Glenmark Pharmaceuticals, Voltas and Rail Vikas Nigam to see some action today

Glenmark Pharmaceuticals’ subsidiary -- Glenmark Specialty SA has received acceptance from the United States Food & Drug Administration (USFDA) on its Investigational New Drug (IND) application for GRC 54276 to proceed with a Phase 1/2, first-in-human, clinical study of GRC 54276 for the treatment of patients with advanced solid tumors and lymphomas.

Voltas’ 100% subsidiary -- Universal MEP Projects & Engineering Services (UMPESL) has bagged multiple SITC project orders worth around Rs 1770 crore in the Electrical Power Distribution business for FY 22-23, including a solar power project. These orders were won in the highly competitive market and will benefit more than 46 million Indians across states like Uttar Pradesh, Madhya Pradesh, West Bengal, Odisha, and Karnataka.

Rail Vikas Nigam (RVNL) has emerged as the Lowest Bidder (L1) for Supply, Installation, Testing and Commissioning of 11 KV Line associated works such as 11 KV line Bifurcation, 11 KV Line Interconnection, 11 KV Line Conductor Augmentation, LT AB cabling augmentation and conversion of LT Bare conductor to AB cabling under Revamped Reforms-based and Results-linked Distribution Sector (Package-12) in Sidhi, Singrauli, Sagar, Damoh, Chhatarpur, Panna and Tikamgarh Circles of MPPKVVCL, Jabalpur Company Area. The cost of project without taxes is Rs 111.85 crore.

Jubilant Ingrevia has acquired 37.98% stake of Mister Veg Foods, an associate company of the Company. This further investment is towards potential synergies with the Nutrition business of the Company. Aggregate consideration for acquisition of additional shares is Rs 2.12 crore.

SBC Exports has been awarded work order for providing office support, project management support and rollout services by Director General Accounts and Treasuries through NICSI, New Delhi. The aggregate purchase order cost of the said work order is Rs 75.69 lakh.

The Board of Directors of Samvardhana Motherson International (formerly Motherson Sumi Systems) at their meeting held on March 16, 2023 approved to acquire remaining 50% stake of Fritzmeier Motherson Cabin Engineering from F Holdings GmbH, Austria, subject to satisfactory completion of conditions precedent. Post completion of the transaction, Fritzmeier Motherson Cabin Engineering (FMCEL) will become wholly owned subsidiary of the Company.

PNB Housing Finance has inaugurated a new branch in Lucknow on March 16, 2023, focusing largely on the Fixed Deposits business opportunity in Uttar Pradesh. The Company will leverage its strong presence in the region, enabling customers to avail the benefits of secure investment options.