Tata Motors (Jaguar Land Rover - JLR) - Auto sales update
RATNAMANI METALS & TUBES has received a Domestic Order of Rs.90.00 Crores in Carbon Steel Division of the Company for the supply of coated CS Pipes for Oil & Gas Sector to be completed between December, 2020 to April, 2021.
Adani Land Defence Systems and Technologies Limited - a step down subsidiary of the Company has acquired 51% Equity Shares of PLR Systems Private Limited from Fouraces Systems India Private Limited on 10th September, 2020.
Through the acquisition of a majority stake in PLR, Adani and IWI (existing shareholder in PLR) shall be able to manufactured defence equipment to the 1.2million Army personnel and an equal number of para-military forces and state police forces and shall help achieve self-reliance aligned to the Make in India and Atma-Nirbhar Bharat initiative.
Zydus Cadila has received final approval from the USFDA to market Doxorubicin Hydrochloride Liposome Injection (US RLD: Doxil Liposome Injection) in the strengths of 20 mg/10 mL (2 mg/mL) and 50 mg/25 mL (2 mg/mL) Single-Dose Vials. This is the group’s first approval for a complex injectable which has been developed in-house and will be manufactured at group’s facility located in SEZ.
The Company’s injectable portfolio has 39 products under development with an addressable market size of $20bn.
U.S. sales for Liposomal Doxorubicin Injection were approximately $124 million for the 12 months ending July 2020, according to IQVIA.
Liposomal doxorubicin is a chemotherapeutic agent that is used alone or with other treatments/medications to treat certain types of cancer such as ovarian cancer, AIDS-related Kaposi’s sarcoma and multiple myeloma. It works by slowing or stopping cancer cell growth.
The group now has 300 approvals and has so far filed over 390 ANDAs since the commencement of the filing process in FY 2003-04.
HCL announces launch of AI Lab for enhancing and upskilling capabilities
HCL Technologies (HCL), a leading global technology company, today announced it has joined NVIDIA Partner Network (NPN), the US-based technology company’s partner program, with plans to pursue expanded opportunities in the Artificial Intelligence (AI) space.
HCL also announced the launch of NEXT.ai, HCL’s AI Lab, focused on upskilling engineers and architects utilizing AI solutions across hardware and software technology stacks. This will enhance their capabilities to build AI-led solutions for multiple HCL clients across industry verticals.
The HCL NEXT.ai lab focuses on emerging technologies to develop industry-specific AI solutions for customers pursuing digital transformation. Customers and partners can co-create proofs of concept and full-fledged, scalable and production-ready solutions in the lab. NEXT.ai comes equipped with the latest technology products and infrastructure from its partner ecosystem. The areas of focus include computer vision, predictive modeling, failure analysis, optimization, product intelligence, data engineering, data management, and more.
NEXT.ai lab is powered by two NVIDIA DGX-1 systems, which enables accelerated delivery of AI solutions.
Steel Strips Wheels confirms export orders for nearly 2,700 wheels for US Truck Trailer Market to be executed in the month of October from its Chennai plant. Orders of similar capacity are anticipated from the same customer base as businesses have picked up speed.
Total value of the order is around US$ 114K.
Granules India Limited has received marketing approval from the U.S. Health Regulator (FDA) for Dexmethylphenidate HCl extended-release capsules for the treatment of attention-deficit hyperactivity disorder. Granules’ capsule product is bioequivalent to the reference listed drug (RLD), Focalin™ XR.
The drug will be manufactured at the Granules manufacturing facility in Chantilly, Virginia.
Granules now have a total of 30 ANDA approvals from the US FDA (28 Final approvals and 2 tentative approvals).
According to IQVIA Health,Dexmethylphenidate HCl ER Capsules had U.S. sales of approximately $556 million (As per IQVIA MAT July 2020) for the most recent twelve months ending in July 2020. Focalin™ XR is a trademark of Novartis AG.
The company today announced the successful pricing of its maiden unsecured 3 yearNCD issue. The original issue size was Rs. 1,500 crores which was upsized to Rs. 2,130 crores (using greenshoe option) on the back of overwhelming investor demand. Overall 24 investors (including 23 QIBs) have invested in the NCDs. This was the joint widest distributed debt issuance by an Indian Private sector corporate in the current fiscal.
The coupon size is 6.65% and the NCD issue was assigned a rating of AAA (negative) by India Ratings. The proceeds from this NCD will be used to pre-pay the debt, which will help strengthen the balance sheet and reduce interest cost. This transaction further diversifies funding sources for the Motherson by providing access to the deep domestic Mutual Funds and Financial Institutions market.
CARE Ratings Limited has upgraded the rating assigned to Long Term Bank Facilities availed by the Company as CARE A+; Stable (pronounced Single A Plus; Outlook: Stable). Instruments with this rating are considered to have adequate degree of safety regarding timely servicing of financial obligations. Such instruments carry low credit risk.
CARE Ratings Limited has also reaffirmed the rating assigned to Short Term Bank Facilities and Commercial Paper as CARE Al (pronounced CARE A One). Instruments / Facilities with this rating are considered to have very strong degree of safety regarding timely payment of financial obligations. Such instruments/facilities carry lowest credit risk.
Further, CARE Ratings Limited has upgraded the rating assigned to Long Term - Medium Term Instrument i.e. Fixed Deposits of the Company as CARE A+ (FD); Stable (pronounced Single A Plus (Fixed Deposit); Outlook: Stable). Instrument with this rating are considered to have adequate credit quality rating. Such instruments/facilities carry average credit risk.
Sharechat and Moj users can now add music to their posts using songs from India’s oldest music label
ShareChat announced a global licensing deal with Saregama, one of India’s largest music labels today that would allow for its users to create amazing new content and add to their social experience on the ShareChat and Moj platforms.
As part of this deal, Saregama will license its large catalogue to both platforms allowing for the large community of ShareChat and Moj members to create their own short video content using the Saregama library. The robust music library offers thousands of songs in diverse Indian languages like Hindi, Bengali, Tamil, Marathi, Telugu, Malayalam, Kannada, Punjabi, Gujarati, Bhojpuri amongst many others
Dilip Buildcon Limited has received letter ofacceptance (LOA) for a new HAM proiect viz. "'Construction and upgradation of NH 131A from Km 34.600 to Km 79.970 near Purnea to 4 lane standard and from Km 79.970 to Km 82.000 near Purnea to 2 lane with paved Shoulders standard in the State of Bihar on Hybrid Annuity Mode"
Bid Project Cost: INR 1,905 Crores
Mode: Hybrid Annuity Mode (HAM)
1st Year O & M: INR 3.00 Crores
Completion Period: 24 months
Operation period: 15 years from COD
Total Length: 49.00 Kms
Steel Strips Wheels confirms export orders for nearly 110,000 wheels for US caravan Trailer Market to be executed in the month of November from its Chennai plant.
Total value of the order is around US$ 1.07 million.
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