Reliance Capital gains after Nippon Life increases stake
Reliance
Capital rose over 3%, touching to Rs422.8, after Nippon Life Insurance signed
definitive agreements to increase its stake in Reliance Life Insurance, a part
of Reliance Capital from the existing 26% to 49%.
HC approves Aditya Birla Chem merger with Grasim Inds
Aditya
Birla Chemicals (ABCIL) said that it has received approval from Hon’ble High
Court of Jharkhand for merging the company with Grasim Industries.
Aditya
Birla Chemicals has now announced that the Scheme of Amalgamation of Aditya
Birla Chemicals (India) Ltd. with Grasim Industries Ltd. has been sanctioned by
the Hon’ble High Court of Jharkhand at Ranchi on November 23, 2015,” the
company said
The
two companies of Aditya Birla Group are being merged in order to consolidate
similar businesses under one roof.
Mankind Pharma launches diabetes drug 'Dynaglipt'
Mankind
Pharma has launched an anti-diabetic product 'Dynaglipt' targeting the middle
class and rural diabetic patients. The product, which has been approved by Drug
Controller General of India, is priced at nearly Rs 600 for 30 days therapy to
a patient. Other gliptin-based diabetes medicines cost between between
Rs1,000-1,500 for 30 days therapy.
Titan partners with HP to offer smart watches
Titan
has partnered with HP Inc to offer a range of smart watches to be launched soon
by the company – The development is positive for Titan as smart watch as a
category has started gaining strong acceptance across segments and thus the
partnership will enable Titan to drive growth.
Federal Bank trims base rate to 9.63% p.a.
Private-sector
lender, Federal Bank said that it has reduced the base rate of the bank to
9.63% per annum effective from December 01, 2015.
Bank of India to raise Rs264.12 cr by selling shares to LIC
Bank
of India (BOI) said it will raise capital by allotting two crore equity shares
to LIC at a price of Rs264.12 crore.
The
bank will hold its Extraordinary General Meeting of the shareholders on
December 1, to issue and allot these many shares to LIC.
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