TOP CORPORATE NEWS - 30 JUN 2016

Torrent Pharma gains on acquiring Mfg Unit of Glochem Industries

Shares of Torrent Pharma gained 2.02% to Rs1378 on NSE after the company acquired Manufacturing Unit of Hyderabad based Glochem Industries Limited – Long term positive for Torrent; financial details not disclosed.

Torrent Pharma has entered into a binding agreement to acquire the Vizag API manufacturing unit of Hyderabad-based Glochem Industries Limited along with a few Drug Master Files (DMF) as a going concern on slump sale basis.

Indiabulls Real Estate raises Rs75 crore via NCDs

Indiabulls Real Estate said that it has raised Rs75 crore through issue of non-convertible debentures (NCDs) on private placement basis.

Earlier this month, the Mumbai-based company had announced that it proposes to raise up to Rs200 crore through issue of NCDs on private placement basis.

Alembic Pharma surges on completing USFDA inspection of Guj unit

Shares of drug maker, Alembic Pharmaceuticals surged 6% to Rs578.50 on NSE after the company said that it did not receive any Form 483 observations for its Gujarat facility during USFDA inspection.

The Company's API Facilities i.e. API I and API II both located at Panelav have been successfully inspected by the USFDA between June 20, 2016 and June 29, 2016.

Coal India subsidiary MCL plans to open two Greenfield mines

Coal India’s major subsidiary MCL plans to open two Greenfield mines – positive read thru for CIL

Mahanadi Coalfields, the largest coal producing subsidiary of Coal India (CIL) is aiming to open two new Greenfield (Siarmal and Garjanbahal) coal mines by 2018 as it gears up to reach the targeted production of 250 million tonne (mt) by 2020.

L&T Infotech issue opens from July 11-13

L&T is going to list its IT subsidy L&T Infotech. The Offer will be open for subscription to public from 11 July till 13 July.

The price band is fixed at Rs705 to Rs710 per equity shares.

                             

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