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18-May2018

RIL, Sun Pharma and Quess Corp to see some action today

Reliance Industries' (RIL) telecom arm - Reliance Jio Infocomm (Jio) has entered into exclusive partnership for the Indian market with Screenz, the most powerful platform for entertainment-based interactivity used by world's top broadcasters and format owners. With this exclusive partnership, Jio Screenz will become the largest platform and one of the only integrated providers of entertainment-based gamification in India.

Sun Pharmaceutical Industries through one of its wholly owned subsidiaries has launched in US, the Authorized Generic (AG) version for Daiichi Sankyo Inc.'s Welchol (colesevelam hydrochloride) 625mg tablets. Welchol Tablets recorded US sales of approximately $520 million for the 12 months ending March 2018, as per IQVIA.

Quess Corp has received approval for further investments in two entities, through its wholly owned subsidiary - Quesscorp Holdings, Singapore. The board of directors at its meeting held on May 17, 2018 has approved for the same. The company has received approval to acquire 36% equity in Comtel Solutions, Singapore with an investment of up to SGD 22 million and acquisition of 49% equity in ComtelPro, Singapore with an investment of up to SGD 500,000.

Godrej Agrovet's subsidiary - Creamline Dairy Products (CDPL), as a part of its expansion plans, intends to invest Rs 400 crore in three greenfield milk processing plants in Tamil Nadu, North Karnataka and Maharashtra over the period of next three years. CDPL had recently acquired a processing plant in Tirunelveli, Tamil Nadu and is in the process of setting up another plant in Vishakhapatnam.

Titagarh Wagons has reiterated its commitment towards the Government's vision of 'Make in India', by successfully launching the first of the four vessels being built for Indian Navy and Ministry of Earth Sciences respectively. On May 09, 2017, Titagarh had successfully started the construction of two 1000T fuel barges for Indian Navy and two Coastal Research Vessels for National Institute of Ocean Technology at their Titagarh Shipyard at B.T. Road near Kolkata.

Praj Industries has received a Letter of Acceptance (LoA) from Indian Oil Corporation (IOCL) for their upcoming 2nd generation biorefinery project located in Panipat, Haryana. This project will have the production capacity of 100 kilo liter per day of ethanol from biomass such as rice straw. Praj's scope for the said project comprises license of proprietary technology, design package and project management services (EPCM) for a value of Rs 38.7 crore. This is further to the MOU entered between Praj and IOCL in September 2016.

Reliance Power has transferred its entire holding of 1,49,900 Equity Shares of Rs 10 each, aggregating to Rs 14,99,000 held in Jharkhand Integrated Power, a Special Purpose Vehicle (SPV) created for development of Tilaiya UMPP, to Jharkhand Urja Vikas Nigam, the Lead Procurer, acting on behalf of Procurers of Tilaiya UMPP. The consideration received from this sale is Rs 112.64 crore.



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