Stock Market Snapshot 13 June 2024

Kotak Mahindra Life Insurance Company Ltd announced its corporate agency partnership with Mahindra & Mahindra Financial Services Limited.

USFDA conducted a Pre-Approval Inspection and a GMP inspection at Torrent Pharmaceutical’s Manufacturing facility situated in lndrad, Gujarat. At The end of the inspection, the Company was issued a Form 483 with 5 (five) observations.

Dr. Reddy’s Laboratories stepdown subsidiary Dr Reddy’s Laboratories Inc and US-based lngenus Pharmaceuticals LLC have entered into a licensing Agreement to commercialise cancer drug Cyclophosphamide injection.

India’s CPI inflation eased to a 12 month low in May 2024 at 4.75% .

Whirlpool of India joins hands in a new marketing alliance with Surf Excel, a leading brand of Hindustan Unilever Ltd to transform and enhance the laundry experience for consumers in India.

Saksoft has executed a Share Purchase Agreement to acquire 100% equity interest in Augmento Labs Pvt Ltd.

Muthoot Capital: The Debenture Issue and Allotment Committee has approved the allotment of 10,000 NCDs each having a face value of Rs 1 lakh each Aggregating to Rs100 crores for a tenor of 24 months on private placement basis.

Gensol Engineering Ltd emerged as a successful bidder for Gujarat Urja Vikas Nigam Ltd’s 250 MW (500 MWh) Battery Energy Storage Project worth Rs. 1,340 crore.

Arvind: Strike has been called off by the workers and operations of the Company at Santej Plant which Were partially impacted due to strike are getting to Normalcy. The company has estimated potential loss of revenue of around Rs 180-200 crore (about 2% of consolidated revenue of FY 2024) and reduction in EBIDTA of about Rs 60-65 crores (about 7% of consolidated EBIDTA of FY 2024).

Amber Enterprises has increased its stake in IL JIN Electronics (India) Pvt Ltd to 90.2% from 85.6%.

Bondada Engineering bags an order of Rs 939 crore from NLC India Ltd.

Exide Industries has invested Rs 75 crore by way of subscription in the equity share capital of its wholly owned subsidiary, “Exide Energy Solutions Ltd” on rights basis.

Tata Power strengthens its nationwide e- bus charging network with high-capacity fast charging points. 2300+ e-buses powered through 850+ bus charging points across Delhi, Mumbai, Bengaluru, Ahmedabad, Goa, Jammu and Srinagar.