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The Economic Times

Suven Pharmaceuticals names Vivek Sharma as executive chairman

Suven Pharma, backed by Advent International, has appointed Vivek Sharma as the new executive chairman effective September 20. Sharma brings extensive experience in managing CDMO businesses and will focus on global expansion. The former chairman, Annaswamy Vaidheesh, transitions to vice-chair of Suven’s Advisory council.

The Economic Times

Ambuja Cements shares drop 3.04% as Sensex rises

On the technical charts, the RSI of the stock stood at 33.8.

Business Standard

Garware Technical Fibres Ltd leads gainers in 'A' group

Suven Pharmaceuticals Ltd, Reliance Power Ltd, Rainbow Childrens Medicare Ltd and K P R Mill Ltd are among the other gainers in the BSE's 'A' group today, 19 September 2024.

The Economic Times

Trump, Harris angle to gain political edge from Fed rate cut

The Federal Reserve's decision to cut interest rates by half a percentage point has stirred the 2024 presidential race. Kamala Harris welcomed the move as beneficial for middle-class families, while Donald Trump suggested it might be politically motivated. The economy and interest rates have become key issues in the election debate.

Mint

Aster DM Healthcare quashes merger rumours: Is Blackstone-backed Care Hospitals still in the race?

Aster DM Healthcare has dismissed speculation about a potential merger with Blackstone-backed Care Hospitals. A merger between the two entities would potentially create one of the largest healthcare networks in India.

The Economic Times

Bhartias lead race for Coke bottler Hindustan Coca-Cola Beverages, ink exclusivity pact to buy up to 40% stake for $1.4 billion

The Jubilant Bhartia Group promoters are leading the race to acquire a significant minority stake in Coca-Cola's India bottling arm, Hindustan Coca-Cola Beverages (HCCB). They have signed an exclusivity agreement with Coca-Cola to negotiate the purchase for Rs 10,800-12,000 crore. This move is part of Coca-Cola's strategy to adopt an asset-light model and precedes a planned listing of HCCB.

The Economic Times

Share price of Ambuja Cements falls as Nifty strengthens

A total of 6,671 shares changed hands on the counter till 11:25AM (IST).

Mint

Ace investor Ashish Kacholia recently dumped these five stocks. Here’s all you need to know.

Kacholia turned heads when he exited these stocks between December 2023 and June 2024. Was it a mistake or will his decision be vindicated?

The Economic Times

Panacea, Sanofi settle patent litigation over hexavalent vaccine

Panacea Biotec has settled a patent infringement case with Sanofi Healthcare India over a hexavalent vaccine. Sanofi will not launch its Shan6 vaccine in India and will withdraw its opposition to Panacea's patent. Panacea will forgo claims for damages. The Delhi High Court disposed of the suit on September 13, 2024.

CNBC TV18

Indo National divests 51% stake in Kineco for ₹220 crore

The Chennai-based manufacturer plans to deploy the funds in new-age enterprises, aerospace and defence industries, as well as across diverse categories of the fast-moving consumer goods sector, according to a statement.

The Economic Times

Nippo-maker Indo National sells entire 51% stake in Kineco for Rs 220 cr

Chennai's Indo National Ltd has sold its 51% stake in Kineco Ltd for Rs 220 crore to an unnamed consortium. CEO Pavan Kumar BVS stated the funds will be invested in aerospace, defense, and various fast-moving consumer goods sectors.

Business Line

DCX Systems subsidiary bags defence manufacturing licence

Raneal Advanced Systems to manufacture classified security products at Aerospace SEZ in Bengaluru

Business Standard

Indo National divests its entire 51% stake in Kineco for Rs 220 crore

Indo National Ltd, the manufacturer of consumer electrical products and dry cell batteries under brand Nippo, on Tuesday, announced to divest its entire 51 per cent stake in Kineco Ltd, a composites manufacturer, for Rs 220 crore. The Chennai-based manufacturer plans to deploy the funds in new-age enterprises, aerospace and defence industries, as well as across diverse categories of the fast-moving consumer goods sector, according to a statement. "The board of directors decided to sell its 51 per cent stake in Kineco Limited to a consortium of investors for a consideration of Rs 220 crore," it said. Indo National is the second-largest player in the dry cell industry, with a production capacity of 800 million batteries per annum. Besides it also has a presence in consumer electricals and torchlights manufacturing. In 2016, the company invested in Kineco, a key composites business offering a wide range of products and processing technologies for defence, railways and industrial ...

Business Standard

Geojit Financial Services Ltd leads losers in 'B' group

Biofil Chemicals & Pharmaceuticals Ltd, Vimta Labs Ltd, Ruchira Papers Ltd and Sportking India Ltd are among the other losers in the BSE's 'B' group today, 17 September 2024.

The Economic Times

Panacea Biotec, Sanofi settle patent infringement suit

Panacea Biotec has settled a patent infringement dispute with Sanofi Healthcare India regarding its fully liquid hexavalent vaccine, EasySix. Sanofi agreed not to launch its Shan6 vaccine in India and will withdraw oppositions against Panacea's patent amendment application. The Delhi High Court disposed of the suit on September 13, 2024.

