Biocon, a leading biopharmaceutical company in India, has made a significant move by transferring its branded formulations business to Eris Lifesciences for a whopping ₹1,242 crore on a slump sale basis. This strategic decision is expected to streamline Biocon’s operations and focus on its core strengths in the biopharmaceutical sector.
In other news, Ashiana, a prominent real estate developer, has announced that all units in phase 3 of its project ‘Ashiana Amarah’ have been successfully converted into bookings by March 30, with a sale value of 4.40 billion rupees. This achievement reflects the strong demand for quality real estate projects in the market.
Meanwhile, Ramco Cements has commissioned line II at its grinding unit in Odisha, further enhancing its production capacity and strengthening its presence in the cement industry. This development is a testament to Ramco Cements’ commitment to innovation and growth.
ESAF SFB, a leading small finance bank, has operationalized its authorized dealer category 1 license for Foreign Exchange Operations, effective April 2. This milestone will enable ESAF SFB to offer a wider range of services to its customers and expand its presence in the financial services sector.
Sunteck Realty has leased its building in the prestigious Bandra Kurla Complex (BKC) to BennettColeman & Co for a long-term tenure, showcasing the company’s strong foothold in the commercial real estate market. This strategic partnership is expected to drive mutual growth and success for both parties.
In the technology sector, Quick Heal, a cybersecurity solutions provider, has entered into a partnership with MTech Solutions for advanced cybersecurity services. This collaboration will enhance Quick Heal’s offerings and strengthen its position in the competitive cybersecurity market.
Overall, these developments across various industries highlight the dynamic nature of the Indian business landscape and the resilience of companies in adapting to changing market conditions. Stay tuned for more updates on the latest business news and trends.
