Ranbaxy Labs good for long term investment. The company has a robust growth model and the recent fall in valuations makes the stock even more attractive. There are some issues which are a big concern for the company, however, as the stock markets will stabalize, the Ranbaxy stock will also bounce back. There are three major bad
Indian Stock markets closed in negative zone on Thursday. NSE Nifty lost 69 points to close at 3269 while BSE Sensex was down by 227 points at 10581. The markets were trading under pressure due to weakness in global markets. Japan’s Nikkei was among major losers with the index closing at 8458, down by 1089 points.
Major losers among Indian stocks were Oil and Gas, Metals and Auto Stocks. Among the sectors which closed marginally higher were Bank stocks and Consumer Durables.
Strides Arcolab has received US Food and Drug Administration (USFDA) approval for its two new drugs. Both drugs are used for normalizing blood circulation.
The company has received Abbreviated New Drug Application (ANDA) approval for two drugs named Dexamethasone Sodium Phosphate Injection USP, 4 mg (base)/ml in 1ml, 5 ml, and 30 ml vials, and Dexamethasone Sodium Phosphate Injection USP, 10 mg/ml in 10 ml vials.
Mumbai-based PBA Infrastructure Ltd on Thursday said it has bagged contracts worth Rs 122 crore from Pimpri Chinchwad Municipal Corporation in Maharashtra.
The order involves road construction and maintenance of Aundh-Ravet Road.
PBA Infrastructure is engaged in execution of civil engineering projects and specializes in construction of highways, dams, runways, bridges and other infrastructure projects.
Noida-headquartered Indo Asian Fusegear Limited (IAFL) has informed that the company has secured an order worth Rs 23 crore for the export of electrical distribution equipments, used in the distribution of power from West Africa.
Indo Asian Fusegear, Ltd. engages in the manufacture and marketing of electrical products in India The company also exports its products to European countries, as well as to neighboring countries, such as Nepal and Sri Lanka.
Gammon Infrastructure Projects Limited, a part of Gammon India Ltd, has received a letter of allotment worth Rs 800 crore from Andhra Pradesh Government for a project on BOT basis.
The scope of work involves designing, constructing, financing, operating and maintaining of project, which is spread across the river Godavari connecting Rajahmundry and Kovvur in Andhra Pradesh.
The company will receive a total grant of Rs 208 crore from the Central & State Government during the construction and operation period of the project.
Mumbai-based Phoenix Mills, a leading developer of malls and retail space, has informed that MPC Synergy, a Germany-based company will invest up to € 200 million (about Rs 1300 crore) in the Special Purpose Vehicles (SPV) of the Mumbai-based real estate developer as well as EWDPL India Pvt. Ltd.
Secunderabad-based Cubex Tubings Ltd, a provider of global telecom software products that offers comprehensive and flexible solutions, has received order worth Rs 6 crore from Power major, NTPC Ltd under competitive bidding.
Cubex Tubings manufactures metal tubes and pipes in India. It also manufactures and exports copper and copper base alloy pipes, tubes, rods, profiles, strips, and wires.
Hyderabad-based Sujana Towers has informed that it has acquired 51% stake in Mauritius-based telecom infrastructure company Telesuprecon Ltd for an undisclosed sum.
At present, Telesuprecon is in advanced stages of negotiations for securing telecom infrastructure contracts of aggregate value around $40 million to be executed over the next 12-21 months. The company has branches in various east and central African countries.
Mumbai-based Speciality Papers Limited has informed that it has secured and order worth US$ 1.5 million from South East Asian procurers.
Under the order, the company will supply its specialty grade papers that the company produces from its manufacturing facilities located at Vapi.
The order will be executed over the next 12 months.