The share price of InterGlobe Aviation surged 15 per cent from the day of listing on bourses on November 10. In the past one month, the scrip hit a high and low of Rs 1145.75 and Rs 878.45, respectively.

InterGlobe Aviation, which runs no-frills carrier IndiGo, completed its one month on Thursday (December 10) on stock exchanges from the date of listing. Shares of InterGlobe made a strong debut on the bourses on November 10 as it was listed at Rs 856 on BSE, reflecting a gain of 11.89 per cent as compared to the issue price. The issue price was set at Rs 765.

The share price of InterGlobe Aviation surged 15 per cent from the day of listing on bourses on November 10. In the past one month, the scrip hit a high and low of Rs 1145.75 and Rs 878.45, respectively.

On a month-to-date basis, the share price of Indigo corrected 9 per cent to Rs 1,010.50 till December 9. The scrip was at Rs 1,110.15 on November 30.

The company is one of the two profit-making domestic airlines with the other one being GoAir. At present, only two domestic scheduled carriers – Jet Airways and SpiceJet – are listed, while trading in long-grounded Kingfisher Airlines has been suspended for a long time.

Chandan Taparia, derivative and technical analyst, Anand Rathi Securities, said, “Shares of InterGlobe Aviation have recently broken its immediate support levels of Rs 1,030 due to some market pressure. If it will touch Rs 1,035 in coming days then it move towards Rs 1,100.”

For the financial year ended March 2015, InterGlobe Aviation reported net profit of Rs 1,295.58 crore, up 173 per cent, against Rs 474.44 crore in the previous financial year. The company registered net profit of Rs 987.3 crore in the financial year ended March 2013.

Total revenue of the company grew 25.16 per cent year-on-year to Rs 14,309.14 crore in 2014-15 against Rs 11,432.12 crore last year.

At current market price, shares of Indigo were trading at price-to-earnings ratio of 114.87 against industry P/E of 108.59. Experts have different views on the further movement of Indigo shares.

G Chokkalingam, founder of Equinomics Research, “Shares of Interglobe Aviation are fairly valued right now.”

Kishor P Ostwal, chairman and managing director, CNI Research, “I am not bullish on Interglobe Aviation shares. Aviation sector is heavily depends on government policies and international competition may squeeze margins going forward.”

The promoters holding in the company stood at 86.15 per cent while institutions and non-institutions held 5.85 per cent and 8 per cent respectively.

On December 10, the share price of the airline was trading 0.25 per cent up at Rs 1,013 in the morning trade.

Biocon Chairperson and Managing Director Kiran Mazumdar-Shaw. NeoBiocon, a collaboration between Biocon Ltd and BR Shetty led UAE-based Neopharma, has partnered with Novartis Middle East FZE to market diabetes drugs Jalra and Jalra-M in the UAE. (Reuters)

Biocon share price gained as much as 1.63 per cent in the early trade on Thursday after the company informed BSE that NeoBiocon, a collaboration between Biocon Ltd and BR Shetty led UAE-based Neopharma, has partnered with Novartis Middle East FZE to market diabetes drugs Jalra and Jalra-M in the UAE.

At 10.01 am, the share price of Biocon was trading marginally up 0.16 per cent at Rs 463.30. The scrip opened at Rs 466.50 and had touched a high and low of Rs 470.10 and Rs 461.60, respectively, in trade so far.

The partnership will help NeoBiocon expand its product offerings in the metabolics segment and will immensely benefit diabetics in UAE, Biocon Ltd said in a statement on Wednesday.

NeoBiocon has received approvals from the Ministry of Health-UAE for marketing Jalra and Jalra-M in the country and the launch is scheduled for January 2016, it added.

For the quarter ended September 2015, Biocon posted a consolidated net profit of Rs 305.97 crore, up 199.82 per cent, against Rs 102.05 crore in the corresponding quarter a year ago.

In the past one year, the share price of Biocon gained 1.65 per cent to Rs 462.55 on December 9. Sensex fell 9.93 per cent during the same period.

Tata Motors stocks will be in focus as Jaguar Land Rover on Thursday reported its best ever November retail sales of 46,547 vehicles, up 27 per cent as compared to November last year despite a slowdown in China, the world’s largest auto market. (Photo: Reuters)

The benchmark BSE Sensex jumped over 100 points in opening trade on Thursday following value buying in blue-chip stocks coupled with mixed Asians cues. At 10 am, Sensex was trading 92.58 points up at 25,128.63. Similarly, Nifty was trading 26.70 points up at 7,639.20 during the same time.

Below are the 8 top stocks that are likely to be in focus today:

Infosys: Shares of the software major were trading 0.57 per cent up at Rs 1035.25 after the company on Wednesday announced that it has made an investment of $4 million in CloudEndure, a startup that provides cloud migration and cloud-based Disaster Recovery (DR) software.

