Dr Reddy’s stocks will be in focus as it said that USFDA has extended the time-frame for replying to the warning letter issued to the company by about two weeks to December 7.(Photo: PTI)
The BSE Sensex was trading firm in morning trade on Friday following increased buying by investors as the December derivatives series began on a positive note. At 101.2 am, Sensex was trading 110.92 points up at 26,069.55. NSE Nifty was trading 43.90 points up at 7,927.70 during the same time.
Below are the stocks that are in focus today:
SKS Microfinance: Shares of micro lender was trading 4.67 per cent up at Rs 443.80 (At 9.43 am) after it announced a 1 per cent reduction in the interest rate charged to borrowers from 20.75 per cent to 19.75 per cent with effect from December 7, 2015, for all future disbursals.
Welspun Corp: Shares of the company were trading 10.50 per cent up at Rs 107.85 (at 10.30 am) after it won an order for supply of 216K MTs line pipes for an onshore project in Americas. With the addition of this order, current order book of the company has crossed 1040K MTs worth at Rs 6,400 crore.
IDBI Bank: The bank on Thursday said it has raised $350 million (about Rs 2,310 crore) from green bonds to fund clean energy projects.
Dr Reddy’s: Dr Reddy’s Laboratories Ltd (DRL) shares were trading 1.3 per cent down at Rs 3,068.00 after it said that the USFDA has extended the time-frame for replying to the warning letter issued to the company by about two weeks to December 7.
Liquor companies: Stocks of liquor companies will be in focus as Bihar Chief Minister Nitish Kumar on Thursday announced that it will go dry from April 1, 2016. This prompted concerns that other states could follow.
Reliance Infra: Pipavav Defence & Offshore Engineering plans to exit the corporate debt restructuring (CDR) package, post Reliance Infrastructure open offer. Reliance Infrastructure would begin the Rs 1,263 crore open offer to acquire additional 26 per cent stake in Pipavav Defence and Offshore Engineering Company (PDOC) on December 2. The open offer will close on December 15.
Reliance Industries: UK’s Hardy Oil & Gas plc on Thursday said it is in talks to acquire Reliance Industries’ entire 90 per cent stake in a gas discovery block off the Gujarat coast.
Coal India: Government has shortlisted five Indian merchant bankers, including JM Financial, SBI Capital and ICICI Securities, for managing the over Rs 21,000-crore stake sale in Coal India.
Polaris Consulting and Services: Sebi has ordered impounding of alleged ‘unlawful gains’ of over Rs 2 crore from Polaris’ promoter Arun Jain and its former CFO R Srikanth after finding them guilty in an insider trading case.
Ashok Leyland: Hinduja Group flagship company Ashok Leyland has received an order worth $200 million (around Rs 1,331 crore) from the West African country Cote D’Ivoire for the supply 3,600 trucks and buses.
Fortis Healthcare: The company on Thursday said one of its subsidiaries has entered into an agreement with RGAM Investment Advisors and other stakeholders to fully acquire Religare Health Trust Trustee Manager Pte Ltd for $14.9 million (about Rs 100 crore).
Max India: The company on Thursday said embedded value (EV) for its life insurance business, Max Life, was at Rs 5,363 crore as of September 30.
EID Parry: CRISIL has downgraded its Credit Rating to EID Parry’s Long Term Bank Facilities and Debt Programmes to ‘A+ /Stable’ from ‘AA-/ Stable’. The rating on the Company’s short term debt and bank loan facilities has been reaffirmed at ‘A1+’.
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