Tata Sons and Singapore Airlines announced that they have signed a Memorandum of Understanding to set up a full-service airline. (BL) US-based Ohm Laboratories, currently Ranbaxy’s only facility making medicines for the American market, is also learnt to be under surveillance of the US Food and Drug Administration. (BS). Oil India plans to borrow US$1.15bn to finance the purchase of a stake in a Mozambique natural gas field from Videocon Industries. The one-year, dollar-denominated facility will have a size of US$900mn, with an option for the company to borrow US$250m more. (BS) Godrej Properties has raised `7bn by selling fresh shares to existing shareholders through a rights issue. (ET) Titan has said it would use its direct import licence to procure the yellow metal. (BS) Prism Cement has sold its entire stake in LSE-listed Norcros for `2.64bn. (ET) Infosys has received partial relief in a lawsuit that was filed against the company by Versata Software three years ago in a US court. In a summary judgement issued earlier this month, a Texas district court dropped some parts of the claims made by the Versata Software. (BS) The Foreign Investment Promotion Board approved a proposal of Axis Bank to increase the limit on foreign holdings in the lender to more than 49%. (BS) State Bank of India increased its base rate by 10 basis points to 9.80%. (ET) GMR Infrastructure Ltd has divested 74% stake in GMR Ulundurpet Expressways Ltd to India Infrastructure Fund for `2.22bn. (BL) Dr Reddy’s Laboratories Ltd has received approval from the USFDA for Azacitidine injection. (BL) Polaris Financial Technologies has begun exclusive talks with Japanese NEC Corp to sell its services division. (ET) SEBI has said that the deal between Ambuja Cements and Holcim is an “interdependent” and “not independent” transaction. SEBI has asked the bourses to ensure that its comments are brought to the notice of the high court, whose approval is a must for the merger transaction to take place. (ET) YES Bank has raised US$257mn through a two-tranche, dual currency (US dollar and euro) multi-tenor syndicated loan facility. (BL) US Food and Drug Administration has issued an import alert against Ranbaxy’s Mohali plant for not adhering to “good manufacturing practices”. (BL) The Jet-Etihad Airways deal reached the Supreme Court, with Bharatiya Janata Party leader Subramanian Swamy filing a suit seeking to quash the Centre’s approval to the deal. (BS) Zydus group has launched Lipaglyn, its patented new drug for treatment of diabetes. (ET) Lupin has received US drug regulator’s approval to market a generic version of Sanofi Aventis’ L&T’s construction wing has received new orders worth `17.9bn across various business segments in the last two and a half months. (BS) Suzlon Group has sold 75% stake in its China-based manufacturing subsidiary, Suzlon Energy Tianjin, to Poly LongMa Energy (Dalian), for US$28mn. (BL)
Posted on: Sat, 21 Sep 2013 20:33:51 +0000
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