Nifty Stock Tips for Today (16th June)
Ipca Labs has suffered a major setback from the US FDA. The company has been banned from the Ratlam unit’s medicines. The company has to show transparency in the manufacturing of medicines. Approval of sale will only be achieved if the manufacturing is corrected.
Selling 43 percent stake in Tata Tech to Warburg Pincus For $ 36 million, Tata Tech will buy shares in Tata Motors. Deal is expected to complete in 3 months.
DCGI, i.e. the drug controller general of India, has been approved to sell and export asthma medication. DCGI has approved this by issuing Form 45.
The subsidiary of Singapore bought 49 percent of the shares in Huesoulin Wood. After the deal, Huesoulin Wood has become Associate Company. Huesoulin Wood Plywood, manufactures wood products. Pennar Industries / Pennar Engineered America has a 50:50 JV plan for supply of goods with Pennar Engineering Systems.
Adani Power has filed a petition in the CERC for compensation of Rs 852 crore. The company has demanded compensation due to changes in domestic coal rules. With the change in the rules, the cost of power generation in Mundra Power Plant has increased.