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GMR Infrastructure Limited announces Strategic Group Restructuring to unlock value & simplify corporate holding structure

The Board of GMR Infrastructure Limited (GIL) together with other Group companies - GMR Power Infra

The Board of GMR Infrastructure Limited (GIL) together with other Group companies - GMR Power Infra Limited (GPIL) and GMR Power and Urban Infra Limited (GPUIL) -today announced a composite Scheme of Arrangement involving vertical split demerger of the NonAirport Business (Energy, EPC, Urban Infrastructure, etc.) of GIL into GPUIL, as a going concern, along-side amalgamation of GPIL with GIL, as a step preceding demerger.

Separate listing of both the Airport and Non-Airport Businesses will also help in simplifying the corporate holding structure. The vertical split demerger will go a long way in facilitating deeper understanding of the Airport Business independently as compared to other business verticals within the Group.

Key Highlights of Scheme of Arrangement

• Demerger of the Non-Airport Business of GIL into GPUIL as a going concern.

• Scheme to create Mirror shareholding of GIL in GPUIL with all existing shareholders of GIL becoming shareholder of GPUIL in the same proportion. Scheme envisages issue of 1 additional share of Rs.S/­ each of GPUIL for every 10 shares in GIL of Re.1/- each as on the record date.

• Post the Scheme, GIL to emerge as India's Only Pure-Play Listed Airports Company. All existing shareholders of GIL to continue their same shareholding in GIL.

• Scheme also envisages amalgamation of GPIL with GIL as a step preceding demerger.

• The appointed date for the Scheme, being the date on which the undertakings shall vest in the respective resulting companies, has been fixed at April 1, 2021.

Strategic Rationale for Separating Airport Business

• Over the last few decades, GMR has significantly grown and diversified into multiples segments within the broader infrastructure space viz. Airports, Energy, Urban Infrastructure, SEZ, EPC, etc.

• At an initial stage of growth journey, a combined housing of various segments was required to incubate, seed, ramp-up and grow them, both from management and funding perspective to reach a stage where they can stand and sustain on their own.

• Each of these multiple business segments have distinct business models, operating nuances, capital commitments, risk & return profile, etc. These businesses have grown disproportionately over a period of time and are now at varied stages of their evolution from an overall Industry perspective. As these businesses mature and chase next phase of their growth, it would be strategically apt to segregate them.

• The Airport Business has grown multi-fold both domestic and overseas and is expected to benefit with enhanced focus and specialization, building further on its capabilities and strong brand presence.

Dr. Reddy's Laboratories announces the launch of Penicillamine Capsules USP, 250 mg in the U.S. Market

Dr. Reddy’s Laboratories today announced the launch of Penicillamine Capsules USP, 250 mg, a t

Dr. Reddy’s Laboratories today announced the launch of Penicillamine Capsules USP, 250 mg, a therapeutic equivalent generic version of Cuprimine® (penicillamine) Capsules, 250 mg, approved by the U.S. Food and Drug Administration (USFDA).

The Cuprimine® brand and generic market had U.S. sales of approximately $80 million MAT for the most recent twelve months ending in June 2020 according to IQVIA Health.

Dr. Reddy’s Penicillamine Capsules, USP is available as 250 mg capsules in a bottle count sizes of 100.

Dilip Buildcon receives Letter of Acceptance for a new project in Karnataka

Dilip Buildcon Limited has received letter ofacceptance (LOA) for a new HAM proiect viz. "4 laning f

Dilip Buildcon Limited has received letter ofacceptance (LOA) for a new HAM proiect viz. "4 laning from km. 42.000 to km. 80.00 of Dodabaltapur Bypass to Hoskote section of NH-648 (Old NH-207) on Hybrid Annuity Mode under Bharatmala Pariyojna in the state of Karnataka (Package-II)."

Bid Project Cost: INR 1,278 Crores
Mode: Hybrid Annuity Mode (HAM)
1st Year O & M: INR 3.00 Crores
Completion Period: 24 months
Operation period: 15 years from COD
Length: 38.00 Kms

Steel Strips Wheels receives new orders for 12,000 wheels from Europe & US

Steel Strips Wheels has bagged firm export orders for over 12,000 US & Europe Caravan Trailer Ma

Steel Strips Wheels has bagged firm export orders for over 12,000 US & Europe Caravan Trailer Market to be executed in September and October from its Chennai plant. Total value is around 128K USD.

Production at the Chennai steel wheel plant will cross 100% utilization in both passenger and truck lines.

