Stock to Watch Today - Rupeedesk Reports - 07.09.2023
Buzzing Stocks: Lupin, Hero MotoCorp, TCS,
Responsive Industries & others in news today.
Lupin: The pharma major has announced collaboration with Mark Cuban Cost Plus
Drug Company, and the COPD Foundation, dedicated to enhancing the lives of COPD
patients. This collaboration aims to bolster access to healthcare by expanding
the availability of Tiotropium Bromide Inhalation powder, 18 mcg/capsule, to
COPD (chronic obstructive pulmonary disease) patients in the US. Lupin’s
Tiotropium Bromide Inhalation Powder is currently the only generic product
available that is therapeutically equivalent to Spiriva HandiHaler by
Boehringer Ingelheim Pharmaceuticals, Inc.
Tata Consultancy Services: The country's largest IT services company has
entered into a strategic partnership with the digital unit of JLR. TCS will
help JLR build a new future-ready, strategic technology architecture that will
support JLR's Reimagine strategy. The new partnership, valued at 800 million
pound over the next five years.
Reliance Industries: Subsidiary Reliance Retail Ventures has signed a joint
venture with Alia Bhatt’s kids and maternity-wear brand, Ed-a-Mamma for a 51
percent majority stake. Further, subsidiary received the subscription amount of
Rs 8,278 crore from Qatar Holding LLC (QIA) and allotted 6,86,35,010 equity
shares to QIA.
Hero MotoCorp: The electric vehicle maker has
raised Rs 900 crore from its existing investor Hero MotoCorp and GIC, through a
rights issue. Company plans to use the funds for new product launch and
expansion of its charging infrastructure and retail network.
GVK Power & Infrastructure: Anicattu Issac George has resigned as
Whole-time Director & CFO of the company with effect from August 31. The
company is in the process of appointing a new Chief Financial Officer.
Biocon: Subsidiary Biocon Biologics has completed the integration of the
acquired biosimilars business from Viatris in North America effective September
1. To further strengthen its leadership in the global biosimilars industry and
provide complete end-to-end capabilities to patients and customers, Biocon
Biologics recently acquired the global biosimilars business of its long-term
partner Viatris.
Varroc Engineering: The automotive component company has entered into power
purchase agreement with special purpose vehicles - AMP Energy C&I Twenty
One, AMP Energy C&I Twenty, and AMP Energy C&I Twenty Two. Varroc will
acquire 26% stake in SPVs for establishing renewable power plants in Maharashtra
with combined captive capacity of 33.10 MWp / 22.01 MWac, under captive power
scheme.
Responsive Industries: The vinyl flooring manufacturer has bagged a contract
for the Garib Rath initiative from Indian Railways. Last month, the company had
secured orders from the Indian Railways for the Vande Bharat project.
REC: The state-run Maharatna company has signed a foreign currency term loan
agreement for $100 million with Export Import Bank of India (Exim Bank). The
loan has been tied up for a 5-year tenor. The loan will be used towards
refinance for on-lending to its borrowers in power, infrastructure and
logistics sector for importing capital equipment.
RHI Magnesita: The Competition Commission of India (CCI) has cleared Rhone
Capital's proposed acquisition of a 29.9 percent stake in RHI Magnesita NV.
Ignite Luxembourg Holdings is owned and controlled by US-based private equity
firm Rhone Capital, which is an affiliate of Rhone Group.
AU Small Finance Bank: The bank has entered into bancassurance tie-ups with
Star Health and Allied Insurance Company for health insurance solution to
bank's customers, and Bajaj Allianz Life Insurance Company for life insurance
solution to bank's customers.
Vedanta: The company has incorporated a wholly owned subsidiary - Sesa Iron and
Steel for growth projects and to undertake expansion of its operations.
Force Motors: The commercial and utility vehicles maker has announced
production of 3,032 units in August. Domestic sales for the month stood at
2,601 units, and exports at 675 units.
Tata Consumer Products: The Tata Group company sent clarification note to
exchanges on the Reuters news saying Tata Consumer is in talks to buy at least
51% stake in Haldiram's. The company said they are not in negotiations for
stake in Haldiram, while Haldiram’s also denied stake sale reports, saying not
in talks with Tata Consumer.
*Data Source : Govt, Nse ,Bse, Private News Channels and Websites Etc
