Stocks of Asian Paints soared over 6 per cent after it posted 18.46 per cent increase in consolidated net profit at Rs 552.56 crore for the first quarter ended June 30, 2016 as compared to net profit of Rs 466.42 crore in the same period of previous fiscal.
Domestic equity indices BSE Sensex and NSE Nifty ened higher on Thurday after the Union Cabinet approved changes in the GST Constitutional Amendment Bill providing for full compensation to states for first five years of roll out of the new indirect tax regime, taking it a step closer to reality. Sensex closed 184.29 points up at 28208.62, while Nifty settled 50.50 points up at 8666.30.
Below are the 10 stocks that remained in news today:
RPG Life Sciences: Stocks of pharma company jumped over 8 per cent after it inked a pact to acquire 7 prescription brands from Sun Pharmaceutical for a consideration of Rs 41 crore.
Asian Paints: Stocks of Asian Paints soared over 6 per cent after it posted 18.46 per cent increase in consolidated net profit at Rs 552.56 crore for the first quarter ended June 30, 2016 as compared to net profit of Rs 466.42 crore in the same period of previous fiscal.
Bharti Airtel: Stocks of the telecom major declined 0.12 per cent after it posted 31 per cent fall in consolidated net profit figures at Rs 1,462 crore for the quarter ended June 30, 2016 against Rs 2,113.20 crore in the same quarter last year.
Torrent Pharmaceuticals: Stocks of the pharma company gained over 1.50 per cent despite the company posted 55.07 per cent fall in consolidated net profit at Rs 292 crore for April-June period on account of fall in company’s US business. It had reported a net profit of Rs 650 crore for the same period year ago.
Sun Pharma: Sun Pharmaceutical Industries along with its subsidiaries or associate companies (collectively Sun Pharma) has entered into a licensing agreement with Almirall for development and commercialization of tildrakizumab for psoriasis in Europe. Tildrakizumab is an investigational IL-23p19 inhibitor currently being evaluated in patients with moderate-to-severe plaque psoriasis. Stocks of the company closed 2 per cent up at Rs 823.80.
Zen Technologies: Stocks of the company closed over 2.50 per cent up after it said that it has bagged the biggest export order till date of about Rs 30 crore. The Ministry of Defence (MoD), Government of Egypt has chosen Zen Technologies to provide range of training equipment including Smart Target Systems. The company emerged as the front runner against tough international competition from global companies.
Lupin: Stocks of the drug company settled 0.86 per cent down after it received tentative approval from the US health regulator to market generic Lexiva tablets used for treatment of HIV infection in the American market.
Indian Hume Pipe Co. Ltd: Stocks of the company were trading 19.99 per cent up at Rs 544.10 (9.34 am) after it reported 311.17 per cent rise in net profit at Rs 26 crore for the quarter ended June 30, 2016 against Rs 6.32 crore in the corresponding quarter a year ago.
Shriram Transport Finance Company: Stocks of the company settled nearly 2 per cent down despite it posted an increase of 16.5 per cent in its net profit at Rs 374.10 crore for the quarter ended June 2016. Net profit was at Rs 321.11 crore in the same quarter of 2015-16.
Welspun Corp: Welspun Corp shares gained 0.79 per cent on Thursday despite its consolidated net loss of the company widened to Rs 9.39 crore for the quarter ended June 30, 2016 against net loss of Rs 0.62 crore in the corresponding quarter a year ago. Total income from operations of the company slid by 3.29 per cent to Rs 1,556.36 crore against Rs 1,609.41 crore in the same quarter last year.