Stocks to Watch: Dr Reddy's, Federal Bank, Titan, Adani Wilmar, JSW Steel
Dr Reddy's Laboratories: The drug major has recalled approximately 8,280 bottles of Tacrolimus, used to prevent organ rejection post-transplant, from the US market. This action follows the US Food & Drug Administration flagging a packaging error, amid the "presence of foreign tablets/capsules" in the lot. Reliance Industries: Billionaire Mukesh Ambani said his firm, in partnership with Canada's Brookfield, will open a data centre in Chennai next week, marking entry into the fast-growing market.
Reliance had in July last year invested about ₹378 crore to enter an existing joint venture, where Brookfield Infrastructure and US-based realty estate investment trust Digital Realty were already partners. The three own 33% each in the venture. Federal Bank: The Reserve Bank of India has asked the bank to recommend the names of at least two executives for appointment as the lender's managing director and chief executive after current chief Shyam Srinivasan steps down.
RBI said Srinivasan will be allowed an extension of one year as its MD and CEO after his three-year term ends on 22 September. Titan: The jewellery and watchmaker has registered a revenue growth of 22% in the December quarter. During the October-December period, it added 90 stores across verticals, taking the group's retail presence to 2,949 stores.
The jewellery division reported a 21% growth in the domestic market. Bajaj Auto: The company will consider a share buyback proposal at its meeting scheduled for Monday. The proposal is to buy back fully paid-up equity shares of the company and other necessary matters.
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