Sun Pharma in focus after FDA nod for psoriasis drug

Sun Pharmaceutical Industries (Sun Pharma) announced that the United States Food and Drug Administration (FDA) has approved ILUMYA (tildrakizumab-asmn) for the treatment of adults with moderate-to-severe plaque psoriasis who are candidates for systemic therapy or phototherapy. The announcement was made after market hours yesterday, 21 March 2018.

Majesco announced that an India health insurer, part of a leading diversified financial services group in India, implemented Majesco Distribution Management (MDM) as the foundation of their distribution transformation. MDM is a standalone, modern solution that enables insurance carriers to manage the entire distribution landscape with comprehensive business capabilities. The announcement was made after market hours yesterday, 21 March 2018.

Axis Bank issued a clarification after market hours yesterday, 21 March 2018 to media reports referring to a bank guarantee issued by the bank to certain telecom companies. Axis Bank said that the bank guarantee has been issued by the bank on behalf of Bharti Airtel. Telecom Disputes Settlement and Appellate Tribunal (TDSAT), vide its order dated 9 January 2018 has required the bank guarantee to be returned. Axis Bank has been informed that the TDSAT order is operative. The bank is seeking clarification from TDSAT on the matter, and will comply with all directions.

Axis Bank clarified that the bank has non-fund based exposure of Rs 9222 crore to the telecom sector as of 31 December 2017, of which approximately 97% is to clients rated AA or better. The bank also informed that it has no exposure to Aircel.

Dilip Buildcon has been declared L-1 bidder by the National Highways Authority of India for a new EPC project valued at Rs 677.07 crore in Uttar Pradesh. The announcement was made after market hours yesterday, 21 March 2018.

Shriram Transport Finance Company said that its allotment committee allotted 1,850 non-convertible debentures (NCDs) aggregating to Rs 185 crore on private placement basis. The announcement was made after market hours yesterday, 21 March 2018.

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