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Stocks In News: JSW Group, UltraTech Cement, Biocon And More

From JSW Group for its new joint venture with SAIC Motor Corp. Ltd to UltraTech Cement, here are some buzzing stocks that you must check out before the opening bell.

Edited By : Malika Sahni | Updated: Dec 1, 2023 07:47 IST
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JSW Group Forms EV-focused Joint Venture with SAIC Motor Corp

JSW Group is set to secure a 35% stake in a new joint venture with SAIC Motor Corp. Ltd, the parent company of MG Motor India, marking a strategic move into the electric vehicle (EV) arena. The partnership aims to prioritize electric vehicle development and intends to become the majority shareholder within a two-year span, providing JSW Group with a coveted entryway into the expanding EV industry.

UltraTech Cement Acquires Kesoram Industries’ Cement Business

UltraTech Cement, a flagship entity of the Aditya Birla Group, has finalized the acquisition of Kesoram Industries’ cement business through a share-swap arrangement. Under this agreement, UltraTech will issue one share for every 52 shares of Kesoram, offering a price of ₹173.15 per share, signifying a substantial 34% premium over Kesoram’s previous closing price. The deal, valued at approximately ₹7,600 crore, encompasses the assumed debt from Kesoram.

Biocon Biologics Completes Integration of Viatris’ Biosimilars Business

Biocon’s subsidiary, Biocon Biologics, has successfully integrated Viatris’ biosimilars business across 31 European nations. The subsidiary had previously acquired Viatris’ global biosimilar business in November of the preceding year.

Infosys Collaborates with Shell for Sustainable Data Centers

Infosys, a prominent IT player, has unveiled a partnership with Shell to introduce immersion cooling services aimed at fostering environmentally sustainable data centers.

Wipro Redefines Lab Processes with Amazon Web Services

Wipro has announced its collaboration with Amazon Web Services (AWS) to reimagine laboratory processes within the life sciences industry, aiming to shape the future of this sector.

Power Grid Corp Secures Transmission System Projects in Rajasthan

Power Grid Corp, a government-owned electric services company, has emerged as the successful bidder to establish two inter-state transmission system projects in Rajasthan, operating under the build, own, operate, and transfer framework.

LTIMindtree Selected by Metasphere for Smart Sewer Management

LTIMindtree, a technology consulting and digital solutions firm, has been chosen as a strategic partner by Metasphere, specializing in wastewater applications, to scale its intelligent sewer management platform.

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First published on: Dec 01, 2023 07:47 AM IST

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