Tevapharm’s capacity expansion boosts Marksans Pharma by 6%.
On October 12, Marksans Pharma’s stock price increased by 6% after the business disclosed plans to quadruple its manufacturing capacity by acquiring capacity from Tevapharm India’s Goa unit.
On the National Stock Exchange, the stock was trading at Rs 49.50 as of October 12 Morning, up 6.12%. At 17,028, the Nifty was up 0.27 percent. The stock lost 5% in the previous month and has lost 3% so far in 2022.
On October 11, it was revealed in a filing with the exchange that the company had entered into a business transfer agreement with Tevapharm India to purchase its operations related to the production and distribution of bulk pharmaceutical formulations in Plot No. Al, Phase l-A, Verna Industrial Estate, Verna, Goa, on a going-concern basis.
The company hopes to increase its current capacity in India from 8 billion units annually to 12 billion units through the acquisition. According to the exchange filing, it aims to use the increased capacity to produce tablets, hard and soft gel capsules, ointments, candies, and creams.
Hero MotoCorp’s VIDA V1 pricing is disappointing, but the company’s EV initiatives are encouraging
After Tata Motors’ Tiago EV, Hero MotoCorp, based in New Delhi, is the most recent in the race to introduce an electric vehicle (EV). On last Friday, the multinational Indian maker of motorcycles and scooters unveiled the VIDA V1 electric scooter.
Hero MotoCorp’s Garden Factory in Chittoor, Andhra Pradesh, is where the e-scooter is made. Delhi, Bengaluru, and Jaipur will be the initial three cities where it is introduced, and eight more cities will be added gradually. Bookings began on October 10 with an initial token payment of Rs 2,499, and delivery will begin in these three locations in the second week of December 2022.
There are two versions of the Vida V1: the V1 Plus costs Rs. 1,45,000, and the V1 Pro costs Rs. According to Elara Securities, the cost is more than that of comparable EVs made by TVS Motor Company, Ola Electric, Ather Energy, and Bajaj Auto (India).
Analysts believe that Hero MotoCorp’s e-scooter is more expensive than its rivals since it delivers more or less comparable characteristics to the majority of feature-rich items currently on the market.
Gravita India is purchased by Abu Dhabi Investment Authority after lead maker prices rose 35%.
Through open market transactions, Abu Dhabi Investment Authority acquired an eight-tenths of one percent share in the leading producer Gravita India.
According to the bulk deals data accessible on the BSE, a sovereign wealth fund owned by the Emirate of Abu Dhabi purchased 5,56,493 equity shares in the company.
The fund invested in Gravita India for the first time by purchasing these shares at an average cost of Rs 332 per share.
By selling nearly all of his shares at the same price, investor Atul Kuchhal appears to have left the lead producer. At an average price of Rs 332.08 per share, Kuchhal sold 5,56,493 shares in Gravita on previous Friday and 9,18,663 shares on last Thursday.
After the company secures a Rs 194 crore project in Maharashtra, Indian Hume Pipe shares surge.
On October 7, when the company received an order for Rs 194 crore under the Jal Jeevan Mission Project in Maharashtra, shares of Indian Hume Pipe Company increased more than 10% intraday.
The company was discovered to have received a Letter of Acceptance (LoA) from the Maharashtra Jeevan Pradhikaran Division, Buldhana, for work totaling Rs 194.03 crore as part of the Jal Jeevan Mission Project for the Jalgaon Jamod 150 villages Regional Rural Water Supply Scheme in the Maharashtra district of Buldhana. The project must be finished in 24 months, with a 12-month trail run following project completion.
On the BSE, the stock was up Rs 17.15, or 10.54 percent, at Rs 179.90 as of Oct 7 Morning. It reached a high of Rs 185.50 and a low of Rs 167.60 during the same trading day. It was trading with volumes of 46,695 shares, up 631.69 percent over its five-day average of 6,382 shares.
After a business update, Dabur stock is under pressure, but Motial Oswal anticipates a 22% increase.
A day after the company released its business update for the three months ending in September, the share price of Dabur India traded in the red during the morning session on October 7.
The FMCG company reported that the geopolitical situation continued to have an extremely significant inflationary impact on its operations in its business update for Q2 FY23. Due to rising input costs, operating margin is anticipated to be 150 to 200 basis points lower than in Q2FY22, but it will rise sequentially.
Despite the difficulties brought on by the macroeconomic environment, the company claimed that business in the nation has been consistent and that it intends to post revenue growth in the mid-single digit range.
At 7:05 AM on October 7, Dabur India’s BSE quote was Rs 541.05, down Rs 4.40 or 0.81 percent. It reached a high of 544.20 rupees and a low of 536.55 rupees during the day.
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