1 / 12Auto Stocks | Indian automakers will be in focus today as they will be reporting sales figures for the month of February. You can read more about the expectations here.
2 / 12Bharti Airtel | Chairman Sunil Bharti Mittal, in an exclusive conversation with CNBC-TV18 said that the company is looking at an Average Revenue Per User (ARPU) of ₹300 by the end of financial year 2025. He is hopeful of starting with an ARPU of ₹250 this financial year. He further said that SATCOM is an exciting area and they are excited to start operations in Gujarat. On the content front, Mittal said that they will partner with content providers but not get into content themselves.
3 / 12Vedanta | Supreme Court rejects plea to reopen Sterlite Copper smelter at Tuticorin.
4 / 12Biocon | Biocon Biologics signed a settlement and license agreement with Janssen Biotech Inc. and Johnson & Johnson that clears the way to commercialise Bmab 1200, a proposed biosimilar to Stelara in the US market. The agreement licenses the company to launch in the US in February 2025, once approved by the USFDA. The regulator has accepted the Biologics License Application for review. Stelera is a monoclonal antibody medication preventing the abnormal regulation of interleukin associated immune diseases and has been approved for the treatment of psoriasis, Crohn's disease ulcerative colitis, plaque psoriasis and psoriatic arthritis. Stelara had sales of $7 billion in the US market in 2023. Additionally, The USFDA has also issued a form 483 with four observations for Biocon Biologics' facility, which it inspected between February 20-28, 2024.
5 / 12Suven Pharma | Board approves merger of Cohance Lifesciences with itself. Cohance shareholders to get 11 equity shares of Suven for every 295 held. The merged entity will have three segments, Pharma CDMO, Specialty Chemical CDMO and CPI. The merged entity will also add an antibody drug conjugate segment. The proposed merger is said to be double-digit EPS accretive from first year of being effective.
6 / 12Aurobindo Pharma | USFDA issues form 483 with seven observations to the injectable facility of Eugia SEZ, a wholly-owned step-down subsidiary of the company. The unit was inspected between February 19-29, 2024. The observations are procedural in nature and will be responded to within the stipulated time.
7 / 12Larsen & Toubro (L&T) | L&T has commissioned its first domestically manufactured electrolyser at the Green Hydrogen Plant in Hazira, Gujarat. This electrolyser, electrolyser boasts a rated power capacity of 1 MW, expandable to 2 MW, and is capable of producing 200 Nm3/Hr of hydrogen.
8 / 12MOIL Limited | Effective from March 1, 2024, the company has announced revised prices for various grades of Manganese Ore and other products. The prices for all Ferro grades of manganese ore with Manganese content of Mn-44% and above remain unchanged from February 1, 2024. However, prices for other Ferro grades of manganese ore with Manganese content below Mn-44% have been increased by 5% compared to the previous month. Similarly, prices for SMGR (Mn-30% & Mn-25%), Fines, Chemical grades, and EMD will continue at the prevailing rates since February 1, 2024.
9 / 12Tips Industries | Expands agreement with Warner Media, which gives the latter access to Tips Music's full extensive catalogue globally. Warner Music has been exclusively distributing Tips Music's 13,000+ strong Hindi Catalogue since 2020. The new deal will now see Warner Music take on commercial distribution responsibilities for all Tips Music's frontline and catalogue music on all audio streaming apps, spanning across 23 Indian languages and over 30,000 songs.
10 / 12Kesoram Industries | Signs facility agreement to avail financial assistance or loan worth ₹1,850 crore from Tata Capital, Tata Capital Housing Finance & Hero Fincorp. Also signs agreement to refinance existing debt, transaction and other expenses.
11 / 12Pidilite | Appoints Sudhanshu Vats as Managing Director designate from April 2025. Kavinder Singh appointed Joint Managing Director from April 2025. Both will take charge after Bharat Puri's term ends.
12 / 12Chalet Hotels | To acquire 100% stake in Ayushi and Poonam Estates LLP, the owning entity of Courtyard by Marriott, Aravalli Resort in the NCR. The transaction will be worth ₹315 crore and is likely to be completed by March 10, 2024. Courtyard by Marriott, Aravalli is a 158 room hotel with two restaurants and two bars.
