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Key Developments for Dr Reddy’s, Torrent Pharma, Gensol, L&T Finance, Glenmark

Dr Reddy’s Laboratories: Dr Reddy’s has secured a licensing deal with Ingenus Pharmaceuticals to market Cyclophosphamide injection, used in cancer treatment, in the US. Ingenus will receive 50% of the profits from this venture.

Torrent Pharmaceuticals: The US FDA issued a Form 483 with five observations after inspecting Torrent’s plant in Gujarat. This indicates areas where improvements are needed for compliance.

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Whirlpool of India, Hindustan Unilever: These companies have formed a marketing alliance for Surf Excel, intending to collaborate on joint marketing activities for the brand.

Gensol Engineering: Gensol won the bid to execute Gujarat Urja Vikas Nigam’s 250 MW Battery Energy Storage Project, valued at ₹1,340 crore. This project aims to supply electricity to Gujarat State’s DISCOMs during peak and off-peak hours.

L&T Finance: Bain Capital plans to sell its stake in L&T Finance through a block deal, marking a complete exit from the company.

Glenmark: Glenmark has received US FDA approval to market a generic drug for managing conditions caused by excessive stomach acid production.

Tata Motors: Tata Motors’ India business is now a significant part of its future growth plans, representing 50% of its price target for FY26, as per Jefferies’ report. The company aims to enhance market share in passenger vehicles and increase non-vehicle revenues in commercial vehicles.

Tata Communications: Tata Communications has secured a five-year broadcasting services contract with World Athletics.

Brigade Enterprises: Brigade Enterprises plans to invest ₹8,000 crore in Chennai by 2030 to expand its operations. They have launched Brigade Icon Residences as part of their upscale mixed-use development projects in the city.

PTC India Financial Services: Sebi has fined Rajib Kumar Mishra and former MD Pawan Singh for corporate governance lapses and barred Mishra from director roles in listed companies for six months.

NBCC (India): NBCC has been awarded a ₹100 crore contract by Oil India to construct a centralised core repository with advanced laboratory facilities in Guwahati, Assam.

Zaggle Prepaid Ocean: ICICI Prudential acquired a 0.52% stake in Zaggle Prepaid Ocean through a bulk deal.

Jaiprakash Associates: The NCLAT has refused to stay NCLT’s order initiating insolvency proceedings against Jaiprakash Associates and has instructed ICICI Bank to review the company’s settlement proposal.

Sobha Limited: Sobha Limited’s board approved a rights issue of equity shares worth ₹2,000 crore, offering a 25% discount on the share price. Eligible shareholders can subscribe from June 28 to July 4.

Federal Bank: Federal Bank has nominated three candidates, including KVS Manian, Shalini Warrier, and Harsh Dugar, for the position of managing director and CEO, awaiting approval from the RBI.

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