UPL stock rises on plan to consider free share issue
Shares of UPL gained 1.5% on the Nifty50 index on Wednesday as the company is going to consider bonus shares.
The meeting of the board of directors of the company is scheduled to be held on May 17, 2019, to consider and take on record the audited standalone and consolidated financial results of the company for the year ended March 31, 2019, the company said in the filing.
The board will also consider dividend on equity shares and issue of bonus shares subject to the approval of shareholders and applicable provisions of the Companies Act and SEBI Regulations, the company added.
Natco gets approval for Nitroglycerin Sublingual tablets
Natco Pharma in its filing to the exchanges on Wednesday informed that the company marketing partner Alvogen has received the final approval of Abbreviated New Drug Application (ANDA) from the US Food and Drug Administration (FDA) for Nitroglycerin Sublingual Tablets USP, 0.3 mg, 0.4 mg, and 0.6 mg.
Nitroglycerin sublingual tablets are used to treat episodes of angina (chest pain) in people who have coronary artery disease (narrowing of the blood vessels that supply blood to the heart), the company added in the press note.
Jet Airways Goyal offers Rs250cr for immediate needs
Jet Airways founder Naresh Goyal has offered an infusion of Rs250cr of his own funds into the debt-ridden airline company for its immediate requirements, media reports stated.
The founder wrote a letter to the company employees, declaring availability of funds to the banks that now control the airline. It further added that, he would invest the funds from Jetair Pvt. Ltd, a company that he controls.
DHFL gets NHB nod to sell stake of Aadhar Housing Finance to Blackstone arm
Dewan Housing Finance (DHFL), in its press note, informed that the company has received approval from the National Housing Bank to sell its entire stake of 9.15% in Aadhar Housing Finance to Blackstone arm.
Accordingly, the divestment of the company's stake in Aadhar is expected to be completed shortly, DHFL said in a press note after markets hours to the exchanges on Tuesday.
Alembic Pharma forms JV with SPH Sine Pharma, Adia Shanghai
Alembic has entered into a Joint Venture Agreement ('JVA') with SPH SINE Pharmaceutical Laboratories Co Ltd, China ('SPH Sine') & Adia (Shanghai) Pharma Co Ltd, China ('Adia') to promote and sell pharmaceutical products for the Chinese market. Initially this JV will commercialize products manufactured by Alembic Pharmaceuticals Limited.Subsequently the JV plans to set up a manufacturing facility in China.
The JV will commercialize products in the Chinese market which has an increasing demand for generic drugs. It will initially launch with a portfolio of oral solids and is expected to widen to other areas like injectable, ophthalmology, dermatology & oncology which are being currently developed and manufactured by Alembic.
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