Company Updates 11.1.2022

Aurobindo Pharma Limited 

CuraTeQ and Orion expand licensing deal for biosimilars distribution in select European markets

Aurobindo Pharma Limited (along with its subsidiaries together referred to as “Aurobindo”) announced that its subsidiary CuraTeQ Biologics Pvt Ltd. (CuraTeQ) has expanded the scope of its marketing and distribution agreement with Orion Corporation (Orion) to commercialize its biosimilars pipeline to include the Baltic states in Europe. Earlier in 2020, CuraTeQ and Orion had entered into a licensing agreement, granting marketing and distribution rights for CuraTeQ’s biosimilar products under development in the Nordic states, Austria, Hungary and Slovenia.

Under the terms of the agreement, Orion will be responsible for commercialization of CuraTeQ’s biosimilar products, currently in various stages of development/filing for the partnered territories. CuraTeQ will leverage Aurobindo’s established commercial presence in the nine European markets, including United Kingdom, France, Germany, Spain, Italy, Portugal to commercialise the biosimilar products in these markets (nonpartnered).

CuraTeQ filed its first oncology biosimilar product with the European Medicines Agency (EMA) in September 2021 and filed its second biosimilar product, also in the oncology segment on January 10, 2022

Virve Laitinen, SVP Specialty Products of Orion Corporation said, “We are pleased to further expand our longterm collaboration with Aurobindo and CuraTeQ. Overall, this agreement will strengthen Orion’s position as one of the leading generics providers in the Nordics and Baltics as we can make these cost-effective treatments available for health care professionals and patients.”

“Orion has a demonstrated and proven track record of successfully commercializing biosimilars in the Nordic and Baltic states in Europe. Orion’s understanding of the biosimilars adoption along with extensive commercial infrastructure in the NORDICS and other territories in the EEA make it an ideal partner to expand the accessibility of our biosimilar products in selected markets of Europe, complementing our group’s wide footprint in other European markets.” said Dr. Satakarni Makkapati, CEO of CuraTeQ.

Mr. Nithyananda Reddy, Vice Chairman & Managing Director, Aurobindo Pharma Ltd said, ”We remain committed to expand the reach of our affordable, high quality products to patients globally and the strengthening of partnership with Orion provides our biosimilar products a pan-Europe access. We are encouraged with our progress on biosimilars development and look forward to execution of the same in the coming years.” 

DLF clocks sales worth INR 1500 crores for its initial offering in ONE Midtown, a newly launched luxury residential project in New Delhi 

Scripting another chapter of success in India's residential real estate segment, DLF Limited, India’s largest listed real estate company has clocked sales worth approximately 1500 crores for towers in the first phase of the newly launched luxury residential project, ONE Midtown. 

Commenting on the occasion, Aakash Ohri, Group Executive Director and Chief Business Officer, DLF Home Developers Ltd. said, “Given the challenging times the entire world is going through, we are deeply appreciative and grateful of the fact that this launch sparked such a gratifying response from home buyers. The numbers are impressive and speak volumes of the inherent value of this project. ONE Midtown will be an inimitable addition to the New Delhi skyline. With its unrivalled location, striking facade, impeccably designed residences, and a host of lifestyle amenities, it will be undoubtedly one of the most coveted new developments in the heart of New Delhi. We expect ONE Midtown to set the benchmark for a new way of living in the capital city.” 

Located in West Delhi, ONE Midtown boasts of 4 towers soaring to 39 floors each, offering its residents panoramic views of the acres of greenery surrounding it. The 913 spacious and elegant apartments, come with a choice of two, three or four bedrooms. Available residences at ONE Midtown are priced at INR 3 crores onwards. 

DLF Midtown is a thriving community, with three existing residential complexes titled Capital Greens I, II and IIL With truly modern facilities, a community centre, two fully equipped clubhouses and multi-tier security, they are home to over 2,700 happy families. ONE Midtown is the newest addition in the development. 

