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Ranbaxy forfeits 180 days exclusivity for stomach drugs

Written By komp limpulima on Selasa, 27 Januari 2015 | 21.03

Drug major Ranbaxy today said that the US health regulator has "determined" that the Indian drug manufacturer has forfeited its 180 days exclusivity for stomach and esophagus problems treatment tablets.

Drug major Ranbaxy  today said that the US health regulator has "determined" that the Indian drug manufacturer has forfeited its 180 days exclusivity for stomach and esophagus problems treatment tablets.

"We have now received a communication from US FDA that they have determined that Ranbaxy has forfeited its 180 days exclusivity for esomeprazole magnesium delayed-release capsules," the company said in a BSE filing.

Esomeprazole is used for treatment of certain stomach and esophagus problems such as acid reflux and ulcers. 

Ranbaxy said it "is disappointed with the result and is pursuing all available legal options to preserve its rights."

In November 2014, US FDA revoked its tentative approvals for Ranbaxy's generic anti-viral drug valganciclovir hydrochloride and esomeprazole magnesium delayed-release capsules 20 mg and 40 mg.

In November, the communication from US Food and Drug Administration (USFDA) said that Ranbaxy's abbreviated new drug application (ANDAs) of concern did not have any data integrity issues.

However it added that "its original decisions granting tentative approvals were in error because of the compliance status of the facilities referenced in the ANDAs at the time the tentative approvals were granted."

Shares of Ranbaxy were trading at Rs 700.15 apiece, down 0.86 per cent from its previous close on the BSE.

Ranbaxy Labs stock price

On January 27, 2015, Ranbaxy Laboratories closed at Rs 706.90, up Rs 0.65, or 0.09 percent. The 52-week high of the share was Rs 714.20 and the 52-week low was Rs 306.05.


The company's trailing 12-month (TTM) EPS was at Rs 20.91 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 33.81. The latest book value of the company is Rs 25.82 per share. At current value, the price-to-book value of the company is 27.38.


21.03 | 0 komentar | Read More

Johnson to buy 25.74% stake in Hitachi via open offer

Johnson Controls said it would acquire little over 70,00,990 shares at an offer price of Rs 821.38 per share amounting to Rs 575.04 crore

Johnson Controls plans to acquire 25.74 percent stake in  Hitachi Home & Life Solutions (India) Ltd through an open offer for an estimated price of Rs 575 crore.

In a public announcement to Hitachi's shareholders, Johnson Controls said it would acquire little over 70,00,990 shares at an offer price of Rs 821.38 per share amounting to Rs 575.04 crore.

In a BSE filing, the company has proposed to launch open offer to acquire "up to 70,00,990 fully paid-up equity shares of face value of Rs 10 each of the target company representing 25.74 percent of fully diluted voting equity share capital."

Last week, Johnson Controls and Hitachi Appliances had entered into a definitive agreement to form a global joint venture (JV) for heating, air conditioning, ventilation and refrigeration (HVAC).

Post completion of the open offer, the JV company, either directly or through one or more subsidiaries, will hold 74.25 percent of the target company, the company added. As per the agreement, Johnson Controls will obtain a 60 percent ownership in Hitachi Appliances. The deal excludes sales and service operations in Japan.

Hitachi Appliances will continue to provide Hitachi branded HVAC products in the Japanese market after this transaction, the company said in a statement.

The transaction is expected to close later this year, subject to regulatory approvals and satisfaction of other customary conditions.

Hitachi Home stock price

On January 27, 2015, Hitachi Home & Life Solutions closed at Rs 1144.35, up Rs 8.55, or 0.75 percent. The 52-week high of the share was Rs 1307.00 and the 52-week low was Rs 129.05.


The company's trailing 12-month (TTM) EPS was at Rs 19.51 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 58.65. The latest book value of the company is Rs 88.27 per share. At current value, the price-to-book value of the company is 12.96.


