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Posts tagged Value Pickr
Kitex Garments Limited (20-11-2015)
US opposes India’s latest round of incentives to boost textile exports
By ET Bureau | 20 Nov, 2015, 04.00AM ISTPost a Comment
NEW DELHI: The United States has opposed India’s latest round of incentives to provide a fillip to exports, alleging violation of a global trade rule for export competitiveness in textiles.
Commerce department officials said the US raised this issue more than a week ago, after India increased support for exports of several products including textiles while expanding the scope of the Merchandise Exports from India Scheme (MEIS) on October 30.
The government included exports of cotton fabrics, both woven and knitted, and made-ups to leading markets including African countries under the MEIS. Under the World Trade Organisation’s agreement on subsidies and countervailing measures, when the export share of a developing country with per capita income below $1,000 a year touches 3.25% in any product category for two consecutive calendar years it is deemed to have gained “export competitiveness”.
US opposes India’s latest round of incentives to boost textile exports
Such a country is then required to phase out export subsidies for the items for eight years from the second year of breach. The WTO mandates developing countries to phase out the export subsidies within the eight-year period, preferably in a progressive manner. The WTO had in 2010 asked India to consider phasing out the subsidies for textiles and clothing.
“However, a developing country member shall not increase the level of its export subsidies, and shall eliminate them within a period shorter…when the use of such export subsidies is inconsistent with its development needs,” the agreement says.
The US has flagged the issue of export competitiveness in textiles and said that India cannot give additional subsidy during the phase-out period, said an official, requesting not to be identified. Another official, in the Cotton Textiles Export Promotion Council, said India has crossed the export limit and the government is aware of this but the market is moving slow.
“As for the removal of subsidies, we can either gradually phase them out or immediately stop them in 2018 on a pre-decided date,” he said.
he government included exports of cotton fabrics, both woven and knitted, and made-ups to leading markets including African countries under the MEIS.
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Torrent Pharma Ltd (20-11-2015)
Nexium row between Dr Reddy’s and Astra Zeneca hotting up
Dr Reddy’s sues AstraZeneca over purple colour of Nexium generic
By Vikas Dandekar, ET Bureau | 20 Nov, 2015, 04.00AM ISTPost a Comment
MUMBAI: Hyderabad-based drug maker Dr Reddy’s has filed a lawsuit in a US court against Anglo-Swedish drug giant AstraZenecaBSE 1.68 % alleging material breach of a settlement agreement that had released the company from any liability in connection with generic versions of Nexium, the blockbuster drug used to treat heartburns and gastric ulcers.
Last week, AstraZeneca as part of a lawsuit against Dr Reddy’s moved in a Delaware Court obtained a temporary restraining order preventing the Indian firm from selling copies of Nexium on grounds of trademark infringement for using the colour purple, which was similar to the original brand.
AZ had asserted to the court that its purple coloured pill is protected by three federal trademarks and the generic drug launched by Dr Reddy’s in September could be confusing to users. In addition to Dr Reddy’s, generic versions of Nexium is sold by companies such as Mylan and Teva in colours like blue and white.
Countering that move, in its November 17 filings in the New Jersey Court, Dr Reddy’s has said that as part of an earlier settlement in 2011, AstraZeneca was made aware and had full knowledge that DRL intended to utilise the colour purple for its capsule.
Dr Reddy’s sues AstraZeneca over purple colour of Nexium genericThe Indian drug maker noted, AZ’s move to sue Dr Reddy’s were committed wilfully, knowingly, maliciously and in conscious disregard of AZ’s legal obligations to DRL and caused immediate, great, irreparable harm to DRL’s property and business. The company has claimed for damages.
Subsequent to the ANDA filings for Nexium generic by Dr Reddy’s a few years ago, the Dr Reddy’s petition said AZ had sued Dr Reddy’s for patent infringement and during that suit, DRL produced portions of its ANDA and physical samples, which disclosed the ingredients, form, packaging and look of its proposed generic product, including that its proposed capsule was purple.
A report from HSBC analyst Girish Bakhru estimated sales forecast of $55 million for Dr Reddy’s during the year, but added that figure is predicated on the product getting back into the market within a stipulated timeframe. In a separate development, Lundin Law, a Los Angeles-based law firm specialising in securities litigations said it is investigating claims against Indian drug firm Dr Reddy’s concerning possible violations of federal securities laws.
The investigation, the law firm in a November 18 release said is related to allegations that certain statements issued by Dr Reddy’s were false and misleading concerning the company’s financial performance. The law firm made a general appeal to join a class action suit noting that “no class has been certified in its action. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member”.
Dr Reddy’s refuted claims made by the law firm. In a statement, it said, “Dr Reddy’s has always adhered to all disclosure requirements both of the Securities and Exchange Commission (SECs) and Indian stock exchanges; including accounting practices as per the International Financial Reporting Standards ( IFRS) and the Indian Accounting Standards. The Company has no further comment on what might be advertorial Press releases by law firms and refutes all allegations.”
Page industries (20-11-2015)
Does it really matter whether basant has made an exit in page gruh. He must have found many new exciting bets to punt on specially in small cap pharma space where he seems super bullish. After watching the video my sense is that he has trimmed his position in both. Let’s us try to dig smal l cap pharma space more closely
Historical P/E ratios (19-11-2015)
Hi,
Is there any good source for knowing historical P/E of a company ??
Page industries (19-11-2015)
Don’t think he confirmed he exited. He just wanted to remain evasive on specific stocks. He has surely exited Hawkins, HDFC and may be Gruh too.
Screener.in: The destination for Intelligent Screening & Reporting in India (19-11-2015)
thanks sourabh. I do the similar comparison and also see profit growth for the year, 3 years. Do you know how our ayush and pratyush calculate G factor and PEG ratio. Ayush and pratyush can you share please.
Page industries (19-11-2015)
Looks like Basant Maheshwari has mostly exited Page Industries.
Disclosure: Not invested. Thought of sharing this news that I read.
Kitex Garments Limited (19-11-2015)
No impact on kitex…kitex is not msme in first place…investment in plant and machinery is more than 10crores…
Jay Jay mills is also not a msme…jay jay mills exports the rest of the demand…
But a nice move by govt.
Standard Chartered IDR (19-11-2015)
Excerpts from a recent article
About $5 billion of advances Standard Chartered made to Indian borrowers have been internally classified as at risk of defaulting, in addition to the $1 billion of onshore loans that have already become non-performing in India
and
While India’s broader banking industry has been afflicted by rising defaults, Standard Chartered stands out. At 8.9%, it had the second-highest bad-loan ratio among the 50 largest lenders in India as of March 31, five times that of HSBC Holdings Plc. and seven times Citigroup Inc.’s, the latest filings to the central bank based on local loan books show.
Winters now has to untangle the bad-loan mess in India even as he retains Sands’s focus on emerging markets. It may take time: 65% of Standard Chartered’s exposure in the country is to borrowers rated below investment grade, according to the bank