Aniket PujariHere’s a quick look at stocks likely to be in focus in today’s trade.
Bajaj Auto
The Board has extended Rajivnayan Rahulkumar Bajaj’s tenure as Managing Director and Chief Executive Officer for another five years, starting April 1. Additionally, Abhinav Bindra has been appointed as a Non-Executive Independent Director for a five-year term, effective May 20. The Board also approved an additional investment of up to ₹1,500 crore into its subsidiary, Bajaj Auto Credit, to be disbursed in one or more installments.
Hero Motocorp
Hero MotoCorp has announced a joint venture with Germany’s Schmiedetechnik Plettenberg GmbH & Co. KG to produce forged powertrain components in India for international markets.
Zydus Lifesciences
The pharmaceutical company has obtained final approval from the U.S. Food and Drug Administration (FDA) to produce 60 mg Apalutamide tablets. Apalutamide, an androgen receptor inhibitor, is prescribed for treating patients with metastatic castration-sensitive prostate cancer. According to IQVIA data, Apalutamide tablets (brand name Erleada®) had estimated annual sales of $1,185.5 million in the U.S. as of July 2023.
Larsen & Toubro
Larsen & Toubro (L&T), a leading infrastructure company, has scheduled a board meeting for March 27, 2024, to discuss potential fundraising options, including the issuance of debt.
Bharti Airtel
Bharti Airtel‘s shareholders have approved, via remote e-voting, the sale of its passive infrastructure assets to its subsidiary, Indus Towers.
GR Infraprojects
G R Infraprojects Limited has received a Letter of Acceptance from the National Highways Authority of India (NHAI) for a project valued at ₹4,262.78 crore.
Hindustan Zinc
Hindustan Zinc Ltd (HZL) has been fined ₹5.37 lakh each by the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) for not complying with SEBI’s regulations regarding the number of independent directors on its board.
Life Insurance Corporation of India
Life Insurance Corporation of India (LIC) has clarified recent media reports suggesting its entry into the health insurance sector. The corporation stated that it is in advanced discussions to acquire a significant stake in a standalone health insurance company to expand its presence in the health insurance market. However, no binding agreement has been finalized yet. The completion of any potential deal is contingent upon regulatory approvals, and there is no assurance that the transaction will be executed or concluded.
Dr Reddy’s Laboratories
Dr. Reddy’s Laboratories and Alvotech have announced that the U.S. Food and Drug Administration (FDA) has accepted a 351(k) Biologics License Application (BLA) for AVT03, a biosimilar candidate to Prolia (denosumab) and Xgeva (denosumab), developed by Alvotech.
Bharat Petroleum Corporation
In a landmark move towards sustainable aviation, Bharat Petroleum Corporation Limited (BPCL) has signed a four-party Memorandum of Understanding (MoU) with BluJ Aerospace, the Agency for New and Renewable Energy Research and Technology (ANERT), and Cochin International Airport Limited (CIAL). This collaboration aims to establish the world’s first hydrogen-fueled Vertical Take-off and Landing (VTOL) aircraft ecosystem.
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