Stock Market News - Nestle Falls, Lupin gains, Laurus Labs Swings

Nestle Falls After Quarterly Results Announcement Shares of Nestle India fell as much as 1.5 percent to Rs 14,260 after the company announced September quarter results.

NEWS ALERT | Infosys looking to beef up whistleblower investigation: Report

-- Infosys rules out insider trading

-- Co in talks with law firms JSA Law, Khaitan & Co for investigation

-- Appointment of one or both of the above-mentioned companies, in addition to Shardul Amarchand Mangaldas already appointed

TOP GAINERS & LOSERS - 

NTPC, YES Bank and Tata Motors are the top gainers while Sun Pharma, Infosys, and IndusInd Bank are the top losers. The most active stocks included Reliance Infra, Bank of Baroda and YES Bank.

Rupee Update: The Indian rupee opened lower by 8 paise at 71.36 per dollar on Monday versus Friday's close 71.28.

Lupin share price gains on USFDA approval - The share price of Lupin gained over 1 percent in early trade on November 11 after the company received United States Food and Drug Administration (USFDA) approval for Zileuton Extended-Release Tablets.

The company has received approval for its Zileuton Extended-Release Tablets, 600 mg, from the USFDA, to market a generic equivalent of Zyflo CR Extended-Release Tablets, 600 mg, of Chiesi USA, Inc.

Sensex, Nifty Trade Lower - The Sensex was down about 65 points to 40,260, while the Nifty was trading below the 11,900-mark. Sun Pharma, Heromotocorp shares were among the biggest losers in Sensex, shedding up to 4%.

Laurus Labs Swings After FDA Issues Two Observations Shares of Laurus Labs fluctuated between gains and losses to trade 1.5 percent higher at 371.50. The drugmaker said that it has received two observations from the U.S. 

Food and Drug Administration for its FDF & API Integrated Facility, Unit 2 at Visakhapatnam. The company said that these observations are procedural in nature.

Ashok Leyland share price dips 5% after reporting massive Q2 profit slump at Rs 38 cr - The share price of auto major Ashok Leyland tanked over 5 percent at open on November 11 after the company reported a massive 92.6 percent year-on-year decline in its net profit at Rs 38.9 crore for the second quarter ended September 30, 2019. It had posted a net profit of Rs 527.7 crore in the year-ago period.

Kesoram Industries Surges After NCLT Approves Unit Demerger Shares of Kesoram Industries rose as much as 9.5 percent to 67.50. The Kolkata bench of National Company Law Tribunal has approved the demerger of the company’s tire business— Birla Tyres—to a separate company with effect from Jan. 1, 2019. 

Trading volume was almost four times its 20-day average, Bloomberg data showed. The stock advanced 12 12 percent in the past five days and rallied 34 percent in the past 30 days.

SOURCE

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