Essar Shipping Board of Directors of the Company by a unanimous circular-resolution nodded to the foreclosure of Bare Boat Charter cum Demise (BBCD) Agreement for the vessels MV Maithli and MV Maanika based on economic viability after obtaining the requisite regulatory approval. Essar Shipping is an Indian shipping corporation for the global energy business.

Hero Electric plans to invest at least Rs 700 crore to raise annual production capacity to more than 1 million units over the next four years. These new capacities will come up at two or three locations, including one which will be closer to a port for easier exports. This mega expansion includes raising capacity at Hero Electric’s only plant at Ludhiana, Punjab.

Tata Motors, on Friday, announced a host of incentives to push sales of its passenger vehicles in collaboration with IndusInd Bank. As part of the agreement with IndusInd Bank, Tata Motors will provide the ‘Step Up’ scheme where the customers can choose and buy from the safest range of passenger cars in the country, with a special low EMI options scheme for the first 3-6 months.

Bharat Heavy Electricals Limited (BHEL) secured a major order for the supply of 12 Steam Generators from Nuclear Power Corporation of India Limited (NPCIL). Valued at Rs1,405 crore, the order has been won under NPCIL’s Fleet Mode procurement programme and mandates supply of 12 Steam Generators for India’s highest-rated indigenously-developed 700 MWe Pressurized Heavy Water Reactors (PHWR).

Union Bank of India commenced accepting bids to generate up to Rs1,150cr by issuing Basel III-compliant bonds. The lender is issuing Basel Ill Compliant Debt instruments in the nature of Debentures eligible for inclusion in Tier-2 Capital (Bonds) Series XXXl, at a face value Rs1cr per bond, of Rs500cr with Green Shoe Option up to Rs650cr (maximum Rs1,150cr) on Private Placement basis.

After the successful Thyrocare deal, Pharmeasy is considering an investment from the Japanese conglomerate SoftBank. API Holdings, Pharmeasy's parent company, and SoftBank have begun discussions for potential investment. The IPO-bound company is eyeing a valuation of at least $5.6 billion in the new funding round, and has also contacted other investors for financing.

Powerplay secured $5.2 Mn in funding led by Accel Partners and Surge, a rapid scale-up program by Sequoia Capital India for startups. India Quotient and Snapdeal founders also participated in the round. Powerplay is a part of Surge’s fifth cohort of 23 companies. It is a free mobile app that connects multiple stakeholders involved in construction, enabling them to communicate and collaborate.

Indian Railway Catering & Tourism Corporation announced that the services of Ahmadabad Mumbai Tejas Express will be restored from August 07, 2021. The train will run four days in the week viz, Friday, Saturday, Sunday, and Monday. Due to the rising of corona cases in Maharashtra and Gujarat, services of Ahmedabad Mumbai-Ahmedabad Tejas Express were suspended from April 2, 2021 onwards.

Ashoka Buildcon Limited secured a Letter of Award (LOA) from IRCON International Limited in respect of the Project, Viz. "Provision of supply, Erection, Testing & Commissioning of Electro-Mechanical (E&M) System on Dharam-Katra Section of USBRL Project (J&K). The accepted contract value of the project is Rs482.34cr. Ashoka Buildcon is a leading engineering and construction company in India.

Rakesh Jhunjhunwala increased his stake in Edelweiss Financial Services. According to the regulatory filing by the company on BSE, theace investor held 1,51,25,000 equity shares or 1.61 per cent stake in the company, as of June 30, 2021, in comparison to 1,11,25,000 equity shares or 1.19 per cent stake in the quarter ended March 2021. His stake in the company is worth over Rs 125 crore.

Ola, on July 9, announced that it had garnered $500 million led by private equity giants Temasek and Warburg Pincus, leading up to its public offering. Ola did not disclose its valuation, which could be lower than earlier because it has been battered by the COVID-19 pandemic. The ride-hailing company did not even disclose by when it plans to go public.

Hetero opined on July 9 that the interim data of its Phase-3 study of mild COVID-19 patients who had gotten COVID-19 antiviral drug Molnupiravir along with the standard of care (SOC) recovered much faster than those who received only standard of care. Hetero had conducted this Phase-III, comparative, randomized, multicenter clinical trial on 1218 mild COVID-19 patients.

The Clean Science and Technology IPO is oversubscribed by 12.91 times on July 9, the final day of bidding, supported by strong buying interest from investors. The offer has received bids for 15.88 crore equity shares against the IPO size of 1.23 crore equity shares. The qualified institutional buyers have put in bids 8.31 times their reserved portion and non-institutional investors 32.94 times.

Union government enhanced the central grant to Karnataka under the Jal Jeevan Mission in the year 2021-22 to Rs5,008.79cr, which was Rs1,189.40cr in 2020-21. Union Minister, Jal Shakti, Gajendra Singh Shekhawat while approving this four-fold increase in the fund allocation promised full assistance to the State for making provision of tap water supply in every rural home in Karnataka by 2023.

Alembic Pharmaceuticals, on Friday, confirmed the securing of the final approval from the USFDA for Erlotinib tablets prescribed in cancer treatment. The approved product is therapeutically equivalent to the reference listed drug product Tarceva tablets of OSI Pharmaceuticals, LLC. Erlotinib Tablets are indicated for the treatment of patients with metastatic non-small cell lung cancer (NSCLC).