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06-Sep2016

Dr. Reddy's, Vedanta and NBCC to see some action today

Dr. Reddy's Laboratories has launched Bupropion HCI extended-release tablets, USP (SR) in 100 mg, 150 mg and 200 mg, a therapeutic equivalent generic version of Wellbutrin SR (bupropion HCI) Sustained-Release Tablets in the United States market approved by the US Food & Drug Administration (USFDA). Dr. Reddy's Buproprion SR tablets are available in 100 mg, 150 mg and 200 mg, in bottle count sizes of 60, 100 and 500. Wellbutrin SR is a registered trademark of the GSK group of companies. The Wellbutrin SR brand and generic had US sales of approximately $109.6 million MAT for the most recent twelve months ending in July 2016, according to IMS Health.

Mining conglomerate Vedanta will invest up to Rs. 3,000 crore in copper operations to double the capacity to 8 lakh tonnes by 2019, making the firm India's largest producer of the metal. The firm led by billionaire Anil Agrawal has a custom smelter, a refinery, phosphoric acid plant, sulphuric acid plant, copper rod plant and three captive power plants at Tuticorin (Tamil Nadu) as well as a refinery and two copper rod plants at Silvassa (Dadra and Nagar Haveli). The company has been granted around 250 acres of land by the Tamil Nadu government in the special economic zone area in Titucorin, where it will set up another smelter of 400 kilo tonnes capacity.

State-owned construction firm NBCC has bagged projects worth Rs 614.83 crore last month. Of which, a project worth Rs 120 crore was signed with Archaeological Survey of India (ASI) for construction of Institute of Archeology and UNESCO category-II centre in Greater Noida. Another project worth Rs 100 crore was inked with Goa Shipyard (GSL) for construction of an office building for mine counter measure vessels and an additional space in the yard of GSL. The company had got a business of Rs 344.72 crore in July.

Brahmaputra Infrastructure has received a Letter of Award (LOA) from the office of Chief Engineer Level - II, National Highways & Bridge (G.M.) PWD, Dehradun, Uttarakhand. The accepted bid project is Rs 49.80 crore. The LOA is for the project of construction of 4 Lane ROB in Km 161 on NH - 72 (New No. 07), at Ajabpur Railway Crossing in state of Uttrakhand in EPC Mode.

Entertainment Network (India) (ENIL) has launched 3 more channels on September 05, 2016. These are in Ahmedabad (104 FM), Jaipur (104 FM) and Surat (91.9 FM). With these three launches, the company will be operating 44 channels in all. In each of these cities, these channels are the 2nd channels belonging to the company. The first channels are branded Radio Mirchi (all 98.3 FM). The 2nd channels will be branded Mirchi Love, which is a new brand that the company is launching.

FMCG major ITC is looking to strengthen wellness category offerings under the branded packaged foods business, even as it looks to leverage the equity of the 'Aashirvaad' brand across other segments. The recent launch of the 'Aashirvaad sugar release control atta' is seen as one such move to shore up the health-based portfolio. Priced at 60/kg, the new variant - the sixth sub-brand under Aashirvaad atta - has low glycaemic index, useful for diabetic patients. It has already been rolled out nationally. A lot of products - catering to the wellness segment and otherwise - are in development stages across the company's Life Sciences & Technology Centre in Bengaluru.

Pune-based Praj Industries is looking to tie up with private equity funds and foreign lenders after having announced setting up of a green fund last month. The ethanol technology provider is now focusing on second-generation ethanol production from agri-residue. The newly announced fund will finance setting up of such projects. Praj has installed around 100 first-generation (1G) ethanol plants in India. It claims that six-seven percent of global ethanol is produced from technology provided by it. It exports technology to 75 countries, including the UK, the US, Germany and Belgium.

The non-performing assets (NPAs) of Power Finance Corporation (PFC), one of the key state-owned lenders to the sector, grew 198 percent to Rs 7,519 crore in FY16 compared to the previous year. The company's profits were muted, too, in the fourth quarter of FY16, due to higher provisions on account of NPAs and an increase in restructured assets. Indicating the rising stressed assets in the power sector, the ratio of PFC's gross NPAs to total loan assets stood at 3.15 percent in FY16. The figure was 1.16 percent in the previous year.


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