Mahindra & Mahindra (M&M): M&M on Friday announced that the company's total production of automobiles advanced 14.04% to 56,997 units in February 2023 as compared with 49,979 units sold in February 2022. The auto major's total sales rose 9.51% to 56,551 units in February 2023 as against 51,641 units sold in the same period a year ago.
IndusInd Bank: The private lender said that the Reserve bank of India (RBI) has approved the re-appointment of Sumant Kathpalia as managing director and chief executive officer (MD & CEO) of the bank for two years effective from 24 March 2023.
Lupin: The United States Food and Drug Administration (USFDA) conducted a pre-approval and GMP inspection at its API manufacturing facility from 6 March 2023 to 10 March 2023. Lupin announced that the US drug regulator concluded the inspection of its manufacturing facility located in Visakhapatnam (Vizag), India with no observations.
Godrej Industries: The management committee of the company's board on Friday, 10 March 2023, approved raising upto Rs 1,000 crore by issuing non-convertible debentures (NCDs) on private placement basis.
Canara Bank: The PSU lender increased marginal cost of funds based lending rate (MCLR) with effect from 12 March 2023. The overnight MCLR increased by 35 basis points from 7.55% to 7.90%. MCLR for one month rose by 45 basis points from 7.55% to 8%. The interest rates on the three month MCLR was raised by 25 basis points from 7.90% to 8.15%.
Welspun Corp: Welspun Corp said that its wholly owned subsidiary Welspun Metallics has received multiple export orders of approximately 43 KMT for Pig Iron across South East Asia and Europe.
Nazara Technologies: Two of Nazara Technologies Limited's (Nazara) step down subsidiaries Kiddopia Inc and Mediawrkz Inc hold cash balances at Silicon Valley Bank (SVB), which is currently under the receivership of the Federal Deposit Insurance Corporation (FDIC). The balances held at SVB by Kiddopia Inc. and Mediawrkz Inc cumulatively account for $7.75 million (about Rs 64 crore).
Shilpa Medicare: The US Food and Drug Administration (USFDA) conducted good manufacturing practice (GMP) inspection at the company's analytical services division situated at Unit 7, Nacharam, Hyderabad, Telangana. The inspection was conducted from 8th to 10th March 2023. The USFDA has issued 2 minor observations which are related to improvements in existing procedures and are addressable.
Zydus Lifesciences: Zydus Lifesciences announced that it has received final approval from the United States Food and Drug Administration (USFDA) to market Olanzapine orally disintegrating tablets.
Ugro Capital: Ugro Capital announced that its investment and borrowing committee of the board has allotted 300 units of commercial paper (CP), aggregating to Rs 15 crore.
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