Mankind Pharma has received reaffirmation in credit rating for non-convertible debentures (Rs 4,600 crore) at ICRA AA+; Stable. The company has been assigned the rating ICRA A1+ and ICRA AA+; Stable for commercial papers (Rs 5,000 crore), non-convertible debentures (Rs 400 crore) and bank facilities (Rs 1,250 crore). Powered by Capital Market - Live

Mankind Pharma Ltd is up for a third straight session in a row. The stock is quoting at Rs 2631.1, up 3.76% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.3% on the day, quoting at 25867.5. The Sensex is at 84684.03, up 0.17%. Mankind Pharma Ltd has risen around 11.82% in last one month. Meanwhile, Nifty Pharma index of which Mankind Pharma Ltd is a constituent, has risen around 2.38% in last one month and is currently quoting at 23005.25, up 0.37% on the day. The volume in the stock stood at 6.1 lakh shares today, compared to the daily average of 6.37 lakh shares in last one month.The PE of the stock is 54.44 based on TTM earnings ending June 24.Powered by Capital Market - Live

The company will raise funds by way of issuance of non-convertible debentures (NCDs) and Commercial Papers (CPs) on private placement basis for an amount aggregating upto Rs 10,000 crore. The board has also constituted and authorized the Fund Raising Committee to take all necessary actions including finalization of the terms of issuance, allotment of NCDs and CPs and other related matters. Meanwhile, the company's board also approved corporate guarantees for its subsidiaries, Mankind Agritech Private, Appian Properties, Copmed Pharmaceuticals Private and Lifestar Pharma LLC. Mankind pharma is one of the largest pharmaceutical company in India, which focuses on the domestic market with its Pan India presence.Mankind pharma operates at the intersection of the Indian pharmaceutical formulations and consumer healthcare sectors with the aim of providing quality products at affordable prices. The company has 25 manufacturing facilities in India manufacturing a wide range of dosage forms, including tablets, capsules, syrups, vials, ampoules, blow fill seal, soft and hard gels, eye drops, creams, contraceptives and other over-the-counter products. The pharmaceutical company reported 10.19% increase in consolidated net profit to Rs 536.49 crore in Q1 FY25 as against Rs 486.87 crore posted in Q1 FY24.Revenue from operations stood at Rs 2,893.42 crore in Q1 FY25, up 12.20% as against with Rs 2,578.62 crore in Q1 FY24. The scrip hit all-time high at Rs 2,645 in intraday today.Powered by Capital Market - Live

The company will raise funds by way of issuance of non-convertible debentures (NCDs) and Commercial Papers (CPs) on private placement basis for an amount aggregating upto Rs 10,000 crore. The board has also constituted and authorized the Fund Raising Committee to take all necessary actions including finalization of the terms of issuance, allotment of NCDs and CPs and other related matters. Meanwhile, the company's board also approved corporate guarantees for its subsidiaries, Mankind Agritech Private, Appian Properties, Copmed Pharmaceuticals Private and Lifestar Pharma LLC. Mankind pharma is one of the largest pharmaceutical company in India, which focuses on the domestic market with its Pan India presence.Mankind pharma operates at the intersection of the Indian pharmaceutical formulations and consumer healthcare sectors with the aim of providing quality products at affordable prices. The company has 25 manufacturing facilities in India manufacturing a wide range of dosage forms, including tablets, capsules, syrups, vials, ampoules, blow fill seal, soft and hard gels, eye drops, creams, contraceptives and other over-the-counter products. The pharmaceutical company reported 10.19% increase in consolidated net profit to Rs 536.49 crore in Q1 FY25 as against Rs 486.87 crore posted in Q1 FY24.Revenue from operations stood at Rs 2,893.42 crore in Q1 FY25, up 12.20% as against with Rs 2,578.62 crore in Q1 FY24. The counter rallied 4.78% to ends at Rs 2,547.15 on Friday, 20 September 2024.Powered by Capital Market - Live

