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Sun gets support of RMG in battle against Taro
Sun Pharmaceutical Industries’ attempts to take over Israeli drug major Taro Pharmaceutical is gaining more support from independent advisory firms. RiskMetrics Group’s ISS Governance Services (RMG), an independent proxy advisory firm, has recommended that shareholders of Taro Pharmaceutical Industries vote against all the proposals made by Taro’s board of directors, including all of its nominees for election and re-election as directors in the upcoming Annual General Meeting (AGM) scheduled for December 31, Sun Pharma said in a press release.

Piramal Healthcare okays Rs 1K cr fund raising
Drug maker Piramal Healthcare today said its board has approved the raising of funds up to Rs 1,000 crore through the issue of securities.

News of the day

Govt mulling next move on Telangana
The Centre appears to be bracing itself up for more discussions with political parties and groups on the issue of Telangana on the lines of the dialogue held here yesterday.
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Pyramid to demerge two of its wings; to raise $100 mn

Entertainment firm Pyramid Saimira Theatre today said it will demerge two of its subsidiaries — Pyramid Saimira Content Distribution and Pyramid Saimira Production International — from itself. - PVR to invest Rs 100 cr in three years - Pyramid Saimira denies talks with Sun TV - Don"t count ADR, GDR to decide bank"s nationality: ICICI - US markets rally, indices hit new 2009 highs - Wall Street ends in green; Indian ADRSs mixed - Jaiprakash Hydro to raise up to Rs 1,500 cr to fund project The board has approved the demerger of Pyramid Saimira Content Distribution (distribution wing) and Pyramid Saimira Production International(production wing) from the parent company, Pyramid Saimira said in a filing to the Bombay Stock Exchange. Further, the board has also approved to raise $100 million by issue of Global Depository Receipts and Annual Depository Receipts, the filing added. Shares of Pyramid Saimira Theatre today rose 4.89 per cent to hit the upper circuit at Rs 25.75 on the BSE.


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