FDA Issues Single Observation to Cipla’s Goa Facility Post-Inspection

Cipla announced that the United States Food and Drug Administration (FDA) conducted an inspection at its wholly-owned subsidiary, Medispray Laboratories Private Ltd, situated in Kundaim, Goa, between 14th and 20th January 2025. The inspection concluded with the issuance of a single observation under Form 483.

Details of the FDA Inspection

The FDA conducted a detailed inspection of Medispray Laboratories Private Ltd, Cipla’s Goa-based manufacturing facility, over six days. The company revealed this development in a regulatory filing, confirming that the inspection identified one observation, which was communicated through Form 483.

Cipla expressed its commitment to addressing the FDA’s observation in full compliance with the stipulated timelines. The company will collaborate closely with the FDA to ensure that the necessary corrective measures are implemented effectively.

Understanding Form 483

Form 483 is a document issued by FDA inspectors at the conclusion of an inspection to highlight observations related to a facility’s compliance with Good Manufacturing Practices (GMP). These observations are explained to the company during a closing conference.

It is important to note that Form 483 does not reflect the FDA’s final determination on the facility’s compliance status. Companies are required to respond to the FDA within 15 days, outlining their action plan to resolve the identified issues.

Cipla Share Performance 

As of January 21, 2025, 11:00 AM, the shares of Cipla are trading at ₹1,437.95 per share with a decline of 0.52% from its previous day’s closing price.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Jio Financial Services, BlackRock Joint Venture Enters Into Stock Broking Business

Jio BlackRock Investment Advisers Private Limited, a joint venture between Jio Financial Services (JFS) and BlackRock, incorporated a wholly-owned subsidiary named Jio BlackRock Broking Private Limited on January 20, 2025. This new entity will focus on stock broking activities, subject to obtaining regulatory approvals​.

Details of Investment

Jio BlackRock Investment Advisers Private Limited was established in September 2024 to primarily offer investment advisory services. Both JFS and BlackRock invested ₹3 crores each in the joint venture. The new subsidiary has been formed to expand its financial services into the broking business​.

Appointment and Collaboration

George Heber Joseph was appointed as the Chief Investment Officer (CIO) of Jio BlackRock Asset Management Company in December 2024. Furthermore, CAMS (Computer Age Management Services) has been selected as the Registrar and Transfer Agent (RTA) for the proposed Jio BlackRock Mutual Fund, subject to necessary approvals​.

Expansion Into Mutual Funds

Jio BlackRock Investment Advisers received in-principle approval from SEBI to start its mutual fund business in October 2024. This was part of the company’s diversification in the financial services sector​.

Financial Performance in Q3 FY25

For the quarter ending December 2024, Jio Financial Services reported a consolidated profit of ₹295 crore, which remained flat compared to ₹294 crore in Q3 FY24. This was a decline from the ₹689 crore profit recorded in Q2 FY25. The company’s assets under management (AUM) grew, reaching ₹4,199 crore in Q3 FY25 from ₹1,206 crore in Q2 FY25​.

On January 21, 2025, the share price of Jio Financial Services opened at ₹277.25. As of 1:31 PM, the share price stood at ₹265.30, down by ₹10.40 (3.77%) for the day, showing a 22.22% decline over the past six months but a 10.34% gain over the past year.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Upcoming IPO: SEBI Approves 6 IPOs, Including Hexaware Technologies and PMEA Solar Tech

The Securities and Exchange Board of India (SEBI) has approved 6 companies to proceed with their initial public offerings (IPOs). This development reflects the increasing dynamism of India’s capital markets, allowing companies to raise funds for their growth while providing diverse investment opportunities for the public. The approved IPOs span various industries, showcasing the strength and diversity of the Indian economy.

Hexaware Technologies and PMEA Solar Tech Among Approved IPOs

The 6 companies whose IPOs have been approved by SEBI include Hexaware Technologies, Vikran Engineering, PMEA Solar Tech Solutions, Ajax Engineering, All Time Plastics, and Scoda Tubes.

