Nectar Lifesciences has received the good manufacturing practices certificate from the European health authority for its cephalosporin bulk drug manufacturing facility at Dera Bassi, Punjab. The approval was granted after the Portugal Authority — National Authority of Medicines and Health Products, INFARMED, carried out inspection of the facility. “The INFARMED certificate is accepted by all European Union health authorities, and by authorities of several other countries," Nectar Life said. The approval is valid till 2017. The EU market for cephalosporin oral and injectable antibiotics is currently valued at $1.5 billion. Shares of the company ended at ₹38.40 on the NSE, up 10 per cent over the previous close.

The board of directors of Ashima will meet on March 7 to take on record the status of the proposed scheme of arrangement for reconstruction and compromise between Ashima and its equity shareholders, preference shareholders and secured creditors. The board will also consider a proposal for issue of equity shares on Rights basis to the existing equity shareholders. The stock of Ashima closed at ₹9.04 on the BSE, down 4.84 per cent on the BSE.

Luv Malhotra, one of the promoters of CHL Ltd , has acquired 31,000 equity shares of ₹2 each at a consideration of ₹6.55 lakh on February 6. Post-acquisition, promoters’ holding (including persons acting in concert) has increased to 71.58 per cent from 71.53 per cent. Shares of CHL gained 3.2 per cent at ₹14.70 on the BSE.

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