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Shares of the Ahmedabad-based drugmaker rose as much as 2.8 percent to Rs 402.50 after U.S. FDA successfully completed inspection of its biologics manufacturing facility (Zydus Biologics) located at Zydus Biotech Park in Ahmedabad, the company said in an exchange notification.
Shares of the Anil Ambani-led company recovered from intraday lows and rose as much as 5.6 percent to Rs 19.90 after holders of its $300 million bonds approved the monetisation and exchange offer, RCom said in an exchange filing.
Pursuant to the exchange offer, the bond holders will receive monetisation proceeds up to $118 million. The balance amount of $182 million will be exchanged with $55 million bonds to be issued by Global Cloud Xchange (GCX), a foreign subsidiary of Reliance Communications, added the filing.
Shares of the Chandigarh-based wheel rim maker rose as much as 0.85 percent to Rs 1,205 after it bagged an export order worth $3.5 million from the U.S. aftermarket for steel truck wheels, Steel Strips Wheels said in an exchange notification.
The order is for supply of 76,000 truck wheels which will be manufactured at its Chennai plant, the notification added.
Shares of the Mumbai-based drugmaker rose as much as 1.3 percent to Rs 914.70 after U.S. FDA cleared its Nagpur facility.
The U.S. FDA gave its Establishment Inspection Report (EIR) after successfully completing inspection at Nagpur facility, Lupin said in an exchange notification.
Shares of the country's largest lender fell 0.46 percent to Rs 301.05. The bank's MD Ajit Basu said that SBI is working on resolving 7-8 power accounts.
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Shares of the Mumbai-based edible oil maker were locked in a five percent upper circuit at Rs 9.45 after lenders approved Adani Wilmar's takeover of insolvent Ruchi Soya, two unidentified bankers told BloombergQuint.
At the end of a 24-hour voting process, more than 96 percent members of the committee of creditors for Ruchi Soya approved the resolution plan submitted by the Adani Group company, the bankers said.
Shares of the Hyderabad-based infrastructure construction company rose as much as 5 percent to Rs 193.20 on report that it is in advanced talks to sell two access-controlled road assets for around Rs 3,450 crore, The Economic Times reported citing two people close to negotiations.
The company is looking to sell NAM Expressway and Srinagar-Banihal Expressway, the report added.
Shares of the Kolkata-based non-banking finance company rose as much as 11.7 percent to Rs 52.
SREI Infrastructure Finance’s wholly owned subsidiary, Quippo Oil and Gas Infrastructure has proposed to sell 2,600 equity shares constituting 26 percent shareholding in Quippo Drilling Private Limited (QDIPL) to an overseas entity, the company said in an exchange notification.
Consequently, QDIPL shall also cease to be a wholly owned step-down subsidiary of the company but shall continue to be a step-down subsidiary of the company.
Buyers and sellers were not immediately known
Source: Bloomberg
Needn’t Be Too Worried About The Rupee, Says Raghuram Rajan
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Shares of the budget airline operator fell as much as 1.9 percent to Rs 1,034 after it proactively grounded a few Airbus A320 Neo planes due to “non-availability” of spare engines from the manufacturer.
Shares of the Delhi-based steel maker were locked in a five percent lower circuit at Rs 15.50 after stock exchanges informed members that trading will be suspended with effect from Aug. 29 on account of reduction and consolidation of share capital.
Buyers and sellers were not immediately known
Source: Bloomberg
Indian bond traders will be focusing on the Rs 12,000 crore debt sale by the central government after benchmark yields closed at a six-week high. The government will sell Rs 5,000 crore of benchmark 2028 bond; Rs 2,000 crore each of 2023 and 2035 debt, and Rs 3,000 crore of 2046 securities later in the day.
The sales will test investor appetite after the 10-year yield rose 5 basis points on Thursday to end at 7.88 percent -- the highest close for the benchmark bond since July 10.
Meanwhile, the rupee may start trading lower along with other emerging Asian currencies.
The dollar was trading higher overseas ahead of an address by Fed Reserve chair Jerome Powell at Jackson Hole. The rupee fell 0.4 percent on Thursday to end at 70.1150 with the implied opening from the forwards, suggesting it will start trading at 70.21 on Friday.
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