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BUSINESS

Torrent Pharmaceuticals redeems NCDs worth Rs 500 crore

Torrent Pharmaceuticals has fully redeemed the Unsecured Redeemable Non-Convertible Debentures (NCDs) of Rs 500 crore. The company has repaid the same on November 29, 2018. Torrent Pharmaceuticals is Flagship Company of the Torrent group, a leader in cardiovascular and central nervous system segments. It also has presence in gastro-intestinal, diabetology, ... Read More »

Paul Merchants increases stake in Paul Merchants Finance

Paul Merchants has increased its stake in Paul Merchants Finance (PMFPL) on November 29, 2018, from 96.87% to 100% by acquiring further 8,43,517 Equity Shares from its existing shareholder Sat Paul Bansal at a price of Rs 48.81 per Equity Share which includes a premium of Rs 38.81 per Equity ... Read More »

SBI to sell 4% stake of SBI General Insurance

State Bank of India (SBI) has given approval for the sale of 4% stake in SBI General Insurance for Rs 482 crore to two alternative investment funds (AIFs). The executive committee of the Bank at its meeting held on November 29, 2018, approved the sale of 86.2 lakh shares of ... Read More »

Tata Motors’ arm invests in WeTrip

Tata Motors’ wholly owned subsidiary — Jaguar Land Rover (JLR) — has made investment in WeTrip, a London-based digital platform for holiday planning and booking. WeTrip will be utilizing these funds to accelerate product development and support global growth plans. Tata Motors is India’s largest automobile company. Through subsidiaries and ... Read More »

Zuari Agro Chemicals resumes operations of Urea plants

Zuari Agro Chemicals has resumed operations of Urea/Ammonia/ Utilities Plants of the company and urea production is expected to begin on December 6, 2018. Zuari Agro Chemicals is one of the leading fertilizer conglomerates in India. The company produces high-quality complex fertilizers of various grades along with seeds, pesticides, micro ... Read More »

Oriental Hotels terminates MoU with Dodla International

Oriental Hotels has entered into an agreement with Dodla International (DIL) in respect of termination of the Memorandum of Understanding (MoU) between the Company and DIL. The MoU pertains to the licensing arrangement of the Hotel unit at Trivandrum. The termination will be effective from April 01, 2019. Consequent to ... Read More »

Lupin launches generic Nystatin and Triamcinolone Acetonide Cream

Lupin has launched Nystatin and Triamcinolone Acetonide Cream USP 100,000 units/gm; 0.1%, having received an approval from the United States Food and Drug Administration (USFDA) earlier. Nystatin and Triamcinolone Acetonide Cream had annual sales of $54.3 million in the US as per IQVIA MAT September 2018. The company’s Nystatin and ... Read More »

Allahabad Bank planning to raise Rs 3054 crore

Allahabad Bank is planning to raise equity capital of the Bank by an amount aggregating upto Rs 3054 crore through preferential allotment of new equity shares of the Bank to the Government of India against their capital infusion. The Board of Directors of the Bank at its meeting will be ... Read More »

AU Small Finance Bank raises capital worth Rs 500 crore

AU Small Finance Bank has raised Tier II capital of Rs 500 crore in the form of Unsecured, Subordinated, Rated, Listed, Redeemable Non-Convertible Bonds through Private Placement basis to further strengthen its Capital Adequacy (CRAR) position. The aforesaid issue attracted strong interest from diversified base of marquee institutional investor and ... Read More »

TVS Motor launches TRU4 KRAAFT engine oil in association with IOCL

TVS Motor Company has launched new engine oil, ‘TRU4 KRAAFT’ for the Indian market. ‘TRU4 KRAAFT’ is a semi synthetic engine oil, which has been introduced in association with Indian Oil Corporation (IOCL). The TRU4 KRAAFT boasts of a well-balanced engine oil formulation and aims to enhance the smoothness of ... Read More »

Chambal Fertilisers commences Urea production at Rajasthan plant

Chambal Fertilisers & Chemicals has commenced production of 1.34 Million MT of Urea per annum on trial basis at the existing site at Gadepan, District, Kota, Rajasthan (Gadepan-III Plant). Chambal Fertilisers & Chemicals is one of the largest private sector fertilizer producers in India. It has three divisions catering agri ... Read More »

Cupid bags order worth Rs 25.23 crore

Cupid has received an order through Tender Bidding process to supply of Male Condoms worth Rs 25.23 crore to Central Medical Services Society, Government of India. Cupid manufactures and markets varieties of male and female condoms, water based lubricant, latex dental dams and probe covers. Cupid has a diverse product ... Read More »

Biocon, Mylan’s joint product Fulphila gets approval in EU

Biocon and Mylan’s jointly developed Fulphila, a biosimilar Pegfilgrastim, has been approved in EU. The European Commission has granted Marketing Authorization for Fulphila to the company’s partner Mylan. The European Medicines Agency’s Committee for Medicinal Products for Human Use (CHMP) had issued a positive opinion recommending approval of Fulphila as ... Read More »

OFS Technologies to foray into business of Aquaculture, Agriculture

OFS Technologies is planning to foray into business of Aquaculture and Agriculture along with the existing business of Software development. The Board of Directors of the company at its meeting to be held on December 05, 2018 to consider the same. OFS Technologies is a software development and information technology ... Read More »

Bajaj Finance raises Rs 788.40 crore via NCDs

Bajaj Finance has raised Rs 788.40 crore through Non-Convertibles Debentures (NCDs). The Debenture Allotment Committee of the company at its meeting held on November 30, 2018 allotted 7884 Secured redeemable NCDs of face value of Rs 10 lakh each. The tenure of the instrument is 1222 days and the date ... Read More »

Sandhar Technologies inks JV agreement with Kwangsung Corporation

Sandhar Technologies has signed a Joint Venture (JV) agreement with Kwangsung Corporation, Republic of Korea. The joint venture is being established for manufacturing and selling, inter-alia, interior and exterior parts plastic moulded parts and accessories for the passenger and utility vehicles segment which would include Sunvisor, Cargo Screen, Black-Out Tape, ... Read More »