Stocks To Watch: PFC, Lupin, Rites, Hindustan Zinc, Dr. Reddy’s, BEL, Paytm & More

Popular companies like Rites, PFC, Hindustan Zinc, Paytm, Hero MotoCorp, and Brigade Enterprises are among the top 10 stocks that are probably going to be under the attention of market observers on Thursday, December 7.

Easy Trip Planners

In an ongoing effort to provide customers with greater value, EaseMyTrip.com collaborates with Vi, the top telecom operator. Through this agreement, Vi customers will be able to book flights, hotels, trains, buses, and cabs via the Vi App and receive unique deals from EaseMyTrip.

All flight reservations will have no convenience costs as a launch promotion. Users will also shortly be eligible to receive discounts on domestic and international travel, hotels, buses, excursions, and cab reservations. Other value-added services, such as complimentary airport pickup and drop-off for hotel and flight reservations made with a minimum booking value, will be made available to consumers in the future.

Lupin

The United States Food and Drug Administration (U.S. FDA) has approved global pharmaceutical giant Lupin Limited (Lupin) to market a generic version of Chantix® Tablets, 0.5 mg and 1 mg, of PF Prism C.V. Lupin Limited (Lupin) made this announcement. The product will be produced in Lupin's Pithampur, India, plant. Varenicline Tablets, 0.5 mg and 1 mg are indicated for use as an aid to smoking cessation treatment. According to IQVIA MAT October 2023, Varenicline Tablets (RLD Chantix) has anticipated 430 million USD in sales in the United States each year.

Power Finance Corporation

The Ministry of Power, Gol., has chosen PFC Consulting Limited, a fully owned subsidiary of Power Finance Corporation Limited, as the Bid Process Coordinator (BPC) for the tariff-based competitive bidding process that will choose developers for the Independent Transmission Projects (ITPs).

PNB Housing Finance

Less than a year after its introduction, PNB Housing Finance stated that it has achieved a noteworthy milestone in its affordable housing sector, Roshni, having exceeded Rs 1,000 crore in loans. This accomplishment exemplifies the company's unwavering commitment to financial inclusion by providing low-cost loans for the acquisition of homes, land purchases, building and remodelling projects, etc., with amounts ranging from Rs 5 to 35 lacs. Individuals can apply for loans from Roshni Home Loans, which caters to self-employed and salaried people as well as those who are new to credit.

The 100th Roshni branch of PNB Housing Finance was recently opened in India. By building 60 more branches in Tier 2 and Tier 3 cities, it intends to bolster its distribution network and increase the total number of Roshni branches to 160 by the end of FY24. By FY24, PNB Housing Finance hopes to have 138 branches nationwide and expand the size of the "Prime" retail lending market. By the end of the fiscal year, the company hopes to have around 300 outlets to serve the expanding retail market.

Hero MotoCorp

Hero MotoCorp and Ather Energy, a prominent electric vehicle manufacturer in India, have partnered to establish an interoperable fast-charging network throughout the country. EV customers nationwide will be able to use VIDA and Ather Grids with ease thanks to this partnership.

Over 1900 fast charging stations spread over 100 cities will be part of the merged network. Through the "My VIDA" and Ather App, customers will be able to find and travel to the charging stations. They will be able to find suitable locations, find the closest charging station, check if it is available, and find their way to the station thanks to the universality.

Rites

To promote Multi-Modal Logistics projects in Meghalaya, RITES Ltd. and Meghalaya Industrial Development Corporation Ltd. (MIDC) have engaged into a memorandum of understanding (MoU). In accordance with the terms of the MoU, RITES will provide its experience as a project management consultant and carry out a wide variety of services to support the creation of multimodal logistics projects in Meghalaya. The partnership is expected to boost trade and transportation potential, strengthen Meghalaya's logistical infrastructure, promote economic growth, and make the region easier to reach.

Brigade Enterprises

The Central Business District (CBD) in Bengaluru's Sankey Road is the site of a premium "A Grade" office space that the firm and the land owner have developed under a joint development agreement. The project's Gross Development Value (GDV) is estimated to be at Rs. 500 crores, with a developable area of around 0.20 million square feet.

