Religare Enterprises

Former chairman and managing director of Religare Enterprises Limited (REL) Sunil Godhwani has been arrested in connection with a 2020 case related to fraud worth Rs 800 crore. Godhwani, who was already in judicial custody in a case registered by the Economic Offences Wing of the Delhi Police for allegedly misappropriating funds of Religare Finvest Ltd (RFL), was taken on a production remand and then arrested, the police said on Tuesday.

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Zydus Lifesciences

Zydus Lifesciences said it has received final approval from the US Food and Drug Administration (USFDA) to market Adapalene and Benzoyl Peroxide topical gel is used to treat acne, in the US market. A combination of Adapalene (a retinoid) and Benzoyl Peroxide (an antibiotic and skin-peeling agent), the gel is used to decrease the number and severity of acne pimples.

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Wockhardt

The pharmaceutical company has appointed Deepak Madnani as the Chief Financial Officer with immediate effect on June 7. The company has taken this decision after Pramod Gupta has informed that considering his health reasons he will not be able to continue as the Chief Financial Officer.

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Hindustan Copper

The company restarted mining operations at the Surda mine in Ghatshila, Jharkhand on June 7. The recommencement of operations is after the renewal of the lease by the Government of Jharkhand and obtaining the required Environment Clearance from the Ministry of Environment.

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Zee Entertainment Enterprises

Life Insurance Corporation of India (LIC) acquired additional two lakh equity shares in the company via open market transactions on June 6. With this, LIC’s shareholding in the company stands increased to 5.008%, up from 4.998% earlier.

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Sharika Enterprises

The company has bagged a purchase order from Voith Hydro Private Limited. The company will supply a 220KV XLPE cable package for Voith Hydro Naitwar Mori Project for a total value of Rs 4.6 crore.

RITES

The transport infrastructure consultancy and engineering company signed a memorandum of understanding (MoU) with Grands Trains DU Senegal (GTS-S.A), a railroad company of Senegal, for technical cooperation in the railway sector including rail transportation, supply of rolling stock, railway infrastructure development, modernization of workshops, IT solutions for railway operations, and up-gradation of signalling, telecommunication, and rail monitoring systems.

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Cineline India

The company said in an exchange filing that the board of directors approved the issuance of up to 27 lakh warrants for Rs 35.10 crore to promoters through preferential issues. These warrants are convertible into equity shares within 18 months for Rs 13 per share. The company will also monetise Eternity Mall, at Nagpur for Rs 60 crore.

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Rate sensitive stocks

Rate sensitive stocks such as banks, financial services, auto, and realty will be under watch on June 8 ahead of the interest rate decision by Monetary Policy Committee. Experts expect a 40-50 basis points hike in repo rate, while the commentary by the Reserve Bank of India will also be closely watched by the market.