Market this week 31-12-2021

market this week 31-12-2021
  • JB Chemicals’ stock has risen 3% as the company prepares to launch Molnupiravir in the Indian market.
  • G R Infraprojects’ stock rose 3% after it was revealed that it was the lowest bidder for the Noida Metro project.
  • Ajanta Pharma climbs 5% after the board approved a Rs 285 crore share buyback.
  • HFCL gains 2% intraday after becoming a “reliable source” for telecom gears.
  • Asianet Satellite Communications has filed draught papers for a Rs 765-crore initial public offering (IPO).

JB Chemicals’ stock has risen 3% as the company prepares to launch Molnupiravir in the Indian market.

JB Chemicals and Pharmaceuticals’ stock jumped 3% in early trading on December 29 after the business announced the introduction of Molnupiravir in India.

Molnupiravir 200 mg will be launched in India by JB Chemicals and Pharmaceuticals. It will be available across the country in the following month under the brand name Molunamax for the treatment of mild COVID-19.”Molnupiravir just got an Emergency Use Authorization (EUA) from the US Food and Drug Administration for the treatment of mild to moderate COVID-19.

In India, the Central Drugs Standard Control Organisation recently recommended that permission be granted to manufacture and market Molnupiravir 200 mg capsule for limited use in emergency situations for the treatment of COVID-19 positive patients over the age of 18 with SpO2 > 93 percent and a high risk of disease progression.

G R Infraprojects’ stock rose 3% after it was revealed that it was the lowest bidder for the Noida Metro project.

After emerging as the lowest bidder for a Noida Metro Rail Project, GR Infraprojects’ stock surged 3% to Rs 1,700.95 in morning session on December 29.

The L-1 bidder for the Noida Metro Rail Corporation’s tender for part design and construction of an elevated viaduct and five elevated stations for the Noida-Greater Noida Metro Rail Project was GR Infraprojects. The project’s estimated cost is Rs 592.99 crore, with a deadline of 24 months.

On an EPC basis, the company recently got the preliminary completion certificate for the Purvanchal Expressway in Uttar Pradesh, which runs from Mojrapur to Bijaura.

Ajanta Pharma climbs 5% after the board approved a Rs 285 crore share buyback.

Ajanta Pharma’s stock rose more than 5% intraday to Rs 2,299.90 after the company’s board approved a Rs 285.6 crore share buyback today.

Ajanta Pharma’s board of directors approved a buyback of up to 11,20,000 fully paid-up equity shares with a face value of Rs 2 each at a price of Rs 2,550 per equity share payable in cash by the firm.

Through the tender offer process, the total pay-out for share repurchase will not exceed Rs 356 crore (equity share buyback consideration not exceeding Rs 286 crore + buyback tax not exceeding Rs 70 crore).

HFCL gains 2% intraday after becoming a “reliable source” for telecom gears.

After receiving approval as a ‘trusted source’ from NSCS, HFCL shares rose 2% in the morning session on December 27.The National Security Council Secretariat (Trusted Telecom Cell) has designated the technology-driven telecom company as a reliable source on national security and strategic issues.

According to a filing with the exchange, HFCL has joined a select group of firms and has established itself as a reliable supplier for all Indian telecom service providers (TSPs) for active network products and equipment.

Asianet Satellite Communications has filed draught papers for a Rs 765-crore initial public offering (IPO).

Asianet Satellite Communications, an internet service provider, has filed a draught red herring prospectus with the capital markets regulator Sebi to earn Rs 765 crore through a public offering.

The initial public offering includes a fresh issuance of 300 crore shares and a Rs 465 crore offer-for-sale by promoter Hathway Investments. According to the draught papers, the company will use the proceeds from the fresh offer to repay debts, expand network infrastructure, and for general corporate objectives.

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