Reliance Industries, Jk Cement, Zydus Life, Biocon, Rvnl, Defense Stocks, Lupine And More | Popgen Tech

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Reliance Industries | Unit Reliance Strategic Business Ventures has acquired a 23.3 percent stake in US-based Exyn Tech for $25 million. The unit and Exyn also signed a strategic partnership for technology collaboration and commercialization of Exyn’s technology. More details here.

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Defense Stores | The Defense Acquisition Council has approved the acceptance of the requirement for 24 capital procurement proposals worth Rs 84,328 crore for the armed forces and the Indian Coast Guard. 21 of these, worth Rs 82,127 crore will be procured from Indigenous sources.

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JK Cement | The company on Thursday announced its foray into the paint business by acquiring a 60 percent stake in Rajasthan-based Acro Paints in a Rs 153 crore deal through its wholly-owned subsidiary. The remaining 40 percent will be acquired over the next 12 months. More details here.

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Zydus Life Sciences | The company on Thursday said its subsidiary Zydus Worldwide DMCC has received final approval from the US health regulator to market its generic version of Selexipag tablets with 180 days of shared exclusivity . The approval given by the Food and Drug Administration (USFDA) of the United States is to market Selexipag tablets of strengths ranging from 200 mcg to 1,600 mcg.

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Vikas Nigam Railway | Awarded contract for construction of Bhesan depot cum workshop for Surat Metro Rail Project Phase – 1 by Gujarat Metro Rail Corporation. The total awarded cost of the project is Rs 198.9 crore, excluding taxes.

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Lupine | The company’s US-based branch is recalling four batches of Quinapril tablets used to treat high blood pressure due to the presence of a nitrosamine impurity. The nitrosamine impurity, N-Nitroso-Quinapril, was observed in recent tests to be above the acceptable daily intake (ADI). “To date, Lupine has not received any reports of illnesses that appear to be related to this issue,” it said, adding that it has stopped marketing Quinapril tablets in September 2022.

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Biocon | Issued a certificate of Good Manufacturing Practice (GMP) compliance by the European Directorate for the Quality of Medicines and Healthcare (EDQM) for its Active Pharmaceutical Ingredients (API) manufacturing facility in Bengaluru. The site inspection took place between September 12 and 14, 2022.

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Bank of Maharashtra | The state-owned lender has raised Rs 880 crore through Basel III compliant Additional Tier 1 (AT1) bonds. The issue, including the green shoe option of Rs 680 crore, was subscribed more than four times against a base size of Rs 200 crore. The fund raised through the AT1 bonds will support the growth of the bank’s business.

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Punjab National Bank | The CBI has registered an FIR against an official of Punjab National Bank (PNB), now suspended, for allegedly defrauding the state-run lender to the tune of Rs 168.59 crore through 34 fake bank guarantees, officials said on Thursday . Nearly four years after an LoU (letter of undertaking) scam allegedly perpetrated by the uncle-nephew duo of Mehul Choksi and Nirav Modi bilked PNB of around Rs 13,000 crore, bank official Priya Ranjan Kumar followed similar modus operandi to issue 34. fake bank guarantees without making any entries in its core banking system Finacle, according to the CBI FIR.

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Ingersoll Rand (India) | The Board approves the setting up of a new manufacturing plant in Gujarat. A plant to be set up at a cost of 170 crore.

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Yes Bank | The bank has transferred stake stakes of seven companies, including Dish TV, Asian Hotels (North) and Avantha Realty, to JC Flowers Asset Reconstruction, which has been assigned to recover debt worth over Rs 48,000 crore of the sector lender private. The claimed equity shares held by Yes Bank aggregating to 44,53,48,990, representing 24.19 percent of the total share capital of Dish TV India, have now been transferred to JC Flowers Asset Reconstruction Pvt. Ltd. The transfer of invoked shares is in accordance with the assignment of a loan sanctioned by the bank to the companies of the Essel group (in relation to which there is a default and a lien on the company’s shares has been invoked by Yes Bank) .

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NTPC | The company on Thursday said it has struck a deal with GE Power India Ltd to reduce carbon emissions from its coal-fired units. This agreement aims to partner in the research, development and engineering of technologies that will allow NTPC to reduce the amount of coal it operates in units and gradually replace it with co-firing of ‘ carbonic and non-carbonic elements.