India achieves full economic recovery of pre-pandemic level in Q2: Finance Ministry
In its Monthly Economic Review report for November, the Ministry of Finance stated that India’s real GDP in Q2 FY22 has grown by 8.4% YoY, thereby recovering over 100% of the pre-pandemic output in the corresponding quarter of FY20. India is among the few countries that have recorded four consecutive quarters of growth amidst the Covid-19 pandemic, reflecting the resilience of our economy. Data also shows that the investment cycle has kickstarted in the country.
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Antony Waste’s subsidiary secures order from North Delhi Municipal Corp
AG Enviro Infra Projects Pvt Ltd, a wholly-owned subsidiary of Antony Waste Handling Cell Ltd, has received an order for door-to-door collection and transportation of municipal solid waste to disposal sites at Sadar Paharganj Zone of North Delhi Municipal Corporation (NDMC). The contract is for ten years, and the company is estimated to handle ~1,000 tonnes of municipal waste per day.
Endurance Tech commences commercial production at new plant in Waluj
Endurance Technologies Ltd has commenced commercial production at its new plant at E-7 1, MIDC Industrial Area, Waluj in Aurangabad, Maharashtra. The plant will manufacture braking systems for the company’s original equipment manufacturer (OEM) customers. Endurance Tech will gradually ramp up the volumes of its disc brake assembly and rotary discs up to 36 lakh units per annum.
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Vedanta to pay Rs 13.5 per share as interim dividend
Vedanta Ltd will reward shareholders with a dividend payout for the second time this year after reporting back-to-back bumper profits in the past year. The mining company has approved an interim dividend of Rs 13.50 a share, totalling Rs 5,019 crore. Earlier this week, Vedanta’s subsidiary Hindustan Zinc Ltd had approved an interim dividend of Rs 18 per share, amounting to a payout of Rs 7,605.57 crore.
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Dr. Reddy’s Labs receives USFDA approval for VeraRing
Dr. Reddy’s Laboratories Ltd has received approval from the US Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) 207577- VeraRing. The pharma company is evaluating further steps in relation to this product. VeraRing covers the category of intra-uterine contraceptive devices.
Four IPOs to hit the markets next week
Medplus Health Services, Data Patterns (India) Ltd, HP Adhesives, and Supriya Lifescience will launch their initial public offerings (IPOs) between December 13th and 16th. Medplus Health Services Ltd is India’s second-largest pharmacy retailer in terms of the number of stores and revenue. It has fixed a price band for its Rs 1,398.3 crore IPO at Rs 780-796 per share.
Data Patterns (India) Ltd is set to launch its Rs 588.22 crore-IPO on December 14 at a price band of Rs 555-585 per share. It is a defense and aerospace electronics solutions provider.
HP Adhesives Ltd, a manufacturer of adhesives and sealants, will launch its initial public offer on December 15. The company has fixed Rs 262-274 per share as the price band for its Rs 125.96 crore IPO.
Supriya Lifesciences Ltd will launch its maiden public offer for subscription on December 10. The company is engaged in the manufacturing of Active Pharmaceutical Ingredients (APIs).