Company updates 19.12.19

BALMER LAWRIE

Company is issuing BONUS of 1 share for every 2 share you hold

Authorisations for declaration of Bonus Shares in the ratio of 1:2 i.e, one new equity share of Rs. 10 each fully paid up for every two existing equity shares of Rs.10 each fully paid up by capitalisation of a sum of Rs.570012820 out of the Company's Free ANNEXURE A reserves/ Securities Premium Account/ Capital Redemption Reserve Account in full or in part and connceted matters.

GATEWAY DISTRIPARKS

Gateway Distriparks Ltd (GDL) completes sale of its second CFS in Chennai

Gateway Distriparks Ltd (GDL) has announced closure of previously announced divestment of its second CFS in Chennai, held in its wholly owned subsidiary - Chandra CFS & Terminal Operators Private Limited – to Team Global Logistics Private Limited, for a total consideration of Rs. 48.41 crores. GDL will continue to operate its first CFS in Chennai where it handled over 87,000 TEUs last year. Prem Kishan Gupta, Chairman and Managing Director of Gateway, commented “This sale is in line with the strategy of the company of debt reduction, and will help the company to consolidate its operations in Chennai at a single container freight station, with an aim to improve cost efficiencies."

GRANULES INDIA

Update on NDMA in Metformin manufactured by Granules India Limited

Granules had conducted detailed analysis of its Metformin Hydrochloride for N-Nitrosodimethylamine (NDMA). It was concluded from the results that NDMA is absent in Metformin Hydrochloride batches produced by Granules. This was informed to the EU authorities.

KAYA LTD

Board of Directors of Kaya Limited (the “Company”) at its meeting held today, i.e., Thursday, December 19, 2019 have approved the resolution to borrow Rs. 7,00,00,000/- (Rupees Seven Crores Only) each from Mr. Harsh Mariwala and Mr. Rajendra Mariwala, Directors of the Company.

LEMON TREE

Opened our first international hotel in Dubai today under the Company’s brand ‘Lemon Tree Hotel’.

The hotel, owned by Al Waleed Real Estate LLC, is located on Al Wasl Road, less than a kilometre from Sheikh Zayed Road and Jumeirah Open Beach, and is the first branded midscale hotel in the area. The hotel features 114 well-appointed rooms, complemented by a multi-cuisine restaurant, Lemon Tree Café, with a beautiful al fresco extension, a conference room, a swimming pool, a well-equipped fitness center and more.

The hotel shall be managed by Carnation Hotels Private Limited, a subsidiary and the hotel management arm of Lemon Tree Hotels Limited.

L&T TECHNOLOGY SERVICES

L&T Technology Services inaugurates Aerospace & Defense Engineering Design Center in Rockford, Illinois”

A leading global pure-play engineering services company, announced it has opened a design engineering center in Rockford, Illinois (USA) to cater to the new age digital requirements of the aerospace and defense markets. The latest initiative will enable LTTS to further build on the momentum gained by the company in the aerospace sector across the globe

This center of excellence will specialize in development of high-performance engineering solutions for global aerospace and defense technology players. The facility will have a team of over 100 engineers with expertise in digital engineering, systems engineering and avionics design

The center was inaugurated by Mr. Stan Kottke, Vice President of Electric Power Systems, Collins Aerospace, Senator Dave Syverson and Mr. Tom McNamara, Mayor, Rockford City, IL, in the presence of Dr. Keshab Panda, CEO & Managing Director, L&T Technology Services and other top industry officials. The 130-seater center of excellence is LTTS’ sixth design center in the United States

In July this year, LTTS was selected by Collins Aerospace to provide advanced aerospace and defense service needs.

LTTS’ distinct advantages in the aerospace landscape include ITAR (International Traffic in Arms) Compliance, certified state-of-art facilities, strong global customer base, robust lab & testing infrastructure and strategic alliances with Fortune 500 companies.

The company’s offerings to the aerospace sector encompass a wide spectrum including aero engine, aero structure & systems, avionics, air traffic management and new-age disruptive digital transformation solutions which cater to all phases of the Aircraft Lifecycledesign, manufacturing and aftermarket services.

“The new center of excellence serves as a testament to LTTS’ commitment to continued innovation and advanced capabilities in the aerospace and defense realms,” said Dr Keshab Panda, CEO & Managing Director at L&T Technology Services Limited. Through this investment, we will leverage our expertise in systems engineering and deliver differentiated value to our customers,” he said.

LUPIN

lupin's Alliance Partner Concord Receives Approval for Mycophenolic Acid DelayedRelease Tablets USP

Pharma major Lupin Limited (Lupin) in alliance with Concord Biotech Limited (Concord) announced that it has received approval from the United States Food and Drug Administration (U.S. FDA) for Mycophenolic Acid Delayed-Release Tablets USP, 180 mg and 360 mg, to market the generic equivalent of Myfortic® Delayed-Release Tablets, 180 mg and 360 mg, of Novartis Pharmaceuticals Corporation

Mycophenolic Acid Delayed-Release Tablets USP, 180 mg and 360 mg, are indicated for:

- Prophylaxis of organ rejection in adult patients receiving kidney transplants and in pediatric patients at least 5 years of age and older who are at least 6 months post kidney transplant.

- Use in combination with cyclosporine and corticosteroids.

Mycophenolic Acid Delayed-Release Tablets USP, 180 mg and 360 mg {RLD: Myfortic®) had an annual sales of approximately USD 174 million in the U.S. (IQVIA MAT Sep:ember 2019).

