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Investing in Paytm, Biocon, Ashok Leyland, RIL, Vedanta, IIFL Finance, and Additional Stocks

<p><strong>Securities to Monitor on March 15:</strong> After the sell-off on Wednesday, the bulls rallied strongly on Thursday, especially in the larger markets that had seen heavy pressure in the previous days. Shares of Paytm, Vedanta, IIFL Finance, RIL, and Blue Star will be the main topics of discussion in today’s session.</p>
<p><img decoding=”async” class=”alignnone wp-image-510708″ src=”https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-investing-in-paytm-biocon-ashok-leyland-ril-vedanta-iifl-finance-and-additional-st.jpg” alt=”theindiaprint.com investing in paytm biocon ashok leyland ril vedanta iifl finance and additional st” width=”1129″ height=”847″ title=”Investing in Paytm, Biocon, Ashok Leyland, RIL, Vedanta, IIFL Finance, and Additional Stocks 12″></p>
<p><strong>RIL:</strong> According to a regulatory filing, RIL said that it has reached an agreement to purchase Paramount Global’s whole 13.01% interest in regional entertainment network Viacom 18 Media for around Rs. 4,286 crore.</p>
<p><strong>Paytm:</strong> Paytm obtained a third-party application provider license from the National Payments Corporation of India on Thursday, the eve of the deadline of March 15th for Paytm Payments Bank to stop operations. Paytm’s license will provide an additional payment option to its users via its app after its banking business, Paytm Payments Bank, was shut down for noncompliance with regulations. In related developments, sources indicate that Paytm may cut its workforce numbers by 20%. But according to the business, this is just a “routine” personnel review.</p>
<p><strong>Biocon and Eris Lifesciences:</strong> On Thursday, both businesses announced that Eris Lifesciences, a firm that specializes in branded formulations, will acquire the domestic branded formulation business of Biocon Biologics, Biocon’s biosimilar subsidiary, for ₹1,242 crore. This debt-financed purchase would open the door for Eris to enter the roughly ₹30,000 crore Indian injectables industry. According to the company’s exchange filing, the acquisition would also put two well-known insulin products, Basalog and Insugen, under Eris’s management.</p>
<p><strong>Ashok Leyland:</strong> For $50 million, Creador, a private equity group that specializes in business investments in South and Southeast Asia, will buy a 19.6% stake in Hinduja Tech Ltd., a subsidiary of Ashok Leyland that provides worldwide mobility engineering R&D services. Hinduja Tech’s post-money equity value will be $255 million as a consequence of this transaction. According to the firm, the cash injection would allow Hinduja Tech to improve its state-of-the-art facilities, expand its reach internationally, and strengthen its skills in research and development.</p>
<p><strong>Vedanta:</strong> According to research by Credit Sights, a division of FitchSolutions, the company’s planned corporate demerger may face major challenges from creditors and minority shareholders. According to the research, there might be significant obstacles from creditors and/or minority shareholders to Vedanta Ltd.’s proposed demerger of its other operations. These could cause delays or perhaps cause the transaction to fail. It also points out that since the demerger’s announcement in September 2023, there haven’t been many updates on its status.</p>
<p><strong>Novartis India:</strong> The business, which is a division of the enormous Swiss pharmaceutical corporation Novartis AG, is now negotiating with potential distributors for the forthcoming introduction of Asciminib. According to Amitabh Dube, the company’s Managing Director and Country President, this innovative medication for chronic myeloid leukemia (CML) is a first-of-its-kind. It targets the ABL myristoyl pocket (STAMP). In an email exchange with Mint, Dube said that the therapy would be made available in India by the end of the month, but he would not provide any specifics on possible collaborations for the brand. “We are getting ready for the Asciminib launch in India this month,” he said. Still, it’s too soon to talk about brand alliances in India.</p>
<p><strong>IIFL Finance:</strong> In response to a direction from the Reserve Bank of India (RBI) on March 4, which instructed IIFL Finance to cease new gold-backed loans and related off-balance-sheet financing activities, ratings agency Fitch put IIFL Finance on a “Rating Watch Negative” (RWN) on March 14. The RWN indicates that when the watch is resolved, the rating may either stay the same or decline. The significance of these limits would depend on how long they lasted and whether they had any knock-on impacts on other aspects of IIFL Finance’s business, according to a news statement from Fitch.</p>
<p><strong>Religare Enterprises:</strong> Religare Enterprises’ intention to add ₹15 crore in fresh capital to its subsidiary, MIC Insurance Web Aggregator, has alarmed proxy advice company InGovern. The results of the postal vote are expected on March 23. Religare is presently seeking shareholder approval for this capital injection via share subscription. The Religare board has not provided any financial or value information on MIC, nor has it justified the cash infusion, according to InGovern’s study report.</p>
<p><strong>J Kumar Infraprojects:</strong> Up from its previous forecast of 15%, the Mumbai-based business expects a 16–17% rise in sales in the next fiscal year. Nalin Gupta, the managing director of the firm, said that a strong order book supports these growth projections. The firm projects that it will have orders worth around ₹19,000 crore by the end of the current fiscal year, and it anticipates receiving orders for ₹7,000–8,000 crore the following year. Gupta conveyed assurance about the organization’s advancement toward its objective of attaining billion-dollar earnings by the fiscal year 2027. Additionally, he said that the business expects its EBITDA margins to remain between 14 and 15 percent.</p>
<p><strong>IRB Infrastructure Developers:</strong> On Thursday, March 14, IRB Infrastructure Developers Ltd. announced that GIC Affiliates had agreed to sell Cintra, a division of the Spanish construction giant Ferrovial, a 24% investment in IRB Infrastructure Trust. Ferrovial said that the purchase price of the share will be $810 million, or around ₹6,720 crore. Ferrovial believes that by the end of April 2024, the agreement will be completed.</p>
<p><strong>Oil marketing companies:</strong> As of March 15, 6 AM, the Center has slashed the price of gasoline and diesel by Rs 2 per liter.</p>
<p><strong>RailTel Corporation of India:</strong> The business has been awarded a work order of Rs 113.46 crore by the Odisha Computer Application Centre (OCAC).</p>
<p><strong>InterGlobe Aviation:</strong> Through a partnership with Qantas Airways, the business launched 11 additional codeshare routes around Australia.</p>

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