Hide News  Lupin in focus after announcing acquisition of ZAO Biocom
Jul 03, 2015  08:37

Lupin after market hours yesterday, 2 July 2015, announced the acquisition of 100% equity stake in ZAO �Biocom� in Russia subject to certain closing conditions. The acquisition marks Lupin's foray into the Russian pharmaceutical market which recorded RUB 765 billion in sales, placing it as one of the top 10 pharmaceutical markets in the world in 2014 (IMS Health).

Commenting on the acquisition, Vinita Gupta, Chief Executive Officer of Lupin said that Russia is an attractive market and this acquisition will also enable the company's expansion into neighboring markets as well as other Eastern European markets in the future.

ABB India said that the board of directors of the company at its meeting held on 2 July 2015, has approved the proposal to raise money to the extent of Rs 600 crore by way of issuance of unsecured listed redeemable non-convertible debentures on private placement basis to investors on such terms and conditions as may be decided by the board. The issuance would be subject to the approval of the shareholders by way of a special resolution through postal ballot. The announcement was made after market hours yesterday, 2 July 2015.

Rajesh Exports said that the board of directors of the company at its meeting held 2 July 2015, have approved to make acquisition/s in Europe in the range of $250 million to $500 million. The acquisition has been approved to strengthen the backward integration of the company and to strengthen the domestic and global presence of the company in gold business. The announcement was made after market hours yesterday, 2 July 2015.

Shares of Pfizer turn ex-dividend today, 3 July 2015, for dividend of Rs 12.50 per share for the year ended 31 March 2015.

Shares of Zensar Technologies turn ex-dividend today, 3 July 2015, for final dividend of Rs 6.50 per share for the year ended 31 March 2015.

Spice Mobility said that Spice Digital (SDL), a subsidiary of the company, has acquired 26% stake in Creative Functionapps Lab. Creative Functionapps is engaged in the business of telecom and mobile internet and developing innovative products and solutions for the next generation telecom networks. The products and solutions of the company range from analytics based telecom network performance and monitoring to mobile and internet consumer services. Consequent to the said acquisition, Creative Functionapps Lab has become an associate company of SDL. The announcement was made before market hours today, 3 July 2015.

Salora International said that the company at its board meeting held on 2 July 2015 has approved the proposal to set-up a manufacturing line for commercial production of mobile phones at company's factory premises at Noida, Uttar Pradesh. The announcement was made before market hours today, 3 July 2015.

Sanghi Industries said after market hours yesterday, 2 July 2015, that it has installed the new cement grinding mill having capacity of 1.2 million metric tonne per annum (MMTPA) at company's plant located in Kutch District, taking the total capacity to 4.1 MMTPA. The company propose to commence work on installation of 15 MW waste heat recovery system (WHRS) in company's main plant.

Precision Wires India said that a meeting of the board of directors of the company will be held on 23 July 2015, to consider 2-for1 stock split. The announcement was made after market hours yesterday, 2 July 2015.

Bliss GVS Pharma said after market hours yesterday, 2 July 2015, that its step down subsidiary Bliss GVS Healthcare in Kenya has recently won a annual service contract relating to medical healthcare cover equivalent to $35 million in association with Aon Kenya Insurance Brokers. This contract will covers out-patient services for over 2.88 lakh teachers who are members of the Teachers Service Commission of Kenya.

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