Maya Patel

Dr. Reddy's Laboratories Ltd: Toripalimab drug launched in India

Dr. Reddy's has announced the launch of Toripalimab in India on November 28, 2024, an immune oncology drug to treat adults with a rare and aggressive form of head and neck cancer. This makes India the third country after China and the US to get access to the next-generation PD-1 inhibitor. Toripalimab is a New Biological Entity (NBE) and is the only immune-oncology drug approved by major regulatory authorities including the USFDA, DCGI, and EMA for the treatment of recurrent or metastatic nasopharyngeal carcinoma (RM-NPC). In 2023, Dr. Reddy's secured exclusive rights from Shanghai Junshi Biosciences to develop and market toripalimab in 21 countries, with potential expansion to Australia, New Zealand, and nine more countries.

December 17, 2024 at 09:45 am

Konami continues winning streak with strong quarter performance

Konami Group Corporation (TYO:9766) reported another strong result for the 2QFY25 (ended Sep 30, 2024) on October 31, 2024, following record sales and profits in 1QFY25. Konami reported sales of JPY94bn, up 16% year-over-year (YoY), well above the consensus estimate of JPY91bn. Additionally, Konami reported EBIT margin of 26% as compared to the consensus estimate of 24%. This marks the fourth consecutive quarters in which Konami has beaten consensus estimates. These results were received well by markets, with stock prices increasing +6% post results till date and up +103% year-to-date.

December 16, 2024 at 12:02 pm

Oberoi Realty joins the MSCI to attract more investors

Oberoi Realty was included in MSCI Equity Indexes on November 25, 2024, as part of a review by Morgan Stanley Capital International (MSCI). The inclusion leads to increased trading volumes and improved liquidity, making the stock more appealing to both domestic and international investors. The stock reacted positively, rising c.12%, since the inclusion. The stock's upward movement is supported by favorable macroeconomic conditions, robust pre-sales growth, and strong demand in the luxury housing segment. Reflecting this optimism, several brokers have upgraded their ratings on the stock. Morgan Stanley, for instance, has raised its target price from Rs 1,900 to Rs 2,060. Additionally, Nomura initiated coverage on Oberoi Realty on December 4, 2024, with a Buy rating and a price target of INR 2,500, suggesting a 21% upside from the previous day's close.

December 13, 2024 at 09:50 am

Dixon Technologies (India) Limited : Partnership with Cellecor to produce efficient washing machines

Dixon Technologies (NSE:DIXON, BOM:540699) entered into a memorandum of understanding (MOU) with Cellecor Gadgets Limited to manufacture washing machines and their related components. Cellecor offers a vast range of products, including mobile phones, smart TVs, speakers, neckbands, TWS, sound bars, smartwatches, washing machines, and many more. The partnership, announced on October 28, 2024, would increase Dixon’s customer base in the high margin washing machine segment. In addition, Dixon aims to target improved efficiencies and increased competitiveness.

December 11, 2024 at 10:38 am

WiseTech Global Limited : Guidance revised down, Significant share sales by Directors

WiseTech Global (ASX: WTC) director Charles Gibbon has sold 1.5 million shares or 8.8% of his total holding in a block trade on 6th December, 2024 at $130.50 per share, netting almost AUD200mn. Gibbon owned about 5.5% of the company and has been a shareholder since 2005, joined the company’s board in 2006 and served as chair from 2006 to 2018. The move comes after the company’s co-founder and Gibbon's fellow director Maree Isaacs sold her 8.17% stake in RealWise Holdings on 1st December 2024, which owns 37.43% of WiseTech, to former CEO Richard White (already owns the other 92% in RealWise Holdings). The sale, equivalent to about 10.2 million shares, includes an initial payment of AUD285mn, with future quarterly payments based on WiseTech's volume-weighted average share price over up to seven years.

December 10, 2024 at 10:28 am

Cummins India Limited : Reiterates FY25 guidance, expects double-digit top-line growth

In the latest earnings call 2QFY25, Cummins India Limited (Cummins) reiterated its full year 2025 guidance. The company anticipates double-digit revenue growth, driven by strong domestic demand specially in power generation and industrial segment. Cummins is cautiously optimistic about demand recovery in domestic markets in the short term but were quite optimistic in the long term. Additionally, the company said they remains cautiously optimistic about the export demand recovery, due to the end market slowdown driven by economic and geopolitical events.