Realty stocks: Stocks of real estate companies like DLF, Unitech, Godrej Properties among others will be in focus as the Union Cabinet on Wednesday approved the Real Estate (Regulation and Development) Bill, 2015, as reported by the Select Committee of Rajya Sabha.

United Spirits Ltd: Diageo-controlled United Spirits Ltd (USL) is seeking nod from its shareholders through a special resolution to provide corporate guarantee to a Rs 100-crore loan that its subsidiary Pioneer Distillers is availing from Standard Chartered Bank. In a BSE filing, the company said its Board of Directors had on November 2, approved a decision of “providing corporate guarantee” for the financial assistance of Rs 100 crore that Pioneer Distilleries is seeking from the bank to be used for funding capacity expansion and for other capital needs.

Tata Motors: Tata Motors-owned Jaguar Land Rover on Wednesday reported its best ever November retail sales of 46,547 vehicles, up 27 per cent as compared to November last year despite a slowdown in China, the world’s largest auto market. The Coventry-based luxury car maker sold 437,512 vehicles in the first 11 months of 2015, four per cent up on the same period in the previous year.

Aurobindo Pharma: Aurobindo Pharma has received US health regulator’s approval to market Eptifibatide Injection, used in the treatment of acute coronary syndrome, in the American market. The company has received final approval from the US Food and Drug Administration (USFDA) to manufacture and market Eptifibatide Injection, Aurobindo Pharma said in a filing to the BSE.

Wipro Ltd: Wipro Digital, the digital arm of Wipro, said its has set up a new “London pod” to offer enhanced digital transformation services to its customers in the UK and other parts of Europe. Wipro Digital also intends to continue its hiring in the UK to support business growth and expand its range of offerings, it said in a statement.

Biocon Ltd: NeoBiocon, a collaboration between Biocon Ltd and BR Shetty led UAE-based Neopharma, has partnered with Novartis Middle East FZE to market diabetes drugs Jalra and Jalra-M in the UAE. The partnership will help NeoBiocon expand its product offerings in the metabolics segment and will immensely benefit diabetics in UAE, Biocon Ltd on Thursday said in a statement.

Asian Paints: Asian Paints on Wednesday said its overseas subsidiary Asian Paints (International) Limited (APIL), Mauritius, has    transferred its entire holding in Asian Paints (Vanuatu) Limited to Singapore-based Berger International. “As part of the company’s plan to consolidate its investments in the overseas subsidiaries, Asian Paints (International) Ltd (APIL), Mauritius, a wholly-owned subsidiary of the company has transferred its entire holding of 60 per cent held in the subsidiary company, Asian Paints (Vanuatu) Ltd to Berger International Private Ltd, Singapore,” Asian Paints said in a BSE filing.

V-Guard Industries: V-Guard Industries on Wednesday said it has set up a manufacturing unit of voltage stabilisers in Sikkim to meet the growing demand of stabilisers in non-south markets. “The unit is eligible for benefits under North East Industrial & Investment Promotion Policy (NEIIPP), 2007 which also covers the state of Sikkim,” it said in a filing to BSE.

Jain Irrigation: Jain Irrigation Systems has bagged a Rs 2.2 billion contract from Tanzania authority DAWASA for supply and installation of water distribution network in the capital city ‘Dar Es Salaam’. “The USD 32.98 million (Rs 2.2 billion) project is an integrated water supply project with unique design to ensure reduced water supply losses (in) entire network,” the company said in a BSE filing.

Since last Wednesday, over a third of stocks in the BSE 200 have lost over 6% of their value while 13 have dropped by over 10%. Foreign investors have liquidated close to $470 million worth of Indian shares in this time. (Express Photo)

The Sensex continued on its losing streak for the sixth straight session on Wednesday, giving up a total of 1,133 points or 4.33% over the period, reports fe Bureau in Mumbai. Since last Wednesday, over a third of stocks in the BSE 200 have lost over 6% of their value while 13 have dropped by over 10%. Foreign investors have liquidated close to $470 million worth of Indian shares in this time.

Commodity producers, public sector banks and over-leveraged companies dominate the list of losers with names like JP Associates, Oriental Bank, Vedanta, UCO Bank, Unitech and Jindal Steel & Power being the prominent scrips.

Foreign portfolio investors continued to take risk off the table ahead of the scheduled meeting of US Federal Open Market Committee (FMOC) on December 16 and 17.Growing concerns that the goods and services tax Bill may not be passed in the winter session as was earlier though probable also weighed on investor sentiment. Overseas investors remained net sellers on Wednesday, offloading shares worth $79 million, provisional data from exchanges show.