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New Delhi, Jan 13 () Capital markets regulator Sebi on Monday exempted Mehta Family Trust from making open offer following its proposed acquisition of stake in three companies -- Torrent Power, Torrent Pharmaceuticals and Gujarat Lease Financing.
The move came after the trust has approached Securities and Exchange Board of India (Sebi) seeking exemptions from the obligation of making open offers.
"The applicant trust is eligible for exemption as sought and the same is being granted subject to certain conditions imposed in the interest of investors," Sebi said in three separate similarly-worded orders.
The trust currently does not hold any shares in these three firms. Pursuant to the scheme of amalgamation, the trust will hold over 71.2 per cent stake in Torrent Pharmaceuticals and over 53.5 per cent stake in Torrent Power through Torrent Pvt Ltd (TPL) and 29.55 per cent in Gujarat Lease Financing through TPL, Sebi noted in the orders.
The promoter and members of the promoter group of the firms include Sudhir Uttamlal Mehta, Samir Uttamlal Mehta, Jinal Sudhir Mehta and TPL, which is owned by family members of Sudhir Mehta and family members of Samir Mehta.
All the shares of TPL are held by the members of the Mehta Family.
TPL has filed before the National Company Law Tribunal (NCLT) a scheme of amalgamation of a group company Torrent Fincorp with TPL.
The trust, in its submission to Sebi, said that the objective of the proposed acquisitions are to streamline succession and promote welfare of the promoter family. Moreover, there will not be any change in control of the these firms pursuant to the proposed acquisition.
Accordingly, Sebi has granted exemption to the acquirer trust -- Mehta Family Trust -- from complying with the requirements of the takeover regulations with respect to the proposed acquisitions in Torrent Power, Torrent Pharmaceuticals and Gujarat Lease Financing.
The regulator has laid certain conditions while providing exemptions, including that the proposed acquisition should be in accordance with the relevant provisions of the Companies Act and other applicable laws.
Besides, Sebi said the trust on completion of the proposed acquisition has to file a report with the regulator within 21 days from the date of acquisition in compliance with the takeover regulations.
As per the SAST (Substantial Acquisition of Shares and Takeovers) Regulations, an entity buying 25 per cent stake in a listed firm will have to mandatorily make an open offer to buy an additional 26 per cent shares from the public shareholders. SRS
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Sebi exempts Mehta Family Trust from making open offers for Torrent Group cos

New Delhi, Jan 27 () Drug firm Torrent Pharmaceuticals on Monday reported a 2.03 per cent rise in its consolidated net profit to Rs 251 crore for the quarter ended December 31, 2019.
The company had posted a net profit of Rs 246 crore for the corresponding period previous fiscal, Torrent Pharmaceuticals said in a BSE filing.
Consolidated revenue from operations of the company stood at Rs 1,966 crore for the quarter under consideration. It was Rs 2,051 crore for the same period a year ago.
The company's board has approved the re-appointment of Samir Mehta as Executive Chairman of the company for the period of 5 years effective from April 1, 2020, the filing said.
Shares of Torrent Pharmaceuticals closed at Rs 2,026.85 per scrip on the BSE, down 0. 49 per cent from its previous close. AKT AKT BAL
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Torrent Pharma Q3 net profit up 2 pc at Rs 251 cr

