Market Commentary - Stock Alert
RIL, L&T, Power Grid, Lupin to be watched As on : 12-Sep-23  08:42

Reliance Industries (RIL): Reliance Retail Ventures (RRVL) announced that global investment firm KKR, through an affiliate, will invest Rs 2,069.50 crore into RRVL, a subsidiary of RIL. This investment values RRVL at a pre-money equity value of Rs 8.361 lakh crore, which makes it among the top four companies by equity value in the country.

L&T: The buyback committee of the company has approved to increase buyback price from Rs. 3,000 per equity share to Rs. 3,200 per equity share. The maximum number of equity shares proposed to be bought back has been reduced from 3.33 crore to 3.125 crore equity shares representing 2.22% of the total paid-up equity shares of the company.

Power Grid Corporation of India: The company has been declared as successful bidder under Tariff Based Competitive Bidding to establish Inter-State Transmission System Project namely ?Transmission system for evacuation of power from REZ in Rajasthan (20 GW) under Phase-III Part C1? on Build, Own Operate and Transfer (BOOT) basis.

Lupin: Lupin plans to enter into a business transfer agreement with Lupin Manufacturing Solutions Limited (LMSL), wholly owned subsidiary of the company, to carve out two Active Pharmaceutical Ingredients (API) manufacturing sites at Dabhasa and Visakhapatnam and select R&D operations, including fermentation, at Lupin Research Park, Pune.

Krishna Institute of Medical Sciences: Material subsidiary i.e. KIMS Hospital Enterprises Private Limited has made a further investment by acquiring an equity stake of 13.24% in M/s. Kondapur Healthcare Limited for Rs 20 crore.

Gufic Biosciences: The company has received approval from the Therapeutic Group Administration (TGA), Australia and the National Health Surveillance Agency (ANVISA), Brazil for Parecoxib Sodium 40mg Lyophilized Powder for Injection, a selective COX-2 inhibitor, which shall be used for short-term treatment of acute pain and post-operative pain in adult patients.

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