GLAND PHARMA STOCK NEWS
Big movers on D-Street: What should investors do with Aurobindo Pharma, Tanla Platforms and IDBI Bank?
Sensex and Nifty hit record highs, driven by PSU banks and foreign inflows. Aurobindo Pharma rose 20%, with an overbought RSI, trading 9.5% above the mean. Tanla Platforms nears its 50-week average, trading sideways. IDBI Bank shows strong demand at 76, with the highest quarterly trading volume, and momentum approaching breakout.
Stock market update: Nifty Pharma index advances 1.13%
The Nifty Pharma index closed 1.13 per cent up at 20844.55.
Large, mid and smallcap stocks that mutual funds bought and sold in June
In June, mutual funds invested Rs 282 billion in Indian markets, buying largecaps like Reliance Industries and HDFC Bank. Midcaps included Mphasis, Indus Tower, ZF Commercial Vehicles; smallcaps included Aster DM Health, Sharda Motors. Crompton Greaves saw selling; Persistent System reduced. Three months' buys: Reliance, Hindustan Unilever, Lloyds Metals. New entries involved Stanley Lifestyle.
Tech stocks boost Nifty to fresh lifetime high, Sensex rises 200 pts
Nifty50 hit a record high driven by IT stocks on U.S. rate cut hopes. HCL Tech and BSE Sensex rose. Nifty IT, Auto sectors rose; Private Bank, FMCG, Realty sectors saw cuts. HCL, SBI, Infosys, Tech Mahindra gained. Likely 25 basis point rate cut amid rising food prices.
Stocks in news: HCL Tech, DMart, Jio Financial, HDFC Life, Kotak Bank
Domestic markets reached record highs. HCL Tech, DMart, Jio Financial, HDFC Life, Kotak Bank, HDFC AMC, and Angel One focus on results. Ashok Vaswani, Kotak’s new chief, stresses tech transformation. HCL Tech reports Rs 4,257 crore profit, Aurobindo Pharma plans share buyback, Blue Star's Rs 27,500 crore market growth projected. DMart profits Rs 774 crore. IREDA profits Rs 384 crore.
Stock market update: Nifty Pharma index advances 0.05%
The Nifty Pharma index closed 0.05 per cent up at 20612.65.
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Stock market update: Nifty Pharma index falls 0.6%
The Nifty Pharma index closed 0.6 per cent down at 20601.7.
Stocks in news: Nykaa, TCS, Tata Elxsi, Glenmark Life, YES Bank, Siemens
Markets fell half a percent. TCS, Tata Elxsi, Anand Rathi Wealth, and Akme Fintrade Q1 results are in focus. Canada Pension Plan sold Nykaa shares at Rs 174 apiece. Glenmark promoters to sell a 7.85% stake. Moody's affirmed YES Bank's Ba3 rating. Siemens and RVNL won the Bangalore Metro Rail Corp project. Kesoram posted a Rs 62 crore Q1 loss.
Block deals: Canada Pension Plan sells 0.5% in Nykaa for Rs 256 cr; Hema CIPEF offloads 0.46% in Mankind Pharma
Through the stake sale, Canada Pension Plan took home about Rs 256 crore. At the end of March quarter, it held 1.47% equity in the company. In separate deals, Capital group affiliate Hema CIPEF has sold 0.46% stake in Mankind Pharma for Rs 2,082 apiece, taking the total deal value to Rs 385 crore.
Stock market update: Nifty Pharma index advances 0.39%
The Nifty Pharma index closed 0.39 per cent up at 20725.95.
Emcure Pharma shares jump over 4% post listing. Should you buy, sell or hold?
Pune-based Emcure Pharmaceuticals listed at Rs 1,325, a 31.4% premium on Rs 1,008 IPO price. QIBs subscribed 195.8 times, non-institutional investors 48.3 times. Analysts recommend long-term holding. IPO proceeds target debt and corporate purposes. Offering products in therapeutic areas, Emcure recorded Rs 6,658 crore revenue in FY24 and operates in Europe, Canada.
F&O Stock Strategy: How to trade Sun Pharma and M&M?
Sun Pharma and M&M stocks exhibit bullish momentum with potential for gains. Technical and derivative factors support upward movement, suggesting breakouts. Recommendations include accumulating Sun Pharma near Rs 1590-1580 with a target of Rs 1700, and M&M near Rs 2930-2900 targeting Rs 3140.
Stocks in news: Delta Corp, Paytm, Delhivery, Mankind Pharma, JSW Steel
Sensex and Nifty hit records. Delta Corp's Q1 profit dips 34% to Rs 40.48 crore from Rs 61.43 crore last year. Paytm's One97 Communications faces labor notice. Bandhan Bank staff seek legal aid. JSW Steel updates production. Delhivery's equity sold by pension board. Hema CIPEF to sell Mankind Pharma stake. RVNL wins Nagpur Metro project. Mahindra cuts XUV700 price.
