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Business Briefs

Sun buys Taro

New Delhi, Aug. 13: The board of Israel-based Taro Pharmaceutical has agreed to sell the remaining stake of the company to Sun Pharmaceutical and its affiliates for an enhanced price of $39.50 per share. “The merger agreement was approved by Taro’s board of directors based upon the recommendations and approvals of the special committee of Taro’s board of directors and the audit committee of Taro’s board,” Sun Pharmaceutical said.

Maruti plant

New Delhi, Aug. 13: Maruti Suzuki India today deferred till Friday the decision to reopen its Manesar plant following a meeting of the company’s top brass. “We may be able to complete the total assessment of the situation at the Manesar plant by Friday and expect a clear picture to emerge regarding the reopening of the plant by then,” chief operating officer (administration) S.Y. Siddiqui said.

BoB rates

New Delhi, Aug. 13: The Bank of Baroda today hiked deposit rates by up to 1.75 per cent with effect from today. Deposits of 46-90 days maturity will have interest rates of 6.25 per cent, up from 4.50 per cent. Customers will also get a 9 per cent interest rate on deposits of 1-3 year and 3-10 year.


 
 
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