DOMESTIC:

Infosys to buy Nordic-based Fluido for 65mn euros

Bank of India looks to raise Rs1,000cr from sale of non-core

asset

Sterlite Technologies to double its optical fibre cable solutions

capacity

Aurobindo Pharma receives approval from South African Health

Products Regulatory Authority for latest fixed dose triple

combination tablets

Dena, Vijaya, Bank of Baroda to merge to form India's 3rd

largest bank

OFS Technologies Limited Board recommends 6:10 Bonus Issue

Rites bags additional contract worth Rs436cr from Indian

Railways

Strides Pharma gets 3 observations from USFDA for Bengaluru

unit

Cognizant buys Advanced Technology Group for undisclosed

amount

SBI to sell 8 NPAs to recover dues worth over Rs3,900cr

Reliance Capital to exit all non-financial business in 12-18

months

Sun announces European approval for Tildra

Nestle, Unilever, Coke make bids in USD4bn plus GSK India

sale: report

Bharat Dynamics receives Rs9,100cr defence order

Wipro shareholders approve amalgamation with Wipro Tech

Austria Dilip Buildcon declared L-1 bidder for Metro rail project for

Rs228.96cr by Madhya Pradesh Metro Rail Co Nagarjuna Fertilizers and Chemicals Ltd extends shut down of

plant

Texmaco Rail & Engineering Ltd. - Outcome of NCLT meeting

for approval of Scheme of Merger

Board of Gufic Biosciences approved the Scheme of

Amalgamation of Gufic Lifesciences Private Limited with the

Company

Indian Hume Pipe bags order worth Rs221cr

Strides Pharma Science gets ACCC approval for merger of Arrow

and Apotex Australia

Yes Bank's Rana Kapoor falls foul of bad-debt battle

ITC acquired Park Hyatt Goa Resort and Spa

ECONOMY:

Economy will double to USD5tn by 2022, says Modi

INDUSTRY:

Telecom companies, equipment vendors fear hike in import

duties

Hospitality sector witnesses subdued growth during Q1FY19:

ICRA

Indian Pharma market grew 8.7% in August on slower off take of

anti-infectives

The week that went by:

Following the Asian markets, the Indian bourses also opened with a gap down for first day of the week. The markets opened on

a flat note with the PSU banks taking it all along. With a rebound in the Asian markets, the Indian bourses followed and opened

with a gap up for the day. The markets opened strong for last day of trade with outperformance from the Metal and Pharma

space.

Price Performance (%)

