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Business Standard

Sun Pharma signs licensing pact with Philogen for cancer medication

Sun Pharmaceutical Industries on Tuesday said it has inked a global licensing pact with Italian-Swiss firm Philogen for an anti-cancer drug. As per the agreement, Sun Pharma will have the exclusive worldwide rights to commercialise Fibromun, a speciality product of Philogen. Fibromun, an innovative anti-cancer immunotherapy, is being investigated in registration trials by Philogen for the treatment of soft tissue sarcoma and glioblastoma. As per the pact, Philogen will complete the ongoing pivotal clinical trials for the product, pursue marketing authorisation with regulatory authorities, and manufacture commercial supplies, the Mumbai-based drug major said in a statement. Sun Pharma will be responsible for commercialisation activities, it added. The two partner companies will share post-commercialisation economics in about 45(Philogen):55(Sun Pharma) ratio, Sun Pharma said. The company did not disclose other financial terms. "Fibromun's progress through development has been qui

Business Standard

Govt to launch another PLI scheme for speciality steel, says steel secy

The government is working on the another round of the PLI scheme for speciality steel as the response for the first round of the initiative did not meet expectations, according to Steel Secretary Sandeep Poundrik. The top ministry official made the remarks at CII Steel Summit 2024 in the national capital on Friday. In his address, Poundrik said speciality steel is still one area where more is needed to be done. The government brought a PLI to incentivise specialities steel but the offtake was not as expected. "So we are bringing another round of PLI so that we can get more interest in the speciality steel business," he said. Later speaking to PTI, the secretary said the government had launched Rs 6,400 crore PLI Scheme for speciality steel, out of that only Rs 2,600 crore could be allocated. Speciality steel is high grades used in sectors like defence, automobile, and electrical among others.

The Economic Times

Speciality restaurants plans big push in three years

Speciality Restaurants, India's first publicly listed restaurant company, plans to open 40-50 new outlets in the next three years. The expansion will focus on its Mainland China and Oh! Calcutta brands, both in India and abroad. Currently, the company operates 97 restaurant outlets and 32 confectionery outlets.

The Economic Times

Speciality restaurants to expand through 40-50 new outlets in the next three years

Speciality Restaurants, India's first publicly listed restaurant company, plans to open 40-50 new outlets in the next three years. The expansion will focus on its Mainland China and Oh! Calcutta brands, both in India and overseas. The company currently operates 97 restaurant outlets and 32 confectionery outlets.

The Economic Times

Here's why Sumit Gupta is bullish on diagnostic sector

So, in the largecap space, we like Sun Pharma, so due to the speciality, generic portfolio that it has, and overall best placed in terms of valuation also. So, as of now, we see Sun Pharma is a safe bet. And apart from that in the midcap, we like JB Chemicals.

Business Line

Himadri Speciality Chemical aims to increase carbon black market share to 18% by FY26-end

To expand total carbon black production capacity to around 2,50,000 MTPA by the end of the next fiscal with a brownfield expansion

Business Standard

Paramount Speciality Forgings IPO subscribed nearly 69 times on last day

The initial public offer of Paramount Speciality Forgings got subscribed by 68.7 times on the last day of subscription on Friday. The Rs 32.34-crore public offer of Paramount Speciality Forgings received bids for 26,96,40,000 shares, as against 39,22,000 shares, according to the NSE SME data. The category for Non Institutional Investors received 220.54 times subscription, while the Retail Individual Investors (RIIs) portion garnered 41.29 times subscription. The Qualified Institutional Buyers quota was subscribed 20.87 times. The initial public offering (IPO) of Paramount Speciality Forgings comprises a fresh issue of 48.02 lakh equity shares and an Offer-for-Sale (OFS) of up to 6.8 lakh shares by promoters. As part of the OFS, Aliasgar Roshan Hararwala, Aliasgar Abdulla Bhagat, Mohammed Salim Hararwala, Abdulla Aliasgar Bhagat, Hoozefa Saleem Hararwala, Abbasali Salim Hararwala, Zahid Mohamadi Hararwala and Roshan Alihusain Hararwala have offloaded their shares. The Mumbai-based

Business Line

Himadri Speciality Chemical expects to commission Odisha plant in FY27

Plans 2 more plants for lithium iron phosphate

Mint

Paramount Speciality Forgings IPO Day 1: Check for Subscription status, GMP, key dates, all you need to know

Paramount Speciality Forgings IPO: The offer opened for subscription on 17 September' 2024 and closes on 20 September'2024. Check for Subscription status, GMP, key dates, all you need to know

Mint

Upcoming IPO: Quadrant Future Tek gets SEBI nod to launch ₹275 crore IPO

Quadrant Future Tek Limited has received final observation from SEBI to raise ₹275 crore through an IPO. Founded in 2015, the firm focuses on rail safety technologies and speciality cables for defense and rail sectors. Revenue rose by 46.56% in FY 2023, driven by increased sales.

The Economic Times

Paramount Speciality Forgings IPO: Check issue size, price band, GMP and other details

Paramount Speciality Forgings will launch its SME IPO, aiming to raise Rs 32 crore. The IPO includes a fresh equity sale and an offer for sale, with shares priced at Rs 57-59 each. The funds will be used for working capital and corporate purposes. The issue closes on September 19, with listing expected on September 24.

