Biocon's arm expands tie-up with Bristol-Myers

Bristol-Myers Squibb, the NYSE listed global pharma major and Syngene International, the contract research subsidiary of India’s largest publicly held biotechnology company Biocon, have expanded their drug discovery and development collaboration in India for five more years. Since 2007, Bristol-Myers Squibb has been working with Syngene and its corporate parent, Biocon, to develop integrated capabilities in medicinal and process chemistry, biology, biotechnology, biomarkers, drug metabolism and pharmacokinetics, analytical research, and pharmaceutical development at the Biocon Bristol-Myers Squibb Research Center (BBRC) in Bangalore. The US-India collaboration has produced six drug candidates for further study and also helped Bristol-Myers Squibb reduce the time and costs associated with advancing new compounds to first-in-human studies. One drug candidate currently in clinical trials was discovered at BBRC and early nonclinical development work done at BBRC has enabled most of Bristol-Myers Squibb’s small molecule assets to advance to later stages of development over the last five years. Biocon is India’s largest and Asia's leading biotechnology company with a strategic focus on biopharmaceuticals and research services. It is a fully integrated, innovation-driven biopharma enterprise offering affordable solutions for chronic diseases to patient's worldwide.

Fire breaks out at RIL’s Poly Butadiene Rubber plant in Vadodara

A minor fire broke out at Reliance Industries (RIL) finishing line of Poly Butadiene Rubber plant in Vadodara. The fire was expeditiously brought under control by the fire fighters at the plant.

No one has been injured in the incident. The cause of fire is being investigated. Alternate finishing line is taken into production and hence there will be no impact on production. All other units are functioning normally.

Reliance Industries, is a Fortune Global 500 company and is the largest private sector company in India. Its activities span exploration and production of oil and gas, petroleum refining and marketing, petrochemicals (polyester, fibre intermediates, plastics and chemicals), textiles, retail, infotel and special economic zones.

ABB India plans to collaborate with universities in India

In a bid to develop cost efficient manufacturing solutions, ABB India is planning to tie up with universities in India. The company spends over $ one billion each year globally on research and development. The objective of the research is to look for new materials and manufacturing techniques which will cut down the dependence on imports and reduce overall costs. Further, the company is planning to cut down its import bill, which is currently pegged at 30-32 per cent of its expenditure, by carrying out an indigenisation programme. The programme does not just cover local sourcing or local manufacturing; it also looks at the design aspect of the products. ABB is a leader in power and automation technologies that enable utility and industry customers to improve their performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs more than 150,000 people.

Bharti Airtel to sell over 15,000 towers in Africa: Report

In a bid to reduce debt, Bharti Airtel is reportedly planning to sell over 15,000 towers in Africa for about $2-3 billion. In this regard, the company has shortlisted four companies for the sale including Helios Towers Africa, American Tower Corporation and Eaton Towers. The net debt of the company at the end of March 31, 2014 stood at Rs 60,541.6 crore. The company has also been raising money through foreign currency bonds in order to reduce debt. In May, it raised around $2 billion in a dual currency international bond sale. Airtel had entered the African market in 2010 after acquiring Zain Telecom for about $10.7 billion. The company now offers services in 17 African countries but is yet to turn profitable. Bharti Airtel is a leading integrated telecommunications company with operations in 20 countries across Asia and Africa. The company ranks amongst the top 5 mobile service providers globally in terms of subscribers.

Titan Company surges as its arm Tanishq plans to open 30 new stores in FY15

Titan Company is currently trading at Rs 327.05, up by 7.15 points or 2.24% from its previous closing of Rs 319.90 on the BSE. The scrip opened at Rs 322.00 and has touched a high and low of Rs 328.40 and Rs 322.00 respectively. So far 84221 shares were traded on the counter. The BSE group 'A' stock of face value Rs 1 has touched a 52 week high of Rs 347.65 on 22-May-2014 and a 52 week low of Rs 200.00 on 13-Jun-2013. Last one week high and low of the scrip stood at Rs 324.95 and Rs. 309.25 respectively. The current market cap of the company is Rs 28400.28 crore. The promoters holding in the company stood at 53.05% while Institutions and Non-Institutions held 24.10% and 22.84% respectively. Titan Company’s jewellery retail chain arm -- Tanishq -- is all set to spend heavily on expansion with 30 new stores in the offing during the year 2014-15. These stores will be company owned and on franchise model. Moreover, the company is expecting 15% growth in turnover for this fiscal. Currently, Tanishq has around 5% market share in the organised jewellery market of India. Titan Company is an Indian designer and manufacturer of watches, jewellery, precision engineering components and other accessories including sunglasses, wallets, bags and belts.

