Dr Reddy's Labs in focus after plant clears USFDA audit

Dr Reddy's Laboratories announced that the audit of its formulations Srikakulum plant (SEZ) Unit II, Andhra Pradesh by the US Food and Drug Administration (USFDA), completed on 16 November 2018 with zero observations. The announcement was made after market hours on Friday, 16 November 2018.

Tata Investment Corporation announced that its board approved a proposal to buyback upto 45 lakh equity shares of the company for an aggregate amount not exceeding Rs 450 crore, being 8.17% of the total paid-up equity share capital, at Rs 1,000 per share. The announcement was made after market hours on Friday, 16 November 2018.

Power Grid Corporation of India said that its board approved increasing shareholding limit of foreign portfolio investors (FPIs) from 30% to 35% of paid up equity share capital of the company. The current FPIs/FIIs holding in Power Grid is about 24%. The announcement was made after market hours on Friday, 16 November 2018.

Infosys announced that it has completed the formation of a joint venture with Temasek, the global investment company headquartered in Singapore. Through this joint venture, Infosys will be a partner to Temasek in its digital transformation journey and further strengthen its footprint in South East Asia. The joint venture will provide Temasek and its other clients with solutions in advanced technologies including cloud, data and analytics, cybersecurity, digital experiences and AI. Additionally, employees of this joint venture will be able to access Infosys' world class education and training capabilities, to advance their technological skills. The announcement was made after market hours on Friday, 16 November 2018.

SRF announced that the unit in Viralimalai, Tamil Nadu of the technical textiles business (engaged in manufacture of belting fabrics) of the company has been damaged by Cyclone Gaja. The company said it has adequate insurance cover for the said unit. Adequate steps are being taken to restore normalcy and further updates in this regard will be communicated in due course. The announcement was made after market hours on Friday, 16 November 2018.

Deepak Nitrite will be in focus. With reference to news item captioned, 'IT department raids on Vadodara based Deepak Nitrite Limited', the company clarified after market hours on Friday, 16 November 2018, that there has been search operations carried on by the income tax department at the company premise. The company shall inform the stock exchange about all events, information which are required to be disclosed.

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