Page 2453 - Company News
Work on non-Covid vaccines gives pharma firms an injection of hope
Approach drug regulator, seeking permission to conduct clinical trials
 "Work on non-Covid vaccines gives pharma firms an injection of hope")
Delhi court gives police three weeks to conclude Paytm ownership probe
Ashok Kumar Saxena, 71, said in legal documents that he had invested $27,500 in Paytm parent One97 Communications two decades ago, but was never allotted any stock
 "Delhi court gives police three weeks to conclude Paytm ownership probe")
Cement maker Nuvoco Vistas lists at a steep discount to issue price
Post listing, the company commands a market capitalisation of Rs 18,975 crore
 "Cement maker Nuvoco Vistas lists at a steep discount to issue price")
Correction in metals may provide buying opportunity for investors
If demand remains good, investors can purchase at moderate valuations
 "Correction in metals may provide buying opportunity for investors")
16 merchant banks in fray for lead managers to LIC IPO, govt may choose 10
The entities will have to make a presentation to DIPAM on August 24-25
 "16 merchant banks in fray for lead managers to LIC IPO, govt may choose 10")
Hindalco Industries earmarks capex growth of $2.5-$3 billion over 5 years
Part of the capex will be deployed towards Novelis' business regions in auto-finishing lines expansion in the US and China
 "Hindalco Industries earmarks capex growth of $2.5-$3 billion over 5 years")
NAA agrees to withdraw name of Subway Systems in order against franchisee
This may set a precedent wherever franchisers are named as respondents in a case against franchisees
 "NAA agrees to withdraw name of Subway Systems in order against franchisee")
Jio adds 5.5 mn users in June; Vodafone Idea sheds 4.3 mn customers
Overall telephone subscribers in India rose from 1,198.5 million at the end of May 2021 to 1,202.57 million the following month, up 0.34%
 "Jio adds 5.5 mn users in June; Vodafone Idea sheds 4.3 mn customers")
Indian Hotels to raise Rs 3,000 cr via rights issue for capex, pruning debt
Tata Group's hospitality arm has been using rights issues for fund raising regularly. It raised Rs 1,500 cr in April 2017, Rs 1,000 cr in January 2016 and Rs 844 crore in Feb 2008
 "Indian Hotels to raise Rs 3,000 cr via rights issue for capex, pruning debt")
Tata Sons seeks shareholders' approval to raise Rs 40,000 crore in debt
The shareholders will vote on the proposal on September 14 at the company's annual general meeting
 "Tata Sons seeks shareholders' approval to raise Rs 40,000 crore in debt")
Sebi puts Gemini Edibles & Fats India's Rs 2,500-crore IPO in 'abeyance'
Without disclosing the reason, Sebi said "issuance of observations kept in abeyance" with regard to the IPO of Gemini Edibles & Fats India according to an update on the Sebi's website as of August 20
 "Sebi puts Gemini Edibles & Fats India's Rs 2,500-crore IPO in 'abeyance'")
ACME Group to set up green ammonia, green hydrogen facility in Oman
ACME Group on Monday said it has signed a land agreement to set up a $3.5 billion green ammonia project at Special Economic Zone at the Port of Duqm in Oman.
 "ACME Group to set up green ammonia, green hydrogen facility in Oman")
Vedanta makes natural gas discovery in Gujarat block won in OALP round
Billionaire Anil Agarwal's Vedanta on Monday said it has made a natural gas discovery in a block in Gujarat that it had won in the open acreage licensing policy (OALP) round
 "Vedanta makes natural gas discovery in Gujarat block won in OALP round")
Maruti Suzuki to take 'appropriate action under law' on CCI penalty
Maruti Suzuki India Ltd said it is examining and will "take appropriate actions under law" with regards to an order by CCI
 "Maruti Suzuki to take 'appropriate action under law' on CCI penalty")
CCI imposes Rs 200 cr penalty on Maruti Suzuki over dealer discount policy
CCI has asked Maruti to 'cease and desist' from indulging in such practices and asked the company to deposit the fine within 60 days
 "CCI imposes Rs 200 cr penalty on Maruti Suzuki over dealer discount policy")
Eicher Motors re-appoints Siddhartha Lal as MD, revises pay structure
Board clarified that the pay hike for MD is in line with average employee's 9.7%; revised remuneration structure, with a maximum cap at 1.5 per cent of profits
 "Eicher Motors re-appoints Siddhartha Lal as MD, revises pay structure")
Siddhartha Lal, voted down by Eicher shareholders, gets Enfield staff backing
While extending support on the re-appointment, Sampath, vice-president, Royal Enfield Employees Union, was critical of the way employees unions are treated
 "Siddhartha Lal, voted down by Eicher shareholders, gets Enfield staff backing")
Pfizer to acquire cancer drugmaker Trillium Therapeutics for $2.3 bn
Pfizer will pay $18.50 a share for Cambridge, Massachusetts-based Trillium, the companies said Monday in a statement.
 "Pfizer to acquire cancer drugmaker Trillium Therapeutics for $2.3 bn")
Portea Medical elevates Meena Ganesh as chairperson; Vaibhav Tewari is CEO
The new appointments have been made to further synergise and streamline Portea's operations in the new normal, and activate the 2023 growth strategy of the organisation
 "Portea Medical elevates Meena Ganesh as chairperson; Vaibhav Tewari is CEO")
Zydus Cadila gets USFDA nod for arthritis drug with 180-days exclusivity
Drug firm Zydus Cadila said it has received final approval from the US health regulator to market Tofacitinib extended-release tablets, used to treat rheumatoid arthritis, in the American market
 "Zydus Cadila gets USFDA nod for arthritis drug with 180-days exclusivity")