June 6, 2023
Finance International

L&T Finance, Sun Pharma, and BEL among buzzing stocks in today’s news

L&T Finance, Sun Pharma, and BEL among buzzing stocks in today's news

Campus Activewear:

Fidelity Investments and Societe Generale have acquired a 2.98% stake in the footwear manufacturing company through open market transactions, while TPG Growth has exited Campus. TPG Growth III SF Pte Limited sold its entire 2.32 crore shares in Campus, while Fidelity Series Emerging Markets Opportunities Fund, Fidelity International Discovery Fund, and Societe Generale acquired 33.39 lakh shares, 17.1 lakh shares, and 40.56 lakh shares, respectively.

Sun Pharmaceutical Industries:

The pharma major has signed an agreement to acquire a 60% shareholding in Vivaldis Health and Foods for Rs 143.3 crore, with the remaining 40% to be acquired in the future. Vivaldis is engaged in manufacturing and marketing drugs, food supplements, and over-the-counter products in the companion animal segment of the animal healthcare industry.

Bharat Electronics:

The Ministry of Defence has signed a Rs 3,000 crore contract with Bharat Electronics for the supply of integrated electronic warfare systems for the Indian Army. Additionally, BEL has received several contracts totaling Rs 1,300 crore from the Indian Navy for the supply of indigenously developed fire control, gun fire control, surveillance, tracking, ESM, sonar systems, etc.

Alembic Pharmaceuticals:

The United States Food and Drug Administration (USFDA) has conducted an inspection at Alembic Pharmaceuticals’ injectable and ophthalmic facility and issued a Form 483 with two minor procedural observations. None of the observations are related to data integrity and management.

Eris Lifesciences:

The pharma company has completed the acquisition of nine dermatology brands from Dr. Reddy’s Labs for Rs 275 crore, expanding its cosmetic dermatology business.

L&T Finance Holdings:

The Reserve Bank of India has approved the merger of L&T Finance, L&T Infra Credit, and L&T Mutual Fund Trustee with L&T Finance Holdings.

IndusInd Bank:

The private sector lender has appointed Vikas Muttoo as COO and Head Member Services of its subsidiary Bharat Financial Inclusion.

One 97 Communications:

The Reserve Bank of India has allowed Paytm Payments Services to continue its online payment aggregation business while waiting for approval from the Government of India for past investment from One 97 Communications into Paytm Payments Services as per FDI Guidelines.Zydus Lifesciences: The USFDA has conducted a pre-approval inspection and GMP audit at Zydus Lifesciences’ manufacturing facility SEZ-1 at Pharmez, Ahmedabad, and concluded with three observations. There were no data integrity-related observations.

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