Diberdayakan oleh Blogger.

Popular Posts Today

Union Bank of India raised USD 350 million from bonds

Written By komp limpulima on Rabu, 23 April 2014 | 23.25

The 5.5 years bonds were priced at a spread of 280 basis points and was oversubcribed 3.4 times with demand from 150 investors, Union Bank of India said in a statement.

State-owned  Union Bank of India today said it has raised USD 350 million (Rs 2,100 crore) through bonds from overseas market to fund its expansion plan.

The 5.5 years bonds were priced at a spread of 280 basis points and was oversubcribed 3.4 times with demand from 150 investors, Union Bank of India said in a statement.

Geographically, 65 percent of the bonds were allocated to Asia, 32 percent to Europe and the remaining 3 percent to offshore US.

This is part of USD 2 billion Medium Term Note Programme, it added.

Also read: PSU banks may get additional capital infusion of Rs 7000 cr 

Union Bank stock price

On April 23, 2014, Union Bank of India closed at Rs 149.15, down Rs 1.05, or 0.7 percent. The 52-week high of the share was Rs 255.00 and the 52-week low was Rs 97.10.


The company's trailing 12-month (TTM) EPS was at Rs 30.25 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 4.93. The latest book value of the company is Rs 273.18 per share. At current value, the price-to-book value of the company is 0.55.


23.25 | 0 komentar | Read More

Bhushan Steel gets nod to run new blast furnace in Odisha

The state PCB in last November had directed closure of the blast furnace till further order, following an explosion that happened in the slag pit during the fourth day of trial run on November 10.

Bhushan Steel  today said it has got the green signal to start a blast furnace in Meramandali plant from the Odisha Pollution Control Board (PCB) which had directed its closure following an accident during trial run.

"The company has now received all consents and approvals from the State Pollution Control Board, Odisha, for starting and operating the blast furnace No 2 installed at its steel plant," Bhushan Steel said in a BSE filing.

The state PCB in last November had directed closure of the blast furnace till further order, following an explosion that happened in the slag pit during the fourth day of trial run on November 10.

The accident at the plant caused deaths and injuries. "The company has started the process of operation of blast furnace No 2 and the production from the furnace is expected to start in few weeks," Bhushan Steel said.

Bhushan stock price

On April 23, 2014, Bhushan Steel closed at Rs 446.75, up Rs 0.25, or 0.06 percent. The 52-week high of the share was Rs 504.00 and the 52-week low was Rs 437.30.


The company's trailing 12-month (TTM) EPS was at Rs 15.97 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 27.97. The latest book value of the company is Rs 395.02 per share. At current value, the price-to-book value of the company is 1.13.


23.25 | 0 komentar | Read More

Yoshindo JV to focus on biosimilar drugs in Japan: Lupin

Drug major  Lupin has entered into a joint venture agreement with Japanese pharma company Yoshindo Inc to create new entity YL Biologics (YLB). This joint venture will focus on biosimilar development and commercialisation for Japan. CNBC-TV18's Archana Shukla spoke to KK Sharma, VC, Lupin to get the details of the JV.

Below are excerpts from the interview:

Q: Will it in-licence products from Lupin's biosimilar pipeline or is the JV open to sourcing from other companies as well?

A: It can have both. Predominantly, it will be Lupin products but the joint venture will be open to consider other products from other originators as well.

Q: Which products would be from Lupin's portfolio?

A: At the moment, we are starting with one product that is Enbrel and there would be couple of more products but it will be a little premature to talk about those products because there is a pipeline which we don't want to discuss at the moment. However, this is a very laudable experiment because taking a biosimilar to advance market is for the first time, out of India.

Although, I also know that Lupin was relatively much late into the game because we started only in 2007 and the game has been in the country since 1992. In that sense, it is a very proud moment for the company to have built the technology.

We have about eight proteins in our pipeline today of which five are monoclonal antibody bodies. Post 2016, there is a floodgate of these products opening up and I have often spoken about the new specialty character that we are trying to bring into Lupin which starts with technology intensity, capital intensity, regulatory intensity and so forth. So, this is one of the manifestations of that specialty character.

