Stocks In News: Biocon, JSW Steel, Zomato And More

Biocon

Biocon Biologics, a subsidiary of Biocon, has successfully integrated its acquired biosimilars business in over 70 countries across emerging markets, effective from July 1. This integration has significantly expanded the scale and scope of Biocon Biologics’ operations. The biosimilars portfolio that was previously managed by Viatris in these markets now falls under the commercial organization of Biocon Biologics. Going forward, the subsidiary will collaborate with both existing and new partners to enhance its presence and expand its business in these countries.

 

JSW Steel

JSW Steel has been announced as the replacement for HDFC in the BSE Sensex, starting from July 13. Additionally, JBM Auto Components, Zomato, and APL Apollo Tubes will replace HDFC in the S&P BSE500, S&P BSE 100, and S&P BSE 200 indices, respectively.

 

Tata Power Company

Tata Power Company, a subsidiary of the Tata Group, has been awarded a Letter of Award to implement a smart metering project for the Chhattisgarh State Power Distribution Company. The project is valued at Rs 1,744 crore and is scheduled to span over a period of 10 years.

 

Zomato

Zomato, the prominent food delivery company, has initiated the liquidation process of its subsidiary, PT Zomato Media Indonesia, in Indonesia. This subsidiary is not considered a significant part of the company, and its liquidation will not have any impact on the overall revenue of Zomato.

 

Asian Paints

Asian Paints has established a joint venture named Asian White Cement Holding, through its subsidiary, Asian White Inc FZE, in Fujairah Free Zone, UAE. The purpose of this joint venture is to engage in the manufacturing, trading, and exporting of white cement. Asian White Cement Holding has obtained the necessary Trade License and Certificate of Incorporation for Asian White Inc FZE from the Government of Fujairah.

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