Stocks In the News: Check out the companies making headlines before the opening bell
Sun Pharmaceutical Industries: US Subsidiary acquires subsidiary companies of Galderma in the US, Japan and Canada. Subsidiary Taro Pharmaceuticals USA Inc has completed acquisition of subsidiary companies of Galderma. The acquired subsidiaries of Galderma included Galderma Holdings Inc which is incorporated in Delaware, Proactiv YK which is incorporated in Japan, and The Proactiv Company Corporation which is incorporated in Canada.
Bharat Forge: Subsidiary forms a JV with Dastan Transnational Corp. The auto ancillary company said its subsidiary Kalyani Strategic Systems (KSSL) has incorporated a joint venture company – Sagar-Manas Technologies (SMTL), with open joint stock company Dastan Transnational Corporation. The joint venture will help the company to participate in joint upgradation and manufacturing/ providing solutions for marine and defence products. Dastan, a Kyrgyzstan entity, is a leading multipurpose enterprise engaged in the development, manufacturing, sale of defence equipment, electronic devices, medical centrifuges, etc. KSSL will hold 51 percent stake and the balance 49 percent will be held by Dastan in SMTL.
Bafna Pharmaceuticals: Promotor to offload stake. Promoter SRJR Life Sciences LLP will sell 99,357 equity shares or 0.42 percent stake in the company through open market transactions. The purpose of this stake sale, which will start from March 9, is to achieve minimum public shareholding.
HIL: CFO resigns. The fibre cement roofing manufacturer said KR Veerappan has resigned as chief financial officer.
Atul: Expansion project completed. The chemical company has completed expansion of its sulphur black manufacturing capacity to 26,000 tonnes per annum, from 9,800 tonnes per annum earlier. The plant will produce both, liquid as well as powder formulations.
GR Infraprojects: Shares offloaded by Smallcap World Fund Inc. Smallcap World Fund Inc sold 6,10,131 equity shares in the company via open market transactions. These shares were sold at an average price of Rs 1,280 per share.
ISGEC Heavy Engineering: Received large order from Shree Cement. The company has bagged a large order for cement waste heat recovery boilers from Shree Cement in Nawalgarh, Rajasthan. The scope of work includes designing, manufacturing, and supplying of PH boiler in the pre heater exhaust and AQC boiler in the cooler exhaust. The current order for the Nawalgarh site will be the third project that Isgec has received from Shree Cement.
Zydus Lifesciences: US subsidiary to sell BridgeBio’s Nulibry (Fosdenopterin) for injection. Zydus’ US-based biopharmaceutical arm Sentynl Therapeutics Inc has executed an asset purchase agreement for sale of BridgeBio’s Nulibry (Fosdenopterin) for injection. Nulibry is approved by the US Food and Drug Administration (USFDA) to reduce the risk of mortality in patients with molybdenum cofactor deficiency (MoCD) Type A, an ultra-rare, life-threatening paediatric genetic disorder.
Yasho Industries: Board to consider Capex. The company said its board on March 16 will consider capital expenditure for new greenfield project for the capacity of 15,500 metric tonne per annum at Bharuch, Gujarat.
Moneycontrol News
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