Latest news with #Hyderabad-headquartered
The Hindu
13 hours ago
- Business
- The Hindu
LIC raises stake in Dr. Reddy's
Life Insurance Corporation of India's stake in Dr. Reddy's Laboratories raced past the 8% mark recently with the country's largest institutional investor acquiring an additional, more than 2% in the generic drugmaker since October 2024. From about 6.20%, the holding increased to 8.21% in a period of less than eight months through open market purchases. In terms of number of shares, LIC had acquired more than 1.67 crore during this period, the Hyderabad-headquartered pharma major said in a filing. Dr. Reddy's shares closed 3.01% higher on Thursday at ₹1,289.90 apiece on the BSE.
India.com
3 days ago
- Business
- India.com
Stock market update: MIC Electronics shares in focus as company wins order from Indian Railway
Shares of Hyderabad-headquartered MIC Electronics Limited (MICEL) are in the news today, after the company announced winning a new order from the Indian Railways. The company has received this order from Pandit Deen Dayal Upadhyay Junction of East Central Railway zone. The order includes facilities like an electronic coach indication board (CIB) on platform number 7, fare display board for the passenger reservation centre (UTS/PRS), and video wall. The total cost of the work is Rs 1.11 crore and the deadline to complete it is 6 months. Apart from this, the company has also received another order of ₹60 lakh to supply emergency lighting units (ELU) for the railways. Following the news of the new order, MIC Electronics shares opened 2.5 per cent higher at Rs 60.47 today and touched an intraday high of Rs 60.90. However, by 12:30 pm, the stock was trading 0.80 per cent lower at Rs 59.50 due to selling pressure in the market. MIC Electronics has given tremendous returns to investors in the last few years. In the last one year, this stock has given a return of 22 per cent, while in two years it increased to 203 per cent. In three years, investors have made a profit of 246 per cent. The most impressive performance has been shown by the company in five years, where it has made an unprecedented jump of about 8400 per cent. With this strong performance, the current market capitalization of MIC Electronics has reached Rs 1,434.98 crores. Equity benchmark indices Sensex and Nifty declined in early trade on Tuesday amid uncertainty on the geopolitical and global trade front. Foreign fund outflows also weighed on investors' sentiments. The 30-share BSE Sensex declined 194.65 points to 81,179.10 in early trade. The NSE Nifty dipped 62.35 points to 24,654.25. From the Sensex firms, Adani Ports, Larsen & Toubro, Bajaj Finance, ICICI Bank, Bharti Airtel and Hindustan Unilever were among the biggest laggards. Eternal, Tata Steel, Mahindra & Mahindra and IndusInd Bank were among the gainers.
The Hindu
23-05-2025
- Business
- The Hindu
Hyderabad-based Juno Joule, Germany's Select Energy ink MoU for green hydrogen, ammonia facility in AP
Hyderabad-headquartered Juno Joule Green Energy has signed an MoU with German clean energy firm Select Energy GmbH to co-develop an export-oriented green hydrogen and ammonia facility in Andhra Pradesh. Unlocking substantial industrial and economic opportunities for both Andhra Pradesh and Telangana by shaping the region as a key player in India's clean energy future is an objective behind the MoU, it said following signing of the agreement at the World Hydrogen Summit 2025 in Rotterdam on Wednesday (May 21, 2025). The agreement includes equity participation in the project's special purpose vehicle (SPV), development of ammonia export terminals and port-connected pipeline logistics, alignment with European regulatory frameworks like RFNBO and RED II/III, and a long-term offtake agreement with a blended pricing model that balances market stability and global competitiveness, it said in a press release on Thursday (May 22, 2025). Juno Joule said it is the only private Indian company exhibiting independently at the summit. It is showcasing details of an ambitious green hydrogen and ammonia project being developed at Mulapeta Port in Andhra Pradesh. With a total planned investment of $1.3 billion (₹10,000 crore), the project is to be developed in three phases to produce approximately 180 KTPA of green hydrogen by 2029, which will be converted into up to one million tons of green ammonia annually for export. Construction is expected to commence in 2026. The project is estimated to generate 5000 to 6,000 direct and indirect jobs across operations, construction, logistics, and support sectors. The facility will include an advanced desalination plant to sustainably source high-purity water from seawater, electrolysers powered by a diversified mix of solar, wind, and hydropower, and port-connected pipeline infrastructure for efficient large-scale exports. CEO of Juno Joule Green Energy Nagasharath Rayapati and Select New Energies GmbH MD Felix Danger signed the MoU, the company said.
