RIL, Dr. Reddy's Labs, SBI to be watched

Reliance Industries (RIL) on Saturday (26 September 2020) announced that its subsidiary, Reliance Retail Ventures, had received the subscription amount of Rs 7,500 crore from SLP Rainbow Holdings (Silver Lake). Reliance Retail Ventures has allotted equity shares to SLP Rainbow Holdings following which SLP Rainbow Holdings holds 1.75% of the fully diluted equity share capital of Reliance Retail Ventures, RIL said in a statement.

Dr. Reddy's Laboratories on 26 September 2020 announced the launch of Dimethyl Fumarate delayed-release capsules, a generic version of Tecfidera, approved by the US Food and Drug Administration (USFDA). Dr. Reddy's Dimethyl Fumarate delayed-release capsules are available in 120 mg and 240 mg capsules in bottle count sizes of 14 and 60 capsules, respectively. The drug is used to treat adults with various forms of multiple sclerosis.

State Bank of India (SBI) said the board will on 30 September 2020 consider raising additional AT1 bonds to the extent of Rs 5,000 crore by way of issuance of Basel III compliant debt instruments in INR, within the overall capital plan earlier approved by the board for raising equity during FY 2021.

Indoco Remedies on 26 September 2020 announced the launch of Fevindo (Favipiravir) 400 mg tablets in India. Fevindo-400 (Favipiravir) is an antiviral drug, effective against the RNA-based influenza virus. The drug has been approved by DCGI in the treatment of Covid-19. The drug reduces pill burden by 50% and ensures convenient dosing and better patient compliance, the company said in a statement.

State-run National Aluminium Company (NALCO) signed a memorandum of understanding (MoU) with Numaligarh Refinery (NRL) on 24 September 2020 for long term supply of Calcined Petroleum Coke (CPC) to ensure raw material security.

State-owned Life Insurance Corporation (LIC) of India has purchased 1.33 crore equity shares (2.033% equity) of Grasim Industries. Following the transaction, LIC has increased its shareholding in Grasim Industries to 11.864% from 9.831% earlier. The transaction took place through open market purchases between 14 May 2019 and 24 September 2020.

JSW Energy on Friday said its subsidiary, JSW Solar, received letter of awards for total blended wind capacity of 810 MW from Solar Energy Corporation (SECI).

CEAT on Friday (25 September 2020) said that its board approved raising Rs 250 crore through issue of 2,500 non-convertible debentures (NCDs) on a private placement basis, in one or more tranches. Further, the board also authorized the finance and banking committee of the company to approve the further raising of funds upto Rs 250 crore (over and above the raising of funds of Rs 250 crore) through issuance of NCDs on private placement basis, in one or more tranches.

Central Bank of India said that the capital raising committee of the board approved the closure of the qualified institutions placement (QIP) issue on 25 September 2020. The committee approved the issue price of Rs 15.38 per share for an aggregate value of Rs 255 crore to be allotted to eligible qualified institutional buyers in the QIP.

NCL Industries on Friday (25 September) said it has terminated the joint venture agreement with China's Qingdao Xinguangzheng Steel Structure Company.

Powered by Capital Market - Live News