The Union Government has withdrew its offer to sell its entire 53 per cent stake in BPCL, saying that majority of bidders have expressed their inability to participate in the current privatisation process due to prevailing conditions in the global energy market. The government had planned to sell its entire 52.98 per cent stake in Bharat Petroleum Corporation Ltd (BPCL) and invited Expressions of Interest (EoIs) from bidders in March 2020. At least three bids came in by November 2020.
Coal India informed the exchanges that it plans to sell a 25 per cent share in its unlisted subsidiary, Bharat Coking Coal Ltd (BCCL). The approval was given at a board meeting held on March 10.
Torrent Pharmaceuticals Limited has announced acquisition of four brands in the therapeutic areas of gynaecology and urology from Dr Reddy’s Laboratories. Torrent Pharma has entered into an agreement with Dr Reddy’s Laboratories Ltd to acquire Styptovit-E, Finast, Finast-T and Dynapress. According to the company, Styptovit-E is a gynaecology product having an estimated market size of ₹500 crore, as per the AIOCD data. The acquisition of this brand will further strengthen Torrent’s presence in the therapy, it said.
The board of Union Bank of India has approved raising up to ₹8,100 crore by issuing equity shares through various modes. The board has approved raising of equity capital not exceeding ₹3,800 crore, within the overall limit of Rs 8,100 crore, the bank said in a regulatory filing.
HCL Technologies, a leading global technology company, has signed an end-to-end IT services transformation agreement with the Velux Group, the leading manufacturer of roof windows. The Velux Group is one of Denmark's most prestigious brands and we are committed to supporting its digitalization journey.
Zydus Lifesciences Ltd. (formerly known as Cadila Healthcare Ltd.) has received final approval from the United States Food and Drug Administration (USFDA) to market Pemetrexed for Injection, in the strengths of 100 mg/vial,500 mg/vial, and 1000 mg/vial Single-Dose Vials. Pemetrexed is used to treat certain types of cancers such as lung cancer, mesothelioma. It is a chemotherapy drug that works by slowing or stopping the growth of cancer cells. The drug will be manufactured at Zydus Hospira. Pemetrexed for Injection has a market size of $1,236 million (as per IQVIA MAT March'22).
Aurum Proptech, formerly known as Majesco, on Thursday announced the acquisition of data analytics player Careersocially for ₹45 crore. This is a continuation of inorganic play for the BSE-listed Aurum under its new promoters and takes the overall amount committed for such acquisitions to ₹233 crore.
Diversified firm RattanIndia Enterprises (formerly Indiabulls Infrastructure and Power Limited) on Thursday said it has acquired 60 per cent stake in drone company Throttle Aerospace Systems Pvt Ltd (TAS). The investment in TAS has been done through NeoSky India Ltd (NeoSky), a wholly owned subsidiary, RattanIndia Enterprises said in a statement. However, the company did not disclose the financial details of the transaction.
Thomas Cook (India) Ltd on Thursday said the firm along with its group company SOTC Travel has signed a memorandum of understanding with Saudi Tourism Authority for tourism promotion. The collaboration intends to focus on building awareness and increasing visibility for Saudi Arabia as a destination in the high potential Indian market, the company said in a regulatory filing.
Aurobindo Pharma has announced that its wholly owned subsidiary company -- Eugia Pharma Specialties has received a final approval from USFDA to manufacture and market Pemetrexed for Injection, 100 mg, 500mg and 1000mg. The approved product is estimated to have a market size of $1272 million.
GR Infraprojects has received Interim Completion certificate for the project 'Development of Purvanchal Expressway from Sidhi Ganeshpur to Sansarpur in Uttar Pradesh on EPC basis.
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