Stocks Radar: L&T, Lupin, Neuland Labs, Religare
Indian equity benchmarks resumed their uptrend after a two-day halt led by shares of oil marketing companies even as investors await corporate results season that kicks off this week.
#BQMarketsNow | Nifty opens above 9,200. Oil marketing companies rise, while financial stocks struggle.https://t.co/88nnp02kV6 pic.twitter.com/SEOUOO8R2X
April 10, 2017Here are the stocks moving the market this morning:
Larsen & Toubro: AM Naik Stays
Shares of the company rose 1.7 percent to Rs 1,713 after SN Subramanyan was announced as its next chief executive officer and managing director. His term will begin from July 1. Group Executive Chairman, AM Naik, on the other hand, will move to a non-executive role in the company.
In an interview to BloombergQuint in February, Naik said he was not interested in any roles in Larsen & Toubro after the expiration of his term.
Also Read: AM Naik Appointed As L&T's Non-Executive Chairman
Neuland Labs: U.S. FDA Issues 2 Observations
Shares of the pharmaceutical company fell as much as 6.6 percent to Rs 1,435 after the U.S. Food and Drug Administration (U.S. FDA) issues two observation under a form 483.
The observations are related to following standard procedures and cleaning and maintanance of the equipment, according to the cpompany's filing to the exchanges.
The regulator had inspected the company's manufaturing facility in Hyderabad, in the first week of APril 2017.
Divi Laboratories: Gains On Good News
Shares of the company rose 5.7 percent to Rs 657 after the U.S. FDA exempted some of its products from the import alert list. An import alert prohibits the company to manufacture or market that particular drug in the United States, according to the regulator's website.
Cairn India: Receives Tax Demand Note
The company fell 0.7 percent to Rs 296 after the Income Tax Department slapped fresh demand note of Rs 10,247 crore on it. This came within weeks of the Income Tax Appellate Tribunal upheld the levy of retrospective tax.
ITAT in its March 9 order held that Cairn Energy was liable to pay tax on the 2006 transfer of India assets to newly created Cairn India, prior to its listing. It, however, held that interest cannot be charged on it as the demand was raised using retrospective tax legislation.
Also Read: Cairn Energy Gets Slapped With Fresh Rs 10,247-Crore Tax Demand Note
Religare Enterprises: To Sell Religare Health
Shares of the capital market company rose 4.9 percent to Rs 230after shares of the it entered into definitive agreements with a private equity fund to divest its entire stake in Religare Health. The company currently ho;lds 80 percent of its entire stake, according to the data available on the BSE.
Lupin: Received Final Nod
Shares of the drug maker fell 0.9 percent to Rs 1,397 even after it received a final nod from the U.S. FDA for Bupropion Hydrochloride Extended-release tablets. The drug is a generic version of Valeant Pharmaceutical's Wellbutin tablet. The drug is used for the treatment of "major depressive disorder and prevention of seasonal affective disorder in adults."
Sensex, Nifty: Movers & Shakers
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Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
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Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
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India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
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France's Economy & Politics Are In Crisis | The Reason Why
Let's look at how the French economy and politics evolved under Nicolas Sarkozy, Franois Hollande and Emmanuel Macron.
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You May Inherit The Business. You Must Earn Its Credibility.
Succession tests the founder's ability to share authority as much as it tests the next generation's readiness to assume it.
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Signing Deals Is One Thing; Making Them Work Is Another | The Week In Whys
Sometimes, things don't turn out as planned. Indian companies have lost some bids to rivals, some projects won't produce until 2030.
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FOMC Wall, PERM Suspension, Hospital Stocks | Talking Points This Week
A PERM suspension would directly affect green-card sponsorship rather than H-1B visas, so the near-term earnings impact could remain relatively limited. The key question is whether this marks a new phase in US scrutiny of Indian IT.
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Everything, Everywhere, All At Once: Dalal Street's Week To Forget | Joining The Dots
Visa curbs, a Starlink spat and cancer drug caps: what connects this week's shocks for Indian markets
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India Is Going Abroad For Critical Minerals. But It May Take Years To Pay Off | The Reason Why
Although India's steps are in the right direction, they remain modest compared with India's growing dependence.
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When Everyone Has AI, What Gives You An Edge?
India's young workforce is entering an uncertain world of work where powerful AI tools are becoming widely accessible. The advantage will belong to those who combine deep expertise with digital fluency, and the distinctly human capabilities that technology cannot manufacture.
