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Samsung's team to make screens for Apple devices: Report

Written By Unknown on Rabu, 15 April 2015 | 15.45

The team, formed on April 1, also helps with sales and Apple is now the biggest external customer for Samsung components, Bloomberg said.

Samsung Electronics Co has created a standalone team of about 200 employees to work exclusively on making screens for rival smartphone maker Apple Inc's products, Bloomberg reported, citing people with direct knowledge of the matter.

The team at Samsung Display Co, which provides screens for iPads and MacBooks, helps develop products and is only allowed to share information about Apple's business within the group, Bloomberg said. (http://bloom.bg/1auomuH)

The team, formed on April 1, also helps with sales and Apple is now the biggest external customer for Samsung components, Bloomberg said.

A Samsung Display spokesman declined to comment on the report. Representatives at Apple could not immediately be reached for comment outside regular U.S. business hours.

Samsung and Apple last year agreed to drop all patent litigation outside the United States, scaling down a protracted legal battle between the smartphone rivals.

The legal battle between the smartphone rivals began in the United States in 2011 when Apple accused Samsung of copying its iPhone designs.

Samsung countered that Apple was using pieces of its wireless-transmission technology without permission.


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Strides Arcolab gets USFDA nod for bowel cleansing medicine

The approval of the oral solution is for strength of 420 grams of Glycol 3350, 11.2 grams of sodium chloride, 5.72 grams of sodium bicarbonate and 1.48 grams of potassium per 4 The product will be manufactured at the company's oral dosage facility in Bengaluru and marketed by Strides in the US, it added.

Drug maker Strides Arcolab  on Wednesday announced receipt of approval from US health regulator for selling medicine used for cleansing the bowel prior to The company has received nod from the US Food and Drug Administration for oral solution of polyethylene glycol 3350, sodium chloride, sodium bicarbonate and potassium, Strides Arcolab said in a filing to the BSE.

The approval of the oral solution is for strength of 420 grams of Glycol 3350, 11.2 grams of sodium chloride, 5.72 grams of sodium bicarbonate and 1.48 grams of potassium per 4 The product will be manufactured at the company's oral dosage facility in Bengaluru and marketed by Strides in the US, it added.

The oral solution is used for bowel cleansing prior to and along with electrolytes, it is used in preparation of colonoscopy in adults and paediatric patients of six years and Citing IMS data, Strides Arcolab said US market for the oral solution is estimated to be around USD 20 millionStrides Arcolab shares were trading 1.63 percent up at Rs1,221.95 per scrip during afternoon session on the BSE.

Strides Arcolab stock price

On April 15, 2015, at 14:13 hrs Strides Arcolab was quoting at Rs 1219.95, up Rs 17.60, or 1.46 percent. The 52-week high of the share was Rs 1249.00 and the 52-week low was Rs 448.50.


The company's trailing 12-month (TTM) EPS was at Rs 69.51 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 17.55. The latest book value of the company is Rs 273.58 per share. At current value, the price-to-book value of the company is 4.46.


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'Make in India' is part of UTC's DNA: Gaurang Pandya

Watch the interview of Gaurang Pandya, President at UTC Building & Industrial Systems (India) with Shereen Bhan on CNBC-TV18, in which he spoke about the mood as far as infrastructure business is concerned.

Watch the interview of Gaurang Pandya, President at UTC Building & Industrial Systems (India) with Shereen Bhan on CNBC-TV18, in which he spoke about the mood as far as infrastructure business is concerned.


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India may go to WTO against EU over drug clinical trials

The European Medicines Agency (EMA) suspension became effective in January, a month after France, Germany, Belgium and Luxembourg suspended the sale of 25 generic drugs that were approved based on trials conducted by GVK Biosciences.

India may go to the World Trade Organisation (WTO) if the European Union does not reconsider its decision to suspend the sale of about 700 generic drugs that were approved based on clinical trials by GVK Biosciences Pvt Ltd, the firm's CEO said.

The European Medicines Agency (EMA) suspension became effective in January, a month after France, Germany, Belgium and Luxembourg suspended the sale of 25 generic drugs that were approved based on trials conducted by GVK Biosciences.

The privately-held company, part of India's infrastructure builder GVK Group, conducts clinical research for domestic and foreign drugmakers.

