Top 5 stocks in focus on September 21: GRSE, ONGC to Biocon, here are the 5 newsmakers of the day
After being volatile throughout the day, the domestic stock market ended on a negative note on September 21, 2018 as Sensex closed 280 points down and Nifty went below the mark of 11,150. But there were certain stocks that came in the news after the market was closed on the day and may have an impact on the market on September 24, 2018.
After being volatile throughout the day, the domestic stock market ended on a negative note on September 21, 2018 as Sensex closed 280 points down and Nifty went below the mark of 11,150. But there were certain stocks that came in the news after the market was closed on the day and may have an impact on the market on September 24, 2018. Here is the list of 5 of such stocks:
Garden Reach Shipbuilders & Engineers (GRSE): The state-run GRSE will open its initial public offering (IPO) for subscription today, September 24, 2018, with a price band of Rs 115-118 per share. The subscription of the issue will close on September 26. The public issue consists offer for sale of 2,92,10,760 equity shares by Government of India.
Oil and Natural Gas Corporation (ONGC): Reports suggest that the tax department has slapped ONGC Videsh, the overseas arm of state-owned ONGC, a service tax demand of Rs 7,666.10 crore on remittance the firm makes to its overseas subsidiaries for the past one decade. The tax demand pertains to the period 2006 to 2017.
Biocon: The biopharmaceutical firm and its partner Mylan on Friday, September 21, 2018, said the European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP) has recommended approval of Filphila or pegfilgrastim, a biosimilar version of Amgen’s Neulasta that is used to stimulate the level of neutrophils. Neutrophils are a type of white blood cell that gets damaged in cancer patients undergoing chemotherapy. In addition, Biocon also said that it underwent US FDA audit of its Bengaluru API drug substance manufacturing facility in Bengaluru without any observations.
McLeod Russel: The company has announced its fourth tranche of the asset sale and for the purpose, the Williamson Magor Group company McLeod Russel India has signed agreements with two Kolkata-based non-tea firms to sell a total of six tea estates in Assam and Dooars for the total consideration of Rs 232.32-crore.
INOX Leisure Limited: INOX, India's second-largest multiplex chain, has terminated its contract with BookMyShow (BMS), the country’s biggest online ticketing platform, after a disagreement over payments. Later, BMS challenged the action, termination of the agreement, of INOX in Bombay High Court, which asked both parties on September 18 to start arbitration on the matter and reach a decision in four weeks.