Stocks to Watch: Check out the companies making headlines before the opening bell.
Hero MotoCorp: Hero MotoCorp to collaborate with US-based electric motorcycles and powertrains manufacturer. The company is finalising a collaboration agreement with Zero Motorcycles, a California-based manufacturer of premium electric motorcycles and powertrains. The collaboration will focus on co-developing electric motorcycles. The company’s board also approved an equity investment up to $ 60 million in Zero Motorcycles.
Lupin: Lupin receives US FDA nod for Mirabegron tablets. The pharma company has received approval from the United States Food and Drug Administration (FDA) for its abbreviated new drug application (ANDA), Mirabegron extended-release tablets, to market in the US. Mirabegron is a generic equivalent of Myrbetriq extended-release tablets of Astellas Pharma Global Development, Inc. The product will be manufactured at Lupin’s facility in Nagpur. The drug had estimated annual sales of $ 2,403 million in the US as per IQVIA MAT data by June 2022. The drug is used for treatment of certain bladder problems.
Punjab National Bank: Punjab National Bank to sell entire stake in Asset Reconstruction Company (India) Ltd (ARCIL). The public sector bank has decided to sell its entire stake in ARCIL at an agreed price. Its shareholding in ARCIL is 10.01% as of now.
Rail Vikas Nigam: Rail Vikas Nigam bags contract for construction of 4 lane highway in Andhra Pradesh. The company has received contract for construction of 4 lane highway from Samarlakota to Achampeta Junction, from National Highways Authority of India (NHAI). The contract is a part of Kakinada port to NH – 16 connectivity in Andhra Pradesh under Bharatmala Pariyojana in EPC (engineering, procurement and construction) mode at a cost of Rs 408 crore.
Ircon International: Ircon International commissions Hajipur-Bachhwara doubling project. The public sector enterprise has completed commissioning of doubling work of Hajipur- Bachhwara of 72 route km including electrification. Ircon was appointed by East Central Railways for this work.
Tata Communications: Tata Communications launches Private 5G Global Centre of Excellence in India. The company launched private 5G global Centre of Excellence in Pune to accelerate Industry 4.0 applications and capabilities for enterprises.
SRF: SRF commissions facility to produce 300 million tonne per annum (mtpa) of P38 at Dahej. The company has commissioned its facility to produce 300 mtpa of P38 at Dahej. The aggregate cost of the project is Rs 58 crore. The board had given its approval for the project in January 2022.
NIBE: NIBE bags multiple orders worth Rs 21.95 crore. The company has received multiple orders towards supply of material and services from Larsen & Toubro. The orders, which are worth Rs 21.95 crore, will be executed within six to seven months.
Bhageria Industries: Bhageria Industries to divest 100% stake in subsidiary Bhageria Exim. The company said it has entered a share purchase agreement for sale of 100% equity shares held in subsidiary Bhageria Exim Pvt Ltd for Rs 1 lakh. After the stake sale, Bhageria Exim will cease to be the wholly owned subsidiary of the company.
Arvind SmartSpaces: Arvind SmartSpaces to consolidate partnership interest in Ahmedabad East Infrastructure LLP. The company said the board of directors has approved consolidation of the partnership interest of the company in Ahmedabad East Infrastructure LLP (AEI LLP) from 51.43% to 55.24% and profit sharing in AEI LLP from 94.25% to 98.00% upon acquisition of entire partnership interest of Arvind Infrabuild LLP (AILLP) in AILLP.
Wardwizard Innovations & Mobility: Wardwizard Innovations & Mobility CFO resigns. Sneha Harshavardhan Shouche has tendered her resignation from the post of Chief Financial Officer of the company. The company has accepted her resignation and she will cease to be the CFO with effect from October 7.
Moneycontrol News
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