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TOP CORPORATE NEWS- 6 FEB 2019

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Dr Reddys denies any wrongdoing in price-fixing complaint filed by US insurance firm
Dr Reddys Laboratories in a press note to the exchanges on Wednesday clarified on a media report which stated that US insurance firm had named Dr. Reddys in a price-fixing complaint. The company denies any wrongdoing and intends to vigorously defend against these claims.
“We believe that there is no material impact to the company’s operations or consolidated results,” the company said.

Banks need Rs20 lakh cr fresh deposits to meet credit demand
CRISIL estimates bank credit in India would grow at a pacy ~13-14% on average between fiscals 2019 and 2020, significantly faster compared with the 8% seen in fiscal 2018, which would force a change in the deposit mobilization plans of banks over the medium term.
To meet this credit growth, banks will have to raise about Rs25 lakh cr over the two fiscals. While Rs5-6 lakh cr is expected to become available through the release of statutory liquidity ratio (SLR) funds, ~Rs20 lakh cr would need to be raised through fresh deposits.

RPP Infra wins order worth Rs72.2cr
RPP Infra Projects announced winning new orders worth Rs72.2cr in an exchange filing on Wednesday afternoon.
The news has sent the stock prices soaring to a high of Rs105, a jump of 12% from its previous closing of Rs92.35 on the BSE. These orders also pave the way for the infra companys entry in Gujarat.

Zee Entertainment, Dish TV stocks spurt after block deal
Shares of Dish TV soared 5% on the BSE after ~12 lakh shares of the company changed hands in a block deal on NSE. Power Finance stock too was trading slightly higher after ~34.6 lakh shares changed hands in a block deal on NSE. In other block deals, shares of Zee Entertainment jumped 6% after ~11.3 lakh shares changed hands in a single deal, while Reliance Power stock slipped ~1% after ~14.7 lakh shares changed hands in a block deal on NSE.

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