Sun Pharma stocks were trading 6.58 per cent down at Rs 738.45 in early trade as it has received a warning letter from the USFDA over violation of manufacturing norms in its facility at Halol in Gujarat.
The BSE Sensex that opened in negative terrain on Monday wiped off its inital losses and was trading over 100 points up in morning trade on Monday. At 12.31 am , Sensex was trading 102.71 points up at 25,621.93. Similarly, Nifty was trading 37.70 points at 7,799.65.
Below are the stocks that are in focus today:
Mphasis: Shares of the IT firm were trading 1.11 per cent down at Rs 491.00 after it said that its margins will take a hit of up to 120 basis points in the December quarter owing to recent floods in Chennai. Mphasis has about 3,000 employees in Chennai
Jubilant Life: Share price of the company climbed over 2 per cent(at 11.17 am) after the Reserve Bank of India (RBI) allowed foreign institutional investors (FIIs) and registered foreign portfolio investors (RFPI) to buy up to 45 per cent stake in Jubilant Life Sciences under the portfolio investment scheme.
Sun Pharma: Shares of the drug major were trading 6.58 per cent down at Rs 738.45 after it received a warning letter from the USFDA over violation of manufacturing norms in its facility at Halol in Gujarat.
IVRCL: Shares of the company were trading 6.53 per cent up at Rs 9.79(at 10.32 am) after the debt-laden infrastructure firm decided to split its Engineering Procurement Construction (EPC) and assets business – land and Build Operate Transfer (BOT) – to float two separate companies.
Tata Motors: The automaker has entered the top-50 league of the world’s biggest companies in terms of their R&D investments, topped by German automaker Volkswagen.
Manappuram Finance: will purchase 100 per cent equity shares of Manappuram Insurance Brokers pursuant to approval received from Insurance Regulatory and Development Authority (IRDA). The regulator has given its approval to Manappuram Insurance Brokers for change in share holding pattern through its letter dated December 18,2015.
Infosys, Wipro, TCS and Tech Mahindra: Stocks of the Indian IT major will be in focus as US President Barack Obama on Saturday signed into law a $1.8 trillion spending package which among other things introduces a hefty $4,000 fee for certain categories of H-1B visa and $4,500 for L1 visa.
United Bank of India: The bank plans to raise Rs 1,500 crore through preferential allotment of shares.The Board of Directors at its meeting on Friday approved to raise equity capital.
Eicher Motors: The automaker on Friday said its two wheeler division Royal Enfield has resumed normal operations at its manufacturing plants in Chennai, where production activity was impacted due to heavy rains.
Kesoram Industries: The B K Birla group firm said its board has approved a proposal for raising up to Rs 650 crore through issue of securities.
Mahindra & Mahindra (M&M): Stocks of the automaker will be in focus as the company will launch a series of compact petrol engines in the near future, even as its mainstay diesel line-up faces an uncertain future in the wake of SC order on pollution curb in Delhi. The company on Friday unveiled its new sports utility vehicle (SUV) christened the KUV1OO to be sold in petrol and diesel options.
MBL Infrastructures (MBL): The company has been awarded the Project of ‘Rehabilitation and upgradation’ from Jabalpur to Hiran River Section of NH-12 (New NH No. 45) to four -lanes with payed shoulders configuration from 10.400 km to 66.000 km (design length 55.600 kms) in the state of Madhya Pradesh under NHDP- Ill through Engineering, Procurement & Construction (EPC) Basis Contract for the contract price of Rs 414.75 crore from Ministry of Road Transport & Highways. The execution period of the project is 24 months from the appointed date.
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