Hexaware Technologies, a renowned IT services company, plans to utilise the funds raised through its IPO to drive expansion and invest in advanced technologies, strengthening its global presence. Similarly, PMEA Solar Tech, a prominent player in the renewable energy sector, aims to allocate its IPO proceeds towards scaling solar energy projects and meeting the increasing demand for sustainable solutions.

Diverse Sectoral Representation Highlights Market Strength

The remaining 4 IPOs reflect diverse sectoral representation. Vikran Engineering, Ajax Engineering, All Time Plastics, and Scoda Tubes cater to industries ranging from manufacturing to engineering and infrastructure development. These approvals underscore SEBI’s commitment to fostering a balanced market ecosystem by enabling companies from various sectors to tap into public markets for funding.

This diversity also benefits investors, offering opportunities to participate in multiple growth stories, from renewable energy and IT to engineering and manufacturing. The capital raised through these IPOs is expected to strengthen the operational capabilities of these companies and drive sectoral development.

Conclusion

SEBI’s approval of 6 IPOs, including Hexaware Technologies and PMEA Solar Tech, demonstrates the growing vibrancy of India’s equity markets. By facilitating public listings across diverse industries, the move highlights the strength and readiness of India’s economy to support dynamic growth and attract investments.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Ethanol Blending Reached New Heights in December 2024

Ethanol blending in petrol under India’s Ethanol Blending Programme (EBP) has achieved record-breaking levels during the ongoing Ethanol Supply Year (ESY) 2024-25. The government’s focus on increasing ethanol usage marks a significant step towards reducing dependency on imported fuels.

Record-Breaking Ethanol Blending in ESY 2024-25

In December 2024, ethanol blending in petrol reached an unprecedented 18.2%, the highest ever recorded. From November to December 2024, the cumulative blending rate stood at 16.4%, with 140.8 crore litres of ethanol blended during this period. Specifically, December 2024 alone accounted for 76.6 crore litres of ethanol under the EBP programme. This milestone highlights India’s progress in its ethanol usage targets.

Steady Growth in Ethanol Supply Over the Years

The supply of ethanol under the EBP programme has witnessed a sharp rise over the past decade. Official data from the Ministry of Petroleum & Natural Gas (MoPNG) indicates that ethanol supply has grown from 38 crore litres in ESY 2013-14 to 707.4 crore litres in ESY 2023-24, with an average petrol blending rate of 14.6% in the last year. For ESY 2024-25, the total ethanol allocation, including both cycles, is approximately 930 crore litres. Achieving the government’s target of 20% ethanol blending by ESY 2025-26 will require 1,016 crore litres for blending and a total supply of 1,350 crore litres, factoring in other uses.

Conclusion

India’s Ethanol Blending Programme continues to achieve remarkable progress, with record-breaking blending rates and significant growth in ethanol supply. These milestones highlight the country’s commitment to reducing fuel imports through increased ethanol utilisation.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

 

NFO Alert: LIC Mutual Fund Introduces LIC MF Multi Asset Allocation Fund

LIC Mutual Fund is launching an investment opportunity through its LIC MF Multi Asset Allocation Fund- Direct (G), an open-ended scheme to provide diversified exposure to equity, debt, and gold assets. 

The New Fund Offer (NFO) opens on January 24, 2025, and closes on February 7, 2025, with the scheme reopening for continuous sale and repurchase on February 18, 2025.

Investment Strategy and Allocation

The fund adopts a diversified approach, allocating its portfolio as follows:

  • Equity and Equity-Related Instruments: 65-80%, with investments across large-cap, mid-cap, and small-cap stocks.
  • Debt and Money Market Instruments: 10-25%, focusing on fixed-income securities.
  • Gold ETFs: 10-25%

Additionally, the scheme may invest in Silver ETFs, REITs, and InvITs, adjusting allocations tactically based on market conditions.

