Stocks in the news: Tata Motors, Tech Mahindra, SBI, Lupin and IB Housing

Tata Motors: With input costs continuing to rise, automaker like Tata Motors are looking to increase vehicle prices from January next year to offset the impact. Already, car market leader Maruti Suzuki has announced to hike vehicle prices from next month.

State : The largest PSU lender has invited bids from asset reconstruction companies, and other financial institutions to sell an NPA account KSK Mahanadi Power Company, with total outstanding against the company standing over Rs 4,100 crore.

Tech Mahindra: The IT major said it has acquired 100 per cent stake in Activus Connect, which provides work-at-home customer experience management solutions, for $62 million (about Rs 466 crore). The US based Activus Connect has 1,750 employees and reported a revenue of USD 17 million in the financial year ended December 31, 2020.

Lupin: The drug maker said it has inked a marketing pact with Biomm SA to distribute and market biosimilar Pegfilgrastim in Brazil. The company has entered into an exclusive distribution and marketing agreement with Biomm SA in Brazil for distribution of Pegfilgrastim.

Macrotech Developers: The structure of Indian real estate is improving in a meaningful way with disciplined supply and consumers demand gravitating towards branded developers having better execution track record.

Aurobindo Pharma, Unichem Laboratories: The pharma players are recalling different products in the US market, the world’s largest market for medicines, due to manufacturing issues. As per the latest enforcement report issued by the USFDA, Aurobindo’s US-based unit is recalling 7,296 containers of hypertension drug Carvedilol tablets.

Indiabulls Housing Finance: The NBFC said it will raise up to Rs 1,000 crore through a public issue of bonds that opens next week. The base issue size of the bonds, in the nature of secured redeemable NCDs, is of Rs 200 crore with an option to retain oversubscription up to Rs 800 crore, aggregating up to Rs 1,000 crore.

Narayana Hrudayalaya: The healthcare provider has joined hands with Ritesh Properties to set up a 225-bed multi-specialty hospital in Ludhiana, Punjab. The hospital would come up at the Ludhiana-Chandigarh highway. Spread over 2 lakh square feet, the the hospital is expected to be operational by 2024.

RSWM: The group company of the LNJ Bhilwara is foraying into knitted fabric in line with the demand trend which will contribute Rs 800 crore to its topline over the next two to three years, a senior company official said.

Petrochemicals: The chemical player said it has received board approval to acquire compulsory convertible debentures worth up to Rs 1,000 crore issued by its subsidiary

Mangalore Petrochemicals Limited (OMPL).

Dish TV: The direct-to-Home service provider, which is facing a notice from its largest shareholder Yes Bank to reconstitute its board, has said it would convene its Annual General Meeting on December 30.

had postponed its AGM for a month after getting regulatory approval from the Registrar of Companies, Mumbai.

Morepen Laboratories: The drug firm said it has received approval from the US health regulator to market its generic anti-allergy drug in the American market. The company sells the product in India under the Fexopen brand (Fexofinadine Hydrochloride). Morepen’s product is the generic version of Sanofi Aventis’ anti-allergy drug Allegra.

Eris Lifesciences: The Drug maker said it has formed a joint venture with Mumbai-based MJ Biopharm to enter the insulin segment. Eris MJ Biopharm, the 70:30 joint venture (with Eris holding a 70 per cent stake), would primarily engage in marketing and distribution of human and analogue insulin including Aspart, Glargine.


Karda Constructions: French financial services company Societe Generale acquired 36 lakh equity shares in Karda Constructions (0.58 percent) at Rs 16.65 per share via an open market transaction on the NSE as per the bulk deals data.


Kirloskar Oil Engines: Nalanda India, the Indian investment arm of a Singapore-based investment firm, has made a partial exit from its 13-year-old listed portfolio company Kirloskar Oil Engines as it sold 5.2 million shares at Rs 180.9 apiece through two bulk deals on the National Stock Exchange.


Krishna Institute of Medical Science: The recently listed healthcare services player was in the buzz as Malabar Select Fund offloaded more than 4 lakh equity shares of the company at Rs 1,319.04 apeice, the NSE bulk deal data showed.


Teamlease Services: The special consumer services player has sold its 100 per cent share holding in IITJ education.