Govt approves Rs8.10bn capital infusion in UBI and top corporate news of the day

India Infoline News Service | Mumbai | September 23, 2016, 08:37 IST

Check out the most important news stories which captured the headlines at the corporate level in India and internationally.

Newspaper
Aurobindo Pharma has received tentative approval from the USFDA to manufacture and market Dolutegravir, used for the treatment of HIV, in the US market.
 
With the government approving Rs8.10bn capital infusion in United Bank of India, the bank is now faced with the task of reducing a large chunk of government shareholding. (BS)
 
Dues of power generation companies payable to Coal India declined to about Rs118.46bn in August from Rs136.84bn in April. However, the disputed amount increased to Rs16.49bn from Rs18.09bn during the period. (ET)
 
Nestle plans to challenge Ferrero and Mondelez in the premium chocolate market in India by launching pricier variants and brands from its global portfolio. (ET)
 
Larsen & Toubro has entered into a pact, valued at USD99.7mn (around Rs6.60bn), with Vietnam Border Guard for design and construction of high speed patrol vessels. (BL)
 
Lincoln Pharmaceuticals has launched Ondansetron oral spray, used for treatment of nausea and vomiting caused by surgery or cancer drugs, in the Indian market. (ET)
 
UPL has divested its entire stake in its joint venture United Phosphorus (Bangladesh) as part of the company's plan to reorganise its overseas businesses. (ET)
 
Edelweiss said one of its group firms will acquire Ambit Alpha Fund for an disclosed sum. (BS)
 
Sadbhav Infrastructure Project Ltd has raised Rs2bn in the first tranche through issuance of non-convertible debentures (NCDs) on private placement basis. (BS)
 
Vedanta has signed the concession agreement for Rs11.45bn redevelopment project of the Mormugao port in Goa. (BS)
 
Bharat Petroleum Corp (BPCL) is looking at buying more stakes in oil and gas assets that are already producing to speed up investment returns. (BS)
 
Proxy advisory firms see red over Larsen & Toubro Ltd (L&T)'s generous stock options issues to its top management during the listing process of its two subsidiaries - L&T Infotech Ltd and L&T Technology Services Ltd. (BS)

 

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