Stock Alert

Dr. Reddy's Laboratories, along with its subsidiaries, announced that it has acquired a portfolio of branded and generic injectable products from Deer Park, Illinois, based Eton Pharmaceuticals, Inc. Under the terms of the agreement, Dr. Reddy's acquired the Eton portfolio for an upfront payment of approximately $5 million in cash, plus contingent payments of up to $45 million. The acquisition supports Dr. Reddy's efforts to accelerate and expand affordable medications for patients.

Adani Enterprises: The company's subsidiary Kutch Copper has raised Rs 6,071 crore to set up a greenfield copper refinery project to produce one million tonnes per annum (MTPA) in two phases.

Zomato: The food-delivery company's board approved the acquisition of up to 33,018 equity shares of Blink Commerce (formerly Grofers India) for Rs 4,447.48 crore. The acquisition is at a price of Rs 13,46,986.01 a share. This acquisition is in line with its strategy of investing in the quick commerce business.

Hindustan Copper: A meeting of the board of directors of the company is scheduled on 30 June 2022, to consider and approve raising funds through secured or unsecured non-convertible debentures or bonds on private placement basis up to Rs.500 crore.

Federal Bank: The board of directors of the bank is scheduled on 30 June 2022, to consider and approve proposals For raising of funds through issuance of securities.

SIS: The meeting of the board of directors of the company is scheduled on 29 June 2022, to consider and approve the proposal for buyback of the equity shares of the company.

Welspun Corp: The company has secured various orders to be executed from India and the USA across the Oil & Gas and Water sector, of about 47,000 MT amounting to about Rs 600 crore.

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