Market Buzz: Firm cites US court ruling on Myrbetriq patent for stock fall by GEPL Capital
Stocks in News
* ZYDUS LIFESCIENCES: The company addressed the recent US court ruling on the Myrbetriq patent case, stating it is evaluating the potential impact. It clarified that no negotiations are underway, as the issue is patent-related, and attributed the stock decline to the Delaware court's decision.
* LUPIN: Lupin confirmed a US court order in the Myrbetriq patent case and stated it is not aware of any undisclosed information. The company is notifying exchanges within the required timeline and is evaluating the order’s impact, with updates to follow once the assessment is complete.
* PAYTM: Vijay Shekhar Sharma, MD and CEO, has voluntarily given up his 2.1 crore ESOPs, leading to a one-time ESOP expense of Rs.492 crore in Q4 FY25.
* GENSOL ENGINEERING: The company acknowledged SEBI’s interim order and confirmed compliance, with Anmol Singh Jaggi and Puneet Singh Jaggi stepping down from their management roles in Gensol as directed.
* ULTRATECH CEMENT: The company signed a deal to acquire a 26% stake in Ampin C&I Power Eight Pvt. for ?25.5 crore to meet its green energy needs and reduce energy costs.
* BHARAT HEAVY ELECTRICALS: The company signed a technology transfer agreement with Bhabha Atomic Research Centre for separator applications in electrochemical cells.
* DEEPAK NITRITE: Deepak Chem Tech, a subsidiary, has allotted 1.63 crore convertible redeemable preference shares at Rs.100 each to Deepak Phenolics, its wholly owned subsidiary.
* MSTC: The company has received an income tax demand of Rs.178.4 crore, including Rs.27.9 crore in interest, for the assessment year 2025.
Economic News
* Chinese giants like Haier, Shanghai Highly agree to minority stakes under Indian FDI norms: Chinese firms like Shanghai Highly and Haier are now more willing to accept Indian conditions for expansion, including minority stakes in joint ventures, due to escalating US tariffs and the lure of India's large market. Shanghai Highly is reviving talks with Voltas for a manufacturing joint venture, while Haier is considering selling a majority stake in its Indian operations.
* Centre looks to attract US cos planning to exit China: India is actively pursuing US companies seeking to relocate manufacturing from China, aiming to capitalize on global supply chain shifts in sectors like electronics and pharmaceuticals. The government is also encouraging Indian companies to target the US market, preceding bilateral trade agreement negotiations. Electronics industry sees a significant opportunity, but Vietnam's strong supply chain poses a challenge.
Global News
* Survey shows U.S. reshoring costs too high, with tariffs risking recession: A CNBC Supply Chain Survey reveals that U.S. companies are unlikely to benefit from reshoring as a result of President Trump's tariffs. Over half of respondents cited high costs as the main reason for not reshoring, with 61% preferring to relocate supply chains to low-tariff countries. The survey also highlights concerns over labor shortages, potential price hikes, and order cancellations, with 63% warning of a recession due to tariff impacts. While major firms are investing in the U.S., most companies find reshoring prohibitively expensive and are adjusting for a more cautious consumer.
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