The Economic Times

Matchmaker turns suitor: Nomura joins three-way race for homegrown investment bank Avendus

Nomura, Japan's largest investment bank, has entered the race to acquire Avendus, a KKR portfolio company. Previously acting as an advisor on the deal, Nomura has now become a potential buyer. Other contenders include Mizuho and Carlyle. KKR is seeking a valuation of ?5,500-6,000 crore for its stake in Avendus.

Business Standard

Strides Pharma Science gets USFDA nod for generic antidepressant tablets

Strides Pharma Science Ltd on Monday said its arm has received approval from the US health regulator for its generic version of antidepressant Fluoxetine tablets. The approval granted by the US Food & Drug Administration (USFDA) to wholly owned subsidiary Strides Pharma Global Pte. Ltd, Singapore, is for Fluoxetine tablets of strength 60 mg, Strides Pharma Science said in a regulatory filing. The product is bioequivalent and therapeutically equivalent to the reference listed drug (RLD), Fluoxetine tablets, 60 mg, of TWi Pharmaceuticals, Inc, it added. The Fluoxetine tablets will be manufactured at the company's facility in Puducherry, Strides said. With the approval of the Fluoxetine Tabs 60 mg strength, the company is now positioned to offer a complete portfolio of Fluoxetine across capsules and tablets in 10 mg, 20 mg, and 60 mg strengths, it added. The addition of the Fluoxetine tablets 60 mg will allow for enhanced flexibility in dosing, catering to a broader spectrum of ...

Mint

Stock Check: Kajaria Ceramics is on a sweet spot amid real-estate revival, says Nuvama; sets record high target price

Stock Check: Nuvama Institutional Equities retains a 'buy' rating on Kajaria Ceramics, raising the target price to ₹1,754. The brokerage anticipates 10–12% volume growth in FY25E, driven by real estate recovery, with projected revenues of ₹6.75 billion from bathware by FY27.

Business Standard

Strides receives USFDA approval for Fluoxetine Tabs 60 mg

Strides Pharma Science announced that its step-down wholly owned subsidiary, Strides Pharma Global, Singapore, has received approval for Fluoxetine Tabs 60 mg, from the United States Food & Drug Administration (USFDA). The product is bioequivalent and therapeutically equivalent to the reference listed drug (RLD), Fluoxetine Tablets, 60 mg, of TWi Pharmaceuticals, Inc.

Business Standard

Veeram Securities Ltd leads losers in 'B' group

KDDL Ltd, Sportking India Ltd, India Shelter Finance Corporation Ltd and Kwality Pharmaceuticals Ltd are among the other losers in the BSE's 'B' group today, 16 September 2024.

The Economic Times

Ambuja Cements shares drop 0.14% as Sensex falls

The stock quoted a 52-week high of Rs 706.85 and a 52-week low of Rs 404.0.

The Economic Times

UltraTech Cement Stocks Live Updates: UltraTech Cement Closes at Rs 11,717.95 with Significant Trading Volume

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Hindustan Times

Trump can only watch as his media stake takes a $4 billion dive

The paper fortune that former President Donald Trump amassed by taking a nascent media startup public is shriveling and a race to exit could shrink it even more

Business Standard

USFDA cites manufacturing lapses at Zydus Lifesciences' Gujarat plant

The US health regulator has pulled up Zydus Lifesciences for manufacturing lapses at its Gujarat-based plant. In a warning letter to company's Managing Director Sharvil Patel, the US Food and Drug Administration (USFDA) noted that the drug maker failed to investigate contamination identified in drug products at its Jarod-based plant in Vadodara district. The USFDA said it inspected the manufacturing facility from April 15 to 23, 2024. "This warning letter summarises significant violations of current good manufacturing practice (CGMP) regulations for finished pharmaceuticals," it added. It further said: "Because your methods, facilities, or controls for manufacturing, processing, packing, or holding do not conform to CGMP, your drug products are adulterated." A warning letter is issued when the US health regulator finds that a manufacturer has significantly violated its regulations. Elaborating on the manufacturing issues at the facility, USFDA noted: "Your firm failed to thorough

The Economic Times

Adani Energy was among top buys for mutual funds in August, ACC top reduction by this MF

Mutual funds bought 1.6 crore shares of Adani Energy Solutions in August, valued at Rs 1,330 crore. Other Adani Group stocks like APSEZ, Ambuja Cements, and ACC also saw mutual fund interest. SBI Mutual Fund was a major buyer of Adani Energy, acquiring 73.73 lakh shares. Tata MF and Nippon MF also purchased Adani Energy shares.

The Economic Times

Tata Technologies to drive aerospace growth amid supply chain crisis, airline cabin refurbishments

Tata Technologies is set to experience significant growth in the aerospace sector due to a supply chain crisis. The company has partnered with major aircraft manufacturers and MRO firms to expedite processes, focusing on cabin refurbishments and productivity improvements. This growth is driven by rising demand for premium seating among leisure travelers.

