Thursday, 28 July 2011

STOCK MARKET UPDATES FOR 28 JULY 2011

Dr. REDDY ANNOUNCED THE LAUNCH OF GEMCITABINE FOR INJECTION…..

Dr. Reddy's Laboratories announced today that it has launched Gemcitabine for Injection (200 mg/vial and 1 g/vial), a bioequivalent generic version of Gemzar in the US market on July 25, 2011, following the approval by the United States Food & Drug Administration (USFDA) of Dr. Reddy's ANDA for Gemcitabine for injection.
The Gemzar brand had U.S. sales of approximately $ 634 million for the most recent twelve months ending May 31, 2011.



IOC RAISED $500mn VIA BOND ISSUE………….

Indian Oil Corporation (IOC) has reportedly raised USD500 mn via dollar bond issue. The issue was oversubscribed nearly four times.
The deal was finalized through the book building route for which IOC received an overwhelming response from investors across the globe. According to reports, about 71% of investor contribution originated from Asia while investors from Europe and the US contributed 25% and 4% respectively. The bonds will have tenure of 10 years.



NOKIA GROWTH PARTENER BECOMES SHAREHOLDER IN NETWORK 18…..

Network18 Media and Investments Ltd. announce the continuation of its relationship with Nokia Growth Partners (NGP), with NGP swapping its holding in Web18 for Network18 shares.



AIRTEL LAUNCHES 3G SERVICES IN KERALA…….

Bharti Airtel, leading global telecommunications company with operations in 19 countries across Asia and Africa, today announced the availability of its 3G services in Kerala. Delivering a world-class 3G experience to customers in Kerala. Airtel 3G services are now available across key cities including Kochi, Trivandrum and Calicut in the first phase of rollout – and will subsequently be rolled out in other major parts of the state. 



SEBI BOARD MEETING TODAY… NSDL AND TAKEOVER CODE ON AGENDA…..

Securities and Exchange Board of India (SEBI) in its board meeting today, is likely to decide on the much awaited takeover code of listed companies.
According to reports, SEBI in its meeting may also reopen a probe against National Securities Depository (NSDL) in the IPO scam between 2003 and 2005.
Reports stated that, other key issues like eligibility criteria for IPOs and electronic reporting on a Sebi unified platform are also on the agenda of the meeting that would be held in Mumbai.



THE PAN INDIA OPERATORS HIKED PRE-PAID TARIFFS IN CERTAIN CIRCLES….

Vodafone Essar and Idea Cellular have reportedly increased pre-paid tariffs by up to 20%, days after the recent Bharti Airtel move. 
Bharti Airtel had last week raised rates for pre-paid users by 20% in certain circles citing declining margins and high 3G and BWA auction prices as reasons for the hike.

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