Corporate News of the Day -- IIFL IJK Aurobindo Pharma Ltd has received final approval from the US Food & Drug Administration to manufacture and market Valsartan Tablets. (BL) The National Stock Exchange has given clearance to the Rs.1820mn merger of Gurgaon‐based Satyam Cineplexes Ltd with multiplex chain Inox Leisure. (BS) Maruti Suzuki India Ltd will increase car prices by 4% following the governments decision to halt tax breaks to automakers beyond Dec 31. (BS) Godrej Consumer Products Ltd said it had acquired 100% in South African hair extension firm Frika Hair for an undisclosed amount. (BL) Lupin has launched generic version of Diovan tablets, a hypertension drug, in the US market after getting approval from the American health regulator. (BS) Daimler India Commercial Vehicles a whollyowned subsidiary of Germanys Daimler AG, has signed an agreement with Karur Vysya Bank to provide commercial vehicle loans. (BS) Apollo Hospitals acquires Nova Speciality in a Rs.1450mn deal. (BL) Staff attached to the trade union at ING Vysya Bank will strike work seeking protection employee benefits on January 7, the day when the banks shareholders will assemble to approve the proposed merger of the bank with Kotak Mahindra Bank. (ET) Arvind Remedies said workers of its unit at Kakkalur plant in Tamil Nadu have been on strike for the past few days affecting production. (ET) In a relief to IT firm Tech Mahindra, the High Court of Judicature here dismissed a petition filed by Enforcement Directorate challenging the courts earlier decision of issuing stay orders on agencys attachment of fixed deposit worth Rs.8220mn belonging to the company. (BS) Other News The government decision to permit 100% foreign direct investment in medical devices will take effect from January 21, the Commerce and Industry Ministry said. (BS) Vegetable prices in wholesale markets in the national capital have risen by at least 50% in last one week due to export of key vegetables to Pakistan, says an APMC member. (ET) Indias natural rubber imports in December rose 8% from a year earlier to 29,728 tonnes as a drop in production prompted tyremakers to increase overseas purchases, the state‐run Rubber Board said. (ET) An internal committee of the Department of Telecom is believed to have suggested fixing base price of 3G spectrum at Rs.38.99bn per megahertz, about 43% higher than the rate recommended by sectoral regulator TRAI. (BS)
Posted on: Wed, 07 Jan 2015 03:38:46 +0000
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