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Weekly News: The government's capital expenditure will rise by 25%, with defence outlay jumping 22% - IndiaNotes.com
Weekly News: The government's capital expenditure will rise by 25%, with defence outlay jumping 22%
SMC | Published: 14 Aug, 2017  | Source : IndiaNotes.com

Economy


- According to the Mid-Year Review, the government's capital expenditure will rise by 25% to `3.9 lakh crore by 2019-20, with defence outlay alone jumping 22%.


Construction


- Punj Lloyd has won an EPC Railway Contract worth 478 crore for 108.75 km of doubling work between Phulera – Degana in Rajasthan awarded by North Western Railway.


Pharmaceuticals


- Dr Reddys Laboratories announced that its wholly owned subsidiary, betapharm Arzneimittel GmbH, Germany received a communication from the Regulatory Authority of Germany (Regierung von Oberbayern) last night, that the GMP compliance certificate in respect of the Company's Formulations Manufacturing Unit 2 plant in Bachupally, Hyderabad is not renewed consequent to the recent inspection of the plant.


- Zydus Cadila has received the US health regulator's nod to market Diltiazem Hydrochloride capsules, used to treat high blood pressure, angina (chest pain) and certain heart rhythm disorders, in the American market.


- Lupin has received approval from the US health regulator to market Pitavastatin tablets used for lowering cholesterol.


Chemicals


- Tata Chemicals is aiming to clock 10,000-crore business in its soda ash segment and 5,000 crore in the pulses, spices and food category in the next five years.


- Phillips Carbon Black will be investing 300 crore to ramp up the capacity and was also evaluating a greenfield carbon black plant in South India.


FMCG


- Britannia Industries would set up its largest plant in Maharashtra in a food park at Ranjangaon. Company was also planning to set up a dairy project at the food park with a capacity of seven lakh litres per day.


Oil & Gas


- Indian Oil Corporation (IOC) plans to nearly double oil refining capacity to 150 mt by 2030 and source 10 per cent of the need from its own assets. India's largest oil firm possesses refining capacity to produce 80.7 million tonnes per annum of fuel.


- GAIL India is seeking to renegotiate price of the LNG it has contracted from the US -- following a similar one with Australia -- to reflect current market realities. GAIL, India's biggest gas transporter, has deals to buy 5.8 million tonnes of US LNG per annum for 20 years.


Automobile


- Ashok Leyland launches a digital marketplace with a potential of 1000  crore revenue in 3 to 5 years.


Metals


- Jindal Steel & Power is looking to refinance more debt in India as well as abroad by next month, Currently, the company's consolidated net debt stands at 45,500 crore, which includes 14,000 crore of overseas borrowing.

 

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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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