Lupin after market hours yesterday, 28 December 2015, announced that it has received final approval from the United States Food and Drug Administration (USFDA) for its Fyavolv Tablets, a generic version of Warner Chilcott's Femhrt Tablets. Lupin's US subsidiary, Lupin Pharmaceuticals Inc. would commence promoting the product in the US shortly, Lupin said in a statement. Lupin's Fyavolv Tablets are indicated for the treatment of moderate to severe vasomotor symptoms due to menopause and prevention of postmenopausal osteoporosis. Femhrt had annual sales of $39.9 million in the United States as per IMS MAT September 2015 data.
Jindal Steel & Power (JSPL) announced after market hours yesterday, 28 December 2015 that its board of directors through a circular resolution passed on 28 December 2015, approved giving of the right in terms of RBI circular on the strategic debt restructuring scheme dated 8 June 2015, to the lenders of Jindal Power (JPL) for its 1,200 megawatts (MW) (2X600 MW) thermal power project situated at Raigarh district in Chhattisgarh (Phase III project) for conversion of its loan into equity share capital of JPL in the event of default. JPL is a power subsidiary of JSPL.
National Buildings Construction Corporation (NBCC) announced after market hours yesterday, 28 December 2015 that Nabinagar Power Generating Company (a joint venture of NTPC & Bihar State Power Generation) awarded the work of permanent township package for Nabinagar super thermal power project (3x660MW) to the company for Rs 328.08 crore.
JBF Industries' board of directors at a meeting held yesterday, 28 December 2015, passed a resolution to issue and allot 1.63 crore fully paid-up equity shares of the company on preferential allotment basis to KKR Jupiter Investors Pte Ltd., Singapore, at an issue price of Rs 300 per share. The announcement was made after market hours yesterday, 28 December 2015.
Titan Company in its update for the quarter ending Q3 December 2015 announced that the festive season had a mixed response from consumer for the company's different categories. While jewellery sales were buoyant for the season, watches and eye wear category did not see the expected traction. The festive season was a wash out in Tamil Nadu and was generally below expectation in rest of the southern states due to the weather conditions.
In a press release dated 15 December 2015, the Ministry of Finance has amended the limit for quoting PAN card for purchase of jewellery worth Rs 2 lakh to Rs 5 lakh per transaction. This is effective from 1 January 2016 and is applicable to all transactions in goods and services, exceeding Rs 2 lakh. This may potentially have some impact on the cash sales of individual products ranging from Rs 2 lakh-Rs 5 lakh, which amount to less than 10% of the revenue of the division in the recent past. The company is already compliant regarding PAN card requirement for jewellery purchases above Rs 5 lakh so this will not get affected by the amendment, the company said.
The company's jewellery division saw good traction during the festival season and same store growth was healthy. While the festive season was buoyant in the rest of the country, it was below par in Chennai, Bangalore and upcountry Tamil Nadu, due to rains, Titan Company said. The announcement was made after market hours yesterday, 28 December 2015.
Ajmera Realty & Infra India said it has incorporated a wholly-owned subsidiary company, Ajmera Corporation UK, a company limited by shares, in Wembley, London, United Kingdom. This investment is planned for real estate construction and development projects in London, United Kingdom. The announcement was made after market hours yesterday, 28 December 2015.
Advanta said that its board will meet on 31 December 2015, to consider conversion notice received from the foreign currency convertible bonds (FCCBs) holders. The board will consider allotment of equity shares and issue of global depositary receipts (GDRs) upon conversion of FCCBs. The announcement was made after market hours yesterday, 28 December 2015.
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