Glenmark Pharma approved to spin off the innovation business into a new company in the USA. This new company will focus on the areas of immunology, oncology and pain management.
Jet Airways said its board had approved a rescue deal which will make its lenders its largest shareholders and fix a near Rs8,500cr ($1.2bn) funding gap. With debts of more than $1bn, Jet has struggled over the last year as competition intensified, the rupee depreciated and high oil prices hurt margins.
EID Parry, Balrampur Chini, Dhampur Sugar stock in focus today after media the government on Thursday hiked the minimum selling price (MSP) of sugar by Rs2 per kg to Rs31 to help millers clear farmers' dues.
Kridhan Infra’s Singapore arm received construction order worth Rs187cr for a sports centre.
PNC Infratech arm received financial closure from NHAI for HAM Project in Uttar Pradesh whose bid cost was Rs2,159cr. The company said that after this financial closure (the seventh), no other financial closures were pending as on date.
Siemens India said it will sell its leasehold interest in Gujarat property for Rs193.5cr to LM Wind Power Blades. The company said that this proposal in subject to receipt of statutory and regulatory approvals and signing of form agreements between both parties.
JK Kumar Infra received order worth Rs445cr for Mumbai Metro Rail Project.
CG Power Industrial Solutions board in principal has approved the proposal of the merger of arm ‘CG Power Solutions’ with the company. Final proposal will be provided in due course of time says the company.