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SMC's weekly sector updates - IndiaNotes.com
SMC's weekly sector updates
SMC | Published: 30 May, 2017  | Source : IndiaNotes.com

News


Capital Goods


- BHEL has commissioned a 270 megawatt (MW) thermal unit at Sinnar in Nashik district of Maharashtra. The newly commissioned unit is part of RattanIndia Nasik Power Ltd's 5x270 MW thermal power project.


Mining/Metals


- Adani Enterprises deferred a final investment decision on its long delayed Australian Carmichael coal project as the Queensland state government has yet to sign off on a royalty deal for the mine. The company had been planning to make a final investment decision (FID) on the 25 million tonnes a year coal mine and rail project by the end of May.


Automobile


- Mahindra and Mahindra (M&M) has decided to expand its electric vehicle ecosystem by setting up a battery assembly unit at its Chakan facility near Pune. The company will assemble 5,000 battery packs every month by mid- 2019 for use in its electric vehicles.


- Ashok Leyland has undertaken a "three-pronged strategy" for developing its electric vehicle business and was significantly ramping up production .


Pharmaceuticals


- Natco Pharma is expected to expand its active pharmaceutical ingredients (APIs) and API Intermediates manufacturing facility in Telangana's Rangareddy district, with a total estimated project cost of `480.31 crore. The project has recently received environmental clearance fromtheUnion government.


- Strides Shasun has received approval from the US health regulator for memantine hydrochloride tablets used in the treatment of dementia.The product will be manufactured at the company's facility at Bengaluru and marketed by Strides Pharma Inc in the US market.


- Sun Pharmaceutical Industries said the US health regulator has accepted biologics licence application (BLA) for tildrakizumab for the treatment of psoriasis.


- Zydus Cadila has received approval from the US health regulator to market antihistamine Cyproheptadine Hydrochloride tablets in the US market.


Retail


- Future Retail is looking at aggressive expansion of its 'neighbourhood stores' Easy Day and Heritage Fresh to 4,000 stores in three to five years. Presently, it operates 538 EasyDay andHeritage Fresh neighbourhood stores, at present.


- Aditya Birla Fashion and Retail has tied up with the Khadi and Village Industries Commission (KVIC) and launched a product line 'Khadi by Peter England'. Peter England is a menswear brand from the fashion brands portfolio of Aditya Birla Fashion and Retail Ltd (ABFRL).


Miscellaneous


- DCM Shriram has received green nod to set up a molasses-based distillery, along with a co-generation power plant, in Hardoi district of Uttar Pradesh at a cost of 188 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.