21.03 | 0 komentar | Read More

Max India demerger gets nod; co to be renamed Max Fin Srvs

The existing company Max India will be renamed Max Financial services and the other two businesses will be listed post the demerger.

The  Max India board today approved the company's corporate restructuring plan that will result in a three-way split. The existing company Max India will be renamed Max Financial Services and the other two businesses will be listed post the demerger.

The first resulting company post the demerger will be named Max India and will manage the investments in health & allied business. The second company will be named Max Ventures and will house the investment activity in the group's manufacturing arm.

The three separate business verticals would look into life insurance, health and allied businesses, and manufacturing industries.

Further the promoter of the Max India Analjit Singh announced his intention to make voluntary open offer to buy up to an additional 34.5 per centstake in Max Ventures and
Industries Ltd which will be listed post the demerger of Max India.

The company's cash reserves of Rs 605 crore will be split between the three listed companies and Max India will sell its clinical research business for USD 1.5 million to Canadian company JSS Medical.

Here's how the stocks will be split:

An investor will get one share in the demerged Max India for every share held. For every five Max India shares held, an investor will get one share in Max Ventures.

The appointed date for the demerger is April 1, 2015.

Nidhesh Jain of EspĂ­rito Santo believes the demerger is a positive on many fronts. He believes the demerger will allow investors get exposure to pure life insurance play as Max India is the only listed life insurance company.

Furthermore, he believes the divestment of Max' clinical research business is important as nobody on the street was giving any valuation to that entity and that will change now.

And lastly, Jain believes the demerger assures investors on the capital allocation strategy of the company.

"Post this demerger they deliver a clear segregation among these three major verticals. This will allay the investors fears. So, investor who wants to take exposure to life insurance can now take the exposure which was not available earlier," he adds.

(With inputs from PTI)

Max India stock price

On January 27, 2015, Max India closed at Rs 492.75, up Rs 38.20, or 8.40 percent. The 52-week high of the share was Rs 505.00 and the 52-week low was Rs 177.60.


The company's trailing 12-month (TTM) EPS was at Rs 5.70 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 86.45. The latest book value of the company is Rs 119.57 per share. At current value, the price-to-book value of the company is 4.12.


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See Rs 1k-cr revenues over 3 yrs via new launches: Sunteck

Mumbai-based real estate company Sunteck Realty , which caters to ultra luxury & luxury residential segment, is planning to launch four new projects in areas like Borivali, Andheri, BKC and Navi Mumbai, this quarter.

Speaking to CNBC-TV18, Kamal Khetan, CMD of Sunteck Realty, said the new launches have revenue potential of Rs 1000 crore over 3 years. The company has achieved 10-20 percent pre-sales of two projects, he added.

Meanwhile, it is learnt that private equity investor Ashish Dhawan (founder & CEO) has bought a little over 1 percent stake in the company. Dhawan has made the purchase in his individual capacity and not in ChrysCapital's account.

Below is the transcript of Kamal Khetan's interview with Reema Tendulkar and Ekta Batra on CNBC-TV18.

Ekta: We do understand that you are looking or are ready to launch four new projects in Mumbai this quarter itself. Can you take us through what these projects are, have you done any sort of presales in it already, where do they stand?

A: These four projects that we are launching is one is Signia High in Borivali, which is close to 3,50,000 sq ft. Another one is Signia Orion which is in Navi Mumbai that is close to 3 lakh sq ft and then we have one commercial project which is coming up in Bandra-Kurla Complex (BKC) Annexe, which is close to one lakh sq ft and the fourth project that we are planning to launch is in Andheri-Kurla road which is called Signia Pride which is close to 60,000 sq ft. So all put together, four projects is equivalent to one million sq ft and the revenue that we are expecting from four projects, it is approximately close to Rs 1,000 crore.

Reema: This Rs 1,000 crore of revenue potential will be spread out over how many years and purely in FY16, how much of this Rs 1,000 crore you can generate?

A: Rs 1,000 crore revenue we are looking to complete this project over a period of three years and in FY16 at least we are looking to target to at least sales from this project on the conservative side, 50 percent of the inventory from these projects.