JSW Steel sees greater opportunity for anti-microbial coated steel products amidst new normal

Begins national roll-out of JSW Radiance colour-coated steel JSW offers upto 25 years warranty on J
  • Begins national roll-out of JSW Radiance colour-coated steel
  • JSW offers upto 25 years warranty on JSW Radiance

JSW Steel Ltd expects a larger play in the Specialty Coil coating business. Color coated coils with properties like antimicrobial & anti-dust has opened new opportunities for the product segment to grow in India within the new normal. JSW Steel has begun the roll-out of JSW Radiance, a steel color-coated product range in high-gloss feature with multiple variants. JSW Radiance with various variants with an option to choose among properties like Anti-microbial, anti-graffiti, anti-dust, antistatic & cool Roof system. JSW Radiance can also be custom offered with more than one of the above properties in a coil. With major key end use benefits, JSW radiance is suitable for diverse applications ranging from warehousing, appliances, cold storage, hospitals etc.

Full read: JSW Steel sees opportunity for anti-microbial coated steel.pdf (278.72 kb)

Alembic Pharmaceuticals receives USFDA Tentative Approval for Empagliflozin and Linagliptin Tablets

Alembic Pharmaceuticals Limited today announced that it has received tentative approval from the US

Alembic Pharmaceuticals Limited today announced that it has received tentative approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Empagliflozin and Linagliptin Tablets, 10 mg/5 mg and 25 mg/5 mg. The tentatively approved ANDA is therapeutically equivalent to the reference listed drug product (RLD), Glyxambi Tablets, 10 mg/5 mg and 25 mg/5 mg, of Boehringer Ingelheim Pharmaceuticals, Inc. (Boehringer). Empagliflozin and Linagliptin Tablet is indicated as an adjunct to diet and exercise to improve glycemic control in adults with type 2 diabetes mellitus when treatment with both Empagliflozin and Linagliptin is appropriate.

Empagliflozin is indicated to reduce the risk of cardiovascular death in adults with type 2 diabetes mellitus and established cardiovascular disease. However, the effectiveness of Empagliflozin and Linagliptin Tablets on reducing the risk of cardiovascular death in adults with type 2 diabetes mellitus and cardiovascular disease has not been established. Empagliflozin and Linagliptin Tablets, 10 mg/5 mg and 25 mg/5 mg have an estimated market size of US$ 244 million for twelve months ending June 2020 according to IQVIA.

Alembic is currently in litigation with Boehringer in District Court of Delaware and launch of the product will depend on litigation outcome. Alembic now has a total of 130 ANDA approvals (113 final approvals and 17 tentative approvals) from USFDA.

Infosys - Genesys Partners with Infosys to Accelerate its Strategic Transformation Journey

Five-year partnership with Genesys enables both companies to develop and deploy innovation and besti

Five-year partnership with Genesys enables both companies to develop and deploy innovation and bestin-class solutions in the CX market

Infosys today announced the launch of a partnership with Genesys®, a global leader in cloud customer experience and contact center solutions. The alliance will position both organizations to enhance and expand their customer experience and contact center offerings. Together, the companies will deliver market-disrupting innovation and mission-critical support to enable organizations around the world to provide differentiated customer service experiences.

As a part of the partnership, Infosys will bring to market Genesys contact center solutions. Clients of both organizations stand to benefit from the enhanced capability that will come from a combined investment in innovation, a broader ecosystem of strategic partners and a shared commitment to delivering world-class customer experiences. In addition, Infosys will leverage and support R&D, operations and customer service for Genesys PureConnect™. Genesys will retain and manage sales, marketing and a host of additional functions for this solution

Welspun Corp - Board meeting for approval of fund raising

A meeting of the Board of Directors of the Company is scheduled on Monday, August 31, 2020 to seek a

A meeting of the Board of Directors of the Company is scheduled on Monday, August 31, 2020 to seek approval for raising funds by issue of securities including debt securities, subject to receipt of the necessary approvals including the approval of the shareholders (as applicable) and other regulatory / statutory approvals, as may be required.

Future Enterprises to consider proposal for raising of funds

The meeting of the Board of Directors of the Company is scheduled to be held on Saturday, 29th Augus

The meeting of the Board of Directors of the Company is scheduled to be held on Saturday, 29th August, 2020 to consider and evaluate proposals to raise funds by way of issuance of bonds including debentures / non-convertible debt instruments / securities and/or any other instruments / securities including through private placement or through any other permissible mode or any combination thereof, as may be decided by the Board and subject to such statutory / regulatory approvals as may be necessary, including the approval of the shareholders of the Company, wherever required.

