Kotak Mahindra Bank is selling a 4.5% stake to Japan's Sumitomo Mitsui Financial Group for Rs 1366 crore. The Indian lender said it will make a preferential issue 16.4 million shares at Rs 833 each to SMFG's Sumitomo Mitsui Banking Corp.
Dr. Reddy's Laboratories has launched a copycat version of Anglo-Swedish drugmaker AstraZeneca's breast cancer drug Arimidex in the United States. Arimidex had US sales of $927 million in the year ended April 2010.
The Mukesh Ambani group, which controls Reliance Industries, is reportedly close to signing an equal joint venture (JV) agreement with global private equity and hedge fund company, DE Shaw, to enter the financial services sector.
Reliance Communications is reportedly likely to acquire privately-held cable television company, Digicable, in a cashless deal.
Tata Teleservices (Maharashtra) (TTML), which has won 3G spectrum licenses in nine circles, has reportedly written to the government asking it to delay the allocations until the issue on usage of Chinese equipment is cleared.
State-owned fertiliser maker Rashtriya Chemicals and Fertilizers reportedly plans to convert a portion of 277 acres of prime land in Mumbai it uses to house employees into commercial development of residential properties.
Swiss drugmaker AstraZeneca has reportedly sued Glenmark Pharmaceuticals in the US last week, alleging the infringement of its patent on cholesterol-lowering drug, Crestor.
Madhucon Infra, a unit of Madhucon Projects, is reportedly close to raising Rs 300 crore through non-convertible debentures to fund its road, power and coal mine projects.
Air conditioning units maker Subros has reportedly formed a joint venture (JV) with Japanese firm Denso Corp to design automobile air conditioning systems and other devices.
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