Speaking on the location of the new project, Aakash Ohri added, “Our newly launched residential offering “ONE Midtown’ will cater to the rising demand for luxury condominiums in the capital. It is located in West Delhi, which is one of the most culturally significant sections of the national capital, epitomising the unique amalgamation of Indian family values and modern urban lifestyles. It ticks all the boxes of location, amenities, luxurious facilities, contemporary infrastructure and connectivity. Alongside, the residents will enjoy the conveniences and comforts offered by the DLF ecosystem.” 

ONE Midtown will enjoy all the locational advantages of West Delhi. It is close to popular sites like Connaught Place, Karol Bagh, New Delhi Railway Station and more. Reputed schools, colleges, hospitals and shopping hubs are within easy access. 

The connectivity is enviable. It is served by the Blue, Pink, Green and Red lines of the Delhi Metro. As many as five Metro Stations are within three kilometres. Planned for future are the Delhi Metrolite project from Kirti Nagar to Sector 25, Dwarka and many more projects. The proposed construction of signal-free underpasses on Patel Road will further reduce commute times. 

ONE Midtown has been designed by DP Consultants Pte. Ltd. of Singapore, and the design philosophy finds expression in the high priority given to green open spaces dotted by arange of pools and water bodies. Attractive features like a pool tree garden and landscaped terraces add to its appeal. The creative landscaping has been done by MPFP plic of New York. 

Its exquisite clubhouse will offer a restaurant, café, tea lounge, al fresco dining area, meeting room, card room and a spa and salon. Other lifestyle amenities spread across the complex include a gymnasium, multipurpose hall, créche, children’s play area, games room and a convenience store. 

The residential complex is protected by a 5-tier professional security system which covers the periphery, parking, common areas, floors, and the apartments. Uninterrupted power and water supply are ensured. 

This GRIHA registered project has been built with sustainability at its core. Solar panels on the terraces and energy-efficient lighting in the common areas reduce power consumption. There is a provision for the charging of batteries in electric vehicles. The dual plumbing system used recycled waste water for flushing and horticulture. There is a centralised sewage treatment system and facilities for rainwater harvesting. Sustainable building materials have been used to design this future ready development. 

For DLF, the vision behind DLF Midtown is to replicate the success of Gurugram’s DLFS5, in the national capital, by creating a seamlessly integrated ecosystem of luxury residences, office and commercial spaces, with retail and recreation centres to be added in the future. Within the most valued lifestyle necessity - rolling acres of greenery. 

IRCTC

pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and in furtherance to above referred letter, it is to be informed that in view of the resurgence of COVID cases, IRCTC has decided to reduce the frequency of train no. B2gO2l B2gOl ADI - MMCT - ADI Tejas express from present 5 days a week to 3 Days in a week w.e.f 12.01.2022112t, inclusive) to 1O.2.2022 (train shall not operate on Wednesday and Monday in each week).

The train is planned to continue running 5 days a week as per present schedule w.e.f from 11.O2.2O22.

L&T Heavy Engineering Dispatches Mega Tubular Reactors

The Heavy Engineering arm of Larsen & Toubro dispatched two large Ethylene Oxide Reactors, weighing 1,200 Tons each from Hazira, Gujarat to a large petrochemical complex overseas. 

This was a repeat order after four identical Reactors were supplied by L&T to the same client in 2020 amidst Covid-19 pandemic during the first wave. The Reactors were manufactured at L&T’s state-of-the-art Heavy Engineering Complex located at Hazira near Surat.

These highly complex reactors are crucial equipment for production of Mono Ethylene Glycol in the petrochemical complex. 

Commenting on the occasion, Mr. Anil V. Parab, Member – L&T Executive Committee, Senior VP & Head Heavy Engineering said, “Such a repeat order is testimony of our unique ability to handle these large & complex equipment and customer’s confidence on our reliable delivery performance even during the unprecedented Covid-19 pandemic.”

“Our focus on high-end products, in-house development of distinctive manufacturing technologies and various digitalization initiatives have helped us to become a reliable partner to our clientele. Delivering such a key equipment to our client, meeting all the requisite international quality and safety standards, is a matter of great pride for us,” added Mr. Parab. 

