IL&FS-Ramky JV emerges as the lowest bidder for four-laning project in Andhra Pradesh

IL&FS Transportation Networks Ltd said its joint venture has emerged as the lowest bidder for the Andhra Pradesh Road Development Corp’s (APRDC) Narketpally-Addanki-Medarametla road (SH-2) project. The estimated cost of the project is Rs1,196.84 crore.

Mumbai-based IL&FS Transportation in a 50:50 joint venture with Hyderabad-based Ramky Infrastructure Ltd will construct the four laning of Narketpally-Addanki-Medarametla road in Andhra Pradesh under public-private partnership (PPP) on build, operate, and transfer (BOT) basis. The project is on toll basis with a concession period is 24 years including construction period of 910 days. The company shall receive a viability gap grant of Rs467.02 crore for the project by APRDC. The company has also received a letter of award from APRDC for the project.

IL&FS Transportation Networks shares ended Tuesday 3.44% up at Rs269.30 on the Bombay Stock Exchange, while the benchmark Sensex closed 2.71% down at 16,022.48 points.

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Allahabad Bank appoints AB Bhattacharjee as CFO

Allahabad Bank said it appointed AB Bhattacharjee, as general manager (finance and accounts) and chief financial officer (CFO).

On Tuesday Allahabad Bank shares ended 3.73% down at Rs151.15 on the Bombay Stock Exchange, while the benchmark Sensex closed 2.71% down at 16,022.48 points.

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Aurobindo Pharma gets FDA approval for Valacyclovir tablets

Aurobindo Pharma Ltd has said that it has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Valacyclovir Hydrochloride tablets 500 mg (base) and 1 g (base).

Valacyclovir Hydrochloride tablets, which falls under the anti-infective therapeutic category are used for the treatment of cold sore, genital herpes and shingles in adult patients and chicken pox in pediatric patients 2-18 years of age.

On Tuesday Aurobindo Pharma shares ended 2.46% down at Rs847.80 on the Bombay Stock Exchange, while the benchmark Sensex closed 2.71% down at 16,022.48 points.

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