Venus Remedies partners with US-based West Pharma
- The Chandigarh-based pharmaceuticals and injectables manufacturer has partnered with US-based West Pharma to launch Cloti-Xa syringes in India. The syringe reportedly protects healthcare workers and patients from accidental needlestick injuries, which could prevent the spread of infections like HIV and Hepatitis B & C.
- The stock gained nearly 5% intraday, before closing 3.3% higher. It has risen nearly 90% so far this year.
Bandhan Bank posts robust Q4
- The Kolkata-based bank reported loans and advances worth ₹87,054 crore in Q4FY21, up 21% YoY.
- At ₹77,972 crore, the bank’s total deposits grew 37% YoY. The bank’s CASA ratio improved to 43.4% from 36.8% last year. The stock rose nearly 1% today but has fallen about 18% so far in 2021.
IDBI surges on divestment proposal
- Shares of the PSU lender soared 10% after reports that the government may consider divesting 45.5% stake in the bank. The government holds a 94.7% stake in IDBI Bank through LIC.
- The stake sale is part of the government’s strategic divestment plan of its public sector assets. The stock has risen nearly 20% so far this year.
Tata Motors rises on strong JLR growth
- As per Tata Motors, its luxury brand Jaguar Land Rover has registered a 12.4% YoY growth in retail sales in Q4FY21. The company said that China sales jumped 127% over a lower base. Sales in North America grew 10.4%, whereas sales in the UK (-6.8%) and Europe (-4.9%) declined year-on-year.
- For FY21, JLR’s global retail sales were down 13.6% YoY owing to the pandemic. Shares of Tata Motors rebounded sharply from yesterday’s fall and were up 5.3% today.