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Piramal Pharma invests Rs 101.77 cr for minority stake in Yapan Bio

Piramal Pharma on Tuesday said it has invested Rs 101.77 crore in Hyderabad-based Yapan Bio to augment the capabilities of its contract development and manufacturing organisation (CDMO) business. The Mumbai-based company has acquired a 27.78 per cent stake in Yapan as a result of the investment. The investment will allow Piramal Pharma to strengthen Piramal Pharma Solutions (PPS), its CDMO business, by broadening its service offerings.

SBI picks up minority stake in Sajjan Jindal-led JSW Cement for Rs 100 cr

Sajjan Jindal-led JSW Cement said on Tuesday State Bank of India (SBI) has acquired a minority stake in the cement company by investing Rs 100 crore via compulsorily convertible preference shares (CCPS). The conversion of such CCPS into common equity of the company will be linked to the JSW Cement’s business performance and valuation at the time of the proposed initial public offering, said JSW in a press release

RBI empanells CSB Bank to undertake banking biz of central, state govts

Private sector lender CSB Bank on Tuesday said it has been empanelled as an 'agency bank' by the Reserve Bank of India (RBI) to undertake general banking business of central and state governments. This appointment will allow CSB Bank to undertake general banking business of the central and state governments which may be entrusted by the RBI, the bank said in a statement.

Indian Oil Corp acquires 5% stake in IEX subsidiary Indian Gas Exchange

State-owned Indian Oil Corporation (IOC) on Tuesday said it has acquired a nearly 5 per cent stake in Indian Gas Exchange Ltd - the country's first automated national level exchange for the trading of natural gas. IOC joins the likes of oil and gas explorer ONGC, gas utility GAIL Torrent Gas Pvt Ltd and Adani Total Gas Ltd which already have acquired 5 per cent equity each in IGX.

Myntra's flagship EORS festive sale witnesses 40% growth in new users

Walmart-owned online fashion retailer Myntra’s flagship EORS festive sale witnessed over 45 per cent growth in site traffic over the previous winter edition. It witnessed over 1.6 million fashion, beauty and lifestyle shoppers across the country. Over 7 lakh items were purchased within the first 3 hrs of the mega fashion carnival that went live in the wee hours of December 18. Myntra also witnessed a 40 per cent growth in new users shopping on the platform for the first time on the opening day of the 6-day event that will go on till 23 December.

Fire at IOC refinery in West Bengal's Haldia kills at least 3, injures over 40

At least three people were killed and 44 others suffered injuries after a fire broke out at the Indian Oil Corporation (IOCL) refinery in West Bengal’s Haldia on December 21. A senior police officer of Purba Medinipur district told PTI that out of the 44 injured, 37 were being referred to a hospital in Kolkata. The condition of seven of them is currently critical, the officer added. The IOC in a statement said the incident occurred at a unit of the refinery during shutdown related works

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