Bandhan Bank receives bid for NPAs

The Markets Today in a nutshell

• Domestic benchmark indices ended on a negative note.
• Most IT and pharma shares bucked the trend. Positive Asian stocks failed to boost sentiment as the hawkish comments from the RBIs MPC minutes spooked investors. Investor sentiment nosedived after latest data showed that over 11 million new COVID-19 cases were reported in December worldwide. The new infections were not confined to a region, but were spread across all continents, barring Africa.

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News you could use

? Strides Pharma to deleverage balance sheet
Strides Pharma’s Singapore arm received deferred consideration of Rs 525 crore for Australian operations sale in 2019. The proceeds will be utilized for deleveraging the balance sheet, the company said in an exchange filing.

? Zydus Lifesciences receives approval from USFDA for pulmonary diseases
The company received a final nod and 180-days shared exclusivity from US FDA for Selexipag tablets for the treatment of pulmonary arterial hypertension (PAH, high blood pressure in the vessels that carry blood to the lungs) to delay disease progression and reduce the risk of hospitalisation. The drug will be manufactured at the group’s formulation facility in Ahmedabad.

? Bandhan Bank receives bid for NPAs
Bandhan Bank announced receiving bids worth Rs 801 crore from an asset reconstruction company (ARC) for the written-off portfolio with an outstanding of Rs 8,897 crore.

News from the IPO world?

• Kfin Tech IPO subscribed 2.59 times in Day 3
• Zaggle Prepaid files DRHP with SEBI for IPO
• Sula Vineyards shares settle 7% lower at Rs. 331 on debut amid weak sentiment

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