The board of Cipla has approved the transfer of the generics business on a slump sale basis to a wholly owned subsidiary Cipla Pharma & Life Sciences for ₹350 crore. The generics business contributes 9.95 per cent of its standalone sales. The generic market is expected to grow at a fast pace and the company is one of the largest players in this space. The transfer will help increase investments in new launches, deepen penetration in tier 2-6 towns and improve patient access through high quality generic medicines.

Market reports suggest that Bajaj Finance is looking to raise up to ₹8,800 crore through QIP and the indicative price is likely at ₹7,250/share.

Dynacons Systems & Solutions Limited has incorporated an associated company Cybercons Infosec Private Limited on November 6 that will be engaged in Cybersecurity and SOC Service.

Bata India has announced a licensing and manufacturing deal with Authentic Brands Group (Authentic), a global brand development, marketing and entertainment platform, for lifestyle brand Nine West. The partnership is aimed at further enhancing Bata India’s premium product portfolio and catering to the demands of consumers seeking trend-right fashion.

Dynamatic Manufacturing Limited, a leading aerospace manufacturing company, signed a contract with Airbus. The contract involves Dynamatic Manufacturing Limited becoming a partner in the manufacturing of detail parts for all Airbus programs.

Market regulator SEBI has revoked the directions issued vide its interim order dated January 24, 2022, and Confirmatory Order dated May 27, 2022, in respect of Udit Todi, Executive Director of Lux Industries and all the remaining 13 Entities as described in the order with immediate effect. The regulator had barred 14 entities from indulging in insider trading and ordered impounding ill-gotten gains of Rs 2.94 crore in the matter. 

Solar Active Pharma said a fire incident occurred at its Pondy facility on November 4. Out of the 76 blocks, recovery block no-40 and Special Product Packing and warehouse block no-12 were impacted. The resultant fire caused injuries to 14 operators/ contract workers. In terms of business continuity, the facility manufactures Ibuprofen and with the recent approvals from regulators and certain key customers. It does not anticipate any impact on our business.

Board of Director NHPC had approved the Joint Venture Agreement for formation of JV between NHPC and Andhra Pradesh Power Generation Corporation Limited.

Supriya Lifescience signs agreement with Kalinga Institute of Technology for further development of GelHeal, a protein-based cross-linked Hydrogel 

Results Calendar: Alkem Laboratories, Anupam Rasayan India, Alembic Pharmaceuticals, Apollo Tyres, Balrampur Chini Mills, Cochin Shipyard, CRISIL, Cummins India, Dilip Buildcon, Devyani International, Ideaforge Technology, Indian Railway Catering and Tourism Corporation, Jyothy Labs, Info Edge (India), Power Grid Corporation of India,Updater Services, Shree Cement, Zaggle Prepaid Ocean Services, and Zydus Lifesciences 

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