Business Standard

Strides Pharma gets shareholders' nod to set up speciality pharma CDMO

Strides Pharma Science on Wednesday said it has received approval from shareholders and secured creditors for creation of OneSource -- a specialty pharma CDMO (contract development and manufacturing organization). The company has secured the approval of its shareholders and secured creditors with overwhelming majority, along with those of OneSource Specialty Pharma and SteriScience Specialties, in meetings convened under the guidance of the National Company Law Tribunal, it said in a regulatory filing. All the secured creditors who voted on the scheme for the three companies in their respective meetings were in favour of the scheme, it added. "We believe OneSource will unlock considerable value for Strides' stakeholders upon its listing. We remain committed to delivering on this promise and express our gratitude to our shareholders and creditors for their continued trust and support," Strides Pharma Science Executive Chairperson Arun Kumar said. In September 2023, Strides announced

CNBC TV18

Strides Pharma gains over 2% on shareholders' nod for speciality CDMO unit

The stock opened higher at ₹1359.45 a piece on BSE before rising to hit the intraday high of ₹1382.90. At this level, the stock traded not too far from its 52-week high of ₹1,394.95 per share, recorded last week on Friday, September 6.

Business Line

Restaurant sector expected to turn around after tough Q1: Speciality Restaurants CMD

The company is now focussing on profitable growth while expanding its footprint

Business Standard

Restaurant sector to turn around after tough Q1: Speciality Restaurants CMD

The restaurant industry is expected to turn around on the back of India's overall strong fundamentals after facing temporary headwinds such as high food inflation and people dining out less that hurt the sector in the first quarter, according to Speciality Restaurants Ltd CMD Anjanmoy Chatterjee. The company, which has a slew of brands such as Mainland China, Asia Kitchen by Mainland China, Episode One, Haka, and Sweet Bengal, among others and shut 29 outlets during the pandemic, is now focussing on profitable growth while expanding its footprint. "It should be clear that India not eating out or inflation not settling down is something which I don't believe in. India is better than many more countries...," Chatterjee told PTI. He was responding to a query on how long factors such as high food inflation and people dining out less after the diminishing of 'revenge eating' post pandemic that affected the restaurant industry, will continue to impact the sector. "It is a short-term ...

The Economic Times

Restaurant sector expected to turn around after tough Q1: Speciality Restaurants CMD

Speciality Restaurants Ltd CMD Anjanmoy Chatterjee believes India's restaurant sector will recover despite recent challenges like high food inflation and reduced dining out. He cites strong national fundamentals and anticipates improvement as inflation decreases. The company aims for profitable growth and expansion, focusing on brands like Mainland China and Episode One.

Business Line

Speciality coffee Blue Tokai raises $35 million in funding round led by Verlinvest

Existing investors Anicut Capital and A91 Partners also participated in the funding round

The Economic Times

Firms seek expansion of speciality steel products covered under PLI 1.1

Speciality steel manufacturers are advocating for the inclusion of value-added products like wires, bright bars, and stainless-steel components for defence in the upcoming version of the production-linked incentive (PLI) scheme. The government has initiated discussions on broadening the PLI scope, with industry submissions expected soon. Major steel companies participated in a recent meeting to provide inputs.

Mint

Himadri Speciality Chemical Q1 Results Live : profit rise by 42.33% YOY

Himadri Speciality Chemical Q1 Results Live : Revenue increased by 26.24% YoY & profit increased by 42.33% YoY

Business Line

Himadri Speciality Chemical Q1 net jumps 42.6% to ₹122.78 crore

Revenue for Q1-FY25 grew 26.24 per cent y-o-y to ₹1,200.41 crore

Business Standard

Himadri Speciality Q1 results: PAT jumps 40% to Rs 123 cr, Ebitda up 43%

Himadri Speciality Chemical Ltd (HSCL) on Tuesday reported a 40 per cent year-on-year jump in net profit to Rs 123 crore in the first quarter of the current fiscal and said it will retain the traction for the year backed by volume and margin growth. EBITDA increased by 43 per cent year-on-year to approximately Rs 188 crores in Q1FY'25, up from Rs 131 crore in the corresponding quarter of the previous fiscal year. Sales also jumped to Rs 1200 crore during the quarter expanding by 26 per cent. "We have posted robust growth in sales and profitability driven by our value-added speciality products in both coal tar, speciality oils and speciality carbon black. The traction will continue due to various factors," Anurag Choudhary, CMD & CEO of Himadri Speciality, told PTI. Explaining the factors, he said Himadri being the leader with 65 per cent market share in coal tar pitch and remains one of the cheapest producers in the segment, there is no Chinese threat unlike other chemical ...

Mint

Multibagger Himadri Speciality Chemical stock hits 5% upper circuit after company's net profit jumps 43% YoY

Shares of Himadri Speciality Chemical surged by 5% to hit the upper circuit limit after reporting Q1FY25 results showing a 43% growth in net profit. Revenue from operations increased by 26.8%, with a significant surge in revenue from carbon materials and chemicals.

Business Standard

Sanstar's IPO to open on July 19; sets price band at Rs 90-95 per share

Plant-based speciality products company Sanstar Ltd on Monday said it has fixed a price band of Rs 90 to 95 a share for its Rs 510-crore Initial Public Offering (IPO). The initial share sale will open for public subscription on July 19 and conclude on July 23, the Ahmedabad-based company announced. The IPO is a combination of a fresh issue of 4.18 crore shares and an Offer For Sale (OFS) of 1.19 crore shares by selling shareholders. At the upper end of the price band, the IPO size is pegged at Rs 510.15 crore. Proceeds from the fresh issue to the tune of Rs 181.55 crore will be utilised to fund the capital expenditure requirement for the expansion of the company's Dhule facility, Rs 100 crore for debt payment and a portion will also be used for general corporate purposes. Sanstar is one of the major manufacturers of plant-based speciality products and ingredient solutions in India. The company's speciality products and ingredients add taste, texture, nutrients and increased ...

Business Standard

Privi Speciality Chemicals proposed expansion project update

Receives incentives under Govt. of Maharashtra's Package Scheme of Incentive Policy