Credit Suisse View on Lupin Upgrade to Outperform from Neutral. Increase target by 27 percent to Rs 2,250/share. Upside potential from diabetes drugs Fortamet & Glumetza generics appears high. FY17e EPS growth should be strong at 70 percent. FY17e growth should be supported by US launches. Nomura View on Lupin Upgrade to Buy, Target price of Rs 2,149/share. High impact approvals to drive earnings from Q4FY16. CARE cuts rating of GMR Infra, Long-term loans to Hyd-Vijayawada Expressway cut to default grade 'D'. Cut due to delays in servicing debt and cash losses. SPV also facing persistent cash losses on lower than expected toll revenues. Total short and long-term banks' facilities at Rs 1,768 crore. Company holds 90 percent stake in the expressways. Expressways are special purpose vehicle set up for the road project.CARE downgrades Srei Infra Fin and Srei Equipment Fin's bonds and bank facilities. Debt rating cut from AA- to A+. Downgrade due to deterioration of asset quality. CARE raises concerns over health of infrastructure financing companies. CARE downgrades companies proposed redeemable bonds amounting to Rs 1,400 crore.New ratings are investment grade. Glenmark Pharma launches Teneligliptin under the name Ziten & Zita Plus. Teneligliptin used for advanced Diabetes treatment. Teneligliptin available at a 55% cheaper cost versus other gliptins. Teneligliptin will cost Rs 19.90 per tablet versus average of Rs 45 per tablet. Gliptins becoming preferred option to manage Type 2 Diabetes. Teneligliptin only gliptin to be manufactured in India from API to formulation. Immediate rollout of Teneligliptin in Pune and across Maharashtra.C&C Constructions bagged USD 141.28 million (Nearly Rs 920 crore) order from Oman. Project by Engineering Projects (India) for road and civil work in Oman. Market Cap of Rs 29 crore. Consolidated Sales at Rs 1,065.8 crore versus Rs 1,320.8 crore.Net Loss at Rs 176 crore versus Loss of Rs 94 crore. Finance cost at Rs 193 crore versus Rs 206 crore. Indian operations have been making EBIT loss. Elder Pharma to mull proposal for sale of overseas arm on Monday, September 28. Company said they were in talks with lenders for restructuring on September 11. Subsidiaries include UK-based Neutra Health, Elder Biomeda in Bulgaria. Subsidiaries include a JV in Nepal. Board had earlier approved proposal to restructure business. Restructuring could be via raising capital, hiving assets. Restructuring could be via other strategic options. Slump sale transaction with Torrent Ph completed on June 29, 2014. Company raised Rs 2,004 crore by selling branded domestic formulation business to Torrent. Future Retail Delivery quantity at 20.8 lakh shares versus 10-day average of 1.12 lakh. Delivery percent at 68 percent. Sadbhav enginerring Delivery quantity at 6.6lakh shares versus 10-day average of 96,000. Delivery percent at 95 percent. Indiabulls Housing Finance Delivery quantity at 70 lakh shares versus 10-day average of 17.2 lakh. Delivery value at 514 crore. Delivery percent at 71 percent.
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