Stocks that made news today: SPARC, Infosys, Dr Reddy’s Labs and more

By: | Updated: September 28, 2015 4:42 PM

Stocks of Emami will be in focus after Japanese brokerage house Nomura downgraded the company's stocks citing high valuations.

Stocks in focus Infosys declined 2.91% on Monday after its rival Accenture projected first-quarter revenue below analysts’ average estimate on the back of strong dollar. (Express Photo)

The BSE Sensex and NSE Nifty India’s around 1 per cent lower on Monday in a late selloff sparked by wobbly European markets and caution a day ahead of the Reserve Bank of India’s policy meet. Sensex closed 246.66 points down at 25616.84. Nifty closed 72.80 points down at 7795.70.

Below are the stocks that remained in news today:

Sun Pharma and SPARC: Sun Pharmaceutical declined 3.42 per cent, while its research arm Sun Pharma Advanced Research Co (SPARC) also fell 2.54 per cent after the USFDA revoked approval for SPARC’s seizure drug, citing manufacturing quality problems at its plant.

Dr Reddy’s Laboratories: The pharma major gained over 5 per cent on Monday after it launched a generic version of AstraZeneca Plc’s heartburn pill Nexium in the United States on September 25.

Infosys:  IT bellwether Infosys declined 2.91 per cent on Monday after its rival Accenture projected first-quarter revenue below analysts’ average estimate on the back of strong dollar. Accenture forecast revenue of between $7.70 billion and $7.95 billion. Analysts were expecting revenue of $8.11 billion, according to Thomson Reuters I/B/E/S.

Adani Ports: Shares of Adani Ports moved up by around 2 per cent on Monday after the company replaced state-run iron ore miner NMDC on the National Stock Exchange’s benchmark index Nifty from today.

Gammon India: Gammon India shares surged over 8 per cent on Monday after the company announced on Thursday post market hours that it has secured the Engineering, Procurement & Construction (EPC) project worth Rs 1,709.99 crore from National Highways Authority of India (NHAI). The share price of the company closed 8.49 per cent up at Rs 12.27.

(With inputs from agencies)

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