Nestle India stocks will be in focus as it informed the bourses that it has begun rollout of its Maggi noodles from Monday. (Reuters)
The BSE Sensex as expected in the aftermath of Bihar Assembly elections witnessed a knee-jerk reaction on Monday and opened 456 points down at 25,809. NSE Nifty opened 166.05 points down at 7,788.25.
At 9.26 am, Sensex was down 456.73 points at 25,808.51. NSE Nifty was down 142.25 points at 7,812.05 during the same time.
Below are stocks that are likely to be in focus today:
Sun Pharma: The drug major was the biggest loser among the Sensex companies as its shares fell by 5.3 per cent intraday. At 10.30 am, Sun Pharmaceuticals shares were trading 4.54 per cent down at Rs 767.20 after its earning for quarter ending in September failed to meet the street expectations. Sun Pharma reported a 46.02% fall in its consolidated net profit to Rs 1,106.66 crore for the quarter ended September 30, 2015.
Dr Reddy’s: Dr Reddy’s Laboratories: Decline of Dr Reddy’s Laboratories shares continued for the second consecutive session after the drug maker on Friday said that it has received a warning letter issued by the US drug regulator relating to its two active pharmaceutical ingredients (API) manufacturing facilities in Andhra Pradesh and Telangana. Its shares were trading 2.25 per cent down at Rs 3548.05.
Nestle India: Share price of the company was trading 0.15 per cent up at Rs 6181 as it informed the bourses that it has begun rollout of its Maggi noodles from Monday.
State Bank of India: Shares of the public sector bank continue to rally on Monday and were trading 1.01 per cent up(at around 10.40 am) at Rs 245.70 after the bank posted an impressive earnings for Q2FY16. SBI reported a 25.13 per cent jump in its net profit year-on-year(y-o-y) while the bank’s Net Interest Income(NII) went up by 74% y-o-y.
Glenmark Pharma: Shares of the drug major were trading 1.46 per cent down at Rs 946.90 today after the company informed the bourses that it has got a final approval from United States Food and Drug Distribution for Clotrimazole and Betamethasone Dipropionate Cream US.
Hester Biosciences (HBL): The company is expanding its footprint in Nepal and Africa to tap the growing vaccine market in the regions. The company is setting up a JV unit in Nepal to manufacture Nigerian strain PPR and other animal vaccines.
Tata Steel: Amid a crisis in Britain’s steel sector, Tata Steel has warned its suppliers that if they do not slash prices by up to 30 per cent in the long term then they risk losing the steel giant’s business.
Aurobindo Pharma: Aurobindo Pharma on Friday reported 21.4 per cent rise in consolidated net profit at Rs 451.76 crore during the July-September quarter.
Sun Pharma: Drug major Sun Pharmaceutical Industries reported 46.02 per cent dip in its consolidated net profit at Rs 1,106.66 crore for the second quarter ended September 30, 2015 on account of lower sales, volatile currency movements and supply constraints.
Essar Steel: As it tries to brace itself against the major headwinds faced by the sector, Ruias-promoted Essar Steel said it is looking for buyers to raise fresh capital to fund capital expenditure and pare some of the debt.
Reliance Communications: Reliance Communications reported a 1.9 per cent rise in consolidated net profit at Rs 156 crore for the second quarter ended September 30.
Bharat Heavy Electricals (BHEL): The company has secured prestigious orders, cumulatively valued at Rs 4,614 crore, for setting up two supercritical thermal power projects involving one unit each of the country’s highest rating 800 MW sets, in Andhra Pradesh.
Godrej Properties: Godrej Properties has cut its net debt by 25 per cent to nearly Rs 2,200 crore during the quarter ended September, helped by a big-ticket deal where it sold large office space in Mumbai for Rs 1,479 crore.
Coal India: State-run Coal India (CIL) will invest Rs 6,000 crore to set up 1,000 MW of solar power generation capacity over the next five to six years. The company will fund 70 per cent of the project cost through debt, which will come mostly from banks, while the rest will be through internal resources.
Tata Motors: Due to a sharp decline in the profitability of its luxury segment and an exceptional cost incurred on account of damage to its vehicles due to an explosion at China’s Tianjin port, Tata Motors on Friday reported consolidated net loss of Rs 411.1 crore for the July-September quarter.
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