Company 1M 3M 12M

Supreme Petrochem Ltd -4.8% -12.5% -33.7%

Shanthi Gears Ltd -2.3% -1.3% -7.1%

Hind Rectifiers Ltd -10.8% -0.2% -8.1%

KCP Ltd -11.9% -13.5% -27.4%

Harita Seating System Ltd -5.4% -34.4% -23.2%

Hester Biosciences Ltd -13.4% -9.7% 6.3%

The Hi-Tech Gears Ltd 8.4% 2.4% 24.5%

Bharat Bijlee Ltd 0.1% 1.9% 11.0%

Triveni Turbines Ltd -7.2% -4.3% -22.4%

Siemens Ltd -9.9% -6.7% -33.7%

Aksh Optifibre Ltd -13.0% -12.6% 0.0%

GMM Pfaudler Ltd -5.8% 22.7% 64.7%

Alicon Castalloy Ltd 9.0% 11.3% 21.7%

Gufic Biosciences Ltd -4.1% -5.2% 54.1%

Excel Industries Ltd -3.2% 25.0% 303.5%

Vesuvius India Ltd -5.4% -9.1% -15.5%

Munjal Showa Ltd -6.5% -14.1% -23.6%

Bharat Rasayan Ltd -0.6% 17.2% 155.8%

Alkyl Amines Chemicals Ltd -6.1% -9.7% 35.0%

Grauer and Weil (India) Ltd 9.0% 13.2% -17.7%

Texmaco Rails & Engineering Ltd -7.2% -3.0% -35.7%

Nagarjuna Agrichem Ltd -15.5% 4.1% -33.1%

Simplex Infrastructures Ltd -19.0% -27.0% -27.8%

ITD Cementation India Ltd -8.9% -9.0% -28.5%

Westlife Development Ltd -14.8% -1.4% 37.2%

Federal Mogul Goetze (India) Ltd -4.2% 6.3% -15.7%

Dynamatic Technologies Ltd 1.2% -2.2% -25.0%

Hitech Corporation Ltd -31.2% -25.1% -41.5%

NRB Bearings Ltd -4.3% -7.8% 37.7%

Kokuyo Camlin Ltd 1.1% 40.0% 46.8%

Timken India Ltd -11.9% -14.1% -17.7%

Bigbloc Construction Ltd -11.7% -48.9% -11.0%

Morganite Crucible (India) Ltd 12.7% 39.3% 88.2%

Vardhman Special Steels Ltd -12.6% -5.1% -21.0%

Zen Technologies Ltd -7.9% -29.2% 42.6%

KSB Pumps Ltd -4.7% -9.8% -2.8%

Thermax Ltd -6.0% -13.7% 2.4%

Transpek Industry Ltd 1.8% 24.7% 75.9%

BASF India Ltd -5.1% -5.4% 18.9%

Artson Engineering Ltd -5.6% -14.3% -19.9%

Indian Hume Pipe Co. Ltd -6.9% 2.4% 1.7%

Engineers India Ltd -2.8% -4.3% 54.6%

TRIL -13.4% -20.6% -44.1%

Gulshan Polyols Ltd 1.7% 1.9% 255.8%

Nesco Ltd -6.2% -14.2% 336.8%

Castrol India Ltd -4.4% 80.3% -19.5%

Hikal Ltd 28.8% -22.4% -21.0%

21 Sept 2018

Please Turn Over

Recommendations adjusted as per Corporate Actions

Company Reco Target Corp Action Adj Price Adj Tgt Price Appreciation

IHP Ltd 341 600 Bonus 1 : 1. 171 600 57%

Engineers India Ltd 211 200 Bonus 1 : 1. 106 250 16%

Transformers and Rectifiers (India) Ltd 300 450 Stock Split from Rs.FV 10 to Rs.FV 1. 30 40 -39%

Gulshan Polyols Ltd 390 500 Stock Split from Rs.FV 5 to Rs.FV 1. 78 110 -24%

Nesco Ltd 2397 3200 Stock Split from Rs.FV 10 to Rs.FV 2. 479 640 -2%

Castrol India Ltd 447 550 Bonus 1 : 1 223 250 -31%

Hikal Ltd 143 325 Bonus 1 : 2 95 216 89%

Coverage Universe Valuations

Company Reco Adj Reco CMP Tgt price Upside Mcap EPS PE(x) EV/EBITDA (x)

(Rs) (Rs) (Rs) (%) (Rs bn) FY17 FY18E FY17 FY18E FY17 FY18E

IHP Ltd 341 171 269 500 86.0 13.0 20.4 14.3 13.6 19.4 7.5 10.1

Engineers India Ltd 211 106 122 250 104.4 41.2 4.8 5.0 27.3 26.4 27.1 29.3

Transformers and Rectifiers (India) Ltd 300 30 18 40 118.0 0.2 13.9 1.5 1.4 12.8 5.3 8.0

Gulshan Polyols Ltd 390 78 59 110 85.8 2.8 4.6 6.4 13.6 9.7 17.4 15.4

Nesco Ltd 2397 479 470 640 36.2 6.6 120.2 137.5 4.1 3.6 16.1 13.4

Castrol India Ltd 447 223 153 250 63.1 75.8 13.6 14.1 11.4 11.0 6.7 6.4

Hikal Ltd 143 95 180 216 19.8 14.8 5.4 5.8 35.1 32.8 14.0 12.9

Coverage Universe Valuations

Company Reco Reco at CMP Tgt price Upside Mcap EPS PE(x) EV/EBITDA (x)

(Rs) (Rs) (Rs) (%) (Rs bn) FY17 FY18E FY17 FY18E FY17 FY18E

Supreme Petrochem Ltd BUY 77 255 500 96.0 24.6 18.6 14.9 13.4 16.7 7.8 9.8

Shanthi Gears Ltd BUY 107 128 200 56.3 10.5 2.8 3.1 46.7 41.7 29.5 25.9

Hind Rectifiers Ltd BUY 69 120.3 175 45.5 1.8 -1.1 0.3 -125.4 388.1 49.5 34.9

KCP Limited BUY 71 88.15 200 126.9 11.4 2.8 6.3 33.1 14.6 10.3 8.8

Harita Seating System Ltd BUY 266 610 1150 88.5 4.7 32.4 34.5 20.1 18.9 18.4 15.4

