Sharika Enterprises has received approval for the acquisition of 60% stake in Contronics Switchgear India to make it a subsidiary of the Sharika Enterprises. The objective of acquisition is to expand its product portfolio by adding the expertise of Contronics Switchgear India in electrical panel manufacturing. The process for acquisition of stake has been initiated and will be completed within a reasonable period. The Board of Directors of the Company at their meeting held on June 28, 2024, has approved the same.
Zydus Lifesciences has executed a licensing agreement with Dr. Reddy’s Laboratories to co-market Pertuzumab biosimilar in India. Pertuzumab is a critical treatment for HER2 positive breast cancer patients. The biosimilar has been developed in-house by the research team at the Zydus Research Centre (ZRC). Under the terms of this agreement, Dr. Reddy’s will receive semi-exclusive rights from Zydus to co-market the product in India. The product will be marketed by Zydus under the brand name Sigrima. Dr. Reddy’s will market it under the brand name Womab. Zydus will receive upfront licensing income and is eligible to receive milestone income based on achievement of pre-defined milestones.
JSW Energy’s wholly owned subsidiary -- JSW Neo Energy (JSW Neo) has received Letter of Award (LoA) for setting up 300 MW ISTS-connected Wind-Solar Hybrid Power Project from SJVN against Tariff based Competitive Bid invited for setting 1,500 MW ISTS-connected Wind-Solar Hybrid Power Projects (Hybrid-2). Subsequent to this capacity award, the company's total locked-in capacity increases to 13.9 GW. The company expects to have an installed generation capacity of 9.8 GW by CY24, up from 7.3 GW currently. With this hybrid project, the company further strengthens its energy solution offerings while moving towards an energy products and services company.
Aurobindo Pharma’s wholly owned step-down subsidiary -- Agile Pharma BV, The Netherlands, has acquired entire share capital of Ace Laboratories, UK, and made it a wholly owned subsidiary of Agile Pharma BV, The Netherlands. The acquisition is largely for the captive purposes of the company’s business requirements in the European region. Based on capacity utilization, additional external revenue will also add to company’s revenue stream. The cost of acquisition is Rs 17.91 crore on debt free basis.
Capacite Infraprojects has raised Rs 24.50 crore through the allotment of senior, secured, unrated, unlisted, redeemable and non-convertible debentures (NCDs) of face value of Rs 1,000,000 each on private placement basis. The Finance Committee of the Board of Directors of the company in their meeting held on June 28, 2024, allotted the same.
GE Power India has received purchase orders worth Rs 12.06 crore. Out of the total, the company has received first order worth Rs 6.07 crore (plus GST 18%) from NTPC for Servicing of Generator. The company has received second order worth Rs 5.99 crore (plus GST 18%) from Maharashtra State Power Generation Company for Supply of Reheater rear pendent coils assembly for Unit 3&4 Khaperkheda TPS.
Godrej Properties has acquired leasehold rights for around 11-acre land parcel in Hinjewadi, Pune, offering developable potential of around 2.2 million square feet with an estimated revenue potential of around Rs 1,800 crore. The development on this land will comprise primarily Group Housing and High Street Retail.
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