December 09, 2024 at 10:27 am

ADNOC Logistics & Services plc : Jiangnan shipyard delivers first new-build LNG carrier before schedule

ADNOC Logistics and Services plc (ADNOC L&S) has taken delivery of the first newbuild liquified natural gas (LNG) carrier on 25 November, 2024 from Jiangnan Shipyard in China of the six it ordered in 2022. The vessel named "Al Shelila" was delivered two months ahead of schedule and immediately commence service with a leading global energy trader. Boasting a capacity of 175,000m³, "Al Shelila" significantly surpasses the 137,000m³ capacity of ADNOC L&S’s existing LNG carriers and outfitted with advanced energy-efficient technologies that can reduce methane emissions by up to 50% compared to older-generation technology. The remaining five carriers are slated for delivery in 2025 and 2026.

December 06, 2024 at 10:09 am

Yangzijiang Shipbuilding secured contracts worth $2.63bn for 21 vessels

Yangzijiang Shipbuilding Holdings (SGX:BS6), a China-based investment holding and agency service company for shipbuilding and related activities, recently secured new shipbuilding contract worth USD2.63bn for 21 vessels. The contract includes six dual-fuel containerships with a capacity of 17,000 TEU, six methanol dual-fuel containerships with a capacity of 13,000 TEU, four medium-range oil tankers with a DWT of 39,000, two containerships with a capacity of 4,300 TEU, and three bulk carriers with a DWT of 45,000. These contracts are scheduled for delivery between 2027 and 2029. To date, the group has secured 119 shipbuilding contracts worth a total of USD14.27bn. The market reacted positively to the news, with stock price gaining around 4% on December 3rd.

December 05, 2024 at 11:20 am

Trent Limited: Goldman Sachs initiates coverage, expects 27% upside aided by Zudio

Goldman Sachs initiated coverage on Trent with a target price of INR8,000, on November 11, 2024, indicating a potential upside of 27% from the previous day’s close of INR6,299. Goldman opines that Trent may ride high on the back of strong performance from Zudio, which is expected to be a multi-year market share gain story with limited competitive risk. The brokerage foresees a recovery in the earnings over the next few quarters despite the moderation caused by an urban slowdown in 2QFY25. Investors reacted positively to the report, with the stock rising around 2% the next day and was up approximately 10% to-date.

December 04, 2024 at 10:18 am

Hansoh Pharmaceutical Group Company Limited : Regulator grants breakthrough-therapy status to lung cancer drug

Hansoh Pharmaceutical Group Company Limited (HKG) announced that its antibody-drug conjugate (ADC) HS-20093, targeting B7-H3, has been approved on November 1 as a Breakthrough Therapy by the National Medical Products Administration (NMPA). The proposed indication is the treatment of extensive-stage small cell lung cancer (ES-SCLC). The injection has also been approved by the US FDA as a Breakthrough Therapy for the treatment of relapsed or refractory ES-SCLC. HKG has already entered into a license agreement with GSK granting GSK an exclusive worldwide license (excluding Mainland China, Hong Kong, Macau and Taiwan) to develop, manufacture and commercialize HS-20093.

December 03, 2024 at 12:31 pm

ADNOC Drilling Company : Enersol, a JV with Alpha Dhabi, to acquire 95% stake in Deep Well

Enersol, a JV of ADNOC Drilling and Alpha Dhabi, signed an agreement on 4 November 2024, to acquire a 95% stake in Deep well services – a technology-enabled energy services company, which offers advanced technology, data analytics and automation to enhance performance and sustainability in the energy sectors – for $223mn. These investments are aimed at optimising well development for unconventional energy resources and are aligned with Enersol’s strategic vision of becoming a technology-centric platform. To date, Enersol has already invested over $750mn and is further projected to invest $560mn by end-2025. ADNOC Drilling expects equity income from Enersol to add approximately $100mn in full-year profit by end-2025.

December 03, 2024 at 12:20 pm