During the second wave of COVID-19, stocks of pharmaceutical, oxygen and other companies involved in tackling COVID-19 have been in focus. But today, there may be some pharmaceutical stocks that may draw more attention of investors.
Given is the list of stocks:
Cipla and Jubilant Life Sciences: Both these stocks may buzz when the market opens today. This is because the Karnataka government on Tuesday served notices to pharmaceutical majors Cipla and Jubilant warning them of legal proceedings for not supplying adequate quantities of Remdesivir injection bottles as directed by the Government of India. In a notice to the pharmaceutical companies, the Principal Secretary in the Revenue department N Manjunatha Prasad said they were ordered to deliver 62,000 vials of Remdesivir injection, but they supplied very less consignment. Cipla and Jubilant were ordered to supply 30,000 and 32,000 vials respectively by May 9. However, they supplied only 10,840 and 17,601 vials on May 8.
Dr Reddy's Laboratories: The company on Tuesday said it has inked a licensing pact with Eli Lilly and Company to produce Baricitinib in the country for treatment of COVID-19. The Hyderabad-based firm said it has entered into a royalty-free, non-exclusive voluntary licensing agreement with Eli Lilly and Company for the manufacture and commercialisation of the drug in India.
Godrej Consumer Products Ltd’s (GCPL): Sudhir Sitapati has been named as new managing director (MD) and chief executive officer (CEO). After the last MD and CEO of the company, Vivek Gambhir stepped down on June 30, 2020, Nisaba Godrej took over the additional role of CEO and MD. The company informed the exchange that Sitapati will take over as the MD and CEO of the company for a period of five years with effect from October 18, 2021.
Siemens: The company on Tuesday posted an over 90 per cent rise in consolidated net profit at Rs 334.4 crore for the March quarter, mainly on the back of higher revenues. The consolidated net profit of the company stood at Rs 175.7 crore in the quarter ended March 31, 2020, it said in a BSE filing. Total income rose to Rs 3,540 crore in the March quarter from Rs 2,722.1 crore in the same period a year ago.The company follows the October to September financial year.
Kalpataru Power Transmission Ltd (KPTL): The company on Tuesday reported multifold jump in consolidated net profit at Rs 187 crore for March quarter 2020-21 due to higher revenues. The net profit of the company in the year-ago period was Rs 13 crore, it said in a BSE filing. Total income in the quarter rose to Rs 4,104 crore from Rs 3,540 crore in the same period a year ago. The consolidated net profit of the company in 2020-21 too rose to Rs 662 crore from Rs 390 crore in 2019-20. Total income in the year increased to Rs 13,016 crore from Rs 12,720 crore in 2019-20.
(With input from agencies)