Stocks in news: JSW Infra, Stanley Lifestyles, SAMHI Hotels, Bank Of Baroda, IREDA
Indicating that the company is still interested in the mega Tajpur deep sea port in West Bengal, JSW Infrastructure Ltd said that it remains open to re-evaluate its strategy for the project.
Promoters on a selling spree amid red hot D-Street valuations
As the question of stretched valuations continues to swirl through Dalal Street, promoters seem to be firmly on course toward breaking the hitherto all-time calendar-year stock dilution record - set in the 2020 Covid era. So far in 2024, both domestic and overseas promoters have sold shares worth nearly ₹65,000 crore - not far from the 2020 high watermark of ₹78,500 crore.
Block deals worth over Rs 40,543 crore this week. Indus Towers, HAL, Suzlon Energy among stocks with major action
Despite the Nifty index closing the shortened trading week with a slight increase of 0.4%, significant activity was observed in block deals. Over three dozen companies across various market caps saw block deals worth a total of ₹40,543 crore, involving both buying and selling.
Indian rupee hits new lifetime low against US dollar. Are record block deals the culprit?
The Indian rupee fell to a lifetime low of 83.62 against the US dollar on Thursday. Record block deals worth Rs 23,000 crore on Wednesday, which included Vodafone Plc's stake sale in Indus Towers, is said to be among the triggers behind the INR slide. The local currency had closed at 83.4550 in the previous session.
Record block deals! Dalal Street scores Rs 23,000 crore screamer, from a Voda assist
Indian stock markets hit a milestone with record block deals worth ₹23,000 crore, driven by Vodafone Group's stake sale in Indus Towers.
Delta Corp shares surge 15% on GST cut hopes
Shares of Delta Corp, the sole listed company in India's casino gaming industry, saw a significant surge of nearly 15%. This increase in stock price came amidst expectations that the Goods and Services Tax (GST) Council might review the tax structure applicable to online gaming in its upcoming meeting scheduled for June 22.
Gland Pharma shares tumble over 3% after Fosun Pharma likely sells 6.2% stake via block deal
Shares of Gland pharma fell 3.7% as Shanghai-based Fosun Pharma offloaded a 6.2% stake in a block deal managed by UBS, decreasing its holding from 75% to 58.36%.
Stocks in news: Paytm, Indus Towers, Vedanta, Cipla, Gland Pharma
Domestic markets start positively with Paytm, Indus Towers, Vedanta, Cipla, Gland Pharma in focus. ZEE appoints acting CFO. Tata Technologies partners with Microsoft. Wabco to sell ZF equity. Craftsman Automation launches QIP. Fosun Pharma reduces stake. Vedanta monetises steel business. Goldman Sachs sells One 97 shares; Vodafone sells Indus Towers shares; Generative AI hackathon.
Fosun likely to sell 5% stake in Gland Pharma
Fosun will sell the shares at Rs 1750 per share which is 4.9% discount to the last traded price of Rs 1839.65. Fosun currently has a 57.86 percent shareholding in Gland Pharma.
Fosun is said to plan block deals to pare stake in Gland Pharma
The listed arm of billionaire Guo Guangchang’s Fosun International Ltd. holds about 58% of Gland Pharma, which has a market value 303 billion rupees ($3.6 billion). It will carry out more block sales in the coming months to shore up its balance sheet unless buyout firms make an offer, the people said.
Gland Pharma, Hindustan Copper among 18 stocks exited by 7 mutual funds in May
Around seven mutual funds exited from 18 stocks in their portfolio in May. Here is the breakdown of the stocks exited, according to Mutual Fund Insight by Nuvama Alternative & Quantitative Research.
7 mutual funds made complete exit from these midcap stocks
Mutual funds buy and sell stocks and manage their portfolios actively to offer better returns. Here are the midcap stocks which were expelled from 7 mutual funds’ portfolios in May, according to Mutual Fund Insight by Nuvama Alternative & Quantitative Research.
Stocks in news: ITC, IndiGo, Grasim, Power Grid, Nykaa, Gland Pharma
Grasim Ltd, part of the Aditya Birla Group, reported 39% growth in its consolidated net profit (excluding exceptional item) at Rs 1,908 crore for the quarter ended March 2024.
SAIL, IRCTC among top 10 mid cap stocks that mutual funds bought in April
Mutual funds actively buy and sell securities to manage portfolios and deliver superior returns. Here is the list of the top 10 midcap stocks bought by mutual funds in April, according to a report by ICICI Direct Research.
Gland Pharma shares fall 6% as ex-promoter likely sells stake in block deals
Shares of Gland Pharma dropped 6% to Rs 1,745 on BSE as entities related to ex-promoter Dr Ravi Penmetsa sold 5.5% equity. Large block deals of 91 lakh shares worth Rs 1,600 crore reported.
Stocks in news: Gland Pharma, Axis Bank, Tata Motors, UCO Bank, Jana SFB
Two entities – Nicomac Machinery and RP Advisory Services – are likely to sell upto 4.4% stake in Gland Pharma through block deals on Tuesday, according to news reports.
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