Lupin: The pharma firm is recalling 4,113 cartons of generic oral contraceptive tablets in the US, the world's largest market for medicines, due to manufacturing issues. As per the latest enforcement report issued by the USFDA, Lupin's US-based unit is recalling 4,113 cartons of Tydemy.
In another development the home grown pharma company plans to set up over a hundred laboratories and a thousand franchisee-based collection centres as it aims to become among the top five diagnostic chains in the country.
Reliance: The Mukesh Ambani flagship firm in association with Assets Care & Reconstruction Enterprise Ltd, are among those bidding to take over bankrupt Indian textile firm Sintex Industries Ltd. READ MORE
Maruti: The country's largest carmaker Maruti Suzuki India (MSI) is currently analysing customer feedback to ascertain if the Jimny brand could be introduced in India as part of its overall plan to strengthen the SUV portfolio. The company currently manufactures three-door Jimny at its Gurugram plant and exports to Middle East and African markets. READ MORE
State Bank of India: India’s largest public sector bank has raised about Rs 3,974-crore capital through additional tier 1 bonds (AT1 bonds). The coupon for the AT1 bonds was fixed at 7.55 per cent, cheaper by 17-basis points over the last issuance in September 2021.
ONGC: The largest oil and gas producer in the country is seeking a minimum price of $ 3.5-4 for the natural gas it plans to produce from coal seams in Jharkhand and a field in Tripura. The company has been complaining that the government-notified gas price is way below cost and the company incurs a loss of production and sale of natural gas from most of its fields. It says its cost of production ranges from $4.5 to $9 per mmBtu for gas from different sources/fields. READ MORE
Vedanta: The company has declared an interim dividend of Rs 13.50 per share.
PowerGrid Corporation of India: The company’s board is scheduled to meet on December 15 to consider and approve divided for FY22.
Bank of Maharashtra (BoM): Faced with competition from fellow financiers, Bank of Maharashtra (BoM) has slashed lending rates on retail loans — home and vehicle — by up to 40-basis points, to borrowers’ with credit score of above 800 w.e.f. December 13.
Zydus Cadila: The company has received approval from the USFDA to market generic drug Cariprazine capsules, in the strengths of 1.5 mg, 3 mg and 4.5 mg, and 6 mg, which are used in the treatment of schizophrenia.
Minda Industries: The auto components maker said it has entered into a joint venture agreement with FRIWO AG Germany to manufacture and supply various electric vehicle components in the Indian subcontinent with a planned capex of Rs 390 crore in the next six years.
Stocks in F&O ban: Escorts, Indiabulls Housing Finance and Vodafone Idea are the only stocks in the F&O ban period today.
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