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Weekly News: The IMF had left the India's growth projections unchanged - IndiaNotes.com
Weekly News: The IMF had left the India's growth projections unchanged
SMC | Published: 31 Jul, 2017  | Source : IndiaNotes.com

Economy


- The International Monetary Fund had left the India's growth projections unchanged. India's 2017 growth is seen at 7.2 percent, before accelerating to 7.7 percent in 2018.


Metals


- Hindustan Copper Limited (HCL) has signed a Memorandum of Understanding (MoU) with Mishra Dhatu Nigam Limited (MIDHANI), a central public sector enterprise under the Ministry of Defence for a joint collaboration in the production of Copper-Nickel tubes and related items.


Pharmaceutical


- Dr Reddy's and biopharma company CHD Bioscience announced a global licensing agreement for the clinical development and commercialisation of Dr Reddy's phase III clinical trial candidate, DFA-02.


- Cipla in partnership with Medicines for Malaria Venture(MMV) launched a drug used for the treatment of severe malaria in young children. The company introduced 100 mg Artesunate Rectocaps/Rectal Artesunate Suppositories (RAS), a life-saving, pre-referral intervention for the management of malaria in children.


- Zydus Cadila has received final approval from US health regulator for generic Mesalamine delayed-release tablets used for treatment of ulcerative colitis.


- Glenmark Pharmaceuticals has received final approval from the US health regulator for generic version of Desonide cream, used to treat a variety of skin conditions.


- Lupin Ltd has received final approval from the US Food and Drug Administration (US FDA) to market a generic version of County Line Pharmaceuticals, LLC's Fluocinonide Topical Solution. The solution is used to relieve skin conditions like inflammation or itching that respond to the corticosteroid class of steroids.


- Strides Shasun has received approval from the US Food and Drug Administration for cetirizine hydrochloride capsules, used to relieve allergy symptoms.


Automobile


- Tata Motors announced the launch of a range of commercial vehicles in the Philippines to expand presence in the South East Asian nation.


- Mahindra & Mahindra (M&M) is in race for a $6 billion order from the US government for postal delivery vehicles, and will submit over a dozen prototypes for road-testing between September and November this year as the process enters its final round.


- Maruti Suzuki India (MSI) opened its first service centre under premium retail chain Nexa and plans to have around 300 such outlets in the country by 2020.


Miscellaneous


- Axis Bank has acquired digital payments company FreeCharge for `385 crore. The bank will get FreeCharge's 50 million wallet users and 0.2 million merchant base, helping it to scale up its presence in the digital payments space.


- Nirma has emerged as a key contender for Tronox Alkali in Green River, Wyoming, the fourth largest producer of soda ash in the world, for $1.5-2 billion

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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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