The regulatory actions were taken after the French watchdog inspected a GVK Biosciences manufacturing plant in southern India last year and found manipulation of data from electrocardiograms (ECG) for at least five years.

The French regulator said at the time that suspensions were taken out of precaution and there was no reason to suggest the drugs were ineffective or harmful.

The drugs suspended by the EMA include those made by US firms Mylan Inc and Abbott Laboratories , as well as large Indian companies such as Lupin Ltd  and Dr Reddy's Laboratories .

After an appeal by the company, the Indian government set up a panel of experts last year to investigate the matter and found no manipulation, GVK Biosciences CEO Manni Kantipudi told Reuters.

An Indian government delegation visited the European authorities between February and March to ask that the suspension be reconsidered, Kantipudi said.

If that does not happen, New Delhi is ready to take commercial and legal action, which could include action at the WTO, India's Commerce Secretary Rajeev Kher told local one of the Newspaper last week.

The commerce department did not respond to a request for comment by Agency.

"There are some legal options, but we will see what comes out of these diplomatic talks and then we and the commerce ministry will decide on what to do," Katipudi said. He added that European authorities will get back to the company, but haven't said by when.

EMA's press office did not immediately respond to a request for comment on Wednesday.

GVK Biosciences is the latest Indian firm to come under international scrutiny over quality issues. Several large Indian drugmakers have over the past two years faced US and UK sanctions over issues ranging from data fabrication and manipulation, to sanitation.

Lupin stock price

On April 15, 2015, at 14:13 hrs Lupin was quoting at Rs 1969.00, down Rs 11.8, or 0.6 percent. The 52-week high of the share was Rs 2112.00 and the 52-week low was Rs 928.80.


The company's trailing 12-month (TTM) EPS was at Rs 56.97 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 34.56. The latest book value of the company is Rs 155.27 per share. At current value, the price-to-book value of the company is 12.68.


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80% of acquired land will be used for irrigation: Gadkari

Written By Unknown on Selasa, 14 April 2015 | 15.45

The Supreme Court on Tuesday sought the government's response on a plea of farmers' organisations challenging the legality of the fresh promulgation of the Land Acquisition Ordinance. The farmers' organisations, in their plea filed on April 9, have challenged the re-promulgated land ordinance, terming it as "unconstitutional" and ultra vires of the Constitution, besides being a "colourful exercise of power" by the executive to "usurp" the law-making powers of the legislature.

The man who leads the government charge against UPA's Land Bill says the Centre will not budge on changes to the bill. Union transport and shipping minister Nitin Gadkari spoke exclusively to CNBC-TV18's Shereen Bhan- saying the Centre will also challenge the green tribunal's order against old diesel vehicles plying in Delhi.

He also spoke about his ambitious plans to spruce up road projects that are stalled.

Below is the transcript of Nitin Gadkari's interview with CNBC-TV18's Shereen Bhan

Q: Let me start by asking you about news that hit the headlines today and that is the Supreme Court issuing a notice on the Land ordinance to the government asking why the ordinance was re-promulgated. The appeal has been made by Non Government Organisations (NGOs) representing four farmer unions in specific and they say that the re-promulgation and the proroguing of the Budget session amounts to a fraud in the Constitution. What is the government's response going to be?

A: First of all they have right to appeal in the Supreme Court. Now the stay is not granted Supreme Court asking the government reply for that, we will submit to the Supreme Court, that is not the problem. The problem is that before December 31 if we cannot get that Ordinance, otherwise the situation will be such that – even we won't be in position to give the 1:4, 1:2 compensation to the farmer because in the previous Act there was a provision that the last date for execution will be up December 31.

Q: But there is opposition including from your own allies. In the Lok Sabha you enjoy the majority, but you didn't table it in the Rajya Sabha, you chose to prorogue the Budget session and instead re-promulgate the ordinance. It raises question in people's minds as to the desperation for this government to clear this Ordinance?

A: Who is responsible for that when the bill is passed by parliament? Only in the Rajya Sabha, for two times, it is the Rajya Sabha opposition. When there was a discussion we were ready to cooperate with them. We are ready to accept their suggestion at the same time. They have decided they should not pass this bill in the Rajya Sabha. That was the reason we had to make an ordinance. It is because of the non cooperation of the officials in the Rajya Sabha. How are we responsible for that?

