India’s stock market ended Tuesday at new lifetime highs amid a broadly firm trend in other Asian markets and continued inflows of foreign funds. Sensex gained 177.04 points to finish at 62,681.84, his new closing high. The index rose 382.6 points to its lifetime high of 62,887.40. Nifty advanced 55.30 points or 0.30% to close at 18,618.05, its new closing high.
Here’s a look at the stocks that should stay in the news today.
Wipro: BNP Paribas Arbitrage has sold over 18,00,164 lakh shares at an average price of Rs 405 each for Rs 72.9 crore through an open market transaction, according to block deal data available with BSE. Societe Generale bought back the shares of the company.
British Industries: The biscuit and dairy maker has signed a joint venture with Bel SA of France and Britannia Dairy to develop, manufacture and sell cheese products in India and other markets.
Quote: The pharmaceutical firm has launched Leuprolide Acetate Injection Depot 22.5mg, used in the treatment of prostate cancer. The product was previously approved by the United States Food and Drug Administration based on a New Drug Application (NDA) regulatory pathway.
Biocon: The pharmaceutical company said its Biocon Biologics unit has completed the multi-billion dollar acquisition of the global biosimilars business from its partner Viatris. In February 2022, Biocon Biologics signed an agreement to acquire the biosimilars business of Viatris Inc for consideration of up to $3.33 billion.
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GlandPharma: The drugmaker has signed a put option agreement to acquire Europe-based Cenexi Group for up to 120 million euros, marking its foray into international markets. Gland Pharma International PTE has entered into a “put option agreement” to acquire 100% of the Cenexi group.
Stainless steel wind: The wind energy solutions provider said the company and its Inox Green Energy Services arm had paid debts of Rs 411 crore. Inox Wind, its subsidiary Inox Green Energy Services, as part of the strategic initiative to deleverage their respective balance sheets, recently paid Rs 250 crore and Rs 161 crore for debt reduction.
Kilpest India: The pesticide player’s subsidiary named 3B BlackBio Biotech India has signed a non-binding letter of intent to acquire 100% of a European-based life sciences manufacturer. A 60-day exclusivity period has been agreed between the parties to complete the due diligence.
Green Panel Industries: The plywood and laminates company said its board had approved the liquidation of wholly-owned subsidiary Greenpanel Singapore Pte Ltd. The board also approved the write-off of the investment in the subsidiary to the extent of the impairment of the asset due to the subsidiary’s accumulated losses.
