Reliance Industries (RIL) will be in focus. Reliance Marcellus II, LLC, a subsidiary of Reliance Holding USA, Inc. (Reliance) and RIL announced the signing of agreements to divest all of its interest in certain upstream assets in north-eastern and central Pennsylvania. The assets, which are currently operated by Carrizo Oil & Gas, Inc., were sold to BKV Chelsea, LLC, an affiliate of Kalnin Ventures LLC, for consideration of $126 million, subject to customary closing terms and conditions. Additionally, Reliance could receive contingent payments of up to $11.25 million in aggregate based on natural gas prices exceeding certain thresholds over the next three years. The assets produce mainly gas and are located in Susquehanna, Wyoming and Clearfield Counties of Pennsylvania.
The sale of the assets will be consummated in accordance with the terms of a purchase and sale agreement, dated 5 October 2017, by and between Reliance and the buyer. The transaction is anticipated to close by the end of the third quarter of FY2018, with a 1 April 2017 effective date. The announcement was made after market hours on Friday, 6 October 2017.
Axis Bank said it has completed the acquisition of Freecharge for a cash consideration of Rs 373.27 crore, on a cash-free, debt-free basis pursuant to the receipt of approval for the said transaction from the Reserve Bank of India (RBI). The announcement was made after market hours on Friday, 6 October 2017.
Axis Bank had earlier entered into a share purchase agreement with Jasper Infotech (Snapdeal) to acquire 100% equity capital of both Accelyst Solutions (Accelyst) & Freecharge Payment Technologies (FPTPL). Accelyst and FPTPL are collectively referred to as Freecharge.
State Bank of India has issued clarification on Saturday, 7 October 2017, with respect to news article titled massive data breach hits 6,000 Indian organisations including govt offices, banks: Quick Heal. The bank said that the breach mentioned in the report has been refuted by NIXI (National Internet Exchange of India). This article is published in another report on 4 October 2017 wherein NIXI has clarified that there was no serious security breach of the Indian registry database as claimed by a hacker on the Darknet. However, the bank's Information Security Department is continuously monitoring for any attack, it added.
Lovable Lingerie announced that the board of directors of the company at its meeting held on 6 October 2017, approved buy-back of up to 20 lakh fully paid up shares, representing up to 11.9% of the total paid-up equity share capital of the company at a price of Rs 250 per share for a total consideration of up to Rs 50 crore. The promoter and members of the promoter group have indicated their intention to participate in the buyback. The announcement was made on Friday, 6 October 2017.
Oriental Bank of Commerce said that the Reserve Bank of India vide its letter dated 5 October 2017 has put the bank under Prompt Corrective Action in view of high Net non performing assets (NPA). This action will not have any material impact on the performance of the bank and will contribute in overall improvement in its risk management, asset quality, profitability and efficiency. The bank announced on Saturday, 7 October 2017.
JMC Projects said that Brij Bhoomi Expressway Pvt. Ltd., one of its wholly owned subsidiary (SPV) has received Arbitration Award of Rs 42.26 crore for the project of '2 Laning with paved shoulder of Agra to Aligarh section of NH-93 in Uttar Pradesh on design, build, finance, operate and transfer (DBFOT) under NHDP phase IV A. The project work was awarded to the said SPV by National Highway Authority of India (NHAI) in the year 2010 with concession period of 15 years from the appointed date which includes construction period of 2 years. The announcement was made on Saturday, 7 October 2017.
Cadila Healthcare has received the final approval from the USFDA to market Amitriptyline Hydrochloride Tablets USP in strengths of 10 mg, 25 mg, 50 mg, 75 mg, 100 mg and 150 mg. The announcement was made on Saturday, 7 October 2017.
Separately, Cadila has received final approval from the USFDA to market Dutasteride Capsules, 0.5 mg. It will be manufactured at the group's formulations manufacturing facility at Moraiya, Ahmedabad.
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