AstraZeneca Pharma India, India Grid Trust and ONGC to see some action today

AstraZeneca Pharma India has received Import and Market Permission in Form CT-20 (Marketing Authorization) from the Drugs Controller General of India for Benralizumab 30mg/mL solution for injection (Fasenra). Benralizumab (Fasenra) is indicated as an add-on maintenance treatment for severe asthma with an eosinophilic phenotype in adult patients. The receipt of this permission paves way for the launch of Benralizumab (Fasenra) in India, subject to the receipt of related statutory approvals and licenses.

India Grid Trust has signed a Securities Purchase Agreement on December 18, 2020, for the acquisition of 100% in FRV Andhra Pradesh Solar Farm-I & FRV India Solar Park II - from FRV Solar Holdings XI B.V. The completion of acquisition would depend upon receipt of relevant approvals and completion of contractual obligations.

Oil and Natural Gas Corporation (ONGC) has opened India's eighth hydrocarbon producing basin when it started oil flow from a well in the Bengal basin. Oil production commenced from the well Asokenagar-1 in 24 Pargana district. The well Asokenagar-1 was completed as an oil producer under early-monetisation plan issued by the Government of India. With this ONGC has discovered and put to production seven out of the eight hydrocarbon producing basins of India, covering 83 per cent of established oil and gas reserves.

Syncom Formulations (India) has received approval for the project of expansion cum modernisation of the company's existing plant in Dhar in Madhya Pradesh (MP). The cost of project is estimated to be approximately Rs 40.32 crore including working capital margin of approximately Rs 10.06 crore.

IDBI Bank has raised Rs 1,435 crore through an issue of equity shares to 44 qualified institutional investors. The bank had targeted to raise Rs 2,000 crore (base size Rs 1,000 crore and green-shoe option of Rs 1,000 crore) through the QIP issue at a floor price of Rs 40.63 apiece. The QIP committee of the board of directors at its meeting held on December 19, 2020 approved the issue and allotment of 3,71,808,177 equity shares to 44 eligible qualified institutional buyers at the issue price of Rs 38.60 per share.

Numaligarh Refinery (NRL) has inked Memorandum of Understanding (MoU) with Oil India to augment the existing pumping capacity of the latter through its pipeline. This will help the company to increase product evacuation from 1.72 million metric tonnes per annum (mmtpa) to 5.50 mmtpa through Numaligarh-Siliguri pipeline.

KPR Mill has decided for setting up of new sugar mill with the Sugar - 10,000 TCD, Power - 47.50 M.W and Ethanol - 230 KLPD capacities. In the new unit, the company going for higher ethanol capacity to increase revenue and profitability. The company proposes to convert 30% of sugarcane crushed into Ethanol during season and during off-season, they also proposes to use Molasses to produce Ethanol, so that entire Plant will be run with its own sugar juice and molasses it produces.