Dr. Reddy’s Laboratories, Shoppers Stop and 20 Microns to see some action today

Dr. Reddy’s Laboratories has entered into a non-exclusive patent licensing agreement with Takeda Pharmaceutical Company (Takeda) to commercialise Vonoprazan tablets in India. Vonoprazan is a novel, orally active potassium competitive acid blocker (PCAB), used to treat reflux esophagitis and other acid peptic disorders. Dr. Reddy’s will market Vonoprazan tablets under its own trademark VONO to be available in two strengths, 10mg and 20mg.

Shoppers Stop’s board has approved additional investment in Global SS Beauty Brands (GSBBL), material wholly owned subsidiary of upto Rs 5 crore in one or more tranches, by way of subscription to Right Issue of 500 preference shares i.e. 0.01% Non-Cumulative Optionally Convertible Preference Shares (NOCPS) each at par at face value of Rs 1,00,000 each of GSBBL. With the approval of the aforesaid investment, total aggregate investment approved by the company in GSBBL as on July 18, 2024 is Rs 60 crore, which includes approved and subscribed by way of right issue to Equity shares of Rs 4.95 crore and Preference shares of Rs 50 crore; and further additional investment of Rs 5 crore approved at the Board Meeting held on July 18, 2024.  

20 Microns’ subsidiary -- 20 Microns SDN BHD, Malaysia has signed the share purchase agreements for acquisition of 100% equity shares of Goh Teik Lim Quarry SDN BHD and IQ Marbles SDN BHD for an aggregate value not exceeding RM 15,100,000 (Approximately Rs 27 crore). Pursuant to share purchase agreements becoming effective, Goh Teik Lim Quarry SDN BHD and IQ Marbles SDN BHD would become step-down subsidiaries of 20 Microns.

Blue Cloud Softech Solutions (BCS) has secured strategic ‘Al Transformation’ Project from reputed 25 year old Vidyavikas group of Educational Institutions. As per project scope, Blue Cloud is in the process of deploying its flagship Al product offerings like ‘Emotifics’ and ‘Edugenie’ in Vidyavikas College and Schools. Emotifics is an innovative ‘Emotion Al’ analytics solution which tracks human emotions with the help of advanced computer vision technology. Emotifics helps Schools & College to improve student performance, staff productivity and mental health of students. Edugenie, one stop platform for Education needs, offers comprehensive features like ERP, CRM, LMS, Assessment etc., powered by Al technology. 

SBFC Finance has raised Rs 200 crore through the allotment of 20,000 Secured, Rated, Listed, Redeemable Non-convertible debentures (NCDs), of face value of Rs 1,00,000 each at an issue price of Rs 1,00,000 on Private Placement basis. The Board of Directors of the Company through resolution passed by circulation on July 18, 2024 approved the allotment of the same. 

Infosys has reported results for first quarter ended June 30, 2024 (Q1FY25). The company has reported 3.16% fall in its net profit at Rs 5768 crore for the quarter ended June 30, 2024 as compared to Rs 5956 crore for the same quarter in the previous year. However, total income of the company increased by 3.63% at Rs 34004 crore for Q1FY25 as compared to Rs 32812 crore for the corresponding quarter previous year. On consolidated basis, the company has reported 7.22% rise in net profit at Rs 6374 crore for Q1FY25 as compared to Rs 5945 crore for the same quarter in the previous year. Total income of the company increased by 4.31% at Rs 40153 crore for Q1FY25 as compared to Rs 38494 crore for the corresponding quarter previous year.

L&T Technology Services has reported results for first quarter ended June 30, 2024 (Q1FY25). The company has reported 4.27% rise in its net profit at Rs 312.60 crore for the quarter ended June 30, 2024 as compared to Rs 299.80 crore for the same quarter in the previous year. Total income of the company increased by 10.42% at Rs 2309.90 crore for Q1FY25 as compared to Rs 2091.90 crore for the corresponding quarter previous year. On consolidated basis, the company has reported 0.58% rise in net profit at Rs 313.90 crore for Q1FY25 as compared to Rs 312.10 crore for the same quarter in the previous year. Total income of the company increased by 7.45% at Rs 2524.10 crore for Q1FY25 as compared to Rs 2349.10 crore for the corresponding quarter previous year.