Hester Biosciences Ltd BUY 565 1154 1750 51.6 9.8 29.2 34.2 43.1 42.5 26.8 22.8

The Hitech Gears Ltd BUY 298 448.6 600 33.7 8.4 10.9 16.5 40.8 27.3 17.5 14.5

Bharat Bijlee Ltd BUY 787 1327.2 2000 50.7 7.5 34.7 41.4 40.0 33.5 52.0 26.4

Triveni Turbines Ltd BUY 92 109.5 150 37.0 0.4 3.5 2.4 33.8 48.8 24.0 29.5

Siemens Ltd BUY 1128 927.85 1350 45.5 330.3 9.1 10.0 105.3 95.9 71.9 63.6

Aksh Optifibre Ltd BUY 15 26 45 73.1 4.2 13.9 1.5 1.4 12.8 5.3 8.0

GMM Pfaudler Ltd BUY 332 1031.1 1300 26.1 15.1 19.3 20.8 58.0 53.9 39.8 36.4

Alicon Castalloy Ltd BUY 288 659.9 750 13.7 8.1 21.4 24.1 32.8 29.0 12.3 9.8

Gufic Biosciences Ltd BUY 50 118.5 175 47.7 9.1 1.6 2.1 79.6 59.7 37.4 27.8

Excel Industries Ltd BUY 380 1722.1 2200 27.8 22.2 9.8 39.7 186.1 45.8 56.1 26.5

Vesuvius India Ltd BUY 1165 1151.1 1500 30.3 23.0 49.0 62.7 24.3 19.0 13.1 10.6

Munjal Showa Ltd BUY 191 203.5 350 72.0 8.1 14.2 14.6 15.4 15.1 9.2 8.9

Bharat Rasayan Ltd BUY 2747 7220 9000 24.7 30.3 128.9 189.3 59.4 40.4 30.5 22.1

Alkyl Amines Chemicals Ltd BUY 391 614.2 850 38.4 12.5 24.3 27.0 26.7 24.1 15.6 15.6

Grauer and Weil (India) Ltd BUY 45 56.6 100 76.7 12.8 2.3 2.3 25.1 24.3 14.2 13.8

Texmaco Rails & Engineering Ltd BUY 91 68.6 150 118.7 20.2 1.5 2.7 49.5 28.2 33.8 20.9

Nagarjuna Agrichem Ltd BUY 29 30.25 75 147.9 4.7 1.6 0.9 20.1 37.5 11.5 10.6

Simplex Infrastructures Ltd BUY 540 340.05 700 105.9 20.2 24.3 29.6 15.8 13.0 7.5 6.8

ITD Cementation India Ltd BUY 158 121 225 86.0 18.8 3.1 4.8 41.8 27.1 11.1 10.1

Westlife Development Ltd BUY 266 340 425 25.0 52.9 -0.8 0.3 -488.7 1116.7 130.1 78.5

Federal Mogul Goetze (India) Ltd BUY 540 436 750 72.0 24.3 12.9 15.7 34.0 28.0 14.1 12.8

Dynamatic Technologies Ltd BUY 2160 1651.2 3000 81.7 10.5 23.0 -9.3 44.6 -497.1 10.0 12.7

Hitech Corporation Ltd BUY 175 108 230 113.0 1.9 6.9 3.5 17.1 33.7 6.9 7.9

NRB Bearings Ltd BUY 138 168 200 19.0 16.3 5.2 5.5 32.4 30.7 17.9 17.2

Kokuyo Camlin Ltd BUY 132 137 175 27.7 13.7 0.1 0.5 1509.5 273.1 69.8 51.4

Timken India Ltd BUY 883 629 1200 90.8 42.8 14.3 15.1 45.8 43.2 28.1 24.4

Bigbloc Construction Ltd BUY 120 74.3 160 115.3 1.1 2.2 2.7 35.2 27.8 12.7 11.0

Morganite Crucible (India) Ltd BUY 1047 1950.9 2300 17.9 5.5 47.2 38.2 45.6 56.2 25.3 32.8

Vardhman Special Steels Ltd BUY 151 114.55 225 96.4 4.1 10.3 6.4 12.3 19.7 11.7 11.3

