Vedanta will be watched after Q4 earnings

On a consolidated basis, Vedanta's net profit fell 46% to Rs 2,615 crore on 15% decline in net sales to Rs 23,092 crore in Q4 March 2019 over Q4 March 2018. The result was announced after market hours yesterday, 7 May 2019.

Neogen Chemicals debuts on the secondary equity market today, 8 May 2019. The company priced the initial public offer (IPO) at the top end of the Rs Rs 212 - 215 a share price band. The IPO received bids for 17.82 crore shares and it was subscribed 41.18 times. The issue opened for subscription on 24 April 2019 and closed on 26 April 2019.

On a consolidated basis, BSE's net profit fell 16.46% to Rs 51.86 crore on 6.79% decline in total income to Rs 182.08 crore in Q4 March 2019 over Q4 March 2018. The result was announced after market hours yesterday, 7 May 2019.

BSE said it proposes to buyback 67,64,705 equity shares at Rs 680 each through tender offer route amounting to Rs 460 crore. The buyback offer size represents 24.73% of the aggregate of the total paid up capital and free reserves of the company based on the standalone audited financial statements of the company as at 31 March 2019.

Alembic Pharmaceuticals said it has entered into a joint venture (JV) agreement dated 7 May 2019 with SPH SINE Pharmaceutical Laboratories Co, China ('SPH Sine') and Adia (Shanghai) Pharma Co, China ('Adia') to promote and sell pharmaceutical products for the Chinese market. Initially this JV will commercialize products manufactured by Alembic Pharmaceuticals. Subsequently the JV plans to set up a manufacturing facility in China. The JV will commercialize products in the Chinese market which has an increasing demand for generic drugs. It will initially launch with a portfolio of oral solids and is expected to widen to other areas like injectable, ophthalmology, dermatology & oncology which are being currently developed and manufactured by Alembic. SPH Sine, Alembic and Adia shall hold 51 %, 44% & 5% equity in the JV agreement. The JV agreement has standard terms including management functioning, restriction on transfer of shares, non-compete and termination events and consequences. The announcement was made after market hours yesterday, 7 May 2019.

Biocon informed that following the successful approval and European launch of Hulio, (biosimilar Adalimumab) in-licensed by the company's partner Mylan from Fujifilm Kyowa Kirin Biologics, the commercialization rights have been extended from Europe to Global Markets. Biocon, under the terms of its global partnership with Mylan for monoclonal antibodies, retains its economic interest in this expanded in-licensing arrangement and will gain a share of profits from global markets. Biocon is committed to enable patient access to affordable biosimilars and this partnership accelerates that process. The announcement was made after market hours yesterday, 7 May 2019.

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