Tata Power in focus after turnaround in Q2 results

Tata Power Company reported consolidated net profit of Rs 336.24 crore in Q2 September 2016, compared with net loss of Rs 95.87 crore in Q2 September 2015. Total income declined 3.5% to Rs 7311.82 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 29 November 2016.

Lupin announced that its US subsidiary Lupin Pharmaceuticals Inc (LPI) has received final approval for its Armodafinil tablets 50mg, 150mg, 200mg and 250mg from the United States Food and Drug Administration (USFDA) to market a generic version of Cephalon, Inc's Nuvigil tablets. LPI shall commence promoting the product in the US shortly. Lupin's Armodafinil tablets are the AB rated generic equivalents of Cephalon, Inc's Nuvigil tablets. Armodafinil tablets are indicated to improve wakefulness in adult patients with excessive sleepiness associated with obstructive sleep apnea (OSA), narcolepsy or shift work disorder (SWD). Nuvigil tablets had annual US sales of $515.6 million as per IMS MAT September 2016 data. The announcement was made after market hours yesterday, 29 November 2016.

Oil India said that the board of directors of the company in a meeting held on 28 November 2016, accorded approval for voluntary winding up of its wholly owned subsidiary-Oil India International in accordance with the provisions of the applicable laws. The announcement was made after market hours yesterday, 29 November 2016.

JK Paper announced that credit rating agency, India Ratings and Research (IndRa), assigned JK Paper's Rs 5 crore term deposit programme rating at "IND A-". The outlook is positive. The announcement was made after market hours yesterday, 29 November 2016.

Welspun Enterprises said that National Highways Authority of India (NHAI) has with respect to the concession agreement entered into between Welspun Delhi Meerut Expressway, a wholly-owned subsidiary of the company and NHAI for execution of the project on 4 March 2016, declared the appointed date for the project as 28 November 2016. Under the concession agreement, construction of the project is to be completed within 2.5 years from the appointed date and is to be maintained for 15 years thereafter, post which it will be transferred to NHAI. The project is to develop the existing section of a road in Delhi by six laning and four laning the either side of the expressway on design, build, operate and transfer basis. The announcement was made after market hours yesterday, 29 November 2016.

Eros International Media said that the meeting of board of directors of the company will be held on 2 December 2016, to consider and approve the proposal to raise funds through issue and offer of secured/unsecured, redeemable, non convertible debentures on public/private placement basis, in one or more tranches, upto the limit as may be decided by the board. The announcement was made after market hours yesterday, 29 November 2016.

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