Sagar Cements said total consolidated cement sales rose 24.03% to 247,051 MTs in August 2018 over August 2017. The announcement was made after trading hours yesterday, 5 September 2018.
Aurobindo Pharma announced the signing of a definitive agreement to acquire certain assets from Sandoz Inc., USA (Sandoz), a Novartis division, comprising a market leading dermatology business and a portfolio of oral solid products along with commercial and manufacturing infrastructure in the US. The acquisition will be on debt free and cash free basis and will be made through its wholly owned subsidiary, Aurobindo Pharma USA Inc. Aurobindo and Sandoz will enter into a transitional services agreement to support the ongoing growth plans of the businesses being acquired by Aurobindo. The transaction will be an all cash transaction which Aurobindo will finance through a fully committed debt facility. This US acquisition is in line with Aurobindo's strategy to strengthen and grow its global business and to expand and enhance its product portfolio offerings in key therapeutic areas. The announcement was made before trading hours today, 6 September 2018.
PSP Projects said it has received work orders worth Rs 226.07 crore (on standalone basis) from various clients for industrial and institutional projects since the last intimation of receipt of work orders by the company dated 26 July 2018. The total work orders received during the financial year 2018-2019 (till date) on standalone basis amounts to Rs 419.97 crore. The announcement was made after trading hours yesterday, 5 September 2018.
Nandan Denim announced that the application made by company for sanction of various incentives (interest, power, VAT / GST) under Gujarat State Textile Policy, 2012 has been approved. The company expects to save Rs 65 crore on account of interest and power subsidy over a period of five years starting from December 2016. Further, the company is entitled for GST / VAT refund of upto Rs 340 crore for a period of eight years starting from December 2016. The announcement was made after trading hours yesterday, 5 September 2018.
Bharti Infratel announced that subsequent to completion of Vodafone-Idea merger and their scheme becoming effective from 31 August 2018, Bharti Infratel ('the company') and Indus Towers where the company holds 42% equity, have received exit notices, which would result in exit of 27,447 co-locations for the company on a consolidated basis. The aforesaid co-locations contribute to 13.7% of the total co-locations on a consolidated basis as on 30 June 2018. This is likely to result in a net reduction of consolidated service revenue of approximately Rs 60-65 crore per month effective from 1 September 2018. The company expects that this will be mitigated by exit charges and incremental revenues on account of anticipated new network rollouts by the operators going forward. The announcement was made after trading hours yesterday, 5 September 2018.
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