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Shares of the Hyderbad-based drugmaker rose as much as 2.86 percent to Rs 2,334 after it enteres into an agreement with UCB India, a biopharmaceutical firm, to co-promote and distribute drug to treat epilepsy in India.
Dr Reddy's Labs and UCB India will distribute Briviact (brivaracetam), which is approved as an adjunctive therapy for the treatment of partial-onset seizures in epilepsy patients who are 16 years of age and older.
Buyers and sellers were not immediately known
Source: Bloomberg
Shares of the Mangalore-based private sector lender rose as much as 6.35 percent to Rs 117.25 on the back of heavy volumes.
Trading volumes was more than double its 20-day average.
Shares of the Ahmedabad-based construction company rose 3.27 percent to Rs 495 after it won orders worth Rs 52.07 crore from various clients for industrial, institutional and residential projects.
The ruling of the National Company Law Tribunal is disappointing although not surprising, Cyrus Mistry's office issued statement on Tata Sons case ruling.
Cyrus Mistry's office in a statement said:
The country's largest private sector lender’s shares rose 0.35 percent to Rs 2,123 after its loan book grew at 7.75 percent sequentially in June quarter to Rs 7.09 lakh crore, HDFC Bank said in an exchange filing.
Mumbai branch of National Companies Law Tribunal (NCLT) rejected Cyrus Mistry's plea for reinstatement on Tata Sons board.
This quarter earnings will be impacted by base quarter and there will be strong momentum across auto sector, Dhananjay Sinha, head of research at Emkay Global told BloombergQuint in an interview.
Key highlights of the conversation:
Buyers and sellers were not immediately known
Source: Bloomberg
Shares of the Mumbai-based automobile company rose as much as 1.8 percent to Rs 276.10.
Jaguar Land Rover sold 52,049 units in June, up 0.9 percent (YoY), Tata Motors said in an exchange filing.
Shares of the Pune-based optical fiber cable maker rose as much as 6.58 percent to Rs 308.65 as its arm plans to acquire Metallurgica Bresciana, a European specialised optical cable manufacturer, for 47 million euros in an all-cash deal.
The acquisition is an all-cash deal for approximately 47 million euros, which is being funded through a combination of euro debt instruments and internal accruals, Sterlite tech said in an exchange filing.
Brokerages have given a thumb’s up to Sterlite Tech's new acquisition.
Emkay in a note said:
Edelweiss said:
Buyers and sellers were not immediately known
Source: Bloomberg
Shares of the country's second largest hospital chain operator rose as much as 3.8 percent to Rs 143.80 as IHH is likely to take control of Fortis Healthcare, Mint reported citing two unidentified people aware of the matter.
IHH Healthcare Bhd. has offered Rs 4,700-5,400 crore to buy at least 51 percent stake in the hospital. IHH Healthcare outbid TPG-backed Manipal Health Enterprises by placing a higher per share offer for the promoters, the report added.
Shares of the Delhi-based government-owned lender rose as much as 2.14 percent to Rs 78.60 after it invited bids for selling non-performing assets.
Punjab National Bank invited bids to sell its three non-performing accounts to recover Rs 136 crore, news agency Press Trust of India reported.
The three non-performing accounts that have been put up for sale are Gwalior Jhansi Expressways with an outstanding loan of Rs 55 crore; SVS Buildcon Rs 50 crore and Shiva Texfabs Rs 31.06 crore, the report added.
Shares of the country's second largest steel maker rose as much as 2.2 percent to Rs 565.75 after it reported June quarterly sales update.
Tata Steel's crude steel sales rose 8 percent to 2.97 million tonnes and its production jumped 7.8 percent to 3.17 million tonnes.
On Sterlite Tech's New Buy
Emkay
Edelweiss
Goldman Sachs On Voltas
Deutsche Bank On Oil And Gas
CIMB On Dilip Buildcon
Nomura On India Roads Sector
(As reported on July 6)
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— BloombergQuint (@BloombergQuint) July 9, 2018
Here’s how a #TradeWar between the U.S. and China could get ugly.https://t.co/NZxNMXyZ73 pic.twitter.com/4mqzcck5lH
— BloombergQuint (@BloombergQuint) July 9, 2018
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