Biocon will launch biologic drug Itolizumab for the treatment of moderate to severe covid-19 patients at a price of around ₹8,000 per vial
Jio Platforms, a wholly owned subsidiary of Reliance Industries Ltd, has received subscription amount of ₹420.5 billion from five investors
Here’s a list of stocks that may be in news on Tuesday:
Biocon: Biotechnology major Biocon will launch biologic drug Itolizumab for the treatment of moderate to severe covid-19 patients at a price of around ₹8,000 per vial. The company has received approval from the DCGI to market Itolizumab injection 25mg/5mL solution for emergency use in India for the treatment of cytokine release syndrome in moderate to severe acute respiratory distress syndrome due to covid-19.
Reliance Industries: Jio Platforms, a wholly owned subsidiary of Reliance Industries Ltd, has received subscription amount of ₹420.5 billion from five investors -- Vista Equity Partners, Omicron Asia Holdings II Pte, MIC Redwood 1 RSC Limited, Platinum Owl C 2018 RSC Ltd and India Markets Pte – and has allotted equity shares to them.
Cipla: The discussions to renegotiate the deal between Cipla’s US subsidiary CipTech and Pulmatrix Inc for the co-development and commercialization of antifungal drug Pulmazole, are now in progress. The renegotiated agreement may include, amongst other things a reallocation of costs and a grant of rights to CipTec to develop and commercialize Pulmazole in select markets outside the United States, Cipla said in a regulatory filing.
Motherson Sumi: Moody's Investors Service on Monday downgraded the rating outlook of auto component maker Motherson Sumi Systems to negative on account of expected weak financial performance in ongoing fiscal due to the coronavirus pandemic. Moody's changed the outlook on the rating to 'negative' from 'ratings under review', the rating agency said in a statement.
Godrej Industries: The company has approved the issuance of up to 7,500 rated, listed, unsecured, redeemable, non-convertible debentures having face value of ₹10 lakh each, aggregating to ₹750 crore on private placement basis.
Zydus Wellness: The company believes that the impact of covid-19 on its business, supply chain and demand of products will not be significant. “We remain cautiously optimist about next 2 quarters of the Financial Year 2020-2021. Meanwhile, we are also finding newer ways of managing the business and have been working of changes in the business operating model, including the possibilities of using digital technology," Zydus Wellness said in a regulatory filing.
Bharti Airtel: The company will move the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) against the Telecom Regulatory Authority of India (Trai) order directing to put on hold the telco’s Platinum plan, which offers faster data speeds and priority services to higher-paying postpaid customers, according to a Mint report.
City Union Bank: Private sector City Union Bank on Monday said its board has approved the proposal to raise up to ₹1,100 crore through equity and debt. The lender will seek shareholders' approval for the fund raise plan at its upcoming AGM next month.
Bata India: Company’s revenue from operations for the quarter ended 31st March 2020 declined 9% y-o-y to ₹6197.03 million primarily due to suspension of the company's stores towards second half for the month of March in the view of nationwide lockdown to control covid-19.
Adani Green: The company has commissioned 50 MW Kilaj Solar plant in Rawra, Rajasthan pursuant to project awarded from SECI at a tariff of ₹2.54/unit, it said in a regulatory filing.
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