The Hindu
22-05-2025
- Business
- The Hindu
SixUnited, Resolute Group ink pact to jointly manufacture tablets, PCs and laptops in Telangana
Hyderabad-headquartered Resolute Group and Chinese consumer electronics and intelligent networking solutions firm SixUnited signed a strategic agreement to jointly manufacture tablets, personal computers (PCs) and laptops in Telangana. The agreement, which Resolute described as a landmark move that will elevate India's global standing in electronics manufacturing, was signed on the sidelines of Computex Taipei, a prestigious trade show for information and communication technologies globally. A high-level delegation represented Telangana at the exhibition to showcase the State's progressive electronics manufacturing ecosystem. This collaboration is a major stride towards Make in Telangana mission, which aims to strengthen domestic production capabilities and enhance global exports, Resolute said in a press release without sharing details of the likely investment and number of jobs to be generated. The agreement was executed as part of a special initiative by Telangana government and formally signed by SixUnited CEO Michael and senior V-P of Resolute Group Sachin Batra in the presence of the Group's CMD Raminder Singh and Telangana government Industry & Investment Cell and SPEED (Smart Proactive Efficient and Effective Delivery) additional CEO E.V. Narasimha Reddy. The collaboration is expected to generate significant employment, facilitate advanced technology transfers and further reinforce India's emergence as a high-tech electronics manufacturing hub on the global map. SixUnited is a one-stop solution provider for global consumer electronics and intelligent networking products and brings expertise across research and development, design, manufacturing and operational services. Its product line spans notebooks, tablets, mini PCs, AIOs, PC peripherals, servers, IoT solutions and industrial control systems. It is known for pioneering innovations across smart infrastructure domains including smart cities, supercomputing, transportation, healthcare, and education. For more than 25 years, Resolute Group has been providing electronics manufacturing services to international brands, the firm said.
The Hindu
09-05-2025
- Business
- The Hindu
Dr. Reddy's open to manufacturing in the U.S. to sidestep tariff
Generic drugmaker Dr. Reddy's Laboratories is open to manufacturing in the U.S., including through acquisitions, if such a need remains, CEO Erez Israeli said on Friday. 'It is a very important market for us... we are ready for any option,' he said to media queries on whether local manufacturing will be evaluated as a measure to avoid the reciprocal tariff on pharma the U.S. is considering. Underscoring the need for clarity, with India and the U.S. discussing the tariffs, said Dr. Reddy's on the back of its strong balance sheet is always looking for opportunity to grow inorganically. 'But at this stage we do not see a viable opportunity,' he said, adding the company decided to shut down its Shreveport manufacturing unit in Louisiana as the facility did not serve the needs in terms of products and activities. 'We will love to make products in United States but not in that specific site,' he said. Dr. Reddy's has one more facility in the New York area, which is a niche plant for hormones. Future investment will depend on how the tariffs issue evolve. For now the priority of the company is to work closely with the customers and create relevant inventory, service orders and everything required to give a good service. Q4 net up 22% The Hyderabad-headquartered pharma major reported March quarter net profit rose 22% to ₹1,593.3 crore (₹1,309.8 crore). Revenue from operations increased 19.88% to ₹8,528.4 crore (₹7,113.8 crore) on all round performance. For 2024-25, net profit increased 1.38% to ₹5,655.1 crore (₹5,577.9 crore). Revenue from Operations increased to ₹32,643.9 crore (₹28,011.1 crore).
