TOP CORPORATE NEWS
Glenmark
gets tentative USFDA approval for epilepsy drug
Glenmark
Pharma Arm Glenmark Generics has received US FDA’s tentative
approval for epilepsy drug Rufinamide. The market size of the drug is not
immediately known.
Recently,
Eisai Inc have entered into a settlement agreement with Glenmark
Pharmaceuticals, which allowed Glenmark to launch generic version of this drug
after May 2022 or earlier in certain circumstances.
Techno Electric
sells wind assets worth Rs215 cr
Power
generation was not the core business of the company and accordingly it had
decided to focus on transmission and distribution (power). Techno Electric had
invested Rs350 crore in 2008-09 and another Rs650 crore in 2011-12 towards
creation of these wind assets.
Rane group to
invest Rs220 crore for capacity expansion
As per
media reports, the Rane Group will be investing close to Rs220 crore in FY16 to
augment capacity especially in Rane Madras and airbag manufacturing capacity in
Chennai.The company is also looking at acquisitions in the aerospace business
and targets a contribution of 10% from aerospace in five years. Positive for
Rane Holdings and Rane Madras.
Tata Motors to
launch next generation Nano
Tata
Motors to launch the next generation Nano. The vehicle is expected to be priced
between Rs2.25 lakh and Rs2.99 lakh and will have and AMT (automatic manual
transmission) as an option in addition to an open able boot space.
Suzlon wins order
for 98 MW project in Telangana
Suzlon
won order for the sale of equipment for 98 MW project in Telangana –
Positive for Suzlon My trah Energy has awarded Suzlon equipment sale contract
for 98MW project in Telangana Suzlon will install 47 wind turbine generator
(WTGs) with capacity of 2.1MW each. The project is the 3 rd repeat order
awarded by My trah to Suzlon Energy. Suzlon has already commissioned 310MW wind
energy project for My trah so far and 205 MW is under execution in Rajasthan,
Maharashtra & Andhra Pradesh.
SpiceJet in talks
raise funds worth Rs900 crore
SpiceJet
is planning to raise $150 million (over Rs900 crore) in debt or equity and is
in discussions with private equity firms and banks for the same. The funds will
be used as working capital and to repay dues, the airline said. SpiceJet
underwent a change in ownership in January with founder-promoter Ajay Singh
stepping in as chairman. It then received a Rs 400 crore infusion and is
undergoing fleet expansion after a difficult winter season, which saw grounding
of aircraft, curtailment of schedule and cancellation of flights.
Crompton wins
turnkey project in Germany
Crompton
Greaves has won order for turnkey supply an installations of HV offshore
substation for the 400 MW at Veja Mate offshore project in Germany. The value
of the order is not being disclosed yet.
NBCC signs MoU
with NAWADCO for development of properties
National
Buildings Construction Corporation ( NBCC) has executed project specific
Memorandum of Understanding (MoU) with NAWADCO for the development of four
properties of WAQF Board, worth Rs398 crore. The four properties are Gulistan
Shadi Mahal, Masjid-e-Mavalli, Dargah Hazrat Attaullah Shah in Bangalore and
Takiya Chand Shah in Jodhpur.
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