India’s Dr Reddy’s Laboratories and Japan’s Fujifilm Corporation (Fujifilm) will jointly sell generic drugs in Japan, the world’s second largest pharmaceutical market after the USA. Fujifilm is better known for its photographic products but has been added pharmaceuticals to its portfolio, as digital imaging has affected the prospects of traditional camera and film roll companies.
Global restructuring by multinationals can often result in surprises for shareholders of their Indian subsidiaries of multinational corporations. Engineering company Alstom Projects India announced that its parent company Alstom is forming an equal joint venture with China’s Shanghai Electric Group, to be called Alstom-Shanghai Electric Boilers Co.
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Bajaj Finserv and Allianz Global Investors will set up an 49:51 joint venture to promote a mutual fund. The new company will apply to the relevant authorities, including Sebi for permission to start a new mutual fund. The JV will come up when the uptrend in stock markets is making investors wonder if the bottom is behind them.