Stocks in news: SPARC, Gammon India and more
September 28, 2015
The benchmark Bombay Stock Exchange (BSE) Sensex closed 246 points down on Monday on caution ahead of RBI policy review scheduled on Tuesday. The barometer 30-scrip sensitive index (S&P Sensex) closed at 25,616.84, lower by 246.66 points or 0.95 per cent.
On similar lines, the National Stock Exchange (NSE) Nifty closed 72.80 points lower at 7,795.70.
Below are the key stocks that remained in news today:
- Dr Reddy's Laboratories: Shares of Dr Reddy's Laboratories (DRL) on Monday surged 6.5 per cent after the company launched the generic version of Astrazeneca's Nexium, used to treat acid reflux, in the US market. The stock closed 5.54 per cent up at Rs 4191.85 apiece at the BSE.
- Sun Pharma Advanced Research Company (SPARC): Sun Pharma Advanced Research Co Ltd (SPARC) closed 2.62 per cent down at Rs 375.80 apiece on Monday after USFDA revoked approval for SPARC's seizure drug, citing manufacturing quality problems at its production site. SPARC had said it would produce the drug at Sun Pharma's Halol plant, in Gujarat. SPARC said the FDA issued a "complete response letter," saying "the compliance status of the manufacturing facility was not acceptable on the date of approval."
- Sun Pharmaceutical Industries: Sun Pharma group stocks fell after USFDA revoked approval for its research arm SPARC's seizure drug, citing manufacturing quality problems at its production site. The scrip fell 3.42 per cent down at Rs 860.80 apiece on Monday.
- Gammon India: Shares of construction and engineering major Gammon India surged over 16 per cent on Monday as the company has bagged a Rs 1,708 crore project from the central government for widening of an important stretch of National Highways in Jammu & Kashmir. Gammon India's scrip zoomed 8.49 per cent to close at Rs 12.27 at the BSE.
- Steel Authority of India Ltd (SAIL): Domestic steel giant SAIL said it is investing over Rs 2,600 crore for installing a three million tonnes per annum facility for hot rolled (HR) coils at its Rourkela plant to make auto-grade and special steel products. Its shares fell 2.55 per cent to close at Rs 51.55 apiece on Monday.