Stocks to watch: Dr Reddy’s, Torrent Pharma, Gensol, L&T Finance, Glenmark

  • Here are a few stocks likely to be in focus on Thursday, June 13:

Pranay Prakash
First Published13 Jun 2024, 08:09 AM IST
The NSE F&O ban list for Thursday, June 13, includes Delta Corp, Indiabulls Housing Finance, India Energy Exchange (IEX), and India Cements. (Photo: Bloomberg)
The NSE F&O ban list for Thursday, June 13, includes Delta Corp, Indiabulls Housing Finance, India Energy Exchange (IEX), and India Cements. (Photo: Bloomberg)

Dr Reddy’s Laboratories: The company has signed a licensing agreement with US-based Ingenus Pharmaceuticals to commercialise Cyclophosphamide injection, a cancer treatment. Under the agreement, Dr Reddy’s will commercialise the injection for the US market and pay Ingenus 50% of the calculated profit share.

Torrent Pharmaceuticals: The company announced on Wednesday that it has received a Form 483 with five observations from the US FDA following an inspection of its manufacturing plant in Indrad, Gujarat.

Whirlpool of India, Hindustan Unilever: The two companies announced a new marketing alliance for Surf Excel. According to the alliance, both the brands will have joint marketing initiatives.

Gensol Engineering: The company emerged as the successful bidder for Gujarat Urja Vikas Nigam’s 250 MW (500 MWh) Battery Energy Storage Project worth 1,340 crore. The project will supply electricity to Gujarat State’s DISCOMs during peak and off-peak hours.

L&T Finance: Private equity major Bain Capital is planning to make a complete exit from L&T Finance by selling its existing stake via the block deal route.

Glenmark: The company announced on Wednesday that it has received approval from the US FDA to market a generic medication to treat conditions caused by excessive acid production in the stomach.

Tata Motors: Jefferies’ latest report states that Tata Motors’ India business, which was a significant drag in the past decade, now forms 50% of the price target set by the brokerage for FY26. The company shared its plans to raise its market share in passenger vehicles and increase its non-vehicle revenues in commercial vehicles during its presentation on India Investor Day.

Tata Communications: The company has announced a five-year broadcasting services deal with World Athletics.

Brigade Enterprises: The company plans to invest 8,000 crore in Chennai by 2030 to expand its business and establish the city as its second-largest market. The company also announced the launch of Brigade Icon Residences as part of its high-end mixed-use development projects in Chennai.

PTC India Financial Services: The company’s director Rajib Kumar Mishra and former MD and CEO Pawan Singh have been fined 10 lakh and 25 lakh, respectively, by the market regulator Sebi following its investigation into corporate governance lapses. The regulator has also barred Mishra from taking a director's post in listed companies for six months.

NBCC (India): The company has secured a 100 crore contract from Oil India to construct a centralised core repository with advanced laboratory facilities at Guwahati in Assam.

Zaggle Prepaid Ocean: ICICI Prudential bought a 0.52 percent stake in Zaggle Prepaid Ocean via a bulk deal.

Jaiprakash Associates: The National Company Law Appellate Tribunal (NCLAT) has decided not to stay the order issued by the National Company Law Tribunal (NCLT) that initiated insolvency proceedings against Jaiprakash Associates. The NCLAT has also directed ICICI Bank, the lead creditor, to consider a one-time settlement proposal submitted by the company.

Sobha Limited: They company’s board has approved a rights issue of equity shares worth 2,000 crore. The issue price is set at 1,651 per share, a 25% discount, and will be open from June 28 to July 4. Six rights equity shares will be issued for every 47 fully paid-up equity shares held by eligible shareholders.

Federal Bank: The bank has reportedly submitted three names to the Reserve Bank of India for the position of managing director and chief executive officer. The potential candidates include KVS Manian, a former deputy managing director at Kotak Mahindra Bank, and Shalini Warrier and Harsh Dugar, both currently serving as executive directors of the bank.

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News in Numbers

Numbers that help you understand news better
₹295 Cr

$23 B

$65 M

3.36%

$65.47 B

$2.5 M

₹80 Cr

1.4%

₹773 Cr

₹2,705 Cr

₹1 Cr

₹14,370 Cr

₹5.74 T

First Published:13 Jun 2024, 08:09 AM IST
HomeMarketsStock MarketsStocks to watch: Dr Reddy’s, Torrent Pharma, Gensol, L&T Finance, Glenmark

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