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mukul agrawal reshuffles portfolio increasing stakes in three companies
Ace investor Mukul Agrawal has significantly reshuffled his portfolio in the September quarter, increasing his stakes in Hind Rectifiers, Lux Industries, and KDDL. He reduced his holdings in at least 20 companies and is no longer listed as a shareholder in three firms, including Tasty Bite Eatables and Raymond. Agrawal's total disclosed stakes span nearly 56 companies, valued over Rs 6,754 crore.
Adani Infra to acquire significant stake in PSP Projects for Rs 685 crore
Dr Reddy’s Labs, JSW Steel, Tata Power, PSP Projects, Strides Pharma, UPL, and Aegis Logistics are in focus on Thursday due to significant market developments. PSP Projects is set to see a major shift as Adani Infra (India) has signed agreements to acquire up to a 30.07% stake from promoter Prahladbhai S Patel for Rs 685.4 crore, alongside an open offer for an additional 26% stake at Rs 642.06 per share.
Strides Pharma secures NCLT approval for OneSource specialty pharma listing
Strides Pharma has received approval from the National Company Law Tribunal (NCLT) for OneSource, India"s first specialty pharma CDMO, which will now move towards listing on stock exchanges. This integration, supported by an equity commitment of Rs 801 crore ($95 million), values OneSource at $1.65 billion. Shareholders will receive one share of OneSource for every two shares held in Strides, with the listing expected by the end of FY25.
ketoconazole market growth driven by product launches and rising demand
The ketoconazole market, valued at $106.24 million in 2022, is projected to grow at a CAGR of 3.1% through 2030, driven by rising demand for skin care drugs and increased product launches. The oral ketoconazole segment is expected to see significant growth, particularly in the APAC region, due to a busy lifestyle and a growing population. Major players include Mylan Inc., Johnson & Johnson, and Teva Pharmaceutical Industries.
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