Yes Bank sells 2.56% stake in Coffee Day group-owned Sical Logistics
Sat, Dec 12, 2020 7:30 AM

Yes Bank sells 2.56% stake in Coffee Day group-owned Sical Logistics

Yes Bank on December 11 said it has sold 15 lakh equity shares, equivalent to 2.56 percent stake in Sical Logistics. Yes Bank has sold 15,00,000 equity shares having a nominal value of Rs 10 each, constituting 2.56 percent of the paid-up share capital of Sical Logistics limited (Sical) in various tranches, Yes Bank said in a regulatory filing.

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Multiples Private Equity sells 2.17% stake in PVR for ₹176 crore
Fri, Dec 11, 2020 11:00 PM

Multiples Private Equity sells 2.17% stake in PVR for ₹176 crore

Renuka Ramnath-led private equity firm Multiples Private Equity sold 12 lakh shares or 2.17% of PVR Ltd for ₹176 crore in an open market transaction. According to bulk deal data on BSE, Multiples Private Equity Fund and Multiples Private Equity Fund I Ltd sold 3.07 lakh shares and 8.93 lakh shares respectively at an average price of ₹1470 aggregating to ₹176.41 crore.

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Cipla settles patent litigation for Revlimid with Celgene
Fri, Dec 11, 2020 10:10 PM

Cipla settles patent litigation for Revlimid with Celgene

Pharma major Cipla settled its patent litigation with Celgene Corporation, a wholly-owned subsidiary of Bristol Myers Squibb, relating to patents for Revlimid. “As part of the settlement, the parties will file consent judgements with the US District Court for the District of New Jersey that enjoin Cipla from marketing generic lenalidomide before the expiration of the patents-in-suit.

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BSNL receives permit to offer services in Delhi, Mumbai
Fri, Dec 11, 2020 10:00 PM

BSNL receives permit to offer services in Delhi, Mumbai

The Department of Telecom has granted state-run telecom company BSNL licence for 20 years effective from February 29, 2020, to provide mobile, fixed-line, satellite and other communication services across India, including Delhi and Mumbai. Another state-run PSU MTNL provides telecom services in Delhi and Mumbai and BSNL currently serves the rest of the country.

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IOC introduces convenient 5 kg LPG cylinder as ‘Chhotu’
Fri, Dec 11, 2020 9:47 PM

IOC introduces convenient 5 kg LPG cylinder as ‘Chhotu’

The convenient 5 kg LPG cylinder has been named ‘Chhotu’, the nation’s top oil firm Indian Oil Corporation (IOC) said on Friday. The cylinders are available at various points of sale, including IOC petrol pumps, Indane LPG distributors and department (Kirana) stores and can be purchased by submitting just an ID proof. There is no requirement of address proof for obtaining these cylinders.

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ICICI Prudential's assets under management worths Rs 2 lakh crore
Fri, Dec 11, 2020 9:29 PM

ICICI Prudential's assets under management worths Rs 2 lakh crore

ICICI Prudential Life Insurance Company informed that its assets under management (AUM) have crossed Rs2 lakh cr as it entered its 20th year. The company, launched in 2001 by providing coverage to 7 underprivileged children, had an AUM of about Rs100cr in its 1st year. It grew to about Rs 50,000 crore in FY10, and was first in the domain to achieve an AUM of Rs 1 lakh crore in February 2015.

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Embassy REIT seeks unitholders' approval to raise up to Rs 8,000 crore
Fri, Dec 11, 2020 9:17 PM

Embassy REIT seeks unitholders' approval to raise up to Rs 8,000 crore

Embassy Office Parks REIT's unitholders validated plans to raise up to Rs8kcrore through sale of units to institutional investors, mainly to fund its big-ticket acquisition of 'Embassy TechVillage' in Bengaluru. Embassy REIT is India's first publicly-listed REIT backed by Blackstone and Embassy group. It became listed on stock exchanges last year.

