DRL in focus after submitting response to USFDA

Dr Reddy's Laboratories (DRL) announced after market hours yesterday, 8 December 2015 that it has submitted its response to the United States Food and Drug Administration (USFDA) on 7 December 2015. It may be recalled that the USFDA in its warning letter issued to the company dated 5 November 2015, identified significant deviations from current good manufacturing practice (CGMP) at DRL's two pharmaceutical manufacturing facilities in Andhra Pradesh and a unit in Telangana.

Indian Terrain Fashions announced that it has fixed 22 December 2015 as the record date for 5 for 1 stock split. The company made the announcement after market hours yesterday, 8 December 2015.

Kaya said that Kaya Middle East, DMCC, a foreign subsidiary of Kaya, along with its local partner has entered into a Share Purchase Agreement on 7 December 2015 for acquiring 75% beneficial interest in Iris Medical Centre LLC situated at Abu Dhabi. Iris Medical Centre LLC carries out business of skincare services and operates one clinic in Abu Dhabi. It has reported revenue of AED 2.24 million as per its last financial statement for half year ended on 30 September 2015. The company made the announcement after market hours yesterday, 8 December 2015.

Orchid Chemicals & Pharmaceuticals announced that it has recommenced production operations at its bulk drugs plant located at Alathur, Tamil Nadu in a phased manner. The company made the announcement after market hours yesterday, 8 December 2015. The production operations of the plant were disrupted from 2 December 2015, due to flooding at the factory premises caused by heavy rains in Chennai.

However, the Sterile Manufacturing Section would need to be verified for sterility and this would take a few more days for becoming fully operational. The natural calamity is adequately covered under the insurance policy of the company.

Binani Industries turns ex-dividend today, 9 December 2015, for dividend of Rs 3 per share for the year ended 31 March 2015 (FY 2015).

Vipul announced that it has launched first phase of its 19.25 acres flagship residential project 'AAROHAN' on Golf Course Road, Sector 53, Gurgaon. The company made the announcement after market hours yesterday, 8 December 2015. 'AAROHAN' constitutes three iconic towers with four apartments on each floor in each tower in the first phase. The total estimated area shall be 0.9 million square feet of premium residential space in the first phase.

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