Stock Market News- BHEL Gains, Laurus Labs Gains,S Chand Falls

BHEL Gains - After Order Win Shares of Bharat Heavy Electricals rose as much as 1.9 percent to Rs 69.95. The state-run firm won Rs 800 crore Engineering, Procurement and Construction orders for 200 MW solar power plants from NTPC Ltd. and Gujarat State Electricity Corporation Ltd. The stock traded at 16 times its estimated earnings per share for the coming year.

News Alert -

1 Vedanta down 2%

2 Reliance Industries down over 1.5%

3 NDTV slips over 3% after Sebi takes action against Prannoy Roy and Radhika Roy

4 Jet Airways plunge over 11%

Shriram Transport Finance Falls - Nearly 8% After Block Deals Shares of Shriram Transport fell as much as 7.8 percent to Rs 1,000, the lowest in a month. About 2.26 crore shares or 10 percent equity of the company changed hands in two block deals, Bloomberg data showed. Buyers and sellers were not known immediately. Trading volume was 2,529 times its 20-day average.

Rupee Opens: The Indian rupee opened flat at 69.80 per dollar on Monday versus Friday's close 69.80.

Top Gainers & Losers - Cadila Healthcare, Aurobindo Pharma, Asian Paints, L&T, Titan Company, ICICI Bank, M&M are some of the major gainers on the indices in the early trade, while losers are Shriram Transport, JSW Steel, Tata Steel, Axis Bank, and IndusInd Bank. Among the sectors, except infra, all other sectoral indices are trading lower.

Laurus Labs Gains - After Regulatory Inspection Shares of the drugmaker rose as much as 3.6 percent to Rs 350.80. The pharmaceutical company received two observations from the inspection of Active Pharmaceutical Ingredients facilities in Andhra Pradesh by the U.S. Food and Drug Administration.

S Chand Falls - For Fifth Day, Shares At Record Low Shares of the book publishing company fell nearly 3.1 percent to a record low of Rs 84.25 apiece. Market regulator SEBI fined the company’s Chief Financial Officer Saurabh Mittal for violation of insider trading norms, according to its exchange notification. the penalty amounts to Rs 1.29 lakh.

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