Sun Pharmaceutical Industries announced that one of its wholly-owned subsidiaries has launched in US, the Authorized Generic (AG) version for Daiichi Sankyo Inc.'s Welchol (colesevelam hydrochloride) 625mg tablets. The launch is pursuant to a distribution and supply agreement between Sun Pharma's wholly owned subsidiary and Daiichi Sankyo Inc., which grants the Sun Pharma subsidiary, exclusive rights to distribute these tablets in the US for a pre-determined period. Welchol Tablets recorded US sales of approximately $520 million for the 12 months ending March 2018, as per IQVIA. The announcement was made after market hours yesterday, 17 May 2018.
Godrej Agrovet announced that its subsidiary, Creamline Dairy Products (CDPL), as a part of its expansion plans, intends to invest Rs 400 crore in 3 greenfield milk processing plants in Tamil Nadu, North Karnataka and Maharashtra over the period of next 3 years. The announcement was made after market hours yesterday, 17 May 2018.
CDPL had recently acquired a processing plant in Tirunelveli, Tamil Nadu and is in the process of setting up another plant in Visakhapatnam. The objectives behind this proposed expansion includes growing the share of value-added milk products. In view of the same, it is expected that the milk processing capacity of CDPL would increase from 12 lakh litres per day to 15 lakh litres per day. Further, CDPL may plan to raise funds through debt or by way of public issue, if required, subject to necessary approvals.
Vijaya Bank announced that a board meeting will be held on 20 May 2018 to discuss on the capital raising plan under BASEL-III for the financial year 2018-2019. The announcement was made after market hours yesterday, 17 May 2018.
Gujarat State Fertilizers & Chemicals (GSFC) said it signed a non-binding memorandum of understanding (MoU) with Centrex Metals, Australia, for the purchase of 3,00,000 tonnes per annum (dry basis) of rock phosphate for 10 years. The said proposal upon its implementation shall be immensely useful to GSFC for the purpose of its backward and forward integration strategies. The announcement was made after market hours yesterday, 17 May 2018.
India Tourism Development Corporation (ITDC) announced that a share transfer agreement has been signed amongst ITDC, Arunachal Pradesh Industrial Development & Financial Corp (APIDFC), Donyi Polo Ashok Hotel Corporation (DPAHCL) and Government of Arunachal Pradesh (GoAP) for transfer of 51% equity stake of ITDC in DPAHCL, the joint venture subsidiary company, to APIDFC/GoAP on a consideration amount of Rs 1.98 crore. The announcement was made after market hours yesterday, 17 May 2018.
On a consolidated basis, Voltas' net profit fell 3.13% to Rs 194.19 crore on 1.15% increase in net sales to Rs 2021.30 crore in Q4 March 2018 over Q4 March 2017. The result was announced after market hours yesterday, 17 May 2018.
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