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The Hyderabad-based drugmaker was locked in 5 percent upper circuit after receiving EIR from U.S. FDA for its formulation facility in Telangana.
The company had received a warning letter from the U.S. FDA in July for the same plant.
The stock has been gaining for the last seven days and has surged 32.2 percent.
The only weakest link in market is PSU banking.Rakesh Bansal, vice president at RK Global
Shares of the construction company jumped as much as 11.45 percent to Rs 25.30 after the company received an order worth Rs 870 crore for canal work in Maharashtra.
Shares of the Kiran Mazumdar-Shaw promoted firm jumped as much as 5.45 percent, the most since July 19, to Rs 353 after its Malaysian subsidiary Biocon Sdn Bhd has received EU GMP compliance certificate from the Health Products Regulatory Authority of Ireland for its insulin manufacturing facility.
Shares of the drugmaker fell as much as 6.96 percent, the most in 11 months, to Rs 2,069 after the German drug regulator concluded audit of its manufacturing facility in Duvvuda, Vishakhapatanam with zero critical and six major observations.
The company has said that it will submit corrective action plan to authorities.
Shares of the coffee manufacturer surged as much as 13.57 percent, the most in 16 months, to Rs 323 after the Reserve Bank of India hiked foreign investment limit in the company to 40 percent from 24 percent under the Portfolio Investment Scheme.
Shares of the auto maker jumped as much as 1.89 percent, extending its record making run to fourth day, to Rs 33,483.95 after brokerage firm maintained 'Buy' rating and raised its target price to Rs 39,300.
The brokerage in a note said:
The rupee strengthened by 22 paise to 63.83 against dollar at the interbank foreign exchange in early trade on continuous selling of the U.S. currency by exporters and banks.
A fall in dollar against major world currencies globally boosted the rupee, currency traders said.
The Indian rupee is seen supported by a weak dollar and strong regional currencies. The dollar tumbled and yen and gold rallied as investors sought something safe amid looming threats of Hurricane Irma and a missile test in North Korea. The euro, however, stayed stronger after the European Central Bank stopped short of attempting to jawbone it lower.
In bonds, the yields in India's benchmark sovereign bonds are up about 3 basis points this week and investors will be watching for the outcome of auction of Rs 15,000 crore of bonds. The RBI will also conduct reverse repo auctions for a total of Rs 40,000 crore.
Inflows continues into bonds, while equities witness an outflow.
Global funds increased rupee-debt holdings by $125 million yesterday and were net sellers of $201 million in Indian equities on Sept. 6.
Here's a line up of all the major corporate/investor meetings over the next few days. https://t.co/8t7L9WVEKR pic.twitter.com/HpkYubrku7
— BloombergQuint (@BloombergQuint) September 8, 2017
Credit Suisse on Glenmark Pharma
Citi on L&T
JPMorgan on Metals
HSBC on Hindalco
IDFC on Tata Motors
Edelweiss on SpiceJet
IIFL on Motherson Sumi
IIFL on Sun TV
SpiceJet shows long-haul intent with Boeing-Airbus order contesthttps://t.co/jRYsPzIhJe pic.twitter.com/gIB7YpboXI
— BloombergQuint (@BloombergQuint) September 8, 2017
Trump keeps pressure on North Korea as force remains option.https://t.co/7IbDYOAT7Q pic.twitter.com/eA8JUMx7zo
— BloombergQuint (@BloombergQuint) September 8, 2017
The key events this week:
Source: Bloomberg
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