Reliance Industries, Sun Pharma and IOC to see some action today

Global investment firm KKR is planning to invest Rs 5,550 crore into Reliance Retail Ventures (RRVL), a subsidiary of Reliance Industries. This investment values Reliance Retail at a pre-money equity value of Rs 4.21 lakh crore. KKR’s investment will translate into a 1.28% equity stake in RRVL on a fully diluted basis. This marks the second investment by KKR in a subsidiary of Reliance Industries, following a Rs 11,367 crore investment in Jio Platforms announced earlier this year.

Sun Pharmaceutical Industries’ wholly-owned Japanese subsidiary has launched ILUMYA Subcutaneous Injection 100 mg Syringe (Nonproprietary name: tildrakizumab (genetical recombination), ILUMYA) in Japan for the treatment of plaque psoriasis in adult patients who have an inadequate response to conventional therapies. ILUMYA is a humanized lgG1/k monoclonal antibody designed to selectively bind to the p19 subunit of IL-23 and inhibit its interaction with the IL-23 receptor, leading to inhibition of the release of pro-inflammatory cytokines and chemokines.

Indian Oil Corporation’s (IOC) board has accorded approval for implementation of Petrochemical and Lube Integration Project at IndianOil's Gujarat Refinery at an estimated cost of Rs 17,825 crore. The project will not only increase the capacity of Gujarat Refinery from 13.7 MMTPA to 18 MMTPA, but would also result in integration to petrochemicals with production of 500 KTPA Polypropylene.

Lupin has launched Divalproex Sodium Extended-Release (ER) Tablets USP, 250 mg and 500 mg, having received an approval from the United States Food and Drug Administration (U.S. FDA) earlier. The product will be manufactured at Lupin’s Nagpur facility in India. Divalproex Sodium Extended-Release (ER) Tablets USP (RLD: Depakote ER) had annual sales of approximately $130 million in the U.S.

Yes Bank has entered into a corporate agency (CA) arrangement with HDFC Life. This CA arrangement will enable customers of Yes Bank to avail HDFC Life's wide range of life insurance products, which include solutions for protection, savings and investment, retirement and critical illness. There is a huge potential for insurance coverage across life and health protection, savings and annuity products in our country.

Tata Consultancy Services (TCS) is using its new AI software, IUX for Workplace Resilience, to minimize the risks for its employees and ensure their safety, should their responsibilities require some of them to be in the office during the pandemic. When COVID-19 forced companies to mandate working from home, TCS deployed its Secure Borderless Workspaces (SBWS) model, enabling its workforce of over 443,000 across 46 countries to work remotely, in just a few weeks.

Blue Dart Express is planning to hike average shipment price by 9.6 percent from January 2021 to offset higher costs. The price increase, however, will not be applicable to customers signing up with the company between October 1 and December 31, 2020. The upward revision in prices is part of the annual exercise undertaken to adjust inflation, fluctuation in currency and fuel price, among others. As per the General Price Increase (GPI), effective January 1, 2021, the average shipment price increase will be 9.6 percent as compared to 2020, depending on the shipping profile.