<ul><li>The Nifty Pharma index gained 2.82% during the early trading hour.</li><li>These were the top gainers in the Nifty Pharma pack.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>The Nifty Pharma index gained 2.82% during the early trading hour. Pharma stocks have been on a roll over the past few days. Nifty Pharma index was trading 382.50 points higher, while the Nifty 50 index was up 44 points at 9:30 am. These were the top gainers in the Nifty Pharma pack: Lupin gained 7%, and Cipla was up 5% The shares of Lupin Limited gained 7%, and Cipla was trading 5% higher during the trade on September 18. The jump in the shares of the pharma companies came after its Irish-peer Perrigo voluntarily recalled albuterol inhalation. This development bodes well for Lupin and Cipla. Cipla launched gProventil in April this year, and Lupin’s gProAir is expected to be launched this month. Dr Reddy’s Laboratories gains 4% Dr.Reddy’s Laboratories was the third-largest gainer in the Nifty pharma pack, trading almost 4% higher. The company has announced a settlement of litigation with a unit of Bristol Myers Squibb related to patents for Revlimid (lenalidomide) capsules, used to treat various kinds of cancer. “We are pleased with the settlement agreement, and look forward to bringing a generic version of lenalidomide to market soon subject to regulatory approval for the benefit of patients,” Dr Reddy’s Laboratories North America Generics CEO Marc Kikuchi said. Other pharma stocks surge in trade as well Other pharma were also trading higher fueled by the rally in the pharma sector. Sun Pharma, Divi’s Laboratories, Aurobindo Pharma and Torrent Pharmaceuticals are all up over 2%. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-dr-reddys-laboratories-hdfc-bank-tvs-motor-vedanta-irctc-lt-bharat-forge-hal-and-more/articleshow/78179393.cms" data-type="tilCustomLink">Top stocks to watch— Dr Reddy's Laboratories, HDFC Bank, TVS Motor, Vedanta, IRCTC, L&amp;T, Bharat Forge, HAL, and more</a> <a href="https://www.businessinsider.in/sports/news/dailyhunt-app-founders-confirm-ipl-2020-associate-sponsorship/articleshow/78169667.cms" data-type="tilCustomLink">EXCLUSIVE: Dailyhunt founders confirm IPL 2020 associate sponsorship — promise new release for Josh ahead of India’s biggest cricket tournament</a>

Top pharma stock movers — Lupin, Cipla, Dr Reddy’s steal the show

The government has approved FDI worth around Rs. 4,000 Crores for four pharma and medical devices firms. 
 
The accepted list includes Torrent Pharmaceuticals and Biocon's Syngene. However, Strides Arcolab was not allowed to issue shares to non-resident and resident equity shareholders of Shasun Pharmaceuticals. Three other drug companies’ applications have been delayed. 
 
The government’s decision to allow Torrent Pharmaceuticals' Rs. 3,000 Crores proposal for increasing FII limit to 35% from 13.09% was the biggest today. Syngene's proposal to raise FDI of about Rs. 930 Crores by raising the foreign investment to 44% from the current 10% was the second biggest in the pharmacy sector today. 
 
Others given approval are Stericat Gut Strings Pvt Ltd for FDI of Rs 43.52 Crores as it wants to sell 77.5% of its shares to Groupe Peters Surgical LLC 
 
Ordain Health Care Global Pvt Ltd was also allowed FDI of Rs. 23.34 Crore to buy assets from Alkems Fertica. 
 
The list whose proposals were delayed includes Celon Laboratories, Shantha Biotechnics and Sparsha Pharma International. 
 
(Image credit: Indiatimes)

Whopping Rs. 4,000 Crores FDI boost for Indian Pharma

New Delhi, Mar 9 () Torrent Pharmaceuticals on Monday said it has received shareholders' nod to raise up to Rs 5,000 crore through various instruments, including qualified institutional placement (QIP).In a filing to the BSE, the company said around 99.299 per cent votes were cast in favour of "issuance of equity shares including convertible bonds/debentures through QIP and/or depository receipts or any other modes for an amount not exceeding Rs 5,000 crore."The approval of the shareholders was sought by way of special resolution through a postal ballot, the filing said. SID SID ANUANU

