Bajaj Auto has announced the company had achieved 100% production between the Chakan plant in Pune and the Waluj plant in Aurangabad. According to the company, on Monday, around 757 workers had reported to work at the Chakan plant. The company would be producing 2,000 vehicles at the plant. Another 1,100 Pulsars were produced at Waluj. This takes the total production to 3,100 bikes. This is what the company was making before the workers went on strike at the Chakan plant on June 25, 2013. The company said 100% of its requirement of all brands of the Pulsar, Avenger and KTM has been achieved. Meanwhile, the Pune Industrial and Labour Court postponed the hearing of the petition filed by Bajaj Auto against the union to Tuesday, July 23, as the judge was not available on Monday.

Crisil reaffirms ?AA? on TPL, downgrades debt outlook

Credit rating agency Crisil has reaffirmed its ?AA? rating on Torrent Power (TPL) and revised its rating outlook on the debt programme and bank facilities of TPL from ?stable? to ?negative?. The rating on the company?s short-term bank facilities and debt programme has been reaffirmed at A1+. ?The outlook revision reflects higher-than-anticipated delay in recovery of the elevated power purchase costs, which would continue to exert pressure on TPL’s credit risk profile over the medium term. The rating may be downgraded if the recovery of the power purchase costs is delayed by more than expected as per Multi Year Tariff Regulations or if there is further deterioration in profitability due to higher-than-expected underrecovery,? says the Crisil report.

Lupin receives US FDA nod for diabetes drug

Lupin on Monday said its US subsidiary, Lupin Pharmaceuticals, Inc has received final approval for its anti-diabetic Metformin Hydrochloride extended release tablets

(HCl ER) 500 mg and 1000 mg from the US Food and Drugs Administration (FDA). Lupin believes it is the first applicant to file an ANDA for Glumetza HCL ER Tablets, 500 mg & 1000 mg strengths and as such will be entitled to 180 days of marketing exclusivity. Glumetza HCl ER tablets, 500 mg and 1000 mg had US sales of approximately $144 million, for the 12 months ending March, 2013 (IMS Health data).

RINL likely to prune stake in Afghainstan project

State-owned Rashtriya Ispat Nigam (RINL) has decided to prune stake in the $11-billion steel project in Afghanistan, the biggest investment proposal by a pack of seven Indian steel firms abroad, citing delay and uncertainty hovering over the venture. RINL, which has a 18% stake in the SAIL-led consortium, Afghan Iron and Steel Consortium (AIFSCO), has decided to

trim its stake to ?as low as it can? in

the project.