Key Details of the Fund

  • Minimum Investment: ₹5,000, with increments of ₹1.
  • Exit Load:
    • Nil for up to 12% of units redeemed within 3 months.
    • 1% for amounts exceeding 12% if redeemed within 3 months.
    • No exit load after 3 months.
  • Fund Management: The scheme will be managed by an experienced team comprising Nikhil Rungta, Sumit Bhatnagar, and Pratik Harish Shroff.
  • Benchmark: 65% Nifty 500 TRI, 25% Nifty Composite Debt Index, and 10% Domestic Gold Price.

Why Consider This Fund?

The LIC MF Multi Asset Allocation Fund caters to investors seeking long-term capital growth with reduced volatility. Its benefits include:

  • Diversification: Allocation across equity, debt, and gold to manage risk and optimize returns.
  • Systematic Investment Options: SIPs start ₹100 daily, promoting disciplined investment habits.
  • Tax Efficiency: Classified under equity taxation, potentially reducing tax liability.

Balancing Opportunities and Risks

While this fund promises diversification, investors must remain mindful of market risks. Equity components may face stock market volatility, debt segments are susceptible to interest rate changes, and gold ETFs may experience liquidity challenges during adverse conditions. As a new fund, there is no historical performance data, making it essential for investors to align their goals and risk tolerance before investing.

Want to plan regular withdrawals? Our SWP Calculator helps you calculate how much you can withdraw while keeping your investments intact. Try it now!

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Mutual Fund investments in the securities market are subject to market risks, read all the related documents carefully before investing.

NFO Alert: Axis Mutual Fund to Launch Nifty500 Momentum 50 Index Fund

Axis Mutual Fund is launching the Axis Nifty500 Momentum 50 Index Fund, an open-ended index fund tracking the Nifty500 Momentum 50 TRI. The New Fund Offer (NFO) will be open from January 24, 2025, to February 7, 2025, and will re-open for continuous subscriptions within five business days after allotment.

Investment Objective

The scheme will provide returns that correspond to the Nifty500 Momentum 50 TRI before expenses, subject to tracking errors. The portfolio will replicate the index by investing in the same stocks and weightings as the index.

In terms of asset allocation, the fund will allocate 95-100% of its assets to stocks in the Nifty500 Momentum 50 Index and up to 5% in debt and money market instruments for liquidity purposes.

Minimum Investment and Charges

The minimum investment amount is ₹100, with additional investments in multiples of ₹1. The scheme has an exit load of 0.25% for redemptions within 15 days, with no charges for redemptions after this period. Recurring expenses are capped at 1% of the scheme’s daily net assets.

Fund Management

The fund will be managed by Karthik Kumar and Sachin Relekar. Karthik Kumar has experience at SilverTree Hong Kong and Asiya Investment, while Sachin Relekar has worked with Bandhan Mutual Fund, LIC Mutual Fund, and other institutions.

Risk Profile and Benchmark

The scheme is categorised as very high risk. Its benchmark is the Nifty500 Momentum 50 TRI, which includes stocks selected based on momentum factors within the Nifty500 universe.

This fund follows a passive investment strategy and will rebalance its portfolio within seven days of any changes in the underlying index. It will not invest in overseas securities or derivatives beyond the constituents of the underlying index. 

Plan your SBI SIP investments better! Use our easy-to-use SBI SIP Calculator and estimate future returns with just a few clicks. Your financial growth starts here.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Mutual Fund investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Waaree Energies Received a Letter of Award for 180 MWp Solar Modules

Waaree Energies, a prominent Indian solar energy company, specialises in the manufacturing and distribution of cutting-edge solar products. Renowned for its diverse range of solar solutions, the company has established itself as a leader in the Indian solar energy market. Its offerings include high-performance solar panels, inverters, batteries, and energy storage systems, among others.

Project Details

On January 20, 2025, Waaree Energies proudly announced that it had secured a prestigious Letter of Award for the supply of 180 MWp of solar modules. This significant order comes from a distinguished customer deeply engaged in the ownership, development, and operation of renewable power projects across India. The delivery of these modules is set to commence in FY 2025-26.