Q: Are you going to make changes as far as the two contentious issues, 9 amendments have been moved by your government in the bill that has been passed by the Lok Sabha but are you willing to make any concessions on the two controversial and crucial issues of consent and social impact assessment? That is what the opposition claims is the effort to sort of try and be pro-corporate. You yourself have stated on record that you are willing to take more suggestions onboard and make more amendments. Can we expect any dilution as far as consent and social impact assessment is concerned?

A: First of all you have to understand what is the meaning of consent clause. Eighty percent of the land in the country, its acquisition is only for irrigation. Now in irrigation if we have to make one dam, for 3000 acre the dam is there and for 3 lakh acres of land they get  water from it. Now this consent clause says 80 percent of the farmers, if they give the permission, we can make the dam.

Now suppose you have a house in the road construction and widening of the road is very essential. Present road sees a lot of accidents. So, in the public interest we have to increase the width of the road. If we have taken their land for the widening of the road, if 80 percent of people say no we will not give you any land, we cannot extend that road.

Suppose if anywhere we want to make low cost housing for the poor people and if 80 percent of people say no we will not give you land, it means that. What is the meaning you understand?

Q: Then you go back to the original law, the law that was attempting to be changed by the 2013 Act. The eminent domain then comes right back to where it was?

A: You are not correct. In the bill which is passed by UPA in parliament, almost their 13 Acts – Coal Mines Act, Mining Act, Railways Act everywhere there is an exemption from consent clause and social impact assessment (SIA).

I am asking you a simple question, to the opposition party particularly the Congress — in the Coal Mines Act you acquire the land and without any transparent process you allot coal mines to big industrialists of this country, CAG gave a report that this is a loss to the country of Rs 1 lakh 88 thousand crore and in the auction of 20 mines we get Rs 2 lakh crore. Now I am asking a question to the Congress, at the time when you acquired the land and gave coal mines to the big people you never remembered this consent clause and SIA?

Q: Any dilution at all possible as far as SIA and consent is concerned?

A: What is the meaning of consent clause? If you accept consent clause and SIA means you cannot start any industry.

Q: Your former ministry, the rural development ministry has apparently written to state governments saying under the Pradhan Mantri Gram Sadak Yojana because the World Bank is funding large parts of that scheme please make sure that whatever clearances you need, whether it is environment, forest, SIA, consent is adhered to. Why then that double standard? If it is okay for the World Bank, why should it not be okay for all the other projects that the government is hoping to tale forward?

A: There is no double standard. There are three subjects in the constitution. One is in the state list where state is authorised to make the law for that.

Second list is the centre list where the central government is responsible and authorised to make the law and third list is the concurrent list. Already the Land Acquisition Act is in the concurrent list. When the Congress party passed the bill the Prithviraj Chavan government in Maharashtra they took an exact decision opposite this law.

The Hooda ministry, it is a great miracle for me, the person who acquired lakhs of acres of land of farmers – the Chief Minister of Haryana now he is fighting against land acquisition.


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Modi's Germany visit to open new avenues: Baba Kalyani

In an interview to CNBC-TV18, Baba Kalyani of Bharat Forge, discusses what Prime Minister Narendra Modi's Germany visit means to India Inc.

Prime Minister Narendra Modi is expected to attend a community meeting in Berlin hosted by the Indian ambassador. Earlier in the day Modi laid out the red carpet for German investors, promising a "predictable, stable and competitive" tax regime as he pitched his 'Make in India' agenda. In an interview to CNBC-TV18, Baba Kalyani of Bharat Forge , discusses what the development means for India Inc.

Below is the transcript of Baba Kalyani interview with CNBC-TV18's Sanjay Suri.

Q: At the Hannover Messe we have had the political speeches. What could be their fallout for industry we will hear from Baba Kalyani.

A: I think it has been a perfect venue to communicate India's new aspirations, specially the whole "Make in India" programme. I think Prime Minister Modi has communicated this extremely well at the Hannover Messe to the German industry, to the German government, to the German politicians and of course to the Indian industry that is present here.