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Canara Bank acquires ₹2,000 crore via QIP; LIC largest investor
Fri, Dec 11, 2020 6:19 PM

Canara Bank acquires ₹2,000 crore via QIP; LIC largest investor

State-owned Canara Bank on Friday said it has successfully collec ₹2,000 crore equity capital by issuing over 19 crore shares to eligible investors. LIC emerged as the largest investor in the bank's qualified institutional placement (QIP) issue. Other investors include BNP Paribas Arbitrage (9.11%), Nippon Life India Trustee Ltd (8.81%), Societe Generale (7.91%) and Kuber India Fund (6.16%).

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ICICI Prudential's asset under management (AUM) crosses Rs2 lakh crore
Fri, Dec 11, 2020 6:09 PM

ICICI Prudential's asset under management (AUM) crosses Rs2 lakh crore

ICICI Bank's life insurance arm, ICICI Prudential on Friday touched a new milestone as the company's Assets under Management (AUM) crosses Rs2 lakh cr for the first time since inception. ICICI Prudential has been in operations since the past 20 years. The company's AUM was at Rs100cr in FY2001, which further increased to Rs50,000cr in FY2010.

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Infosys celebrates 8 years on NYSE; Attains carbon neutrality
Fri, Dec 11, 2020 6:06 PM

Infosys celebrates 8 years on NYSE; Attains carbon neutrality

Infosys, a global leader in next-generation digital services and consulting, will ring the Closing Bell at the New York Stock Exchange (NYSE) on December 11, 2020 to commemorate its eighth anniversary of being listed on the Exchange. Infosys CEO, Salil Parekh, will ring the Closing Bell in a ceremony celebrating the company’s 2020 achievements, including its eight years of trading on NYSE.

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Hindustan Oil Exploration hikes participating interest to 60% in B-80 field
Fri, Dec 11, 2020 6:01 PM

Hindustan Oil Exploration hikes participating interest to 60% in B-80 field

Hindustan Oil Exploration Company Limited (HOEC) on Friday increased its participating interest in Block-80 field to 60% from 50%. It secured a medium-term loan facility of Rs150cr. HOEC affirmed that a Deed of Assignment and Assumption will come into effect with Adbhoot Estates Private Limited (Adbhoot) for assigning 10% of its participating interest in favour of HOEC.

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Moody's elevates Muthoot Finance's outlook to stable
Fri, Dec 11, 2020 5:47 PM

Moody's elevates Muthoot Finance's outlook to stable

Moody's Investors Service upgraded gold loan lender Muthoot Finance Limited's rating to Ba2 and its outlook to stable from negative. Moody's expects Muthoot's financial performance to remain stable over the next 12-18 months, supported by its leading franchise and track record of providing loans against gold jewelry, superior profitability and strong capitalization.

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AstraZeneca to commence human testing to assess its Covid vaccine
Fri, Dec 11, 2020 5:30 PM

AstraZeneca to commence human testing to assess its Covid vaccine

British-Swedish drugmaker AstraZeneca will commence a clinical trial to assess safety and immunogenicity its Covid-19 vaccine along with Russia's Sputnik V vaccine. The company claimed that it will start enrolling adults aged 18 years and older to test the combination. Combinations of different COVID-19 vaccines may be crucial in generating wider protection through a stronger immune response.

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PNC Infratech secures LoA for rural water supply project worth Rs952cr
Fri, Dec 11, 2020 5:21 PM

PNC Infratech secures LoA for rural water supply project worth Rs952cr

PNC Infratech bagged Letter of Acceptance (LOA) in a JV with SPML Infra, for an EPC Project dealing with Survey, Design, Preparation of DPR, Construction, Commissioning and O&M for 10years of Rural Water Supply in 952 villages in Devipatan Division of Uttar Pradesh. The project values approximately about Rs952cr, and is to be constructed and put-on trial in 21 months upon signing of the agreement.

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Prince Pipes introduces Storefit Water Tanks in 3 states
Fri, Dec 11, 2020 5:11 PM

Prince Pipes introduces Storefit Water Tanks in 3 states

Prince Pipes and Fittings Limited (PPF) introduces Prince Storefit Water Tanks in Rajasthan, Haryana and Maharashtra as part of the company’s overhead water storage solutions. These tanks recently received ISI quality certification. With a 30 year legacy in producing high-quality piping systems for plumbing agriculture, & industrial application, the launch extends their product segments.

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