Stocks in the news: Lupin, Biocon, PNB, Lauras Labs, PTC India and SJVN

: The USFDA has issued 8 observations for the drug product facility and API facility at Mandideep. The US drug regulator has inspected company’s Mandideep unit-1 facility during November 14-23, 2022.

: The biotechnology major’s subsidiary Biocon Biologics has allotted equity shares worth Rs 2,205.63 crore to it as part of an equity infusion to fund the latter’s acquisition of Viatris Inc’s biosimilars business. In February, Biocon Biologics inked a pact to acquire Viatris Inc’s biosimilars business for consideration of about $3.34 billion.


: The state run lender has received approval of DIPAM, Ministry of Finance, for divestment of stake in

in single or multiple tranches. It holds 15.22 per cent stake in .


Laurus Labs: The pharma company has entered into share subscription agreement and shareholders’ agreement with Ethan for buying 26 per cent stake in Ethan Energy India. This will enable the company to consume 100 percent of the solar energy to be supplied by Ethan Energy India from their 10 MW solar energy plant.


PTC India: The power trading solution provider’s consolidated net profit more than trebled to Rs 157.11 crore in the March 2022 quarter, mainly due to lower expenses. The consolidated net profit of the company was Rs 49.77 crore in the quarter ended March 31, 2021.


Tube Investments of India: The auto ancillary company will pick 50 perc ent stake in X2Fuels and Energy, a start-up company engaged in developing processes to convert waste to liquid/solid fuels, for Rs 6.15 crore. Tube Investments has signed shares’ subscription agreement with X2Fuels and Energy, and its founders.

SJVN: The state-run utility player said it has commissioned a 75 MW solar power project at Parasan Solar Park in Uttar Pradesh. With the 75 MW Parasan Solar Power Project achieving commercial operation, the power producer’s installed generation capacity stands at 2,091.5 MW.

: The metal pipe manufacturer has completed the setting up of its 15 ton electric melting furnace and the commercial production from the same will commence from November 25, 2022. This will increase the company’s production of MS billets from the current 95,832 MTPA to 1.04 lakh MTPA.


Veranda Learning Solutions: IIM Raipur is collaborating with Veranda Learning Solutions, and the Society for Human Resource Management (SHRM) to launch an Executive Post Graduate Programme (online MBA) in HR management.

: The company board has approved issuance of 57 lakh fully convertible equity warrants which can be subscribed at Rs 692 apiece to promoters, non-promoters and qualified institutional buyers. The company has also issue 3 lakh equity shares at Rs 692 apiece to non-promoter shareholders.


: The smallcap IT services player will trade ex-stock split on Friday as the company has decided split its shares with a face value of Rs 10 each into two shares with a face value of Rs 5 each.

: The packaged Foods player’s promoter Hiteshkumar Gaurishankar Patel has purchased 3,94,732 equity shares of the company via open market, increasing his shareholding to 49.37 per cent in the company.