The key equity indices traded with minor gains in mid-morning trade. The Nifty scaled above the 25,450 level. Bank shares extended gains for the fifth consecutive trading session. At 11:30 IST, the barometer index, the S&P BSE Sensex was up 163.21 points or 0.19% to 83,242.56. The Nifty 50 index rose 32.50 points or 0.13% to 25,451.05. The Sensex and Nifty clocked an all-time high of 83,310.32 and 25,478.60, respectively in morning trade. In the broader market, the S&P BSE Mid-Cap index fell 0.32% and the S&P BSE Small-Cap index shed 0.02%. The market breadth was weak. On the BSE, 1,749 shares rose and 2,002 shares fell. A total of 166 shares were unchanged. IPO Update : The initial public offer (IPO) of Western Carriers (India) received bids for 22,71,20,112 shares as against 2,08,68,467 shares on offer, according to stock exchange data at 11:15 IST on Wednesday (18 September 2024). The issue was subscribed 10.88 times. The issue opened for bidding on Friday (13 September 2024) and it will close on Thursday (19 September 2024). The price band of the IPO is fixed between Rs 163 to Rs 172 per share. An investor can bid for a minimum of 87 equity shares and in multiples thereof. The initial public offer (IPO) of Northern Arc Capital received bids for 28,00,14,210 shares as against 2,14,78,290 shares on offer, according to stock exchange data at 11:15 IST on Wednesday (18 September 2024). The issue was subscribed 13.04 times. The issue opened for bidding on Monday (16 September 2024) and it will close on Thursday (19 September 2024). The price band of the IPO is fixed between Rs 249 to 263 per share. An investor can bid for a minimum of 57 equity shares and in multiples thereof. The initial public offer (IPO) of Arkade Developers received bids for 46,95,66,350 shares as against 2,37,75,719 shares on offer, according to stock exchange data at 11:15 IST on Wednesday (18 September 2024). The issue was subscribed 19.75 times. The issue opened for bidding Monday (16 September 2024) and it will close on Thursday (19 September 2024). The price band of the IPO is fixed between Rs 121 to 128 per share. An investor can bid for a minimum of 110 equity shares and in multiples thereof. Buzzing Index : The Nifty Bank index rose 0.90% to 52,684.70. The index advanced 3.28% in the five consecutive trading sessions. Bandhan Bank (up 1.85%), HDFC Bank (up 1.56%), State Bank of India (up 1.14%), ICICI Bank (up 0.76%) and IndusInd Bank (up 0.52%), Kotak Mahindra Bank (up 0.5%), Axis Bank (up 0.49%), Punjab National Bank (up 0.2%) edged higher. On the other hand, IDFC First Bank (down 1.2%), AU Small Finance Bank (down 0.17%) and Federal Bank (down 0.1%) edged lower. Stocks in Spotlight : Mankind Pharma fell 0.55%. The pharma major informed that a meeting of its board is scheduled to be held on Friday, 20 September 2024 to mull the fund raising proposal for an amount as may be decided. GPT Infraprojects declined 1.14%. The said that it has bagged a contract worth Rs 204 crore for construction of road over bridge from CAO Construction, South Eastern Railway, Kolkata. Global Markets : Most Asian shares traded higher on Wednesday as investors await the Federal Reserve's rate decision due Wednesday stateside and assessed economic data from Japan. Indonesian central bank's rate decision is also due later in the day. While Chinese markets remained relatively stable after resuming trading from an extended break, investors also looked ahead to the Bank of Japan's policy meeting later in the week. The BoJ is expected to maintain current interest rates but may adopt a more hawkish stance, signaling potential future rate hikes. Japan's imports and exports in August rose 2.3% and 5.6%, respectively, from a year ago, according to Japan's Ministry of Finance. In the United States, stock markets closed mixed on Tuesday as uncertainty persisted regarding the magnitude of the Federal Reserve's anticipated rate cut. The Dow Jones Industrial Average fell 0.04% while the S&P 500 rose 0.3%, reversing momentum from earlier in the day, when they were at or near record levels. The Nasdaq Composite, meanwhile, finished higher by 0.2%. Market participants are widely expecting the Fed to reduce interest rates, with opinions divided between a 25 or 50 basis point cut. However, bets on a larger 50 basis point reduction have been gaining momentum. Additionally, the Fed's announcement is anticipated to signal the beginning of an easing cycle, which is generally positive for risk-oriented stock markets. Powered by Capital Market - Live

