On November 19, 2024, Dr. Reddy’s Laboratories announced that the US Food & Drug Administration carried out an inspection at its Active Pharmaceutical Ingredient manufacturing facility (CTO-2) in Bollaram, Hyderabad, from November 13 to 19. Dr. Reddy’s Plans to Address 7 Observations The company stated that it had received a Form 483 with 7 observations …
Adani Ports share price saw a significant decline in its share price, falling by 16.57% to ₹1,075.90 as of 12:03 PM IST on November 21, 2024. The stock opened at ₹1,160.70 and reached a high of ₹1,160.70 before dipping to a low of ₹995.65 during the trading session. Over the past year, the stock has …
ACC Ltd’s share price fell by 8.5% on November 21, 2024, dropping from ₹1,986.00 at the opening to a low of ₹1,868.20 by 11:31 AM, reflecting a significant decline. This drop in ACC’s stock price comes amid the recent bribery charges filed against Gautam Adani and other executives of its parent company, Adani Group, which …
On November 19, 2024, PSP Projects Limited announced that Adani Infra (India) Limited, the Project Management Consultancy (PMC) arm of the Adani Group signed definitive agreements to acquire up to 30.07% stake in the company from its current promoter, Mr. Prahladbhai S. Patel. As a result, Mr. Patel and his family’s ownership stake in the …
On November 19, 2024, JSW Steel Italy SrL, a subsidiary of JSW Steel Ltd, signed a Commercial Agreement with Metinvest Adria S.p.A. This agreement builds on the Memorandum of Understanding (MoU) signed on March 1, 2024, between JSW Steel Italy SrL and Italy’s Ministry of Industries and Made in Italy (MIMIT). The MoU outlined the …
On November 20, 2024, Wipro, a global leader in technology services and consulting, announced its partnership with Lineaje, a U.S.-based software supply chain security firm. This collaboration aims to strengthen the security of open-source components used in enterprise software. Notably, Wipro Ventures, the company’s corporate investment arm, has recently invested in Lineaje, demonstrating its commitment …
On November 20, 2024, Godawari Power & Ispat Limited (GPIL), a leading player in the iron & steel industry, through an exchange filing announced a strategic move to acquire a 51% stake in Jammu Pigments Limited (JPL). This acquisition is valued at approximately ₹500 Crores (post-money). GPIL will also make a financial infusion of ₹175 …
On November 21, 2024, telecom stocks such as Bharti Airtel, Indus Towers, and Vodafone Idea showed mixed movements in the morning after a significant ruling by the Supreme Court (SC). The court’s decision allows these companies to claim tax credits for duties paid on infrastructure like towers, parts, shelters, printers, and chairs, which can be …
The Background: Alleged Bribery Scheme for Solar Contracts The U.S. Department of Justice and the Securities and Exchange Commission on Wednesday accused Adani and others of offering over $250 million in bribes to Indian officials to secure solar energy contracts. They allegedly hid this scheme while seeking funds from US investors. The five-count indictment also …
The Indian Hotels Company (IHCL), controlled by the Tata Group, plans to expand its hotel inventory significantly by investing ₹5,000 crore over the next 5 years. This is in response to the booming tourism sector in India. Growth Plans and Future Projections Indian Hotels currently hold 12-13% of the branded hotel room market in India, …
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