MARUTI SUZUKI

Maruti Suzuki India Limited today announced the launch of the new Alto VXI+ which offers SmartPlay Studio a 17.8 cm touchscreen infotainment system, enabled with Apple CarPlay and Android Auto 

Further, the new Alto VXI+ also comes with elegant aero edge design, stylish dual-tone interiors, high fuel efficiency, and latest safety features.

Alto VXI+ with BS6 compliant engine delivering a high fuel efficiency of 22.05 km/l at an exshowroom (Delhi) price of Rs. 380,209/-. Alto VXI+ will be available with enhanced safety features: dual front airbags, anti-lock braking system (ABS) with EBD, reverse parking sensors, speed alert system and seat belt reminder for both driver and co-driver.

MINDTREE

"Mindtree Named Market Leader in ISG Provider Lens™ - Next-Gen ADM Services 2019"

NMDC

NMDC is allocated with two coal blocks in Jharkhand State

More details @ https://arpicks.blogspot.com/2019/12/nmdc-update.html

PANCEA BIOTEC

Panacea Biotec receives USD 24.32 Million Award of Pentavalent Vaccine from U.N. Agencies

More details @ https://arpicks.blogspot.com/2019/12/pancea-biotec-update.html

POLY MEDICURE

Company has been awarded as one of the Top 25 Innovative Companies by CII Industrial Innovation Awards 2019 on 18th December, 2019.

QUESS CORP

Additional Investment in Vedang Cellular Services Private Limited, Subsidiary of the Company

This is in continuation to our letter dated 30th October, 2019 on the aforementioned subject; we wish to inform that the Company has completed the additional acquisition of 18.71 % Equity Shares in Vedang Cellular Services Private Limited ("Vedang").

The Shareholding of the Company in 'Vedang' stands increased from existing 70% to 88.71 %.

RELIGARE ENTERPRISE

In terms of the Scheme, four (4) direct / indirect wholly owned subsidiaries of the Company namely, Religare Comtrade Limited, Religare Insurance Limited, Religare Advisors Limited and Religare Business Solutions Limited will merge with/into Religare Enterprises Limited subject to terms and conditions as provided in the Scheme.

Further, as the Scheme envisages for amalgamation of direct/ indirect wholly owned subsidiary(ies) with the parent company, the Company is not required to comply with the requirements laid under Circular No. CFD/DIL3/CIR/2017/21 dated 10th March, 2017 read with the SEBI Circular No. CFD/DIL3/CIR/2018/2 dated 3rd January, 2018.

SUN PHARMA ADVANCED

SPARC Enters into Licensing Agreement with Bioprojet to Acquire Exclusive Rights for Investigational Medicinal Product, SCD-044

has entered into an agreement with Bioprojet SCR (Bioprojet) to exclusively acquire Bioprojet’s rights to the investigational medicinal product SCD-044. SPARC and Bioprojet co-owned all SCD-044 related IP, developed through a research collaboration targeting Sphingosine-1-Phosphate Receptors (S1PR) to treat various autoimmune disorders. The acquisition includes full assignment of all patents and patent applications owned or controlled by Bioprojet related to SCD-044.

“This is an important deal for us. SPARC has been working on SCD-044 in collaboration with Bioprojet. This acquisition will provide us with expanded freedom to operate and an opportunity to build on promising data from early stage clinical trials," said Anil Raghavan, CEO of SPARC. “This agreement is further evidence of SPARC's commitment to seek out novel treatments to address important unmet medical conditions”.

Under the terms of the agreement, Bioprojet is eligible to receive milestones and royalties on net sales of SCD-044.

SUVEN LIFE

SUVEN receives EIR from US FDA for its Pashamylaram facility

Company has undergone US FDA renewal inspection at their facility in Pashamylaram near Hyderabad for the manufacture and supply of active pharmaceutical ingredients (bulk drugs), intermediates and formulations under cGMP during Oct 21st through Nov 1st, 2019.

Based on this FDA inspection and the review thereafter, FDA has determined that the inspection classification of this facility is “voluntary action indicated” (“VAI”).

Also FDA has concluded that this inspection is “closed” under 21CFR20.64 (d) (3) and the agency has issued an Establishment Inspection Report (EIR) for Suven facility at Pashamylaram.

So far Suven Life Sciences has filed 22 DMF’s, 6 ANDA’s and 2 ANADA’s from this facility which is FDA complaint under cGMP and continued after renewal inspection.

TCS

TCS to Help VIAVI Develop Next-gen 5G Solutions

More details @  https://arpicks.blogspot.com/2019/12/tcs-update.html

TREDENT 

GRANT OF PATENT FOR ‘TERRY FABRIC WEAVE AND RESULTING TERRY FABRIC’ BY EUROPEAN PATENT OFFICE

Trident Limited has been granted patent for ‘TERRY FABRIC WEAVE AND RESULTING TERRY FABRIC’ by European Patent Office.

The present invention relates to Terry Fabric weaves, method for weaving Terry fabric comprising such weaves and resulting Terry fabrics. In particular, the invention relates to terry fabrics having improved material effectiveness, pull resistance, absorbency, softness and uniformity of texture. 

The grant of this patent provides further recognition of the quality of the innovation being carried out by Trident. 

ZENSAR TECHNOLOGIES

Zensar receives the ISG Special Award at the ISG Paragon Awards™ Americas

A leading digital solutions and technology services company that specializes in partnering with organizations across industries on their digital transformation journey, announced that is has been recognized with the ISG Special Award, presented as part of the 2019 ISG Paragon Awards™ Americas. 

The ISG Special Award is given to companies whose contributions to the sourcing industry have had an outstanding impact on the industry, a community, technology innovation or new business practice. The awards were announced at a gala event in New York on December 5th, 2019.