Biocon, Cipla and Union Bank of India to see some action today

Biocon’s subsidiary company -- Biocon Biologics, in continuation of its Mission 10 cents affordable insulins program for low- and middle-income countries (LMICs), has signed a Memorandum of Understanding (MoU) with the Christian Social Services Commission (CSSC), a faith-based organization active in Africa. CSSC works closely with the government as well as international and national partners to facilitate health and education services. Tanzania will be the first country in Africa that will benefit from this collaboration between Biocon Biologics and CSSC.

Cipla has entered into partnership with the Premier Medical Corporation for commercialization of the rapid antigen test kits for COVID-19 in India. The company will commence supply from this week. This is Cipla’s second launch in the diagnostics space after Elifast: SARS CoV-2 IgG ELISA Test Kit. In this collaboration, Cipla will be responsible for the marketing and distribution of the Rapid Antigen Detection Test for the qualitative detection of SARS-CoV-2 antigen that will be manufactured by Premier Medical Corporation.

Union Bank of India has raised Rs 500 crore and allotted Unsecured, Subordinated, Non-Convertible, Taxable, Perpetual, Fully Paid-Up Basel III Compliant Debt Instruments in the nature of Debentures eligible for inclusion in Additional Tier 1 Capital (Bonds) Series XXVII on December 15, 2020.

Mahindra and Mahindra (M&M) is going to increase the price of its range of Passenger and Commercial Vehicles, across models from January 1, 2021. This has been necessitated due to the increase in commodity prices and various other input costs. Details of the price increase across different models will be communicated in due course.

South West Pinnacle Exploration has incorporated a wholly owned subsidiary company namely ‘South West Oil Field Services’ on December 14, 2020. The entity is incorporated as Wholly Owned Subsidiary of the company to participate in tenders issued by clients in Oil and Gas or other sectors where South West Pinnacle Exploration (SWPE), India deems fit either directly or through a joint Venture.

Satin Creditcare Network has raised Rs 48.75 crore through Unlisted, Senior and Secured Non-Convertible Debentures (NCDs) and allotted 9,750 NCD’s having face value of Rs 50,000 each. Date of maturity of said NCDs will be May 6, 2024.

Airtel Business, the B2B unit of Bharti Airtel has launched its Customer Advisory Board with the objective of making its customers equal stakeholders in its product development journey. The Board will have representation from Airtel's top enterprise customers cutting across a diverse set of industries/sectors.