Stocks in Focus: Last week, the 30-share BSE Sensex saw a rise of 1027.54 points or 1.21 percent. On Friday, the Sensex had touched its all-time high of 85,978.25 points. On the other hand, it has closed at the level of 26,178.95. Talking about foreign portfolio investors (FPIs), they have infused Rs 57359 crore into the Indian stock markets so far in September, which is the highest in the last 9 months. With this, now investors are ready for trading in the new week. Tata Motors, Reliance Industries and Lupine are among the key stocks that will be in focus when trading opens on September 30.
The Ministry of Corporate Affairs has approved the incorporation of “BEL IAI Aerosystems Private Limited”, a joint venture company between Bharat Electronics Limited and Israel Aerospace Industries Limited on 25 September 2024.
The Board of PNB has approved the allotment of 48,19,27,710 equity shares to eligible institutional buyers at an issue price of ₹103.75 per equity share, aggregating to about ₹5000 crore.
The US FDA has completed its inspection of Biocon Biologics’ insulin facility in Johor Bahru, Malaysia. There were no observations related to data integrity, systematic deficiencies or quality neglect in any of the units noted by the agency during the inspection.
Radico Khaitan has launched the new edition of Rampur Indian Single Malt Whiskey – Barrel Blush at Whiskey Live Paris 2024. The Indian IMFL maker said that the latest edition will soon be available across Europe, the UK and the US.
Reliance Industries Limited (RIL) on Saturday, September 28 said that the Ministry of Information and Broadcasting, Government of India has approved the transfer of the license of non-news and current affairs television channels of Viacom18 Media Private Limited to Star India Private Limited. This approval has been given as per the conditions laid down by the Competition Commission of India (CCI). This decision is part of the strategy of forming joint ventures between Reliance and Disney. Reliance Industries Limited further said that the government gave this approval through an order issued on September 27.
Tata Motors held the foundation stone laying ceremony of its new vehicle manufacturing facility in Tamil Nadu. The state-of-the-art, greenfield plant will use 100% renewable power to produce next generation vehicles for the Indian and global markets. This is expected to create more than 5000 employment opportunities.
Mumbai-based pharmaceutical company Lupine informed the exchanges that the US FDA inspected the company’s Pithampur Unit-1 API and finished product manufacturing facility from September 16 to September 27, 2024. The inspection concluded with three observations each on the API and finished product sides.
Veteran insurance company LIC has reduced its stake in the equity shares of Mahanagar Gas from 89,19,236 to 68,54,264. This means that LIC’s stake in the company has now reduced from 9.030% to 6.939%.
Pharma firm Zydus Lifesciences has received final approval from the USFDA to manufacture 40 mg enzalutamide capsules. Enzalutamide capsules are androgen receptor inhibitors for the treatment of patients with metastatic castration-resistant prostate cancer. Enzalutamide capsules will be produced at the group’s manufacturing site in Moraiya, Ahmedabad.
HDFC Life Insurance Company
HDFC Life Insurance to raise ₹1500 crore through non-convertible debentures (NCDs). The company’s board approved this plan on Friday. The company will issue ₹1,000 crore in NCDs, with an option to raise an additional ₹500 crore through a greenshoe option, all on a private placement basis.
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