Ekta: You have already launched these projects but do you have anything where you are already generating any sort of sales or completion of sales that you can tell us about, your current projects onstream?

A: These projects we are launching and some of the presale definitely we have done. That is not much that is 10-20 percent of it.

Ekta: 10-20 percent of all four projects or will it be just one project. Can you tell us what the presale is?

A: We have done some presales in two projects that is Signia High and Signia Orion which is in Borivali and Navi Mumbai and we are close to sold the inventory close to 20-25 percent.

Reema: Are the new launches coming in at higher realisations and if yes, by how much compared to a year ago?

A: Definitely the new launches are definitely coming up. The new launches whatever we are doing in this new launch, the rates are definitely going up and we can see that there is an uptick. People are looking at where the track record, definitely there is -- if you see a good track record of a developer and if the developer is lower leveraged then underconstruction sales have started picking up and that is what we are seeing with us as well.

Ekta: How are you funding these four projects, any sort of debt that you are taking on, any partners?

A: We have been following very prudent method. Whenever we require, we take construction finance but we are expecting a lot of cash flow generation from the presales itself. So we don't see much of the debt. If required, we will go for some construction finance from hereon. Overall, there are 11 projects and out of the 11 projects, we have completed five projects and six projects are under construction. When we add these another four projects, so again there will be close to 11 projects. So the revenues that we will see from all total 11 projects, it will be not restricting to these four projects. 


21.03 | 0 komentar | Read More

SpiceJet to get second tranche of Rs 400 cr on Feb 15

SpiceJet 's new promoter Ajay Singh has invested the first tranche of Rs 100 crore over this weekend and now, the next important date in the airline's survival saga is February 15. As per the recapitalisation plan of Singh, which has been approved by the Ministry of Civil Aviation last week, three important investment related events are expected by then. Singh and a consortium of investors has promised a total of Rs 1500 crore investment in the cash strapped airline in tranches.

1) The second tranche of Rs 400 crore investment from Singh and company is slated to come in by February 15.

2) Outgoing promoters, the Marans, are expected to complete conversion of some warrants for a total sum of close to Rs 300 crore by then.

3) Additionally, the Marans are also expected to pay close to Rs 370 crore in redeemable instruments in two tranches, the first of which is due by February 15. By this date, the Marans are to pay Rs 320 crore.

This last payment could well be a sort of hair cut that has been agreed upon as a part of the transaction which will see the Marans cashing out. Singh's recapitalisation plan has been approved with these timelines but it remains to be seen if they are met, given extraneous challenges which abound for the incoming promoters.

To begin with, the crucial decision of market regulator Sebi about waiving an open offer for the acquisition of over 58 percent stake by Singh and his consortium from Marans is still pending. The ministry's approval is merely for a change of management and is anyway subject to the acquirers adhering to FIPB/DIPP norms in respect of foreign airline investment. It is also subject to incoming directors on the airline's board getting Home Ministry clearances for security. But it says nothing about whether an open offer by the incoming promoters can be waived - that decision has been left to Sebi.

Secondly, the airline has total liabilities of Rs 1580 crore and creditors will need a lot of patience in the coming days to get their dues back. According to the plan cleared by the Ministry, Spicejet owes Rs 187 crore to the Airports Authority of India, Rs 89 crore to other airports, Rs 143 crore to tax authorities, Rs 653 crore to aircraft lessors and Rs 508 crore to other creditors.

Thirdly, the airline needs to rework its costs and renegotiate contracts to be able to compete in an aggressive market.

Leasing companies have already made it clear that they are not playing the patience game. In all likelihood, they will be able to repossess 11 of the 19 Boeing 737 aircraft currently flying with the airline this week. They are only waiting for a decision from the DGCA on this matter.

If that happens, SpiceJet's fleet will be severely curtailed and unless its negotiations with two other airlines for getting as many aircraft on fresh lease succeed, SpiceJet may be in a spot of trouble quickly enough.

