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Announcements
Home >> Markets >> Equity >> Corporate Actions >> Announcements
SKF India

SKF India will hold a meeting of the Board of Directors of the Company on 23 July 2020.

BASF India

The Board of BASF India at its meeting held on 10 July 2020 has approved the acquisition of 100% stake by the Company in BASF Performance Polyamides from BASF Nederland B.V. and BASF SE, for a consideration of an amount not exceeding Rs. 305 crore, including adjustments, if any, at arm's length basis, subject to the approval of the shareholders of the Company, being a related party transaction and such other approvals as may be required in this regard. For this purpose, the Board has also taken into consideration the valuation report issued by Deloitte Touche Tohmatsu India LLP.

BASF Performance Polyamides was incorporated on 31 January, 2011 and is into the business of manufacture/trading of performance polyamides and has one manufacturing site in Panoli, Gujarat. It has wide range of engineering plastics (major brand: Technyl®) and serves automobiles, electrical and consumer goods. The audited aggregate revenue (Operations & Other Income) of BASF Performance Polyamides for the past 3 financial years i.e. FY 2016-17, FY 2017-18 and FY 2018-19 was Rs.131.42 crore, Rs. 174.13 crore and Rs. 246.85 crore respectively.

The acquisition of BASF Performance Polyamides would strengthen the Company's position as a solution provider for key industries & would enhance market access to key growth markets. It would help the Company in expanding its existing ‘Materials' segment and extend value chain through backward integration into key raw materials. The Polyamides business also has operational synergies with the Engineering Plastics business of the Company. The closing of the transaction is expected in the second quarter of the FY 2020-2021.

ITC

ITC has incorporated a wholly owned subsidiary in the name of ‘ITC IndiVision'. The initial subscribed share capital of the said company would be Rs One crore.

Trent

Trent will hold a meeting of the Board of Directors of the Company on 5 August 2020.

Lords Chloro

Lords Chloro Alkali will hold a meeting of the Board of Directors of the Company on 20 July 2020.

Schaeffler India

The Board of Schaeffler India has approved the appointment of E. V. Sumithasri [DIN: 07087197], as an Additional Director to hold office upto ensuing Annual General Meeting and subject to approval of Shareholders, as an Independent Director for a term of five consecutive years, effective from 15 July 2020.

Tata Motors

The Tata Motors Group global wholesales in Q1 FY21, including Jaguar Land Rover, were at 91,594 nos., lower by 64%, as compared to Q1 FY20.

Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range in Q1 FY21 were at 11,598 nos., lower by 89%, over Q1 FY20.

Global wholesales of all passenger vehicles in Q1 FY21 were at 79,996 nos., lower by 49% as compared to Q1 FY20.

Global wholesales for Jaguar Land Rover were 65,425 vehicles (**JLR number for Q1 FY21 includes CJLR volumes of 16,513 units). Jaguar wholesales for the quarter were 17,971 vehicles, while Land Rover wholesales for the quarter were 47,454 vehicles.

**CJLR – It is a JV between JLR and Chery Automobiles and is an unconsolidated subsidiary for JLR

Unichem Labs.

Unichem Laboratories has received ANDA approval for its Baclofen Tablets, USP, 10 mg and 20 mg from the United States Food and Drug Administration (USFDA) to market a generic version of LIORESAL® (Baclofen) Tablets, 10 mg and 20 mg of Novartis Pharmaceuticals Corp.

Baclofen Tablets are indicated for the alleviation of signs and symptoms of spasticity resulting from multiple sclerosis, particularly for the relief of flexor spasms and concomitant pain, clonus, and muscular rigidity. The product will be commercialized from Unichem's Ghaziabad Plant.

TTK Healthcare

TTK Healthcare will hold a meeting of the Board of Directors of the Company on 22 July 2020.

Austin Engg Co

Austin Engineering Company announced that the Annual General Meeting (AGM) of the company will be held on 28 September 2020.

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