JKB Financial Services Ltd.

As on : 05-Jul-2023

Market Commentary - Stock Alert
05-Jul-2023 08:41

SBI, LTIMindtree, Lupin, IOCL to be watched

SBI: The Executive Committee of the Central Board (ECCB) of the bank has accorded approval for acquiring the entire stake held by SBI Capital Markets Ltd (SBICAPS) in SBICAP Ventures Limited (SVL) by SBI. The estimated cost of capital for the acquisition will be Rs 708.07 crore.

LTIMindtree: IT major LTI Mindtree will replace HDFC in Nifty50 index effective from 13 July 2023. The decision to replace HDFC with LTIMindtree was taken at a meeting of the Index Maintenance Sub-Committee (Equity) of NSE Indices on account of HDFC-HDFC Bank merger.

Lupin: Global pharma major Lupin announced that it has received tentative approval from the United States Food and Drug Administration (U.S. FDA) for its Abbreviated New Drug Application (ANDA), Dolutegravir Tablets for Oral Suspension.

Aurobindo Pharma: Aurobindo Pharma announced that the breast cancer biosimilar product, BP02 (Trastuzumab or biosimilar to Herceptin), developed by its wholly owned subsidiary company, Curateq Biologics Private Limited, has met its primary endpoint in Phase 3 clinical trial.

Indian Oil Corporation (IOCL): A meeting of the board of directors of the company is scheduled on 7 July 2023 to consider raising of capital through rights issue of equity shares to meet the capital expenditure plan for its various projects.

Macrotech Developers: The company achieved its best ever Q1 pre-sales performance of Rs 33.5 billion, a growth of about 17% on a YoY basis.

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