Coal India Ltd has increased the prices of its high-grade coal by 8 per cent, the company said in a regulatory filing. This is the first time since 2018 that the coal miner has revised its coal prices. The Board of Directors of CIL at its meeting on May 30 approved the revision of non-coking coal prices from May 31. The Board has approved the price increase of 8 per cent over the existing notified prices for high-grade coal of grade G2 to G10. This will be applicable to all subsidiaries of CIL, including NEC for regulated and non-regulated sectors, the state-owned company said in its filing.
Aureus Investment, promoter of Sona BLW Precision Forgings, is likely to sell up to 3.25 per cent equity worth ₹950 crore at ₹500 per share according to media reports. Aureus Investment held a 33 per cent stake in Sona BLW at the end of the March 2023 quarter.
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Abrdn (Mauritius Holdings) 2006 Limited is likely to sell its entire stake 3.66 per cent stake in HDFC Life Insurance via block deals. The stake sale is likely to take place in the price range of ₹563.20-585.15 per share, according to media reports.
Lupin has announced a strategic collaboration with Enzene Biosciences to launch Cetuximab in India, the first biosimilar developed for Cetuximab. Cetuximab has received approval from the Drug Controller General of India for treating head and neck cancer, particularly Squamous Cell Carcinoma of the head and neck. Cetuximab is available as a 100mg vial.
Keki Mistry has expressed the desire not to be re-appointed as non-executive director of HDFC Asset Management Company, and will retire after the AGM on June 26.
The board of Axis Bank has appointed former RBI deputy governor NS Vishwanathan as additional director for four years, up to May 29, 2027.
Aurobindo Pharma has received tentative new drug application approval from USFDA for HIV drugs Dolutegravir, Entricitabine and Tenofovir Alafenamide tablets.
Sun Pharmaceuticals Industries has received approval from China’s National Medical Products Administration for its new drug application of tildrakizumab injection used to treat moderate-to-severe plaque psoriasis.
Three promoters of Kalpataru Power Transmission have offloaded shares worth ₹467.83 crore via open market transactions. Kalptaru Constructions sold 10 lakh shares in the company at an average price of ₹485.13 a share, Parag Mofatraj Munot offloaded 73.24 lakh shares at ₹485.75 a share and Kalpataru Viniyog LLP sold 13.1 lakh shares at ₹485.06 a share.
However, ICICI Prudential Mutual Fund through its ICICI Prudential Equity & Debt Fund bought additional 14.95 lakh shares in Kalpataru at an average price of ₹485 a share as ICICI Prudential Value Discovery Fund held a 7.96 per cent stake or 1.29 crore shares in the company as of March 2023.