Drug major Lupin on Monday said its board has approved selling its entire stake in Japanese subsidiary Kyowa Pharmaceutical Industry to Japan-based private equity fund Unison Capital Partners for an enterprise value of JPY 57,361 million (Rs 3,702.4 crore). The Mumbai-based company has entered into a definitive agreement for sale of its entire stake (99.82 per cent) in Kyowa, Lupin said in a statement.
A total of 696 companies including Pidilite, BHEL, HUDCO, and Cadila Healthcare are scheduled to announce their September quarter numbers today.
Days after a whistle-blower letter accused Infosys CEO Salil Parekh of “unethical practices”, another such letter has now surfaced, which has brought in several personal allegations against him. READ MORE
Global rating agency Moody’s on Tuesday allotted Ba3 rating to the proposed senior unsecured notes to be issued by Tata Motors Ltd (TML) with a negative outlook.
Kesoram Industries said it has got the approval of the National Company Law Tribunal (NCLT) for demerging its tyre business, which would now be listed separately.
Ultratech Cement: UltraTech Cement Ltd on Tuesday said it will sell its entire stake in Bangladesh-based Emirates Cement Bangladesh Ltd (ECBL) and Emirates Power Company Ltd (EPCL) to Germany's HeidelbergCement for an enterprise value of USD 29.5 million (about Rs 211.48 crore).
The Bharti group, through two of its companies, on Tuesday made a conditional bid for the spectrum of Reliance Communications (RCom) even as Reliance Jio asked for an extension of the November 12 deadline to make an offer under insolvency proceedings. READ MORE
Coal India: State-run Coal India on Monday reported a 14 per cent rise in consolidated net profit at Rs 3,522.7 crore for the quarter ended September. The company's net profit stood at Rs 3,084.54 crore in the year-ago period, it said in a regulatory filing.
Aurobindo Pharma: Aurobindo Pharma Limited on Tuesday said its consolidated net profit (after JV share, minority interest) for the quarter ended September 30 was up by 4.6 per cent to Rs 639.5 crore against Rs 611.4 crore in the Q2 FY 19. Revenue from operation grew by nearly 18 per cent to Rs 5600.5 crore. It was Rs 4,751.4 crore during the same period last fiscal, a company press release here said.
VA Tech Wabag: Water treatment player VA Tech WABAG Ltd on Tuesday said it has clocked consolidated profit for the July-September quarter at Rs 23.89 crore. The city-based firm had registered profit at Rs 28.49 crore during the corresponding quarter of previous year.