The premium end of the water market in the country is growing rapidly and Himalayan is well positioned to leverage the growth in this segment. The announcement was made on Tuesday, 15 August 2017.
Lycos Internet's consolidated net profit fell 4.32% to Rs 94.68 crore on 1.13% decrease in revenue to Rs 538.40 crore in Q1 June 2017 over Q4 March 2017. The announcement was made after market hours on Monday, 14 August 2017.
Speciality Restaurants announced that the company has opened a new 'Sweet Bengal' confectionery located at Shop No. 3, Chapel Avenue Premises Co-op. Society Ltd., Plot No. 68, Chapel Road, Opp. Mount Carnel's Church, Bandra West, Mumbai with effect from 14 August 2017. The announcement was made after market hours on Monday, 14 August 2017.
NBCC (India)'s consolidated net profit rose 25.7% to Rs 59.16 crore on 0.8% rise in net sales to Rs 1548.90 crore in Q1 June 2017 over Q1 June 2016. The announcement was made after market hours on Monday, 14 August 2017.
Sun Pharmaceutical Industries said that it has received approval of Scheme of Arrangement among Sun Pharma Medisales Private Limited, Ranbaxy Drugs Limited, Gufic Pharma Limited, Vidyut Investments Limited and the company and their respective members and creditors from National Company Law Tribunal. The announcement was made after market hours on Monday, 14 August 2017.
HDFC said that consequent to the approval of the National Company Law Tribunal, the Insurance Regulatory and Development Authority of India on 14 August 2017 has granted its final approval for the merger of HDFC ERGO General Insurance Company, a subsidiary of the company and L&T General Insurance Company. The announcement was made after market hours on Monday, 14 August 2017.
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