Panchkula-based Venus Remedies, 6 December, announced that it has received marketing approval from the Philippines and Saudi Arabia for three oncology drugs. In its regulatory filing, the company said that it had received regulatory approval from the second largest market in the Association of Southeast Asian Nations (ASEAN) region, Philippines, for its chemotherapy drug paclitaxel and zoledronic acid. The company has also secured marketing authorisation for its other oncology drug, bleomycin, from Saudi Arabia, the largest pharmaceutical market in the Gulf Cooperation Council region. The phar ..read more

Shares of Sapphire Foods were trading in the red and 1.5% lower on 6 December after the company promoter entity offloaded a 4.2% stake in the company. The promoter of the company, Arinjaya, divested a 4.2% stake in the restaurant operator for Rs 378 crore through a bulk deal; Arinjaya Ltd offloaded 27 lakh shares in the company for an average price of Rs 1,400.01 per share, taking the transaction value to Rs 378 crore. Arinjaya Ltd reduced its stake in Sapphire Foods from 7.99% to 9.79%. According to the 30 September shareholding data, the company’s other promoter, Sapphire Foods Mauritius, ho ..read more

Shares of Himadri Speciality hit a 52-week high of Rs 307 on 6 December after it received approval from the Board of Directors to set up a manufacturing facility for the producing Lithium-ion Battery (LiB) components. In its regulatory filing, the company said, “The Board of Directors at its’ meeting held on 5 December, 2023, has approved setting up of the manufacturing facility for the production of Lithium-ion Battery (LiB) components with total annual production capacity of 200,000 million tonnes (MT) either directly and/or through its subsidiaries with an estimated project cost of Rs 4,800 ..read more

Hero Motocorp, on 6 December, announced its partnership with Ather Energy for an interoperable fast-charging network in India. In its regulatory filing, the company said that through this collaboration, EV users will be able to utilise both Ather Grids and VIDA across the country. The combined charging network will cover 100 cities with over 1,900 fast charging points. This is not the first-ever interoperable fast-charging network for two-wheelers in India, but anywhere in the world. This interoperable network will accelerate EV adaptation in India by strengthening the overall segment and prom ..read more

Shares of HCL Technologies were trading in the green and 1.7% higher on 6 December after the company signed a five-year agreement with Swedish manufacturer Husqvarna Group for a strategic digital transformation partnership through artificial intelligence-based solutions. In its regulatory filing, the company said, “In a major milestone for HCL Technologies, this is the first time a large global IT contract by an India- headquartered technology company has been Vested certified.” Husqvarna Group is a global manufacturer of outdoor power and watering products, power tools, and cutting equipment ..read more

Shares of Zydus Lifesciences, on 6 December, announced that it had received final approval from the USFDA (United States Food and Drug Administration) for manufacturing and marketing Methylene Blue Injection, available in 10mg/2ml and 50mg/5ml variants. The Methylene Blue Injection is the generic equivalent to the Reference Listed Drug (RLD) ProvayBlue Injection. Methylene Blue Injection is an oxidation-reduction agent that is used for treating paediatric and adult patients with acquired methemoglobinemia. The product had an annual sales of around $73.4 million in the US as of October 2023. Dr ..read more

Shares of Ion Exchange were trading in the green and 3% higher on 6 December after the company received a positive verdict in an arbitration case filed by Ethigen Inc. Ethigen Inc. has filed an arbitration claim of $1.8 million or Rs 149.56 crore for damages against Ion Exchange, alleging wrongful termination and breach of terms of the agreement. The International Chamber of Commerce tribunal has delivered the arbitration award by rejecting Ethigen’s claim for damages against Ion Exchange and also rejecting all other claims and requests of the parties. Ion Exchange reported a combined operatin ..read more

Shares of Ashok Leyland were trading in the green and 1% high on 6 December after the company raised its stake in Optare Plc UK for about Rs 662 crore. In its regulatory filing, the company now holds a 92.20% stake in Optare Plc, UK, from its previous holding of 91.63%. Optare Plc, UK, is in the business of manufacturing and selling commercial vehicles and is the holding company of Switch Mobility Limited and Switch Mobility Automotive Limited, which is a subsidiary of the company. Optare reported a consolidated revenue of Rs 230 crore as of March 2023. The reason behind increasing the stake i ..read more

Shares of Hindustan Zinc hit a 52-week high of Rs 332 on 6 December after the company announced the second interim dividend of Rs 6 for the current fiscal year. In its regulatory filing, the company said, “The board has approved the second interim dividend of Rs 6 per equity share i.e. 300 percent on the face value of Rs 2 per share for FY 2023-24 amounting to Rs 2535.19 crore.” The company has set 14 December 2023 as the record date to determine the eligibility for the second interim dividend. Earlier in June, the company had declared the first interim dividend of Rs 7 per share. During the p ..read more

State Bank of India (SBI), on 5 December, announced its desire to acquire a 20% stake in SBI Pension Funds, which is held by SBI Capital Markets. The company already owns a 60% stake in SBI Pension Funds, and with the successful completion of this transaction, the company will hold an 80% stake in the same. The remaining 20% stake in SBI Pension Funds is held by SBI Funds Management. It is set to do the acquisition for a total consideration of Rs 229.52 crore. In its regulatory filing, the company said the Reserve Bank of India (RBI) and the Pension Fund Regulatory and Development Authority (P ..read more