BASF India announced that CRISIL has decided to place the rating assigned “CRISIL AAA” (CRISIL Triple A rating) to the Non-Convertible Debentures of the Company under “Rating Watch with Negative Implications”. The rating watch reflects an emerging situation, which may affect the credit profile of the Company.

The ratings on the Fixed Deposits and Commercial Paper have been reaffirmed at ‘FAAA/Stable' and ‘CRISIL A1+', respectively.

Cipla has received final approval for its Abbreviated New Drug Application (ANDA) for Albuterol Sulfate Inhalation Aerosol 90mcg (base)/actuation, from the United States Food and Drug Administration (US FDA).

Cipla's Albuterol Sulfate Inhalation Aerosol 90mcg (base)/actuation, is the first AB-rated generic therapeutic equivalent version of Merck Sharp & Dohme Corp's Proventil® HFA Inhalation Aerosol. It is used for treatment of acute episodes of bronchospasm or prevention of asthmatic symptoms.

According to IQVIA (IMS Health): Proventil® HFA Inhalation Aerosol and its authorized generic equivalent had US sales of approximately $153M for the 12-month period ending February 2020. The entire Albuterol Sulfate HFA Inhalation Aerosol market had US sales of approximately $2.8 Billion for the 12-month period ending February 2020.

Hindalco Industries announced that its subsidiary, Novelis Inc. has received the final clearance needed to complete its acquisition of Aleris Corporation, a global supplier of rolled aluminum products.

Previously, the European Commission determined that the acquisition could proceed on the condition that Novelis divest Aleris' plant in Duffel, Belgium to a third party approved by the Commission. Novelis satisfied that condition when the European Commission determined that the proposed purchaser, Liberty House Group, is a suitable buyer of the Duffel facility. Liberty House Group, which is a part of the Gupta Family Group, intends to acquire the Duffel facility under its newly formed aluminum vertical called ALVANCE. The purchase price for the Duffel facility is €310 million.

With the European Commission's approval of the buyer, Novelis has now received all regulatory clearances and will move expeditiously to close the acquisition of Aleris

The Power Transmission & Distribution Business of L&T Construction has bagged orders in India and abroad.

In Kuwait, a prestigious order has been awarded to upgrade substations and related power facilities in KNPC's Mina Al Ahmadi oil refinery. The revamped network of distribution substations with latest technology will enhance reliability of power supply and facilitate expansion.

The business has won a 400 kV Grid Station order in Oman which will be a crucial element in the Sultanate's major transmission initiative to interconnect the grids in the south and north with the PDO Area.

In Egypt, an order to Design, Supply, Construct Et Commission a 220 kV Gas Insulated Substation has been bagged from a reputed client.

The renewable arm of the business has won large EPC orders on the domestic and international fronts to establish Solar Photovoltaic plants totaling more than 500 MW. These grids connected to power plants also entail related power evacuation and interconnection systems.

An order has been won to strengthen the urban HT distribution network in Chennai with addition of Ring Main Units and Feeder Remote Terminal Units on a total turnkey basis. Also, fully automated, unmanned 33 kV Gas Insulated Substations will be established at select locations.

Another order has been secured to supply and install Medium Voltage capacitor banks with related accessories under different discoms in Uttar Pradesh.

Additional orders have been received in ongoing substation, transmission line and renewable projects.

Mahindra & Mahindra announced that CRISIL has reaffirmed ratings as under -

Total Bank Loan Facilities Rated Rs 1100 Crore
Long Term Rating - CRISIL AAA/Stable (Reaffirmed)
Short Term Rating - CRISIL A1+ (Reaffirmed)

Rs 475 Crore Non Convertible Debentures - CRISIL AAA/Stable (Reaffirmed)
Rs 500 Crore Non Convertible Debentures - CRISIL AAA/Stable (Reaffirmed)
Rs 1000 Crore Commercial Paper (Enhanced from Rs. 500 Crore) - CRISIL A1+ (Reaffirmed)

Piramal Enterprises announced the resignation of Arundhati Bhattacharya from the post of Independent Director of the company with effect from 16 April 2020.

Tata Power has been conferred with the honourable Global, “Edison Award” for its “Club Enerji #Switchoff2SwitchOn” campaign under Social innovation category and Social Energy Solutions subcategory.

Dr Reddys Laboratories has received the Establishment Inspection Report (EIR) from US FDA, for API manufacturing plant 5 at Miryalaguda, Nalgonda district, Telangana, indicating closure of the audit and the inspection classification of this facility is determined as “Voluntary Action Indicated” (VAI).

Hathway Bhawani Cabletel & Datacom will hold a meeting of the Board of Directors of the Company on 17 April 2020.

The Defence Research and Development Organisation (DRDO) and the Indian Telephone Industries (ITI) are likely to ink a deal soon to produce portable ventilators, a first of its kind in India, following the Coronavirus or Covid-19 outbreak.

The state-controlled telecom technology company is signing the Memorandum of Understanding (MoU) with DRDO this week.