Tata Power in may be in action

Tata Power Company said Adjaristsqali Georgia LLC (AGL), a Joint Venture (JV) between Tata Power, Norway's Clean Energy Invest (CEI) and International Finance Corporation (IFC) announced the start of commercial operation of the 178 MW Shuakhevi Hydro Power Project (Shuakhevi HPP) located in southwest Georgia. Tata Power holds 40% shares in the Joint Venture

Sun Pharmaceutical Industries informed that the company received a communication from the USFDA indicating that the Halol facility has been classified as Official Action Indicated (OAI). The OAI classification implies interalia that the USFDA may withhold approval of any pending product applications or supplements filed from this facility till the outstanding observations are resolved. The company continues to manufacture and distribute existing products for the US market, thereby not likely to have any adverse impact on current business from the facility.

Delta Corp said its board approved a proposal to buyback shares worth up to Rs 125 crore at a price not exceeding Rs 100 per share.The company said it will utilise at least 50% of the amount earmarked as the maximum buyback size for the buyback. Based on the minimum buyback size and maximum buy-back price, the company would purchase a minimum of 62.50 lakh equity shares.

BASF India said Karnataka Appellate Tribunal granted stay on recovery of tax demand worth Rs 52.17 crore pertaining to period 2010-11 (10 months).

Lupin and Mylan N.V. announced that the European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP) has adopted a positive opinion recommending the approval of Nepexto, a biosimilar to Enbrel (etanercept), for all indications of the reference product including rheumatoid arthritis, juvenile idiopathic arthritis, psoriatic arthritis, axial spondyloarthritis (including ankylosing spondylitis and non-radiographic axial spondyloarthritis), plaque psoriasis and paediatric plaque psoriasis.

Deepak Fertilisers & Petrochemicals Corporation announced that it was forced to stop production in its fertiliser unit at Taloja in Maharashtra for last two days due to evacuation problems arising out of non-availability of transport and manpower for evacuation of finished goods from the plant.

Aditya Birla Fashion and Retail (ABFRL) announced shut-down due to Novel Coronavirus (COVID-19). The company said it will extend the shut-down period, if required, in accordance with the directives of State and Central Governments from time to time.

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