STOCK TO WATCH Bayer acquires remaining 25% stake in Bayer Z | Stock Market News🇮🇳

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Bayer acquires remaining 25% stake in Bayer Zydus Pharma

Pharma majors Bayer Pharmaceuticals Private Limited and Zydus Lifesciences Limited (formerly Cadila Healthcare) on May 2 announced the conclusion of their joint venture (JV) - Bayer Zydus Pharma Private Limited (BZPPL). The announcement came after Bayer acquired the remaining 25 percent stake in Bayer Zydus Pharma to secure full ownership.
The 50:50 joint venture was established on January 28, 2011, for the sales and marketing of pharmaceutical products in India. Bayer is now securing full ownership of the entity, as per pre-agreed JV terms.
The JV successfully leveraged the strengths of both companies to better serve the fast-growing Indian market, said the company in a release.

Adani Enterprises received 2 show cause notices from Sebi

Adani Enterprises Ltd on Thursday said that the company received two show cause notices from markets regulator Securities and Exchange Board of India (Sebi) as part of its ongoing investigation in Hindenburg's report against the conglomerate.
In its Q4 earnings release, Adani Enterprises said that during the quarter ended March 31, 2024, the company received notices from Sebi alleging non-compliance with provisions of the Listing Agreement and LODR (Listing Obligations and Disclosure Requirements) Regulations pertaining to related-party transactions with respect of certain transactions with third parties as well as the validity of peer review certificates of statutory auditors with respect to earlier years.

Coal India Q4 net profit rises 26% to Rs 8,640.5 crore

Coal India Ltd (CIL) on May 2 reported a 26-percent rise in consolidated net profit at Rs 8,640.5 crore for the quarter ended March 31, 2024. The government-owned company had reported a net profit of Rs 6,869.5 crore in the year-ago period.
There was rise in CIL's bottom line despite its revenue from operations falling nearly 2 percent to Rs 37,410.4 crore in the quarter under review, from Rs 38,152.3 crore in the same quarter last year.
Moreover, CIL's consolidated sales also fell to Rs 39,654.4 crore in the January-March period from Rs 40,371.5 in the corresponding period of the previous fiscal year, a decrease of 1.8 percent.
The state-owned company also said that the board has declared its third interim dividend for the financial year 2023-24 at Rs 5 per share.

Coforge to buy 54% in Cigniti Technologies at Rs 1,415 per share
Coforge is set to acquire a 54-percent stake in Cigniti Technologies at Rs 1,415 per share, the company informed the exchanges on May 2.
The share price of Rs 1,415 represents a premium of 3 percent over Cigniti's May 2 closing price of Rs 1,372.65 on the BSE.
The firm, which has signed a definite agreement with the IT services management company, believes the acquisition will improve company's operating margins by 150-200 bps by FY27 and help it grow to a $2-billion company.