Bharti Airtel announced that its board will meet on 20 December 2018 to consider various fund raising options for the company as the board may deem appropriate. The announcement was made on Saturday, 15 December 2018.
Reliance Industries will be watched. With reference to the outcome of a litigation by Airtel and Idea challenging the amendments made by TRAI to the Telecom Tariff Order 1999, Reliance Jio Infocomm, subsidiary of the company, had impleaded itself in the case to put forth its point of view. The order passed by the TDSAT has no impact on Reliance Jio Infocomm. The announcement was made on Saturday, 15 December 2018.
Cadila Healthcare announced that Zydus Cadila has received the final approval from the US Food and Drug Administration (US FDA) to market Albendazole Tablets USP (US RLD — ALBENZA tablets), 200 mg. It will be manufactured at the group's formulations manufacturing facility at SEZ, Ahmedabad. This medication is used to treat certain tapeworm infections (such as neurocysticercosis and hydatid disease). The group also received a tentative approval for Pregabalin Capsules (US RLD — Lyrica) in the strengths of 25 mg, 50 mg, 75 mg, 100 mg, 150 mg, 200 mg, 225 mg and 300 mg. It will be manufactured at the group's formulations manufacturing facility at Moraiya, Ahmedabad. Pregabalin is used to help control certain kinds of seizures, painful nerve diseases and fibromyalgia. The group now has 239 approvals and has so far filed over 340 ANDAs since the commencement of the filing process in FY 2003-04. The announcement was made on Saturday, 15 December 2018.
Wipro and Saxo Bank Group (Saxo Bank), a leading multi asset trading and investment specialist with more than 25 years of Fintech innovation, announced a strategic partnership. Saxo Bank has chosen Topcoder, a Wipro company and the world's largest talent network and crowdsourcing platform for data scientists, programmers and designers, for the execution of digital transformation initiatives at the bank. This engagement will enable Saxo Bank to provide its customers unparalleled access to global financial markets, cutting-edge technologies and industry-leading expertise. The announcement was made after market hours on Friday, 14 December 2018.
Fortis Healthcare will be watched. The Supreme Court maintained a status quo on sale of Fortis Healthcare to IHH Healthcare Berhad. With reference to the Supreme Court order dated 14 December 2018, Fortis Healthcare clarified on Saturday, 15 December 2018, that it is not a party to the judicial proceedings in which the order has been passed. The ex-promoters are no longer a part of Fortis and the judicial proceedings were in matters solely related to them - specifically, in connection with alleged transfer of their shares to Indiabulls Housing Finance, in respect of which contempt proceedings had been sought to be initiated and the transfer itself being sought to be set aside.
The company also emphasized that this order does not impact the preferential allotment that was made to Northern TK Ventures (a wholly-owned subsidiary of IHH Healthcare Berhad) by Fortis on 13 November 2018, in accordance with applicable law, and for which requisite disclosures were made to all relevant regulatory authorities - consequent to which IHH Healthcare Berhad owns 31.1 % equity stake in Fortis. The company is currently evaluating the order and seeking appropriate legal advice. The company said it would subsequently decide its future course of action, also apprise all stakeholders, as may be required.
Solara Active Pharma Science (Solara), a leading active pharmaceutical ingredient provider, announced the successful completion of US Food and Drug Administration (US FDA) inspection at Solara Research Centre(SRC), Chennai with zero 483s inspectional observations. The announcement was made after market hours on Friday, 14 December 2018.
Future Consumer announced that it has sold its stake in Amar Chitra Katha (ACK) for Rs 44.39 crore. Consequently, ACK has ceased to be a subsidiary of the company with effect from 14 December 2018. Further, ACK has allotted 4,977 Compulsory Convertible Debentures (CCDs) to the company for an aggregate amount of Rs 49.77 crore in lieu of the outstanding loans granted earlier, shall be convertible at the expiry of three years at the then prevailing fair value of ACK. The announcement was made after market hours on Friday, 14 December 2018.
Huhtamaki PPL has filed a detailed application with the Maharashtra Pollution Control Board (MPCB) in pursuance of the compliances under the Plastic Waste Management Rules, 2016, which application is pending before MPCB for its review. In the light of the aforesaid application, at the hearing held on 14 December, 2018, the company has withdrawn its appeal before the National Green Tribunal, Pune, with liberty to file a fresh appeal, if required, depending upon the outcome of the MPCB's review, which has been accepted by the National Green Tribunal, Pune. The announcement was made after market hours on Friday, 14 December 2018.