Cipla Quality Chemicals stake sale completed for a consideration of $25 million.
Company arms Cipla EU and Meditab Holdings sold entire 51.8% stake on Nov. 14.
Source: Exchange Filing
Shares of Gland Pharma were trading 0.97% lower at Rs 1,610 apiece compared to a 0.99% advance in the benchmark NSE Nifty 50 as of 12:53 p.m.
It has risen 2.12% on a year-to-date basis. The total traded volume so far in the day stood at 30.9 times its 30-day average. The relative strength index was at 52.33.
Twelve out of 20 analysts tracking Gland Pharma maintain a 'buy' rating on the stock, three recommend 'hold' and five suggest 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential downside of 6.7%
Gets US FDA tentative approval for Angiotensin II injection
Alert: Angiotensin II is generic of Giapreza injection
Source: Exchange Filing
The broader markets were trading higher; the S&P BSE MidCap Index was up 0.78%, whereas S&P BSE SmallCap Index was 1.08% lower.
All the 20 sectors compiled by BSE advanced. S&P BSE Realty and S&P BSE Information Technology rose the most.
The market breadth was skewed in the favour of the buyers. About 2,308 stocks rose, 1,258 declined, while 171 remained unchanged on the BSE.
14.8 lakh shares changed hands in a large trade
0.02% equity changed hands at Rs 247.65 apiece
Buyers and sellers not known immediately
Source: Bloomberg
Gabriel India at 7.14x of its 30 day average
Gateway Distriparks at 6.6x of its 30 day average
Narayana Hrudayalaya at 5.3x of its 30 day average
Manappuram Finance at 4.43x of its 30 day average
Isgec Heavy Engineering at 4.22x of its 30 day average
Sectoral Update as of 10:32
Nifty Realty top gainer led by Phoenix Mills and Oberoi Realty
Nifty Realty up 2.46%; top gainers up 4.8%, 3.9%
Nifty IT up 2.29% led by Mphasis and Coforge
Mphasis up 5%, Coforge up 3.8%
Nifty Pharma top loser led by Natco Pharma and Aurobindo Pharma
Nifty Pharma down 0.05%; top losers down 1.9% 1.3%
12.7 lakh shares changed hands in a large trade
0.13% equity changed hands at Rs 252.25 apiece
Buyers and sellers not known immediately
Source: Bloomberg
ASK Automotive lists at Rs 303.3 apiece on the NSE, 7.55% premium to IPO price
ASK Automotive lists at Rs 304.9 apiece on the BSE, 8.12% premium to IPO price
Source: Exchanges
22 stocks out of Nifty 500 hit fresh record highs
40 stocks out of Nifty 500 hit a 52-week high
The Phoenix Mills up 8.52%, hits fresh life high at Rs 2368.1
Narayana Hrudayalaya up 5.29%, hits fresh life high at Rs 1182
Oberoi Realty up 4.39%, hits fresh life high at Rs 1287.7
Birlasoft up 3.69%, hits fresh life high at Rs 605
Eclerx Services up 3.28%, hits fresh life high at Rs 2407.85
10.3 lakh shares changed hands in a large trade
0.01% equity changed hands at Rs 211.20 capiece
Buyers and sellers not known immediately
Source: Bloomberg
10.1 lakh shares changed hands in a large trade
0.02% equity changed hands at Rs 353.2 apiece
Buyers and sellers not known immediately
Source: Bloomberg
10.2 lakh shares changed hands in a large trade
0.12% equity changed hands at Rs 251.75 apiece
Buyers and sellers not known immediately
Source: Bloomberg
Cons revenue at Rs 38,066 crore vs Rs 80,270 crore, down 52.6% YoY
Cons Ebitda at Rs 50.1 crore vs Rs 413 crore, down 88.01% YoY
Cons margin at 0.13% vs 0.52%, down 38 bps YoY
Cons reported profit at Rs 45.3 crore vs Rs 373 crore, down 87.9% YoY
Revenue at Rs 3,317 crore vs Rs 2,816 crore, up 17.8%
Ebitda at Rs 377 crore vs Rs 319 crore, up 18.3%
Margin at 11.37% vs 11.32% up 5 bps
Net loss at Rs 15.3 crore vs profit of Rs 54.1
Problems reported from Nov 10 to 13, 2023.
Transactions credited to UCO Bank account holders without actual receipt of money.
Bank working with stakeholders to restore IMPS at the earliest.
Financial impact yet to be ascertained.
Source: Exchange filing
At pre-open, the S&P BSE Sensex was up 524.64 points, or 0.81%, at 65,458.51 while the NSE Nifty 50 was 208 points or 1.07% higher at 19,651.40.
Source: Bloomberg
The yield on the 10-year bond opened 3 bps lower at 7.24% on Wednesday.