FIIs were net buyers of Rs 299.71 crore in index futures and options segments on June 3

According to the data released by the NSE, the Foreign Institutional Investors (FIIs) were net buyers of Rs 299.71 crore in index futures and options segments, as per Tuesday’s data, June 3, 2014. FIIs were sellers of index futures to the tune of Rs 132.47 crore and they bought index options worth Rs 432.18 crore. In the stock segment, FII’s were net buyers of stock futures worth Rs 543.58 crore, while they sold stock options worth Rs 4.08 crore.

Muthoot Finance plans to install 1,000 ATMs this year

Muthoot Finance has launched 37th ATM at its Lingarajpuram branch in Bangalore. Moreover, the company which has bagged white label ATM licence from the RBI is planning to install 1,000 ATMs this year.

Further, the company is planning to install 100 ATMs each in Karnataka and Tamil Nadu by the end of this financial year.

Muthoot Finance is the largest gold financing company in India in terms of loan portfolio. The company is a Systemically Important Non-deposit taking NBFC headquartered in the southern Indian state of Kerala and with its corporate office in New Delhi.

Siemens’ arm to operate in the business of metallurgical industry

Siemens’ arm - Siemens AG, Germany has entered into an agreement with Mitsubishi-Hitachi Metals Machinery, Inc., and Mitsubishi Heavy Industries for setting up a joint venture (JV) to operate in the business of metallurgical industry as a complete provider of plant, products and services for the iron, steel and aluminium industry. Pursuant to this, the board of directors at its meeting held on June 03, 2014, has agreed in principle to transfer the Metals Technologies business of the company to a designated entity subject to such terms and conditions as may be decided later on. Siemens is the flagship listed company of Siemens AG in India and is a major player in the electronics and electrical engineering business. Germany’s Siemens AG holds a 75 per cent stake in the company.

RIL’s arm inks tower sharing agreement with Ascend Telecom Infrastructure

Reliance Industries’ telecom arm - Reliance Jio Infocomm (RJIL) has signed a tower sharing agreement with Ascend Telecom Infrastructure. Under the agreement, RJIL will utilize the pan-India tower infrastructure of Ascend to launch its 4G services, ensuring a faster and more efficient rollout to its customers.  Ascend is one of the leading innovators in the wireless infrastructure space, and has a portfolio of more than 4,500 towers across India. The company has successfully deployed innovative and efficient solutions with reduce provider’ operating costs and carbon footprints. It is at the forefront of leveraging technology to manage infrastructure efficiently. Ascend is backed by New Silk Route Growth Capital, IL&FS and the TVS Group.

RIL gains as arm inks tower sharing agreement with Ascend Telecom Infrastructure

Reliance Industries is currently trading at Rs. 1096.40, up by 1.65 points or 0.15% from its previous closing of Rs. 1094.75 on the BSE. The scrip opened at Rs. 1096.00 and has touched a high and low of Rs. 1099.00 and Rs. 1087.00 respectively. So far 19,000 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1142.50 on 16-May-2014 and a 52 week low of Rs. 765.00 on 28-Aug-2013. Last one week high and low of the scrip stood at Rs. 1101.90 and Rs. 1062.00 respectively. The current market cap of the company is Rs. 3,55,257.00 crore. The promoters holding in the company stood at 45.30% while Institutions and Non-Institutions held 29.86% and 21.41% respectively. Reliance Industries’ telecom arm - Reliance Jio Infocomm (RJIL) has signed a tower sharing agreement with Ascend Telecom Infrastructure. Under the agreement, RJIL will utilize the pan-India tower infrastructure of Ascend to launch its 4G services, ensuring a faster and more efficient rollout to its customers. Ascend is one of the leading innovators in the wireless infrastructure space, and has a portfolio of more than 4,500 towers across India. The company has successfully deployed innovative and efficient solutions with reduce provider’ operating costs and carbon footprints. It is at the forefront of leveraging technology to manage infrastructure efficiently. Ascend is backed by New Silk Route Growth Capital, IL&FS and the TVS Group.