Good Morning !!!

Sensex - 19246 (+0.12%), Nifty - 5822 (+0.15%)

Dow -15112 (-1.35%), S&P - 1629 (-1.39%)

Nikkei - 13101 (-1.08%)

Ranbaxy fined Rs.80crs for anti-competitive pact

• European Commision levied a penalty of  €1,03,23,000 on Ranbaxy for delaying the marketing of its generic version of depression drug citalopram made by Danish company Lundbeck.
• In 2002, Lundbeck agreed with each of these companies to delay the market entry of cheaper generic versions of its branded citalopram, a blockbuster anti-depressant. These agreements violated EU anti-trust rules that prohibit anti-competitive agreements.
• Ranbaxy has decided to appeal against EU ruling as it believes that EU decision is based on misrepresentation of the facts.

Exide to be badly hit on rupee depreciation and falling OE demand

• P.K. Kataky, Managing Director and CEO told Business Line that Exide would be badly hurt by sharp depreciation in rupee as 50% of raw materials is imported.
• OEMs have cut their demand by 10% which would lead to lower capacity utilization. Exide derives 60% of sales from OEs and hence would be badly impacted due to lower  utilization and inability to pass raw material price hike to OEMs

Tata Motors unveils 8 refreshes and chalks out 2020 game plan for Cars

• Tata Motors unveiled 8 newly upgraded and enhanced products, across 5 brands
• Indigo eCS - significant changes in interiors as well exteriors
• Sumo Gold - refined engine; dual A/C cooling, USD connectivity
• Nano - indbuilt music system, 
• Indica - new transmission and suspension, dual tone interiors and exterior graphics
• 3 CNG  Variants  of Indigo, Indica and Nano
• Safari Chrome Explorer Edition - enhanced accessories 
• Also announced was HORIZONEXT, a four pronged customer centric strategy
• Intense product focus
• Focus on world-class manufacturing practices
• Enriched customer purchase experience
• Consistent quality of service
• HORIZONEXT will come up with a product pipeline till 2020 to rejuvenate the dyeing passenger car business 

"In the corporate world, if you have analysts, due diligence, and no horse sense, you've just described hell." -- Charlie Munger