It closed at 7.28% on Monday.
Source: Bloomberg
The local currency strengthens 26 paise to open at 83.07 against the U.S dollar on Wednesday, the highest open in three weeks since Oct. 25.
It closed at 83.33 on Monday.
Source: Bloomberg
Gets Rs 49.9 crore GST demand and interest, penalty from Commissioner Central GST, Central Excise.
Source: Exchange Filing
MSCI November Review: Here's What Changed For India Stocks
Price band revised from 5% to 2%: Usha Martin
Ex/record date Interim dividend: Emami, PDS, SAT industries, Steelcast, Chambal Fertilizers and Chemicals, Indraprastha Gas.
Move into short-term ASM framework: Antony Waste handling cell, BMW Industries, Carysil, Swan Energy.
Move out of short-term ASM framework: Vodafone Idea.
Inox wind: Promoter Inox Wind Energy released a pledge of 79.5 lakh shares on Nov. 9.
Swan Energy: Jainam Broking bought 23.7 lakh shares (0.89%) at Rs 430.21 apiece, while 2I Capital PCC sold 20 lakh shares (0.75%) at Rs 427.81 apiece, Montego Realty sold 23.38 lakh shares (0.88%) at Rs 432.06 apiece, and Kasturi Vintage sold 32.84 lakh shares (1.24%) at Rs 428.21 apiece.
MSPL: SBI sold 19.29 lakh shares (0.5%) at Rs 18.53 apiece.
Nuvama: The Pabrai Investment Fund sold 1.8 lakh shares (0.51%) at Rs 2,785.17 apiece.
ASK Automotive: The shares will debut on the stock exchanges on Wednesday at an issue price of Rs 282. The Rs 834-crore-IPO was subscribed 51.14 times on the final day. Bids were led by institutional investors (142.41 times), non-institutional investors (35.47 times) and retail investors (5.70 times).
Asian Paints: The company's original installed production capacity of the Khandala plant has been increased to 4,00,000 KL per annum from 3,00,000 KL per annum in order to meet the medium-term capacity requirements of the company for Rs 385 crore.
Wipro: Designit Tokyo Co., a step-down subsidiary of Wipro Limited, has been voluntarily liquidated with effect from Nov. 13, 2023. The revenue contribution from such units is 0.004% as of March 2023.
Adani Energy Solutions: The distribution arm of Adani Energy Solutions Ltd., Adani Electricity Mumbai Ltd., announced a tender offer to buyback up to $120 million of its outstanding $1,000 million of 3.949% senior secured notes due 2030. The tender offer is being fully funded through its cash surplus and internal accruals.
RVNL: The company received a Rs 311 crore LoA from Central Railways for the construction of tunnels and bridges in Madhya Pradesh. The time period by which the order is to be executed is 18 months.
PTC Industries: India-based PTC Industries and Safran Aircraft Engines, the French global leader in aero engine design, development, and manufacturing, announced a multi-year contract to develop industrial cooperation for LEAP engine casting parts. Under the terms of the contract, PTC Industries will produce titanium-casting parts for Safran aircraft engines.
Biocon: Biocon Biologics, a subsidiary of Biocon, has announced that MHRA, the Medicines and Healthcare Products Regulatory Agency in the U.K., has granted marketing authorization for YESAFILI, a biosimilar of Aflibercept. In September, YESAFILI received marketing authorization approval from the European Commission for the European Union.
Indian Overseas Bank: The bank decided to increase the base rate by 35 bps w.e.f. Nov. 15. The effective base rate will be 9.45%.
IDFC First Bank: The company received a PFRDA nod for the merger of IDFC and IDFC Financial Holding Co. with IDFC First Bank. The company also received BSE and NSE's nods for the merger of IDFC and IDFC Financial Holding Co. with itself.
GMM Pfaudler: Promoters to buy 4.5 lakh shares, or a 1% stake, from Pfaudler Inc. at Rs 1,700 per share. Acquisition costs are at a premium of 1.4% to the stock's previous close of Rs 1,676.05 on the NSE.
Knowledge Marine & Engineering Works: The company bagged a project from the Mumbai Port Authority for the hiring of two dock tugs for a period of 7 years for an amount of Rs. 34.49 crore.
Electronics Mart India: Commercial operations of the company’s one of the stores in Hyderabad were temporarily disrupted due to a fire accident during the intervening nights of Nov. 12 and 13, 2023. The estimated amount of loss suffered by the company is yet to be ascertained.
Pfizer: Milind Patil has resigned as a Director on the Board of Directors of the company with effect from the close of business on Nov. 13, consequent to the expiry of his five-year term as Executive Director.
Manappuram Finance Q2 Results: Net Profit Rises 20%
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