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Cipla, Aurobindo Pharma, Alkem Laboratories in focus
(08:42, 20 Jun 2022)

Cipla: The drug major on Friday announced that it has signed definitive agreements for acquiring 21.05% stake (on a fully diluted basis) in Bengaluru-based Achira Labs for a cash consideration of Rs 25 crore.

Aurobindo Pharma: The board of directors of the company has approved the acquisition of 51% equity shares in GLS Pharma Limited, operating in oncology business and having manufacturing facility in Hyderabad for a total consideration of Rs 28.05 crore.

Alkem Laboratories: The company informed that US FDA had conducted an inspection of its manufacturing facility located at St. Louis, USA from 6 June 2022 to 17 June 2022. At the end of the inspection, the company has received Form 483 with three observations.

ICICI Bank, Axis Bank: Moody's Investors Service has affirmed the Baa3 deposit ratings of ICICI Bank and Axis Bank. At the same time Moody's has upgraded both the banks' baseline credit assessments (BCA) to baa3 from ba1 reflecting improvements in credit fundamentals, in particular asset quality. The outlook on ratings for both banks remains stable.

Indian Oil Corporation: The state-run oil marketing company issued 25,000, 7.79% unsecured, listed, rated, taxable, redeemable non-convertible debentures (NCDs) of Rs 10,00,000 each, aggregating to Rs 2,500 crore on private placement basis on 17 June 2022.

Mahindra & Mahindra Financial Services: CRISIL Ratings has reaffirmed its ratings on the debt programmes and bank facilities of the company at 'CRISIL AA+/FAAA/Stable/CRISIL A1+'.

Engineers India: The company said that it had been entrusted by its clients for three separate projects across the diversified sectors of specialized chemicals, sunrise and infrastructure.

South Indian Bank: The private lender announced an increase in marginal cost of funds based lending rate (MCLR) by 10-15 basis points across different tenors, effective from 20 June 2022.

Paisalo Digital: The board of the NBFC fixed 1 July 2022 as the record date for the proposed 10-for-1 stock split.

Omaxe: The real estate developer said it has incorporated a wholly-owned subsidiary in the name of Blackbull Retails on 16 June 2022. The subsidiary will carry on the business of construction and real-estate development.

Indian Hume Pipe Company: The company on Saturday announced that it has secured a work order aggregating to Rs 110 crore from civic body in Rajasthan.

Rama Steel Tubes: The board of Rama Steel Tubes is scheduled to meet on 5 July 2022, to consider the proposal for sub-division of company's equity shares having face value of Rs 5 each.

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