Biocon, JSW Steel and Western Carriers (India) to see some action today

Biocon has received approval for purchase of equity shares of Biocon Biologics (BBL), a material subsidiary of the Company, from one of its existing investors pursuant to liquidity option exercised by them. This would result in an increase in the company’s equity shareholding in BBL by 1.5%. Post this purchase, Biocon’s stake in BBL will be 90.2%. The purchase shall be completed on or before February 01, 2025, subject to the completion of necessary formalities. The Board of Directors at its meeting held on January 30, 2025, has approved the same. 

Jsquare Electrical Steel Nashik, a wholly owned subsidiary of JSW JFE Electrical Steel (J2ES), which is a 50:50 joint venture between JSW Steel and JFE Steel Corporation (JFE), has completed the acquisition of 100% equity interest in thyssenkrupp Electrical Steel India (tkES India) and the associated technology package from the thyssenkrupp group has been licensed/transferred to the Company. The total purchase consideration for the Transaction (including closing adjustments) is Rs 4,158.6 crore.

Western Carriers (India) (WCIL) has received an order from Hindustan Zinc for the movement of finished goods, zinc and lead ingots from its smelting complexes at Chanderiya Lead Zinc Smelter, Zinc Smelter Debari, Dariba Smelting Complex (Rajasthan) and Pantnagar Metal Plant (Uttarakhand) to Mundra, Pipavav and Mumbai ports and HZL’s depots and customer sites across India. The Rs 170 crore order includes both export and domestic movement for a period of four years for Hindustan Zinc, one of world's largest and India's only integrated Zinc-Lead-Silver producer.  

The Derma Co., an active ingredient backed skincare brand from Honasa Consumer, has launched its first exclusive brand outlet (EBO). Located at the Airia Mall in Gurugram, the new store marks a significant milestone in the brand’s journey to provide dermatologist-designed, science-backed skincare solutions. 

Ircon International (IRCON) has been awarded an EPC contract in JV (AMRIL (74%) -IRCON (26%) through Letter of Acceptance by Office of the Project Director, Externally Aided Projects (EAP), Public Works Department (PWD) Manipur.

In a significant development, Shree Ganesh Remedies (SGRL) has executed a Long-Term Strategic Supply Agreement (SSA) with one of the foremost players in the Japanese market. The agreement, formalised on January 30, 2025, is set for an initial term of three years, with the potential for extension by an additional two years. 

Larsen & Toubro (L&T) has reported 13.26% rise in net profit at Rs 2419.38 crore for Q3FY25 as compared to Rs 2136.18 crore for the same quarter in the previous year. Total income of the company increased by 10.22% at Rs 36181.66 crore for Q3FY25 as compared to Rs 32826.52 crore for the corresponding quarter previous year. On consolidated basis, the company has reported 11.31% rise in its net profit at Rs 4001.03 crore for the quarter ended December 31, 2024 as compared to Rs 3594.51crore for the same quarter in the previous year. Total income of the company increased by 17.28% at Rs 65635.65 crore for Q3FY25 as compared to Rs 55965.57 crore for the corresponding quarter previous year.