Auto stocks, Bharti Airtel, Lupin, UPL in focus

Auto stocks: Auto stocks will be in focus as auto companies will start announcing monthly sales numbers for June starting from 1 July 2022.

Bharti Airtel: Competition Commission of India (CCI) has approved the proposed investment of Rs. 52,243.80 million (USD 700 million) by Google International LLC in the Company, vide issuance of upto 71,176,839 equity shares of face value of Rs. 5/- each by the Company at a price of Rs. 734/- per equity share.

Lupin: Global pharma major Lupin announced that it has received approval from the United States Food and Drug Administration (FDA) for its Abbreviated New Drug Application (ANDA), Paliperidone Extended-Release Tablets 1.5 mg, 3 mg, 6 mg, and 9 mg, to market a generic equivalent of Invega Extended-Release Tablets, 1.5 mg, 3 mg, 6 mg, and 9 mg, of Janssen Research and Development, LLC.

UPL: UPL has acquired 100% holding of Nature Bliss Agro Private Limited (NBAL) and accordingly NBAL becomes wholly-owned subsidiary of the company. NBAL proposes to carry out the business of manufacture and sale of crop protection and allied products. The same has synergy with the existing business activities of UPL.

REC: REC announced that its board has recommended bonus shares issue in the ratio of 1:3 and has fixed record date of 18 August 2022 for ascertaining entitlement eligibility of shareholders for bonus shares.

Blue Star: CARE Ratings reviewed the credit ratings assigned to the company's long term, short term credit facilities and Non-Convertible Debentures. Credit rating has been reaffirmed at AA+, the rating outlook has been revised from 'Negative' to 'Stable'. The rating for Commercial Papers and Short-term Bank Facilities (Non-fund based) have been reaffirmed as CARE A1+ (A One Plus).

Globus Spirits, Tilaknagar Industries: Globus Spirits has entered into an arrangement for strategic, technical, manufacturing and marketing tie-up with the aim to offer an integrated service to operate the plant at the envisaged rated capacity of 140 KLPD distillery asset owned by Tilaknagar Industries located at Shrirampur, Ahmednagar, Maharashtra (Distillery Asset).

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