Stocks to Watch, September 25: Shipping stocks, Glenmark Pharma, Shriram Finance, Muthoot Finance, Lupin, Polycab

According to an official statement, the package introduces a four-pillar approach designed to strengthen domestic capacity, improve long-term financing, promote greenfield and brownfield shipyard development, enhance technical capabilities and skilling, and implement legal, taxation, and policy reforms to create a robust maritime infrastructure.

Under the package, the Shipbuilding Financial Assistance Scheme (SBFAS) will be extended until March 31, 2036, with a total corpus of Rs 24,736 crore.

The deal was signed for the development and commercialisation of trastuzumab rezetecan, which is a drug aimed at treating different types of cancer. It is a next-generation antibody drug conjugate (ADC), Glenmark Pharma said in a regulatory filing.

Citigroup Global Markets Mauritius, Nippon India Mutual Fund (MF), Edelweiss Life Insurance Company, Ward Ferry Management, Societe Generale, Dublin-based Mediolanum International Funds and BNP Paribas Financial Markets are among the entities that have bought stakes in Akzo Nobel India, as per block deal data on the NSE.

An RBI bulletin said on Wednesday the prospects for NBFCs in segments like vehicle loans and loans against gold appear robust, buoyed by improvements in vehicle sales and rising gold prices.

Observing that NBFCs play a vital role in India's economic growth, it said these institutions, by providing finance for infrastructure, vehicles, housing, and consumer goods, improve aggregate demand, create jobs, and contribute to economic expansion.

The consortium will participate in the Expression of Interest notice issued by the Government of India’s (GoI) Aeronautical Development Agency by way of submitting a response in the coming weeks, the press release said.

The partnership, the press release added, will leverage L&T’s expertise in developing strategic defence and aerospace platforms, along with BEL’s experience in defence electronics and systems, to jointly contribute to India’s 5th-generation fighter aircraft.

PriceMetrix, based in Toronto, serves leading wealth management firms in the US and Canada.

Its proprietary database covers $8 trillion in assets under management and 30 million investment accounts, backed by 25 years of data, rating agency Crisil said in a statement.

The acquisition includes key products such as ValueOne, FeeCheck, CommissionCheck, SignalOne, advisory services, and comprehensive surveys of the North American wealth management sector, it said.

The approval by the US Food and Drug Administration (USFDA) is for the abbreviated new drug application for Bictegravir, Emtricitabine, and Tenofovir Alafenamide tablets of strength 50 mg/200 mg/25 mg, Lupin said in a regulatory filing.

This product would be manufactured at Lupin's Nagpur facility, it added.

As per the agreement, the company will transfer late-stage development, clinical manufacturing, and commercial supply of the biosimilar from Ipca to BSS' 200,000 square feet sterile campus at OcyonBio in Aguadilla, Puerto Rico.

POWERGRID emerged as the top bidder as the transmission service provider through the tariff-based competitive bidding (TBCB) process conducted by REC Power Development and Consultancy Ltd (RECPDCL), the bid process coordinator, for development of the transmission project on a Build, Own, Operate & Transfer (BOOT) basis, according to a statement.

RECPDCL, a wholly owned subsidiary of REC Limited, the Maharatna CPSU under the Power Ministry and an NBFC, handed over a project-specific SPV of the ISTS Transmission Project under the TBCB route, viz., Davanagere Power Transmission Ltd, to Power Grid Corporation of India Ltd on Wednesday.

The implementation period of the project is 24 months.

The company’s arm executed the master service agreement with TCS’s wholly owned subsidiary for cloud hosting, software license, and implementation services for the end customer, Newgen Software said in a regulatory filing.

Under the five-year-long agreement, Newgen Software will provide a modernised cloud-based enterprise records management platform, it added.