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Source: Bloomberg
Zydus-Cadila received a green signal from the U.S. drug regulator for its Dexmedetomidine Hydrochloride Injection used for sedation of non-intubated patients prior surgical procedures, according to its stock exchange notification.
Power of business families, weak legal system and few protections to whistle-blowers contribute to India’s scenario. (More details here.)
Source: Bloomberg
Shares of the wheel rim maker rose as much as rose as much as 2.2 percent to Rs 1,039.90. The company won a new export order close to 2,000 wheels, according to its stock exchange notification.
The stock has declined 9 percent so far this year, compared to 0.5 percent gain in Sensex.
Shares of the real-estate developer gained as much as 2.3 percent to Rs 227.50 after its subsidiary emerged as the highest bidder for an 11.76-acre plot of land in Gurugram.
The subsidiary, Aadarshini Real Estate Developers Pvt. Ltd. had bid Rs 1,496 crore for the plot.
The stock was trading at an unusually high 99 percent premium versus peers. That compares with an average 59 percent premium that it enjoyed over the last two years, Bloomberg data showed. The Bloomberg consensus price target of DLF is 1.6 percent lower than the current stock price.
India’s market regulator approved the initial public offering of a Gitanjali Gems Ltd.’s subsidiary despite an ongoing probe into alleged trading violations by promoter Mehul Choksi, now named in the Rs 13,000-crore Punjab National Bank fraud. (more details here!)
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Shares of the drug-maker climbed as much as 1.77 percent to Rs 597 after it partnered with Roche Products (India) Pvt. Ltd. to create greater access to key medicines, according to its stock exchange notification.
The pharmaceutical company said that the deal is part of the company’s efforts to improve the state of healthcare in India. The stock snapped a two-day losing streak to gain in today’s opening trade. The traded volume was 3.1 times the 30-day average.
Cipla was trading at an unusual 16 percent discount versus peers, compared to an average 2 percent premium over the last two years, Bloomberg data revealed.
Key highlights from the conversation:
Key highlights from the conversation:
Shares of the cement, zinc manufacturer jumped nearly 5 percent to Rs 117 after Bloomberg reported that a Bain Capital-backed investor group is poised to win the bidding for Binani Cement Ltd. Binani Cement is currently under the Insolvency and Bankruptcy Code.
The stock’s traded volume was 4.4 times the 30-day average, and the stock has declined 15.2 percent since the year beginning, compared to the benchmark S&P BSE Sensex Index’s gain of 0.2 percent.
#BQOpinion | A host of mid-cap IT companies are trading at valuations more expensive than that of Wipro, HCL Tech, Tech Mahindra or Infosys, finds @_nirajshah.https://t.co/TijF7VDx1R pic.twitter.com/bVCL3g8pTd
— BloombergQuint (@BloombergQuint) February 27, 2018
Minority shareholders ask for Rs 94 crore from Ricoh.https://t.co/OActSE7NT1 pic.twitter.com/teXnGGVS4L
— BloombergQuint (@BloombergQuint) February 27, 2018
State-run banks told to examine bad loans above Rs 50 crore for fraud.https://t.co/tDQLK77DMP pic.twitter.com/HmvOm1nod0
— BloombergQuint (@BloombergQuint) February 27, 2018
Oil dips as industry report shows swelling spare U.S. oil supply.https://t.co/aReAnWgkfF pic.twitter.com/WN9v8hoeoE
— BloombergQuint (@BloombergQuint) February 28, 2018
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