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Stock Market News - Aurobindo Pharma falls, Lakshmi Vilas Bank Fall

NEWS ALERT | L&T Construction bags an EPC order worth Rs 1,000-2,500 cr: BSE filing
-- In the Republic of Mozambique, the business has secured an order for Engineering, Procurement, and Construction of a 400kV overhead transmission line between the towns of Chimuara and Alto Molocue in Zambezia Province.


-- On the domestic front, an order has been secured for modernizing the electrical distribution network in several sectors of Gurugram Smart City in Haryana. 

Aurobindo Pharma Resumes Decline; Shares Fall 6% -  Shares of Aurobindo Pharma resumed declines after a one-day breather. The stock fell as much as 7.9 percent to Rs 436.65. The company clarified earlier this week that none of the observations that were issued by the U.S. FDA were related to data integrity and the drugmaker said it is confident of addressing them within the stipulated timeline.

Torrent Pharma Falls As Regulatory Concerns Prevail Shares of Torrent Pharma fell as much as 6.7 percent, the most since May 21, to Rs 1,555. The pharmaceutical company received a warning letter from the U.S. drug regulator for its Indra, Gujarat facility, barring fresh approvals from its largest unit that contributes to the bulk of its sales in the American market.

Rupee opens higher: The Indian rupee gained in the early trade on Thursday. It has opened higher by 12 paise at 70.95 per dollar against previous close 71.07.

Indoco Remedies Gains After Large Trade Shares of Indoco Remedies rose as much as 5 percent to Rs 146.10. About 12.8 lakh shares of the company changed hands in a large deal, Bloomberg data showed. Buyers and sellers were not known immediately. Of the shares traded, 54 percent were at the asking price and 38 percent were at the bid, according to Bloomberg data.

Indiabulls Housing Finance, Lakshmi Vilas Bank Fall After RBI Rejects merger Shares of Indiabulls Housing Finance fell as much as 8.3 percent to Rs 220.20 while shares of Lakshmi Vilas Bank was locked in lower circuit of 5 percent at Rs 25.65. The proposed merger of private sector lender with home financier failed to receive approval from the Reserve Bank of India.

Vodafone Idea, Bharti Airtel Surge After Jio Call Price Revision Shares of Vodafone Idea rose as much as 17.9 percent to Rs 6.9, while shares of Bharti Airtel rose as much as 7.1 percent to Rs 385. 

Forced by regulatory uncertainty over the review of sunset clause for call termination charges, Mukesh Ambani's Reliance Jio Infocomm Ltd. Wednesday announced it will charge customers 6 paise per minute for voice calls made to rival phone networks, but will compensate them by giving free data of equal value.


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