Stocks in Focus on September 3: Biocon, KNR Construction to JK Tyre; here are the 5 Newsmakers of the Day
Certain stocks came in news after the market was closed on Friday and can have an impact on the market when it reopens today after three days break.
At the stock markets, the BSE Sensex climbed 263.86 points, or 0.71 per cent, to close at 37,332.79, on Friday, August 30, 2019, while the Nifty advanced 74.95 points, or 0.68 per cent, to 11,023.25 points. But certain stocks came in news after the market was closed and can have an impact on the market when it reopens for trading purpose on Tuesday, September 3, 2019. Here is a list of five such stocks:
Biocon: The biotechnology major Biocon on August 31, 2019, said the US health regulator, USFDA, has issued a Complete Response Letter (CLR) for a new drug application for insulin glargine filed by the company's partner Mylan. The CRL has been issued pending completion of the Corrective and Preventive Actions (CAPAs) submitted to the USFDA in response to the observations made after the pre-approval inspection of our insulin manufacturing facility of Malaysia in June 2019. Besides, USFDA conducted a cGMP inspection at one of our Biologics Drug Product facilities in Bengaluru from August 22-30, 2019 and concluded with four observations.
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Neuland Laboratories: The company on August 30, 2019, informed that it has received an Establishment Inspection Report (EIR) from the USFDA for its manufacturing facility located at Bonthapally, Hyderabad. The facility was inspected from June 17-21, 2019. The inspection has now been closed by the USFDA.
KNR Constructions: Infrastructure major, KNR Construction, said on September 1, 2019, that it has received a work order for Rs850 crores from M/s. Megha Engineering & Infrastructures Limited, Hyderabad, for construction and completion of Earthen Bund works which are part and parcel of 'Kaleshwaram Project-Formation of Sri Komuravelli Mallanna Sagar.
Larsen & Toubro (L&T): L&T Construction has secured a project from Navi Mumbai International Airport Private Limited (NMIAPL) for the engineering, procurement and construction of the greenfield Navi Mumbai International Airport. The key development spectrum covers departure and arrival forecourts, airfield development works that include a 3,700m-long runway, apron systems, taxiway systems, ground lighting and other facilities. It also includes the development of landside facilities covering roads, multilevel car parking, utilities and support facilities.
JK Tyre: JK Tyre promoters and a holding company of the company, Bengal and Assam Company, have repaid an Rs200 crore loan that it took from KKR Capital in March 2019. Earlier in March 2019, the company took borrowed Rs200 from KKR Capital by pledging shares owned by the promoters in JK Tyre.
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