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corporate news (2)
Nifty Pharma plunges 6% led by Sun Pharma, Cadila, Aurobindo Pharma
The Nifty Pharma index plunged 6% on Monday amid heavy selling pressure in Sun Pharma, Cadila, Aurobindo Pharma, Glenmark Pharma, and Lupin.
The indexs fall could be attributed to weak global cues after media reports stated that the US filed a lawsuit accusing Teva Pharmaceuticals USA Inc of orchestrating a scheme with 19 other drug companies to inflate drug prices, sometimes by more than 1,000%.

Hero MotoCorp launches two new scooters Maestro Edge 125 and Pleasure+ 110
In keeping with its aggressive growth strategy for the scooter segment, Hero MotoCorp, the worlds largest two-wheeler manufacturer, today further strengthened its scooter portfolio with the launch of two powerful and stylish new scooters  Maestro Edge 125 and Pleasure+ 110  for customers in India and across its global markets.
Following its successful foray in the 125cc scooter segment with Destini 125, Hero MotoCorp today launched Indias first scooter with Fuel Injection (FI) technology  the Maestro Edge 125. The FI variant of the scooter is priced at Rs 62,700/-* while the i3S (Carb) variants are priced at Rs. 58,500/-* (Drum) and Rs. 60,000/-*.

PC Jeweller declines 3% on demerger of export division
Shares of PC Jeweller were trading 3% down on Monday after the board approved the demerger of its export division.
Accordingly, the board approved subsequent amalgamation of the same with its wholly owned subsidiary company that is PCJ Gems & Jewellery Limited under Sections 230 – 232 of the Companies Act, 2013, with effect from the appointed date i.e. April 1, 2019, the company said in a press note released on Sunday.

Zydus gets USFDAs approval for Chlorthalidone Tablets USP
Zydus Cadila has received the final approval from the USFDA to market Chlorthalidone Tablets USP (US RLD – THALITONE), 25 mg and 50 mg. Chlorthalidone is used to treat high blood pressure (hypertension). It is also used to treat fluid retention (edema) in people with congestive heart failure, cirrhosis of the liver or kidney disorders or edema caused by taking steroids or estrogen. It will be manufactured at the groups formulations manufacturing facility at SEZ, Ahmedabad.
The group now has 266 approvals and has so far filed over 350 ANDAs since the commencement of the filing process in FY 2003-04.

IDFC First Bank tanks 9% post Q4FY19 numbers
Shares of IDFC First Bank plunged 9% on Monday after the company reported a net loss of Rs218cr for the quarter ended March 31, 2019, as compared to a PAT of Rs42cr in the corresponding quarter last year.
For FY19, the net loss was Rs1, 944cr, which included accelerated goodwill amortization on the merger of Rs2, 599cr and tax credits of Rs1, 351cr. But for these exceptional items of goodwill amortization and one-time tax credits, the earnings before tax would have been a loss of Rs696cr, the company said in a press note after markets hours to the exchanges on Friday.

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