Zen Technologies Ltd BUY 115 77.15 170 120.3 6.0 0.9 0.2 84.8 369.9 51.2 140.1

KSB Pumps Ltd BUY 820 734 1100 49.9 25.5 19.5 18.8 38.7 40.0 24.3 20.1

Thermax Ltd BUY 1019 944.45 1230 30 112.5 23.3 22.1 42.3 44.6 31.4 31.6

Transpek Industry Ltd BUY 1547 1583 2000 26.3 8.8 53.7 47.3 28.8 32.7 17.7 19.9

BASF India Ltd BUY 1954 1850.9 2500 35.1 80.1 -7.2 20.3 -271.7 96.2 36.4 27.4

Artson Engineering Ltd BUY 64 58.5 95 62.4 2.2 7.4 0.4 8.7 170.6 58.3 96.6

*Castrol, Vesuvius, ITD Cementation– Dec Ending | Siemens—Sept ending|

Please Turn Over

21 Sept 2018

Recommendations adjusted as per Corporate Actions

Company Reco Target Corp Action Adj Price Adj Tgt Price Appreciation

IHP Ltd 341 600 Bonus 1 : 1 171 600 57%

Engineers India Ltd 211 325 Bonus 1 : 1 106 250 16%

Transformers and Rectifiers (India) Ltd 300 450 Stock Split from Rs.FV 10 to Rs.FV 1 30 40 -39%

Gulshan Polyols Ltd 390 500 Stock Split from Rs.FV 5 to Rs.FV 1 78 110 -24%

Nesco Ltd 2397 3200 Stock Split from Rs.FV 10 to Rs.FV 2 479 640 -2%

Castrol India Ltd 447 550 Bonus 1 : 1 223 250 -31%

Hikal Ltd 143 325 Bonus 1 : 2 95 216 89%

Coverage Performance Sheet

Company Reco at CLS Target Price (Rs) Appreciation

(Rs) (Rs) Target 1 Target 2 Target 3 Target 4 Target 5 Target 6 Target 7 (%)

