LIC Raises Stake in Pharma Heavyweight to 7.7%, Latter Up 2% in Weak Market

By Malvika Gurung — The state-owned insurance behemoth Life Insurance Corporation (NS:) of India has raised its shareholding in the pharmaceutical heavyweight Dr. Reddy’s Laboratories (NS:) by over 2% over a period of time. The Hyderabad-based pharma major informed on Monday that LIC has increased its stake in the company to 7.7% from around 5.65%. … Read more

Activist Investor Jana Partners Has an Almost 10% Stake in Freshpet

© Reuters. By Sam Boughedda The Wall Street Journal reported late afternoon Thursday that activist investor firm Jana Partners has a nearly 10% stake in Freshpet (NASDAQ:). According to the report, citing sources, Jana plans to encourage the pet-food business to make changes in order to boost its stock price and explore a sale. The … Read more

Swaraj Engines Tops Over 2-Yr Peak, Hits New High As M&M Sets to Hike Stake

By Malvika Gurung — Shares of the diesel engines and components manufacturer Swaraj Engines (NS:) (SEL) zoomed 11.88% to Rs 1,897 apiece and rallied almost 14% to hit a new 52-week high of Rs 1,962 apiece on Wednesday. The scrip has jumped the most since June 2020. The stock rallied after the mega-cap auto manufacturer … Read more

Nordstrom Adopts Poison Pill Days After Mexican Peer Accumulates Nearly 10% Stake By

© Reuters. By Staff El Puerto de Liverpool’s (BMV:) recent 9.9% stake in Nordstrom (NYSE:) is clearly not being taken lightly in the retailer’s boardroom. Today, Nordstrom announced it will adopt a limited-duration shareholder rights plan. The plan comes five days after Liverpool disclosed that it owns 15,755,000 shares of the U.S. retailer. While … Read more

Wix Gains on Activist Stake, Take-Two Falls on GTA6 Hack By

© Reuters. Pre-Open Stock Movers: Virios Therapeutics, Inc. (Nasdaq: VIRI) 63% LOWER; announced topline results from its FORTRESS (Fibromyalgia Outcome Research Trial Evaluating Synergistic Suppression of Herpes Simplex Virus-1 (HSV-1)) study of oral IMC-1 for the treatment of FM. Overall, the FORTRESS study did not achieve statistical significance on the prespecified primary efficacy endpoint of … Read more

Germany in Talks Over Increasing Stake in Uniper – Company Statement

By Scott Kanowsky — The German government is eyeing a potential increase of its stake in ailing energy firm Uniper SE (ETR:), as the company struggles to remain solvent following a cut to key Russian gas supplies. In a statement on Wednesday, Uniper said its main shareholders, which include Berlin, and Finnish peer Fortum (HE:), are … Read more

Porinju Veliyath Raises Stake in Micro-Cap Portfolio Stock, Shares Jump 5%

By Malvika Gurung — Shares of the plywoods manufacturing company Duroply Industries (BO:) jumped 5% to Rs 182.5 apiece on Thursday, after ace investor Porinju Veliyath and his wife raised their shareholdings in the company. The marquee investor and fund manager Porinju Veliyath and his wife Litty Thomas picked a total of 1.58 lakh additional … Read more