Cadila Healthcare will be watched. Zydus Cadila has received the final approval from the US Food and Drug Administration (USFDA) to market Clindamycin Phosphate and Benzoyl Peroxide Gel, (US RLD - DUAC Gel), 1.2%/5%. It will be manufactured at the group's Topical manufacturing facility at Ahmedabad. This combination medication is used to treat a certain type of acne (inflammatory acne vulgaris). It helps to decrease the number of acne pimples. Clindamycin is an antibiotic that stops the growth of acne-causing bacteria. Benzoyl peroxide can also stop the growth of bacteria as well as reduce oil production in the skin. The group now has 242 approvals and has so far filed over 340 ANDAs since the commencement of the filing process in FY 2003-2004. The announcement was made on Saturday, 29 December 2018.
Zydus Wellness said it availed the credit rating of 'CRISIL AA+/Stable', (pronounced 'CRISIL double A plus rating with stable outlook) from CRISIL for proposed issue of Rs 1500 crore secured redeemable non-convertible debentures (NCD) of the company. The announcement was made on Saturday, 29 December 2018.
Aavas Financiers (Aavas), Jaipur based affordable housing finance company, has received fresh refinance assistance of Rs 400 crore in addition to the approval of undrawn limit of Rs 100 crore pertaining to previous year, in December 2018. Such refinance assistance will further strengthen liquidity position of the Company, post the successful round of fund raise of Rs 200 crore from CDC Group through issuance of rupee denominated masala bonds. The National Housing Bank (NHB) funds are for a tenure up to 15 years which will provide a strong boost to our retail home loan lending activities in semi-urban and rural areas. Such refinance facility will be disbursed in accordance with the norms of refinance schemes of NHB. The announcement was made on Friday, 28 December 2018.
Reliance Industries (RIL) said its wholly-owned subsidiary, Reliance Industrial Investments and Holdings ('RIIHL'), has entered into a binding agreement with Kanoda Energy Systems ('KESL') for acquisition of equity shares for a cash consideration not exceeding Rs 75 crore. The said investment upon completion will translate into 88% equity stake in KESL on a fully diluted basis. The total investment is likely to be completed by March 2020.
KESL is a renewable energy services company incorporated on 24 August 2007. It has presence in specialized fields of solar advisory, product design and technology validation and recently forayed into engineering, procurement & construction (EPC) and operation & maintenance (O&M) of solar photovoltaic (PV) systems. The aforesaid investment will assist in the group's initiatives to use renewable energy sources. The announcement was made on Saturday, 29 December 2018.
Piramal Enterprises said that a meeting of the administrative committee of the board of directors of the company will be held on Wednesday, 2 January 2019, to consider and approve the issue of secured, redeemable, non-convertible market linked debentures upto Rs 100 crore on private placement basis.
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Syndicate Bank announced that Government of India, Ministry of Finance, Department of Financial Services has conveyed the sanction of the President of India for release of Rs 1632 crore to Syndicate Bank towards contribution of the central government in the preferential allotment of equity shares (special securities/bonds) of the bank during the Financial Year 2018-19, as government's investment. The announcement was made on Friday, 28 December 2018.
Karnataka Bank opened its 830th branch at Totagere, Bengaluru Urban District, 831st Branch at Ramasandra, Bengaluru Urban District and 832nd Branch at Bengaluru -Kaggalipura on 28 December 2018. The announcement was made on Friday, 28 December 2018.
NLC India has achieved a critical milestone towards commissioning its 1000 MW (2X500 MW) of Neyveli New Thermal Power Project (NNTPP) by successfully conducting the boiler light-up test for the first unit with secondary fuel on 28 December 2018 at Neyveli. This is the first 500 MW lignite fired power plant in the country. It can generate 1000000 units of power in an hour. This power project will replace the existing more than five decades old TPS-I (600MW) at Neyveli. The announcement was made on Saturday, 29 December 2018.
Ashok Leyland announced that as directed by the National Company Law Tribunal (NCLT), Chennai, vide its order dated 17 December 2018 approving the scheme of amalgamation of Ashok Leyland Vehicles, Ashley Powertrain, Ashok Leyland Technologies (transferor companies) with Ashok Leyland (transferee company), the company has filed the amended memorandum of association of the company with the Registrar of Companies, Chennai.
The brief of the amendments to the object clause of the company is to engage in the business of developing, manufacturing and selling light commercial vehicles upto 7.5 ton gross vehicle weight (LCVs), powertrain for LCVs, (LCV powertrains) and spare parts thereof in India and other countries; to adopt changes to light commercial vehicles (LCV) and LCV powertrains that are cost-effective and indigenous. The announcement was made on Friday, 28 December 2018.
Housing Development and Infrastructure (HDIL)'s board approved allotment of 2 crore warrants at an issue price of Rs 31.10 per warrant to Mr. Sarang Wadhawan, promoter of the company, upon receipt of minimum subscription amount. Consequently, as on date there is no change in the paid up equity share capital of the company. The announcement was made on Saturday, 29 December 2018.
Rane Holdings exercising the entire 3,65,630 warrants (convertible into equity shares) held in its subsidiary, Rane (Madras) (RML), the allotment committee of the board of directors of RML has at its meeting held on 28 December 2018 allotted equivalent number of equity shares i.e., 3,65,630 equity shares of Rs 10 each as fully paid-up, to Rane Holdings. The announcement was made on Friday, 28 December 2018.
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