About Waaree Energies 

Headquartered in Mumbai, Waaree Energies operates state-of-the-art manufacturing facilities with an impressive installed capacity of 13.3 GW for solar PV modules, including 1.3 GW from Indosolar. The company also boasts a robust 5.4 GW PV cell capacity in Gujarat and is in the process of constructing a cutting-edge 6 GW wafer-to-module manufacturing hub in Odisha.

Expanding its global footprint, Waaree Energies is set to establish a formidable solar PV module manufacturing presence outside India, with plans to develop a 1.6 GW facility in Houston, Texas. This facility is poised for expansion to 3 GW by fiscal year 2026 and further to 5 GW by fiscal year 2027.

Waaree Energies Q2 FY25 Results

Waaree Energies reported a 17% year-on-year growth in net profit for Q2 FY25, reaching ₹375.6 crore, up from ₹320.1 crore in Q2 FY24. Revenue remained stable at ₹3,574.4 crore, slightly higher than the previous year’s ₹3,537.8 crore. 

Total income rose to ₹3,663.5 crore from ₹3,558.5 crore, while total expenses increased to ₹3,164.6 crore due to higher material and finance costs. The company’s board has approved an investment of up to ₹600 crore in its subsidiaries to strengthen infrastructure for renewable power projects and expand its bidding pipeline.

Share Price Performance 

At 10:24 AM today, Waaree Energies Ltd. shares traded at ₹2,641.75 per share on the NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Nazara Technologies Secures ₹495 Crore in Funding from Existing Investors

Nazara Technologies, an Indian gaming and sports media powerhouse headquartered in Mumbai, Maharashtra, operates across the interactive gaming, esports, and gamified early learning sectors. 

Fund Raising of ₹495 Crore

On January 20, 2025, Nazara Technologies announced that Arpit Khandelwal, founder and managing partner of Plutus Wealth Management, alongside Mithun Sacheti, founder of CaratLane, have collectively invested ₹495 crore via Axana Estates LLP. 

This investment triggers a mandatory open offer due to their collective stake reaching a significant 25.47%, as per regulatory requirements. The preferential allotment, priced at ₹990 per share, grants Axana Estates a 5.4% stake in Nazara Technologies, as disclosed in a stock exchange filing.

Multiple Holdings in Nazara Technologies 

With this transaction, Plutus Wealth Management now holds a 10.92% stake, Junomoneta Finsol, an associate of Plutus Wealth, possesses 1.7%, and Khandelwal owns 7.45%. Their combined stake exceeds the 25% regulatory threshold, resulting in the open offer requirement.

Before this deal, Khandelwal and Sacheti, through personal investments and associated entities, held approximately 21% of Nazara Technologies. As part of the agreement, 50 lakh shares will be allocated to Axana Estates.

Nazara Technologies Q2 FY25 Results

Nazara Technologies reported a 33% decline in consolidated net profit for Q2 FY25, falling to ₹16.24 crore from ₹24.18 crore in the same period last year. However, operating revenue rose by 7% to ₹318.94 crore. 

The company saw a loss of ₹1.86 crore from discontinued operations, compared to a profit of ₹1.68 crore in Q2 FY24. Total expenditure increased by 11%, reaching ₹321.27 crore. The gaming segment grew by 9.34%, generating ₹114.05 crore in revenue, while the esports segment saw a 5.66% rise, contributing ₹181.76 crore.

Share Price Performance 

At 10:23 AM today, Nazara Technologies Ltd. shares traded at ₹1,036.85 per share on the NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Strides Pharma Secures USFDA Nod for Acetaminophen and Ibuprofen

Strides Pharma Science Limited, headquartered in Bengaluru, India, is a prominent pharmaceutical company specialising in the manufacturing of pharmaceutical products, over-the-counter (OTC) drugs, and nutraceuticals. Its diverse product portfolio includes soft gel capsules, hard-gel capsules, tablets, as well as dry and wet injectables.

