DSIJ.in JULY 8 - 21, 2019 I DALAL STREET INVESTMENT JOURNAL (^31)
NCC Strengthens Order Book By 358.9 Crore In June H yderabad-based construction company NCC made a stock exchange filing notifying about its fresh order book for the June 2019. The company received two new orders totalling to358.9 crore, excluding GST, in the month of June
2019, said the company in a filing to the exchange. Of these, one order worth 163.8 crore is for its Roads Division while the second order worth195.1 crore is for the
company's Electrical Division. These orders are from state government agencies and
do not include any internal orders.
The company was recently in news after reports that the Andhra Pradesh government
has proposed to cancel some of the contracts which were awarded NCC. The
company had clarified that even if this happens, the company only faces a risk of
losing around 6,100 crore while its order book is worth41,197 crore. This order
book will help the company maintain a turnover similar to that of last fiscal in FY20.
Cyient Denies Developing Flight Test Software For Boeing
I
ndian software engineers are being held response for faults in coding software of
flight-test equipment for Boeing's 737 Max aircraft. Two Indian IT firms HCL tech
and Cyient have partnerships with Boeing.
US-based publications claimed that HCL Technologies and Cyient were involved in
developing flight-display software and flight-test equipment for Boeing. The inaccuracy
of these software code are cited as one of reasons for the issues faced by the failure of the
Maneuvering Characteristics Augmentation System (MCAS) deployed in 737 Max
aircraft. Failure of Boeing's MCAS is linked to two fatal crashes of 737 Max in October
2018 and March 2019.
However, Boeing has denied that neither HCL Tech nor Cyient were involved in
development of MCAS. Similarly, in a statement to the exchanges, Cyient has refuted
claims that the company was involved in development of Boeing 737 MAX's software
systems.
Ahluwalia Contracts Wins Contracts Worth 262.23 Crore T he leading construction company has secured an order inflow of262.23 crore for
FY19-20, as of the end of June. The new order wins are for construction of
institutional, commercial complexes including electrical, plumbing and
firefighting works.
Ahluwalia Contracts (India) announced that the company has secured new orders
aggregating to 262.23 crores for building institutional and commercial complexes and scope of work includes electrical, plumbing and firefighting services. Of these, new orders of130 crore are for the construction of Amity University in Mohali, Punjab and worth
132.23 crores for other construction work. The company is also expecting a project valued around874 crore in which is has secured L1 status.
Ahluwalia Contracts is an integrated construction company with expertise in buildings
residential and commercial project, hotels, hospital and medical colleges. The company
has more than 45 ongoing projects across 23 cities in 9 states. The company focuses on
government projects with a continuous reduction of exposure to private sectors.
Alembic Pharma Bags
USFDA Approval For
Febuxostat Tablets
A
lembic Pharmaceuticals Limited
has received USFDA approval for
its Abbreviated New Drug
Application (ANDA) Febuxostat Tablets,
40 mg and 80 mg.
The approved ANDA is therapeutically
equivalent to the reference listed drug
(RLD) Uloric Tablets, 40 mg and 80 mg,
of Takeda Pharmaceuticals USA, Inc.
(Takeda).
Febuxostat Tablet is a xanthine oxidase
(XO) inhibitor indicated for the
management of chronic hyperuricemia
in adult patients with gout who have an
inadequate response to a maximally
titrated dose of allopurinol, who are
intolerant to allopurinol, or for whom
treatment with allopurinol is not
advisable. Febuxostat Tablet is not
recommended for the treatment of
asymptomatic hyperuricemia.
Alembic had previously received
tentative approval for this ANDA.
Alembic now has a total of 98 ANDA
approvals (87 final approvals and 11
tentative approvals) from USFDA.
According to IQVIA, Febuxostat Tablets
have an estimated market size of US$
578 million for twelve months ending
December 2018.
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