JSW Infrastructure has recently received a Letter of Intent from the Maharashtra Maritime Board for the development of an all-weather, multipurpose port in Palghar, Maharashtra. This project will be executed under a public-private partnership (PPP) model, specifically utilizing a design, build, own, operate, and transfer (DBOOT) framework. This venture is expected to enhance the region’s logistical capabilities and boost economic growth.
In the pharmaceutical sector, Lyka Labs has obtained approval from the Central Drugs Standard Control Organization (CDSCO) to manufacture and market Pregabalin Gel 8% w/w in India. This gel is intended for treating diabetic neuropathic pain and follows successful completion of Phase III clinical trials. The approval represents a significant advancement in Lyka Labs’ product offerings, as it aims to provide an effective topical alternative to oral medications, which often come with side effects.
Zydus Lifesciences has formalized a Memorandum of Agreement (MoA) with the Indian Council of Medical Research (ICMR) to initiate Phase 2 clinical trials for Desidustat, targeting patients with sickle cell disease. This collaboration underscores Zydus’ commitment to advancing treatment options for complex health conditions.
In renewable energy, CESC announced that its subsidiary, Purvah Green Power, signed a Share Purchase Agreement to acquire 100% of Deshraj Solar Energy’s share capital. This acquisition will position CESC to expand its footprint in the renewable energy sector.
Authum Investment and Infrastructure has entered into a purchase cum shareholders agreement with India SME Asset Reconstruction Company (ISARC) to acquire a 79.28% stake in ISARC. The deal involves purchasing 13 crore equity shares for ₹176.8 crore and an additional 5.235 crore shares for ₹85.3 crore.
On the finance front, Can Fin Homes is set to convene on October 22 to review its Q2 FY25 results and consider raising up to ₹4,000 crore through non-convertible redeemable debentures.
In corporate governance news, CG Power and Industrial Solutions appointed Deven Jani as Vice President of Strategic Sourcing effective October 14.
Lastly, Chalet Hotels faces a significant financial adjustment due to changes in tax regulations that will impact its deferred tax assets and liabilities.
These developments highlight ongoing activity across various sectors, including infrastructure, pharmaceuticals, renewable energy, and finance, signaling both growth opportunities and challenges within the Indian market landscape.
