Stocks

Company news

| Updated on January 16, 2018 Published on October 26, 2016

Aurobindo Pharma has received approval from the US FDA for its generic of Actonel tablets, and ethinyl estradiol tablets, according to data on the US regulator’s website. The approval for the generic of Actonel or risedronate sodium tablets is for 150-mg strength. The drug is used to treat bone-related diseases such as osteoporosis. The ethinyl estradiol tablet is a combination hormone medication used to prevent pregnancy. Shares of Aurobindo Pharma were down 2.21 per cent at ₹806 on the BSE.

Suzlon Energy on Wednesday said it would sell 49 per cent stake in its special purpose vehicle (SPV) Prathamesh Solarfarms to Ostro Energy Pvt Ltd for a cash consideration of ₹49 crore. Suzlon Energy and Delhi-based Ostro Energy had set up the SPV for development and construction of a 50-MW solar project in Telangana. The project is expected to be commissioned in 2016-17 (April-March), and will be funded by 75 per cent debt and 25 per cent equity. Shares of Suzlon Energy rose 0.34 per cent at ₹14.70 on the NSE.

The board of JK Lakshmi Cement on Wednesday approved the issue of non-convertible debentures of up to ₹500 crore, in one or more tranches from time to time, on private placement basis. The company will seek shareholders’ approval for the fund-raising plans. The stock of JK Lakshmi Cement slipped 2.4 per cent at ₹488.45 on the NSE.

Published on October 26, 2016
This article is closed for comments.
Please Email the Editor