Tag: Mumbai

Ajanta Pharma bags approval for Entacapone Tablets

04/09/2017 11:03

Leading pharma major, Ajanta Pharma Limited has said that it has received final approval for Entacapone Tablets from US FDA. It is a bioequivalent generic version of Comtan®1 Tablets. Company will be launching the product shortly in 200mg strength tablets.

“Entacapone Tablets is part of an ever growing portfolio of products that Ajanta has developed for the US market. In total, Ajanta has 35 Abbreviated New Drug Application (ANDA) of which it has final approvals for 20 ANDAs; tentative approvals for 2 ANDA; and 13 ANDAs are under review with US FDA,” the company said in a filing to the Bombay Stock Exchange.

Ajanta Pharma Limited is a specialty pharmaceutical formulation company with global headquarters in Mumbai, India. Over 6,500 employees are engaged in developing, manufacturing and marketing of quality finished dosages across 30+ countries.

Meanwhile, shares of the company were trading at Rs 1202.10 apiece, up 0.10 per cent from the previous close at 11:08 hours on BSE.

Gold drops on stronger dollar

Gold drops on stronger dollar

12/05/2016 12:52

Gold prices fell by 0.22 per cent on Thursday as a stronger dollar reduced the appeal of gold as an alternative asset. Stronger greenback makes the bullion expensive for those holding other currencies, thus reducing demand.

Gold futures for June 2016 contract, at MCX, were trading at Rs. 29,869 per 10 grams, down by 0.22 percent after opening at Rs. 29,886 against the previous closing price of Rs. 29,935. It touched the intra-day high of Rs. 29,892 till the trading. (At 12.40 PM today).

However, losses were limited with investors cautious ahead of the G7 meeting in Tokyo this month and June’s referendum on the UK and the European Union.

BSE SME platform expects 30 IPOs in 3 months

BSE SME platform expects 30 IPOs in 3 months

09/05/2016 01:36

Leading stock exchange BSE said that it is expecting 30 initial public offerings (IPOs) on its small and medium-sized enterprises (SME) platform in next three months, as per the media reports.

This is on top of 17 SMEs that already got listed in this year.

“The IPO pipeline is good, which shows that confidence among the companies. We are expecting 30 SME IPOs in the next three months,” BSE MD and CEO Ashishkumar Chauhan said, quoted PTI.

He was speaking on the sidelines of a seminar on ‘Is the corporate sector over-regulated?’, organised by an industry body.

Listing will help these companies enter and finally to graduate on to the mainboard.

These companies belong to a wide range of sectors, like logistics services, media, automotive components, infrastructure and hospitality, among others.

BSE had launched SME platforms in March 2012 to provide opportunity to such firms to raise capital for growth and expansion. Since then a total of 136 companies got listed on its SME segment and 18 of these firms have migrated to the main board platform.

FDI in India up 29 pct after ‘Make in India’ launch: Min

FDI in India up 29 pct after ‘Make in India’ launch: Min

17/03/2016 10:15

The Indian Government has said that Foreign Direct Investment in the country has increased by 29 per cent for the 15-month period ended December last year after the launch of ‘Make in India’ initiative.

As per reports, the initiative aims at promoting India as an important investment destination and a global hub for manufacturing, design and innovation.

Commenting on the issue, Commerce and Industry Minister Nirmala Sitharaman told the media, “FDI inflow has increased 29 per cent during October 2014 to December 2015 (15 months after ‘Make in India’) compared to the 15 months period prior to the launch of this initiative.”

“During April-January 2016, the government has received 424 FDI proposals. Out these, 285 proposals have been disposed of,” he added.

The Minister further added that foreign investment in business to customer (B2C) e-commerce activities had been “opened in a calibrated manner” and entity was permitted to undertake retail trading through e-commerce under certain circumstances.

Total PE investments in 2015 at $19.5 bn

Total PE investments in 2015 at $19.5 bn

15/03/2016 14:33

Private equity investments during the October-December period totalled USD 3.9 billion, taking the deal value for the year 2015 to USD 19.5 billion – the “best ever” for India, said a PwC report.

According to the PwC MoneyTree India report, a quarterly study of PE investment activity based on data provided by Venture Intelligence, the fourth quarter of 2015 saw investments worth USD 3.9 billion, a 12 per cent drop as compared to the same period of 2014.

However, despite the drop, the stellar performance throughout the year helped 2015 become the best year ever, with a total of USD 19.5 billion worth of PE inflows across 159 deals, reported PTI.

“India’s macros are looking good, with the current account and fiscal deficit at acceptable levels, a relatively stable rupee, inflation at below 5 per cent and, most importantly, a declining interest rate regime. This should encourage private investment as demand picks up,” PwC India leader, Private Equity Sanjeev Krishan said.

Sectorwise, the information technology and IT-enabled services (IT & ITeS) continued to be the biggest sector, as this space attracted USD 1.3 billion in 93 deals, followed by the banking, financial services and insurance (BFSI) sector that attracted USD 910 million in 10 deals.

“In 2015, sectors such as banking, insurance and telecom saw the stabilisation of their business and opened up their technology spend over the year, thereby driving the growth of the Indian IT & ITeS industry,” PwC India leader – Technology, Sandeep Ladda said.

“Media & entertainment sector was a surprise, attracting investments worth USD 414 million,” the report said.

Regionally, Mumbai attracted USD 1.9 billion, while Bengaluru was a distant second with investments worth USD 733 million.

Going forward, Krishan said, “financial services, technology and healthcare continue to see sustained activity in 2016, while e-commerce fundraising may get challenging this year at least in the near term”.

He added that the Indian Government’s focus on making it easier for foreign investors to do business in India will help from a perception standpoint and needs to be backed by real reform.