Torrent Pharma gets shareholder nod to raise up to Rs 5,000 cr

<ul><li>With economic actvities resuming gradually across the country, the power consumption data may come as a breather for stocks in the power sector. </li><li>The power consumption in July 2020 was just 2.6% short of the demand exactly a year earlier.</li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/" data-type="tilCustomLink" target="_blank">Business Insider</a>.</li></ul>The slump in power consumption has narrowed to just 2.64% in July at 113.48 billion units (BU) indicating spurt in economic activity and raised hopes that it would touch normal level this month. Power consumption in July last year was at 116.48 BU, as per power ministry data. The latest data of the power ministry shows that power consumption has improved after government started giving relaxations for economic activities and onset of summer. "The slump in power consumption has narrowed down considerably to 2.6 per cent. It is expected to be at normal level (what it was last year in same month) during August. There could be growth in power demand in coming days with expansion in economic activities," an industry expert told PTI. This data may come as a breather for stocks in the power sector that have been reeling under the pessimism about their prospects in the near term. <table style="width: 226pt;"> </colgroup> <tbody><tr> <td class="xl63" style="height:15.0pt;width:141pt">Stock</td> <td class="xl63" style="border-left-width: initial; border-left-style: none; width: 85pt;">Last one month</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">NTPC</td> <td class="xl64" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-9.19%</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Reliance Power</td> <td class="xl64" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-22.53%</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Adani Power</td> <td class="xl64" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-1.67%</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Tata Power</td> <td class="xl64" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">8.58%</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">JSW Energy </td> <td class="xl64" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-2.65%</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">CESC</td> <td class="xl64" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-11.65%</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Torrent Power </td> <td class="xl64" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">2.10%</td> </tr></tbody></table> The months of April, May and June this year witnessed low power consumption on account of lower commercial and industrial activities due to COVID-19-related restrictions. However, as the economy slowly reopened, peak power demand met, the highest energy supply during the day across the country, was at 170.54 GW in July, down 2.61% compared to a year ago. <table style="width: 247pt;"> </colgroup> <tbody><tr> <td class="xl65" style="height:15.0pt;width:48pt">Month</td> <td class="xl65" style="border-left-width: initial; border-left-style: none; width: 128pt;">Peak power demand met</td> <td class="xl65" style="border-left-width: initial; border-left-style: none; width: 71pt;">Growth (YoY)</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">April</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">132.77 GW</td> <td class="xl68" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-25%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">May </td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">166.42 GW</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-8.82%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">June </td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">164.94 GW</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-9.50%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">July</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">170.54 GW </td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-2.61%</td> </tr></tbody></table> The return of industrial demand will bode well for power distribution companies like Tata Power, Adani Power and Reliance Power, as well as the ones owned by state governments, because they make wider margin on supply to industries than to households. This will ease the stress on the financials and the need for additional loans from companies like Power Finance Corporation and Rural Electrification Corporation of India. <table style="width: 226pt;"> </colgroup> <tbody><tr> <td class="xl65" style="height:15.0pt;width:141pt">Stock</td> <td class="xl65" style="border-left-width: initial; border-left-style: none; width: 85pt;">Last one month</td> </tr> <tr> <td class="xl66" style="height: 15pt; border-top-width: initial; border-top-style: none;">Power Finance Corp</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-3.75%</td> </tr> <tr> <td class="xl66" style="height: 15pt; border-top-width: initial; border-top-style: none;">Rural Electrification Corp</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-7.35%</td> </tr></tbody></table> An earlier estimate by ratings agency <a href="https://www.livemint.com/news/india/power-demand-to-shrink-3-4-this-fiscal-as-states-return-to-lockdown-icra-11595261269964.html" data-type="tilCustomLink" target="_blank">ICRA had projected a 5% to 6% decline</a> in nationwide demand for power for the full year ending March 2021. With inputs from PTI SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/policy/economy/news/e-invoice-under-gst-these-businesses-need-not-prepare-electronic-invoices-up-to-a-revenue-of-500-crore-any-more/articleshow/77299435.cms">E-invoice under GST: These businesses need not prepare electronic invoices up to a revenue of ₹500 crore any more</a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/policy/economy/news/e-invoice-under-gst-these-businesses-need-not-prepare-electronic-invoices-up-to-a-revenue-of-500-crore-any-more/articleshow/77299435.cms"></a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/marutis-july-sales-data-sparks-hope-for-other-carmakers/articleshow/77298443.cms">Maruti's July sales data sparks hope for other carmakers</a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/marutis-july-sales-data-sparks-hope-for-other-carmakers/articleshow/77298443.cms"></a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/here-are-all-the-startups-that-raised-funding-in-july/articleshow/77297781.cms">Here are all the startups that raised funding in July</a>

Watch out for stocks like Adani Power, Tata Power, PFC and REC as electricity consumption nears pre-COVID levels

