Cipla may gain after subsidiary forms a pharma joint venture in Iran : 15 Dec 2016

Cipla announced that Cipla Holding B. V., a wholly owned subsidiary of the company in Netherlands, Cipla Netherlands, has entered into a joint venture agreement with Ahran Tejarat Company. The announcement was made after market hours yesterday, 14 December 2016. Cipla Netherlands will hold a 75% stake in a joint venture company in Iran while Ahran Tejarat will hold the remaining 25% stake. Investment by Cipla Netherlands is estimated to a maximum of Euro 16.875 million. The joint venture proposes to undertake manufacturing and marketing of pharmaceutical products in Iran.
Separately, Cipla announced that a meeting of the board of directors of the company is scheduled to be held on 19 December 2016, to consider the proposal of raising funds through issue of equity shares or American depository receipts or global depository receipts or foreign currency convertible bonds or non-convertible debenture (in form of bonds or otherwise) or bonds or any other securities/financial instruments, whether denominated in Indian Rupee and/or foreign currency(ies), either by way of a public issue or by way of a private placement (including through a qualified institutions placement) in accordance with the provisions of the applicable law. The fund raising would be subject to necessary permissions, sanctions and approvals (including shareholders` approval and such other statutory approvals as may be required) and the provisions of the laws.
Axis Bank announced that its board of directors at its meeting held yesterday, 14 December 2016, approved the allotment of non-convertible debentures aggregating to Rs 3500 crore on a private placement basis. The debentures will be listed on the wholesale debt market segment of the BSE and National Stock Exchange of India. The announcement was made after market hours yesterday, 14 December 2016.
Infosys announced that it has made an investment from its Innovation Fund in IdeaForge, an Indian startup focused on Unmanned Aerial Vehicle (UAV) solutions. IdeaForge`s high performance UAVs, which have been designed and built in India, have significant potential in industrial use cases. The investment is subject to receipt of regulatory approvals and customary closing conditions. The announcement was made after market hours yesterday, 14 December 2016.
Unitech reported consolidated net loss of Rs 13 crore in Q2 September 2016 compared with consolidated net loss of Rs 65.70 crore in Q2 September 2015. Total income dropped 42.27% to Rs 385.94 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours yesterday, 14 December 2016.
Ruchi Soya Industries` net profit fell 77.91% to Rs 26.74 crore on 10.6% decline in net total income from operations to Rs 5127.95 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours yesterday, 14 December 2016.
Prime Focus reported consolidated net loss of Rs 36.10 crore in Q2 September 2016 compared with consolidated net loss of Rs 23.30 crore in Q2 September 2015. Total revenue rose 8% to Rs 483.70 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours yesterday, 14 December 2016.
Country Club Hospitality & Holidays reported net loss of Rs 5.86 crore in Q2 September 2016 compared with net loss of Rs 2.96 crore in Q2 September 2015. Net sales fell 18.08% to Rs 59.80 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours yesterday, 14 December 2016.
Cipla may gain after subsidiary forms a pharma joint venture in Iran : 15 Dec 2016  Cipla may gain after subsidiary forms a pharma joint venture in Iran : 15 Dec 2016 Reviewed by Money99 on 16:57:00 Rating: 5

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