Investor Turnover update for 26th August 2020

Mahindra And REE Automotive Sign An MOU To Establish A Strategic Collaboration For The Development Of Electric Commercial Vehicles

Partnership to leverage REE’s corner module and modular platform technology and Mahindra&rsquo
  • Partnership to leverage REE’s corner module and modular platform technology and Mahindra’s vehicle design, engineering, sourcing capability and manufacturing assets.
  • MOU is primarily aimed at global markets with current global volume estimated over time at 200,000- 250,000 units.

Mahindra & Mahindra and REE Automotive today signed a memorandum of understanding (MOU) to explore development and manufacturing of electric commercial vehicles for global markets.

Such a strategic collaboration will leverage REE’s revolutionary electric vehicle corner module and platform technology of integrating powertrain, suspension and steering components in the arch of a vehicle wheel. This coupled with Mahindra’s well-established vehicle design, engineering, sourcing capability and manufacturing assets, is set to be a win-win strategic partnership for both companies.

The partnership will support REE’s global customer need for 200,000-250,000 electric commercial vehicle units over a few years, including potential Mahindra’s domestic and international volumes. Production would be scaled further to support additional volume in the global as well as Indian market.

Lupin and Mylan Launch Nepexto®, Biosimilar Etanercept in Germany

Nepexto® is Lupin’s biosimilar etanercept approved for all indications of the reference pr
  • Nepexto® is Lupin’s biosimilar etanercept approved for all indications of the reference product Enbrel®
  • Nepexto® is available as an injectable in an easy-to-use pre-filled pen and a pre-filled syringe
  • The approval of Nepexto® by the European Medicines Agency (EMA) underlines the scientific success of Lupin’s biosimilar programs

Lupin Limited (Lupin) and Mylan N.V. announced today the launch of Nepexto® , biosimilar etanercept, in the German market. Nepexto® is indicated for the treatment of moderate to severe active rheumatoid arthritis, juvenile idiopathic arthritis from the age of 2 years, active and progressive psoriatic arthritis, severe axial spondyloarthritis, moderate to severe plaque psoriasis and chronic severe plaque psoriasis in children and adolescents from the age of 6 years. Nepexto® is approved for all therapeutic indications of the reference product Enbrel®.

Brahmaputra Infrastructure receives orders worth INR 64.31 crores

Brahmaputra Infrastructure Limited along with its JV Partners has received the below mentioned proje

Brahmaputra Infrastructure Limited along with its JV Partners has received the below mentioned projects from Ajmer Smart City Limited.

  1. JCC Infra Projects BIL JV, has bagged order worth of Rs. 36.22 Crores for execution of the work of “Construction of Medicine Block at JLN hospital Ajmer”.
  2. JCC Infra Projects BIL JV, has bagged order worth of Rs. 28.08 Crores for execution of the work of “Construction of Pediatrics Block and Multilevel Parking at JLN Hospital, Ajmer”

Rattanlndia Infrastructure to explore new opportunities in coal mining and selling

Board has decided to participate in coal block auction process with a view to profitably mine and se

Board has decided to participate in coal block auction process with a view to profitably mine and sell coal commercially, while deploying best in class technology, equipment and practices, with a focus on emerging clean coal technologies with low to zero emissions through carbon capture, utilization and storage.

Company will continue to explore more opportunities to enhance shareholder value.

Full read: RattanIndia Infrastructure coal mining decision by Board.pdf (70.94 kb)

Affle Limited wins a contract from the Singapore Government to build a ‘Digital & Cloud-based Commuter Survey Platform’

Affle International Pte. Ltd., today announced that it has won the contract from the Singapore Gover

Affle International Pte. Ltd., today announced that it has won the contract from the Singapore Government to build a ‘Digital & Cloud-based Commuter Survey Platform’ for Land Transport Authority (LTA).

Affle’s mobile marketing platforms will enable interactive surveys for citizens in Singapore to drive LTA’s objective of building a people-centered land transport system. The total value of the contract is over US$ 1 million. Affle’s platforms were first accredited by the Infocomm Media Development Authority of Singapore in 2018, and Affle is actively engaged on 6 projects across multiple Singapore government agencies as on date.

Jammu & Kashmir Bank to consider raising of capital

The Board of Directors of the Bank shall consider the Raising of Capital (Tier I/Tier II) to the tun

The Board of Directors of the Bank shall consider the Raising of Capital (Tier I/Tier II) to the tune of INR 4,500 Crores during the Financial Year 2020-2021, in the meeting scheduled for August 28, 2020.

Investor Turnover update for 25th August 2020