Company Updates 12.2.20

ARMAN FINANCIAL SERVICES

Arman Financial Reports 96% Increase in Profit After Tax to ₹ 37.7 Crores in 9M FY20 Consolidated AUM grows to ₹ 814.2 crores; up 41% Y-o-Y

BHEL

BHEL signs MoU with Rosoboronexport, Russia

Bharat Heavy Electricals Limited (BHEL) has signed an MoU with Joint Stock Company Rosoboronexporr, Russia during the 5th India Russia Military Industrial conference held in Lucknow.

The aim of the MOU is to cooperate and undertake joint projects and operations for Defence Systems. This will help in leveraging BHEL's strength/capabilities in the Defence Sector in association with Russian OEMs under the 'Make in India' initiative and offer indigenous support and solutions to the Indian Defence Forces.

DR REDDY

Dr. Reddy's Laboratories to acquire select business divisions of Wockhardt in India

Entered into a definitive agreement with Wockhardt Limited to acquire select divisions of its branded generics business in India and a few other international territories of Nepal, Sri Lanka, Bhutan and Maldives for a consideration of Rs.1850 Crores

The business comprises of a portfolio of 62 brands in multiple therapy areas such as Respiratory, Neurology, VMS, Dermatology, Gastroenterology, Pain and Vaccines, which would transfer to Dr. Reddy's along with related sales and marketing teams; and the manufacturing plant located in Baddi, Himachal Pradesh with all plant employees. The business undertaking is being transferred on a slump sale basis

G V Prasad, the Co-Chairman and Managing Director of Dr. Reddy's said "India is an important market for us and this acquisition will help in considerably scaling-up our domestic business. The acquired portfolio shall enhance Dr. Reddy's presence. in the high growth therapy areas with market leading brands such as Practin, Zedex, Bro-zedex, Tryptomer and Biovac. We believe the portfolio holds a lot of potential and will get an impetus under Dr. Reddy's. We welcome the team joining as part of the deal to the Dr. Reddy's family."

The transaction is expected to be closed in the first quarter of the financial year 2020-21

HERO MOTOCORP

HERO MOTOCORP FORAYS INTO CONNECTED MOBILITY WITH ‘HERO CONNECT

TO BRING ADDED SAFETY, SECURITY & DRIVING INSIGHTS FOR CUSTOMERS

Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, has introduced ‘Hero Connect’, a cloud-based solution bringing smart riding experience for customers.

Hero Connect, the new-age app for the new era of connected mobility, will be offered across segments with initial readiness in four models, including XPulse 200, Pleasure+, Passion XPRO and HF Deluxe

Offering security and safety through features like Live Tracking, Topple Alerts, Tow Away Alert, Geo Fence Alert, Speed Alert, etc; Hero Connect ensures safety when on the move or while parked. Driving insights based on the riders’ behavioural patterns is another core feature of this technology, thus helping in accessing logs and trip analysis for an enhanced and safe riding experience.

Launched at an introductory price of Rs 4,999/-* (inclusive of taxes), Hero Connect is available at select dealerships in Noida, Delhi and Pune, with a one-year subscription. The technology will be made available across more models and expanded to other cities in a phased manner.

INDUSIND BANK

Induslnd Bank records the 'highest' growth in brand value amongst top global banks

The brand value of Induslnd Bank has increased by 122% over the past 12 months, making it the highest placed for growth in brand value, across the globe.

Induslnd Bank, which started operations in 1994, has pioneered initiatives that have redefined the banking landscape. The Bank has constantly leveraged on the latest technology to deliver innovative banking solutions through multiple touch points. This has enabled the Bank to establish a strong "universal" banking model and consolidate its position as one of India's leading financial services brand.

LUPIN LTD

FDA completes inspection of Lupin's Pithampur (Unit-I) facility

Pharma major Lupin Limited (Lupin)today announced the com pletion of an inspection carried out by the United States Food and Drug Administration (U.S. FDA) at its Pithampur (Unit-I) facility. The inspection was carried out between February 3, 2020 and February 11, 2020. The inspection for the Pithampur (Unit-I) facility closed with two 483 observations.

PNC INFRATECH

PNC Infratech Bags a new Hybrid Annuity Highway Project of Rs.2052.0 crore

PNC Infratech Limited has been declared the L1 (lowest) bidder for a NHAI Project of 60.640 km long Four Laning of Aligarh-Kanpur section of NH 91 from km 373.085 to 433.728 (Package-V from Mitrasen to Kanpur) in the state of Uttar Pradesh under Bharatmala Pariyojna to be executed on Hybrid Annuity Mode for a Bid Project Cost of Rs. 2052.0 crore. Five firms participated in the bidding and the price bids were opened on Wednesday, February 12, 2020, with PNC’s bid being the lowest (L1)

The project is to be constructed in 30 months and operated for 15 years post construction. This is the ninth hybrid annuity highway project secured by the company so far

TATA ELXSI

Tata Elxsi’s Smart Assistive Wearable Device Concept for Autism and Alzheimer’s Wins International iF Design Award

Tata Elxsi, a global design company that blends technology, creativity, and engineering, has won this year's iF Design Award, a world-renowned award for design excellence. Tata Elxsi won this award for its innovative and exceptional design concept for Mixed Reality (MR) Based Smart Assistive Wearable Devices.