Strides Pharma Unit Gets USFDA Nod

On January 20, 2025, Strides Pharma announced that its step-down wholly-owned subsidiary, Strides Pharma Global Pte. Ltd., Singapore, has received a coveted approval from the United States Food and Drug Administration (USFDA) for its Acetaminophen and Ibuprofen tablets (125 mg/250 mg, OTC).

The company confirmed that this product is bioequivalent to the reference listed drug, Advil Dual Action with Acetaminophen (125 mg/250 mg, OTC), marketed by Haleon US Holdings LLC.

Statement From Strides Pharma Company

This milestone further enriches Strides Pharma’s portfolio of OTC products, the company stated. “By introducing a dual-action pain relief option, we aspire to cater to a wider patient demographic, delivering effective and accessible solutions for pain management,” said a company representative.

The tablets will be manufactured at the company’s state-of-the-art flagship facility in KRSG, Bengaluru.

Details About NSAID

The combination of Acetaminophen and Ibuprofen offers relief from a variety of ailments, including headaches, dental pain, menstrual cramps, muscle aches, and arthritis. 

“Ibuprofen, a nonsteroidal anti-inflammatory drug (NSAID), works synergistically in this formulation by inhibiting the body’s production of natural substances responsible for inflammation. This action effectively reduces swelling, pain, and fever,” the company explained.

Strides Pharma Q2 FY25 Results

Strides Pharma reported a strong turnaround in Q2 FY25, posting a net profit of ₹93.7 crore compared to a net loss of ₹149.45 crore in the same period last year. 

Revenue from operations grew 20% YoY to ₹1,201.11 crore, driven by new product launches and a 26.2% surge in US revenues to $75 million. EBITDA rose 31% to ₹235.8 crore, with margins improving to 19.6% from 17.5% a year ago.

Share Price Performance 

At 10:22 AM today, Strides Pharma Science Limited shares traded at ₹586.00 per share on the NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Jupiter Hospitals Expands to Thane with New Hospital Land Purchase

Jupiter Life Line Hospitals Limited is a premier multi-speciality tertiary and quaternary healthcare provider operating under the esteemed “Jupiter” brand in India. Established in 2007, the organisation manages three state-of-the-art hospitals located in Thane, Pune, and Indore, collectively offering an operational bed capacity of 950 as of September 2024.

Acquired Land For ₹400 Crores

Jupiter Life Line Hospitals Ltd. has acquired a prime parcel of land spanning approximately 8,433 square metres in Ghodbundar, Mira Road, Thane district. The forthcoming hospital, designed to cater to underserved regions such as Dahisar, Mira Bhayandar, and the Vasai Virar Municipal areas, underscores the company’s vision of accessible and quality healthcare.

About Jupiter Life Line Hospitals Ltd 

As of January 1, 2025, the company operates an impressive 1,061 beds, maintaining a commendable 67.2% occupancy rate as of September 30, 2024. The proposed facility is anticipated to add a further 300 beds to its capacity, with completion targeted within approximately four years.

This ambitious project entails a capital investment of ₹400 crores, to be primarily funded through internal accruals. The ultimate financing structure will be subject to the Board of Directors’ discretion, adhering to regulatory approvals.

Jupiter Life Line Hospitals Q2 FY25 Results

Jupiter Life Line Hospitals Ltd. reported outstanding financial results for Q2 FY25, with consolidated net profit soaring 52.91% YoY to ₹51.50 crores and revenue from operations rising 22.57% to ₹322.57 crores. 

Profit before tax surged 66.55% to ₹68.9 crores, while EBITDA grew 23.5% to ₹76.6 crores with a robust 19.2% margin. For H1 FY25, total income increased 20.5% to ₹612.8 crores, EBITDA expanded 22.3% to ₹141.9 crores, and PAT rose 9.6% to ₹96.1 crores.

Share Price Performance

At 10:20 AM today, Jupiter Life Line Hospitals Ltd. shares traded at ₹1,530.00 per share on the NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.