Stocks to Watch: Paytm, Eris Life, Biocon, Ashok Leyland, Vedanta, IIFL Finance

livemint.com:

Paytm: On the eve of the March 15 deadline for Paytm Payments Bank to cease operations, Paytm secured a third-party application provider license from the National Payments Corporation of India on Thursday. This license will offer an alternative payment method to Paytm's customers via its app, following the shutdown of its banking division, Paytm Payments Bank, due to regulatory non-compliance. In related news, there are reports suggesting a potential 20% reduction in team sizes at Paytm.

However, the company has described this as a 'routine' employee assessment. Eris Lifesciences, Biocon: Eris Lifesciences, a company specializing in branded formulations, is set to buy the domestic branded formulation business of Biocon Biologics, Biocon's biosimilar division, for ₹1,242 crore, as announced by both companies on Thursday. This acquisition, funded through debt, will pave the way for Eris's debut in the Indian injectables market, which is worth over ₹30,000 crore.

The deal will also bring two prominent insulin brands, Basalog and Insugen, under Eris's umbrella, as per the company's exchange filing. Ashok Leyland: Creador, a private equity firm with a focus on business investments in South and Southeast Asia, is set to purchase a 19.6% share in Hinduja Tech Ltd, a global mobility engineering R&D services company and a subsidiary of Ashok Leyland, for $50 million. This investment will result in a post-money equity valuation of $255 million for Hinduja Tech.