Stocks to watch: Dr Reddy's, Mphasis, IDBI Bank, Wardwizard, Dalmia Bharat
Dr Reddy’s Laboratories: The pharmaceutical company has reported that the US FDA issued a Form 483 with four observations at its API manufacturing facility (CTO-6) in Srikakulam, Andhra Pradesh on June 7. The company has stated that it will address these issues within the stipulated timeline.Mphasis: BCP Topco IX Pte, a Singapore-based private limited company linked to Blackstone, is set to sell a 10.6% stake in Mphasis at a base price of ₹2,350 per share.
The transaction, valued at ₹4,700 crore, could potentially increase to 15.1%, raising the deal’s total potential value to ₹6,697 crore. The deal includes a 180-day lock-in period for the shares involved in the block deals.IDBI Bank: The bank has received an income tax refund order amounting to ₹2,701.62 crore for the assessment year 2016-17.
The bank is currently evaluating the implications of this refund order on its financial statements.KEC International: The company has secured new orders totalling ₹1,061 crore across its various business segments. These include orders for transmission lines and substations in India, a transmission line project in Malaysia, and supply of towers, hardware, and poles in the Americas.Gland Pharma: The company has appointed Srinivas Sadu as executive chairman and CEO, effective from June 10, 2024.
Sadu, who has served as managing director (MD) and CEO since April 25, 2019, brings over two decades of experience to his new role.Wardwizard Innovations & Mobility: WIML has secured a big order worth $1.29 billion from Beulah International Development Corporation of the Philippines. The order is part of a strategic collaboration to revolutionise the public transportation system in the Philippines with electric vehicles.Borosil Renewables: The
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