India largest drug maker Sun Pharma on Tuesday said it was informed by USFDA, that it will lift the import alert imposed on the Mohali manufacturing facility and remove the facility from the official action initiated (OAI) status."This proposed action will clear the path for Sun Pharma to supply approved products from the Mohali facility to the US market, subject to normal US FDA regulatory requirements," Sun Pharma said in a statement.The Mohali facility was inherited by Sun Pharma as part of its acquisition of Ranbaxy Laboratories in 2015.Close The USFDA had in 2013 ordered the Mohali facility to be fully subject to Ranbaxy's Consent Decree of Permanent Injunction. Certain conditions of the consent decree will continue to be applicable to the Mohali facility. related news Analysts see RBI pausing for long as inflation worries return CBDT floats draft notification with regard to renumeration of fund managers Canada Pension Plan Investment Board to invest up to $600 mn in … [Read more...] about USFDA lifts import ban on Sun Pharma’s Mohali plant, shares surge 5%
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The Indian rupee is trading flat at 71.51 per dollar ahead of Reserve Bank of India's (RBI) monetary policy outcome, with buying seen in the domestic equity market.It opened marginally higher at 71.48 per dollar on Thursday versus previous close 71.53, with .On December 4, the rupee ended 13 paise higher at 71.53 against US dollar on renewed hopes about US-China trade deal.Close The Indian unit went through bouts of volatility for a better part of the session as caution prevailed among participants ahead of Reserve Bank's policy meet outcome and also due to uncertainties around global trade deal. related news Indian rupee on slippery slope for a year at least: Poll Rupee firms up by 13 paise against USD Rupee trades lower at 71.75 per dollar The Sensex was up 103.36 points or 0.25% at 40953.65, and the Nifty was up 23.40 points or 0.19% at 12066.60.Also Read - Indian rupee on slippery slope for a year at least: PollThe dollar and export-oriented currencies found support … [Read more...] about Rupee trades flat ahead of RBI policy outcome
Tata Motors will unveil its much-anticipated premium hatchback today, the Altroz. It is slated for a launch in January 2020 and gets a host of premium features and upgrades from the Indian carmaker.Multiple spy shots and teasers of the car have given us an idea of its aesthetic appearance. It is built on the company’s Impact 2.0 design. It also gets front doors that can open to 90 degrees, along with a raked honeycomb mesh grille, sleek projector headlamps and 16-inch, 8-spoke alloy wheels.The interiors are equipped with a floating touchscreen infotainment display with phone app connectivity, ambient lighting, climate control, and a semi-digital instrument cluster. Tata is also expected to equip it with dual airbags, ABS with EBD, rear parking sensors with camera, and a high-speed alert along with driver and co-driver seatbelt warning.Close Mechanically, the Altroz is expected to be offered with BSI-compliant petrol and diesel engine options. It should get a 1.2-litre naturally … [Read more...] about Tata to launch Altroz today: How does it fare against rivals?
The Monetary Policy Committee (MPC) on December 5 unanimously decided to keep the repo rate unchanged at 5.15 percent in its sixth bi-monthly policy meeting while retaining an accommodative stance.Even though the D-Street was expecting a 25 bps rate cut at the bare minimum, experts say that RBI's decision to maintain the repo rate at 5.1 percent is "not a big deal.""It is a surprise. But, the RBI has already given 135bps repo rate cut, and one policy waiting is not a big deal. We will see another 60-70 bps rate cut in 2020 as inflation will cool off," Kaushik Das, Chief Economist - Deutsche Bank, told CNBC-TV18.Close A rate cut generally augurs well for companies that are debt-laden (as it reduces interest cost), banks as well as, non-banking financial companies (NBFCs) as it brings down the cost of funds. For the real estate sector, a fall in interest rates means lower EMIs. related news Bulls to remain on driver's seat till Nifty trades above 11,700 RBI Credit Policy | … [Read more...] about Experts say RBI may cut repo rate by 60-70 bps in 2020; 15 rate-sensitive stocks to bet on
Shares of Force Motors gained 4 percent intraday on December 5 after the company reported healthy growth in November sales.The Pune-based company sold 2,112 units in November 2019, higher by 41.8 percent YoY.In November 2018, it had sold 1,489 units.Close Domestic sales for the month stood at 1,936 units and exports at 176 units, which were significantly higher compared to 1,477 units sold in the same month last year and 12 units exported, respectively.Are you happy with your current monthly income? Do you know you can double it without working extra hours or asking for a raise? Rahul Shah, one of the India's leading expert on wealth building, has created a strategy which makes it possible... in just a short few years. You can know his secrets in his FREE video series airing between 12th to 17th December. You can reserve your free seat here. … [Read more...] about Force Motors share price jumps 4% after sharp rise in November sales