Q: Any indication of the fallout? Of course it is early days but any indication that you are seeing?

A: From whatever private discussions that I have had with a number of my friends in the Germany industry, they are impressed, they are motivated. Nobody is going to jump in and open the floodgates and I don't think that is desirable. However, I think everybody is going to start looking at India in a new and a different way. Everybody is going to start looking at which areas they could invest in whether it is infrastructure, power. There was a lot of discussion on power and infrastructure. The Germans very rightly believe that unless you have high quality and 100 percent power you really can't develop business. Unless you have good quality of infrastructure you really can't make business productive.

Q: What about defence production, that should be an area that you should tell us more about?

A: Defence production was not on the discussion table from a business to business area right now. I think that is going to be discussed from what I hear in Berlin at a government to government level and I think some policy decisions on this might come out after tomorrow after which I think Indian business will engage with the German counterparts who are engaged in defence.

Q: We have had the Rafale deal which we are told is an of the shelf sale, whatever that may mean, but will there be a fallout benefit for Indian industry from it?

A: The most positive part of that is somebody has started making decisions and I think that is what in India we were lacking, decisions were not being made. I think the Prime Minister has made the right decision. I think Indian Air Force needs fighter jets. Their inventory of aircrafts has depleted quite a lot. So, it is a good thing. Now is this going to be the end game in itself? No. This is the beginning of creating a large aeronautics industry in India and I think as some weeks and months go by we will hear the contours of what this will bring to industry.

Bharat Forge stock price

On April 13, 2015, Bharat Forge closed at Rs 1309.45, down Rs 22.55, or 1.69 percent. The 52-week high of the share was Rs 1362.90 and the 52-week low was Rs 401.25.


The company's trailing 12-month (TTM) EPS was at Rs 27.26 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 48.04. The latest book value of the company is Rs 115.67 per share. At current value, the price-to-book value of the company is 11.32.


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Ban on diesel vehicles: NGT stays order for two weeks

The green panel directed the Delhi government, and other government departments to submit scientifically-backed views by May 1, the next date of hearing.

Heeding to the plea of the Delhi government, the National Green Tribunal Monday stayed for two weeks its order to impound diesel vehicles, heavy or light, plying in the capital for more than 10 years. "There shall be no impounding of vehicles for two weeks. We make it clear that we are varying our order only for two weeks," a bench headed by NGT Chairperson Justice Swatanter Kumar said.

It also asked the city government to submit suggestions on providing incentives to those transferring/scrapping old, polluting diesel vehicles and on fixing a cap on the number of vehicles to be registered in the capital. The green bench also sought rationalisation of parking charges to encourage people to use parking facilities so that they do not not park on roads. The matter was mentioned before the Tribunal by Advocate Zubeida Begum, appearing for Delhi government, who told the bench that the government was finding it really difficult to implement the ban order.

Seeking more time to implement the order, she contended that essential services like vegetable supply and garbage carrying trucks etc. are being hit due to the order. The green panel directed the Delhi government, and other government departments to submit scientifically-backed views by May 1, the next date of hearing.

Noting that diesel is prime source of air pollution in Delhi, the Tribunal on April 7 had held that all diesel vehicles which are more than 10 years old will not be permitted to ply in Delhi- NCR.


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Net neutrality: Flipkart pulls out of Airtel Zero

Amid a raging debate over equal Internet access for all, online marketplace Flipkart on Tuesday said it will walk away from ongoing discussions with telecom service provider Airtel for their platform 'Airtel Zero'.

Amid a raging debate over equal Internet access for all, online marketplace Flipkart on Tuesday said it will walk away from ongoing discussions with telecom service provider Airtel  for their platform 'Airtel Zero'.

"We will be walking away from the ongoing discussions with Airtel for their platform Airtel Zero. We will be committing ourselves to the larger cause of net neutrality in India," a company spokesperson said.

"We will be working towards ensuring that the spirit of net neutrality is upheld and applied equally to all companies in India, irrespective of the size or the service offered and there is absolutely no discrimination whatsoever," the spokesperson added.

Net neutrality implies equal treatment to all Internet traffic and any priority given to an application or company on payment basis is seen as violating the concept.

Launched last week, Airtel Zero is an open-marketing platform that allows customers to access a variety of mobile applications for free, with the data charges being paid by the applications.

