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DAILY CORPORATE NEWS
Pipavav – Reliance to tie up with Russian company
Reliance Defence would be entering into a tie-up with United Shipbuilding Company (USC) of Russia for building four Frigates for the Indian Navy. The large defence order is expected to cost around Rs30,000 crore.
Rel Infra rises on reports to sell cement business
Reliance Infrastructure surged nearly 8%, touching to Rs493.45, after reports that the company is in advanced talks to sell its cement business for Rs2600 crore.
Reliance Infrastructure is in advanced talks to sell its cement business for Rs2,600 crore ($394 million) and a deal could be announced as soon as this week.
Biocon hits 52-week high on launch of New Hepatitis-C Drug
Shares of Biocon rose over 6%, hitting 52-week high, after the biopharmaceutical company launched an advanced novel therapy CIMIVIR-L for the treatment of Hepatitis C in India.
FIIs can now invest up to 49% in V-Mart Retail
The Reserve Bank has allowed foreign institutional investors to buy up to 49% stake in V-Mart Retail.
Aurobindo Pharma receives USFDA approval for Famotidine Tablets
Aurobindo Pharma has received final approval from USFDA to manufacture and market Famotidine Tablets, 20 mg and 40 mg. This is the 54th ANDA to be approved out of Unit VII formulation facility in Hyderabad, India for manufacturing Oral Non-Antibiotic products.
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