Stocks to Watch: Suven Pharma, Reliance Power, Laurus Labs, Paytm, and more | Stock Market News
Here’s a quick look at stocks likely to be in focus in today’s trade.
Suven Pharmaceuticals: Suven Pharmaceuticals Limited has acquired a 56 percent controlling stake in NJ Bio Inc, a US-based Contract Research and Development Manufacturing Organisation (CRDMO) specialising in antibody-drug conjugates (ADC) and emerging modalities. The ₹535 crore investment underscores Suven’s commitment to expanding its footprint in the high-growth ADC market and strengthening its position as a technology-driven CDMO. According to the company, this strategic move aligns Suven as a key player in the ADC outsourcing market, valued at $2.7 billion (approximately ₹22,815 crore), which is projected to grow at over 25 percent annually.
Reliance Power: Reliance Power Ltd, led by Anil Ambani, announced that its subsidiary Samalkot Power Ltd has fully settled its outstanding interest of $15.48 million on a term loan with the Export-Import Bank of the United States. The repayment resolves the subsidiary’s default, thereby curing Reliance Power’s contingent liability as the guarantor of the loan. The company stated, “Consequent to the aforesaid payment by Samalkot, the default of the company as a guarantor to the aforesaid loan stands cured.”
Laurus Labs: Laurus Labs Ltd reported that its subsidiary, Laurus Bio, has entered into a definitive agreement to secure an equity investment of ₹120 crore from Eight Roads Ventures and F-Prime Capital. In addition, Laurus Labs committed to co-investing ₹40 crore at the same valuation. Promoters of Laurus Bio have also been issued share warrants, exercisable within two years of issuance at the same valuation. Furthermore, both Laurus Labs and Eight Roads Ventures have the option to invest up to an additional ₹35 crore by December 2025 under the same terms.
Larsen & Toubro: Engineering giant Larsen and Toubro (L&T) successfully overturned a customs duty demand of ₹702 crore following a favourable ruling by the Central Excise & Service Tax Appellate Tribunal, Ahmedabad. The demand arose from an earlier order by the Principal Commissioner of Customs, Ahmedabad, which denied duty exemptions to the company. L&T’s appeal was heard, and on December 5, 2024, the tribunal ruled in the company’s favour, setting aside the entire demand.
Paytm: One97 Communications, the parent company of Paytm, disclosed that its wholly owned Singapore-based subsidiary, One97 Communications Singapore Private, has sold the company’s stake in Japanese credit card firm PayPay. While the value of the transaction was not disclosed, the statement follows media reports indicating a $250 million (approximately ₹2,000 crore) deal with SoftBank Group for the stake sale.
Samvardhana Motherson: Samvardhana Motherson Ltd has announced the acquisition of a 95 percent stake in Japan-based Atsumitec for $57 million in an all-cash transaction. According to an exchange filing, the deal is expected to close by the first quarter of the next financial year. Under the agreement, a Special Purpose Company (SPC) incorporated by Atsumitec will initially acquire a 51.99 percent stake from existing shareholders, requiring a minimum threshold of 48.02 percent to proceed. As of now, the SPC has secured 31.75 percent of the stake. Failure to meet the minimum threshold will result in the deal’s termination, the company stated.
Easy Trip Planners: Easy Trip Planners, the parent company of EaseMyTrip, confirmed entering into definitive agreements for three strategic acquisitions announced earlier. These include a 49 percent stake in Dubai-based Pflege Home Health Care Center for ₹30 crore, marking its entry into healthcare and medical tourism; a 50 percent stake in Uttar Pradesh’s Jeewani Hospitality for ₹100 crore to expand hotel operations; and a 49 percent stake in Australia’s Planet Education for ₹39.2 crore to venture into the international education and student services market.
