The Japanese drug maker major Daiichi Sankyo is all set for acquisition of majority shares in Ranbaxy Laboratories. The company has received approval of Sebi and FIPB to push the deal.

The Japanese major can invest its $4.6 billion in the Ranbaxy laboratories. Earlier, the company has acquired over 15% stake of Ranbaxy. It had announced to buy 34.8 per cent shares at the face value of Rs 737 per share. It has shown interest to buy 20 per cent additional stakes in the company.

Drugmaker Aurobindo Pharma Ltd has received US regulatory approval to

Hyderabad-based infrastructure major Nagarjuna Construction Company Ltd has secured four new orders worth Rs 443 crore from various firms.

The first order valued at Rs 107 crore has been secured by the company from the Superintending Engineer, Medium Irrigation Projects Circle, Bellampally, Adilabad (District) for Pranahitha - Chevella Lift Irrigation Scheme. The project is scheduled to be completed in a period of 30 months.

Aegis BPO, a global business process outsourcing (BPO) provider and part of the Essar group, has agreed to buy the Nasdaq-listed offshore BPO provider PeopleSupport, in an all cash deal of $250 million through its Mauritius subsidiary Essar Services.

As per the agreement, Aegis BPO will pay PeopleSupport stockholders $12.25 a share in cash through Essar Services (Mauritius), which represents a premium of about 29% over PeopleSupport’s closing share price on August 1, the last trading day prior to the announcement, and a premium of about 42% over the weighted average trading price of the company’s shares during the previous 30 trading days.

The deal has been approved by the boards of directors of both companies.

Godawari Power and Ispat, an integrated steel manufacturer, has informed that it has received final approval from Government of India, Ministry of Environment & Forest for diversion of 106.60 hectare of Forest Land for Ari Dongri Iron Ore Mines in Bhanupratappur Forest Division in Kanker District of Chhattisgarh.

Reliance Money, the financial distribution company of Anil Dhirubhai Ambani Group, will tie-up with the National Multi Commodity Exchange (NMCE) to set up a spot exchange for agricultural produce.  

The newly formed institution will be called National Agriculture Produce Marketing Company of India (National APMC).  

The spot exchange will provide an electronic trading platform, which will allow producers to get the best price for their commodity at a given point of time, since buyers from all across the country will be able to buy commodities through the exchange.