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SMC's weekly sector updates - IndiaNotes.com
SMC's weekly sector updates
SMC | Published: 29 Mar, 2017  | Source : IndiaNotes.com

Metal & Mining


- Hindalco Industries is planning to set up a 24 Mw solar power plant within the premises of its aluminium plant at Lapanga in Sambalpur district. The company intends to invest `150 crore in the project to be spread over 120 acres of land available with the company.


Power


- NTPC has commissioned 2nd unit of 800 MW of Kudgi Super Thermal Power Station (3 X 800 MW) has been commissioned. With this, the commissioned capacity of Kudgi Super Thermal Power Station, NTPC and NTPC group has become 1600 MW, 42977 MW and 49943 MW respectively.


- NHPC has signed Power Purchase Agreements in respect seven power stations namely Bairasiul, Salal, Tanakpur, Chamera-I, Uri-I, Sewa-II and Chamera-III with Tata Power- Delhi Distribution on 22 March 2017.


Capital Goods


- BHEL has commissioned a 250 MW unit at the upcoming Bongaigaon thermal power station in Assam and is executing the main plant package contract for setting up three coal-fired units of 250 MW each at Bongaigaon TPS of NTPC.


- Sunil Hitech Engineers has won a 982 crore highway project in Maharashtra to widen a stretch on NH 211. The National Highways Authority of India (NHAI) has given the work for constructing and widening the existing 2-lane Bodhre to Dhule road section of NH-211 to four/six lane in Maharashtra for a bid project cost of 982 crore on Hybrid annuity Model (HAM).


Infrastructure


- Larsen & Toubro has bagged an offshore project order worth 1,656 crore from state-run ONGC. The order, which was bagged and will be executed by L&T's subsidiary, L&T Hydrocarbon Engineering relates to ONGC's Neelam Re- Development & B173AC projects.


Pharmaceutical


- Piramal Enterprises has completed acquisition of a portfolio of drugs for spasticity and pain management from Mallinckrodt LLC. The acquisition for a cash consideration of $171 million and up to an additional $32 million payable depending on financial performance of the acquired assets over the next three years.


- Glenmark Pharmaceuticals USA has got tentative approval from the United States Food and Drug Administration (USFDA) for Fingolimod capsules, the generic version of Gilenya capsules of Novartis Pharmaceuticals Corp.


- Glenmark Pharmaceuticals USAhas received approval from the United States Food and Drug Administration (USFDA) for Clobetasol Propionate Ointment, used for treatment of various skin conditions. The approved product is a generic version of Fougera Pharmaceuticals Inc's Temovate Ointment, 0.05 per cent.


- Wockhardt has received approval from the US health regulator to market generic version of Wyeth's Zosyn, used for treating bacterial infections, in the American market.


Oil & Gas


- ONGC has signed definitive agreements to buy out debt-ridden GSPC's entire 80 per cent stake in KG-basin natural gas block for $1.2 billion.


Telecom


- Bharti Airtel has announced that it will acquire the 4G business of Tikona along with the BWA Spectrum in the 2300 MHz band in UP (East), UP (West) and Rajasthan through its subsidiary Bharti Hexacom, thereby achieving pan India footprint in the 2300 MHz band. This acquisition will significantly bolster Airtel's current spectrum holding in all the 5 circles and specifically in Gujarat and Himachal Pradesh to 30 MHz in that band. The cost of acquisition in approximately 1600 crore.

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About SMC
SMC Research, founded in 1990, is India’s leading share and stock broker, provides a wide range of financial services and investment solutions. A blend of extensive experience, diverse talent and client focus has made us the 4th largest broking house in India(Source: Dun and Bradstreet, 2008). Over the years, SMC has expanded its operations domestically as well as internationally. Existing network includes regional offices at Mumbai, Kolkata, Chennai, Cochin, Ahmedabad, Jaipur, Hyderabad, Bangalore plus a growing network of 2100+ offices spread across 425 cities/towns in India.


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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.