Dr. Reddy’s, Indoco Remedies and Reliance Industries to see some action today

Dr. Reddy’s Laboratories has launched Dimethyl Fumarate Delayed-Release Capsules, a therapeutic equivalent generic version of Tecfidera (dimethyl fumarate) Delayed-Release Capsules, approved by the U.S. Food and Drug Administration (USFDA). The Tecfidera brand and generic market had U.S. sales of approximately $3.8 billion MAT for the most recent twelve months ending in June 2020, according to IQVIA Health. The company’s Dimethyl Fumarate Delayed-Release Capsules are available in 120 mg and 240 mg capsules in bottle count sizes of 14 and 60 capsules, respectively.

Indoco Remedies has launched FEVINDO (Favipiravir) 400 mg Tablets in India. Fevindo ? 400 (Favipiravir) is an antiviral drug, effective against the RNA?based influenza virus. The drug has been approved by DCGI in the treatment of Covid?19. Fevindo 400 reduces pill burden by 50% and ensures convenient dosing and better patient compliance. Fevindo ? 400 (Favipiravir) will be made available at all government approved COVID care centres and selected medical practitioners across the country.

Reliance Industries’ (RIL) subsidiary -- Reliance Retail Ventures has received the subscription amount of Rs 7,500 crore from SLP Rainbow Holdings (Silver Lake). Reliance Retail Ventures has allotted equity shares to SLP Rainbow Holdings following which SLP Rainbow Holdings holds 1.75% of the fully diluted equity share capital of Reliance Retail Ventures.

Vodafone Idea (VIL) has started upgrading its 3G users to 4G in key markets. Further, the company is in the best position to upgrade 2G customers also to 4G, but it will continue with basic voice based services to its 2G subscribers. While the company will continue to offer basic voice services to its 2G users, 3G data users will gradually be upgraded to 4G in a phased manner across all markets. VIL has started informing its customers in the markets where re-farming is getting completed.

HDFC Bank is targeting a ten-time increase in the number of small merchants it serves to 20 million in the next three years. The bank started targeting merchants about 18 months ago with solutions on accepting payments, providing value-added services like creating a simple website for them, taking care of their inventory and lending based on cash flows, through a single app.

NTPC has got shareholders' approval to raise up to Rs 15,000 crore through issuance of the secured/unsecured, redeemable, taxable/tax-free, cumulative/non-cumulative, non-convertible debentures (NCDs). The funds would be raised for capital expenditure, working capital and general corporate purposes, in the domestic market. The company also got members' approval to amend the Memorandum of Association (MoA) to provide focus on new business segments like e-mobility, waste-to-energy, manufacturing of value added products from fly ash, gypsum etc. and sea water desalination.

Ugro Capital has received corporate agency license (Composite) from the Insurance Regulatory and Development Authority of India (IRDA). Under the said license, the company shall be entitled to tie with life and general insurance companies to distribute their insurance products in line with various directions/guidelines issued by IRDA.