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SMC's weekly sector updates - IndiaNotes.com
SMC's weekly sector updates
SMC | Published: 04 Jul, 2017  | Source : IndiaNotes.com

Steel


- JSW Steel to set up a Slurry Pipeline to transport iron ore from coastal Karnataka to the Vijayanagar works at an investment of `2,100 crore.


Engineering


- BHEL has entered into an agreement with Kawasaki Heavy Industries Ltd, Japan, to produce stainless steel coaches and bogies for metro rail. The agreement covers establishing state-of-the-art design, engineering and manufacturing facilities at BHEL, India, using Japanese technology.


- Bharat Heavy Electricals Ltd has secured an order for setting up a 15 MW solar photovoltaic power plant on EPC basis in Gujarat. Gujarat Alkalies and Chemical Limited placed the order for setting up plant at Gujarat Solar Park in Charanka. This will be BHEL's first ground-mounted Solar PV project in Gujarat.


Power/Oil &Gas


- Oil and Natural Gas has scrapped the initial agreements it signed with oilfield services providers Schlumberger and Halliburton to raise output from its ageing fields, and has decided to go for competitive bids.


- Coal India subsidiary has stopped supplies to independent power producers, acting on the government's direction to divert stocks to generation companies catering to an unforeseen rise in electricity demand. The decision has triggered protests among the affected buyers who allege they're being discriminated against.


Pharmaceutical


- Glenmark Pharmaceuticals has been granted final approval by the US Food & Drug Administration (FDA) for Indomethacin extended-release capsule (75 mg), the generic version of Indocin SR capsule of Iroko Pharmaceuticals LLC. Indomethacin is a non-steroidal anti-inflammatory drug commonly used as a prescription medication to reduce fever, pain, stiffness, and swelling from inflammation.


- Natco Pharma Limited has received final approval from the US Food and Drug Administration (FDA) for azacitidine injection used in the treatment of cancer.


- Sun Pharmaceutical Industries Ltd and National Institute of Virology (NIV) has signed a pact to test new medicines developed by the company to combat zika, chikungunya and dengue diseases. Under the agreement, Sun Pharma will provide drug molecules to NIV for testing against zika, chikungunya and dengue in model systems.


Automobile


- Hinduja group flagship Ashok Leyland is looking at expansion of its commercial vehicle business with plans to introduce a slew of products. The company said that commercial vehicle makers are under profitability pressure due to increasing competition and cost of meeting stronger emission standards.


- India's largest carmaker and component manufacturer are growing faster than their own predictions, with both expected to cross their 2020 targets as much as a year sooner. Maruti Suzuki is likely to hit its production target of 2 million vehicles on an annualised basis at least two quarters into fiscal 2019, powered by demand for new models, almost all of which have become best sellers in their respective categories. At Motherson Sumi which has an $18 billion revenue target, acquisitions have accelerated growth. The parts maker had orders worth nearly 13 billion euros ($14.5 billion) at the end of March, and is quickly adding customer and its commissioning plants.


Hospitality


- Apollo Hospitals has launched a round-the-clock dedicated Air Ambulance Service Network to bring in patients in emergency from various parts of the country, especially from the smaller cities and towns to the major cities. The company has entered into partnership with Bengaluru-based Air Aviators Rescue, which currently offers air ambulance service on subscription basis.

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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.