Lupin has launched Mibelas 24 Fe (Norethindrone Acetate and Ethinyl Estradiol Chewable Tablets, 1 mg/0.02 mg and Ferrous Fumarate Tablets, 75 mg) having received an approval from the United States Food and Drug Administration (USFDA) earlier. Minastrin 24 Fe chewable tablets had US sales of $360.5 million as per IMS MAT December 2016. Lupin’s Mibelas 24 Fe (Norethindrone Acetate and Ethinyl Estradiol Chewable Tablets, 1 mg/0.02 mg and Ferrous Fumarate Tablets, 75 mg) is the AB rated generic equivalent of Allergan Pharmaceuticals International’s Minastrin 24 Fe Tablets. It is indicated for use by females of reproductive age to prevent pregnancy.
Pennar Industries’ subsidiary Pennar Engineered Building Systems has bagged orders worth Rs 152 crore from Hetero Drugs, Amplus Energy Solution, MELPL, S G Pharma, Shahi Exports and others. The company has bagged first order from Hetero Drugs for its Laboratory Building at Medak in Telangana. The company has bagged second order from Solar Developer for its Solar MMS Project at Banda in UP, third order is from Amplus Energy Solutions for its Solar MMS Project at Chitradurga in Karnataka, fourth order is from Tata Projects for its railway project in Bihar, fifth order is from S G Pharma for its Laboratory building at Maharashtra and sixth order is from Shahi Exports for its manufacturing units at Shimoga in Karnataka.
Marico has successfully commenced the commercial production from its new plant situated on Plot number 99, Brahmaputra Industrial Park, Amingaon, Guwahati, Assam on March 16, 2017. The said plant has been set-up to manufacture value added personal care products. This is the second plant of the company in Guwahati which is now operational. The first plant, manufacturing value added hair oils commenced operations on May 27, 2016.
Techno Electric & Engineering Company has transferred 12 MW Wind Power Assets situated in the State of Karnataka to its wholly owned subsidiary company, Simran Wind Project against issue of shares in the subsidiary company. The effective valuation of the said assets is Rs 45.65 crore. Post this transfer, the company doesn’t hold any wind power assets in its portfolio and the wind power assets of its subsidiary, Simran Wind Project increased to 129.9 MW.
Megasoft, a leading technology company, has been awarded cloud-enabled solution & services contract by the Bihar State Electronics Development Corporation (BELTRON). The state Government of Bihar, through BELTRON, plans to establish state-of-the-art cloud computing facility for use by its various e-Governance programs and other IT-driven initiatives. The company has inked a Memorandum of Understating (MoU) with Bihar government for the same. The cloud-enabled State Data Centre (SDC) named ‘Bihar Cloud’ is one of the important elements for supporting initiatives of National e-Governance Plan (NeGP).
Spice Mobility has received an approval for sale of entire stake in Kimaan Exports, a wholly owned subsidiary, to Spice Digital, another subsidiary of the company. Consequent to this, Kimaan Exports will cease to be a wholly owned subsidiary of the company and become step down subsidiary of the company. The board of directors at its meeting held on March 16, 2017 has approved for the same. The consideration of sale is not less than Rs 62.5 crore based on the valuation report, and will be received in tranches as per the terms agreed between the parties.
KPR Mill has commenced the operations of the ‘State of the Art' Processing Unit II. The advanced technology of cold processing adopted therein reduces the water consumption by 30% and eliminates the usage of Salt completely. This eco-friendly facility will economize the cost of production and enhance the Fabric quality with excellent colour uniformity. This new unit will further add value to the Garment Division.