Coffee Day, Sun Pharma among five stocks in focus today
Sun Pharma said its arm DUSA has filed trade secret misappropriation and tortious interference claims in an ongoing patent infringement lawsuit against Biofrontera.
The Sensex and Nifty are expected to open higher on Thursday after global markets recovered slightly as markets tried to consolidate from the previous session’s steep losses when fears of an escalation in the US-China trade war jolted investor sentiment. At 8:00 am, SGX Nifty was trading at 10,975, up 27.50 points or 0.25 per cent.
MSCI’s broadest index of Asia-Pacific shares outside Japan inched up 0.05 per cent. The index slumped 1 per cent on Wednesday along with a slide in global equities after US President Donald Trump’s threat to imposing tariffs on another $200 billion of Chinese goods deepened the trade row between the world’s two largest economies.
Hong Kong’s Hang Seng rose 0.2 per cent and the Shanghai Composite Index bounced 1.1 per cent. Australian stocks rose 0.7 per cent, South Korea’s KOSPI added 0.35 per cent and Japan’s Nikkei gained 1.1 per cent.
Here are key stocks in focus:
Telecom stocks: The Telecom Commission today approved net neutrality rules which bar service providers from discriminating against Internet content and services by blocking, throttling or granting them higher speed access. Some mission critical applications or services like remote surgery and autonomous cars will however be kept out of the purview of net neutrality framework.
Sun Pharma: Sun Pharma said its arm DUSA has filed trade secret misappropriation and tortious interference claims in an ongoing patent infringement lawsuit against Biofrontera. DUSA Pharmaceuticals Inc has filed the claims "in an ongoing patent infringement lawsuit against Biofrontera Inc, Biofrontera Bioscience GmbH, Biofrontera Pharma GmbH, and Biofrontera AG in the United States District Court for the District of Massachusetts", Sun Pharmaceutical Industries said in a statement.
Power Grid: POWERGRID WARORA TRANSMISSION LIMITED, a 100% wholly owned subsidiary of Power Grid Corporation of India Limited, secured through Tariff Based Competitive Bidding (TBCB), has successfully put the elements into commercial operation progressively from November, 2016 and the entire project put into commercial operation by 10th July, 2018.
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Kwality: The Board of Kwality unanimously decided to close business operations of Kwality Dairy Products FZE Dubai- UAE (A wholly owned Subsidiary) of the Company in phased manner.
Coffee Day Enterprises: The Material subsidiary of Coffee Day Enterprises, 'Coffee Day Global Limited' (CDGL) has entered into an agreement with UBER Portier wherein CDGL is partnering with UBER for obtaining technology services through the 'UberEats' mobile application in order to enable distribution of food products. This may help to augment the retail sale.