Stocks to Watch: ZEE Entertainment, Kalyan Jewellers, MOIL, Biocon and more

Zee Entertainment | The leading broadcaster said it plans to raise funds from the market through various avenues, including share issuance and QIPs. This will not be limited to a private placement, QIP, preferential issue or any other method or combination of methods subject to such approvals as may be required.

Kalyan Jewelers | The jewelry retailer said it has signed a definitive agreement with Rupesh Jain to acquire his 15% stake in Candere, a subsidiary of Kalyan Jewelers, for ₹42 crore. According to a stock filing, Candere will become a wholly owned subsidiary of Kalyan Jewellers.

MOLD | The state-owned company recorded a 7% increase in manganese ore production to 3.05 lakh tonnes (LT) between April and May 2024. It had produced 2.84 LT of manganese ore during the period. Last year. The cumulative sale was 3.3 LT, up 32 percent from last year’s 2.5 LT.

Biocon | The biotechnology company said it has obtained approval from the US Food and Drug Administration (FDA) for its complex, vertically integrated injectable product, micafungin, available in 50 mg and 100 mg vials. Micafungin is an antifungal medication used to treat various fungal and yeast infections.

Mahindra and Mahindra Finance | The company announced its business update for May 2024, revealing a 7% year-on-year increase in overall disbursements, which stood at ₹4,430 crore. The company reported a strong collection efficiency (CE) of 96% for the month. Additionally, the combined total assets of stages 2 and 3 remained below 10%.

Jaiprakash Associates | The National Company Law Tribunal (NCLT) on Monday admitted the insolvency plea filed by ICICI Bank and State Bank of India (SBI) against Jaiprakash Associates Ltd (JAL). ICICI Bank initiated the insolvency process in 2018 and SBI joined the process in 2022 to expedite the resolution.

Dr Reddy | The Hyderabad-based pharmaceutical giant said its arm Aurigene Pharmaceutical Services has opened a 70,000 sq ft biologics facility in Genome Valley in Hyderabad, which will offer clinical-scale process development and manufacturing capabilities.