<ul><li>Pharma company stocks is the only sector gaining in the weak market on Wednesday on optimism to sell anti-covid drugs approved by the drug regulator.</li><li>The pharma regulator gave approval to sell <keyword id="10880838" type="General" weightage="20" keywordseo="molnupiravir" source="Orion">Molnupiravir</keyword> drug, which is an anti-COVID pill, for emergency use in the country.</li><li><keyword id="44642" type="General" weightage="20" keywordseo="sun-pharma" source="Orion">Sun Pharma</keyword>, <keyword id="6357157" type="General" weightage="20" keywordseo="cipla" source="Orion">Cipla</keyword>, Torrent Pharma and <keyword id="4569824" type="General" weightage="20" keywordseo="strides-pharma" source="Orion">Strides Pharma</keyword> have already announced plans to launch their version of this pill soon amid rising spread of Omicron in the country.</li></ul>Pharmaceutical company stocks were the top gainers in a weak market on December 29 as the segment cheered pharma regulator’s — Drugs Controller General of India (DCGI) — approval of anti-covid pill for emergency use in the country. The move comes amid rising spread of Omicron cases in the country. Indian companies will manufacture a generic version of Merck's anti-COVID pill Molnupiravir in India. Molnupiravir is an antiviral medication that is used to treat COVID-19 in those infected. The drug was developed by US-based firms Merck and Ridgeback Biotherapeutics. The development has brought some optimism for pharma stocks that have been underperforming the market for more than a year. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top performing pharma stocks on December 29 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% of change </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% returns in 2021 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Laurus Labs </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.38% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">53% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dr Reddy’s Laboratories </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.61% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-8% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sun Pharmaceuticals </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.58% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">38% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Lupin </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.41% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-7% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Alembic Pharmaceuticals </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.13% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-22% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Divi’s Laboratories </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.67% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">19% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cipla </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.08% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">14% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Glenmark Pharmaceuticals </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.07% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Natco Pharma </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-7% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Biocon </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.97% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-22% </td></tr></tbody></table> While Indian companies are manufacturing a generic version from US-based pill, they will market the pill under their respective brands and sell them in pharmacies and COVID-19 treatment centres. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Anti-COVID pill </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sun Pharmaceuticals </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Molxvir </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Torrent Pharmaceuticals </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Molnutor </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cipla </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cipmolnu </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Strides Pharma Science </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stripiravir </td></tr></tbody></table>Earlier this year, US-based pharma company Merck had signed non-exclusive voluntary licensing agreements with over eight Indian companies to manufacture and supply generic versions of Molnupiravir in over 100 low and middle-income countries (LMICs), including India. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/the-ipo-excitement-may-be-softer-in-2022-but-that-can-be-a-good-thing-for-investors/articleshow/88557624.cms">The IPO excitement may be softer in 2022 but that can be a good thing for investors</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/india-is-home-to-81-unicorns-now-as-mamaearth-globalbees-make-it-to-the-list/articleshow/88558418.cms">India is home to 81 unicorns now as Mamaearth, Globalbees make it to the list</a>

Sun Pharma, Dr Reddy’s Lab, Divi’s Lab and other pharma stocks rally on regulator’s nod to make anti-COVID pill

