Dr. Reddy’s Laboratories today announced the launch of Remdesivir, under a brand name Redyx in India. The launch is part of the licensing agreement with Gilead Sciences, Inc. (Gilead) that grants Dr. Reddy’s the right to register, manufacture and sell Remdesivir, a potential treatment for Covid-19, in 127 countries including India.
Remdesivir is approved by Drug Controller General of India (DCGI) for restricted emergency use in India for the treatment of Covid-19 patients hospitalized with severe symptoms.
Dr. Reddy’s Redyx is available in strength of 100 mg vial.
SILVER LAKE TO INVEST ₹ 7,500 CRORE IN RELIANCE RETAIL VENTURES AT AN EQUITY VALUE OF ₹ 4.21 LAKH CRORE
Reliance Industries Limited and Reliance Retail Ventures Limited announced today that Silver Lake will invest ₹ 7,500 crore into RRVL, a subsidiary of Reliance Industries. This investment values RRVL at a pre-money equity value of ₹ 4.21 lakh crore. Silver Lake’s investment will translate into a 1.75% equity stake in RRVL on a fully diluted basis.
This marks the second billion dollar investment by Silver Lake in a Reliance Industries subsidiary after the $1.35 billion investment in Jio Platforms announced earlier this year.
SW Steel Crude Production update
ln the Vendor Rating Report, Tato Consultancy Services Received o Strong Roting in Support/ Account Manogement, ond Positive Ratings in Strategy, Product/ Service, Pricing Structure, Technology/ M ethodology and Corporate Viobility
Tata Consultancy Services , a leading global lT services, consulting and business solutions organization, has been recognized with an Overall Positive Rating in the recent Vendor Rating report by Gartner lnc1, based on a holistic evaluation covering the company's Strategy, Product/ Service, Pricing Structure, Technology/ Methodology, Support/ Account Management and Corporate Viability
The Company has emerged as the Lowest Bidder (L-1) for above-referred Packages i.e. Package I and Package II. The aggregate quoted value of both the Projects is Rs.1,390 Crore.
- Request for Proposal for Four laning of Arrah to Pararia section of NH-319(Old NH-30) from Km 0+000 to Km 54+530 (Design Chainage) in the State of Bihar under Bharatmala pariyojana Phase -1 on EPC Mode (Package-I); and
- Request for Proposal for Four laning of Pararia to Mohania section of NH-319(Old NH-30) from Km 54+530 to Km 115+330 (Design Chainage) in the State of Bihar under Bharatmala Pariyojana Phase-I on EPC Mode (Package II).
Wipro Limited today announced that they have entered into a multi-year global agreement for automotive engineering services.
Marelli is one of the world’s leading global independent suppliers to the automotive sector with operational headquarters in Saitama, Japan and Corbetta, Italy.
Parag milk Foods- Q1 (Cons) update
Ahluwalia Contracts (India) Limited has secured new order aggregating to Rs.323.32 Crores (approx.) for Construction of 240 Beds Hospital Building of Dr. Radha Krishnan Medical College and Hospital at Hamirpur Dist. Hamirpur (HP), work awarded from CPWD, Hamirpur Project Division (HP) - 177001.
The total order inflow during the FY 2020-21 stands at Rs.712.82 Crores.
PNC Infratech Limited in Joint Venture with SPML Infra Limited has been declared as the L1 (lowest) bidder for “Construction of Haraulipur Group of Villages (125 Nos) Water Supply Project comprising surface and ground water supply schemes and allied works including commissioning; operation and maintenance for 10 years in the Hamirpur district of Uttar Pradesh” for Rs. 289.83 crore. PNC Infratech’s share in the JV is 95%. Four firms participated in the bidding and price bids were opened on Monday, 7 th September, 2020 in Lucknow`, with PNC JV’s bid being the lowest (L1).
State Water Supply & Sanitation Mission, Commissioner of Rural Development, Government of Uttar Pradesh is the Authority for the Project.
The project is to be constructed in 2 year and operated for 10 years, post commissioning. This is the first project secured by the Company in water supply sector.
Will build a 300 MLD Independent Sewage Treatment Plant (ISTP) at Jeddah, KSA
VA TECH WABAG LIMITED ('WABAG'), a leading Pure Play Water Technology Indian Multinational Company has secured 48 Million USD (approx. 360 Crore INR) order to execute the 300 MLD (Million Litres per Day) Jeddah Airport 2 Independent Sewage Treatment Plant (ISTP) Project at Jeddah, Kingdom of Saudi Arabia. This is a repeat order for WABAG in the Kingdom of Saudi Arabia secured through Saudi Services for Electro Mechanical Works Company (`SSEM').
The plant will be built by WABAG with the state-of-the-art NEREDA technology for the first time in the region, a sustainable and cost-effective wastewater treatment technology that purifies water using the unique features of aerobic granular biomass.
The plant will be designed to treat 300 MLD, expandable to 500 MLD of wastewater treatment. WABAG will be responsible for process design, engineering, procurement of process equipment including process control instruments, supervision, commissioning and demonstration of process guarantees.
