Bharti Airtel declines as Airtel Kenya, Telekom merger talks
fail
Shares of the country's largest wireless carrier Bharti Airtel
fell 1.80% to Rs381 after merger talks between its Kenyan unit and Telkom Kenya
fell through. Telkom Kenya is controlled by the London based Helios Investment
and is mainly focused on Africa.
As per media reports, the duo planned to take on the market
leading operator Safaricom. They have a combined market of 41million mobile
subscribers, as opposed to Safaricom’s 30million subscriptions, it added.
Reportedly, talks broke down over Airtel's reluctance to make
future investments in Telkom, among other things.
Bharti Airtel Ltd is currently trading at Rs382.65 down by Rs6.1
or 1.57% from its previous closing of Rs388.75 on the BSE.
No communication from SEC on Chanda Kochhar matter: ICICI Bank
Chanda Kochar ICICI Bank, late on Monday night, clarified that it
has not received any specific communication from the US markets regulator to
probe allegations of impropriety against the bank's Managing Director and CEO
Chanda Kochhar.
"As a large and internationally active bank with operations
and listing of its equity and debt instruments in multiple jurisdictions, the
bank is regularly engaged with regulators, including the US Securities and
Exchange Commission (SEC), on a range of matters," the bank said in a
clarification to the exchanges.
BGR Energy surges after securing contract worth Rs431cr from
NPCIL
The Electrical Projects Division of BGR Energy Systems Ltd. has
managed to secure two orders with an aggregate value of Rs431cr from the
Nuclear Power Corporation of India Ltd.
This contract pertains to engineering, manufacturing, procurement,
transportation and storage among other activities of 400KV and 230KV
Switchyards and BoP electrical areas for Tamil Nadu’s Kudankulam Nuclear Power
Plant’s Units 3 and 4.
The completion period for this contract is 60 months.
Suven Life Sciences obtains product patents in China and US
Biopharmaceutical Company, Suven Life Sciences Ltd., on Tuesday
announced that it has been granted one product patent from China and another
product patent from the US for the treatment of diseases associated with
neurodegenerative diseases.
These patents correspond to the New Chemical Entities (NCEs).
Further, the Chinese patent is valid through 2034, while the US patent through
2036.
Orchid Pharma receives EU GMPS at its Alathur API plant
Orchid Pharma has received a EU GMP (Good Manufacturing Practice)
certification on its APl manufacturing facility located at SlDCO Industrial
Estate, Alathur, Kancheepuram. The facility was inspected in November 2017.
Orchid Pharma, due to failure to pay Rs3,500cr, has been referred
to bankruptcy and is currently under Corporate Insolvency Resolution Process.
The lenders to the company rejected the resolution plan in May 2018, which may
push the company toward liquidation.
The company has also received EIR from USFDA for Alathur facility
in Tamil Nadu in September 2017.
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