Lupin's Brand Acquisitions | Ambuja Cements Incorporates New Subsidiaries | Top Buzzing Stocks Today

Mon, 25 Sep Pre-Open

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On Friday last week, Indian share pared early gains as the session progressed and ended lower.

Benchmark indices rebounded on Friday after a three-day decline but later gave up initial gains to quote in the negative territory.

At the closing bell on Friday, the BSE Sensex stood lower by 221 points (down 0.3%).

Meanwhile, the NSE Nifty closed down by 68 points (down 0.3%).

SBI and Maruti Suzuki were among the top gainers.

Wipro and Cipla on the other hand, were among the top losers.

The BSE Mid Cap index and the BSE Small Cap index ended flat.

Sectoral indices ended mixed, with stocks in the auto sector and telecom sector witnessing buying. Meanwhile stocks in the realty sector and energy sector witnessed selling.

Shares of Canara Bank and TCS hit their 52-week high on Friday.

The rupee was trading at 82.945 against the US$.

Gold prices for the latest contract on MCX were trading marginally higher at Rs 58,860 per 10 grams at the time of Indian market closing hours on Friday.

Speaking of stock markets, Bharat Heavy Electricals Ltd or BHEL as it is popularly known as, is one of the hottest stocks in the market right now.

The stock has doubled in the last one year alone, with a majority of the gain coming post April 2023.

In fact, the stock is up an impressive 6x since the lows of March 2020, when it had crashed to Rs 20 per share.

What now though? Is the risk-reward equation still in favour of investors or has the stock gone out of reach?

Co-head of research, Rahul Shah answers all the questions in the video below.

Top buzzing stocks today

Suzlon Energy share price will be in focus today.

Suzlon Energy has secured an order from BrightNight, a renewable power producer, for the development of a 29.4 MW wind installed capacity. The project is part of BrightNight's 100 MW co-located wind-solar hybrid project in Osmanabad, Maharashtra.

Suzlon will supply and install 14 units of their S120 - 140m wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower, each with a rated capacity of 2.1 MW.

Sunteck Realty will also be a top buzzing stock.

Sunteck Realty and IFC have set up a joint platform to invest up to Rs 7.5 bn to develop 4-6 affordable housing projects in the Mumbai Metropolitan Region (MMR).

The investment will be towards the development of nearly 12,000 housing units across 4-6 green housing projects within the MMR.

Lupin Buys Five Brands

Pharma major Lupin said it has signed an agreement to acquire five legacy brands in strategic therapy areas - gastroenterology, urology, and anti-infectives from Menarini along with the associated trademark rights, on 22 September.

The brands are Piclin (Picosulphate Sodium), Menoctyl (Otilonium Bromide), Sucramal O (Sucralfate + Oxetacaine), Pyridium (Phenazopyridine) and Distaclor (Cefaclor).

Lupin has been exclusively marketing these brands in the Indian market since July 2021 under a distribution and promotion agreement with A. Menarini India Private Limited. This strategic acquisition for the Indian market marks a significant step forward for Lupin as it continues to expand its presence in India.

This acquisition aligns well with its strategic goal to broaden our presence in the Indian market. By offering a comprehensive range of products, we aim to deliver even greater value to our stakeholders and the communities we serve.

ANZ Banking Group provides banking and financial products and services to over 8.5 million retail and business customers.

Lupin is top pharma company in India that have solid growth in sales and profits and a high Return on Equity (ROE).

Ambuja Cement's Three Subsidiary Additions

Adani-promoted Ambuja Cements on Friday said it has incorporated three wholly-owned subsidiaries, namely Lotis IFSC, Ambuja Concrete North, and Ambuja Concrete West.

Ambuja Cements said that Lotis IFSC would carry on the business of owning and leasing aircraft in Gujarat's GIFT City. As of March 2023, the company did not list any aircraft under its assets list.

According to Adani Enterprises' annual report for the current financial year, the aircraft leasing policy for GIFT City provides exemptions for capital gains on the transfer of leased aircraft by an IFSC unit to a domestic company. Additionally, aircraft leasing units in IFSC must commence operations before 31 March 2024 to be eligible for exemption of royalty income on lease rentals paid to foreign entities.

According to Ambuja Cements' annual report, the company had eight subsidiaries and joint ventures, including ACC and others related to resources such as coal, chemical limes, and shipping in FY23.

Two of them, wholly owned subsidiaries, Ambuja Shipping Services and Ambuja Resources were incorporated in the last financial year.

For more details, check out Equitymaster's Indian stock screener, which shows all the Adani group companies' fundamental analysis on one screen.

Dig deeper into Adani group stocks.

HCL Tech Bag New Contract

HCLTech on 22 September said ANZ, one of Australia's four largest banks and the largest banking group in New Zealand and the Pacific, has signed a deal with the IT firm to transform ANZ's digital employee experience across 33 countries.

The company will provide ANZ with digital workplace services and experience management across end-user devices and applications, including laptops, mobile phones and tablets.

HCL Tech will be leveraging next-generation technologies including extended reality, GenAI and IoT-powered workspaces to enable experiential, sustainable and inclusive workplaces.

ANZ Banking Group provides banking and financial products and services to over 8.5 million retail and business customers.

IT stands among Top 5 IT Stocks that are still Undervalued.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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