Top 5 stocks in focus on October 22: Biocon, Lupin to LMW, here are the 5 newsmakers of the day
Stocks of Biocon will be in focus today as the Biopharma major Biocon and its partner Mylan on Friday announced that the European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP) has issued a positive opinion recommending approval of Ogivri.
Nifty 50 and Sensex closed in the red on Friday, October 19, 2018, but there were certain stocks that came in the news after the market was closed for trading. These stocks can have an impact on the market after it reopens today, October 22, 2018, for trading. Here is the list of five stocks:
Biocon: Stocks of Biocon will be in focus today as the Biopharma major Biocon and its partner Mylan on Friday announced that the European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP) has issued a positive opinion recommending approval of Ogivri. The CHMP opinion for the drug, a biosimilar to Roche’s Herceptin (trastuzumab), will now be considered by the European Commission and the decision on approval is expected by year-end.
Lupin Limited: The company's NaMuscla (mexiletine hydrochloride) has received a positive opinion from the European Medicines Agency (EMA). EMA has recommended marketing authorisation of its product NaMuscla, used for the symptomatic treatment of non-dystrophic myotonic (NDM) disorders. CHMP has adopted the positive opinion of EMA.
Srei Infrastructure Finance Limited: The company in its statement clarified that "Rumour of layoff is absurd and there is no liquidity problem/slowdown in business". Earlier, there was a report claiming that the company is handing out pink slips to several employees.
Reliance Power: Sasan Power, a wholly owned subsidiary of Reliance Power, on October 18, 2018, won an arbitration award against North American Coal Corporation (NACC). NACC's claim ofRs. 235 crore (US$ 32 million) consisting of liquidated damages, interest and the legal cost has been dismissed. As per a decision of International Court of Arbitration, International Chamber of Commerce, Sasan power is required to pay only, as per the Contract, outstanding invoices of Rs 17 crore (US$ 2.3 million) to NACC.
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Lakshmi Machine Works (LMW): The Board of Directors of the company will meet today, October 22, to consider a buyback proposal along with quarterly results for the September quarter.