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Shares of Aarti Drugs were up 6 per cent at Rs 708 on the BSE in intra-day trade on Tuesday after the pharmaceutical company said its board will consider share buyback on Friday, March 19. “A meeting of the board of directors of the company is scheduled to be held on Friday, March 19, 2021, to consider inter alia, proposal of buyback of the fully paid-up equity shares of the Company including matters related/incidental thereto,” Aarti Drug said in an exchange filing. The buyback is a corporate action in which a company buys back its shares from the existing shareholders usually at a price higher than the market price. When it buys back, the number of shares outstanding in the market reduces. ....
Aarti Speciality Chemicals, a wholly-owned subsidiary of Aarti Drugs has received an approval accorded under Production Linked Incentive (PLI) scheme for pharmaceutical sector. Government of India s Department of Pharmaceuticals under the Ministry of Chemicals and Fertilizers recently launched a Production Linked Incentive (PLI) scheme to promote domestic manufacturing by incentivising pharmaceutical manufacturers to set-up greenfield projects in India with a minimum domestic value addition in four different target segments (Two in Fermentation based - at least 90% and Two in the Chemical Synthesis based - at least 70%) with a total outlay of Rs 6,940 crore. The objective of the scheme is achieving self-reliance and reducing import dependence in these critical Key Starting Materials (KSMs)/ Drug Intermediates/ Active Pharmaceutical Ingredients (APIs) in the country. The tenure of the scheme is from FY21 to FY30. ....
Read more about Nifty regains 15,000; breadth strong on Business Standard. Key benchmark indices are trading firm in early trade on buying demand in index pivotals. At 9:25 IST, the barometer index, the S&P BSE Sensex, was up 330.86 points or 0.66% at 50,736.18. The Nifty 50 index was up 112.65 points or 0.75% at ....
Maruti Suzuki India said the company produced total 1,68,180 vehicles in February 2021 as against 1,40,933 vehicles in February 2020. The board of directors of Adani Ports and Special Economic Zone (APSEZ) approved to issue up to 1 crore equity shares to Windy Lakeside Investment (Windy) at a price of Rs 800 per equity share, for an aggregate consideration of up to Rs 800 crore. Cipla (UK), a wholly owned subsidiary of Cipla (EU) and a wholly owned step down subsidiary of Cipla, has been voluntarily liquidated with effect from 5th March, 2021. This liquidation was a part of internal reorganisation and it will not affect performance or revenue of the company. ....
Read more about Sensex ends almost flat, Nifty ends below 15,000; PSU banks, metal stocks advance on Business Standard. Domestic equity market started on a strong note, but gave up all gains during the latter half of the day. PSU banks, metals and pharma stocks advanced while autos, financials and FMCG shares declined. The barometer index, the S&P BSE Sensex, rose ....