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TOP CORPORATE NEWS- 14 JUNE 2019

corporate news (2)

Hexaware acquires 100% shares of Mobiquity Softech
Hexaware, in its filing to the exchanges on Friday, informed that the company has acquired 100% stakes of Mobiquity Softech Private Limited, a wholly owned subsidiary of Mobiquity Inc for a total consideration of ~ $182mn.This acquisition would help gain traction in banking and Pharma verticals, which are the focus areas for Hexaware. It also brings in valued partnerships particularly with A WS and Backbase, the company said in a press note.

Thyrocare to separate arm Nuclear Healthcare
Thyrocare Technologies in its filing to the exchanges informed that its board has decided to separate arm Nuclear Healthcare after valuation report obtained from a merchant banker.On May 18, the auditors had pointed the impairment of the aforesaid arm. The company Chairman and Managing Director Dr. A. Velumani offered to buy the entire shareholding of the at a current investment value of Rs194.67cr to ensure that no loss is done to public shareholders, the company said in a press note released after markets hours to the exchanges on Thursday.

USFDA completes inspection at Wockhardt’s Bioequivalence centre in Aurangabad
Wockhardt said it has received zero observations from the US health regulator (USFDA) after inspection of its Bioequivalence centre at Aurangabad in Maharashtra. The announcement was made on Thursday after market hours.The United States Food and Drug Administration carried out an inspection of the Bioequivalence centre located at the R&D centre, Aurangabad from June 10 to June 12, 2019, the pharma company said the filing.During the inspection, bioanalytical and quality systems of Bioequivalence studies of Tamsulosin 0.4 mg capsules and Metoprolol ER tablets were audited.

RBI to inject durable liquidity through OMO purchase auction
The Reserve Bank of India said on Thursday that it will infuse Rs12,500cr into the financial system through bond purchases on June 20.Based on a review of the evolving liquidity conditions and assessment of the durable liquidity needs going forward, RBI has decided to conduct the purchase of Government securities under Open Market Operation (OMO) for Rs12500cr on June 20, 2019, the RBI said in the press note.The Government securities to be purchased in the auction would be communicated in due course, the central bank said.

Tata Sponge board approves date for right issues
Tata Sponge, in its filing to the exchanges informed that its board has granted approval of the issuance of equity shares by way of rights issue to the existing shareholders of the company as on the record date for an amount not exceeding Rs1, 800 cr and fixed record date for rights issue at June 25.The company board has given approval for issuance of 3.3cr equity shares of the face value of Rs10 each, on a rights basis, not exceeding an amount of Rs1,650cr by the company to the eligible equity shareholders, the company said in a press note to the exchanges.

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