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14-Sep2018

Sun Pharm, NBCC and Voltas to see some action today

Sun Pharmaceutical Industries and Sun Pharma Advanced Research Company received approval from US Food and Drug Administration (USFDA) for the New Drug Application (NDA) of XELPROS (latanoprost ophthalmic emulsion) 0.005% for the reduction of elevated intraocular pressure (IOP, or pressure inside the eye) in patients with open-angle glaucoma or ocular hypertension. This approval is from Sun Pharma's Halol (Gujarat, India) facility.

NBCC will buy out 100 percent government stake in consultancy firm HSCC for Rs 285 crore. The government last October invited bids from similarly placed central public sector enterprises (CPSEs) for buying out entire 100 percent stake in HSCC, along with management control. Thereafter in June 2018, NBCC had submitted financial bid for buying HSCC.

Voltas and its Turkish JV partner Arcelik would invest Rs 1,000 crore in the next four-five years to set up a home appliances plant in Gujarat, and in marketing activities. The company is looking to corner around 10 percent of the market share and to generate a revenue of Rs 10,000 crore in the next seven-eight years in the home appliances segment, which is quite competitive now.

Syndicate Bank's board has approved a proposal to raise up to Rs 250 crore by issuing shares to its employees under the employee stock purchase scheme. The money would be raised in one or more tranches.

Wipro has entered into partnership with Anaplan, a pioneer in Connected Planning, to deliver cloud-based Enterprise Performance Management (EPM) solutions that will simplify and automate core enterprise functions for clients, across industry sectors. As part of this alliance, the company will leverage its strong consulting and execution expertise to deploy Anaplan's Connected Planning platform across customers' business functions.

Jain Irrigation Systems (JISL) has acquired ETwater, innovator of intelligent irrigation technology and in the vanguard for creation of the smart irrigation controller. ETwater is dedicated to helping solve the real world problems of water scarcity that made them a perfect acquisition for the company.

Engineers India (EIL) will bid to acquire government's 100 percent stake in Projects and Development India Ltd (PDIL).


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