New Delhi, Nov 24 () The American health regulator has pulled up Torrent Pharmaceuticals' US-based subsidiary for violations of good manufacturing practices, including lack of properly designed equipment and packing material.
 In a warning letter issued to Torrent Pharma Inc's CEO Sanjay Gupta, the US Food and Drug Administration (USFDA) said its inspectors found significant violations of current good manufacturing practice (CGMP) regulations for finished pharmaceuticals at the company's Levittown (Pennsylvania) based manufacturing facility.
 The USFDA inspected the plant from March 11 to April 9 this year.
 "Your firm failed to use equipment in the manufacture, processing, packing, or holding of drug products that is of appropriate design, adequate size, and suitably located to facilitate operations for its intended use and for its cleaning and maintenance," the USFDA noted.
 The plant's water system was not adequately designed, controlled, maintained, and monitored to ensure it consistently produced water that met specifications and appropriate microbial limits, it added.
 "An investigation identified your water system as the source of the contamination. Subsequent sampling of your water system revealed an adverse pattern of B. cepacia contamination in your pretreatment and downstream distribution system," the health regulator noted.
 Elaborating, USFDA said that pharmaceutical water must be suitable for its intended use and routinely tested to ensure ongoing conformance with appropriate microbiological attributes.
 "Systems that produce water for manufacturing and cleaning are critical determinants of the quality and safety of your drug products. Your firm produced drug products such as rectal suppositories and oral solutions with this inadequate water system," it said.
 Besides, the company failed to thoroughly investigate any unexplained discrepancy or failure of a batch or any of its components to meet any of its specifications, whether or not the batch has already been distributed, USFDA added.
 "You lacked an adequate investigation into failing microbiological results from your water system," it noted in its letter dated October 28.
 The US health regulator did not approve of the resolutions brought in by the drug maker at the facility, terming the steps as inadequate.
 "Based upon the nature of the violations we identified at your firm, we strongly recommend engaging a consultant to assist your firm in meeting CGMP requirements," it added.
 Until all corrections have been completed and USFDA has confirmed corrections of the violations and the firm''s compliance with CGMP, the regulator may withhold approval of any new applications or supplements, it said.
 In addition, the company's failure to correct these violations may result in USFDA continuing to refuse admission of articles manufactured at the plant into the US, it added. MSS SR ABM
ABM

USFDA red flags Torrent Pharma's US-based plant for manufacturing violations

New Delhi, Apr 3 () The National Stock Exchange has shortlisted five companies, including Infrastructure and Torrent Pharmaceuticals, with higher levels of pledged shares by promoters for surveillance action.The exchange will levy a minimum margin of 35 per cent on the respective shares, including on stocks in the derivatives segment.Max India, DCM Shriram and Jindal Stainless are the other three companies identified for surveillance action, according to a circular dated April 1."The applicable rate of margin in equity and equity derivatives segment shall be 35 per cent or existing margin, whichever is higher with effect from April 8 on all open positions as on April 7 and new positions created from April 7," the bourse said.In addition, the exchange has dropped six companies from surveillance action category for having higher levels of pledged shares by promoters.These firms are - Future Supply Chain Solutions, Dish TV India, Hindustan Construction Company, Shree Renuka Sugars, Jindal Stainless (Hisar) Ltd, Sterling and Wilson Solar.It also noted that shortlisting of securities under this surveillance measure is purely on account of market surveillance and it should not be construed as an adverse action against the concerned company.In October, stock exchanges had decided to take additional surveillance measures from November 1 in order to reduce volatility in stocks having higher levels of pledged shares by their promoters.Under the framework, the exchanges would levy minimum margin of 35 per cent on the stock (including stocks in derivatives segment) where promoters pledged their holding by more than 25 per cent of the total equity capital and have a market capitalisation of over Rs 1,000 crore. SP BALBAL

