Trackpad
Cadila exits from Windlas Healthcare
Cadila announced that the board of directors of the company at a meeting held have signed an agreement for the sale of the shares that the company holds of Windlas Healthcare Private Limited (WHPL). As per the agreement, Cadila will sell 2,31,33,717 equity shares of Rs 10 each fully paid-up of Windlas Healthcare Private Limited (WHPL) to Windlas Biotech Private Limited (WBPL). These shares represent Cadila’s entitlement to a total of 49 per cent of the total paid-up share of capital of WHPL. Post the completion of the divestment & transaction, Cadila will cease to hold any equity shares in WHPL. The transaction is expected to be completed within 10 business days and a consideration of more than Rs 99 crore is calculated to be received by Cadila.
Zydus Cadila is an innovative, global pharmaceutical company engaged in the discovery, development, manufacturing and marketing of a broad range of healthcare therapies. The group employs nearly 25,000 people worldwide and is dedicated in creating healthier communities globally. Zydus aspires to be a researchbased pharmaceutical company by 2020. The group currently has 285 approvals and has so far, filed over 386 ANDAs since the commencement of the filing process in FY 2003-2004.
CONCOR to surrender 15 terminals to Indian Railways
Container Corporation of India (CONCOR) has informed about the reorganisation of its number of terminals by surrendering certain terminals built on the land taken on lease from Indian Railways. This step has been taken due to commercial and business viability considerations. The company has surrendered its 15 terminals, generating a total turnover of Rs 277.50 crore and net worth of Rs 64.84 crore.
Container Corporation of India Limited is a company engaged in the transportation and handling of containers, which include both rail and road. The company is also engaged in the operation of logistics facilities, including dry ports, container freight stations and private freight terminals. Its divisions are EXIM and domestic that is engaged in handling, transportation and warehousing activities. Its international services include train services, road services and air cargo movements, refer services as well as block booking on a round trip basis. On the other hand, its domestic services include train services, volume discount scheme, door delivery and terminal handling charges.
Polycab India to acquire remaining 50 per cent stake in Ryker
Wire & cables manufacturer, Polycab India Limited, has signed an agreement with Trafigura Pte Ltd (Singapore) for acquiring the remaining 50 per cent stake in Ryker Base Pvt Ltd. The board of PIL approved the acquisition in its meeting held.
As a consequence of this agreement, the existing joint venture between the two stands terminated. Nevertheless, Polycab India Ltd (PIL) had entered into a joint venture (50:50) with multinational commodity trading company-Trafigura to incorporate Ryker in 2016. The incorporation was done with an aim to strengthen backward integration of its operations as well as for improving quality of its key input-copper.
Polycab India decided to acquire the remaining 2,60,10,000 (i.e. balance 50 per cent equity shares) of face value of Rs 10 each from Trafigura, after the latter made a global strategic decision to exit from the value-added manufacturing business in India, where it was a joint-venture partner. Post this agreement, Ryker Base would become a wholly-owned subsidiary of PIL. The purchase consideration of the same is likely to be around US $ 4 million (Rs 30 crore).
Glenmark receives DCGI nod to conduct COVID-19 clinical trials
Glenmark Pharmaceuticals, a research-led integrated global pharmaceutical company, has received an approval from Drug Controller General of India (DCGI) to conduct clinical trials on Favipiravir Antiviral tablets on COVID-19 patients. The product is a generic version of Avigan of Fujifilm Toyama Chemical Limited (Japan), a subsidiary of Fujifilm Corporation.
Favipiravir has demonstrated activity against influenza viruses and has been approved in Japan for the treatment of novel influenza virus infections. Recently in the past few months, post the outbreak of COVID-19, multiple clinical trials have been initiated on COVID-19 patients in China, Japan and in US. Speaking on the announcement, Sushrut Kulkarni, Executive Vice President and Global R&D of Glenmark Pharmaceuticals said that after having successfully developed the API and the formulations through its in-house R&D team, Glenmark was all geared to immediately begin clinical trials on Favipiravir on COVID-19 patients in India, which could become a potential treatment for COVID-19 patients if the initial trials are successful.
Glenmark Pharmaceuticals Ltd (GPL) is a global research-led pharmaceutical company with a presence across generics, speciality and OTC business with operations in over 50 countries. Glenmark’s key therapy focus areas globally are respiratory, dermatology and oncology. It ranked among the top 80 pharma & biotech companies of the world in terms of revenue.
After Facebook, Silver Lake to invest in Reliance Jio
Recently, the news about Facebook’s investment in Reliance Jio was wellreceived by the general public. Following it, Reliance Industries has now announced about rights issue as well of Silver Lake’s investment in Jio. Reliance Industries announced that for the first time, the company will be undertaking rights issue as its board of directors and management has approved the issuance of equity shares of Rs 10 each of the company on rights basis to eligible equity shareholders of the company as on the record date, which will be notified later, of an issue size of Rs 53,125 crore. The rights issue price is set at Rs 1,257 per fully paid-up equity share, which also includes a premium of Rs 1,247 per equity share. As for the terms of payment of issue price – 25 per cent on application and balance in one or more calls as may be decided ahead. The right entitlement will be of one equity share for every 15 equity shares held by eligible shareholders as on the record date.
Additionally, as Jio Platforms receive interest from global investors, RIL announced that Silver Lake will be investing Rs 5,655.75 crore into Jio Platforms. Silver Lake is considered as a global leader in large-scale technology investing aiming to build and grow great companies by partnering with world-class management teams. RIL announced its Q4FY20 results, where the company’s revenue for the quarter declined by 2.5 per cent to Rs 1,51,209 crore on a consolidated basis. EBITDA expanded by 7.6 per cent to Rs 25,886 crore in Q4FY20 from Rs 24,047 crore in Q4FY19. For Q4FY20, the company gained a net profit of Rs 6,546 crore, which is 37.2 per cent lower than that of Rs 10,427 crore gained in Q4FY19.
TCS launches AI-powered solution-TCS WaferWise
Tata Consultancy Services (TCS), a leading global IT services, consulting and business solutions organisation, announced the launch of TCS WaferWise, a cloud-based wafer anomaly detection solution to help chip makers digitally reimagine their product quality assurance process. The solution harnesses the company’s contextual knowledge of the semiconductor industry and the power of deep learning technology.
Sophisticated quality inspection of wafers during the semiconductor manufacturing process is quite essential to detect and classify defects early and accurately. It also helps improve quality. Several companies still run manual inspections that rely heavily on human expertise and judgement. This makes the process prone to errors and limits manufacturing throughput. TCS WaferWise is a cloud-based solution that leverages custom AI models to automatically detect and classify anomalies by analysing nano-scale images generated during the semiconductor manufacturing process. The solution runs on Google cloud and utilises TCS’ continuous learning platform to effectively sample different datasets across multiple manufacturing lines and automatically trigger learning when required, steadily enhancing the accuracy of AI model.