L&T’s ‘A. M. Naik Heavy Engineering Complex’ is a Globally benchmarked, state-of-the-art, fully integrated, digitally-enabled manufacturing facility. It continues to contribute to the “Make in India” mission. All L&T Heavy Engineering facilities are well equipped with Industry 4.0 solutions for engineered-to-order manufacturing. The heavy engineering business of L&T has a proven track record of supplying technology-intensive equipment and systems to global customers in the Refinery, Oil & Gas, Petrochemicals, Fertilizers and Nuclear Power sectors

LTI Partners with Securonix & Snowflake to Strengthen Cybersecurity Offerings 

a global technology consulting and digital solutions company has partnered with Securonix, a leader in next-gen Security Information and Event Management (SIEM) company, and Snowflake, a leader in secure cloud workload to strengthen its cybersecurity offerings

The partnership will power LTI’s Active eXtended Detection & Response platform (Active XDR) for early detection of internal and external threats, contextualizing and combating threats with advanced intelligence-led hunting operations, and automating incident response time. LTI Active XDR uses a secluded data lake to secure billions of sensitive alerts and records.

Sanjay Jalona, CEO & Managing Director, LTI said, “Guarding against cyber threats has become a top priority for every enterprise. LTI Active XDR, backed by the latest technologies from Securonix and Snowflake will strengthen our ability to combat ever-growing threats, responding to increasing ransomware attacks and phishing campaigns on critical infrastructure, large enterprises, and federal sector.” 

Sachin Nayyar, CEO, Securonix, said, ‘Bring your own Snowflake’ is an ideal managed service program, significantly reducing the costs and complexity of scaling advanced threat detection and response services across multiple customer environments. We look forward to bringing additional solutions to market with LTI that more effectively secure today’s cloud and complex enterprise environment.”

Christian Kleinerman, SVP of Product at Snowflake, said, “Chief Information Security Officers (CISO) are looking for alignment with the CIO to gain richer insights, improve scalability and drive savings. LTI is a strategic partner for Snowflake that has been recognized for its innovation and ability to help customers migrate from legacy solutions. We look forward to extending our partnership into cybersecurity together with industry-leader Securonix and its cloud-native ‘Bring your own Snowflake’ SIEM solution.” 

LTI’s approach to cybersecurity is based on ensuring business continuity, brand equity and external compliance management. Equipped with the state-of-the art Cyber Defence Resiliency Centres (CDRCs), a centre-of-excellence (CoE) for cyber security, LTI is responding to the need of the hour and scaling its advanced cyber security managed services to its enterprise customers across the globe.

Marksans Pharma Limited announces final approval for Cetirizine Hydrochloride Tablets 5 mg and 10mg from US FDA

Marksans Pharma Limited (Reuters: MARK.BO; Bloomberg: MRKS IN; NSE: MARKSANS; BSE: 524404) hereby announces that it has received final approval from US Food & Drugs Administration for its Abbreviated New Drug Application (ANDA) for over the counter (OTC) Cetirizine Hydrochloride Tablets 5 mg and 10mg. It is indicated for the treatment of the perennial allergic rhinitis including sneezing, rhinorrhea, postnasal discharge, watery eyes, running nose. The product will be marketed under store brand labels and is comparable to the brand Zyrtec

Tata Consumer Products appoints Gharry Eccles as President- International Business

Tata Consumer Products, the consumer products company uniting the principal food and beverage interests of the Tata Group under one umbrella, announced the appointment of Gharry Eccles as President- International Business effective January 17th , 2022. He will be based in Greenford, London. Adil Ahmad who currently holds this role, will be retiring from the Company on May 31st, 2022 after a successful tenure of 7 years. During his tenure, Adil led several initiatives to strengthen the International Business and deliver strong performance across key markets. Gharry will work closely with Adil over the next several months to ensure a smooth and seamless transition.

Gharry was earlier with Cereal Partners Worldwide– a joint venture between Nestle and General Mills, where he was Vice President, with business responsibility for the UK, Ireland, Australia and New Zealand covering over 1000 employees, 3 factories and 2 R&D centres. He bringsrich experience in consumer products from organizations such as PZ Cussons PLC, Muller Dairy Ltd, The Wrigley Company and Kimberly Clarke, Europe. 

