Today’s Rundown

Happy Friday! Today we are taking a look at some of the biggest headlines from these industries:

1. Pharma

2. Energy

3. Space Tech

4. IPO Corner

The Markets 

Sector Overview 

• Pharmaceutical formulations company Rubicon Research files draft papers for Rs. 1085 crore IPO. The firm has two USFDA inspected R&D facilities, one each in India and Canada and two manufacturing facilities in India with accreditations from various regulatory agencies including USFDA, FDA, Maharashtra WHO-GMP accreditation and Health Canada. Rubicon Research has a portfolio of 69 products approved by the USFDA , 19 new products awaiting USFDA approval and 46 products in various stages of development. (Source: Livemint)

• Akums Drugs & Pharma IPO continues to ride the momentum having gained 3x subscription on Day 2. The retail portion was booked 7.2 times. (Source: The Economic Times)

• Sun Pharma Q1 FY25 Results: Net profits jump 40% on year to Rs 2,836 crores, India formulation sales grew 16.4% to Rs 4,144 crore factoring in about 33.1% of total consolidated sales, beating estimates. (Source: Moneycontrol)

Top Gainers:

• Suzlon Energy shares snap a strong 8 day rally, down 3% on profit booking. In the past month, shares of the company have rallied by a massive 30%. The wind turbine maker achieved it’s largest ever order book 3.8 GW in Q1 FY25 which the management said provides strong visibility for future and growth. (Source: Moneycontrol)

• Nifty Energy Index rose 1.97%, closing at Rs. 44,954.45 yesterday. The index is up 8% over the past one month. Top gainers include Adani Green Energy, Power Grid Corporation and Coal India. (Source: Business Standard)

   

• India’s first private space tech accelerator, Vaanam, was launched in Chennai by entrepreneurs Hariharan Vedamurthy and Sameer Bharat Ram in order to assist early stage businesses, inculcate “space thinking” amidst the youth and help startups reach product-market fit.  (Source: Yourstory) 

• Bengaluru based IIT Madras incubated space tech startup GalaxEye raises $6.5 million led by Mela Ventures, Speciale Invest. The startup plans to use the raised capital to launch it’s first satellite, the ‘Drishti Mission’ scheduled for mid 2025 and further develop it’s multi-sensor payload technology. (Source: Spaceimpulse)

   

• Indian space tech startups witness record-breaking funding of $126 million in 2023 amid government push as the Union Budget’s funding of Rs 1,000 crore is expected to boost the industry significantly. (Source: NDTV)

IPO Corner

• Ola Electric: The EV arm of ANI technologies, parent company of OLA Cabs, is expected to open today at a face value of Rs 10 per share, an IPO size aggregating up to Rs 6,145.56 crores. The price band for the IPO is expected to be in the range of Rs 72-76 per share. Investors can bid for a minimum of 195 shares and in multiples thereof.

• Firstcry: Brainbees Solutions, which operates Firstcry is floating it’s initial public offering on 6th August 2024 at a valuation of $2.9 billion, setting a price band of Rs 440 - 465 apiece.

This has been your friendly neighbourhood news aggregator and prime information source, Uptick. And once again thank you so much for subscribing!