Shares of Zydus Lifesciences rose nearly 2%, the most in over a week. The company received final approval from U.S. FDA to market Empagliflozin and Metformin Hydrochloride Tablets in the strengths of 5 mg/500 mg, 5 mg/1000 mg, 12.5 mg/500 mg and 12.5 mg/1000 mg.
The tablets are used to improve glycemic control in adults with type 2 diabetes mellitus. The drugs also lower the risk of cardiovascular death. The drug which will be manufactured at the company's Ahmedabad plant had an annual sales of $281 million in the U.S., in the twelve months ended May 2022, according to IQVIA.
Of the 35 analysts tracking the company, 22 maintain 'buy', 11 suggest 'hold' and two recommend 'sell'. The overall consensus price of analysts tracked by Bloomberg implies an upside of 14.9%.
Shares of One 97 Communications rose nearly 3%, the most in three sessions, to a two-week intraday high of Rs 719 apiece.
The rise comes after the company's total loan disbursals rose 492% YoY to 8.5 million in quarter-ended June, according in its Q1 operational update.
Total loan value rose 779% YoY to Rs 5,554 crore
Disbursements gained 492% YoY to over Rs 24,000 crore in June.
Average monthly transacting users (MTU) at 74.8 million for the quarter ending June, up 49% YoY.
Merchant payment volumes (GMV) for Q1 rose 101% YoY to Rs 2.96 lakh crore.
Of the 10 analysts tracking the company, five maintain 'buy', two suggest 'hold' and three recommend 'sell'. The overall consensus price of analysts tracked by Bloomberg implies an upside of 21.1%
Shares of banks rose after Bloomberg reported that finance ministry sought the approval of law ministry for its rules to privatise state-run banks, Bloomberg reported citing an unidentified government official.
Finance Ministry is likely to seek cabinet nod for the rules after the approval from law ministry.
Government may present the proposed rules during the parliament's Monsoon Session, the reported quoted the government official.
The rise also comes amid report by Business Standard on Monday claiming that the government may allow individual investors to own over 10% in state-run banks, without citing the source of the information.
All the constituents of Nifty PSU Bank index advanced with Indian Bank, Bank of Baroda and Indian Overseas Bank leading the gains. Barring Kotak Mahindra Bank, all the other 11 constituents of the Nifty Bank index also advanced.
European markets decline amid fall in U.S. equity futures; Mining and auto stocks declined. British pound also slid as the race to find a successor to replace Boris Johnson as UK Prime Minister intensified.
Ministry of Coal has appointed Debasish Nanda as Director (Business Development) on the board of Coal India, with effect from July 11 till the date of his superannuation, May 31, 2025.
The broader indices outperformed their larger peers with MidCap index gaining 0.1% and SmallCap index rising 0.5%. Fourteen of the 19 sectoral indices compiled by BSE advanced with Power and Utilities indices adding 3%. On the flipside, the Information Technology and Teck indices lost 3%.
The market breadth is skewed in the favour of bulls. About 1,803 stocks rose, 1,464 fell and 173 remained unchanged.
The broader indices outperformed their larger peers with S&P BSE MidCap gaining 0.2% and S&P BSE SmallCap remaining littlechanged. Thirteen of the 19 sectoral indices compiled by BSE advanced, with Power and Utiliting rising over 1%. On the flipside, S&P BSE Information Technology and Teck indices lost nearly 2%.
The market breadth is skewed in the favour of bulls. About 1,388 stocks advanced, 955 declined and 128 remained unchanged.
HDFC/HDFC Bank: The company received approval from Pension Fund Regulatory and Development Authority for the scheme of merger with HDFC Bank. The scheme is yet to receive approval from Competition Commission of India, the National Company Law Tribunal and company’s shareholders and creditors.
CCL Products: The company has forayed into plant-based meat products in India through the launch of its brand Continental Greenbird.
Dr Reddy’s: The company has launched Fesoterodine Fumarate rxtended-release tablets, a therapeutic generic equivalent to Toviaz, in the U.S. market.
Hindustan Aeronautics: The company along with France based Safran will be jointly develop engines for military helicopters. The new joint venture will develop and produce engines in India. The engines will be used in multi-role helicopters and the deck based ones used by the Indian Navy and the coast guard.
Bandhan Bank: The bank’s loans and advances rose 20% YoY to Rs 96,649 crore in quarter from April to June. Deposits also grew 20% to Rs 93,057 crore. CASA ratio stood at 43.2% on June 30.
Zydus Lifesciences: The company has launched Sitaglyn and Siglyn (Sitagliptin), for the management of Type 2 diabetes at a 60% low cost than the originator.
Linde India: The company inaugurated its first-ever women operated Packaged Gas Plant in Trichy.
Indian Overseas Bank: The bank raised MCLR by 10 basis points across tenors effective from July 10.
PowerGrid: The company has been declared as the successful bidder under Tariff based competitive bidding to build the project comprises establishment of two 400kV DIC Transmission lines passing through the states of Rajasthan and Madhya Pradesh, a New 400/220kV Pooling Substation at Neemuch (Madhya Pradesh) and 400kV bay extension works.
Federal Bank: The Reserve Bank of India levied Rs 5.72 crore penalty on account of non-compliance with RBI norms on incentives paid to employees.
Bank of India: The Reserve Bank of India levied Rs 70 lakh on account of non-compliance with RBI norms on issuing unique customer codes.
Himadri Speciality Chemical: Promoters of the company (SSC Family and BLC Family) have inter-se entered into a family agreement by virtue of which BLC Family have cease to hold any right in the management and/or control in the company. They have also submitted request/application under Regulation 31A of SEBI listing regulations to reclassify themselves from promoter and promoter group to public category. The FSA has been entered to amicably settle all past issues between SSC family and BLC family.
Stocks in Asia rose on Monday after strong U.S. employment report on Friday and post-election rally in Japan. The possibility of more Covid curbs in China could, however, dampen sentiment.
Japan shares climbed 1.5%, as ruling coalition expanded its majority in an upper house election. US and European equity futures fell while crude oil was volatile around $105 per barrel.
At 6:40 am, the Singapore-traded SGX Nifty -- an early barometer of India's benchmark Nifty 50 -- fell 0.13% to 16,206.50.
Elsewhere, the pound fell as the race to replace Boris Johnson as UK premier heats up.
