Tata Metaliks gains 4% after Tata Steel hikes stake
Shares of Tata Metaliks gained 4% on Friday after the company allotted equity shares and convertible warrants worth Rs403.79cr to parent company Tata Steel.
"Tata Steel has acquired 27.97 lakh equity shares at a price of Rs642/share aggregating to Rs179.57cr and 34,92,500 convertible warrants at a price of Rs642/piece aggregating to Rs224.22cr," the company said in a press note to the exchanges on Friday.
Zydus gets USFDA approval for Ambrisentan tablets
Zydus Cadila has received the final approval from the USFDA to market Ambrisentan Tablets USP (US RLD -Letairis Tablets), 5 mg and 10 mg. Reacting to this, shares of the company gained 2% on Friday.
It is used to treat high blood pressure in the lungs (pulmonary arterial hypertension) and will be manufactured at the group's formulations manufacturing facility at SEZ, Ahmedabad. The US sales of Ambrisentan Tablets USP stood at $943mn in 2018.
Adani Logistics to buy Innovative B2B Logistics Solutions
Adani Logistics, a wholly owned subsidiary of Adani Ports, will acquire Innovative B2B Logistics Solutions Pvt Ltd from private equity firm True North for an enterprise value of Rs331.50cr.
The company has approved the proposal for acquisition up to 100% equity shares of Innovative B2B Logistics Solutions Pvt. Ltd. out of which 97.03% of shares will be acquired upon closing from True North and its affiliates and balance shares consisting upto 2.97% held by other shareholders within 60 days of the closing, the company said in the filing.
Lupin launches Fluocinonide ointment
Pharma major Lupin launched Fluocinonide Ointment USP, 0.05%, having received approval from the USFDA earlier. The announcement made after markets hours on Thursday.
Lupin's Fluocinonide Ointment USP, 0.05%, is the generic version of County Line Pharmaceuticals LLC's Lidex Ointment 0.05%. It is indicated for the relief of the inflammatory and pruritic manifestations of corticosteroid-responsive dermatoses, the filing added.
Infosys gains 1% as arm to acquire stake in Dutch bank subsidiary
Shares of Infosys ended 1% higher on Thursday after the company informed that its consulting arm will buy 75% stake in Starter NV, a subsidiary of the Dutch-based ANN AMRO Bank.
The development is a part of the company strategic partnership with ABN AMRO, the company said in a press note to the exchanges on Thursday.
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