Q: What kind of investments would we look from Lupin as well as your joint venture partner into this? How could the marketing pan out once the products are into the market? What is the timeline that you are seeing for these products to hit the market?

A: I can only talk a bit of general things here. The clinical development cost could be anywhere in the range of USD 35-50 million. We would share that equally. The joint venture is going to in-licence the product from Lupin. Though I cannot share with you but there will be upfront payment and there will be kind of milestone payments for that.

Once the development is done the clinical data would be submitted to the Pharmaceuticals and Medical Devices Agency (PMDA) in Japan. We have already had interviews with the regulators and we have arrived at a particular protocol for clinical work.

Japan has the best track record in the world for approving products and therefore, we hope that in two-and-a-half years to a maximum of three years we should see this product getting a marketing authorisation from the regulators. The deal is that we would share the file between Yoshindo and Lupin.

If we want to bring in another partner, that will be joint venture addition, not addition of anyone of us. However, it would be best if we both own the files and market ourselves. We would be marketing different brands of the same product.

Lupin stock price

On April 23, 2014, Lupin closed at Rs 987.25, up Rs 5.10, or 0.52 percent. The 52-week high of the share was Rs 1012.00 and the 52-week low was Rs 679.35.


The company's trailing 12-month (TTM) EPS was at Rs 42.06 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 23.47. The latest book value of the company is Rs 108.10 per share. At current value, the price-to-book value of the company is 9.13.


23.25 | 0 komentar | Read More

RIL raises USD 550 m from Japanese banks

The 12-year loan will part finance the proposed expansion of RIL's petrochemical plants and setting up of new gasification unit and refinery off-gas cracker over the next 2-3 years.

Reliance Industries  Ltd (RIL) Wednesday said it has raised USD 550 million loan for part-funding expansion of its petrochemical plant and new gasification unit from Japanese banks.

"In continuation of the fund raising programme initiated in 2012-13, RIL has tied up Export Credit Agency (ECA) facility of up to USD 550 million co-financed by JBIC (Japan International Bank for Cooperation) and a group of other Japanese banks backed by NEXI," the company said in a statement.

Also Read: Honey-trapped by govt over KG-D6: RIL to SC

The 12-year loan will part finance the proposed expansion of RIL's petrochemical plants and setting up of new gasification unit and refinery off-gas cracker over the next 2-3 years.

"This is RIL's eighth ECA facility for the largest capital expenditure programme it has undertaken," it said.

This is the first time that JBIC is extending credit to RIL.

JBIC will provide direct financing of up to USD 330 million and Japanese banks, supported by a 95 percent Nippon Export and Investment Insurance (NEXI) insurance cover, will finance up to USD 220 million.

The participating banks include The Bank of Tokyo-Mitsubishi, Sumitomo Mitsui Banking Corporation, Mizuho Bank, and three regional Japanese banks namely The Gunma Bank, The Hachijuni Bank, and The Chiba Bank.

The facility will have a door-to-door tenor of twelve years and will be used to finance contracts for imports of goods and services signed with more than 20 Japanese suppliers.

Reliance stock price

On April 23, 2014, Reliance Industries closed at Rs 966.85, down Rs 1.5, or 0.15 percent. The 52-week high of the share was Rs 988.90 and the 52-week low was Rs 765.00.


The company's trailing 12-month (TTM) EPS was at Rs 68.01 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 14.22. The latest book value of the company is Rs 556.88 per share. At current value, the price-to-book value of the company is 1.74.


23.25 | 0 komentar | Read More

Infosys presents Innovating for a Better Tomorrow

Subject of discussion this time is frugal innovation which is low cost technologies creating the greatest possible good for a large number of people but also not sacrificing on quality.

Subject of discussion this time is frugal innovation which is low cost technologies creating the greatest possible good for a large number of people but also not sacrificing on quality.


23.25 | 0 komentar | Read More

RBI panel moots centralised bill payment system

The RBI has sought comments on the Report of the GIRO Advisory Group till May 25.

An RBI panel today made a case for centralised bill payment system catering to different financial instruments, like cheques, debit cards and mobile banking.