Thomas Cook India expands presence in the Capital to target strong growth potential of Delhi-NCR

Opens new Gold Circle Partner (Franchise) outlet at Laxmi Nagar, Delhi Extends consumer access in Delhi-NCR to 13 outlets

Thomas Cook (India) Ltd., India’s leading integrated travel services company inaugurated a new Gold Circle Partner (franchise) outlet in Delhi. This expansion augments Thomas Cook India’s distribution and reach in Delhi-NCR to 13 consumer access centres: 6 owned branches and 7 Gold Circle Partner (franchise) outlets. In addition to serving the financial hub of Laxmi Nagar, the new outlet will serve as a hub for nearby residential areas of Nirman Vihar, Karkardooma, Preet Vihar as well

In the new age of travel (Covid-era), customers are understandably seeking the guidance and reassurance of holiday experts to navigate through the complexities and changes in travel and health protocols. Thomas Cook India’s internal survey reiterates the same, with a significant 77% respondents stating that they require guidance of a holiday expert. To help customers with their travel plans and requirements, Thomas Cook India has set up a new Gold Circle Partner franchise outlet at Laxmi Nagar, Delhi.

Additionally, to build consumer confidence in travel, Thomas Cook India has launched “Assured” Safe Travel Program - developed in association with Apollo Clinics that ensures best in class travel safety protocols covering every distribution, delivery, and partner touch points in the travel ecosystem. “TravShield” an upgraded safety commitment of only vaccinated staff and co-passengers among many other precautions, ensuring traveller safety in the pandemic era.

Consumers are showcasing a strong pent-up demand and with vaccine acceptancy, consumers from Delhi NCR are displaying a strong travel desire for domestic favourites like Goa, Andamans, Kashmir, Himachal Pradesh, North-East; international destinations like Maldives, Dubai, Abu Dhabi, Sri Lanka, Switzerland, France, Turkey and Egypt. Key segments driving leisure demand from Delhi-NCR include families, couples, group of friends/young professionals, and business travellers. Culture and heritage, adventure/outdoor, culinary experiences, and spa/wellness are top preferred holiday options for consumers from Delhi-NCR

Thomas Cook’s Gold Circle Partner outlet at Laxmi Nagar in Delhi, offers consumers end-to-end travel solutions with an array of travel and travel related services, including: International & Domestic Holidays (Group Tours, Personalised holidays, Cruises, etc.), Value Added Services like Travel Insurance; Visa Services, etc.

United Drilling Tools Limited - Exposure to International Market

 

United Drilling Tools Ltd. (UDTL) (BSE — 522014, NSE — UNIDT) is pleased to inform that it has appointed a reputed Marketing Associate and Representative in Vietnam to promote its products for Oil & Gas exploration equipments in the region.

UDTL has executed several orders through its marketing representatives. Recently, some of its bids are under active consideration for projects in Vietnam, which are expected to convert into orders. 

This representation will open opportunities for UDTL to expand its market base in Vietnam with major E&P companies like Vietnam National Petroleum Group, Vietnam Oil and Gas Group, Vietsovpetro, PJSC Rosneft Oil Company, Petro - Vietnam and PerencoSA. 

Further, recent expansion of offshore exploration and production (E&P) activities in Vitenam have steadily created a growing market for oil and gas equipments with an addressable market size estimated at approximately INR 400 Crores. This will open up a sizable opportunity for UDTL to increase its market share in Vietnam. 

Brief on Vietnam Oil & Gas Market

Vietnam oil and gas market is expected to grow at a CAGR of more than 4.57% during the forecast period of 2020 - 2025. The crude oil reserves in Vietnam are the 24 largest in East Asia after China with 4.4 billion barrels or 630 million tons. The estimated market size for Oil & Gas Exploration equipments is around INR 400 Crores.    

The major E&P Companies Petro Vietnam (PVN) and Japanese operator JX Nippon have signed an agreement on the continued production and development of Vietnam's offshore reserves.