Supreme Petrochem Ltd 77 255 120 150 200 275 350 500 - 231%

Shanthi Gears Ltd 107 128 150 200 - - - - - 20%

Hind Rectifiers Ltd 69 120 110 140 175 - - - - 74%

KCP Limited 71 88 105 150 200 - - - - 24%

Harita Seating System Ltd 266 610 400 600 750 900 1150 129%

Hester Biosciences Ltd 565 1154 750 875 1150 1500 2200 1750 - 104%

The Hitech Gears Ltd 298 449 450 600 - - - - - 51%

Bharat Bijlee Ltd 787 1327 1100 1500 2000 - - - - 69%

Triveni Turbines Ltd 92 110 135 150 - - - - - 19%

Siemens Ltd 1128 928 1350 - - - - - - -18%

Aksh Optifibre Ltd 15 26 24 35 45 - - - - 73%

GMM Pfaudler Ltd 332 1031 500 700 800 1000 1300 - - 211%

Alicon Castalloy Ltd 288 660 450 600 750 - - - - 129%

Gufic Biosciences Ltd 50 119 75 100 140 175 - - - 137%

Excel Industries Ltd 380 1722 550 650 800 1100 1400 1800 2200 353%

Vesuvius India Ltd 1165 1151 1500 - - - - - - -1%

Munjal Showa Ltd 191 204 250 300 350 - - - - 7%

Bharat Rasayan Ltd 2747 7220 3500 4250 5000 6500 9000 - - 163%

Alkyl Amines Chemicals Ltd 391 614 550 700 850 - - - - 57%

Grauer and Weil (India) Ltd 45 57 65 80 100 - - - - 26%

Texmaco Rails & Engineering Ltd 91 69 125 150 - - - - - -25%

Nagarjuna Agrichem Ltd 29 30 45 60 75 - - - - 4%

Simplex Infrastructures Ltd 540 340 700 - - - - - - -37%

ITD Cementation India Ltd 158 121 225 - - - - - - -23%

Westlife Development Ltd 266 340 350 425 - - - - - 28%

Federal Mogul Goetze (India) Ltd 540 436 750 - - - - - - -19%

Dynamatic Technologies Ltd 2160 1651 3000 - - - - - - -24%

Hitech Corporation Ltd 175 108 230 - - - - - - -38%

NRB Bearings Ltd 138 168 200 - - - - - - 22%

Kokuyo Camlin Ltd 132 137 175 - - - - - - 4%

Timken India Ltd 883 629 1200 - - - - - - -29%

Bigbloc Construction Ltd 120 74 160 200 160 - - - - -38%

Morganite Crucible (India) Ltd 1047 1951 1500 1750 2300 - - - - 86%

Vardhman Special Steels Ltd 151 115 225 - - - - - - -24%

Zen Technologies Ltd 115 77 170 - - - - - - -33%

KSB Pumps Ltd 820 734 1100 - - - - - - -10%

Thermax Ltd 1019 944 1230 - - - - - - -7%

Transpek Industry Ltd 1547 1583 2000 - - - - - - 2%

BASF India Ltd 1954 1851 2500 -5.3%

Artson Engineering Ltd 64 59 95 - - - - - - -9%

Please Turn Over

*Castrol, Vesuvius, ITD Cementation– Dec Ending | Siemens—Sept ending|

21 Sept 2018

Coverage Performance Sheet

Company Reco at CLS Target Price (Rs) Appreciation

(Rs) (Rs) Target 1 Target 2 Target 3 Target 4 Target 5 Target 6 Target 7 (%)

IHP Ltd 341 269 500 600 500 - - - - 57%

Engineers India Ltd 211 122 200 250 - - - - - 16%

Transformers and Rectifiers (India) Ltd 300 18 40 55 40 - - - - -39%

Gulshan Polyols Ltd 390 59 110 - - - - - - -24%

Nesco Ltd 2397 470 640 - - - - - - -2%

Castrol India Ltd 447 153 275 250 - - - - - -31%

Hikal Ltd 143 180 200 250 325 216 - - - 89%

Coverage News:

ECONOMY:

Texmaco Rail & Engineering Ltd. - Outcome of NCLT meeting for approval of

Scheme of Merger

Amalgamation of Texmaco Hitech Private Limited and Bright Power projects (India)

Private Limited into and with the company has been approved at the board meeting

held recently.

Board of Gufic Biosciences approved the Scheme of Amalgamation of Gufic

Lifesciences Private Limited with the Company

The amalgamation would provide focussed management attention, rationalization,

standardization and simplification of business processes. In consideration of the

amalgamation, Gufic Biosciences Limited shall issue and allot to every Equity

Shareholder of Gufic Lifesciences Private Limited, 24 (Twenty Four) Equity shares of

Face Value of Re. 1/- each for every 1 (One) Equity shares of Face Value of Rs10/-

each held by member in Gufic Lifesciences Private Limited.

Indian Hume Pipe bags order worth Rs221cr

The company has received letter of acceptance (LoA) for the work of Rs221.72cr from

Madhya Pradesh Jal Nigam Maryadit. It includes engineering, procurement,

construction, testing, commissioning, trial run and operation and maintenance of

various components of Indwar-l Multi Village Rural Water Supply Scheme at Umaria

and Katni. The project is to be completed within 24 months and agreement will be

signed in due course.

Our comments:

This adds to the order book of the company.

ECONOMY:

Economy will double to USD5tn by 2022, says Modi

Prime Minister Narendra Modi said the size of Indian economy would double to

USD5tn by 2022, with manufacturing and agriculture contributing USD1tn each. He

also added, the Indian economy would grow at over 8% rate with massive employment

generation being seen in IT and retail sectors. Macroeconomic fundamental of the

economy were strong.

Our comments:

The various initiatives of Make in India, GST, Bank mergers are directed towards the

bold measures taken by the government.

Please Turn Over

Corporate Development

21 Sept 2018

Weekly Sectoral Gainers & Losers in (%)

Amalgamation For Gufic

Optimistic Economy

Growth

Orders Bagged By IHP

INDUSTRY:

Hospitality sector witnesses subdued growth during Q1FY19: ICRA

The domestic Hotel industry witnessed a muted 2-3% growth in average room rates

(ARR) at Rs5,500 during Q1FY19 on improved occupancies at 63% (a 3% growth). As

per an ICRA research report on the industry, Q1FY19 was the 16th consecutive

quarter of growth in revenue per available rooms (RevPAR); the same grew by 4.5% in

Q1FY19. While demand growth of 5-5.5% was lower than expectation, muted supply

addition of 3% during Q1FY19 still reflect as improving occupancies in most markets

in India. The RevPAR during FY2018 grew by 4-4.5%.

