31 Oct 2016

Corporate action in India

In the private sector, Torrent Pharma have invested $28mil for a 75% stake in a start-up enterprise, PurO Wellness. Infosys has agreed a cooperation agreement for its Finacle branded Banking and Financial Services platform to provide a blockchain network for ICICI Bank and Emirates NBD to process remittances and trade finance. HCL Techno has spent $85mil to acquire US company Butler Aviation to expand its footprint in the aviation sector. The price represents one year’s sales for Butler. Nestle India disclosed that it Maggi brand is rapidly recovering market share following the product ban in 2015 for alleged ingredient rule breaches.

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