Biocon, Aurobindo Pharma and Cyient to see some action today

Biocon’s subsidiary company -- Biocon Biologics’ board has approved a Rs 1, 125 crore ($150 million) capital injection from Goldman Sachs. As per the terms of the proposed agreement, Goldman Sachs will be issued Optionally Convertible Debentures at a post money equity valuation of $3.94 Billion. The transaction is subject to customary approvals and conditions. This capital injection by Goldman Sachs will enable Biocon Biologics to make prudent investments in R&D, high-quality manufacturing, as well as, establish a global commercial footprint.

Aurobindo Pharma has completed acquisition of 100% equity share capital of MViyeS Pharma Ventures (MViyeS) on November 6, 2020. Before acquisition, MViyeS was holding 32.18% shareholding in Eugia Pharma Specialities, a joint venture company in which the company is holding the balance 67.82%. Now, both Eugia Pharma Specialities and MViyeS Pharma Ventures have become 100% subsidiaries of the Company.

Cyient has received nod from the Foreign Investment Review Board (FIRB) of Australia, and has completed the acquisition of Integrated Global Partners Pty (IG Partners), an Australia-based technology consultancy company. In August 2020, Cyient had said it will acquire Australian consulting firm IG Partners to expand its end-to-end offerings for the local and regional resources sector.

NTPC has commissioned commercial operation of Unit-2 (800 MW) of Lara Super Thermal Power Station Stage-I (2 X 800 MW). With this, the commercial capacity of NTPC and NTPC group will become 51155 MW and 62910 MW respectively.

Tata Motors is aiming to have the widest portfolio of sports utility vehicles (SUVs) in the domestic market, a move aimed at helping the company muster greater market share in the passenger vehicle segment. The auto major, which currently sells models like Nexon and Harrier in the SUV segment, is also looking to overhaul its entire sales, aftersales and service verticals to enhance the overall buying experience for customers.

Cipla is looking at sustaining growth through the pandemic and has decided certain priorities for the coming quarters, including digital adoption and profitable growth. The drug firm has earmarked digital adoption and resilient operations as first of the key priorities for the coming quarters to achieve sustained growth. The company is adopting digital transformation for patient and channel connect to expand access and leverage demand patterns, and is also proactively de-risking the business by diversifying sources for critical active pharmaceutical ingredients (APIs), intermediates and key starting materials (KSMs), and maintaining adequate inventory levels.

Dilip Buildcon has been declared as L-1 bidder for Mine Developer cum Operator (MDO) Contract for Development and Operation of Siarmal Open Cast Project of Mahanadi Coalfield (MCL), a subsidiary of Coal India (CIL) for 25 Years. The Company has emerged as L-1 bidder in the tender floated by MCL for Development and Operation of Siarmal Open Cast Project in the state of Odisha.