Over one lakh netizens have already written to telecom regulator TRAI in support of net neutrality in the country.

Social networks like Twitter and Facebook have been buzzing with people campaigning that policy makers should not allow telecom companies to charge extra fees for Internet services or provide preferential access to certain apps. 

Bharti Airtel stock price

On April 13, 2015, Bharti Airtel closed at Rs 424.45, up Rs 13.10, or 3.18 percent. The 52-week high of the share was Rs 425.70 and the 52-week low was Rs 304.00.


The company's trailing 12-month (TTM) EPS was at Rs 28.61 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 14.84. The latest book value of the company is Rs 166.92 per share. At current value, the price-to-book value of the company is 2.54.


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Sahara supports Sebi's claim to bring $13mn to refund a/c

Written By Unknown on Senin, 13 April 2015 | 15.45

Engaged in a long-drawn legal battle with Sebi, Sahara has supported the regulator's claim before a US court to bring back nearly USD 13 million from sale proceeds of a business jet of the crisis-hit group.

The group also lauded "Sebi's active cooperation" in the matter, which relates to a court-ordered sale of a corporate jet owned by a Sahara group firm after a litigation there and a receiver was appointed to look into distribution of the fund kept in an escrow account.

While the Securities and Exchange Board of India (Sebi) had approached the Indianapolis court last month with a claim that funds need to be transferred to Sebi-Sahara Refund Account, to comply with a Supreme Court of India order, the demand was rejected by the US court because it was made beyond the stipulated timeframe and was not in accordance with its orders.

However, the court had asked the receiver to verify the validity of the claim and take a decision accordingly. Reacting to the development, a Sahara group spokesperson said on Monday in a statement that Hospitality Business Limited, a Sahara Group company, had acquired a new Airbus A319 aircraft. "The aircraft was to be given to a UK-based operator on a long-lease contract for operations as a luxury executive jet for private charters.

The aircraft was sent by Hospitality to Indianapolis-based Comlux for high-end interior design and cabin completion. "Hospitality was unable to pay the contracted fees to Comlux as a result of the Sahara group's inability to undertake further foreign exchange transactions.

Comlux therefore filed a suit against Hospitality in the Indianapolis court for damages under a lien and for liquidated damages under the cabin completion agreement, which was decreed."

On the claims made before the court for funds from the escrow account, Sahara said, "The receiver invited any third party claims as ordered by the Indianapolis court.

"Apart from a claim received from the UK-based charter operator following the sale of the aircraft, Sebi also emailed the receiver staking claim to the money left over after the decreed amount had been paid to Comlux.

"There were concerns raised by the court and the receiver that the claim/objection emailed by Sebi was not in proper form, it was not filed through the obligatory Mutual Legal Assistance Treaty protocols, and it was unsubstantiated."

The spokesperson further said that Sahara and Hospitality Business Ltd, however, made specific submissions in court that all residual monies must be remitted to the Sebi-administered account where Sahara had been accumulating money for compliance of the Supreme Court of India's orders.


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Expect 40% jump in AUM in current fiscal: SE Investments

SE Investments' asset under management (AUM) currently stands at Rs 961 crore versus Rs 870 crore YoY, says Sunil Agarwal, the company's managing director. He expects a 40 percent jump in AUM in the current financial year.

The asset quality of SE Investments , which focuses on small finance and works with low-income families to provide financial solutions, has been quite good on a year-on-year (YoY) basis, is the word coming in from Sunil Agarwal, managing director at SE Investments.

The company's asset under management (AUM) currently stands at Rs 961 crore versus Rs 870 crore YoY, he says. He expects a 40 percent jump in AUM in the current financial year.

Agarwal says the company will look at enhancing borrowing.

Stay tuned for more..

SE Investments stock price

On April 13, 2015, at 14:13 hrs SE Investments was quoting at Rs 369.50, down Rs 15.7, or 4.08 percent. The 52-week high of the share was Rs 537.45 and the 52-week low was Rs 180.75.


The company's trailing 12-month (TTM) EPS was at Rs 12.59 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 29.35. The latest book value of the company is Rs 118.95 per share. At current value, the price-to-book value of the company is 3.11.


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