Bank of Baroda, Manali Petrochemicals and Infosys to see some action today

Bank of Baroda has received approval for raising of long term bonds for financing of infrastructure and affordable housing aggregating to total size upto Rs 10,000 crore in single or multiple tranches during FY 2024-25 and beyond if found feasible. The Board of Directors of the Bank at its meeting held on December 18, 2024 interalia considered & approved the same. 

Manali Petrochemicals has executed a Memorandum of Understanding on December 18, 2024 (MoU) with Fermenta Biotech (FBL) to acquire lease and related rights of FBL, through assignment, on the leased premises situated at Saykha Industrial Estate, Gujarat admeasuring at an extant of 40,000 sqm for a consideration of Rs 18.70 crore on the terms and conditions specified in the said MoU, subject to execution of further definitive agreements and approval of Gujarat Industrial Development Corporation. 

Infosys has inaugurated its new 320,000 sq. ft. development center (DC) in Kolkata, West Bengal. This state-of-the-art facility with an investment of over Rs 426 crore is designed to accommodate over 4,000 employees in a hybrid working model. The center will provide employees greater flexibility and enable them to work on cutting-edge technologies such as cloud, AI, and digital, across a diverse range of industries, including manufacturing, logistics, financial services, energy & utilities.

Wipro has incorporated step-down subsidiary namely ‘Capco Consulting Middle East FZE’ in Dubai with effect from December 17, 2024. The company has incorporated step-down subsidiary to explore new business opportunities in the United Arab Emirates for providing management consulting services and related activities.

Veerhealth Care has introduced new marketing division of hospital care segment. Under this new division, the company has associated with a leading manufacturer and exporter of Anesthesia Delivery Equipment, Air Compressors and Ambulances. This manufacturing Company mainly caters in the field of Operating Room, Critical Care, Life Support, Imaging and Mobile Healthcare.

FDC has received final approval from U.S. Food and Drug Administration (USFDA) for the Company’s Abbreviated New Drug Application (ANDA) for Cefixime 400 mg Tablets. In November 2024, FDC recalled 1,55,232 bottles of Timolol Maleate ophthalmic solution in the US market. The company recalled the affected lot due to ‘Defective Container: Unable to get the solution out of the bottle as the spike of the cap was lodged in the nozzle of the product bottle.’

Vakrangee (VL) has entered into an agreement with Canara Bank as Corporate Business Correspondent (CBC) for offering Banking Services through Vakrangee Kendra networks. Through this collaboration, Vakrangee’s extensive network of Kendras will deliver a comprehensive suite of banking services to underserved and unbanked communities in the East Zone parts of the Bank. This alliance will enhance rural banking infrastructure, ensuring seamless access to essential financial services in the remotest and most underserved areas.