L&T in focus after bagging order

Engineering and construction major Larsen & Toubro (L&T) will be watched after winning an order. The heavy civil infrastructure business vertical of L&T Construction bagged a major order worth Rs 8650 crore from Mumbai Metropolitan Region Development Authority (MMRDA) for the construction of Mumbai Trans Harbour Link (MTHL), packages 01 and 03. The project involves construction of a 21.80 Km bridge connecting Mumbai mainland with Navi Mumbai. The project has been bagged against stiff competition from renowned international and domestic companies. The announcement was made on Saturday, 18 November 2017.

IndusInd Bank and Yes Bank will be included in the S&P BSE Sensex, while Cipla and Lupin will be excluded from the benchmark index. The changes are effective at the open of Monday, 18 December 2017.

IT major Infosys said its Rs 13000 crore buyback offer will open on 30 November 2017 and end on 14 December 2017. The offer will see the company buying back over 11.30 crore shares at Rs 1150 each. The announcement was made after market hours on Friday, 17 November 2017.

IT major Wipro said its Rs 11000 crore buyback offer will open on 29 November 2017 and end on 13 December 2017. The offer will see the company buying back over 34.37 crore shares at Rs 320 each. The announcement was made after market hours on Friday, 17 November 2017.

Strides Shasun and Eris Lifesciences will be watched. Strides Shasun and Eris Lifesciences announced entering into definitive agreements for sale of Strides' India branded generics business to Eris for an aggregate cash consideration of Rs 500 crore. The transaction is subject to customary closing conditions and parties intend to close the transaction by 30 November 2017. In terms of the agreement, Eris will acquire the marketing and distribution rights for the said portfolio of products in India while Strides will retain the global rights for these products. The announcement was made on Saturday, 18 November 2017.

Cadila Healthcare announced that it received the final approval from the US Food and Drug Administration (USFDA) to market Ethacrynate Sodium for Injection USP, 50 mg/vial. The drug is used to decrease the swelling (edema) caused by various disease conditions such as liver disease, kidney disease, congestive heart failure, cancer etc. and will be produced at the group's formulations manufacturing facility at Moraiya, Ahmedabad. The group now has more than 165 approvals and has so far filed over 300 Abbreviated New Drug Applications (ANDAs) since the commencement of the filing process in FY 2003-2004. The announcement was made on Saturday, 18 November 2017.

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