Wipro and Indian Institute of Technology, Kharagpur (IIT Kharagpur) signed a memorandum of understanding (MOU) to collaborate on high-impact, industry-focused applied research in the areas of 5G and artificial intelligence (AI). Research outcomes from this partnership will be leveraged by Wipro to develop solutions for its customers, across industry verticals. IIT Kharagpur will benefit from the commercialization of the joint research insights and Wipro's real-world industry expertise. The announcement was made after market hours yesterday, 28 March 2019.
WABCO India said that its US-based ultimate parent company, WABCO Holdings Inc., announced that it has entered into a definitive merger agreement with ZF Friedrichshafen AG ("ZF"), a privately held global leader in driveline and chassis technologies. Under the agreement, ZF will acquire all outstanding shares of WABCO Holdings Inc., for $136.50 per share in an all-cash transaction for an equity value of over $7 billion. The transaction is expected to close in early 2020. The announcement was made after market hours yesterday, 28 March 2019.
Tata Power signed the power purchase agreement (PPA) with Brihanmumbai Electric Supply and Transport Undertaking, for 676.69 MW of power supplied from its Trombay Thermal and hydro plants, for a period of five years from 1 April 2019 to 31 March 2024. Further, a PPA was also signed by distribution business of Tata Power with its generation arm for 700 MW to be supplied from its Trombay Thermal and hydro plants, for a period of five years from 1 April 2019 to 31 March 2024. The announcement was made after market hours yesterday, 28 March 2019.
Lupin announced the launch of Fluocinonide Ointment USP, 0.05%, having received an approval from the United States Food and Drug Administration (USFDA) earlier. Lupin's Fluocinonide Ointment USP, 0.05%, is the generic version of County Line Pharmaceuticals LLC's Lidex Ointment 0.05%. It is indicated for the relief of the inflammatory and pruritic manifestations of corticosteroid responsive dermatoses. Fluocinonide Ointment USP, 0.05% (RLD: Lidex) had annual sales of approximately $15 million in the U.S (IQVIA MAT January 2019). The announcement was made after market hours yesterday, 28 March 2019.
HIL announced that Parador (Shanghai) Flooring Trading Co., China, a joint venture of Parador GmbH, Germany (step down subsidiary of HIL International GmbH, Germany), has opened its first showroom in Shanghai with its state of art the digitally led distribution system for premium wooden products of Parador and has also participated and displayed Parador products range in 'Domotex', one of the largest wooden flooring exhibition. This will help the Parador to expand its business aggressively in China. The announcement was made after market hours yesterday, 28 March 2019.
Andhra Bank said that on 28 March 2019 it allotted 114.56 crore equity shares at Rs 28.42 each to Government of India on preferential basis. After the said allotment, Government of India's holding in the bank has been increased from 84.83% to 90.85%. The announcement was made after market hours yesterday, 28 March 2019.
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