SpiceJet stock price

On January 27, 2015, SpiceJet closed at Rs 22.60, up Rs 0.35, or 1.57 percent. The 52-week high of the share was Rs 24.10 and the 52-week low was Rs 11.10.


The latest book value of the company is Rs -16.49 per share. At current value, the price-to-book value of the company was -1.37.


21.03 | 0 komentar | Read More

German regulator hails EMA's drugs suspension on GVK Bio

Written By komp limpulima on Minggu, 25 Januari 2015 | 21.03

German drug regulator has welcomed the European Medicine Agency's (EMA) decision to suspend the marketing authorisation of around 700 generic drugs subjected to clinical trials by India's GVK Biosciences.

German drug regulator has welcomed the European Medicine Agency's (EMA) decision to suspend the marketing authorisation of around 700 generic drugs subjected to clinical trials by India's GVK Biosciences.

The move is being seen as the EU's determination to maintain high ethical and medical standards for approval of medicines. The EU drug regulator's announcement is also an endorsement of the Federal Institute for Drugs and Medical Devices' (BfArM) decision last month to ban the sale of 80 generic drugs on account of "substantial deficiencies" in clinical trials conducted by GVK Biosciences, the agency said in a statement. 

The German watchdog said it will take a decision shortly on whether to add more medicines to the list of banned drugs in the wake of the EMA's announcement. The agency based in Bonn had so far reviewed the marketing approvals of 176 generic drugs granted on the basis of clinical trial data provided by GVK Biosciences during the period between 2008 and 2014 and this will be extended to cover the period of 2004-2007 as recommended by the EMA, the statement said.

The EU drug regulator on Friday suspended the marketing authorisation of around 700 generic drugs on the grounds that their approvals were supported by "flawed" clinical trial data provided by the Indian company. 

It urged the European Commission to take a legally binding decision to ban the concerned drugs unless the marketing authorisation holder submits the results of a new bio-equivalence study.

The German regulator said out of around 50 medicines banned at present, suspension of marketing authorisation could not be implemented in the case of a total of 21 medicines due to legal challenges by their manufacturers and their sales will continue until further notice. It has no information that these medicines posed any health risk for patients who continued to use them, according to the statement.

The agency had lifted the suspension of marketing approval for several medicines after their manufacturers submitted new clinical trial data.


21.03 | 0 komentar | Read More

Twitter acquires ZipDial for an undisclosed amount

Microblogging website Twitter was in final talks to acquire mobile marketing start up and our Young Turks ZipDial. Young Turks caught up with ZipDial and Twitter to find out more about the deal value and their future plans for emerging markets.

Microblogging website Twitter  was in final talks to acquire mobile marketing start up and our Young Turks ZipDial. Young Turks caught up with ZipDial and Twitter to find out more about the deal value and their future plans for emerging markets.


21.03 | 0 komentar | Read More

Jet seeks nod to raise $300mn through bond sale to Etihad

Jet Airways has sought the approval of shareholders to raise up to USD 300 million (about Rs 1,843 crore) through issue of securities to Etihad on a private placement basis.

Jet Airways  has sought the approval of shareholders to raise up to USD 300 million (about Rs 1,843 crore) through issue of securities to Etihad on a private placement basis.

UAE-based Etihad Airways PJSC holds 24 percent stake in the domestic carrier.

Jet Airways plans to raise up to USD 300 million through the issue of securities to Etihad, according to a postal ballot notice sent to its shareholders seeking their approval for the proposal. 

It has sought nod "to offer, issue and allot secured and/ or unsecured, listed and/or unlisted non-convertible debentures and/or subordinated debt instruments and/or other debt securities or bonds for an aggregate value of up to USD 300 million on a private placement basis to Etihad Airways...", the notice said.

During the quarter ended September 2014, Jet Airways had reported 96 percent reduction in net losses on a one-time income by way of sale of JPmiles to Etihad. The Rs 305 crore income from sale of its loyalty programme to equity partner Etihad helped Jet slash losses by 95.7 percent to Rs 43 crore.

