Jet Airways gains 2% on the report to raise US$400mn capital
Shares of Jet Airways gained 2% in noon trade on Monday after sources said that the company is planning to raise US$350-400mn capital from global private equity firms. The airline is said to have approached Blackstone, TPG, and Indigo Capital Partners for raising the capital, as per the sources. The airline had been trading in the read for the last seven, straight sessions.
In another development, SBI has denied additional funding to Jet Airways. The bank has demanded enough collateral and details on the carrier’s future plans and cash flow position.
Natco and Dr. Reddy’s file for gDoxil in Europe
Natco Pharma has announced that it has filed for Doxorubicin HCL Liposome Injection, a therapeutic equivalent generic version of Doxil for intravenous use for the European Markets with its co-development and marketing partner Dr. Reddy’s Laboratories.
Doxil is a Janssen’s brand, which is predominantly used for the treatment of metastatic breast cancer, advanced ovarian cancer, and progressive multiple myeloma. According to Quintiles IMS, Doxil brand 2mg/ml had sales of ~$130.5mn in Europe for the 12 month period ending December 31, 2017.
Adani Gas bags gas rights for 21 cities; BPCL unit for 11
Multinational conglomerate Adani Group’s gas unit Adani Gas has bagged licenses to retail gas in 21 cities, while a Bharat Petroleum Corporation Ltd (BPCL) subsidiary has won 11 bids in the latest city gas distribution tender, as per results on 78 of 86 cities.
Adani Gas’ rights are related to retail CNG, automobiles, and piped cooking gas to households and industries in 13 cities solitarily and another nine, including Allahabad, in a joint venture with state-owned IOC.
Amara Raja to set up greenfield automotive battery plant
Amara Raja has informed the exchanges that it would be setting up a Greenfield automotive battery plant at an undisclosed location.
"The Board has reviewed and approved a proposal for setting up a Greenfield automotive battery plant (project) with a capacity of 6.5mn units per annum to be implemented in three phases, staggered over a period of time," the battery-maker said in a statement to the exchanges.
L&T bags EPC order worth Rs3,028cr
Larsen & Toubro (L&T) in its building and factories segment has won an engineering, procurement, and construction (EPC) contract worth Rs3,028cr from GMR Hyderabad International Airport (GHIAL), the engineering major said in a release to the exchanges on Monday.
The EPC work order is for the expansion of a terminal building and airside infrastructure works at the Rajiv Gandhi International Airport at Hyderabad, Telangana." This is a brown-field airport expansion project to be handed over within a stringent timeline," the company added in the statement.
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