Mankind Pharma will hold a meeting of the Board of Directors of the Company on 20 September 2024.Powered by Capital Market - Live

The company will raise funds through issue of non-convertible debentures, commercial papers, other debt securities or any other security or any combination thereof. Mankind pharma is one of the largest pharmaceutical company in India, which focuses on the domestic market with its Pan India presence.Mankind pharma operates at the intersection of the Indian pharmaceutical formulations and consumer healthcare sectors with the aim of providing quality products at affordable prices. The company has 25 manufacturing facilities in India manufacturing a wide range of dosage forms, including tablets, capsules, syrups, vials, ampoules, blow fill seal, soft and hard gels, eye drops, creams, contraceptives and other over-the-counter products. The pharmaceutical company reported 10.19% increase in consolidated net profit to Rs 536.49 crore in Q1 FY25 as against Rs 486.87 crore posted in Q1 FY24.Revenue from operations stood at Rs 2,893.42 crore in Q1 FY25, up 12.20% as against with Rs 2,578.62 crore in Q1 FY24. Shares of Mankind Pharma shed 0.22% to Rs 2,448.05 on the BSE. Powered by Capital Market - Live

Securities in F&O ban: Aditya Birla Fashion and Retail, Balrampur Chini Mills, Hindustan Copper New Listing: ECOS (India) Mobility & Hospitality will debut on the bourses today. The issue was open between 28 August and 30 August 2024. The price band of the IPO was between Rs 318 to 334 per share. The issue was subscribed 64.26 times. Stocks to watch: Mankind Pharma has executed a Business Transfer Agreement to transfer its over-the-counter (OTC) business undertaking on a slump sale basis to its subsidiary, Mankind Consumer Products (MCPPL). NHPC has signed a memorandum of Understanding (MoU) with the Department of Water Resources (WRD), Maharashtra Government, for the establishment of energy storage systems (pumped storage systems) along with other renewable energy sources (such as solar/wind/hybrid) with a total capacity of 7,350 MW. PDS' facilities in Bangladesh have resumed normal operations, and normalcy has returned across its partner factories in the region. The company remains positive about medium-term business prospects in Bangladesh. AU Small Finance Bank has submitted an application to Reserve Bank of India (RBI) seeking approval for a voluntary transition from small finance bank to universal bank. Cupid is looking to expand its B2C pie substantially moving forward. It aims to achieve the topline target in excess of Rs 50 crore in FY25. The company is also planning to partner with Blinkit and Zepto for better e-commerce presence. It also plans to launch almond hair oil in four SKUs among other products this month. Torrent Power has entered into a fresh MoU with the Department of Water Resources, Government of Maharashtra, for the establishment of pumped storage projects with a total capacity of 5,600 MW instead of 5,700 MW. Texmaco Rail &Infra Engineering has completed the acquisition of Jindal Rail & Infrastructure, strengthening its position in the wagons market and expanding its capabilities and product range. The final cash payment was Rs 614 crore, at a valuation of 8.1 times the FY24 EV/Ebitda. VST Industries has received in-principle approval from BSE and NSE for the issuance and proposed allotment of 15 crore equity shares as bonus shares. The bonus shares will be issued in a 10:1 ratio.Powered by Capital Market - Live

Mankind Pharma has executed the Business Transfer Agreement (BTA) on 03 September 2024 to transfer Over the Counter (OTC) Business Undertaking (defined in the BTA) of the Company as a going concern on a slump sale basis to Mankind Consumer Products (MCPPL), a wholly owned subsidiary of the Company. The completion of slump sale of OTC Business Undertaking to MCPPL is subject to pre-conditions, closing actions and other terms and conditions as specified in the BTA. Powered by Capital Market - Live

Mankind Pharma has allotted 9000 equity shares under ESOP on 14 August 2024. Consequent to the aforesaid allotment, the paid-up share capital of the Company has increased from 40,06,35,138 Equity Shares to 40,06,44,138 Equity Shares having face value of Re. 1/- each. Powered by Capital Market - Live