Stocks that will see action on July 15, 2022

Cipla has informed the stock exchanges that its arm Cipla Health Ltd has signed definitive agreements to acquire nutritional supplement brand Endura Mass from Medinnbelle Herbalcare for an undisclosed sum. The acquisition is in line with Cipla’s strategic imperative to augment its wellness portfolio for bringing about a shift from an illness to a wellness mindset. It will include Endura and all other associated trademarks, the company said in a regulatory filing.

Syngene International has signed a 10-year agreement with animal health company, Zoetis, to manufacture the drug substance for Librela which is used for treating osteoarthritis in dogs. This agreement, initially centred on Librela, paves the way for development and manufacturing of other molecules in the coming years and is expected to be worth up to $500 million to Syngene in over 10 years, subject to regulatory approvals and market demand, the company said in a statement.

Life Insurance Corporation of India has said its embedded value stood at ₹5,41,492 crore at the end of March this year compared to ₹95,605 crore in the year-ago period. At the end of September 2021, the Indian Embedded Value (IEV) stood at ₹5,39,686 crore.

Mahindra Holidays & Resorts India Limited has provided a loan of €25 million to MHR Holdings (Mauritius) Limited, wholly owned subsidiary of the company. The Euro has been weakening against US Dollar and consequently Indian Rupee. MHR Holdings has decided to repay the loan partially to take benefit of weaker Euro. This loan provided by the company to MHR Holdings will be utilised for the purpose of repayment of several loan(s) availed by it from the banks for the purpose of making investments in or providing financial assistance to its wholly owned subsidiary companies.

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Life Insurance Corporation of India has said that it has offloaded Mukand shares at an average price of ₹93.78. After this transaction, LIC holds 43,70,271 shares of the company, decreasing its shareholding from 5.112 per cent to 3.091 per cent of the paid-up capital of Mukand, which is engaging in manufacturing of special alloy steel, billets, bars, rods, EOT cranes, material handling equipment and other industrial machinery and comprehensive engineering services.

Healthcare Triangle Inc, subsidiary of SecureKloud Technologies, has announced the closing of its previously announced private placement with a single institutional investor for the issuance and sale of 60,97,561 shares of common stock. The gross proceeds from the private placement were approximately $6.5 million, before deducting placement agent fees and other offering expenses. The Company intends to use the net proceeds from the private placement for the working capital and other general corporate purposes.

Pursuant to competitive bidding process, Solar Energy Corporation of India Limited (SECI) has granted a Letter of Award to Torrent Power Limited for Wind Power Project of 300 MW and confirming long-term Power Purchase Arrangement for the power generated from the proposed project. The estimated project cost is ₹2,600 crore and estimated date of commissioning is 24 months from the execution of PPA.

Kanani Industries Ltd has received additional Export Orders worth of ₹13 crore from its international clients for supply of diamond studded Jewelry.

Results Calendar: Aditya Birla Money, Ashirwad Steels, Deep Diamond India, Den Networks, Federal Bank, Hathway Bhawani Cabletel, IFL Services, Jindal Steel & Power, JustDial, Kesoram Industries, Key Corp Lloyds Metals and Energy, L&T Technology Services, Oberoi Realty, Opto Circuits (India), Suncity Synthetics, Tokyo Finance and Tricom Fruit Products.

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