Dr Reddy’s Laboratories stocks will be in focus as the USFDA, which had issued a warning letter to the company over quality issues, has said it may withhold approval of its fresh drugs and stop import if no corrective action is taken.
The BSE Sensex and NSE Nifty was trading strong on Thursday on hopes parliament would consider a key reform on a goods and services tax, but traders also braced for volatility ahead of the expiry of derivatives later in the session.
At 3.22 pm, Sensex was trading 180.99 points up at 25,956.73. NSE Nifty was trading 52.30 points up at 7,883.90.
Below are the stocks that are likely to be in focus today:
DLF: Shares of the company were trading 3.55 per cent up at Rs 110.80 (at 10.17 am) after realty major’s promoters bought 23 lakh shares of the company through open market transactions for nearly Rs 25 crore, raising their stakes to 74.99 per cent.
Lanco Infratech: Shares of Lanco Infratech hit upper circuit for the second consecutive trading session on Thursday on reports that the company will raise about Rs 6,600 crore ($ 1 billion) through the sale of one of its large power projects and listing of its power business in the next two years. The share price of the company surged 9.86 per cent to Rs 7.02.
Lumax Automotive: Lumax Automotive Systems was locked in upper circuit of 20 per cent on the BSE after the company said it filed application with the Board for Industrial and Financial Reconstruction (BIFR) for determination of the measures which shall be adopted with respect to the company.
Dr Reddy’s Laboratories: Dr Reddy’s shares were trading 6.29 per cent down at Rs 3175.55 (at 9.30 am) after the US Food and Drug Administration, which had issued a warning letter to the company over quality issues, said it may withhold approval of its fresh drugs and stop import if no corrective action is taken.
Larsen and Toubro: Stocks of the company were trading 0.50 per cent up at Rs 1349.00 (1.01 pm) after the engineering major said power transmission and distribution business of L&T Construction has bagged orders worth Rs 1,038 crore in domestic and international markets so far this month.
Videocon Industries: Shares of the company surged as much as 10 per cent after Idea Cellular signed a pact with Videocon Telecommunications to buy its airwaves in Gujarat and Uttar Pradesh West for Rs 3,310 crore.
Tata Motors: Tata Motors-owned Jaguar Land Rover will invest 450 million pound (over Rs 4,500 crore ) to double the size of its Midland-based Engine Manufacturing Centre (EMC).
Reliance Communications: The company is close to finalising a deal to sell its entire stake in tower unit Reliance Infratel, sources aware of the development said. RCom owns about 96 per cent stake in Infratel and the sale would fetch it around Rs 22,000 crore, which will be used to retire some debt.
Sun Pharma: Drug major Sun Pharmaceutical Industries today said its Israeli arm Taro has decided not to proceed with an investment in a wind energy project in the US.
Hero MotoCorp: US private equity firm Bain Capital is selling shares in Hero MotoCorp Ltd, the world’s largest seller of motorcycles and scooters, to raise as much as $116 million, IFR reported, citing a person close to the deal.
Power Finance Corp: The company on Tuesday said its arm PFC Consulting Ltd has transferred three wholly owned subsidiaries to Adani Power Ltd.
Nestle India: Stocks of the company will be in focus as apex consumer court NCDRC on Tuesday reserved order on whether 31 more samples of Maggi noodles should be sent for testing in connection with the government’s Rs 640 crore suit against Nestle India for alleged unfair trade practices.
National Aluminium Company (Nalco): The company has received $ 8.05 million towards an out of court settlement from an US Firm in connection with a case pending in the US Court.
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