Biocon Biologics and Viatris Inc. Receive CHMP Nod for Abevmy® , a Biosimilar to Avastin® (Bevacizumab)

Biocon Biologics and Viatris Inc. Receive CHMP Nod for Abevmy, a Biosimilar to Avastin (Bevacizumab)     Biocon Biologics Ltd.  (a subsidiary of Biocon Ltd.) announced today that the European Medicines Agency’s Committee for Medicinal Products for Human Use (CHMP) has adopted a positive opinion recommending the marketing authorization of their biosimilar Bevacizumab, co-developed with Viatris, to be marketed as Abevmy® (injection bevacizumab 100mg and 400mg). Abevmy® is a biosimilar to Roche’s Avastin® , prescribed for all indications including metastatic colorectal carcinoma, metastatic breast cancer, non-small-cell lung carcinoma, glioblastoma, ovarian,…

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Reliance break another deal, Mubadala to invest ₹ 6,247.5 crore (AED 3.1 billion) in Reliance Retail Ventures”.

Reliance Retail Ventures Limited (RRVL), a subsidiary of the Company, titled “Mubadala to invest ₹ 6,247.5 crore (AED 3.1 billion) in Reliance Retail Ventures”.     Reliance Industries Limited (“Reliance Industries”) and Reliance Retail Ventures Limited (“RRVL”) announced today that Mubadala Investment Company (Mubadala), the Abu Dhabi-based sovereign investor, will invest ₹ 6,247.5 crore (AED 3.1 billion) into Reliance Retail Ventures Limited (RRVL), a subsidiary of India’s Reliance Industries Limited (Reliance Industries). The investment values Reliance Retail at a pre-money equity value of ₹ 4.285 lakh crore. Mubadala’s investment will…

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ITI Limited signs contract with Defense to implement Rs 7796 Crore ASCON Phase-IV project

ITI Limited signs contract with Defense to implement Rs 7796 Crore ASCON Phase-IV project     To strengthen the communication network for Indian Army, ITI Limited, a telecom & defense equipment manufacturing PSU has today signed Rs 7,796 crore Phase IV Project of Army Static Switched Communication Network (ASCON) for deploying strategic network for secured communication across the country and subsequent maintenance for next 10 years. The contract was signed by Shri Rakesh Mohan Agarwal, CMD, ITI Limited and Joint Secretary & Acquisition Manager (Land Systems), Ministry of Defense, Government…

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ICMR approval for HiMedia-Syngene COVID-19 antibody test kit, ELISafe 19TM

ICMR approval for HiMedia-Syngene COVID-19 antibody test kit, ELISafe 19TM     HiMedia Laboratories, a bioscience company with expertise in media manufacturing and diagnostics, and Syngene International, an integrated research and development services company, have collaborated to manufacture ELISafe 19TM, an IgG based ELISA test kit for COVID-19 now approved by the Indian Council of Medical Research (ICMR). The ELISafe 19TM antibody test kit has a sensitivity of 100% and specificity of 99%.   Commenting on the news, Dr. Vishal G. Warke, Director R&D, Cell Culture and Immunology, HiMedia Laboratories,…

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NIIT Limited announces Q1 (April – June 2020) Consolidated Results

NIIT Limited announces Q1 (April – June 2020) Consolidated Results       Revenue recorded at Rs. 201.8 Cr, PAT at Rs. 29.0 Cr.  EBITDA margin recovers to 12.1% after a sharp decline in Q4  CLG records revenue growth of 17% YoY with EBITDA margin of 17%  Adds 3 new MTS logos, taking revenue visibility to $263 Mn NIIT Limited, a global leader in skills and talent development, today reported its results for the first quarter ending June 30, 2020. During the quarter, the company recorded a Net Revenue of…

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Tata Capital Growth Fund to Invest ~USD 30 Million (Rs 225 Crore) in Biocon Biologics for an Equity Stake of 0.85%

Tata Capital Growth Fund to Invest ~USD 30 Million (Rs 225 Crore) in Biocon Biologics for an Equity Stake of 0.85%   Biocon Ltd, an innovation-led global biopharmaceuticals company, today announced that the Board of its subsidiary Biocon Biologics India Limited (Biocon Biologics) has approved a primary equity investment by Tata Capital Growth Fund. As per the terms of the proposed agreement, Tata Capital will invest Rs 225 Crore for a 0.85% minority stake in the biosimilar business, valuing Biocon Biologics at an equity valuation of Rs 26,250 Crore, or…

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Reliance Power and JERA sign Loan Agreement for full financing for their New Gas-fired Thermal Power Generation Project in Bangladesh

Reliance Power and JERA sign Loan Agreement for full financing for their New Gas-fired Thermal Power Generation Project in Bangladesh   Reliance Power Limited (“Reliance Power”) and JERA Co., Inc. (“JERA”), through their project company, are developing a new gas-fired power generation projectin Bangladesh (the “Project”). The project company has now signed a loan agreement for full financing totaling 642 million USD with a group of banks that includes the Japan Bank forInternational Cooperation (“JBIC”). This Project is to build, own, and operate a 745 MW (net output: 718 MW)…

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Vaillant Group Partners with TCS to Drive its Growth and Transformation Program

Vaillant Group Partners with TCS to Drive its Growth and Transformation Program     Tata Consultancy Services (TCS), a leading global IT services, consulting and business solutions organization, has expanded its partnership with Vaillant Group, a global leader in heating, ventilation and air-conditioning technology, to streamline the latter’s business processes and implement those on a single, digital enterprise process platform to support its business model transformation and future growth. Family-owned Vaillant Group has a presence in more than 60 countries worldwide. In some markets, the processes are highly localized, resulting…

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INDIAN ENERGY EXCHANGE ANNOUNCES UNAUDITED FINANCIAL RESULTS FOR THE FIRST QUARTER ENDED JUNE

INDIAN ENERGY EXCHANGE ANNOUNCES UNAUDITED FINANCIAL RESULTS FOR THE FIRST QUARTER ENDED JUNE 30, 2020     • Q1 FY’21 sees 14.5% YoY increase in electricity volumes on the Exchange when overall energy consumption declines 16% YoY • PAT growth of 6.3% YoY in Q1 FY’21 • Exchange power prices down 26% YoY yield significant savings for distribution utilities and Industries • Company plans to introduce new market segments and products Q1 FY21 began with a severe slump in economic activity with IIP contracting by almost 57.6% in the month…

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Max venture India Limiyed shows resilient performance in Q1FY21; reports PAT of Rs. 131 Mn

MaxVIL shows resilient performance in Q1FY21; reports PAT of Rs. 131 Mn     MaxVIL Q1FY21 Financial Highlights:  Consolidated Revenue at Rs. 2,586 Mn  Consolidated EBITDA at Rs. 470 Mn  Consolidated PAT at Rs. 131 Mn Max Estates Q1FY21:  Max House phase 1 has received completion certificate; project to be launched for leasing in Q2FY21  Work on new Grade A+, 0.7 Mn Sq. Ft. office project, Max Square on Noida Expressway with New York Life as 49% equity partner to start in Q2FY21  Max…

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