Stocks in Focus on September 18: Dr Reddy's, Cipla, Lupin, Happiest Minds Technologies to HDFC Bank; here are expected newsmakers of the day
Stocks in Focus on September 18: Dr Reddy's, Cipla, Lupin, Happiest Minds Technologies, HDFC Bank, etc. are expected newsmakers throughout the intraday trade session.
Stocks in Focus on September 18: Benchmark domestic stocks on Thursday, September 17, 2020, lost around 0.8 per cent snapping two day's winning rally amid negative global cues. S&P BSE Sensex dropped 323 points, or 0.82 per cent, to 38,979. The NSE Nifty 50 fell 85.30 points, or 0.75 per cent, to 11,519.25. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Friday, September 18, 2020. List of such five stocks:
Triggers: Certain events, like FTSE rebalancing, RITES Buyback and AGM, can create positive/ negative reaction in the share market when it opens today. Find them in detail:
FTSE rebalancing: The changes in FTSE rebalancing will be effective from closing today. FTSE announces changes to FTSE all-world Index. India is likely to witness net buying worth $ 140 crore after the rebalancing takes place.
RITES Ltd: The Board of Directors of the Company is scheduled to meet today to consider and approve the proposal for Buy-Back of the fully paid-up equity shares of the Company.
AGM: Annual General Meeting of companies, like Emami Ltd, Fine Organic Industries Ltd, Gulf Oil Lubricants India Ltd, HeidelbergCement India Ltd, Linde India Ltd, Mangalore Refinery and Petrochemicals Ltd, Shipping Corporation of India Ltd, Tamil Nadu Newsprint & Papers Ltd, Zee Entertainment Enterprises Ltd, Praj Industries Ltd and National Plastic Industries ltd, are scheduled to be held today.
See Zee Business Live TV streaming below:
Dr Reddy’s/ Cipla/ Lupin:
Dr Reddy’s: It has announced the settlement of litigation with Celgene, relating to Revlimid capsules. Celgene has agreed to provide DRL with the license to sell the volume-limited amount of the capsule in the US starting March 2022. The company is also allowed to sell the capsule without volume limitation, starting January 31, 2026.
Lupin/ Cipla: Ireland’s pharmaceutical company Perrigo has announced a voluntary recall of albuterol sulfate inhalation aerosol. The action was taken as there were complaints that some units may not dispense due to clogging. The action of Perrigo will have an indirect impact on Lupin and Cipla as it is likely to increase sales of the same drug manufactured by these companies.
EIH: The rights issue committee of the company has fixed September 23, 2020, as the record date for the Rights Issue or Rs 350 crore. The issue price has been fixed at Rs 65 per share. Shareholders will get 8 equity shares for every 85 equity shares held by eligible equity shareholders of the Company as on the record date.
Happiest Minds Technologies: Plutus Wealth Management buys 10 lakh shares at Rs 350 per share of the company.
HDFC Bank: Two US-based law firms, Rosen Law Firm and Schall Law Firm have filed class-action suits against HDFC Bank alleging misleading public statements and for failing to inform investors about the bank's improper internal controls on vehicle loans. They have filed suits against outgoing managing director Aditya Puri and new MD among others.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
SRH vs GT IPL 2024 Ticket Booking Online: Where and how to buy SRH vs GT tickets online - Check IPL Match 66 ticket price, other details
Top 7 SWP Mutual Funds: Rs 50 lakh investment, Rs 70K monthly pension for 10 years, and Rs 42.30 lakh balance value; know more details
Gold and Silver rate today (May 13, 2024): Precious metal under pressure; yellow metal near Rs 72,400, white metal above Rs 84,600
SIP Returns: How Rs 3,000, 5,000, and Rs 10,000 SIPs can help you build retirement corpus of Rs 1.06 cr, Rs 1.77 cr, and Rs 3.53 cr
08:01 AM IST