Lupin: The company received U.S. FDA approval for Abbreviated New Drug Application Fesoterodine Fumarate Extended-Release Tablets to market a generic equivalent of Toviaz Extended-Release Tablet of Pfizer Inc. The tablet has an estimated annual sale of $177 million in the U.S.
Gland Pharma: The company through its wholly owned subsidiary has entered into a share purchase agreement with FPCI Sino French Midcap Fund, as the controlling seller to acquire 100% stake in Cenexi and the Cenexi holding entities.
HCL Tech: The company has been selected as the primary IT partner for The ODP Corporation, a business-to-business distribution company. HCL Tech will be the IT partner for ODP for end-to-end IT operations and enterprise-wide digital transformation to support ODP’s business strategy in its Office Depot, ODP Business Solutions and Veyer business units.
Asian Paints: The board approved setting up a new water-based paint manufacturing facility with a capacity of 4 lakhs kilolitres per annum at an approximate investment of Rs 2,000 crore, to be commissioned within three years after acquisition of land.
Hi-Tech Pipes: The company signed MoU with the Government of Uttar Pradesh to set up a mega manufacturing facility of steel tubes and pipes and flat steel with an investment of Rs 510 crore.
RPP Infra Projects: The board approved raising funds through the issue of three lakh equity shares and 1.15 crore warrants convertible into equity shares on preferential basis to non-promoters at a price of Rs 44.25.
Ashoka Buildcon: The company received letters of intent from Dakshinanchal Vidyut Vitran Nigam for two projects worth Rs 807.64 crore.
Keystone Realtors: The company has been selected to redevelop the plot and premises of Basant Park Co-operative Housing Society Limited on a plot spanning 16,896.40 square meters in Chembur, Mumbai. This redevelopment will lead to a sale potential of approximately 2.75 lakh square feet of RERA carpet area.
Mahindra and Mahindra Financial Services: CRISIL Ratings has upgraded its rating on the long-term bank facilities, subordinated debt and NCDs of the company to ‘CRISIL AAA/Stable’ from ‘CRISIL AA+/Stable’.
Krishna Institute of Medical Sciences: The company has made a further investment of acquiring 5.53% stake in Sarvejana Healthcare at Rs 340 apiece, taking its total stake to 56.61%.
Tata Steel: Provisional production volumes rose to 7.52MT in Q3 Vs 7.5MT in Q2. Deliveries dipped to 6.98MT in Q3 Vs 7.08MT in Q2.
Tata Steel Long Products: The provisional production volumes of Direct Reduced Iron rose to 1.83 lakh tons in Q3 from 2.28 lakh tons. Production volumes for crude steel rose 2.28 lakh tons in Q3, compared to 1.61 lakh tons in the previous quarter.
Titan Company: Business Updates For December Quarter
– Jewellery business grew 11% year-on-year, while watches and wearables segment grew 14%.
– Eyecare vertical registered 10% growth.
– Fashion, fragrances and apparel businesses grew 75%.
– Subsidiaries TEAL and CaratLane grew 58% and 50%, respectively.
– On standalone basis, Titan Co. had 2,362 stores as of Dec. 31, 2022.
Kalyan Jewellers: Business Updates For December Quarter
– The company recorded sequential consolidated revenue growth of approximately 13%.
– The company recorded 24% growth in the Middle East Q-o-Q on the back of improved customer sentiment.
Bandhan Bank: Business Updates For December Quarter (YoY)
– Loans and advances grew 14% to Rs 1.01 lakh crore.
– CASA deposits declined 3% to Rs 37,194 crore, with CASA ratio at 36.4% against 45.6%.
– Total deposits grew 21% to to Rs 1.02 lakh crore.
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