HDFC Bank will be watched after Q2 results

Net profit of HDFC Bank rose 20.59% to Rs 5005.73 crore on 21.2% rise in total income to Rs 28215.15 crore in Q2 September 2018 over Q2 September 2017. The result was announced on Saturday, 20 October 2018.

Asian Paints will announce its September quarterly result today, 22 October 2018.

Drug major Lupin's specialty pharma division, Lupin Neurosciences, announced that the Committee for Medicinal Products for Human Use (CHMP), the scientific committee of the European Medicines Agency (EMA), has adopted a positive opinion recommending the marketing authorization of NaMuscla (mexiletine hydrochloride) for the symptomatic treatment of myotonia in adults with non-dystrophic myotonic (NDM) disorders. The announcement was made after market hours on Friday, 19 October 2018.

Biocon and Mylan N.V. announced that the European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP) has issued a positive opinion recommending approval of Ogivri, a biosimilar to Roche's Herceptin (trastuzumab). The CHMP positive opinion will now be considered by the European Commission. The decision on approval is expected by the end of 2018. Ogivri is indicated for treatment of patients with HER2 positive early breast cancer (EBC), metastatic breast cancer (MBC) and metastatic gastric cancer (MGC). Under supervision of the relevant healthcare professional it can be prescribed as either monotherapy or in combination with other medicines dependent on the relevant diagnosis. The announcement was made after market hours on Friday, 19 October 2018.

Reliance Power said that its wholly owned subsidiary, Sasan Power, has won an arbitration award against North American Coal Corporation (NACC). NACC's claim of ~US$32 million (~Rs 235 crore) consisting of liquidated damages, interest and legal cost has been dismissed. This is a major milestone in this arbitration with the award received on 18 October 2018 from International Court of Arbitration, International Chamber of Commerce. Pursuant to the said award, Sasan Power is required to pay only, as per the contract, outstanding invoices of ~US$2.3 million to NACC (~Rs 17 crore). The announcement was made after market hours on Friday, 19 October 2018.

Jet Airways (India) will be watched. With reference to news titled, "Tata Group in talks to buy majority stake in debt-laden Jet Airways: Report", Jet Airways (India) clarified after market hours on Friday, 19 October 2018, that the news is speculative in nature and that there is no discussion or decision in the board which would require a disclosure.

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