Top stocks in focus: Yasho Industries, Zydus Lifesciences, Sun Pharma, Bharat Forge, ISGEC Heavy Engineering

9 Mar 2022 , 07:44 AM

Yasho Industries said its board on March 16 will consider capital expenditure for a new greenfield project with a capacity of 15,500 metric tonne per annum at Bharuch, Gujarat.

Zydus Lifesciences: Zydus’ US-based biopharmaceutical arm Sentynl Therapeutics Inc has executed an asset purchase agreement for the sale of BridgeBio’s Nulibry (Fosdenopterin) for injection. Nulibry is approved by the US Food and Drug Administration (USFDA) to reduce the risk of mortality in patients with molybdenum cofactor deficiency (MoCD) Type A, an ultra-rare, life-threatening paediatric genetic disorder.

Sun Pharmaceutical Industries Subsidiary Taro Pharmaceuticals USA Inc has completed the acquisition of subsidiary companies of Galderma. The acquired subsidiaries of Galderma included Galderma Holdings Inc which was incorporated in Delaware, Proactiv YK which was incorporated in Japan, and The Proactiv Company Corporation which was incorporated in Canada. These subsidiaries sold products under the Proactiv, Restorative Elements and In Defense of Skin brands. The company paid $99.279 million for the entire transaction.

Bharat Forge said its subsidiary Kalyani Strategic Systems (KSSL) has incorporated a joint venture company – Sagar-Manas Technologies (SMTL), with open joint stock company Dastan Transnational Corporation. The joint venture will help the company to participate in joint upgradation and manufacturing/ providing solutions for marine and defence products.

ISGEC Heavy Engineering has bagged a large order for cement waste heat recovery boilers from Shree Cement in Nawalgarh, Rajasthan. The scope of work includes designing, manufacturing, and supplying of PH boiler in the pre heater exhaust and AQC boiler in the cooler exhaust. The current order for the Nawalgarh site will be the third project that Isgec has received from Shree Cement.

Bafna Pharmaceuticals Promoter SRJR Life Sciences LLP will sell 99,357 equity shares or 0.42 percent stake in the company through open market transactions. The purpose of this stake sale, which will start from March 9, is to achieve minimum public shareholding.