BEL

The Indian Army placed an order for AMC of Radars for Rs 580 Crore with Bharat Electronics Limited. Indian electronics and related sectors, especially MSMEs that are BEL sub-vendors, would be participating in this initiative. Since the last disclosure on September 15, 2023, the company has received additional orders totaling Rs 3, 335 crore.

These orders are related to the AMC for the Airborne Early Warning & Control system (AEW&C), Uncooled TI sights, Software Defined Radios, SWIR pay load, AMC for IACCS, Passive Night Vision Binoculars, and other products. As a result, BEL has received orders for Rs 18,298 crore for the current fiscal year 2023-24, taking into account the aforementioned.

Zydus Lifesciences

The US Food and Drug Administration (USFDA) has given Zydus Lifesciences Limited final permission to produce and distribute Methylene Blue Injection, 10 mg/2 ml and 50 mg/5 ml. The generic version of Zydus' Methylene Blue Injection, 10 mg/2 ml and 50 mg/5 ml, is ProvayBlue® Injection, a reference-listed drug (RLD).

An oxidation-reduction drug called methylene blue injection is recommended for the treatment of acquired methemoglobinemia in adults and children. Sales of Methylene Blue Injection, 10 mg/2 ml and 50 mg/5 ml, were around USD 73.4 million in the US per year (IQVIA MAT Oct-2023).

Paytm

In collaboration with major banks and NBFCs, One97 Communications Limited (OCL), the company that owns the Paytm brand, declared that it will grow its business to offer higher ticket personal and merchant loans that are aimed at lower risk and highly creditworthy clients. Paytm is expanding its network of lending partners for its loan distribution business by adding more banks and NBFCs.

The company has adjusted the portfolio origination of less than Rs 50,000, which is primarily the postpaid loan product and will now constitute a smaller portion of its loan distribution business going forward, in light of recent macro development and regulatory guidance. This was done in consultation with lending partners and in line with the company's ongoing focus on fostering a healthy portfolio.

Dr. Reddy's Laboratories

A development and licencing agreement has been reached by Dr. Reddy's Laboratories SA, a wholly-owned subsidiary of Dr. Reddy's Laboratories Ltd, and Coya Therapeutics, Inc. for the creation and marketing of COYA 302, an experimental combination therapy being studied for the treatment of amyotrophic lateral sclerosis (ALS). Coya has awarded Dr Reddy's an exclusive license to market COYA 302, an exclusive co-pack kit that combines low dosage IL-2 and CTLA-4 Ig (abatacept) for ALS in the US, Canada, EU, and UK, in accordance with the conditions of the Agreement.

This arrangement supplements the in-licensing agreement that was inked in early 2023 with Dr. Reddy's. For individuals suffering from amyotrophic lateral sclerosis (ALS), Coya maintains the right to market COYA 302 in Mexico, Japan, and all of South America. Coya will be responsible for the clinical development of COYA 302 and for seeking regulatory approval for COYA 302 for patients with ALS in the United States. Dr. Reddy's will provide Coya an upfront payment of USD 7.5 million. Dr. Reddy's will pay Coya an additional USD 4.2 million upon the FDA's initial approval of an investigational new drug (IND) application for COYA 302 for the treatment of ALS. Dr. Reddy's will pay Coya an additional USD 4.2 million upon dosing the first patient in the first Phase 2 study of COYA 302 for the treatment of ALS in the United States. According to Coya, the IND application is expected to be submitted in the first half of 2024.

In the event that all of the development and regulatory objectives are met, the Agreement additionally contains development and regulatory milestones up to USD 40 million. Moreover, Coya is entitled to receive up to USD 677.25 million in sales-based milestone payments, depending on reaching certain levels of cumulative net sales over a number of years (during the agreement's duration, subject to product commercial exclusivity). Furthermore, royalties will be paid by Dr. Reddy's to Coya based on a percentage of COYA 302's net sales, which will range from low to middle teens.

Hindustan Zinc

A second interim dividend of Rs 6 per share has been declared by Hindustan Zinc. The second interim dividend record date has been set for December 14, 2023. The dividend distribution has a total consideration of Rs 2,535.19 crore.