Tata Steel to acquire Brahmani River Pellets, and other top corporate news of the day

India Infoline News Service | Mumbai | December 26, 2016 08:57 IST

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

Tata Steel has signed an agreement to acquire Brahmani River Pellets Ltd (BRPL) for Rs9bn in cash. (BL)
Reliance infrastructure has exited India Energy Exchange, selling its stake in the country's largest power trading platform, for Rs1.03bn. (ET)
Camlin Fine Sciences said it is acquiring 51% stake in Ningbo Wanglong Flavors and Fragrances Company Ltd. (BL)
ONGC will pay over USD1.2bn for buying GSPC's entire 80% stake in KG-basin natural gas block, which is struggling to start commercial production despite trial outputs starting nearly two-and-half years back. (ET)
Welspun Enterprises Ltd (WEL) is looking to divest its entire 15.49% stake in Welspun Energy. (BS)
Cipla's respiratory portfolio received a boost with the UK drug regulator approving its key asthma inhaler. The inhaler will be launched within the next few weeks. (BS)
Balrampur Chini Mills has got environment clearance for expansion of its Babhnan unit of distillery and co—generation power in Uttar Pradesh, entailing Rs720mn investment. (BL)
Sun Pharma subsidiary has invested USD13mn (about Rs880mn) in the US-based scPharmaceuticals Inc. (BL)
Alkem Labs Daman manufacturing plant has obtained the Establishment Inspection Report (EIR) from US health regulator USFDA. (BL)
ICICI Bank has launched a mobile application for merchants that allows consolidation of all modes of payments, including digital wallets, Unified Payments Interface (UPI), QR code, and credit & debit cards. The app, eazypay, which is designed for business, allows multiple users to connect to the same account. This makes it possible to be used for cash-on-delivery payments. (ET)
Wipro has agreed to pay a civil money penalty worth USD5mn to the US Securities and Exchange Commission (SEC) to resolve a six-year-old investigation on account of embezzlement of funds by an employee. (BS)
The US Food and Drug Administration (USFDA) has issued form 483 with five observations against Divi's Laboratories' unit at Chippada Village in Visakhapatnam of Andhra Pradesh following an inspection, which concluded on December 6. (BS)



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