The Economic Times

​UltraTech Cement, HCL Tech among 5 stocks with short covering​

Short covering occurs when traders repurchase stocks they had borrowed and sold earlier, typically in response to changing market conditions or updated information.

CNBC TV18

Zydus Life arm signs exclusive US licensing and supply pact for MRI contrast agents

Zydus' agreement with Viwit Pharmaceuticals covers the supply of gadobutrol and gadoterate meglumine injections, widely used in MRI procedures to enhance the visibility of internal organs, blood vessels, and tissues. Shares of Zydus Lifesciences Ltd ended at ₹1,118.50, down by ₹1.65, or 0.15%, on the BSE.

Business Standard

India's renewable energy sector fuels hiring boom in race to net-zero goal

The renewable energy sector has experienced a remarkable surge in jobs, with a staggering 23.7 per cent increase in FY24, compared to 8.5 per cent in FY23

Mint

Ambuja Cements share price stays in green even as it faces double blow with customs penalty and CMO arrest

Ambuja Cements, a major player in India's cement industry, is facing a perfect storm of challenges. The company has been hit with a significant customs penalty and its Chief Manufacturing Officer has been arrested on bribery charges.

The Economic Times

ET Startup Awards 2024 jury meeting: An evening to remember

The jury meeting of the tenth edition of The Economic Times Startup Awards 2023 saw high-profile members, led by the chair Nandan Nilekani, sifting through the merits of contenders across eight categories. The intense discussions and multiple rounds of voting was followed by a game of selfies with ace cricketer Shubman Gill

The Economic Times

Ambuja Cements stock price up 0.74 per cent as Sensex slides

As of 30-Jun-2024, promoters held 0.0 per cent stake in the company, while FIIs held 9.58 per cent and domestic institutional investors had 5.53 per cent.

Mint

Can Tata and Adani give Nvidia a run for its money?

Nvidia’s growth in AI and GPU technology contrasts with Indian firms’ nascent semiconductor efforts. Tata and Adani groups are investing in chip manufacturing as India aims to establish a domestic semiconductor ecosystem. But how long will it be before India catches up in the global race?

The Economic Times

Alkem joins $3 bn race for JB Chem as Torrent pauses talks

Alkem Laboratories, India's fifth-largest branded pharmaceutical company, is vying for JB Chemicals and Pharmaceuticals as KKR looks to sell. Torrent Pharmaceuticals has exited negotiations over valuation differences. If successful, this will be Alkem's largest acquisition, enhancing its presence in the chronic segment and potentially moving it to fourth place in the domestic formulations market.

Business Standard

Boeing workers vote on whether to strike, shut down aircraft production

Boeing waited to learn Thursday whether 33,000 aircraft assembly workers, most of them in the Seattle area, are going on strike and shutting down production of the company's best-selling planes. Members of the International Association of Machinists and Aerospace Workers were voting on whether to approve a contract offer that includes 25% pay raises over four years. If the factory workers reject the contract and two-thirds of them vote to strike, a work stoppage would begin Friday at 12:01 a.m. PDT. A walkout would not cause flight cancellations or directly affect airline passengers, but it would be another blow to Boeing's reputation and finances in a year marked by problems in its airplane, defense and space operations. New CEO Kelly Ortberg made a last-ditch effort to avert a strike, telling machinists Wednesday that no one wins in a walkout. For Boeing, it is no secret that our business is in a difficult period, in part due to our own mistakes in the past, he said. Working ...

The Economic Times

Panacea Biotec gets $20 million loan from US government for hexavalent vaccine capacity expansion

Panacea Biotec has secured a $20 million long-term loan from the US International Development Finance Corporation to expand its hexavalent vaccine production. This funding will help the company meet global demand for childhood immunization, supplying vaccines to UN agencies. The hexavalent vaccine, EasySix, protects against six diseases and is expected to see significant demand growth by 2030.

The Economic Times

DFC commits USD 20 mn long-term loan to Panacea Biotec

US International Development Finance Corporation has committed a long-term loan of up to USD 20 million to Panacea Biotec. The funds will help expand the manufacturing capacity for drug substance antigens used in its hexavalent vaccine EasySix, aimed at meeting future demand from UN agencies and public health organisations.

The Economic Times

Ambuja Cements shares gain 0.44% as Sensex rises

The stock quoted a 52-week high of Rs 706.85 and a 52-week low of Rs 404.0.

The Economic Times

Buy Ambuja Cements, target price Rs 801: ICICI Securities

Ambuja Cements Ltd. key Products/Revenue Segments include Cement, Other Operating Revenue and Scrap for the year ending 31-Dec-2021.

Business Standard

BEL rises on bagging orders worth Rs 1,155 cr

Bharat Electronics (BEL) added 1.22% to Rs 289.30 after the aerospace & defense firm received two orders from Cochin Shipyard aggregating to Rs 1,155 crore.