Stocks to Watch: Mankind, Adani, Suzlon, Godrej & More
Here’s a brief overview of stocks that could be in the spotlight today:
Mankind Pharma has secured the required regulatory approvals, including from the Competition Commission of India, to move forward with acquiring Bharat Serums and Vaccines. The acquisition, formalized in July 2024 through a Share Purchase Agreement involving Bharat Serums, the sellers (Ansamira and Miransa, affiliates of Advent International funds), and minority shareholders Bhaskar Iyer and Abhijit Mukherjee, marks a major step in Mankind’s efforts to expand within the pharmaceutical sector.
Adani Enterprises has merged two of its subsidiaries, Adani Infrastructure and Mundra Solar Technology, into Adani New Industries, focusing on green hydrogen production and wind turbine manufacturing. This strategic consolidation is expected to enhance the company’s renewable energy capabilities. Additionally, Adani is planning to raise $1.3 billion through a share sale to institutional investors, signaling a renewed push towards growth, especially in the green energy space, following earlier setbacks.
Suzlon Energy received advisory and warning letters from both the National Stock Exchange (NSE) and BSE Ltd for failing to comply with SEBI's Listing Obligations and Disclosure Requirements (LODR). The warnings were related to the company’s management of disclosures surrounding the resignation of Independent Director Marc Desaedeleer, highlighting the importance of transparency and regulatory compliance in corporate governance.
NTPC subsidiary THDC India Limited (THDCIL) has signed a memorandum of understanding (MoU) with the Rajasthan government to develop 1,600 MW of pumped storage projects. This initiative, with an investment of Rs 8,800 crore, aims to boost energy storage and grid stability, aligning with India’s larger goal of expanding renewable energy capacity.
Godrej Properties has received board approval to raise Rs 6,000 crore, subject to shareholder consent. The capital will support the company’s growth strategy and strengthen its position in the real estate market, reflecting its commitment to portfolio expansion and exploring new opportunities.
HCL Tech and Foxconn are partnering on a semiconductor joint venture, with Foxconn committing to an investment of Rs 424 crore. This collaboration aims to set up a semiconductor manufacturing facility in India, underscoring both companies' dedication to advancing India’s tech infrastructure and Foxconn’s growing interest in the country's tech sector.
Zydus Lifesciences has obtained tentative approval from the US Food and Drug Administration (USFDA) to produce Enzalutamide tablets in 40 mg and 80 mg doses. These tablets are used to treat castration-resistant prostate cancer and metastatic castration-sensitive prostate cancer, marking an important milestone in Zydus’ efforts to strengthen its oncology portfolio and expand its U.S. market presence.
