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UTI Mutual Fund to sell 26% stake by August
The country"s oldest fund house, UTI Asset Management Company (AMC), today said it will divest 26 per cent stake to a strategic partner by August this year.

Black Rose owner ran two ships in same name: CID
The mystery surrounding Black Rose, the Mongolian ship which sank near Paradip port a couple of months back, appear to be unfolding gradually with the officials of the Criminal Investigation Department (CID) unearthing some vital facts in their probe.

News of the day

Rolls-Royce scouts for second partner
Rolls-Royce is looking to add a second engineering and design services firm in India to cater to its design requirements. Under the government’s $10-billion defence programme, Rolls-Royce has a commitment to offset 50 per cent of its research and development requirements to Indian design companies.
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Aurobindo gets tentative nod for anti-dementia drug

Aurobindo Pharma Limited, a Hyderabad-based manufacturer of generic pharmaceuticals and active pharmaceutical ingredients (APIs), has received tentative approval for donepezil hydrochloride tablets in 5mg and 10mg strengths from the US Food and Drug Administration (US FDA). The product has a market size of over $1.9 billion. - Aurobindo gets USFDA nod for two new drugs - Aurobindo Pharma gets USFDA approval for CVS drug - Aurobindo sues S African govt over AIDS drug contract - Aurobindo Pharma gets TGA Australia nod for nerve drug - Aurobindo Phrama gets USFDA nod for veterinary drug - Aurobindo expands pact with Pfizer Donepezil hydrochloride tablets 5mg and 10mg, the generic equivalent of ‘Aircept’ tablets of Eisai Medical Research Inc, are indicated for the treatment of mild, moderate and severe dementia of the Alzheimer’s type and fall under the central nervous system (CNS) therapeutic segment. With this tentative nod, Aurobindo now has 99 abbreviated new drug application (ANDA) approvals from the US FDA, the company said in a press release on Wednesday. The scrip of Aurobindo is currently trading at Rs 540 on the BSE, down 1.37 per cent as against the previous close of Rs 547.50.


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