JK Tyre plans to raise up to Rs 1000 cr via securities and other top corporate news of the day

India Infoline News Service | Mumbai | December 29, 2016 09:05 IST

Businessman-sitting-on-bench, News
Zydus Discovery DMCC, a research subsidiary of Cadila Healthcare, has been pulled up by the US FDA for misbranding Saroglitazar, its drug used in India to treat diabetic dyslipidemia and hypertriglyceridemia, in a promotional YouTube video. (ET)
ICICI Bank, which had attempted to auction the asset with a built-up area of 41,000/sq ft twice before, expects to raise Rs2.40bn from selling it off. (ET)
Hinduja Group flagship Ashok Leyland has launched Oyster staff bus in Saudi Arabia, the third product from India's second largest commercial vehicle manufacturer in the kingdom in six months. (ET)
State Bank of India rejected reports that Rs13bn cash have been deposited in its various branches in Arunachal Pradesh after demonetisation saying no such deposits were found after minutely verifying the relevant records. (ET)
Zydus Cadila announced that its wholly-owned subsidiary, Zydus Healthcare Limited, has acquired six brands from American pharma player MSD and its subsidiaries in India. (BL)
Zydus Pharmaceuticals USA Inc is recalling over 16 thousand bottles of Bupropion Hydrochloride tablets manufactured by Cadila Healthcare on account of failure to meet the desired dissolution specifications. (BS)
JK Tyre & Industries said its board has given approval to raise up to Rs10bn by issuing securities. (BS)
JMC Projects (India) Ltd said it has bagged new construction projects worth over Rs14.57bn. (BS)
India Inc raised a whopping Rs386.45bn in November through private placement of corporate debt bonds, a surge of 57% from the year-ago level, for business expansion and propping up working capital requirements. (BS)