Tips befriends Facebook
- The Bollywood music production company has inked a global music licensing deal with Facebook. Facebook and Instagram users now be able to add Tips’ music to their posts and stories.
- Recently, another music company T-Series had issued notices to social video platforms for copyright violations and warned them against using its content on their platforms. While Tips has not shared the deal value, its shares have been on a roll this year, gaining nearly 260% since 1 January. The stock gained 12.8% today.
Realty rises on PE investments
- Private equity investments in real estate could grow 30% YoY in 2021 to nearly ₹44,000 crore. This comes as welcome news for the sector, which saw high volatility in 2020 due to the pandemic.
- The investments are likely to be directed towards warehousing, affordable housing and data centres. Meanwhile, high investor confidence was seen today in real estate stocks such as IB Real Estate (+8.3%), Sobha (+5.5%), Godrej Properties (+4.1%) and DLF (+2.7%).
Dish TV pulled up for licence dues
- The direct-to-home operator received a demand notice from the government to pay ₹4,164 crore toward licence fee (from date of issuance till FY19) and interest thereon. The company has been directed to make the payment in 15 days.
- The ministry has also stated that the amount is subject to verification and audit. Meanwhile, Dish TV’s stock was down 5.7% today.
Biocon drops on USFDA deferral
- The USFDA has deferred action on a licence application by Biocon’s subsidiary and Netherlands-based Mylan for their biosimilar to drug Avastin, used to treat cancer.
- The US regulator noted that an inspection of the manufacturing facility is required, which it is unable to conduct currently due to travel restrictions. Shares of Biocon lost 3.4% today. Overall, the Nifty Pharma index (-0.2%) was the only index that ended in the red today, mainly pulled down by Biocon.