Top 3 business stories of Oct 6: Indian pharmaceuticals firm Intas Pharmaceuticals to acquire Actavis Generics's UK assets and more

1. Indian pharmaceuticals firm Intas Pharmaceuticals to acquire Actavis Generics's UK assets for around Rs 5,100 crores

Ahmedabad-based Intas Pharmaceuticals will acquire assets and operations of Actavis Generics in the UK and Ireland from Teva Pharmaceuticals for 603 million pounds (about Rs 5,120 crore). The deal is being reported to be one of the largest acquisitions by an Indian drug maker firm overseas.Also Read: Indian pharmaceuticals firm Intas Pharmaceuticals to acquire Actavis Generics's UK assets for around Rs 5,100 crores.

The acquisition from Teva Pharmaceutical Industries Ltd is being done by Accord Healthcare Ltd, an arm of Intas Pharmaceuticals. The divestment of certain specified Actavis Generics assets and operations in the UK and Ireland was part of an undertaking that Teva made to the European Commission in the context of the review of the acquisition of Actavis Generics by Teva earlier this year, the company said in a statement.

Also Read: Indian pharmaceuticals firm Intas Pharmaceuticals to acquire Actavis Generics's UK assets for around Rs 5,100 crores

2. Reliance Jio Infocomm rewards top performers with 15 per cent salary hikes in bid to retain best talent

Reliance Industries telecom arm Reliance Jio Infocomm has rewarded its top performers with a 15% salary hikes in a bid to retain its best talent even as its countrywide 4G operations is gathering momentum.

Jio has increased salaries of the top performers among its junior and middle level managers by 15% while high fliers among its senior executives, in the level of DGM and above, have got a 10% raise, a person aware of the matter told Economic Times.

Also Read: Reliance Jio Infocomm rewards top performers with 15 per cent salary hikes in bid to retain best talent

3. Indian stock markets record losses owing to selling pressure in banking, IT and pharma stocks

The BSE Sensex on thursday ended today’s trading with a loss of 115 points at 28,106. It opened at 28,298, touched an intra-day high of 28,329 and low of 28,031. The NSE Nifty closed with a loss of 34 points at 8,710. It opened at 8,769, hit an intra-day high of 8,781 and low of 8,685.

Sensex fell by over 100 points on the back of selling pressure in banking, IT and pharma stocks. Buying activity was seen in energy, oil & gas and metal sectors, while telecom, banking, auto,FMCG, finance and industrial sectors showcased weakness on BSE.

Also Read: Sensex fell by over 100 points on the back of selling pressure in banking, IT and pharma stocks