Dr Reddy’s shares slumped 12 per cent after the pharma company received a warning letter from the US Food and Drug Administration over inadequate quality control procedures at three manufacturing plants in India. (Photo: Reuters)
Stock markets opened on a flat-to-cautious note on Friday tracking SGX Nifty and global markets. The BSE Sensex opened 20.19 points down at 26,284.01. Nifty opened 1.1 points up 7,956.55.
Below are the stocks that are likely be in news today
Motherson Sumi: Shares of Motherson Sumi jumped over 3 per cent after the company posted 174 per cent rise in its Q2 net profit figures at Rs 286.89 crore for the quarter ended September 30, 2015.
Dr Reddy’s: Shares of Reddy’s Laboratories slumped 12 per cent after the pharma company received a warning letter from the US Food and Drug Administration over inadequate quality control procedures at three manufacturing plants in India.
IDFC Bank: Shares of IDFC Bank that demerged from IDFC got listed today on bourses at an opening price of Rs 70.50. At NSE,the share price was trading at Rs 70.50 at 10.11 am.
Bank of Baroda: Stocks of the public sector lender were trading 5.39 per cent down at Rs 150.90 after the company posted a net profit of Rs 124.48 crore for the quarter ended September 30, 2015 as compared to Rs 1,104.22 crore for the quarter ended September 30, 2014.
Tata Steel: Share price of company were trading were trading 3.61 per cent down at Rs 217.45 (at 12.21 pm) after it reported a 22 per cent rise in consolidated net profit for September quarter as gains from selling shares in group companies negated decline in sales from weakening prices.
Rural Electrification Corporation (REC) and Power Finance Corporation (PFC): Shares of power sector lender Rural Electrification Corporation (REC) and Power Finance Corporation (PFC) declined as much as 12.83 per cent and 11.05 per cent on Friday after the government approved a turnaround plan for state electricity boards that is likely to impact the lenders’ margins. The BSE Power index was down 0.91 per cent at 1,880.83.
State bank of India: The shares of the public sector bank gained 3.39 per cent (at 11.10 am) on hopes that its second quarter results would beat estimates .
Cipla: The drug major Cipla on Thursday posted a consolidated net profit of Rs 431.24 crore for the quarter ended September 30, 2015, and said it expects growth in the second half of 2015-16 to be lower than the first half, while maintaining a positive outlook for the whole fiscal.
Polaris: The stocks of the IT company will be in focus as US-based firm Virtusa has agreed to buy 53 per cent stake in Polaris Consulting and Services for about Rs 1,173 crore.
Torrent Pharma: the company on Thursday said it has commenced production from its new plant in Gujarat, the first phase of which has come up at an investment of over Rs 650 crore.
Financial Technologies: The company has concluded sale of 1.58 per cent equity stake in power bourse IEX on a fully diluted basis to investment entity Madison India Opportunities III.
Tata Motors: The stocks of the automaker will be in focus as the company is expected to announce its second quarterly results today.
EIH: The hospitality major, which runs hotels and resorts under Oberoi and Trident brands reported a standalone net profit of Rs 10.86 crore for the second quarter ended September 30.
Castrol India: The company reported a 21.5 per cent rise in the September quarter net profit to Rs 143.2 crore.
Clariant Chemicals: The company reported net profit of Rs 21.45 crore for the quarter ended September 30 on account one-time income from sale of certain assets.
Some of the companies like Aurobindo Pharma, Vimal Oil, Astec, Tata Motors, Tata Invest, Paper Products, Eicher Motors, Godrej Industries, Aarti Drugs, IGL, Punj Lloyd, Motherson Sumi, Lumax Tech, Voltas, TD Power, Ramco Cem, Union Bank, Essar Oil, Tata Chemicals and Great Eastern Shipping may announce their earnings on Friday.
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