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Asian markets have opened the trading day higher today with shares in Japan leading the region. The Nikkei 225 is up 1.21% while the Hang Seng is up 0.60%. While the Shanghai Composite is trading down by 0.13%. Stock markets in Europe and US ended their previous session on a positive note.
Indian share markets have opened the day on a firm note amid strong global cues. The BSE Sensex is trading higher by 310 points (up 1.2%) while the NSE Nifty is trading higher by 84 points (up 1.2%). The BSE Mid Cap index and BSE Small Cap index both have opened higher by 1.7% each. The rupee is trading at 67.62 to the US$.
As per an article in The Economic Times, Bharat Heavy Electricals Limited (BHEL) has secured export orders for supply of industrial motors to the African nations of Togo and Benin. Scancem International DA, Norway (Heidelberg Cement group) has placed the order for the motors for their cement plants, Ciments Du Togo S.A. & Cimbenin S.A, Benin.
With this, BHEL has forayed into the international market. Further, the motors will be manufactured and supplied by BHEL Bhopal unit.
Recently, the company has built 500 MW Kosti Thermal Power Plant and is the largest thermal power plant of Sudan. The project came close on the heels of the successful commissioning of BHEL's 28 MW Nyaborango Hydro project in Rwanda, 2x20 MW Steam Turbine and Generators for cogeneration application at Tendaho Sugar Factory in Ethiopia.
Moreover, BHEL now has presence in 80 countries across all the six inhabited continents. Going forward, whether BHEL expands its footprint will be the key thing to watch out for.
BHEL's share price opened up by 1.1%.
In another development, a leading financial daily reported, the Indian urea industry may witness a major transformation where the government could take a major share by 2020. In this regard, the government has initiated series of steps to revive several state-owned sick industrial units.
The government hopes to commission five to six fertiliser plants in Iran, Congo and Algeria and the domestic market by 2020, the reports noted. The move comes at a strategic time when private sector companies are shying away from the urea market due to excessive government regulation.
Moving on to the news from stocks in pharma sector. According to an article in a leading financial daily, Lupin has launched Amabelz tablets in the American market after getting approval from the US health regulator. The tablets are used in prevention of postmenopausal osteoporosis which is a generic version of Amneal Pharmaceuticals' Activella tablets in the US.
Lupin's Amabelz Tablets are launched in the strengths of USP, 0.5 mg / 0.1 mg and 1 mg/ 0.5 mg and are the AB rated.
According to IMS MAT sales data, Activella had US sales of US$91.1 million. Meanwhile, Lupin has also launched Iron Isomaltoside injectable iron formulation under two brand names Isofer and Jilazo in India. Lupin had acquired the exclusive rights to market and sell the injectable formulation from Denmark-based Pharmacosmos A/S.
It is imperative to note, Lupin had recently received clearance from the USFDA on its Goa plant. This clearance was long awaited and would pave way for more lucrative approvals. The pharma industry as whole is undergoing regulatory crackdowns. Considering the pharma's regulatory distresses, are Indian pharma companies now adapting to the scrutiny by the USFDA? Bhavita Nagrani, our pharma sector analyst, shares her insights in one of our premium editions of The 5 Minute Wrap Up (Subscription required).
Lupin's share price opened down by 2.4%.
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