Stocks in Focus on November 27: Pharma Companies, HCL Tech, ICICI Bank; here are the 5 Newsmakers of the Day
Domestic Indian markets on Tuesday, November 26, 2019, hit new milestones but failed to hold on to gains and ended moderately lower. But certain stocks came in news after the market was closed for trading purposes.
Domestic Indian markets on Tuesday, November 26, 2019, hit new milestones but failed to hold on to gains and ended moderately lower. But certain stocks came in news after the market was closed for trading purposes. These stocks can have an impact on the indices when it reopens on Wednesday, November 27, 2019. Here is a list of five such stocks:
CSB IPO: The Rs410 crore public issue of Kerala-based lender CSB Bank closed on Tuesday, November 26, 2019. The IPO has been oversubscribed by 86.93 times. The retail investor portion was oversubscribed 44.53 times. Meanwhile, Qualified Institutional Buyer (QIB) was subscribed 62.18 times. The price band for the CSB Bank IPO was fixed between Rs 193 and Rs 195 per share.
Pharma Companies: Pharmaceutical companies like Sun Pharma, Cipla and Lupin among others will be in focus today because the domestic drug industry and trade have agreed to the government's proposal to cap trade margins for all medicines outside control at 30%. The move will reduce the prices of nearly 80% of formulations. Data available with the department of pharmaceuticals shows there are 10,600 non-scheduled drugs.
HCL Technologies: IT major HCL Tech has fixed December 7, 2019, as the record date for issuance of the bonus shares. The company had announced 1:1 bonus on October 28, 2019.
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ICICI Bank: Integrated Core Strategies Asia on Tuesday offloaded about 4.8 crore shares of ICICI Bank at Rs510 apiece.
Max India: The company has completed the divestment of its entire equity shareholding (about 85%) of its material subsidiary, Pharmax Corporation, to Max Estates Limited.
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