Market Commentary - Stock Alert
Emami, Dr. Reddy's Labs, Godrej Agrovet, Piramal Pharma in focus As on : 29-Sep-23  08:45

Emami: Emami announced its foray into juice category with 'AloFrut' through strategic investment in Axiom Ayurveda Pvt Ltd (?Axiom?) and its subsidiaries/associates by acquiring 26% equity stake for an undisclosed amount. Axiom markets beverage products under the brand ?AloFrut?.

Dr. Reddy's Laboratories: Dr. Reddy's Laboratories SA, in Switzerland, a wholly-owned subsidiary of the Company, has incorporated a wholly-owned subsidiary in Jamaica, named ?Dr. Reddy's Laboratories Jamaica Limited?. The NewCo. will be engaged in importation, warehousing, distribution and exportation of pharmaceuticals.

Godrej Agrovet: The company has entered into a Strategic Partnership Agreement with Sime Darby Plantation Berhad (?SDP?) to combine SDP's Cutting-Edge Research, Development Capabilities and Proprietary Knowledge with Godrej Agrovet Limited's strong presence and expertise in the Indian Oil Palm Plantation (OPP) Sector.

Piramal Pharma: The US FDA conducted a Good Manufacturing Practices (GMP) Inspection of Piramal Pharma's Bethlehem facility from 18 to 27 September 2023. On conclusion of the inspection, a Form-483 was issued with 2 observations.

NLC India: NLCIL and GRIDCO Limited signed a Power Purchase Agreement (PPA) in GRIDCO Limited in Bhubaneswar for 400MW in Stage-1 and 400 MW in Stage-2 of NLCIL's proposed Neyveli Talabira Super Critical Thermal Power Station (NTTPP) in Odisha. With this agreement, NLCIL has tied up its full capacity of 2400 MW of Neyveli Talabira Super Critical Thermal Power Station Stage-1.

Saregama India: Saregama has acquired majority stake in India's leading digital entertainment company Pocket Aces. Saregama will acquire 51.8% shares for about Rs 174 crores with a clear path to further acquire another about 41% stake in next 15 months at pre-agreed multiples. The transaction is an all-cash deal.

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