1. Hindalco, Maruti Suzuki among 8 stocks that remained in news today

Hindalco, Maruti Suzuki among 8 stocks that remained in news today

Hindalco shares gained nearly 5 per cent on Tuesday after Aditya Birla Minerals (ABML) announced that Metals X has announced its intension to increase the consideration offered under its off-market takeover offer to acquire all the shares in ABML

By: | Updated: April 26, 2016 4:20 PM
Stocks in focus Share price of the company gained over 3 per cent despite reporting 11.7 per cent decline in net profit to Rs 1,133.6 crore for the fourth quarter ended March 31.

The BSE Sensex reclaimed 26000-mark and Nifty 7,950 mark on Tuesday on account of firm global cues. The 30-share index closed 328 points up at 26,007, while Nifty gained 107.60 points at 7,962.65.

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Below are eight stocks which remained in news today:

Maruti SuzukiShare price of the company gained over 3 per cent despite reporting 11.7 per cent decline in net profit to Rs 1,133.6 crore for the fourth quarter ended March 31. The scrip surged after company posted better-than-expected margins for the quarter ended March 2016.

Aurobindo Pharma: Shares of Aurobindo Pharma gained over 1 per cent after it informed bourses that it has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Amlodipine and Valsartan Tablets USP, 5 mg/160 mg, 10 mg/160 mg, 5 mg/320 mg and 10 mg/320 mg. This product is expected to be launched in Q1 FY16-17.

Bharat Forge (BFL): Bharat Forge (BFL) on Tuesday announced that the company has entered into a contract with Boeing for developing and manufacturing 777x titanium forgings. BFL has started supplying titanium forged flap tracks for the Boeing Next Generation 737 airplane earlier this year. BFL will also supply forgings for the 737 MAX, scheduled to enter services in 2017. Shares of BFL closed 1.47 per cent up at Rs 808.05.

Godfrey Phillips India Ltd: Stocks of the company closed 17.54 per cent down after a report said that the government is now working on a proposal to completely ban foreign direct investment (FDI) in the tobacco sector. Major cigarettes manufactures including ITC, Godfrey Phillips and VST had raised serious concerns over this move.

Engineers India Ltd: EIL signed a contract with Bangladesh Petroleum Corporation (BPC) for providing PMC Services for “Installation of ERL Unit-2” in Bangladesh. Shares of EIL closed 1 per cent up at Rs 182.30.

SRS Real Infrastructure: The company informed BSE that its Board of Directors in its meeting held on April 25 have decided to sell its whole shareholding of Joint Venture Company, M/s SRS Lotus Projects Pvt. Ltd. for a consideration of Rs 50 lakhs. Shares of SRS Real Infra closed 3.92 per cent down at Rs 11.75.

Hindalco: Hindalco shares gained nearly 5 per cent on Tuesday after Aditya Birla Minerals (ABML) announced that Metals X has announced its intension to increase the consideration offered under its off-market takeover offer to acquire all the shares in ABML by increasing the scrip consideratin to 1 Metal X shares for every 4.5 ABML shares and adding a cash component of $0.08 per ABML share. Aditya Birla Minerals is an Australian based mining company and Hindaco holds 51 per cent stake in ABML.

Mahindra Lifespace Developers: Shares of the company gained over 3 per cent after the company reported 58.81 per cent rise in its consolidated net profit figures at Rs 48.63 crore for the quarter ended March 2016. The company had reported net profit of Rs 30.62 crore in the corresponding quarter a year ago.

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