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Franklin India May Take Over Five Years to Return Some Funds
Shares are fluctuating between gains and losses, currently trading 0.4 percent lower at Rs 7,439 and are down for the fifth day in a row.
Shares are trading 3.7 percent lower at Rs 329.95, staging a minor recovery from the lowest point of the day.
The rupee ended with gains in today's trading session, tracking positive cues from the equity markets and weakness in the U.S. Dollar.
The rupee ended at 75.64 against the greenback, as compared to Monday's close of 75.91.
The 0.3 percent appreciation in the rupee made it the fifth best performing Emerging Market currency against its peers. The South Korean Won, Malaysian Ringgit, Indonesian Rupiah, and the Philippine Peso outperformed the rupee.
The company has clarified its stance over a media report which stated that the company is under pressure owing to non-completion of its stake in Snowman Logistics by March 31, 2020.
The company has said that all of its facilities and subsidiaries are operational 24X7 and that business has been without disruption since the beginning of the lockdown.
It also added that it is fulfilling all its financial obligations through cash flows and credit limits.
Shares recovered from the day's low and now trade little changed at Rs 77.5.
The company has informed the exchanges that it has received the European Union (EU) GMP certification from the German FDA for its manufacturing facility in Khatraj in Gujarat.
The certification allows the company to market its products in all 27 member countries of the European Union, it said in an exchange filing.
The inspection was conducted by the regulator in December 2019. The approval is vaild for tablet, capsule as well as cream and ointment.
Shares are off the day's high but are trading with gains of 1.1 percent at Rs 164.65, up for the eighth straight session.
Lets take a look at how benchmarks across Europe have opened:
The ‘Best Is Behind’ For Consumer Discretionary Stocks, Says Kenneth Andrade
The Hyderabad-based drug-maker has informed that it has received an approval from the U.S. FDA for two Abbreviated New Drug Applications (ANDA). The two ANDAs are for the TLE 400 and TLE 600 tablets.
The approval has been received under the President's Emergency Plan for AIDS Relief (PEPFAR), as per the company's press release.
The TLE 400 had already received a WHO pre-qualification.
Shares surged to the day's high, gaining as much as 4.3 percent to Rs 444.05.
The company has informed the exchanges regarding the launch of the generic version of Bausch Health's Apriso capsules in the U.S. market.
The said drug is used in the maintenance of remission of ulcerative colitis in adults.
Mesalamine Extended-release capsules had an annual sale of about $290 million in the U.S. market as of March 2020.
Shares recovered from the day's low and now trade 0.45 percent lower at Rs 853.
Shares of Interglobe Aviation gained as much as 2.6 percent to Rs 935.85, while SpiceJet was locked in a second straight 5 percent lower circuit at Rs 41.2.
Shares of UPL fell as much as 8.44 percent to Rs 344.10 and it is also the worst performing stock on the Nifty 50 index.
The pharma company's net profit fell 2.5 percent in the fourth quarter to 9.6 crore while Ebitda more than doubled to 14.8 crore compared to last year. Margins too expanded to 7.6 percent from 3.35 percent last year.
The company in its press release has stated that business has been impacted as the lockdown measures to combat Covid-19 have affected supply chains and production of goods.
Shares fell as much as 7.9 percent to Rs 2,810 and it is the worst performing stock on the Nifty 500 index.
The pharma company's Joint Venture - Aleor Dermaceuticals has received an approval from the U.S. FDA for its Abbreviated New Drug Application.
The ANDA is for the Clobetasol Propionate Shampoo, 0.05 percent. The said drug is used in the treatment of moderate to severe forms of scalp psoriasis in adults.
The Clobetasol Propionate Shampoo, 0.05 percent, had an estimate market size of $28 million for the 12-months ending December 2019, as per the IQVIA.
Shares recovered from the day's low to gain as much as 1 percent to Rs 889.85. The stock has had three straight days of gains until Monday.
Nifty Bank: May 21 Expiry
The company has announced that it will acquire 50 percent of PepsiCo's shareholding in NourishCo Beverages. The said company is a 50:50 Joint Venture between PepsiCo India Holdings and Tata Consumer Products.
As a result of this acquisition, the joint venture will stand terminated and NourishCo will become a wholly-owned subsidiary of Tata Consumer Products.
Shares gained as much as 2.82 percent to Rs 356.9, snapping a two-day losing streak.
The power generator and distributor reported a 2 percent decline in its revenue for the quarter gone by. A Rs 1,000 crore provision for impairment losses led to the company posting a net loss of Rs 274.92 crore in the current quarter.
Ebitda for the company rose 16.5 percent to Rs 827 crore while margins expanded to Rs 27.7 percent from 24.2 percent.
It will not declare any new dividend as the one declared on February 12, 2020 worth Rs 11.6 will be counted as the final one.
Shares gained as much as 6.3 percent - the most in eight weeks to Rs 315.60.
Shares gained as much as 3.7 percent to Rs 202.4.
Bharti Airtel Q4 Results: Fourth Straight Quarterly Loss Even As ARPU Jumps To 11-Quarter High
Indian equity markets opened with gains after Monday's declines, tracking positive cues from Asia and Wall Street. Futures on the Dow Jones are currently trading lower by 80 points.
The S&P BSE Sensex opened 1.4 percent higher at 30,450 while the NSE Nifty 50 opened at 8,961, up 1.57 percent. Both the benchmarks fell over 3 percent in Monday's trading session.
Among sectoral indices, the Nifty Bank and the Nifty Auto index opened with gains of over 2 percent while the Media, Metal, PSU Bank and Realty indices saw gains of 1-1.5 percent each.
990 stocks on the NSE have opened with gains while 315 have seen losses in the early minutes of trade.
Coronavirus India Updates: Total Covid-19 Cases Cross 1-Lakh Mark; More Than 3,100 Dead
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