Market Commentary - Stock Alert
Grasim Inds, Lupin, Jupiter Wagons, Torrent Pharma in focus As on : 05-Jan-24  08:58

Grasim Industries: The board of directors of the company approved rights issue of equity shares for an amount aggregating to Rs 3,999.80 crore. The rights issue price is Rs 1,812 per share and record date is 10 January 2024.

Lupin: Lupin announced that it has received tentative approval from the United States Food and Drug Administration (U.S. FDA) for its Abbreviated New Drug Application for Dapagliflozin and Saxagliptin Tablets, 5 mg/5 mg and 10 mg/5 mg, to market a generic equivalent of Qtern Tablets, 5 mg/5 mg and 10 mg/5 mg of AstraZeneca AB. This product will be manufactured at Lupin?s Pithampur facility in India.

Jupiter Wagons: Jupiter Wagons announced the receipt of a contract with the Ministry of Defence for the manufacturing and supply of 697 Boggie Open Military (BOM) Wagons. The contract is valued at Rs 473 crore.

Syrma SGS Technology: Syrma Mobility Private Limited (also referred to as SMPL) is incorporated as a wholly owned subsidiary of the company on 3 January 2024. SMPL belongs to Electronics Design, Assembly and Manufacturing sector.

Torrent Pharmaceuticals: The company has incorporated WOS namely Farmac?utica Torrent Colombia SAS on 3rd January, 2024 in Colombia with the object of providing business support to the company.

UFO Moviez India: The management of UFO Moviez India has considered and approved the termination of the company?s joint venture agreements, each dated 6 July 2023, executed with Qube Cinema Technologies Private Limited (?Qube?) (collectively referred to as ?JVAs?), which were entered into for undertaking the businesses of selling advertisement inventory and mastering of digital content, jointly by the Company and Qube.

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