TVS Motor, Sterling and Wilson Solar and Hindalco Industries to see some action today

TVS Motor Company has entered into a new distribution partnership with Autotecnica Colombiana SAS (Auteco SAS), a leading motorcycle assembler in Colombia. Autotecnica Colombiana SAS will operate 50 dealerships exclusive to TVS Motor and create dedicated space for the brand in over 600 retail outlets. They will support TVS Motor with dedicated sales, service, spares and customer relationship management (CRM). Autotecnica Colombiana SAS will also provide the brand with an assembly set-up in Cartagena along with a dedicated training centre.

Sterling and Wilson Solar has signed an order of 106.71 MW worth $62.6 million (Rs 462 crore) in Chile. The order has been received from a global independent power producer (IPP), work for which is expected to begin in Q4 FY 2021. The company already has a strong presence in the region with one project of 93.3 MW in Argentina and three projects of 588 MW under construction in Chile.

Hindalco Industries has entered into a memorandum of understanding (MoU) with Hindustan Copper (HCL) for the long-term purchase and sale of copper concentrate produced by the PSU. Under this MoU, around 60 percent copper content of HCL’s current copper concentrate production will be utilised by Hindalco in the manufacture of refined copper. Hindalco’s copper is used by key industries, such as power, electronics, railways and construction.

Hindustan Zinc is planning to offer rated, unsecured, redeemable, non-cumulative, non-convertible debentures (NCDs) aggregating up to Rs 4,000 crore in one or more tranches, and in this regard is holding a meeting of its duly constituted Committee of the Directors on September 22, 2020. The said issuance is pursuant to the approval of the board of directors in its meeting held on July 21, 2020.

Dr Reddy's Laboratories has settled a litigation with a unit of Bristol Myers Squibb related to patents for Revlimid (lenalidomide) capsules, used to treat various kinds of cancer. The Hyderabad-based company has settled litigation with Celgene, a wholly-owned subsidiary of Bristol Myers Squibb. In settlement of all outstanding claims in the litigation, Celgene has agreed to provide the company with a license to sell volume-limited amounts of generic lenalidomide capsules in the US beginning on a confidential date after March 2022 subject to regulatory approval, it added. The agreed-upon percentages are confidential.

Brooks Laboratories has entered into joint venture partnership with SteriScience. The global marketing joint-venture arrangement, shall focus on international markets such as USA, Europe and other regulated markets. Simultaneously the joint venture partners have also entered into manufacturing joint venture towards building a robust carbapenem business with integrated manufacturing capabilities, subject to approval from the shareholders of Brooks. This is a landmark value-accretive partnership, which furthers Brooks' global aspirations.

PTC India Financial Services (PFS) has received Rs 115.57 crore from Income Tax Department as IT refund for Assessment Year (AY) 2019-20 (Financial Year 2018-19). The company may utilize the amount of refund received in financing sustainable environmental friendly infrastructure projects related to green energy, water sewage treatment plan, electric vehicle charging station etc.