Buzzing Stocks : Lupin, Aurobindo Pharma, JK Paper, Navin Fluorine, Afcons Infrastructure, 63 Moons, Biocon in focus on Monday.
Biocon : The company's subsidiary, Biocon Biologics, announced that the European Medicines Agency’s Committee for Medicinal Products for Human Use (CHMP) has issued a positive opinion recommending the approval of YESINTEK, an Ustekinumab biosimilar, based on the application filed by Biosimilar Collaborations Ireland, an indirect wholly owned subsidiary of Biocon Biologics. YESINTEK is used for the treatment of adults and children with plaque psoriasis, and adults with psoriatic arthritis or Crohn’s disease.
Reliance Industries : The company has acquired a 74% stake in Navi Mumbai IIA (NMIIA) for Rs 1,628.03 crore. City and Industrial Development Corporation of Maharashtra (CIDCO) holds the remaining 26% equity shares in NMIIA. With this acquisition, NMIIA has become a subsidiary of the company.
GMM Pfaudler : The Board has appointed Alexander Poempner as Group Chief Financial Officer, effective February 7, 2025, after Manish Poddar resigned as Chief Financial Officer. Meanwhile, the board has approved the closure of the manufacturing facility in Hyderabad.
GE Power India : The company has received an extension of a purchase order for an amount of Rs 18.27 crore from MP Power Generating. The order includes the supply of boiler parts for the Sanjay Gandhi power station.
63 Moons Technologies : The Board has approved a one-time settlement (OTS) of Rs 1,950 crore as proposed by the NSEL Investors Forum (NIF).
Afcons Infrastructure : The company has received a Letter of Acceptance (LOA) for a project worth Rs 1,006.74 crore from Madhya Pradesh Metro Rail Co. The project involves the design and construction of an elevated viaduct, thirteen elevated metro stations, which will connect Bhadbhada Chauraha to Ratnagiri Tiraha for the Bhopal Metro Rail Project.
Godrej Agrovet : The Government of Gujarat has allotted land to the company in three districts (Vadodara, Surat, and Tapi) for the expansion of oil palm cultivation under the National Mission on Edible Oils - Oil Palm (NMEO-OP).
Aurobindo Pharma : The company's subsidiary, CuraTeQ Biologics, has announced that the Committee for Medicinal Products for Human Use (CHMP) within the European Medicines Agency (EMA) has adopted a positive opinion for Zefylti (BP13, a filgrastim biosimilar), recommending the granting of marketing authorization. Zefylti is used for the treatment of neutropenia and the mobilization of peripheral progenitor cells (PBPCs).
JSW Energy : The company has filed a petition before the Maharashtra Electricity Regulatory Commission (MERC) for the recovery of invoices from Maharashtra State Electricity Discom Company (MSEDCL). MSEDCL has also filed a petition before MERC challenging the invoices raised by the company.
Bharat Forge : The company's subsidiary, Kalyani Strategic Systems, has entered into a Cornerstone Investment Agreement with Edgelab SpA, Italy, for the acquisition of a 25% stake in Edgelab for 2.5 million euros, pursuant to its proposed initial public offering.
JK Paper : The paper and packaging solutions company has announced a Scheme of Arrangement to consolidate its business operations. As part of the Scheme, the three subsidiaries (Horizon Packs, Securipax Packaging, and JKPL Utility Packaging Solutions) will be merged with JK Paper to create a consolidated paper and packaging company. Separately, the Board also approved the acquisition of a majority stake in Radhesham Wellpack.
Jaiprakash Power Ventures : The High Court of Andhra Pradesh has stayed the demand of Rs 1,334 crore by the Department of Mines & Geology against Jaiprakash Power Ventures.
Max Financial Services : The Registrar of Companies has approved a change in the corporate name of Max Life to Axis Max Life Insurance.
Lupin : The pharma company has acquired three anti-diabetes trademarks (GIBTULIO, GIBTULIO MET, and AJADUO) from Boehringer Ingelheim International GmbH to strengthen its diabetes portfolio in the country.
Premier Explosives : The company has entered into a Memorandum of Understanding (MOU) with Global Munition, a subsidiary of NIBE Ordnance and Maritime, to set up a joint venture for manufacturing defense and aerospace products. In the proposed joint venture, Global Munition and Premier Explosives will hold equity in a 51:49 ratio.
Navin Fluorine International : Amrit Singh has resigned as CEO of the specialty business of the company, effective February 10, 2025, to pursue interests outside the company. Going forward, Nitin G. Kulkarni, Managing Director, will directly oversee the specialty business with the assistance of relevant team members. R. Janakiraman has also resigned as Chief Supply Chain Officer of the company, effective December 31, 2024.
Aeroflex Industries : The board has given its approval for the company to raise funds of up to Rs 400 crore via a qualified institutions placement (QIP).
Hero Motocorp : The company has signed on as the title sponsor of the Hockey India League for the next three seasons, starting from 2024-25.
PVR INOX : The company has opened its 6-screen multiplex in Dehradun, Uttarakhand.
F&O Ban : Manappuram Finance, SAIL, Granules India, Hindustan Copper, Metropolis Healthcare, National Aluminium Company, PVR INOX, RBL Bank.
