The US FDA had conducted inspection at Sun Pharmaceutical Industries Limited’s Mohali (Punjab) facility from August 3 to August 12, 2022. The US FDA had classified the inspection as “Official Action Indicated” (OAI). The Company has received a letter titled “Consent Decree Correspondence/Non-Compliance Letter” from the US FDA. The food regulator has directed the Company to take certain corrective actions at the Mohali facility before releasing further final product batches into the US. The company is taking the required corrective steps, but there will be a temporary pause in the release of batches from Mohali until US FDA-mandated measures are implemented. US shipments from Mohali will resume once these measures are in place.
Wipro said its board will meet on April 27 to consider a proposal to buy back equity shares along with quarterly and FY23 results.
HDFC Bank and Axis Bank have separately executed definitive agreements on April 21, 2023, to invest an amount of up to ₹69.90 crore each in Go Digit-Life Insurance Limited in two tranches, subject to the terms set out in the definitive agreements.
The board of Ami Organics has approved the acquisition of a 55 per cent partnership interest in Baba Fine Chemicals, a fine speciality chemicals company focused on the custom synthesis and manufacturing of intermediates. This acquisition heralds AMI Organics’ foray into the high entry barrier semiconductor industry.
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Shareholders of Kotak Mahindra Bank have approved the appointment of Uday Kotak as a Non-executive, Non-independent Director of the private sector lender. Ninety-nine per cent of shareholders voted in favour of the resolution to appoint Kotak as a Non-Executive Director. Uday Kotak’s current term as MD and CEO of Kotak Mahindra Bank is set to end in December 2023
SEBI has approved the proposed change of controlling stake in HDFC AMC to HDFC Bank as part of the scheme of amalgamation. This approval will help pave the way for the merger of HDFC into HDFC Bank, expected to be finalised by the third quarter of the next financial year.
Shree Digvijay Cement Company Limited has received Environmental Clearance (EC) from the Ministry of Environment, Forest and Climate Change (Impact Assessment Division), for capacity expansion of existing facilities. The Cement Plant capacity is being increased from 1.20 tap to 3 tpa. The clinker plant capacity will be increased to 2.21 tap from 1.10 tpa. The capacity of power generation from waste heat will be 8.50 MW.
Maharashtra Seamless Limited has received an order from ONGC Limited with basic value of ₹262 crores approx. for the supply of seamless tubing pipes and accessories. Delivery locations are Gujarat, Rajasthan, West Bengal, Assam and Tripura as required by ONGC Ltd.
Dalmia Cement (Bharat) Limited (DCBL), wholly owned material subsidiary of Dalmia Bharat Limited, has commenced commercial production at its second cement line at Bokaro, Jharkhand Cement Works (JCW2), with capacity of 2.5 mt. With addition of this line 2 at JCW2, total cement capacity of DCBL and its subsidiaries has been enhanced to 41.1 mt.
Heranba Industries Ltd has received six CIB registrations between March-April 2023. Ajit Gujral, Head - Strategic Development for the Crop Protection Business of Heranba Industries, said these registrations are part of our strategy to launch five new products out of the Sarigam technical plant. These products would be launched in both technical and formulations segments. Approvals for formulations are already in place with the company.
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The North Central Railway has issued a Supplementary Agreement for NCR/Kavach A&B Tender to Letter of Acceptance (LOA) issued to Kernex-/(EC Consortium for the project viz, ‘Provision of KAVACH (Train Collision Avoidance System), on North Central Railway. Provision of Kavach (Train Collision Avoidance System) along with 48 fibre OFC as a backbone on Chipayana Buzurg (Excl) Kanpur (Excl) Section on North Central Railway - ₹268.90 crore.
The board of Gujarat Industries Power Company Limited has considered/approved the procurement of Imported Coal for 500 MW Surat Lignite Power Plant (SLPP) and deliberation of EPC Contract for Pooling Sub-station -2 (PSS-2) of Solar / Wind / Hybrid RE Park of 2375 MW capacity at Khavda, Great Rann of Kutch, Gujarat.
Goldstone Technologies Limited (GTL) is setting up a Joint Venture Company partnering with German e-mobility major, Quantron AG. The JV will operate out of Augsburg, in Germany and from Hyderabad, with plans to set up a US entity in Q3 2023. The JV company operating out of Germany will be focusing on providing various solutions through an AI supported platform. GTL and Quantron, by developing this platform will be serving a market, which is under serious requirement of sustainable integrated solutions for mobility and logistic companies for their fleet management solutions.
Shree Yogi Realcon Private Limited, a 100% subsidiary of Ajmera Realty & Infra India Limited, has acquired a land parcel admeasuring 5017 sq. mt. from Tata Communications Limited in a bidding process for a total consideration of ₹76 crores, on payment of earnest money. The acquisition is intended for the residential development offering 1/2/3 BHK, with an estimated gross sales value of ₹550 crores.
Results Calendar: Bharat Immunological, Century Textiles, Eimco Elecon, Goyal Aluminium, IIFL Securities, IndusInd Bank, Mahindra Logistics, Maharashtra Scooter, Nelco, Persistent Systems, Tamilnad Mercantile Bank, and Tata Teleservices (Maharashtra)