Lupin, Biocon, PNB, SBI, HDFC Bank, and others | Rare Techy
Nifty futures on the Singapore Stock Exchange were down 52.5 points, or 0.28 percent, at 18,615.5, indicating that Dalal Street is off to a negative start on Friday.
PNB/UTI AMC: Punjab National Bank (PNB) on Thursday said it has received government approval to divest its entire stake (15.22 per cent) in UTI Asset Management Company as part of its non-core sale plan to raise capital the last of us. base Read here
SBI: State Bank of India (SBI), the country’s largest lender, plans to raise Rs 10,000 crore in infrastructure loans in the current financial year. Read more
HDFC Bank: The private sector lender has decided to elevate Kaizad Bharucha as deputy managing director and appoint Bhavesh Zaveri to the board as whole-time managing director. Read more
India’s Tube Investments: The Murugappa Group has acquired a 50 percent stake in X2Fuels and Energy, an early-stage startup housed at the National Center for Combustion Research and Development (NCCRD) at IIT Madras. Read here
Oil Corporation of India: ICICI Bank, Prudential ICICI Life Insurance, HDFC Life Insurance and SBI Life Insurance have entered into agreements to invest in the seed capital of a proposed joint venture of Oil Corporation of India and Chennai Oil Corporation. The project is expected to see an investment of Rs 31,580 crore.
TVS Motor: The company expanded its global footprint and opened its first showroom in Singapore.
Tata Steel Long: The company has acquired a further 46.87 million shares at a premium of Rs 54 per share from Neelachal Ispat Nigam for Rs 300 million (tranche 2).
PVR: PVR has opened 12 superlex screens in Thiruvananthapuram, Kerala.
Lupin: The US FDA has issued Form-483 with eight observations each for the drug product entity and the API entity of the company’s Mandideep-1 unit.
West Coast Paper Mills: ICRA has revised the long-term rating to AA.
Veranda Learning Solutions: The company has partnered with IIM Raipur and SHRM (Society for Human Resource Management) to launch a Post Graduate Business Program (online MBA) in HR Management.
Biocon: Major biotechnology company Biocon Biologics as part of a legal transaction to buy the biologics business of Viatris Inc. In February, Biocon Biologics signed a deal to value Viatris Inc’s biosimilars business for about $3.34 billion.
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