These devices have been designed by the company to help people with special needs such as Autism or Alzheimer’s to deal with social situations, which they might otherwise find difficult. The system is deliberately discreet and the clever use of audio ensures others in the environment are less aware of the support being provided. For example, the device may help people recognise a person whose name they may have forgotten, or support the individual in stressful situations by playing music or pre-recorded calming phrases.

The devices employ Mixed Reality by taking information from input devices like discrete wearable cameras driving facial and environment recognition and microphones then feeding back to the user using earphones / ear buds and sound collars. These devices in turn help users to participate in social interactions by giving them subtle guides in the form of audio cues

TCS

TCS a Leader and a Star Performer in Enterprise Blockchain Services: Everest Group

a leading global lT services, consulting and business solutions organization, has been named a Leader in the Everest Group PEAK Matrix@ for Enterprise Blockchain Services, for the second consecutive yearl. Additionally, it was named a Star Performer for having top quartile year-on-year improvement in its scores

The report highlights that TCS differentiates itself by building extensive intellectual property encompassing analysis frameworks, delivery methods, proprietary platforms such as Quartz'", and vertical solutions. lt goes on to say that an ecosystem-centered thinking to build inter-industry and use-case-focused networks, helps TCS tap into its strength of running and managing platforms. According to the report, customers value TCS' efforts to help develop business cases and understand return on investment

"Organizotions embrocing Business 4.0" require a shift in their mindsets to succeed in a decentralized ond democratized digital oge. To tap into the abundonce, enterprises need to come together os part of o purposeful, incentivized, intelligent and experiential ecosystem powered by blockchain," Lakshminarasimhan Srinivasan, Global Head, Blockchain Services, TCS.'This recognition is o volidation of our vision and thought-leadership, investments, and copabilities in this spoce."

"Our Quortz Blockchoin solution is fast becoming the preferred choice of customers pursuing ecosystem strategies - creating frictionless tronsactions ond bringing together stakeholders ocross the value choin - because it helps deliver unmotched speed to morket ond is architected to co-exist with extant systems within the enterprise, thereby reducing progrdm risks while getting the futt benefit of the blockchain technology," said R Vivekanand, Global Head, Quartz, TCS

With Business 4.0 as the anchoring framework, Business Value Delivery Model for value realization, and the Quartz Blockchain solution, TCS is in a unique position to advise and support customers in their blockchain journey from ideation to full-scale deployment. This includes advisory services, consulting, methodologies, solutions, platforms, and full stack capabilities.

Quartz - the Smort LedgersrM solution, redefines how organizations can collaborate in an increasingly connected world, and leverage their collective strengths using blockchain technology. The suite comprises Smart Solutions, a set of 'designed for blockchain' business offerings for different industries; the Quartz DevKit, an intuitive, low code development kit for enterprises to quickly build and deploy blockchain applications on any popular blockchain platform; the Quartz Gateway for the integration of existing solutions with blockchain ecosystems; and the Quartz Command Center that can administer and monitor entire ecosystems

WOCKHARDT

Wockhardt to raise INR 1,850 crore by sale of part of portfolio of its Domestic Branded Business

Wockhardt's Board of Directors' today approved divestment of part of Domestic Branded Business to Dr. Reddy's Laboratories Limited comprising of 62 products and related business, assets and liabilities including manufacturing facility at Baddi, Himachal Pradesh, India for a consideration of INR 1,850 crore (~USD 260 Million). The business being transferred reported revenue from operation ~INR 377 crore which is ~15% of the consolidated revenue for 9 months ended 31st December, 2019. The proposed divestment is ~3.8 times of annualized revenue of the business being transferred.

This transaction is expected to be completed in May 2020 subject to Shareholders', Lenders' and other requisite approvals under applicable statutes.

"The intended sale of Business portfolio is in line with the Company's strategic plan to shift from acute therapeutic areas to more chronic business like anti-diabetes, CNS etc. and also to its niche antibiotic portfolio of NCEs. The divestment will also ensure adequate liquidity to bring in robust growth in the chronic domestic branded business, international operations, investments in Biosimilars for the US market apart from the Company's Global clinical trials of Break-through Anti-lnfectives (NCEs approved under coveted QIDP1 program of United States Food & Drug Administration) and R&D activities" said Dr. Habil Khorakiwala, Founder Chairman, Wockhardt Group.

The sale of Business will enable Wockhardt to:

• Have adequate liquidity for robust growth in international operations and investments in Biosimilars for the US market;

• Augment remaining significant Domestic Branded Business portfolio of the Company and re-focus towards chronic segment with differentiated product portfolio;


• Continue its ongoing research and development activities;

 • Necessary action for completion of clinical trials of the Company's breakthrough NCEs in the anti-infective space, duly approved by coveted QIDP Program of United States Food & Drug Administration (US FDA); and

• Strengthen the balance sheet.

Post above sale, Wockhardt continues to own:

• All international operations in UK, USA, Ireland and other locations through its step down subsidiaries.

• Formulation plants located at Waluj, Shendra and Chikalthana in Aurangabad, Bhimpore and Kadaiya in Daman; bulk drugs plant at Ankleshwar, India and manufacturing facilities at all existing international locations.

• Research & Development centers located at Chikalthana, Aurangabad, India and existing facilities in the international locations.

• Significant part of Domestic Branded Business constituting Chronic & Speciality portfolios. The Company engaged M/s. Moelis and Company, r