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Lupin bets big on inhalation segment, plans to enter Chinese market

The $2 billion pharma giant, Lupin, has been slowly building a strong portfolio of inhalation products to tap the complex generics respiratory products market globally. The firm is looking for manufacturing partners to enter the Chinese market with a handful of respiratory products that it has either commercialised in other regulated markets or is in the pipeline. Vinita Gupta, chief executive officer (CEO), Lupin, said it has been working on building a complex generics respiratory portfolio with focus on inhalation products for the last five-six years. The firm has been utilising around 10 per cent of its research and development (R&D) spend on inhalation products.

No room to cut excise duty on petrol and diesel, says FM Sitharaman

Finance Minister Nirmala Sitharaman on Monday said the Centre had little room to cut excise duty on petrol and diesel because of the cost burden of the oil bonds issued by the previous United Progressive Alliance (UPA) government. “We don’t do so many tricks like the UPA government. They issued oil bonds for which the principal amount is over Rs 1 trillion, and for the last seven fiscals, the government has been paying over Rs 9,000 crore interest annually,” Sitharaman said in a select media briefing. “This government is paying for the oil price reduction of 2012-2013. If I did not have this burden, I would have also been able to reduce fuel prices,” she added.

Ruchi Soya gets Sebi's approval for Rs 4,300 crore FPO, say reports

Ruchi Soya on Monday got market regulator Securities and Exchange Board of India’s (Sebi) approval for its Rs 4,300 crore follow on public offer (FPO), according to reports. The company had filed its draft documents with the markets regulator in June this year for an FPO. According to its draft documents, the issue’s net proceeds will be utilised to repay its borrowings and fund incremental working capital requirements. The company also wants to meet Sebi's minimum public shareholder norms. According to the regulator’s norms, a listed entity should have at least 25 per cent minimum public shareholding.

Ajmera Realty expects Rs 4,000 cr revenue in 3-4 years from 7 projects

The city-based developer Ajmera Realty is expecting around Rs 4,000 crore in topline from the upcoming seven projects which need an investment of around Rs 2,500 crore, a top company official has said. The company, which had a revenue of Rs 330 crore in the pandemic-hit FY21, is expecting to close FY22 with Rs 500 crore and has started off the fiscal on a robust note with the June quarter sales touching Rs 134 crore. It earned a profit of Rs 10.26 crore in Q1, up from Rs 2.10 crore in June 2020. The proposed seven projects are coming up in Mumbai (four, one of which is a relaunch in the Mulund area), Pune (two) and one in Bengaluru and will have a saleable area of around 2 million sqft when fully developed.

Adani Group to acquire MBCPNL portfolio from Sadbhav Infra for Rs 1,680 cr

Adani Road Transport (ARTL), a wholly-owned subsidiary of Adani Enterprises (AEL), on Monday announced it would be acquiring Maharashtra Border Check Post Network (MBCPNL), a subsidiary of Sadbhav Infrastructure Project, at an enterprise value of Rs 1,680 crore. The deal is subject to customary regulatory and lender approvals and is expected to close in the third quarter of 2021-22. ARTL, which develops, constructs, operates, and manages roads and highway projects in India, will acquire 49 per cent stake in MBCPNL, with the option to acquire additional stake, the company said in its release.

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