PRE-MARKET INDIAN STOCKS NEWS: Power Grid Corporation of India (PWGR IS) board approved a proposal to raise up to INR 100bln through an unsecured rupee term loan or line of credit from State Bank of India

Adani Power (ADANI IS) - Co. completed the merger of 10 wholly owned subsidiaries with the company as part of a group restructuring exercise. (Economic Times) Edelweiss Financial Services (EDEL IS) - Co. announced the completion of Carlyle’s investment of more than INR 20bln in Nido Home Finance. (Economic Times) Power Grid Corporation of India (PWGR IS) - Co. board approved a proposal to raise up to INR 100bln through an unsecured rupee term loan or line of credit from State Bank of India. (Economic Times) Steel Authority of India (SAIL IS) - Co. and Bharat Coking Coal signed an MoU to jointly develop and operate two coal blocks in West Bengal. (Economic Times) Unichem Laboratories (UNCL IS) - US FDA inspected the Co.’s Goa formulation facility in Pilerne from September 21st to 26th, with the inspection concluding with five observations related to procedural enhancements. (Moneycontrol) Zydus Lifesciences (ZYDUSLIF IS) - US FDA conducted an on-site inspection of the Co.’s pharmacovigilance and post-marketing surveillance systems at its New Jersey office from September 22nd to 25th. (Moneycontrol)