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SMC's weekly sector updates -
SMC's weekly sector updates
SMC | Published: 28 Jun, 2017  | Source :

Information Technology

- India's IT industry is expected to grow at its slowest pace in nearly a decade as clients defer spending in the face of geopolitical uncertainties. Industry body Nasscom projected software export growth in fiscal 2017-18 at 7-8% in constant currency, down from 8.6% last year. The domestic market is anticipated to grow at 10-11%.


- NTPC is aiming at generating 250 billion units (BU) of electricity in the current fiscal under a performance pact inked with the power ministry. The target for revenue from operations is `79,280 crore under the pact. The Memorandum of Understanding for 2017-18 between NTPC and the Ministry of Power was signed.

Oil & Gas

- Reliance Industries partner BP have withdrawn the gas price-related arbitration against the government, paving the way for the companies to claim the premium price for output from deep-sea fields in which they plan to invest 40,000 crore.

- ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp, has been shortlisted alongside global giants like Chevron, Shell and Total to bid in Mexico's latest round of oil and gas field auction. Mexico is offering 15 shallow-water exploration blocks in the second round of hydrocarbon auction, called round 2.1. These blocks cover a combined area of 8,908 sq km and hold prospective resources of 4 billion barrels of oil and oil equivalent gas. Steel

- Tata Steel's Noamundi iron mine has bagged the 'Most Innovative Environmental Project Award' in Biodivesity category under the theme of "GREEN makes business sense", at the 6th GreenCO Summit organised by Confederation of Indian Industries (CII) in Pune.

- Jindal Steel and Power Limited has secured coal linkages of over 0.51 tonnes per annum in the recently concluded coal linkage auctions under captive power sub-sector, an official statement said. The coal linkages, secured for a 5-year duration, will provide steady supply of fuel to captive power plants run by the company for its steelmaking operations.


- Larsen and Toubro's (L&T) arm has won contracts worth 2,231 crore across various business segments. It has bagged 1,324-crore turnkey order from the Andhra Pradesh Township Infrastructure Development Corporation for construction of residential buildings in the West Godavari district of the state.The project is part of the Pradhan Mantri Awaas Yojana Scheme and consists of residential tenements for the economically weaker sections.

- SPML Infra has received new orders of 642 crore for irrigation projects, water supply scheme and power infrastructure development in various states. The company has received new orders for water supply and irrigation projects in Gujarat, Madhya Pradesh and Jharkhand and power infrastructure development in West Bengal.


- Glenmark Pharmaceuticals has entered into a licensing agreement with Boston-based APC Therapeutics Inc for development of a potential cancer treatment drug.Under the terms of the agreement, Glenmark will license the product from APC Therapeutics and manage all clinical development, including regulatory filings and commercialisation worldwide.

- AstraZeneca Pharma has received marketing authorisation from the Drug Controller General of India (DCGI) for Symbicort, a medicine used for treatment of asthma. It is a fixed-dose combination drug comprising budesonide and formoterol fumarate dehydrate delivered through a special device.

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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 accept any liability whatsoever arising from the use of any of the above contents.