Buzzing stocks: Eyes on these 14 including LIC, Reliance, IDBI Bank, NLC India, Dr Reddy’s Lab, Morepen Lab, Aeroflex
Broad-based activity across state-owned and pharma stocks signals appetite for large-cap IPOs, strategic divestments, and new project wins in renewables, manufacturing, and infrastructure
Reliance Industries has filed a prospectus for the IPO of its subsidiary Jio Platforms. The IPO will open for subscription on October 21 and close on October 23. IDBI Bank has found a buyer in Fairfax Financial Holdings Ltd for a 60.72% stake in the bank. NLC India's renewable energy subsidiary has won a bid for a battery energy storage system project in West Bengal.
Dr Reddy's Laboratories received FDA approval for its manufacturing facility. Morepen Laboratories was cleared of a ₹117.94 crore demand by a Himachal Pradesh High Court. Nitco Ltd has completed land conveyance and sale agreements in Mumbai. Capri Global Capital plans to raise up to ₹4,000 crore through various means. SMC Global Securities approved a warrant issue of up to ₹106 crore.
Godavari Biorefineries received a US patent for a cancer treatment compound. Kronox Lab Sciences acquired a manufacturing plant in Dahej SEZ. Aeroflex Industries plans to expand its manufacturing capabilities. Dr Reddy's Laboratories Suyog Urja received a Letter of Intent for a wind power project. Om Power Transmission secured a turnkey contract for underground cable network conversion.
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