Stocks to watch: Infosys, Lupin, Fiem Industries in focus

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Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 20 points at the opening bell. Overseas, Asian stocks traded mixed on Tuesday as investors weighed a record-breaking run in the Dow and S&P 500 against concerns that the delta virus variant will choke global growth. Investors continue to monitor the Covid situation in Australia, with the country’s largest cities currently under lockdown. Here is the list of top stocks that could be in focus on August 16.

Infosys: Infosys has agreed with TidalScale Inc, leading software-defined-server technology startup, to invest an additional sum of US$ 0.45 million (till date, the Company had invested US$ 3.0 million) taking the cumulative investment to US$ 3.45 million as of date), subject to necessary closing conditions.

Lupin: The pharma major announced that it has received tentative approval from the United States Food and Drug Administration (FDA) for its Abbreviated New Drug Application (ANDA) Brivaracetam Tablets, 10 mg, 25 mg, 50 mg, 75 mg, and 100 mg, to market a generic equivalent of Briviact Tablets, 10 mg, 25 mg, 50 mg, 75 mg, and 100 mg, of UCB Inc.

Suven Life Sciences: The company informed that NCE SUVN-502 (Masupirdine), a potent, selective, brain penetrant and orally active, novel chemical entity has planned initiation of global Phase 3 clinical trial for the treatment of Agitation and aggression in Alzheimer’s type dementias with expected enrollment of patients from middle of September 2021.

Fiem Industries: The company said that it is a sole supplier to Ola Electric for Head Lamps, Tail Lamps, Indicators, Rear Fender Assembly and Mirrors.

HLE Glascoat: The company informed that ICRA – the Credit Rating Agency has upgraded rating to A (for long term facilities) and A2+ (for short term facilities) with a stable outlook.

Adani Enterprises: Adani Enterprises’ (AEL) wholly-owned subsidiary –Adani Road Transport (ARTL) will acquire a 49 per cent stake in Maharashtra Border Check Post Network, with an option to acquire additional stake subject to regulatory approval. The acquisition is at an enterprise value of Rs 1,680 crore implying an attractive EBITDA multiple of 7x.

Olectra Greentech: Consortium of Olectra Greentech and Evey Trans (EVEY) has received Letter of Award (LOA) from one of the State Transport Authorities for 50 Electric Buses under FAME-I1 scheme of the government of India. This order for supply of 50 Electric Buses is on Gross Cost Contract (GCC) / OPEX model basis for a period of 10 years (Contract Period). Value of this contract is approximately Rs 70 crore to the Company.

Roto Pumps: The company has received approval from the board of directors for further investment up to Euro 500,000 as further share capital in Roto Pumpen Gmbh, a wholly-owned subsidiary in Germany. The board also approved investment up to Rs 445.00 lakh as a further Share capital in Roto Energy Systems, a wholly-owned subsidiary in India in one or more tranches from time to time.