Shilpa Medicare, Sun Pharma and M&M to see some action today

Shilpa Medicare’s finished dosage formulation facility (Sterile and Non-sterile) located at S-20 to S-26, Pharmaceutical Formulations SEZ, TSIIC, Jadcherla, Telangana State, India has been issued GMP certification fy Ministry of Industry and Trade of the Russian Federation for the GMP inspection held from February 22, 2021 to February 26, 2021. There were No Critical, Major and Minor observations found during GMP inspection process. The GMP certificate is valid for three years until April 2024.

Sun Pharmaceutical Industries has acquired the rights to trademarks of diabetes drug Dapagliflozin under brands Oxra, Oxramet and Oxraduo in India from AstraZeneca AB, Sweden, parent company of AstraZeneca Pharma India with effect from May 28, 2021. The company has also taken a patent license to manufacture and commercialise Dapagliflozin and Dapagliflozin with Metformin combination in India from AstraZeneca AB with effect from May 28, 2021.

Mahindra & Mahindra (M&M) is planning to deploy Rs 17,000 crore over the next three years, including capex on new models and investments in group companies besides its auto and farm sector businesses. The company plans to launch total 23 models in passenger vehicles segment and light commercial vehicles (LCV) category by 2026 and 37 models in the farm equipment vertical under its Project K2 by 2024-25.

Canara Bank’s board has approved the capital raising plan for the year 2021-22 amounting up to Rs 9,000 crore by way of equity and debt instruments. Under this capital raise approval, the bank will raise equity capital amounting up to Rs 2,500 crore by way of qualified institutional placement (QIP) during the current fiscal. Capital up to Rs 4,000 crore is to be raised by issuing additional tier I Basel III compliant bonds, and the rest of Rs 2,400 crore is to be raised by issuing additional tier II Basel III compliant bonds.The board of directors of the bank in its meeting held on May 28, 2021 approved the same. 

Phoenix Mills and Canada Pension Plan Investment Board (CPP Investments) have executed definitive documents for a new joint venture to develop a regional retail centre in Alipore, Kolkata. CPP Investments is going to invest approximately Rs 5.6 billion (C$93 million) in Mindstone Mall Developers (Mindstone) in tranches, for an ultimate equity stake of 49%.

UCO Bank is aiming at a growth of 7-10 per cent in the current fiscal amid the second round of restructuring guidelines from the regulator due to the second wave of COVID-19 disruptions. The bank also allotted 203.76 lakh shares to the government at Rs 12.76 per share against Rs 2,600 crore infusion in the bank. The bank board had also approved a further capital raising plan of Rs 3,000 crore in 2021-22.

Onmobile Global has launched new B2B gaming product, Challenges Arena, a single destination of casual challenges that provides an unparalleled gamified experience. Challenges Arena offers an immersive experience for gamers to play and compete on quizzes and various theme-based challenges with a real-time rank and leader-board.