RITES may rise on bagging additional contract from Indian Railways

RITES said it received additional turnkey contract work worth Rs 436 crore from the Indian Railways. This contract is in addition to existing project for setting up of a wagon workshop at Dalmianagar for which the initial contract cost was worth Rs 89 crore. The announcement was made after market hours yesterday, 18 September 2018.

KIOCL said its board approved buyback of 1.25 crore shares (1.98% of paid up capital) at Rs 170 per share for an aggregate consideration of Rs 214 crore. The record date for the buyback is 1 October 2018. The announcement was made after market hours yesterday, 18 September 2018.

Sun Pharmaceutical Industries announced that Almirall has received the European Commission (EC) approval for Ilumetri (tildrakizumab) for the treatment of adults with moderate-to-severe chronic plaque psoriasis who are candidates for systemic therapy. As indicated by Almirall, roll out of Ilumetri in Europe will start in the next few weeks. In July 2016, Sun Pharma out-licensed tildrakizumab to Almirall, for the development and commercialization of the product for psoriasis in Europe. The announcement was made after market hours yesterday, 18 September 2018.

ICICI Prudential Life Insurance Company, one of the largest private sector life insurance company in India, and Saraswat Co-operative Bank (Saraswat Bank), a century old and India's largest urban co-operative bank, have come together to offer life insurance products ranging from protection to wealth creation. Through this partnership, over 280 Saraswat Bank branches in Maharashtra, Goa, Gujarat, Delhi, Madhya Pradesh and Karnataka will offer the entire range of protection and savings products of ICICI Prudential Life. The announcement was made after market hours yesterday, 18 September 2018.

ICICI Bank clarified after market hours yesterday, 18 September 2018, that it has not filed any application for settlement but only a response to the show-cause notice has been submitted to Securities and Exchange Board of India (Sebi). The clarification was issued after Sebi chairman reportedly stated that ICICI Bank filed a consent petition with Sebi.

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