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Merger of Jindal Stainless (Hisar) Limited into Jindal Stainless Limited

The Board of Directors of Jindal Stainless Limited (JSL) and Jindal Stainless (Hisar) Limited (JSHL) accepted the recommendations of the respective Board Committees and approved the merger of JSHL into JSL. As per the approved share swap ratio, 195 equity shares of JSL will be issued for every 100 equity shares of JSHL. Managing Director, JSL and JSHL, Abhyuday Jindal said, “Seamless integration of infrastructure, processes and operational synergies, along with a strengthened balance sheet, would improve financial flexibility. The merger of JSL and JSHL will also induce a simplified capital structure, expanding the turnover of the merged business to `20,000 crore. With 1.9 MTPA melt capacity, the merged entity will be the only Indian Company in the league of top 10 stainless steel companies in the world.”

India EXIM Bank raises US$ 1 billion for 10 year tenor at record low rate of 2.25% p.a. 

India Exim Bank opened the year on January 4, 2021, successfully launching a US$1 billion 10-year Bond. The coupon of 2.25% is a record low for any 10-year bond issuance out of India. The funds thus raised will be used by the Bank to support Indian project exports, overseas investment by way of long-term credit and its export lines of credit portfolio. Speaking on the occasion, Mr. David Rasquinha, Managing Director of India Exim Bank, said, “With the upsurge in GST numbers, improvement in GDP, and the recent approval of vaccines, the confidence in the India story is surging once again. With a strong market opening trade from India Exim Bank, many other Indian issuers are likely to follow suit to access the foreign currency bond market.”

Kenyan patient visits BM Birla for MVR surgery

A retired researcher in Kenya in her late 50s, Loise had a leaky mitral valve which was causing her breathless and tiredness. Her family, after some research decided on BM Birla Heart Research Centre for her further treatments in India. Here Loise consulted Interventional Cardiologist Dr. Anjan Siotia. He refereed the patient to Cardiac surgeon Dr. Manoj Daga who decided for a surgery. She went through a Mitral valve replacement (MVR) surgery which was quite a complex and a difficult one. “The blood report is awaited, post the final check-up she will be able to fly back to Kenya” said Dr. Manoj Kumar Daga, Cardiac surgeon of BM Birla Heart Research Centre.

SastaSundar.com Introduces Dry Fruit Mix Combo Packs

SastaSundar.com, a leading online pharmacy and digital platform of healthcare, has introduced brand new Dry Fruit Combo Packs in its ambit. The two combo packs launched are Dry Fruits for Cake Mix and Winter Snack Time - Dry Fruits Combo. Dr. Amitava Sarkar, President – Health Foods, SastaSundar.com. commented, “The two variants of the dry fruit combos are not only flavoursome; they also balance the health and taste quotients just right. So, snack your way to better health this winter, and also don’t forget to don the chef’s hat on and bake cakes.” 

Glenmark Pharmaceuticals and Menarini enter into Exclusive Licensing Agreement for commercialising Ryaltris™ Nasal Spray

Glenmark Pharmaceuticals Ltd. announced that its Swiss subsidiary, Glenmark Specialty S.A., has entered into an exclusive licensing agreement with Menarini Group (Menarini) for commercialising its innovative nasal spray Ryaltris™ across 33 countries in Europe. Ryaltris™ indicated for treatment of symptoms associated with seasonal allergic rhinitis (SAR) in patients. Achin Gupta, Executive Vice President, Business Head EMEA-L (Europe, Middle East, Africa, Latam) Glenmark Pharmaceuticals said, “While Glenmark will launch Ryaltris™ through its own front ends in some markets, this arrangement will allow the product to compete across Europe.” Pio Mei, General Manager Menarini Group commented, “Ryaltris™ is a perfect addition to our European respiratory and allergy portfolio and we can count on our established experience in the relevant therapeutic area.”

Prices of ISUZU D-MAX Regular Cab and S-CAB Commercial Pick-up range set to increase

Isuzu Motors India Private Limited sells the popular ISUZU D-MAX V-Cross – India’s First Lifestyle and Adventure Pick-up and the ISUZU mu-X, premium 7-seater SUV in the personal vehicle segment and variants of ISUZU D-MAX pick-ups – S-CAB and Regular Cab, for the commercial segment. The company has increased the prices of its commercial pick-up range - D-MAX Regular Cab and D-MAX S-CAB with effect from January 1, 2021. The increase was approximately `10,000 from the current ex-showroom price. The increase in price has been done due to the increasing input and distribution costs.