Natco Pharma said it has received “minor” observations by US Food & Drug Administration (USFDA) following recent inspections at its two facilities and they will not have an adverse impact on its current or future products.
Domestic key benchmark index BSE Sensex and NSE Nifty plunged over 1 per cent on Monday on account of profit booking. The 30-share index closed 371.16 points down at 24966, while the 50-share Nifty closed 101.40 points down at 7,615.
Below are 10 stocks that remained in news today:
GVK Power: GVK Power share price surged over 10 per cent intraday on Monday after it informed bourses that the board has approved the sale of 33 per cent stake in Bangalore International Airport to FIH Mauritius Investments and Fairfax India Holdings Corporation for a consideration of Rs 2,149 crore. The share price of the company closed 6.43 per cent up at Rs 7.12.
NTPC: NTPC has commissioned the Unit – 4 of 195 MW of Muzaffarpur Thermal Power Station of Kanti Bijlee Utpadan Nigam (A subsidiary Company of NTPC) has been commissioned on March 24, 2016. With this, the total installed capacity of Muzzafarpur Thermal Power Station has become 610 MW and the total installed capacity of NTPC group has become 45993 MW. Shares of NTPC settled 1.06 per cent up at Rs 128.70.
PVR: PVR shares jumped marginally 0.19 per cent to Rs 715 on Monday. PVR on Sunday launched Superplex, a premium concept that will house 15 movie screens in one multiplex. Located at the Logix City Centre in Noida, Superplex is the latest addition to PVR’s wide array of cinema concepts, which includes PVR Heritage, PVR Premier, PVR IMAX, PVR Director’s Cut, PVR Gold Class, PVR Premiere and PVR Icon.
Glenmark Pharma: Glenmark Pharma received final approval by the USFDA for Drospirenone and Ethinyl Estradiol Tablets USP, 3 mg/ 0.03 mg, the generic version of Yasmin Tables of Bayer HealthCare Pharma Inc and for Levonorgestrel Tablets, 1.5 mg, the generic version of Plan B One-Step Tablet of Teva Branded Pharma Products R&D, Inc, for over-the-counter (OTC) use as recommended in the submitted labelling. Shares of Glenmark Pharma closed 0.36 per cent down at Rs 819.15.
Natco Pharma: Natco Pharma shares slid over 12 per cent on Monday after it said the company has received “minor” observations by US Food & Drug Administration (USFDA) following recent inspections at its two facilities and they will not have an adverse impact on its current or future products.
Tata Motors: Tata Motors, the country’s largest automotive manufacturer, has won a follow-on contract from the Indian Army to supply 619 units of its high-mobility vehicle (HMV) 6X6 multi-axle truck. Built with a material handling crane, the Tata 6X6 HMV is meant for loading and unloading and transportation of ammunition pallets, spares and other operational equipment. This is in conjunction to an earlier order awarded to Tata Motors for 1,239 units of its 6X6 HMV, and is the single largest order awarded to an Indian private Original Equipment Manufacturer in land systems by the Indian Army, under the Indian Ministry of Defence DPP (Defence Procurement Procedure). Shares of Tata Motors closed 3.63 per cent down at Rs 363.25.
BHEL: Bharat Heavy Electricals (BHEL) has successfully commissioned a 600 MW coal-based thermal power plant in Telangana. The unit has been commissioned at the upcoming 2×600 MW Singareni Thermal Power Project (TPP) located in Adilabad district in Telangana. The project is being developed by Singareni Collieries Company (SCCL), India’s second largest coal mining company. With the commissioning of this unit, SCCL has now successfully diversified into the power generation business. Significantly, this is the second thermal plant commissioned by BHEL in Telangana within a short span of three months. BHEL closed 2.92 per cent down at Rs 113.15.
Lloyd Electric: Lloyd Electric & Engineering has acquired Noske-Kaesers Rail & Vehicle global business in Germany, New Zealand, Australia, Brazil and the United States. The acquisition enhances Lloyd’s strength in the rail ‘HVAC’ systems business. Lloyd becomes India’s first rail HVAC Company, having presence the five continents across the globe. The company has acquired 100% of the assets of Noske-Kaeser Group in Germany through an SPV (Special Purpose Vehicle) formed in Hamburg, Germany. It has also acquired 100% of shares in Noske-Kaeser’s group companies located in New Zealand, Australia, Brazil and the US after carve out of the non-rail & vehicles business. Shares of Lloyd Electric closed 2.46 per cent up at Rs 229.10.
GMR Infrastructure: GMR Infrastructure and GMR Highways have signed a share purchase agreement with joint venture partners to divest 51 percent stake in GMR OSE Hungund Hospet Highways (GOHHHPL). GMR OSE operates the Hungund-Hospet section of National Highway No 13, which is a 99-kilometre (km) project in Karnataka, which was won by the GMR OSE consortium in 2010 on design, build, finance, operate, and transfer basis. Oriental Structural Engineers (OSE) is the joint venture partner in the project. The sale is envisaged in two tranches, with OSE first buying 14.99 percent stake of the project from the GMR group. The second tranche will be completed after approvals from National Highways Authority of India, lenders of GMR OSE and other closing conditions typical of such transactions.
IL&FS Engineering and Construction Company: IL&FS Engineering and Construction Company and Unitech Power Transmission Joint Venture (JV) has received letter of award for Rs 153.99 crore turnkey works of 765 kV transmission line in Gujarat from Power Grid Corporation of India (PGCIL). The scope of work includes supply contract for tower package for 765 kV Bhuj-Banaskanta Transmission Line associated with green energy corridor. The project completion period is 24 months from the date of issue of the LoA. The contract has been won under international competitive bidding process and the project is funded by the KFW Bank.