Biocon, Cipla and ZEEL are among stocks in the news

Market


Srei Infrastructure: The Reserve Bank of India on Monday superseded the board of directors of Srei Infra and Srei Equipment Finance Ltd, owing to governance concerns and defaults by SREI Group Companies. RBI appointed Rajneesh Sharma, the former chief general manager at Bank of Baroda, as administrator. 

Cipla: North American drug manufacturer Eli Lilly’s Indian arm announced a strategic partnership with Indian pharmaceutical Cipla which allows the latter to sell, promote and distribute two of Lilly’s diabetes products, Humalog and Trucility in India. The partnership is subject to regulatory approvals. 

Biocon: Biocon Ltd on Monday announced the launch of Everolimus tablets, a generic version of Afinitor, in the US. Everolimus (Afinitor) is a prescription medication that is used to treat certain types of cancers and tumours. The commercial launch of Everolimus follows an US FDA approval in February 2021.

Macrotech Developers: Mumbai-based real estate firm Macrotech Developers on Monday said properties worth 1,100 crore were sold last month in one of its London projects and that it expects to sell the entire inventory before the 2023-24 fiscal year. The company said that in September, the project achieved Pre Sales of £110 million ( 1,100 crore).

NTPC: NTPC share price touched a 52-week high of 145.75, rising 4% intraday on Monday on reports of the government-owned electricity generator’s plan to list three of its subsidiaries as part of its asset monetization efforts by March 2024. There was, however, an unconfirmed report that the state-run firm had denied such as move.

Adani Group: Founder of the group Gautam Adani said on Monday he was planning an investment of $50-70 billion across energy chain in organic and inorganic growth opportunities across the entire energy value chain over the next decade.

ZEEL: NCLT is to hear Invesco’s plea in its spat with Zee Entertainment Enterprises Ltd on Tuesday. Invesco on Monday urged the National Company Law Tribunal (NCLT) to pass an order to ensure the convening of the company’s Extraordinary General Meeting (EGM). After hearing the matter for some time on Monday, the tribunal adjourned the proceedings for Tuesday.

SBI: State Bank of India, which raised 4,000 crore in capital through additional tier I bonds (AT1 bonds) in September, is planning another round of AT1 bond issuance of 6,000 crore to replace maturing securities. Its capital adequacy ratio (CAR) stood at 13.66% with tier-I of 11.32% at the end of June. The Common Equity tier I (CET1) was 9.91% and AT1 was 1.41% in June

Bharti Airtel: Bharti Airtel Rights Entitlement is listing on Tuesday. The rights entitlements of Bharti Airtel’s 21,000 crore rights issue will start trading on the stock exchanges from Tuesday. The company is planning to raise the sum in three tranches by issuing 1 share for every 14 shares held of the company to shareholders at 535 a share.

Nalco: There was an unconfirmed report about Niti Aayog recommending the privatization of Nalco along with another aluminium major.

Tata Motors: The Tata Punch has been finally unveiled in India and the carmaker has already started accepting booking for a token amount of up to 21,000. It’s the first Tata SUV underpinned by the ALFA-ARC (Agile Light Flexible Advanced Architecture) platform and is based on the brand’s Impact 2.0 design language. The price announcement is likely to happen around festive season and it will be positioned below the Nexon subcompact SUV in the line-up.

 

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