Wed, Feb 17, 2021 10:02 PM
Poonawalla backed firm wants to buy additional 26% stake in Magma Fincorp
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Viking Therapeutics (NASDAQ: VKTX) has been flying on all cylinders since the beginning of the year. The company's shares are up 246% due to excellent clinical progress. It's not rare for smaller biotechs to see their stock prices skyrocket relatively quickly, but many eventually give up most, if not all, of their gains. Could Viking Therapeutics be different?
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Two mutual funds and an alternate investment fund, that are unitholders of Embassy Office Parks REIT (Real Estate Investment Trust), will vote against its resolution to raise ₹3,000 crore to acquire a business park in Chennai with an enterprise value of ₹1,269 crore on Monday.The grounds for opposition are that the proposed fund raise will be higher than the acquisition cost.
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Former Tech Mahindra India business head Jagdish Mitra has set up an AI startup with a proposed initial investment of Rs 65-80 crore. The startup is likely to commence operations in the next three months. "We will start going to customers in 8-12 months. Initially, we will invest USD 8-10 million," Mitra -- one of the contenders for the post of Tech Mahindra CEO position after CP Gurnani resigned.
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