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MARKET WATCH : CORPORATE INFO
Announcements
 
 
               
 
Corporate Events filed by the Companies to the BSE Stock Exchange. Click on more to get detailed news of the same.
 
 
( 28-Mar-2020 )
  Graphite India ( 28-Mar-2020 )

Graphite India announced that ICRA has -

Reaffirmed the long term rating for Rs. 1,000 crore Line of Credit for working capital of the Company at [ICRA] AA+ (pronounced ICRA double A plus). The Outlook on the long term rating has been revised from Stable to Negative.

Reaffirmed the short term rating for Rs. 1,000 crore Line of Credit for working capital of the Company at [ICRA] A1+ (pronounced ICRAA one plus).

  Deepak Fert. ( 28-Mar-2020 )

Deepak Fertilizers & Petrochemicals Corp announced that the company was forced to stop production in its Fertiliser Unit [ANP and NPK] for last 2 days due to evacuation problems arising out of non-availability of transport and manpower for evacuation of finished goods from the plant. The Company has all the approvals in place to continue production of this essential commodity to be able to supply it to farmers but due to complete lock down, it has become impossible to continue production.

Further, the Company due to force-majeure conditions, has not been able to utilise gas for production of fertilisers. The Company would be taking all the measures to resume production with the help of local administration and will inform as and when production of Fertiliser Unit is resumed.

  Hero Motocorp ( 28-Mar-2020 )

Hero MotoCorp announced that in view of the various directives issued by the Central Government /concerned State Governments relating to lockdown and the need for social distancing, the operations at its plants in India will continue to remain suspended beyond 31 March 2020 until 14 April 2020.

  M & M ( 28-Mar-2020 )

Mahindra & Mahindra announced that Mahindra Renewables (MRPL), a step-down wholly owned subsidiary of the Company, has completed the sale of 96,23,000 equity shares of Rs. 10 each held by MRPL in Cleansolar Renewable Energy (CREPL) aggregating to 100% of the paid-up equity share Capital of CREPL to CLP India for a consideration of Rs 108.39 crore.

With this transaction, CREPL has ceased to subsidiary of MRPL and the company.

  Vedanta ( 28-Mar-2020 )

The Board of Vedanta at its meeting held on 27 March 2020 has transacted the following -

1. Taken note of the Resignation of S Venkatakrishnan from the position of Whole-Time Director and Chief Executive Officer of the Company w.e.f. close of business hours on 05 April 2020 on account of personal reasons;

2. Sunil Duggal, Whole-Time Director & CEO of Hindustan Zinc (subsidiary of the Company) to take additional charge as Interim Chief Executive Officer and Key Managerial Personnel of the Company w.e.f. 06 April 2020;

3. Appointment of Anil Agarwal (DIN:00010883) as Additional Non-Executive Director designated as Chairman of the Board of Directors of the Company w.e.f. 28 March 2020.

  Dr Reddy's Labs ( 28-Mar-2020 )

Dr Reddys Laboratories will hold a meeting of the Board of Directors of the Company on 13 May 2020.

  Lupin ( 28-Mar-2020 )

Lupin and Mylan N.V. on 27 March 2020 announced that the European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP) has adopted a positive opinion recommending the approval of Nepexto®, a biosimilar to Enbrel® (etanercept), for all indications of the reference product including rheumatoid arthritis, juvenile idiopathic arthritis, psoriatic arthritis, axial spondyloarthritis (including ankylosing spondylitis and non-radiographic axial spondyloarthritis), plaque psoriasis and paediatric plaque psoriasis.

The positive CHMP opinion is based on a biosimilarity assessment which included preclinical and clinical studies demonstrating bioequivalence to the reference product. In addition, a phase 3 clinical studyi in patients with moderate-to-severe active rheumatoid arthritis confirmed equivalence of Nepexto to the reference product in terms of efficacy, safety and immunogenicity.

The CHMP positive opinion will now be considered by the European Commission (EC). Once approved, the EC will grant a centralized marketing authorization for member countries of the EU. The decision on the EC's approval is expected in May 2020.

In June 2018, Lupin and Mylan announced a collaboration to commercialize a biosimilar to etanercept in several global markets.

  Heritage Foods ( 28-Mar-2020 )

Heritage Foods announced that due to the Global Outbreak of Coronavirus disease 2019 (COVID-19) and in compliance with the directions of the Government of India / State Government our offices and manufacturing plants are working with limited number of employees to ensure supply of "Essential Commodity i.e., Milk and Milk Products to the public.

Further, being a manufacturer of essential commodities viz. Milk and Milk Products, the Manufacturing units situated across India are operating to meet the demand of the Public. In this evolving situation, the overall adverse impact on the operations of the Company is not immediately assessable.

The Company has also filed the 'Company Affirmation of Readiness towards COVID-19' e-form with the Ministry of Corporate Affairs.

  IDBI Bank ( 28-Mar-2020 )

IDBI Bank announced that pursuant to the sudden RBI Policy Rate cut, CRR cut, liquidity support and other measures announced on 27 March 2020 causing significant fall in interest rates in the market, the Bank has withdrawn the issue of Basel III Compliant Tier 2 Bonds for aggregate issue size of Rs.1 000 crore, with a base size of Rs.500 crore and a Green Shoe option to retain oversubscription up to Rs.500 crore.

  Godrej Agrovet ( 28-Mar-2020 )

Godrej Agrovet has entered into a sale deed dated 27 March 2020 (Sale Deed) with Godrej Properties (“GPL”) for the transfer by way of sale of a land parcel admeasuring 82 Acres and 29 Guntas(Approx.) situated at Tiruvaranga Village, Begur Village, Anugondanahalli, Hobli, Hoskote Taluka, Bangalore Rural District, Karnataka (“Relevant Land Parcel”) for a consideration of Rs.134.68 crore.

Consequent to the aforementioned transfer, the Development Management Agreement dated 23 June 2016 (DMA) entered into between the Company and GPL, for the joint development of certain parcels of land admeasuring 100 Acres (approx.) at Tiruvaranga Village, Begur Village, Anugondanahalli, Hobli, Hoskote Taluka, Bangalore Rural District, Karnataka (“Development Land”) (including the Land Parcel being sold to GPL), has been terminated.

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