Daily Brief Thematic (Sector/Industry): #108 India Insight: Adani Shifts to Cash Flow Growth and more

In today’s briefing:

#108 India Insight: Adani Shifts to Cash Flow Growth, Hiranandani Pune JV, Burman Controls Religare
Themes of India: Cement Industry Q3 Update
APAC Healthcare Weekly (Feb 23)- Ono Pharma, Shionogi, Samsung Biologics, Celltrion, CSPC, Mayne

#108 India Insight: Adani Shifts to Cash Flow Growth, Hiranandani Pune JV, Burman Controls Religare

Adani Group shifts to cash flow-backed, high-capex growth phase aiming for leadership in renewable energy, ports, and infrastructure.
Hiranandani Group enters Pune with a Rs 7,000 crore JV project, developing a 105-acre integrated township in Hinjewadi.
The Burman family takes control of Religare Enterprises (RELG IN) , plans Rs. 2,000 crore capital infusion, rebranding, and new management team

Ultratech Cement (UTCEM IN) saw a resurgence in demand starting in December. CFO Atul Daga characterized this as a “positive storm,” fueled by continuous demand increases that boosted cement prices.
Ambuja Cements (ACEM IN) is strategically expanding capacity, aiming for cost leadership, and leveraging group synergies to reach 140 million tons of cement capacity by FY28.
JK Cement Ltd (JKCE IN)’s proposed acquisition of 60% equity in Saifco Cements marks their penetration in Jammu-Kashmir(capacity- 0.42 Mn tons), which is expected to improve profitability, increase production capacity.

Ono Pharmaceutical received FDA approval for Romvimza for the treatment of symptomatic tenosynovial giant cell tumor. Shionogi obtains domestic approval for digital therapeutic app, Endeavorride for ADHD.
Samsung Biologics received FDA and European Commission approval for Prolia biosimilar. Celltrion received European approval for Prolia and Eylea biosimilars. Cosette Pharmaceuticals is acquiring Mayne Pharma for A$7.40 per share.
CSPC Pharmaceutical granted an exclusive license to Radiance Biopharma to develop and commercialize antibody drug conjugates SYS6005 in selected geographies. Cipla received FDA approval for anti-cancer drug Nilotinib capsules.

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