Stocks in News
Gensol Engineering: The company will be in focus as it has approved the acquisition of a majority stake in Gensol Electric Vehicles, which will further acquire technical and business know-how, patents, trademark and brand name related to electric vehicles from the US-based company. The company will also raise Rs 140 crore from promoters and non-promoters by allotting 13,51,030 equity shares on preferential basis at an issue price of Rs 1,036.25 a share.
AstraZeneca Pharma India: The pharma company has received import and market permission in Form CT-20 subsequent to new drug approval from the Drugs Controller General of India for Olaparib film-coated tablets. Olaparib film-coated tablets 100 mg and 150 mg are additionally indicated as a monotherapy for the adjuvant treatment of adult patients with BRCA-mutated HER2- negative high-risk early breast cancer, who have previously been treated with neoadjuvant or adjuvant chemotherapy.
JSW Steel: The company has entered into a 50-50 joint venture agreement with National Steel Holding (NSHL) for establishing scrap shredding facilities in India. NSHL is engaged in the business of metal recycling, collection and processing based in Auckland, New Zealand. This is in line with the company's target to reduce its carbon footprint by achieving 42 percent reduction in CO2 emissions intensity by FY30 from the base year of 2005.
Tejas Networks: The company has acquired the remaining 93,571 equity shares in Saankhya Labs at a price of Rs 454.19 a share by paying Rs 4.25 crore through secondary purchase. With the said transaction, it has acquired 62,51,496 equity shares, or 64.4% stake in Saankhya, for Rs 283.94 crore, on a fully diluted basis.
Shilpa Medicare: The subsidiary Shilpa Biologicals (SBPL) has successfully completed the phase 3 human clinical studies of its first biosimilar, the 100mg/ml high concentration (HC) Adalimumab biosimilar. The company has submitted the dossier to the CDSCO for review and grant of marketing or manufacturing licence— a first in India. The drug is expected to cater to several diseases including rheumatoid arthritis, plaque psoriasis, and ulcerative colitis.
Oriental Hotels: Nippon Life India Trustee offloaded 1.95 lakh equity shares, or 0.1 percent stake, in the company through open market transactions. With this, its shareholding in the company reduced to 3.1687 percent, down from 3.2783 percent.
