Market Commentary - Stock Alert
Power Grid, Aurobindo Pharma, Cipla, Skipper in focus As on : 17-Aug-23  09:01

Power Grid Corporation of India: The company informed that assets under ?North Eastern Region Strengthening Scheme-VI? have been commissioned with effect from 23rd May 2021 vide CERC order dated 28th June 2023 for which Notification for Commercial Operation (DOCO) has been received on 16 August 2023.

Aurobindo Pharma: Aurobindo Pharma announced the launch HIV triple combination product for children living with HIV in low- and middle-income countries under voluntary licence from ViiV Healthcare. Aurobindo has capacities in their FDA approved plant to meet the market demand for this product and commercial production will commence in Q3 FY24.

Cipla: The Office of the Joint Commissioner (Konkan Division), Food and Drugs Administration issued an order for suspension of FDA license issued to company's manufacturing unit located at Patalganga (Unit II) for a period of 10 days in December 2023 for non-conformance of good manufacturing practices. The company is in the process of appealing the order to the State Government.

Lupin: The drug major announced the launch of Tiotropium Bromide Inhalation Powder, 18 mcg/capsule, for the treatment of chronic obstructive pulmonary disease (COPD) in the US. Tiotropium Bromide Inhalation Powder had estimated annual sales of $1,264 million in the US (IQVIA MAT March 2023).

Skipper: The company's board approved the issuance of equity shares for an amount upto Rs.200 crore by way of a rights issue to the eligible equity shareholders of the company as on the record date.

GI Engineering Solutions: A meeting of the board of directors of the company is scheduled on 19 August 2023 to consider and approve fund raising by way of issue of securities, convertible instruments, or any other method or combination thereof.

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