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BUSINESS

NBCC inks pact with Health and Family Welfare to buy out HSCC

NBCC (India) and Ministry of Health and Family Welfare have signed the Share Purchase Agreement on November 06, 2018 for the transfer of 100% share holding of HSCC to NBCC. NBCC (India) is one of the few public sector companies engaged in the business of project management consultancy services for ... Read More »

Indian Bank raises Rs 110 crore via bonds

Indian Bank has successfully raised further Rs 110 crore under Basel III Compliant Tier 2 Bonds on November 06, 2018, with a coupon rate of 8.85% p.a., tenor at 10 years and call option after completion of 5 years, on private placement basis. The rating agency, CRISIL assigned ‘AAA/Stable’ rating ... Read More »

Aries Agro planning for divestments

Aries Agro is planning for divestment by the Subsidiary Golden Harvest Middle East FZC, UAE from the Step Down Subsidiary Amarak Chemicals FZC, UAE. The meeting of the Board of Directors of the company will be held on November 14, 2018, to consider the same. The company is also planning ... Read More »

RPP Infra Projects bags order worth Rs 52.7 crore

RPP Infra Projects has bagged order from Government of Jharkhand (Drinking Water & Sanitation Department) for worth of Rs 52.7 crore. RPP Infra Projects is one of the India’s leading and fast growing Non Metro/Rural based company located at Tamil Nadu and engaged in the business of infrastructure development such ... Read More »

Govt to infuse Rs 3054 crore in Allahabad Bank

Allahabad Bank has received a communication from the Government of India, Ministry of Finance, Department of Financial Services regarding fresh capital infusion of Rs 3054 crore towards contribution of the Central Government in the preferential allotment of equity shares (Special Securities/Bonds) of the Bank during the financial year 2018-19, as ... Read More »

Sambhaav Media commences operations of FM Radio Station at Jamnagar

Sambhaav Media has commenced operations of yet another FM Radio Station on November 06, 2018, at Jamnagar (91.9 MHz). With this total 7 stations have been operationalized. Recently, the company had commenced operations at another FM Radio Station at Mehsana (92.7 MHz). Sambhaav Media is engaged in the business of ... Read More »

M&M acquires entire stake in Mahindra Automotive Mauritius

Mahindra & Mahindra (M&M) has acquired 100% stake in Mahindra Automotive Mauritius on November 06, 2018. M&M is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. ... Read More »

JSW Steel reports crude steel production of 14.47 LT in October

JSW Steel has reported Crude Steel production at 14.47 lakh tonnes (LT) for October 2018, registering a growth of 8% over corresponding month of previous year. The production of rolled products (long) increased to 3.46 LT in October 2018 as compared to 2.58 LT in October 2017, representing a growth ... Read More »

Maruti Infrastructure bags order worth Rs 45.68 crore

Maruti Infrastructure has been awarded the tender for construction of 973 EWS Residential including internal infrastructure & development work as approved by Standing Committee, Ahmedabad Municipal Corporation, Ahmedabad, Gujarat. The tender project cost is Rs 45.68 crore. Maruti Infrastructure is presently engaged in the business of construction and estate development ... Read More »

Mphasis’ arm acquires Stelligent Systems

Mphasis’ wholly owned subsidiary — Mphasis Corporation has acquired Stelligent Systems, LLC a US based, DevOps, continuous integration and continuous development, service provider in Amazon Web Services (AWS), for consideration up to $25 million consequent to signing a definitive agreement on November 08, 2018 regarding the acquisition. Mphasis is a ... Read More »

Strides Pharma Science’s arm enters into agreement with SUDA Pharma

Strides Pharma Science’s step-down wholly owned subsidiary — Strides Pharma Global Pte, Singapore has entered into an exclusive product development, licensing and supply agreement with SUDA Pharmaceuticals for its novel drug SUD-001H, an oral spray of sumatriptan to treat migraine headache for the US market. Execution of Strides’ generic product ... Read More »

Glenmark Pharma to launch phase 1 trial in solid tumors for GBR 1342

Glenmark Pharmaceuticals is planning to launch a Phase 1 trial in solid tumors for its CD38xCD3 bispecific antibody GBR 1342. The decision is driven by recent findings derived from a non-interventional human study utilizing a clinically validated CAN script platform. GBR 1342 is based on Glenmark’s proprietary BEAT platform and ... Read More »

CG Power inaugurates fully integrated 400kV Mobile Substation

CG Power and Industrial Solutions (CG) through its wholly-owned step down subsidiary CG Holdings Belgium NV based at Mechelen, Belgium has inaugurated world’s first mobile substation operating at a voltage level of 400kV. With this world record, CG in Belgium further confirms its position as world’s leading pioneer in the ... Read More »

Welspun Enterprises receives LoA from PWD

Welspun Enterprises has received the Letter of Award (LoA) from PWD, Government of Maharashtra for Up-gradation of Roads/ Two Laning of Roads/ Two Laning of Roads with paved shoulder under MRIP Package on Hybrid Annuity Mode (HAM) Package number AM 2 Under Public Works Circle, Amravati in Maharashtra State. The ... Read More »