 "Stocks to watch: Zee Entertainment, Radico Khaitan, Ashok Leyland, Zydus Lifesciences, TVS Motors, and Ultratech Cement")
The GIFT Nifty index on Thursday around 9 am was down 70 points or 0.28 per cent at 24,635.5. It hinted at a negative start for Dalal Street. The India VIX, an indicator of market volatility, was up 0.25 per cent or 14.22 points.
Ahead of the stock market opening in India, here’s a look at stocks to watch:
Zee Entertainment:
Zee Entertainment Enterprises announced on Tuesday (July 16) that it has launched a Foreign Currency Convertible Bonds (FCCB) issue aiming to raise $239 million. The company’s board approved raising funds by issuing unsecured, unlisted FCCBs with a 5 per cent coupon rate, up to $239 million, maturing in 10 years.
Glenmark Pharmaceuticals: Glenmark Pharma has secured final approval from the US FDA for its generic Topiramate Capsules USP, 15 mg and 25 mg, deemed bioequivalent to Janssen Pharmaceuticals’ Topamax Capsules. Topamax is a prescription medication primarily used to treat epilepsy and prevent migraines. Glenmark’s versions will be distributed in the US by Glenmark Pharmaceuticals Inc., USA, entering a market with annual sales of approximately $21.9 million, the company said in a press release on Wednesday (July 17).
Zydus Lifesciences: the company on July 17 announced a non-exclusive patent licensing agreement with Takeda for ‘Vault’ (Vonoprazan) in India. Vonoprazan is a novel gastrointestinal drug and is a next-generation treatment for gastro duodenal ulcers and Gastroesophageal Reflux Disease (GERD).
TVS Motors: Norton Motorcycles, which is part of the TVS Motor Company, has announced plans to launch six new products in the next three years. The British two-wheeler manufacturer is gearing up for international expansion, initially targeting the USA, Germany, France, Italy, and India.
TVS Motor has pledged to invest £200 million in new product development, facilities, research and development, and quality engineering.
Radico Khaitan: Radico Khaitan has introduced the award-winning Sangam World Malt Whisky to the Indian market. Launched just a year ago, Sangam has already garnered international acclaim.
Impact Shorts
More ShortsUltratech Cement: Ultratech Cement has entered into a Power Purchase Agreement and Share Subscription and Shareholders Agreement to acquire a 26 per cent equity stake in Amplus Omega Solar Private Limited, a renewable energy company. The acquisition aims to meet Ultratech’s green energy requirements, optimise energy costs, and comply with regulatory mandates for captive power consumption under electricity laws.
Ashok Leyland: Hinduja Tech Limited, a subsidiary of Ashok Leyland under the Hinduja Group, has signed a definitive agreement to acquire TECOSIM Group. This acquisition grants Hinduja Tech a strategic foothold in Europe, broadening its geographic reach and providing access to key customer accounts.
Zensar Technologies: Zensar Technologies Inc., USA, a wholly owned subsidiary of Zensar Technologies Limited, has signed a definitive agreement to acquire BridgeView Life Sciences, LLC. BridgeView specialises in technology consulting and system integration services for biopharma and life sciences customers, bolstering Zensar’s capabilities in these sectors.
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