 "Aurobindo Pharma finalizes acquisition of GLS Pharma, enhancing its oncology portfolio, gaining full ownership by December 2024.")
Aurobindo Pharma Ltd has announced its plan to acquire the remaining 49 percent stake in GLS Pharma Ltd for Rs 22.5 crore, making GLS a wholly-owned subsidiary. This agreement, finalized on September 18, 2024, involves purchasing 5,90,361 equity shares at Rs 381.12 per share. Aurobindo initially acquired a 51 percent stake in GLS from Suresh ...
 "Ravi Mital, IBBI chairperson, urges insolvency experts to prioritize transparency, enhancing bids and strengthening India’s insolvency framework.")
Ravi Mital, the Chairperson of the Insolvency and Bankruptcy Board of India (IBBI), emphasized the importance of transparency among insolvency professionals during a recent conference in New Delhi. He urged professionals to enhance transparency in the resolution process, stating that this practice could lead to better bids and reduced financial haircuts. Mital highlighted the crucial ...
 "IRB Infrastructure Investment Trust plans ₹2,667 crore debt refinancing to eliminate external liabilities, enhancing financial stability amid mixed earnings performance.")
IRB Infrastructure Investment Trust (InVIT) is set to raise Rs 2,667 crore through term loans to refinance existing debt, aiming to eliminate external debt for its six Special Purpose Vehicles (SPVs). This move will extend the loan duration and lower financing costs. Currently, InVIT manages road assets across several states, including Karnataka and Rajasthan. Although ...
 "Prime Minister Modi inaugurates new Vande Bharat trains, enhancing India’s rail connectivity with speed, safety, and modern amenities.")
Prime Minister Narendra Modi is set to launch six new Vande Bharat trains today in Jharkhand, enhancing India’s railway network. These trains offer faster travel, advanced safety features, and luxurious amenities, significantly improving passenger experience. The new routes connect key locations such as Tatanagar-Patna and Gaya-Howrah. With this addition, the Vande Bharat fleet expands to ...
 "Zomato partners with IRCTC to deliver meals directly to train passengers, enhancing travel comfort across 88 cities in India.")
Zomato has teamed up with the Indian Railway Catering and Tourism Corporation (IRCTC) to launch a new service called ‘Zomato – Food Delivery in Trains.’ This collaboration allows passengers to enjoy a wide range of meals during their train journeys, making travel more enjoyable. The service is currently available in 88 cities and has successfully ...
 "Akums Drugs secures a patent for a novel Hydroxyurea formulation, promising affordable treatment for Sickle Cell Disease and enhancing patient care.")
Akums Drugs and Pharmaceuticals has announced that it has received a patent from the Indian patent office for an innovative formulation aimed at treating Sickle Cell Disease (SCD). This new oral suspension of Hydroxyurea is designed to be stable at room temperature, making it easier for patients to manage this genetic blood disorder that causes ...
 "In a dramatic test, the Indian Navy successfully launched a short-range missile, enhancing its defense capabilities off Odisha’s coast.")
On September 12, 2024, the Indian Navy and the Defence Research and Development Organisation (DRDO) successfully conducted a flight test of a new surface-to-air missile off the coast of Odisha. This Vertical Launch Short Range Surface-to-Air Missile (VL-SRSAM) was launched from a land-based system and effectively tracked and engaged a high-speed aerial target flying at ...
 "Kalpataru Projects secures ₹2,774 crore in new orders, expanding into airport construction and enhancing its global engineering footprint.")
Kalpataru Projects International Ltd (KPIL), a leading engineering and construction company in India, has secured new orders worth Rs 2,774 crore. These projects include significant work in Transmission & Distribution overseas and an EPC project for the Airports Authority of India, as well as a Design & Build project for residential buildings in India. Manish ...
 "Sebi’s new rules ease margin trading, allowing cash collateral as maintenance margin, enhancing business efficiency and reporting requirements.")
The Securities and Exchange Board of India (Sebi) has introduced new guidelines to ease margin trading for investors. Now, securities funded with cash collateral can qualify as a maintenance margin for the margin trading facility (MTF). This change aims to reduce the need for additional collateral. Sebi received requests from Market participants to modify the ...
 "Adani Ports secures a 30-year concession to develop Berth No. 13, enhancing cargo capacity at Deendayal Port by 2027.")
Adani Ports and Special Economic Zone (APSEZ) has recently signed a concession agreement to develop Berth No. 13 at Deendayal Port in Kandla, Gujarat. This berth, designed to handle multipurpose cargo, is set to be operational by FY27 and has a capacity of 5.7 million metric tons annually. APSEZ established a new subsidiary, DPA Container ...
