Skip to main content

Stock Market News - Titan Worst Performer, Motilal Oswal Gains

NEWS ALERT | Glenmark Pharmaceuticals receives tentative ANDA approval for Dimethyl Fumarate Delayed‐Release Capsules: BSE Filing
-- Glenmark Pharmaceuticals Inc., USA (Glenmark) has been granted tentative approval by the United States Food & Drug Administration (U.S. FDA) for Dimethyl Fumarate Delayed
‐Release Capsules, 120 mg and 240 mg, a generic version of Tecfidera®1 Capsules, 120 mg and 240 mg, of Biogen Inc. 

Maruti Suzuki cuts production for an eighth straight month in September - Reeling under a prolonged slowdown, Maruti Suzuki India (MSI) reduced its production by 17.48 percent in September, making it the eighth straight month when the country's largest carmaker lowered its output.


Titan Worst Performer On Nifty; Shares Fall Over 6% - Shares of Titan fell as much as 6.1 percent, the most since July 9, to Rs 1,182.55. The company said that the sales growth of its mainstay jewelry business remained muted in the quarter ended September as rising gold prices deterred buyers. Jewelry sales fell sharply in July but rose 15 percent year-on-year between August and September, the Tata Group company, which owns the Tanishq brand, informed the exchanges.

Aurobindo Pharma Recovers From 19% Fall Shares of Aurobindo Pharma rose as much as 4.8 percent to Rs 482. The stock had ended 19 percent lower on Monday. The company clarified that none of the observations that were issued by the U.S. FDA were related to data integrity and the drugmaker said it is confident of addressing them within the stipulated timeline.

Minda Industries Gains On Stake Acquisition Plans Shares of Minda Industries extended gains for the second consecutive trading session. The stock rose as much as 2.7 percent to Rs 344. The company is set to acquire a 100 percent stake of Delvis Group which is engaged in automotive lighting design and engineering for €21 million (Rs 164 crore). 

Motilal Oswal Gains After Large Trade Shares of Motilal Oswal Financial Services rose as much as 1.8 percent to Rs 620.95. About 28 lakh shares changed hands in a large trade during the pre-market session, Bloomberg data showed. Buyers and sellers were not known immediately. Of the shares traded, 33 percent were at the asking price and 29 percent were at the bid, Bloomberg data showed. 

Piramal Enterprises Extends Fall For Second Day; Shares Drop 7% Shares of Piramal Enterprises extended declines for the second consecutive trading session. The scrip fell as much as 7.1 percent to Rs 1,377. The stock dropped over 13 percent in two trading sessions. The Relative Strength Index was at 27, indicating that the stock may be oversold. 

Rupee opens lower:  The Indian rupee slipped in the early trade on Wednesday. It has opened lower by 16 paise at 71.18  per dollar versus Monday's close 71.02.

J. Kumar Infra Jumps The Most In Nearly 10 Months Shares of J. Kumar Infraprojects rose as much as 19.9 percent, the most since December 2018, to Rs 153.50. Markets regular Securities and Exchange Board of India has cleared the company from charges of misrepresenting books, according to Bloomberg report. Trading volume was more than 30 times its 20-day average, Bloomberg data showed.


Market News | Sensex | Bank Nifty | Rupee | Gold | Top Gainers 

Comments

Popular posts from this blog

Stock Market News - Nestle Falls, Lupin gains, Laurus Labs Swings

Nestle Falls After Quarterly Results Announcement Shares of Nestle India fell as much as 1.5 percent to Rs 14,260 after the company announced September quarter results.

NEWS ALERT | Infosys looking to beef up whistleblower investigation: Report -- Infosys rules out insider trading
-- Co in talks with law firms JSA Law, Khaitan & Co for investigation
-- Appointment of one or both of the above-mentioned companies, in addition to Shardul Amarchand Mangaldas already appointed
TOP GAINERS & LOSERS - 
NTPC, YES Bank and Tata Motors are the top gainers while Sun Pharma, Infosys, and IndusInd Bank are the top losers. The most active stocks included Reliance Infra, Bank of Baroda and YES Bank.
Rupee Update: The Indian rupee opened lower by 8 paise at 71.36 per dollar on Monday versus Friday's close 71.28.
Lupin share price gains on USFDA approval - The share price of Lupin gained over 1 percent in early trade on November 11 after the company received United States Food and Drug Adminis…

Stock Market News - Telecom Operators Decline, Aurobindo Pharma extended decline

Telecom Operators Decline; Vodafone Idea Slumps 14% Shares of the telecom operators declined. That comes after the Department of Telecommunications has issued a notice to telecom operators to pay their revenue share dues within three months as directed by the Supreme Court, PTI reported quoting an industry source. 
As per DoT's estimate, the liability of Bharti Airtel Group is Rs 62,187.73 crore, Vodafone Idea Rs 54,183.9 crore and BSNL and MTNL Rs 10,675.18 crore, the report added.
Aurobindo Pharma At Over Five-Year Low Shares of Aurobindo Pharma extended declines for the fourth consecutive trading session. The stock fell as much a 9.1 percent, the most in over a month to Rs 394.30, the lowest since September 2014. 


The comes after the pharmaceutical company said that the U.S. FDA issued Form 483 with 14 observations after completion of an inspection of Unit IV of the drugmaker’s Hyderabad facility. Form 483 is used by the FDA to document and communicate concerns discovered during…

Stock Market News - Vodafone Idea falls, Lupin Gains, Power Grid Gains

Vodafone Idea falls 8% Shares of Vodafone Idea fell as much as 7.5 percent to Rs 3.70. Vodafone Group Plc’s Indian venture may be headed for liquidation unless the government eases off on demands for mobile spectrum fees, Bloomberg reported quoting the company’s Chief Executive Officer Nick Read.

Lupin Gains After Offloading Japanese Business Shares of Lupin rose as much as 3.1 percent to Rs 758.80. India’s fourth-largest drugmaker by market value informed the exchanges it has entered into a definitive agreement to sell 99.82 percent of its stake in Kyowa Pharmaceutical Industry Co. to Plutus Ltd., a subsidiary of the private equity firm Unison Capital Partners, at an enterprise value of 57,361 million Japanese yen—nearly Rs 3,702.4 crore. 
That, Lupin said, would generate a post-tax net cash inflow of Rs 2,103.9 crore.
Power Grid Gains After large Trade Shares of Power Grid rose as much as 1.4 percent to Rs 194.35. About 16.6 lakh shares of the company changed hands in a large trade, B…