Top 5 stocks in focus on June 12: Fortis Healthcare, Welspun to IFCI; here are 5 newsmakers today
On Monday, June 11, 2018, the Indian market closed firmly in green, but there were certain stocks that made news on the day and its reflections can be seen during trade on June 12, 2018. The stocks that are in news today, like Fortis Healthcare to DCM Shriram, can display some positive or negative impact on the market today.
On Monday, June 11, 2018, the Indian market closed firmly in green, but there were certain stocks that made news on the day and its reflections can be seen during trade on June 12, 2018. The stocks that are in news today, like Fortis Healthcare to DCM Shriram, can display some positive or negative impact on the market today. Here are the stocks concerned:
Fortis Healthcare: The board of Fortis Healthcare has deferred the approval of the company's quarterly and annual financial results for the financial year 2017-18 to June 25. The results were postponed after the submission of a report by an external law firm, Luthra & Luthra Law Offices, which was appointed to investigate potentially fraudulent related party transactions in the group. The company informed the exchanges that it needs more time to consider the aspects of the outcome of an internal investigation on alleged financial irregularities.
Strides Shasun: The company's subsidiary Strides Pharma Global Pte has received final approval from the US Food and Drug Administration (USFDA) for generic Oseltamivir Phosphate Capsules. Strides Shasun in a BSE filing said that the approval was given for the capsules in the strengths of 30 mg (base), 45 mg (base) and 75 mg (base).
IFCI: The company has revised its benchmark lending rate by 0.20 per cent. With this increase, its lending rate went up to 10.40 per cent. The revision is effective from June 12, 2018.
DCM Shriram: The board of directors of the company will meet on June 18, 2018, to consider the proposal to buy-back the fully paid up equity shares of the company.
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Welspun Corp: The company has received a contract for the supply of 33 KMT of pipes for an oil and gas project in the American market. Earlier, the company had won contracts for the supply of 72 KMT of API pipes into the Americas market. The company in a release to the stock exchanges said that with this addition, the company's current order book stands at 1,643 KMTs, valued at Rs 11,400 crore.