Stocks to Watch: Sun Pharma, Apollo Tyres, Biocon, Vedanta
Sun Pharma: The company has agreed to acquire a 16.7% stake in Massachusetts-based Lyndra Therapeutics for $30 million. Lyndra develops novel delivery technology for long-acting oral therapies. NHPC: It said the board will meet on 22 December to consider the monetisation of future cash flows of one or more of its power stations for a suitable tenure.
This is a part of its plan to fund capex for FY24 and beyond. Devyani International: Its subsidiary Devyani International DMCC, Dubai, has entered the quick/limited service restaurants market in Thailand by acquiring a controlling interest in Restaurants Development Co Ltd, Thailand. Apollo Tyres: Warburg Pincus affiliate White Iris Investment may sell a 3% stake with an option to upsize, aiming to raise $100 million.
The floor price is likely to be ₹440 a share, which is a 2% discount to Monday's close. Biocon: Its subsidiary Biocon Biologics has completed the transition of the acquired biosimilar business in around 120 countries a year ahead of schedule. Vedanta: The mining and metals major has approved a second interim dividend of ₹11 a share for FY24.
This total payout amounts to ₹4,089 crore. KPI Green Energy: The company has launched a qualified institutional placement (QIP) to raise funds. The floor price is ₹1,245, a 9.19% discount to Monday's closing price.
The board will meet on 21 December to determine the issue price. Kaynes Technology: The company has approved the launch of a QIP to raise funds. The floor price of ₹2,449 is a 6% discount to Monday's closing price.
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