GAIL commissions 165km Gorakhpur National Gas Pipeline Project
GAIL (India) Limited has successfully commissioned the 165-km Gorakhpur spur line section under Pradhan Mantri Urja Ganga (PMUG) Natural Gas Pipeline Project, bringing Gorakhpur into the ranks of locations in India covered by natural gas infrastructure.
This marks the completion of the entire 750km long trunk pipeline section-l of PMUG constituting 30% of the initially sanctioned project route. GAIL infrastructure at Gorakhpur is in readiness to commence gas supplies to the upcoming fertilizer plant and the city gas project in the city.
Parag Milk board appoints Venkat Shankar as CEO w.e.f July 4
Parag Milk Foods Limited Board has approved the appointment of Venkat Shankar as Chief Executive Officer of the Company w.e.f. July 4, 2019. Venkat Shankar is also designated as the Key Managerial Personnel of the Company.
Venkat Shankar has more than 15 years of experience in the FMCG (Food) space. His most recent stint was with Britannia Industries Ltd as the VP & Head of the Dairy Business. Prior to joining Britannia Industries Ltd., he has spent 14 years in Pepsico Sales & Marketing and 9 years in Private Equity where he developed cross-functional experience related to investing and growing value.
Lupin gets USFDA nod for Phenylephrine and Ketorolac Intraocular Solution
Pharma major Lupin has received approval for its Phenylephrine and Ketorolac Intraocular Solution, 1%/0.3%, from the United States Food and Drug Administration (USFDA).
Lupin's Phenylephrine and Ketorolac Intraocular Solution, 1%/0.3%, is the generic version of Omidria Intraocular Solution, 1%/0.3%, of Omeros Corporation (Omeros), the company said.
Phenylephrine and Ketorolac Intraocular Solution, 1%/0.3%, had annual sales of approximately USD 42.8 million in the US (IQVIA MAT March 2019).
Indiabulls Housing announces further buyback of NCDs and Masala Bonds
Shares of Indiabulls Housing Finance extended gains for the third consecutive session and were among the top gainers on the Nifty50. The company said it is buying back NCDs maturing in September worth Rs1,375cr and rupee-denominated bonds maturing in October worth Rs1,330cr.
As announced on 20th June 2019, IBHFL has bought back Rs2,173cr of NCDs maturing in July and August 2019.
Further, on the back of strong cash position of the company it will now offer investors, to buyback (early redemption), subject to applicable laws and debenture/bond holders consent: All NCDs maturing in September 2019 aggregating to Rs1, 375cr and these include Rs660cr of NCDs issued by way of public issue, the company added.
DHFL surges over 10% on report of probable fresh line of credit from lenders
Dewan Housing Finance Corporation Limited (DHFL) shares are up 10% in afternoon trade after a Business Standard report said that its lenders were willing to consider the proposal of extending a fresh loan of Rs12, 000-18,000cr over a year.
As per this report, the consortium of lenders, led by Union Bank of India, in the first round of lenders' meet on Monday discussed various possibilities to ensure that their exposure to DHFL would not result in further problems.
The report cited, Since the issue is that of liquidity and not business failure, banks are interested in considering fresh credit lines to DHFL if it could help revive the company lending activities."
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