"In order to ensure uniform and efficient implementation of operations of the bill payments system in the country, standards have to be set for process standards, business standards for establishing the relationship between all entities, and information exchange standards for transactions as well as settlements," it said.

The RBI has sought comments on the Report of the GIRO Advisory Group till May 25.

This centralised bill payments system, it said will provide accessible services across all parts of the country through a strong network of operational units/agents who will ensure in making this service accessible in urban as well as rural areas.

The report further said the standard setting role/function has to be distinct from the operational aspects of the bill payments system.

"It is, therefore, recommended that the bill payments system follow a 'tiered structure' - the standard setting functions being carried out by a central body / agency (to be named as Bharat Bill Payment System - BBPS) with actual operations being carried out by multiple entities," it added.

Currently, the payment system in the country offers a variety of payment instruments to the public, like cheques and various e-payment modes in the form of credit cards, debit cards, pre-paid payment instruments (including mobile wallets) issued by both banks and authorized non-bank entities.

In the context of bill payments, the payment delivery channels available to customers and consumers include bank branches, business correspondents, ATMs, mobile banking, internet banking, among others.


23.25 | 0 komentar | Read More

Bajaj Allianz grows 16% in Bengal, surgical policy unveiled

Written By komp limpulima on Selasa, 22 April 2014 | 23.25

The policy assures a guaranteed benefit sum depending on the surgical treatment that is graded based on the costs and covers almost 600 surgeries.

Private general insurer Bajaj Allianz today said the Kolkata region has grown 16 percent in 2013-14 with a total premium of Rs 290 crore and hopes to do better this fiscal with new products being rolled out.

"This region has grown 16 percent in 2013-14 with total premium of Rs 290 crore. We hope to grow by 20 percent this fiscal fuelled by new products," company regional manager Debojit Roy said today while unveiling Surgical Protection plan.

The policy, a first of its first was conceived when it was found that calims after surgery account for nearly 54 percent of the total claims and also surgically managed cases cost 83 percent more over the medically managed cases. Roy said the product is cheaper compared to tradional health cover policies by 35-40 percent.

Also read:  Bajaj Allianz Life pays claims worth Rs 651 crore in FY14

The policy assures a guaranteed benefit sum depending on the surgical treatment that is graded based on the costs and covers almost 600 surgeries.

It offers 11 plans with sum insured ranging from Rs one lakh to Rs 10 lakh. The policy also offers add-on covers like hospital cash, critical illness and personal accident cover.

It grades surgeries on a scale of one to five based on the varying cost involved for the treatment and benefit is given based on grades.


23.25 | 0 komentar | Read More

Micromax starts manufacturing smartphones in India

The spokesperson said Micromax is producing all the tablets that are being sold in India at this facility but mobile phone production is at initial stage.

The country's second largest mobile devices company Micromax has now started manufacturing handsets at its Rudraprayag facility in Uttarakhand.

"Micromax has manufacturing plant in Rudraprayag where it manufactures LED and tablets. The company started manufacturing mobile phones couple of months back," a Micromax spokesperson told PTI.
     
The spokesperson added Micromax is producing all the tablets that are being sold in India at this facility but mobile phone production is at initial stage. As per the industry data, Micromax is the second largest players in both mobile phone and tablet PC market in India.

Also read: Micromax eyes stake in Korea's Pantech

The company had 13 percent market share in total mobile phone segment and 16 percent in smartphone market in last quarter of 2013 as per market research firm IDC. Micromax had 8.9 percent market share in Indian tablet PC segment which stood at 4.14 million units in calendar year 2013.

The company targets to almost double its revenue to USD 1 billion (over Rs 6,000 crore) by end of financial year 2013-14 from revenue of Rs 3,168 crore in FY 12-13. Micromax did not comment on latest revenue figure.


23.25 | 0 komentar | Read More

GSK-Novartis global deal won’t impact India business: GSKCH

As part of the three-way transaction announced today, the Swiss firm will buy GSK's cancer drugs portfolio for USD 16 billion and sell its vaccines business in return for USD 7.1 billion.