Tata Consultancy Services to Help TPT Develop an Integrated Online Logistics Marketplace Platform, a First of its Kind in Africa
Tata Consultancy Services (TCS) has partnered with Transnet Port Terminals (TPT) in South Africa, part of Transnet SOC Ltd, a state-owned freight transport and handling company, to help the latter develop an integrated online marketplace platform by bringing together cargo owners, shipping lines, clearing and forwarding agents, and road/rail haulers.
Steel Strips Wheels confirms export orders for nearly 12,000 wheels for US & Europe Trailer Market to be executed in the month of October from its Chennai plant.
Total value of the order is around US$ 96K.
VIL marks completion of world’s largest integration with the launch of single brand identity - Vi
• With VIL’s 4G coverage expanded to nearly a billion Indians, new brand Vi, built to partner every Indian to create a better and brighter tomorrow
• VIL has set up world-class network with largest spectrum portfolio, huge capacity and built-in 5G ready technologies; delivering fastest 4G speeds in many markets incl. Delhi & Mumbai metros, as per Ookla
• Future fit, digital Telco, a customer champion, helping customers & businesses to thrive
Full read: Vodafone Idea creates a single brand Vi.pdf (239.32 kb)
Alembic Pharmaceuticals Limited today announced that its wholly owned subsidiary Alembic Global Holdings SA has received tentative approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Treprostinil Injection, 20 mg/20 ml (1 mg/ml), 50 mg/20 ml (2.5 mg/ml), 100 mg/20 ml (5 mg/ml), and 200 mg/20 ml (1 O mg/ml), Multiple-Dose Vials. The tentatively approved ANDA is therapeutically equivalent to the reference listed drug product (RlD), Remodulin Injection, 20 mg/20 ml (1 mg/ml), 50 mg/20 ml (2.5 mg/ml), 100 mg/20 ml (5 mg/ml), and 200 mg/20 ml (10mg/ml), of United Therapeutics Corp. (United).
Treprostinil Injection is indicated for the treatment of pulmonary arterial hypertension (PAH; WHO Group 1) to diminish symptoms associated with exercise. Treprostinil Injection has an estimated market size of US$ 466.1 million for twelve months ending Dec. 2019 according to United Therapeutics Corporation's 2019 financial results.
Alembic now has a total of 131 ANDA approvals (113 final approvals and 18 tentative approvals) from USFDA.
Tejas Networks announced that it has received purchase order of Rs. 32 crores from Sterlite Technologies (STL) and L&T Construction for its GPON (Gigabit Passive Optical Network) fiber-to-the-home (FTTH) equipment for a state-led Bharatnet project in south India.
L&T’s Power Transmission & Distribution Business has won a prestigious package to establish transmission lines and substations associated with a major infrastructure project in Telangana. The scope of the package involves establishing three new 400 kV Substations with Reactors, associated bay extensions at connected substations and more than 170 km of 400 kV Transmission Links, on a turnkey basis.
Another order has been secured from Konkan Railway Corporation Limited to provide Electrical & Mechanical Systems for two tunnels in the Katra Dharam section of the Udhampur Srinagar Baramulla rail link project. The scope of the package involves 33 kV & 11 kV HT power cable network, GIS substation, DG sets, tunnel lighting, ventilation & firefighting systems, and SCADA system.
A Power Distribution package to replace bare conductors with Aerial Bunched Cables has been received from North India. Additional orders have been received from ongoing transmission line projects.
In Oman, the business has bagged a package to construct 400 kV Overhead Lines connecting three Grid Stations. These high capacity transmission lines will interconnect three major transmission systems to improve dispatch coordination and grid security. These will also enhance access to areas with renewable energy potential and enable reserves sharing.
A repeat order has been received from a reputed client in the Middle East.
Approves home loans of over ₹ 47000 Cr and disburses subsidy of over Rs 4700 Cr to 2,00,000 homebuyers
HDFC Ltd, India’s premier housing finance company has disbursed subsidy to over 2,00,000 homebuyers under the Pradhan Mantri Awas Yojana (PMAY) Credit Linked Subsidy Scheme (CLSS) becoming the first lender to do so. This is the flagship housing scheme of the government.
The Corporation has approved over ₹ 47000 crore of home loans under CLSS to homebuyers belonging to the Economically Weaker Section (EWS), Low Income Group (LIG) and Middle Income Groups (MIG). Subsidy under PMAY amounting to over ₹ 4700 crore has been passed on to these 200000 homebuyers, becoming the only financial institution in the country to achieve this feat.
The Corporation has been partnering and supporting the Ministry of Housing & Urban Affairs and the National Housing Bank to work towards the government’s goal of ‘Affordable Housing for All’.
Brickwork Ratings upgrades the ratings and places it under Watch with Developing implications for the Bank Loan Facilities of Rs.154 Crs of Gallant Ispat Ltd.
- Facility: Fund based
- Amount: INR 90 Cr
- Tenure: Long term
- Previous Rating: BWR BBB+; Stable
- New Rating: BWR A-; Under watch with developing implications
- Facility: Non-Fund based
- Amount: INR 64 Cr
- Tenure: Short term
- Previous Rating: BWR A2
- New Rating: BWR A2+