It had reported a whopping Rs 999 crore net loss in the same period a year ago. Shares of the company closed marginally down at Rs 434.85 on the BSE.

Jet Airways stock price

On January 23, 2015, Jet Airways closed at Rs 434.85, down Rs 1.65, or 0.38 percent. The 52-week high of the share was Rs 474.95 and the 52-week low was Rs 203.50.


The latest book value of the company is Rs -196.11 per share. At current value, the price-to-book value of the company was -2.22.


21.03 | 0 komentar | Read More

Coal scam: CBI registers fresh case against Hindalco

CBI has registered a fresh case in the coal block allocation scam against Indal (now Hindalco , Aditya Birla group) in connection with the allocation of Talabira-I coal block, twenty years ago.

The agency today carried out search operations at four places including one in Mumbai and three places in Sambalpur, Odisha after registering the case, CBI sources said. It is alleged that the coal was used by the company in an unauthorised manner in the existing power plant whereas the allocation was done for expanding the capacity of new power plant, the sources said.

The agency has also alleged that mining was started by the company wihout obtaining the mandatory permission. The sources said agency has named Indal (now Hindalco) and unknown public servants in connection with the case.

Public servants, the agency alleged, facilitated the illegal operations by not taking action against unauthorised use despite their knowledge.

Talabira-I coal block in IB valley in Odisha, with nearly 22.55 million tonnes of geological reserves, was allotted to Indal on February 25, 1994. "In continuation with their investigation into 185 coal mines across industry, the CBI has now begun its investigation into Talabira-I, a mine allocated in 1994 to the erstwhile Indal, which was later acquired by Hindalco. In this connection, the CBI carried out searches in three of the Company's sites," the Aditya Birla group spokesperson said.

The company is already facing probe in the Talabira-II coal block in which CBI has recently examined former Prime Minister Manmohan Singh, his Principal Secretary TKA Nair besides head of Aditya Birla Group Kumar Mangalam Birla.

The agency had filed a closure report in the allocation of Talabira-II which has been rejected by the Special Court which directed CBI to re-investigate the matter.

Responding to the development, Hindalco said: "As is known the CBI has been investigating coal block allocations made since 1993, under the monitoring of the Supreme Court. With regard to allocation of 15% share to Hindalco in Talabira II & III coal mine, the CBI has already filed their closure report."

"In continuation with their investigation into 185 coal mines across industry, the CBI has now begun its investigation into Talabira I, a mine allocated in 1994 to the erstwhile Indal, which was later acquired by Hindalco. In this connection, the CBI carried out searches in three of the Company's sites," it added.

Already, the Supreme Court has cancelled the allocation of 204 coal mines to all the respective companies. The mines will be auctioned as announced by the Ministry of Coal.

Hindalco stock price

On January 23, 2015, Hindalco Industries closed at Rs 144.75, up Rs 1.15, or 0.80 percent. The 52-week high of the share was Rs 198.70 and the 52-week low was Rs 96.95.


The company's trailing 12-month (TTM) EPS was at Rs 4.79 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 30.22. The latest book value of the company is Rs 177.87 per share. At current value, the price-to-book value of the company is 0.81.


21.03 | 0 komentar | Read More

Indian biz fantastic; one of APAC's pillar: DHL

The e-commerce boom in India has led to logistic companies making significant changes in their business models.Storyboard's editor Anant Rangaswami spoke with DHL's APAC CEO Jerry Hsu to understand how the wordl's largest logistics company is coping with that change.

The e-commerce boom in India has led to logistic companies making significant changes in their business models. Apart from additional business, the largely B2B service providers now find themselves increasingly dealing with consumers and tackling issues faced by B2C companies. Storyboard's editor Anant Rangaswami spoke with DHL's APAC CEO Jerry Hsu to understand how the world's largest logistics company is coping with that change.

Watch videos for more.


21.03 | 0 komentar | Read More
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