Stock Updates
🔸 JSW Steel has informed the exchanges that its board has approved the acquisition of 66.7% of economic interest in Australian mining company M Res NSW HCC Pty Ltd (M Res NSW) through the investment of US$120 million (~₹1,000 crore).
🔸 Life insurance industry reported 14% YoY growth in premium to ₹31,822 crore, with LIC delivering growth of 20% YoY.
🔸 Natco Pharma Q1FY25 revenues grew ~20% YoY to ₹ 1367 crore driven by export formulations which grew 37% to ₹ 1,210 crore on the back of significant traction from anti-cancer drug gRevlimid.
🔸 Hindustan Copper reported healthy performance in Q1FY25. On a consolidated basis, total operating income came in at ₹494 crore (up 33% YoY, down 13% QoQ).
🔸 Cochin Shipyard (CSL) has commenced the commercial operations at its International Ship Repair Facility (ISRF) by successful docking of the vessel ‘HSC Parali’ of the Union territory of Lakshadweep Administration.
