Castrol India's net profit fell 33.35% to Rs 137.90 crore on 10.34% fall in total income to Rs 885.90 crore in Q2 June 2017 over Q2 June 2016. The result was announced after market hours yesterday, 23 August 2017.
Shares of public sector banks (PSBs) will be in focus. The Union Cabinet chaired by the Prime Minister Narendra Modi yesterday, 23 August 2017, gave an in-principle approval for PSBs to amalgamate through an Alternative Mechanism (AM). The decision would facilitate consolidation among the Nationalised Banks to create strong and competitive banks.
Reliance Industries (RIL) announced that it was allotted 2.52 crore shares, or 24.92% equity, of Balaji Telefilms on preferential basis at Rs 164 each on 22 August 2017. The announcement was made after market hours yesterday, 23 August 2017.
Lupin announced the launch of its Quetiapine Fumarate Extended-Release Tablets, in multiple strengths having received an approval from the United States Food and Drug Administration (FDA) earlier. The announcement was made at the fag end of market hours yesterday, 23 August 2017.
Lupin's Quetiapine Fumarate Extended-Release Tablets are the AB rated generic equivalent of AstraZeneca Pharmaceuticals LP's Seroquel Tablets. It is indicated for the treatment of schizophrenia; acute manic or mixed episodes in bipolar I disorder alone or as an adjunct to lithium or divalproex; acute depressive episodes in bipolar disorder; maintenance treatment of bipolar I disorder, as an adjunct to lithium or divalproex and as an adjunctive therapy to antidepressants for the treatment of major depressive disorder. Seroquel Tablets had US sales of $1.1 billion (IMS MAT June 2017).
Shivalik Bimetal Controls said that the board of directors of the company in its meeting held on 23 August 2017, has considered and approved issue of bonus shares in the ratio of 1:1, i.e., one bonus share for every one share held. The announcement was made after market hours yesterday, 23 August 2017.
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