Dr Reddy’s Laboratories: Dr Reddy’s Laboratories receives Establishment Inspection Report (EIR) for Srikakulam facility. The company has received Establishment Inspection Report (EIR) for its Srikakulam facility. In July, the company informed about the inspection conducted by the United States Food & Drug Administration (USFDA) at the formulations manufacturing facility (FTO 11) in Srikakulam, Andhra Pradesh. Now the agency has concluded that the inspection is “closed”.
Eicher Motors: Eicher Motors CFO resigns. Kaleeswaran Arunachalam has tendered his resignation from the Chief Financial Officer and Key Managerial Personnel position. His resignation will take effect after working hours on September 2.
Nelco: Intelsat Commercial Aviation signs agreement with Nelco to offer inflight connectivity in India’s airspace. Intelsat, the leading provider of inflight connectivity (IFC), announced the beginning of Intelsat’s inflight connectivity services in Indian skies through an agreement with Nelco, India’s leading satellite communication service provider. Nelco has been offering the Aero IFC services for more than two years with plans to introduce these services to more airlines in collaboration with its global partners.
HDFC Bank: HDFC Bank to pick up 9.94% stake in Go Digit Life Insurance. HDFC Bank has entered into non-binding term sheet with Go Digit Life Insurance. The bank will make an investment in the company between Rs 49.9 crore and Rs 69.9 crore in two tranches for an equity stake of up to 9.944%.
Syrma SGS Technology: Syrma SGS Technology to make market debut on August 26. The company will make its debut on the bourses on August 26. The issue price has been fixed at Rs 220 per share.
Goa Carbon: Goa Carbon resumes operations at Bilaspur unit. The company announced resumption of operations at Bilaspur unit.
Inox Wind Energy: Inox Wind Energy to consider fundraising on August 30. The company said its board of directors on August 30 will consider fundraising. The fundraising will be through a preferential issue or on private placement basis.
UCO Bank: CRISIL upgrades credit rating on 9% Lower Tier II bonds of UCO Bank. CRISIL has upgraded its rating on the Lower Tier II bonds of the bank from A+ with positive outlook to AA- with stable outlook, while the rating for Certificate of Deposits is reaffirmed at A1+.
Max Financial Services: Max Life Pension Fund Management receives Certificate for commencement of pension fund business from PFRDA. Max Life Insurance Company has announced the receipt of the Commencement of Business (COB) certificate for its wholly owned subsidiary Max Life Pension Fund Management (Pension Fund) on August 23, from Pension Fund Regulatory and Development Authority (PFRDA). This subsidiary will manage the pension assets with investment choices under the National Pension Scheme.
Infibeam Avenues: Infibeam Avenues to raise Rs 161.50 crore for fintech business expansion. The company has received board approval for fundraising of Rs 161.50 crore via issue of warrants on a preferential basis. The funds will be deployed for domestic and international fintech and software business expansion as well as for other business purposes. The company has made a strategic investment and will own 50% stake in Gurugram-based software startup Vishko22.
PVR: BNP Paribas Arbitrage offloads 4.05 lakh shares in PVR. BNP Paribas Arbitrage sold 4,05,183 equity shares in the multiplex chain operator via open market transactions. These shares were sold at an average price of Rs 1,841.14 per share.
Shukra Pharmaceuticals: Shukra Pharmaceuticals announces fundraising via rights issue. The stock will be in focus as the board of directors has approved raising of funds by issue of equity shares to the existing members of the company on a rights basis. The amount of fundraising is Rs 19 crore.
Ador Welding: Nippon Life India Trustee cuts stake in Ador Welding. Nippon Life India Trustee sold 0.04% stake in the company via open market transactions. With this, its shareholding in the company has reduced to 3.017% from 3.06% earlier.
Dev Information Technology: Dev Information Technology teams up with JG University to upskill IT students & professionals. The company has teamed up with JG University, Ahmedabad to upskill IT students & professionals and give them career opportunities.
