HEG Limited, a leading electrical equipment manufacturer, announced a significant development to maximise shareholder value. Through a recent stock exchange filing, HEG unveiled a Composite Scheme of Arrangement involving a demerger and subsequent merger. Demerger of Graphite Business and a New Merger The proposed scheme entails the demerger of HEG’s graphite business into a newly …
Nifty Pharma Index Performance On Wednesday, the Nifty Pharma index, which captures the performance of the pharmaceutical sector and comprises 20 companies listed on the National Stock Exchange of India (NSE), recorded a fresh all-time high. The index is up by 14% on a year-to-date basis and is technically on the verge of breaking out …
Sun Pharmaceutical Industries Limited is an Indian multinational pharmaceutical company headquartered in Mumbai, that manufactures and sells pharmaceutical formulations and active pharmaceutical ingredients (APIs) in more than 100 countries across the globe. It is the largest pharma company in India. The company has reported its Q4 FY 2023-24 earnings today. Q4 Performance of Sun Pharma …
On May 22, 2024, Intellect Design Arena Limited announced in an exchange filing the launch of the Intellect Digital Core (IDC) for Cooperative Banks in India. This comprehensive, enterprise-level banking technology solution comprises eMACH.ai, the world’s most extensive open finance platform crafted with ‘First Principles’. Leveraging the composable and contextual core banking technology utilised by …
JK Tyre & Industries, a prominent player in the Indian tire market, has announced plans to invest a significant sum of Rs.1400 crore over the next two years to increase its production capacity; the decision comes from the growing demand for truck, bus, and passenger car radial tires in the domestic market. Rs.1400 Cr Investment …
Vodafone Idea announced that its board has approved a plan to raise up to Rs.2,075 crore through a preferential share issue to Oriana Investments, an entity of the promoter Aditya Birla Group. This decision was conveyed via a regulatory filing, confirming the issuance of 139.54 crore equity shares to Oriana Investments Pte Limited. Share Issue …
On May 22, 2024, Mahindra & Mahindra Financial Services Limited (Mahindra Finance) informed the stock exchanges that the company had received a Certificate of Registration from the Insurance Regulatory and Development Authority of India (IRDAI) to act as a ‘Corporate Agent (Composite)’ under the Insurance Act, 1938. This licence will enable Mahindra Finance to provide …
About the Approval Cipla Limited, a leading pharmaceutical company, has secured final approval from the USFDA for its generic version of Somatuline Depot (lanreotide) Injection. This approval opens doors for Cipla to enter the lucrative US market for the treatment of Acromegaly and Gastroenteropancreatic Neuroendocrine Tumors (GEP-NETs), estimated at approximately USD 898 million annually. Cipla’s …
Domestic indices oscillated between modest gains and losses today, with broader indices reflecting a similar trend. Notable gains were observed in the FMCG, power, and capital goods sectors, while the banks and financial services sectors were the major laggards. At 10:45 am, the BSE Sensex added 0.13% reaching a level of 74,047. The Nifty 50 …
On Wednesday, the benchmark indices were trading mixed with the Sensex up around 45 points or 0.05% at 73,982, while the Nifty-50 was down around 8 points or 0.03% at 22,523. About 1,377 shares have advanced; 1,703 declined and 114 are unchanged on the BSE. Top gainers and losers on the BSE Sensex index: The …
