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Stock Market News - Dr. Reddy's Falls, Britannia, Yes Bank top losers

Dr. Reddy's Falls - After U.S.FDA Inspection Shares of the drugmaker snapped its two-day rally and fell 2.5 percent intraday to Rs 2,491 each. The Hyderabad-based company received eight Form 483 observations by U.S. FDA in the audit of formulations manufacturing plant at Duvvada, Vishakapatnam, according to an exchange filing.


Buzzing: Sun Pharma Advanced Research Company declined more than 3 percent on August 21 after a complaint filed by the US company in US District Cour

Rupee opens higher: The Indian rupee gained in the early trade on Wednesday. It has opened higher by 25 paise at 71.45 per dollar versus previous close 71.70.

CATCH-ALL MARKET UPDATES - 
  • Infosys up 1%
  • BPCL trades flat
  • SpiceJet up over 1%
  • Alembic Pharma up 2%
  • Dr. Reddy labs slip 1.7%
  • Deepak Nitrite gains 1.4%
  • Eicher Motors gains 1.5%
  • Sun Pharma slips over 2%
  • Oberoi Realty slips over 6%
  • YES Bank hits a record low
  • Nifty Metal index slips 1.5%
  • Britannia Industries slips 3.7%
  • Indiabulls Housing Fin dips 2%
  • Hindalco Industries trades in the red
  • HDIL tanks 15% in the morning deals
  • CG Power again hits 20% lower circuit
  • Max Financial Services trades flat with negative bias
  • Capacity Infra tanks 28% in 2-days on IT raid report; hits record low
  • CG Power locked in 20% lower circuit band for second consecutive day

TOP GAINERS & LOSERS - 

Biocon, Alembic Pharma, Sun Pharma, Maruti Suzuki, Infosys, TCS, NTPC, Power Grid, Bajaj Auto and Hero MotoCorp are among major gainers, while losers include Britannia, Yes Bank, Hindalco, Tata Motors, Vedanta, SPARC and Asian Paints. Among sectors, except IT other indices are trading lower led by the metal, FMCG and energy.

IL&FS board seeks NCLT nod to sell wind assets to Orix Corp for Rs 4,800 cr - The IL&FS Board on Tuesday sought the approval of the National Company Law Tribunal (NCLT) to sell seven wind assets to Japan's Orix Corporation for Rs 4,800 crore, which will help reduce its debt burden of Rs 94,000 crore. Orix Corporation of Japan is already an equity partner in the group and owns a 49 percent stake in each of these seven operating wind power plants. 

Promoter increases stake in United Spirits: Shares of United Spirits gained 3.4 percent on August 21 after promoter Relay BV acquired more shares and an increased stake in the company.

Deepak Nitrate Rises After ICRA Upgrade - Shares of the chemicals manufacturer rose 3.4 percent to Rs 283.85 each. ICRA upgraded long term ratings to ‘AA-’ from ‘A+’ and outlook was changed from ‘Positive’ to ‘Stable’, according to an exchange notification.

Mangalore Refinery & Petrochems hits 52-week low -- Stock continues to be under pressure after it said on Monday that it has shut down the phase-3 process units of the refinery as a precautionary measure following a minor landslide in the area.

Britannia Hits 18-Month Low - Shares of the Wadia-Group company declined for the third session in a row after it fell close to 4 percent to Rs 2,300 each. The trading volume was more than seven times the 20-day average for this time of the day, according to Bloomberg data. The relative strength index was below 30, indicating the stock may be oversold. 

Shares of NMDC fell over 1 percent on August 21 after Karnataka government withdraw the approval to extend the mining lease.


Market News | Bank Nifty | Rupee | Buzzing Stock | Top Gainers | Dr. Reddey





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