Stocks to watch: M&M Finance, Dr Reddy’s, Welspun, Biocon, JP Associates, Zee

Mahindra & Mahindra Financial Services: The company reported a 7% year-on-year increase in overall disbursements, which amounted to ₹4,430 crore. Business assets of the company stood at approximately ₹1,05,250 crore in the month, growing by 23% YoY in May.

Dr Reddy’s Laboratories: The company's subsidiary Aurigene Pharmaceutical Services, a global CRDMO, has opened its biologics facility in Hyderabad, offering process development and clinical scale manufacturing capabilities.

Welspun Corp: The company announced that its associate entity EPIC has signed multiple agreements worth SAR 1.65 billion (about ₹3,670 crore) with Saudi Arabian Oil Co. (Aramco) for the supply of steel pipes.

Zee Entertainment: The company is planning to raise capital to fund its growth. The company will consider raising funds by issuing equity or other convertible papers via a private placement, a QIP, or a preferential issue, it said in an exchange filing.

Biocon: The company has secured approval from the US FDA for its complex injectable product micafungin, available in 50mg and 100mg vials. The antifungal drug is used to treat fungal or yeast infections.

Adani Power: Mahan Energen, a wholly owned subsidiary of the company, has approved the merger of Stratatech Mineral Resources with itself. Stratatech Mineral Resources is a wholly owned subsidiary of group company Adani Enterprises.

Interglobe Aviation: IndiGo, India’s largest airline owned by Interglobe Aviation, plans to add Mauritius to its portfolio of foreign destinations and increase connectivity to Thailand. The airline is also awaiting the delivery of Airbus A321XLR aircraft in 2025.

Bharat Forge: The Australian Securities and Investments Commission has approved the deregistration of Kalyani Strategic Systems Australia Pty (KSSL Australia).

Kalyan Jewellers: The company has acquired the remaining 15% stake in its e-commerce subsidiary Enovate Lifestyles from Rupesh Jain, which operates under the brand Candere, for ₹42 crore.

Wipro: The IT firm has appointed Bruno Schenk as the country head and managing director for Switzerland. Schenk will succeed René Mulder, who has decided to pursue opportunities outside Wipro.

Jaiprakash Associates: The Allahabad bench of the National Company Law Tribunal has admitted ICICI Bank and SBI's insolvency plea against the company.

Amber Enterprises: The company is set to invest ₹2,000 crore in a PCB manufacturing facility in India, following its acquisition of a majority stake in Ascent Circuits. The investment is part of Amber’s transition from a residential air-conditioning manufacturer to a diversified electronics goods maker. The company plans to develop a portfolio of PCBs for various applications in India’s electronics manufacturing industry.

MOIL: The company announced record sales of manganese ore in May 2024 at 2.15 lakh tonnes, registering a growth of 41% over May 2023.

3i Infotech: The company's subsidiary 3i Infotech Saudi Arabia LLC has not been able to pay two installments for April and May 2024 due to cash flow issues, the company announced. Consequently, the country's Zakat, Tax and Customs Authority (ZATCA) has initiated a mandatory collection process and blocked immigration of employees of the subsidiary and other government portal services.

Bajaj Electricals: HDFC Mutual Fund bought 7.3 lakh equity shares of the company at an average price of ₹930 per share on Monday. Norges Bank, on behalf of the Government Pension Fund Global, sold 7,35,809 equity shares at an average price of ₹929.97 per share.

Fiem Industries: The company's promoters Rahul Jain and Aanchal Jain sold 5 lakh shares each of the company at an average price of ₹1,170.61 per share and ₹1,170.3 per share, respectively.

Sansera Engineering: MMRFIC Technology, a group company of the firm, has opened a new R&D facility in Bengaluru integrating semiconductor packaging, precision PCB assembly, and testing.

Century Textiles and Industries: The company's subsidiary, Birla Estates has incorporated a wholly owned subsidiary, Vibhavya Properties, to acquire and develop real estate projects.

Suraj Estate Developers: The Mumbai-based realty firm has appointed Palak Dani Mansotra as its chief marketing officer and Mohit Ramsinghani as chief business and strategy officer, effective from 3 June.

Capacite Infraprojects: The company said its board has approved the appointment of whole time director Rohit Katyal as chairman and deferred the decision on raising funds up to ₹100 crore via NCDs.

IFGL Refractories: The company's board has appointed Sikander Yadav as chief financial officer and re-designated Amit Agarwal as VP-Finance and Accounts. Earlier, Amit Agarwal was serving as the chief financial officer.