India Cements, Lupin likely to see some action today

Cement maker, India Cements is looking to develop two thermal power plants of 50 MW capacity each at a cost of Rs 500 crore.

Mumbai-based Lupin has announced acquisition of US rights for Antara, a drug used in the treatment of hypercholesterolemia and hyper-triglyceridemia, from bankrupt US drug maker – Oscient Pharmaceuticals. The company acquired the drug for $38.61 million on September 21, 2009 amid competition Akrimax Pharmaceuticals and private equity player Paul Capital.

Mumbai-based Choice International has received its board’s consent to acquire 30.38% stake in Zenu Info Tech, the company engaged in the software industry. Further, a share purchase agreement is also being entered into between the present promoters of Zenu InfoTech and the company.

Unity Infraprojects, the flagship unit of the Mumbai-based KK Group of Companies, has received its members’ nod for the fund raising plan.

L&T Finance (LTF), promoted by engineering and construction major Larsen & Toubro (L&T), has inked a Memorandum of Understanding with Cholamandalam DBS Finance (CDFL) to acquire entire stake of the latter in DBS Cholamandalam Asset Management (DCAM), an investment manager for DBS Chola Mutual Fund.

Leitner Shriram Manufacturing, the 49:51 joint venture (JV) between Shriram EPC and Italy-based Leitner, on Friday inaugurated its wind turbine manufacturing facility at Gummidipoondi, near Chennai.

Sugar producer, Shree Renuka Sugars has bought 5% stake in India’s second largest and most recognized commodities exchange, National Commodity & Derivatives Exchange (NCDEX) for Rs 36.50 crore.