Surya Pharmaceuticals arm buys US-based ActivOn

Chandigarh-based Surya Pharmaceuticals Ltd said its subsidiary has acquired US-based over-the-counter analgesic drug manufacturer ActivOn for $22 million (about Rs99 crore).

"Surya Pharma's wholly owned subsidiary, Surya Pharmaceutical (Singapore) Pte Ltd, has acquired ActivOn, a leading OTC (over-the-counter) analgesic drug brand in the USA, with global marketing rights," the company said in a filing to the Bombay Stock Exchange (BSE).

The acquisition was financed through a mix of internal accruals and debt from EXIM Bank, the filing added.

Through the acquisition, Surya Pharma will be able to market its products in the US through ActivOn's established marketing network, which includes leading retailers like Walmart, Walgreen, CVS, Rite Aid, etc, it said.

On Tuesday, Surya Pharma gained 5% to Rs30.45 on the BSE, while the benchmark Sensex closed 0.02% down at 20,025.42 points.

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I fully co-operated with the CBI: Raja

Chennai: Former telecom minister A Raja, who is likely to be quizzed again by the Central Bureau of Investigation (CBI) as part of its probe into the second generation (2G) spectrum allocation scam, today said he had “fully co-operated” with the probe agency during his two-day questioning in New Delhi last week, reports PTI.

 

“I have fully co-operated with the CBI,” he told reporters here on his arrival at the airport here from Delhi, two days after the agency grilled him.

 

The 47-year-old DMK leader declined to divulge any details about his questioning.

 

Mr Raja had appeared before the CBI in response to a 20th December notice summoning him; days after his residences in New Delhi and in Tamil Nadu were searched by the agency.

 

On 24th December, he was questioned for nine hours on the controversial advancing of dates for allocation of spectrum and alleged funding of some of the telecom companies by his kin. The next day, CBI sleuths also focused on the tapped conversation of Mr Raja with corporate lobbyist Niira Radia.

 

Sources have said that Mr Raja is likely to be quizzed again as he failed to give satisfactory answers to queries on the advancement of dates and the funding of some of the telecom companies.

 

Mr Raja was forced to resign on 14th November from the Union cabinet in the wake of a Comptroller and Auditor General (CAG) report which held that the spectrum allocation at undervalued prices resulted in a notional loss of Rs1.76 lakh crore to the exchequer.

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COMMENTS

RNandakumar

6 years ago

Raja tried all the ricks in the book claiming innocence first then pointed at the PM. With 2G becoming very hot both his beloved leader as well as Madam washed their hands off him. Then Raja ' co-operated' with the CBI. For the sake of the country and the post he held the nation would really appreciate him if he turns an approver bring to light the modus oprandi of the scamsters to siphon off a sum equivalent to our defence budget.

Personal finance Tuesday

ICICI Pru MF floats 1,100 days plan; SBI Mutual Fund unveils Debt Fund Series–90 Days–37; Tata MF introduces Fixed Maturity Plan Series 29 Scheme C; ICICI Pru MF launches 182 days plan

ICICI Pru MF floats 1,100 days plan


ICICI Prudential Mutual Fund has launched ICICI Prudential Fixed Maturity Plan-Series 53-3 Years Plan B, a close-ended income scheme.

The investment objective of the plan under the scheme is to generate regular returns by investing in fixed income securities/debt instruments which mature on or before the date of maturity of the plan/scheme. The tenor of the plan is 1,100 days. The scheme offers growth and dividend (payout) option.

The new issue opens on 28th December and closes on 6th January. Being a listed scheme, no exit load is applicable. The minimum investment amount is Rs5,000.

CRISIL Composite Bond Fund Index is the benchmark index. The scheme will be managed by Chaitanya Pande.

SBI Mutual Fund unveils Debt Fund Series–90 Days–37

SBI Mutual Fund has launched SBI Debt Fund Series–90 Days–37, a close-ended income scheme.

The investment objective of the scheme is to provide regular income, liquidity and returns to the investors through investments in a portfolio comprising debt instruments such as government securities, PSU & corporate bonds and money-market instruments maturing on or before the maturity of the scheme.

The new issue opens on 28th December and closes on the same day. The minimum investment amount is Rs5,000.    

Tata MF introduces Fixed Maturity Plan Series 29 Scheme C


Tata Mutual Fund has introduced Tata Fixed Maturity Plan Series 29 Scheme C, a close-ended income scheme.

The investment objective of the scheme is to generate income and/or capital appreciation by investing in wide range of debt and money market instruments having maturity in line with the maturity of the scheme. The scheme offers growth and dividend (payout) option.

The new issue opens on 28th December and closes on 29th December. The exit load is nil. The minimum investment amount is Rs10,000.

The benchmark index for the Scheme C is CRISIL Short Term Bond Fund Index. Murthy Nagarajan is the fund manager.

ICICI Pru MF launches 182 days plan

ICICI Prudential Mutual Fund has launched ICICI Prudential Fixed Maturity Plan-Series 53-6 Months Plan A, a close-ended income scheme.

The investment objective of the plan under the scheme is to generate regular returns by investing in fixed income securities/debt instruments which mature on or before the date of maturity of the plan/scheme. The tenor of the plan is 182 days. The scheme offers growth and dividend (payout) option.

The new issue opens on 28th December and closes on 5th January. Being a listed scheme, no exit load is applicable. The minimum investment amount is Rs5,000. 
   
CRISIL Liquid Fund Index is the benchmark index. The scheme will be managed by Chaitanya Pande.

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