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Zydus said it has received Prior Approval Supplement (PAS) approval from the US Food and Drug Administration (USFDA), which allows for a site transfer and manufacturing of the drug at Jarod.
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Higher sales of Brezza and Balena helped Maruti report better realisations in third quarter, said shwin Patil, Research Analyst, LKP Securities.
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At present, the two models have a waiting period ranging between 20-24 weeks depending upon the variants.
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Lower promotion expense and higher other income have boosted Maruti Suzuki‘s profits in the second quarter of FY17 ended September 2016. The carmaker‘s management believes profits will increase once operations at its Gujarat plants begin in full swing.
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The first phase of the plant with a capacity of 2.5 lakh units is expected to become operational by early next year.
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RC Bhargava Chairman, Maruti Suzuki said: “We have decided today in the board meeting that the voting for the minority shareholders will commence on November 16 and will end on December 15 with results coming out on December 17.â€
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Maruti Suzuki India's board is likely to take up this week finalisation of dates for voting by minority shareholders to allow parent Suzuki to own and invest in the upcoming Gujarat plant. The board of country's largest carmaker is also scheduled to meet on October 27 for consideration of its second quarter financial results among others.
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Commenting on the land bill, he said it "is stuck but it does not impact us because we have all the land we need in Gujarat plant for our expansion over the next few years".
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With regulatory norms in place, country's largest carmaker Maruti Suzuki India expects the delayed minority shareholders' voting on allowing parent Suzuki to own and invest in the Gujarat plant to happen soon.
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The Detroit carmaker, which has the capacity to produce more than 280,000 cars a year in India, will reduce this to 220,000 a year by 2025 as it stops making cars at one plant and modestly raises capacity at its second plant in the country.
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The factory, opened on Thursday in Gujarat, will nearly double Ford's production capacity in India to 610,000 engines and 440,000 vehicles a year. It will make engines and compact cars such as the EcoSport, a small SUV, and the Figo Aspire sedan.
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Given that the Gujarat plant will be funded via internal accruals, the investment will happen over a phased period, based on order, said Amit Kalyani, Executive Director, Bharat Forge.
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The fund managers or investors have said that Maruti did not make true fair, meaningful and adequate disclosures. They further said that the MSIL board which is the Maruti board does not seem to have exercised independent professional judgement.
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The second letter has been signed by 16 fund managers from the mutual fund and insurance industry. In this letter, they have reasoned out why they are opposing it.
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The second letter has been signed by 16 fund managers from the mutual fund and insurance industry and this letter is much harsher than the first one. In this letter, they have reasoned out why they are opposing it.
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Suzuki last month decided to take over Maruti's proposed plant in Gujarat and invest in the unit through wholly-owned unit Suzuki Motor Gujarat Pvt Ltd.
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Plans to make Gujarat plant a separate entity were on for long as Maruti did not have the required bandwidth to manage so many facilities.
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Amisha Vora of Prabhudas Lilladher feels Maruti Suzuki will not outperform from current levels. However, one may, because of its huge market shares, the franchise that they have, continue to hold, she adds.
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MSIL shares fell 8 percent on Tuesday on worries that its profit margins would be limited once it started buying cars from the Suzuki plant in a few years time.
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Maruti Suzuki today announced that its parent Suzuki would be setting up a new 100% owned subsidiary in Gujarat and would manufacture cars on behalf of Maruti.
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State-owned Indian Oil Corp (IOC) will invest about Rs 8,000 crore to expand capacity at its Koyali oil refinery in Gujarat to 18 million tonnes per annum by 2016-17.
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Manoj Gaur of Jaiprakash Associates told CNBC-TV18 that the stake sale plan of their Gujarat's cement arm, Jaypee Cement, had not been called off. He added, that it will be complete by the year-end and the focus lies on debt reduction on the balance sheet.