Our comments:

As per the report, down-trading by corporate customers and higher bookings through

online travel agents (OTA) also appear to be constraining ARR growth.

Indian Pharma market grew 8.7% in August on slower offtake of anti-infectives

The Indian pharmaceutical market (IPM) grew at 8.7% in August, much slower than in

July due to lacklustre sales of anti-infective drugs, according to market research firm

AIOCD-AWACS. In July, the industry grew at the fastest past of 12.7%. The acute

segment led by anti-infectives grew at 4% in August, dermatology grew 10.2% while

respiratory segment showed single-digit growth of 5.8%.Gastro-Intestinal grew 10.3%

while vitamins grew 9%. Chronic therapies like anti-diabetes rose 14%, Cardio 12.5%

and Central Nervous System (CNS) at 8.9%.

Our comments:

IPM grew close to 10% in first five months of FY19, returning to the 10% growth of

FY17.

COMPANY:

Infosys to buy Nordic-based Fluido for 65mn euros

Infosys agreed to buy Fluido, a sales force consulting partner in the Nordics, for as

much as 65 million euros, as it focuses on boosting its cloud business. The company

said the purchase price include earn-outs, management incentives and bonuses.

Our comments:

This acquisition demonstrates Infosys’ commitment to the sales force ecosystem to

address client’s digital priorities. This acquisition also aligns efforts to invest in local

capabilities in the regions, in which it operates.

Dena, Vijaya, Bank of Baroda to merge to form India's 3rd largest bank

Three state-run banks, Dena Bank, Vijaya Bank and Bank of Baroda will be merged to

create the third-largest bank in the country, as indicated by the government, as part of

efforts to clean up the country's banking system. The government will continue to

provide capital support to the merged entity. The announcement comes as the country's

banking sector grapples with Rs8.99lakhcrore worth non-performing assets or NPAs.

The government expects that the process of amalgamation would be completed by the

end of this financial year. The three banks will continue to function independently till

the merger

Our comments:

Bank lending was becoming weak, hurting corporate sector investments, was one of

the reasons cited for the merger.

Rites bags additional contract worth Rs436cr from Indian Railways

Rites has been executing a project of Indian Railways for setting up of wagon

workshop at Dalmianagar for which the initial contract cost was Rs89cr. The enhanced

scope and revision in estimates has resulted in additional contract value of Rs436cr.

The work is scheduled to be started in the last quarter of this financial year.

Our comments:

This is an add on to the order book of the company, adding to the conviction in the

working of the company.

21 Sept 2018

Infosys To Buy Fluido

Slower Growth Witnessed

Please Turn Over

Subdued Growth In

Hospitality

Bank Mergers Initiated

Order For Rites

Strides Pharma gets 3 observations from USFDA for Bengaluru unit

The formulations facility in Bangalore of the company recently underwent

pre-approval product inspection by the USFDA. The inspection had ended on August

25, 2018 and the company has been issued Form 483 with 3 observations.

Our comments:

The company believes that the observations are not material in nature and it has

already responded to the USFDA.

L&T wins contracts worth Rs2,048cr

Larsen & Toubro (L&T) said its construction arm has won contracts worth Rs2,048cr

across two business segments. Power transmission and distribution business of L&T

Construction has bagged orders worth Rs1,633cr in the domestic market. The business

has secured a major order for a Main Plant Electrical Package of units 3 & 4 of the

Kudankulam Nuclear Power Project.

Our comments:

This adds to the order book of the company.

Sun announces European approval for Tildra

Sun Pharma announced that the company's partner Spanish drug maker Almirall, has

received the approval from European drug regulators for its psoriasis drug

Tildrakizumab (brand name Ilumetri in Europe). Tildra branded as Ilumia in the US is

a biologic drug administered subcutaneously and is used to treat moderate-to-severe

psoriasis. Sun will be vying for its share in the USD9bn market.

Our comments:

This European approval for Sun Pharma comes just few days after the company

received the approval for its eye care drug Xelpros, giving the confidence that despite

the inspections by regulators of its plants in the last few weeks, there is no cause for

worry.

21 Sept 2018

European Approval For

Tildra

Order Won By L&T

Observations From US-

FDA

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