TRACKPAD

IRB Infrastructure Developers Receives Letter Of Award From NHAI

IRB Infrastructure Developers has received Letter of Award from National Highways Authority of India (NHAI) for the project of six laning from Udaipur to Rajasthan/ Gujarat Border i.e. from km 287.400 to km 401.200 section of NH-8 in the states of Rajasthan and Gujarat on DBFOT (Toll) under NHDP Phase V (package-V). The estimated cost of the project is around `2100 crores and the concession period for the project is of 21 years including construction period of 910 days. The company has offered premium of `163.80 crores to NHAI as part of the concession agreement. Shares of the company in the last 3 months have surged over 25 per cent. IRB Infrastructure Developers is a road, build-operate-transfer (BOT) operator. The company's principal activity is the construction and maintenance of roads. Its business segments include road infrastructure projects; real estate and others. It has a portfolio of over 22 road BOT projects, out of which 14 projects are under construction

Govt Sets Up New Committee For Capital Goods Sector

The Heavy Industries Ministry of the central government has recently set up a new inter-ministerial standing committee to encourage technology development activities especially for the capital goods sector. The committee will be headed by Dr V K Saraswat, a member of NITI Aayog. The committee has been created for identification of technological gaps and also upgrade technologies in the Indian capital goods sector. The committee will review technological gaps highlighted by the industry and suggest a technology development roadmap for the sector, said sources in the Ministry. It will also encourage development contracts and work towards setting up of centres of excellence. Dr Saraswat headed committee is also expected to ensure development of international research and development collaborations.

Pfizer Completes Transaction With Piramal Enterprises

Pfizer has completed its transaction for the sale of four products to Piramal Enterprises. The company has sold its products i.e. Neko Soap, Sloans, Ferradol and Waterbury's Compound for a total consideration of `110 crore. Pfizer has completed its transaction with requisite formalities and receipt of necessary regulatory approvals

for the transaction.On the financial front, Pfizer's revenue has increased by 3.74 per cent to Rs.501 crore in Q1FY17 as compared to the same period in the previous financial year. However, the company's EBITDA has declined by 10.69 per cent to Rs.101 crore in Q1FY17 on a yearly basis. Its net profit also has risen by 6.48 per cent to Rs.80 crore in Q1FY17 as compared to same period in previous fiscal. Pfizer has a portfolio of approximately 140 products across over 15 therapeutic areas. The company is engaged in manufacturing, marketing, trading and exporting pharmaceutical products. Ithas its own manufacturing facility at Thane and Goa

SEBI Aims To Refurbish The Corporate Bond Market

In a move which can strengthen the corporate bond market, SEBI has decided to allow well-regulated Foreign Portfolio Investors (FPIs) to trade directly in these securities without any broker. Currently, FPIs can trade in Indian markets only through brokers who are registered with the stock exchanges as their members.The revised norms would be applicable for Category-I FPIs that include sovereign wealth funds and central banks as well as Category-II FPIs, which include mutual funds and banks. 

However, hedge funds, individuals and other high risk foreign investors will not get this facility.According to the SEBI, access to FPI in bond market has been liberalised. Bank loans are not solution for long term financing and there is a serious flaw in transmission of monetary policy. Lot more needs to be done to develop the corporate bond market.

Syngene International Inks Deal With Strand Life Sciences

Syngene International entered into a deal with Strand Life Sciences to purchase systems biology and pharma services practice. The company has purchased assets of Strand Life Sciences related to systems biology, Heptox, and pharma bioinformatics services.Syngene is constantly looking for new opportunities to expand its service offerings and plans to expand into areas such as NGS, translational R&D, predictive toxicology and pre-emptive target validation services. All of these areas require strong bioinformatics capabilities.According to Transparency Market Research, the global bioinformatics market is estimated to grow at CAGR of 25.4 per cent to USD 9.1 billion in 2018. This deal gives Syngene the access to Strand's patented virtual liver model and the NGS analytics platform. The virtual liver model is designed to predict the toxic effect of different drugs or chemicals on the liver (both rat and human) using information from laboratory-based experiments prior to actual testing on live animals or humans.

Brigade Enterprises Tie Up With NestAway

Brigade Enterprises has signed a memorandum of understanding with NestAway, a rental solutions provider. Through this collaboration, Brigade Group will offer comprehensive rental assistance to all of its existing customers as well as over ten thousand apartments in different stages of construction that are currently in process of being readied for handover, across projects. Its customers will now be able to avail of a rental default guarantee that assures them timely rent.According to company's management, Brigade Enterprises has many existing customers looking for quality rental assistance. Assuring clients of an organised rental and maintenance service is a value-addition that is on offering as a first in the building industry.