Company News

L&T-Outotec Group Gets Rs 7620 Mn Order From SAIL

L&T’s Engineering Construction and Contracts (ECC) segment, in association with Outotec GMBH, has bagged an Rs 7,620 million order for construction of a sinter plant, from SAIL.

Sinter plant of 2 X 204 square metre grate area with a total capability of 3.80 million ton annually, would be fulfilled on a turnkey basis, at the IISCO Steel Plant (ISP) of SAIL, at Burnpur, West Bengal. The project is likely to be completed in 30 months.

Dr Reddy's Gets Final FDA Nod For Ranitidine 150mg Tabs

New Delhi: Dr Reddy’s Laboratories (DRL) has received final approval for its Abbreviated New Drug Application (ANDA) for Ranitidine 150mg pill by the US Food and Drug Administration (FDA)

DRL is the only generic maker to get FDA authorization for this Abbreviated New Drug Application (ANDA) product accompanying the expiry of innovator's patents.

According to a statement, the company will distribute the 150 mg potency in blister counts of 8 and 24’s plus bottles of 50, 65 and 95 counts.

Bajaj Management - Union To Assemble Once Again Next Week

Bajaj Auto LimitedMumbai: After both sides failed to make any decision on Saturday, Bajaj Auto’s administration and its labor union have decided to assemble again next week to talk about closure of the company's Akurdi plant.

Sharad Pawar, Union Agriculture Minister and Ganesh Naik, Maharashtra Labour Minister also attended the conference.

Stock Markets Likely To Open Higher Tracking Positive Clues – Stock Analysts

Dhiruman Mehta, Stock MarketHead Institutional Sales, LKP Shares, said that yesterday the market opened up in a positive mood, and then it sliced down another time, but healed and ended the day in green.

In general, the stock market is looking feeble because of governmental reasons. Fertilizer and FMCG zones did well on the stock exchange today. Mr. Mehta anticipates markets to – open in a positive mood on Thursday (August 23) and reflect worldwide markets after mid session.

F&O And Midcaps Stocks Are Best For Trading At The Moment - Vishwas Agarwal

Today, bulls gained control from bears over trading action. Growth of existing cheerful sentiment on Tuesday is likely to insert other stocks in their support. In contrast, bearish sentiment on Tuesday is expected to modify the current reaction.

According to technical analyst, Vishwas Agarwal that the Indian stocks soared up today accompanying the Fed Reserve’s assessment to slash discount rate by 50 basis points to alleviate the affect of US sub-prime lending situation, but political disruptions over N-deal is constraining fresh buying in the market.

The market is projected to act in line with international markets, guessed Agarwal. At the moment, the stock market is ruled by reaction rather than fundamental principles or techniques.

Market may Recovery Tomorrow - Analyst View

Rahul Agarwal, VP, Institutional Sales, LKP Shares stated that today the stock market saw a big improvement of 4.5%. It reflected the worldwide movement and it depressed on the back of a firmer Yen and global disentangling.
Mr. Agarwal anticipates the securities market to rectify further and touch 14,000 level. On Friday (August 17), markets may remain pessimistic due to sharp fall in valuations. He suggests that buying in the some fundamentally strong stocks is the best bet at this downfall. The stocks include Reliance Industries, Reliance Communications, Reliance Energy, Tata Power and Bharti Airtel.