L&T, M&M, telecom stocks in focus

Larsen & Toubro (L&T) announced the closure of the strategic divestment of its Electrical & Automation (L&T E&A) business to Schneider Electric, a global player in energy management and automation. The significant and complex divestment deal, announced in May 2018 has been completed after receiving the requisite regulatory approvals and fulfilment of necessary conditions.

Mahindra & Mahindra (M&M) said that in view of the COVID-19 pandemic, the completion of sale/disposal of Neo Solren Private Limited (NSPL) is expected by September 2020.

Telecom stocks will be in focus as the Supreme Court is all set to deliver its verdict in the matter pertaining to the repayment of adjusted gross revenue (AGR) dues by telecom companies today, 1 September 2020. A bench led by Justice Arun Mishra will deliver the judgement.

 

Biocon's subsidiary Biocon Biologics India announced the U.S. launch of Semglee (insulin glargine injection) in vial and pre-filled pen presentations, approved to help control high blood sugar in adult and pediatric patients with type 1 diabetes and adults with type 2 diabetes.

Bharat Dynamics reported net loss of Rs 78.04 crore in Q1 June 2020 as against net profit of Rs 65.55 crore in Q1 June 2019. Total income declined 87.89% to Rs 62.63 crore.

Zensar announced that it has been granted a US patent for its direct conversation platform which is ZenVerse. The patent, granted by the US Patent and Trademark office (USPTO), is on the idea of ZenVerse which is designed to be a direct platform or channel for the entire organization to interact with the organization's leadership including CEO, CXOs.

BEML has bagged a order from Ministry of Defence for supply of 330 High Mobility Vehicles, for Pinaka Project at a value of Rs. 842 crore. Pinaka is a multi-barrel rocket launcher developed indigenously for the Indian Army and produced in India by involving Public Sector and Private Sector Defence Industries.

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