Drug-maker Ranbaxy Laboratories Ltd said its South Africa-based joint venture, Sonke Pharmaceuticals, has won a 913.5 million rand (about Rs605 crore) order from the government for supply of drugs for prevention and treatment of AIDS.
The 913.5 million rand order won by Sonke is a part of a 4.28 billion rand national anti-retroviral (ARV) tender floated by the South African government, Ranbaxy said in a statement.
Sonke Pharmaceuticals, a joint venture between Ranbaxy (Pty) Ltd and Community Investment Holdings (CIH), is the second-largest local supplier of generic ARV medication in South Africa. Gurgaon-based Ranbaxy holds a majority 70% stake in Sonke.
"We are humbled to be given this responsibility to produce, supply and distribute affordable ARVs in South Africa," Ranbaxy Laboratories managing director Arun Sawhney said.
On Monday, Ranbaxy declined 1.20% to Rs541.25 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.12% up at 19,888.88 points.
Unity Infraprojects Ltd has won three work orders worth Rs200.10 crore from IISER College Pune, Orissa Industrial Infrastructure Development Corporation (IDCO) and Kumar Builders Township Ventures Pvt Ltd, Hinjewadi, Pune.
The first order worth Rs88.99 crore from Indian Institute of Science Education and Research, Pune, is for construction of lecture theatre block and laboratory complex at its campus. The completion period of the project is 24 months.
The second order worth for Rs69.15 crore from Orissa Industrial Infrastructure Development Corporation, Bhubaneswar is for construction of a tower at industrial estate, Mancheswar. The contract is to be completed in 24 months.
Unity Infra has also won an order worth Rs41.96 crore from Kumar Builders Township Ventures for construction of SEZ Project (IT Park). The project is to be completed in around 11 months.
On Monday, Unity Infra gained 4.08% to Rs88 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.12% up at 19,888.88 points.
Kotak Mahindra MF floats 370 days scheme; Reliance MF unveils 367 days scheme; Claris Lifesciences debuts at a discount on BSE; Union Bank, Indian Overseas Bank raise lending rates
Kotak Mahindra MF floats 370 days scheme
Kotak Mahindra Mutual Fund has launched Kotak FMP Series 29 (370 days), a close-ended income scheme.The investment objective of the scheme is to generate returns through investments in debt and money market instruments with a view to significantly reduce the interest rate risk. The tenure of the scheme will be 370 days after the date of allotment of units. The scheme offers growth and dividend (payout) options.The new issue opens on 20th December and closes on 21st December. The exit load is nil. The minimum investment objective is Rs5,000. The minimum target amount is Rs1 crore.The benchmark index of the scheme shall be CRISIL Short Term Bond Index. Deepak Agrawal and Abhishek Bisen are the fund managers.
Reliance MF unveils 367 days scheme
Reliance Mutual Fund has launched Reliance Fixed Horizon Fund-XVII-Series 1, a close-ended income scheme.The primary investment objective of the scheme is to generate regular returns and growth of capital by investing in central and state government securities and other fixed income/ debt securities normally maturing in line with the time profile of the scheme with the objective of limiting interest rate volatility. The tenor is 367 days from the date of allotment.The new issue opens on 20 December and closes on 22nd December. The exit load is nil. The minimum investment amount is Rs5,000.CRISIL Short Term Bond Fund Index is the benchmark index. Amit Tripathi is the fund manager.
Claris Lifesciences debuts at a discount on BSE
Drug-maker, Claris Lifesciences, which debuted on the Bombay Stock Exchange (BSE) today, said that the Rs300 crore raised through its initial public offer (IPO) would be utilised for increasing its manufacturing capacity and other expansion plans.The scrip opened at a discount of 1.57% at Rs224.40 as against the issue price of Rs228."We plan to use the proceeds for our expansion plans as well as to increase our manufacturing capacity in the current technologies which we are in. This will help us to scale-up our business," the company's managing director and CEO Arjun Handa, said.The sterile injectables pharmaceutical company, had fixed a price-band of Rs278-Rs293 for its IPO.
Union Bank, Indian Overseas Bank raise lending rates
Union Bank of India has increased its benchmark prime lending rate (BPLR) by 50 basis points (bps) to 13.25%. Indian Overseas Bank also revised its lending rates upwards by 25 bps to 13.25%. The increase will apply to old borrowers who have not migrated to the new base rate system, which was introduced from 1st July to make lending rates more transparent.Union Bank also raised its term deposit rates by up to 100 bps and launched a 700-day product, offering an interest rate of 8.6%.