GlaxoSmithKline Consumer Healthcare  today said the multi-billion dollar global deal between parent GlaxoSmithKline Plc and Swiss drug major Novartis  won't affect its business in India.

The two companies agreed to form a joint venture by combining Novartis' over-the-counter division with GSK's consumer business to create a business with USD 10 billion in annual sales. GSK will hold a 63.5 percent stake in the venture.

"This consumer healthcare joint venture will exclude GlaxoSmithKline Consumer Healthcare Ltd India, where GSK plc will continue to hold directly its interests in the listed entity," GlaxoSmithKline Consumer Healthcare (GSKCH) said in a filing to the BSE.

As part of the three-way transaction announced today, the Swiss firm will buy GSK's cancer drugs portfolio for USD 16 billion and sell its vaccines business in return for USD 7.1 billion.

Also read:  Novartis transforms drug biz via deals with GSK and Lilly

Novartis, based in Basel, will acquire GSK's oncology products for a USD 14.5 billion payment and up to USD 1.5 billion contingent on a development milestone. Novartis would have opt-in rights to GSK's current and future oncology R&D pipeline.

Novartis will divest its vaccines business, excluding flu, for USD 7.1 billion plus royalties. The upfront payment is USD 5.25 billion and up to USD 1.8 billion is in milestones.

Earlier this year, GSK increased its stake in the Indian arm, GlaxoSmithKline Consumer Healthcare, to 75 percent following the completion of a Rs 6,400 crore open offer. GlaxoSmithKline Consumer Healthcare shares closed at Rs 4,368 on the BSE, up 0.06 percent.

GlaxoSmith Con stock price

On April 22, 2014, GlaxoSmithKline Consumer Healthcare closed at Rs 4357.60, down Rs 7.8, or 0.18 percent. The 52-week high of the share was Rs 6020.00 and the 52-week low was Rs 3645.00.


The company's trailing 12-month (TTM) EPS was at Rs 119.62 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 36.43. The latest book value of the company is Rs 443.23 per share. At current value, the price-to-book value of the company is 9.83.


23.25 | 0 komentar | Read More

RBI panel suggests FRA to deal with failing institutions

The report on 'Resolution Regime for Financial Institutions' underlined the need for a policy framework to deal with the failure of such entities in a manner that avoids disruption of critical financial services.

An RBI working group has recommended setting up a Financial Resolution Authority (FRA) to effectively deal with failing financial institutions and ensure overall stability in the system.

"There should be a single FRA mandated under the law for resolving all financial institutions and FMIs (Financial Market Infrastructure), in coordination/cooperation with the respective financial sector regulators, as deemed necessary by the FRA...(it) should be institutionally independent of the regulators/supervisors and the government," said the RBI report.

The report on 'Resolution Regime for Financial Institutions' underlined the need for a policy framework to deal with the failure of such entities in a manner that avoids disruption of critical financial services.

The central bank constituted the working group in January 2013 under the chairmanship of then RBI Deputy Governor Anand Sinha, with Economic Affairs Secretary Arvind Mayaram as co-chairperson.

The group recommended that the FRA can be set up by either converting the Deposit Insurance and Credit Guarantee Corporation (DICGC) or creating a new entity that will subsume the DICGC.

"The mandate of FRA will be to resolve failed financial institutions and FMIs (other than those owned and operated by RBI) along with providing deposit insurance and protection to insurance policy holders and investors/clients within limits, if required at the resolution stage," the report said.

It said with a view to detect problems at an early stage and have suitable redressal and revival mechanisms, the RBI may devise an effective methodology for early intervention and structured actions in line with the recommended stages.

The group recommends that the FRA should have a variety of resolution tools mandated by the proposed statute to carry out orderly resolution of failing financial institutions and FMIs without taxpayers' support.

The group suggested that the government may, on recommendation by the Financial Stability Development Council, be empowered to place a financial institution under temporary public ownership.

"There should be intensive consultation with the concerned regulator and the FRA before placing the institution under temporary public ownership," it said.


23.25 | 0 komentar | Read More
Techie Blogger