NSE identifies five companies for surveillance action

<div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div>Radiohead frontman Thom Yorke has been teasing a new solo album in <a href="http://consequenceofsound.net/2014/09/thom-yorke-throws-earth-off-its-axis-with-photo-of-mysterious-record/">cryptic tweets</a> all week, and now we finally have an official announcement from the man himself. It's worth getting excited over.
That solo album is available for purchase <a href="https://bundles.bittorrent.com/bundles/d0b4beba8efc4b46f6dba119b511a5b2d5cabc96168c0dc097ee9d514059ab63">right now</a> via BitTorrent, becoming the first-ever paygated torrent in history. 
<a href="https://bundles.bittorrent.com/bundles/tomorrowsmodernboxes">"Tomorrow's Modern Boxes"</a> is a follow-up to Yorke's 2006 solo debut "The Eraser" and the first new material from the Radiohead frontman since the release of Atoms For Peace's album "Amok" in February 2013. 
In a letter co-authored by Radiohead producer Nigel Godrich, Yorke explains why he chose this unprecedented release strategy:
"As an experiment we are using a new version of BitTorrent to distribute a new Thom Yorke record.
The new Torrent files have a pay gate to access a bundle of files.
The files can be anything, but in this case is an 'album'.
It's an experiment to see if the mechanics of the system are something that the general public can get its head around ...
If it works well it could be an effective way of handing some control of internet commerce back to people who are creating the work.
Enabling those people who make either music, video or any other kind of digital content to sell it themselves.
Bypassing the self elected gate-keepers. 
If it works anyone can do this exactly as we have done.
The torrent mechanism does not require any server uploading or hosting costs or 'cloud' malarkey.
It's a self-contained embeddable shop front ...
The network not only carries the traffic, it also hosts the file. The file is in the network.
Oh yes and it's called
Tomorrow's Modern Boxes.
Thom Yorke &amp; Nigel Godrich"
The full album costs $6.00, but <a href="https://bundles.bittorrent.com/bundles/tomorrowsmodernboxes">BitTorrent users</a> can obtain the audio and video of the album's first track "Brain in a Bottle" for free. 
Radiohead <a href="http://pitchfork.com/news/33749-radioheads-in-rainbows-successes-revealed/">broke ground in 2007</a> and took the industry by surprise by releasing "In Rainbows" with a "choose your own price" model, inspiring music websites like <a href="http://bandcamp.com/">Bandcamp</a> and other outlets to adopt the technique. In 2011, they announced "The King of Limbs" at only a week's notice and released it as the world's first <a href="http://pitchfork.com/news/41561-radiohead-to-release-new-album-this-saturday/">"newspaper album</a>." It's no surprise that the release of "Tomorrow's Modern Boxes" continues this ambitious trend. 
This could be a huge step forward for BitTorrent, as the service is primarily used for sharing pirated music illegally. According to a press release:
"this partnership marks the launch of the BitTorrent Bundle with paygates, which allows artists to monetize their Bundle content directly. Fans can download the album here and pay using a credit card or PayPal in 140 currencies. The publisher covers the transaction fees and BitTorrent takes 10% after that."

Thom Yorke's New Album Is Available Now Exclusively Via BitTorrent 

Researchers from Delft University of Technology have unveiled a new torrent client that they claim is "impossible to shut down,"&#xa0;<a href="http://torrentfreak.com/bittorrent-anonymous-and-impossible-to-shut-down-141218/">TorrentFreak reports</a>.
BitTorrent is the internet file-sharing technology that virtually all illegal file-sharing sites use to let people download stolen movies and music. It works by distributing the download of a file between lots of computers, meaning that no single server hosts all of the content.
The way BitTorrent works at the moment might sound like the perfect way to shares files online, but it's actually vulnerable to police raids and and websites being seized. There are two parts to downloading a torrent file: Browsing a torrent site to find what you want, and then using a torrent client to download the file. If a torrent site goes down, then no matter how distributed the download network is, people are still going to have problems downloading content.
<a href="http://www.businessinsider.com/the-pirate-bay-speaks-out-about-the-police-raid-we-couldnt-care-less-2014-12">On December 9, The Pirate Bay was taken offline</a> after a police raid in Stockholm. Despite being one of the biggest file-sharing sites on the internet, it was still vulnerable to something as simple as a police raid on the location where it hosts part of its servers.
<a href="http://torrentfreak.com/bittorrent-anonymous-and-impossible-to-shut-down-141218/">As TorrentFreak reports</a>, university researchers have developed a new kind of torrent client that is, in theory, impossible to take offline.<a href="http://www.tribler.org/"> Tribler, as it's called</a>, is a torrent client, a program used to download files. But what's different about it is that it doesn't need to connect to a website to search for files: It all takes place within the program.

Another reason why Tribler is more secure than normal torrent sites is that it uses an anonymous network, similar to Tor, to mask its users' real identities. When you use a standard torrent client, your IP address (the number tied to your real-life location) is shown publicly. But Tribler uses onion routing, meaning it wraps data with multiple layers of encryption.
Dr. Pouwelse, one of the researchers who developed the program, praised Tribler as "an attack-resilient and censorship-resilient infrastructure for publishing." Interestingly, he also claimed that Tribler saw a 30% increase in users after the Pirate Bay was shut down.

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