Benchmark indices shed their early gains with modest loses to end marginally lower Tuesday, August 20. The day witnessed volatile trading with Nifty closing below 11,050 level. The Sensex closed 74.48 points down at 37,328.01, while Nifty ended at 11,017, down 36.90 points.
Though the markets ended in red, some stocks came into news after the market closed for trading on Tuesday and these stocks can play an important role as markets open for trading on Wednesday, August 21.
Here are seven key stocks to watch today:
United Spirits: On Tuesday, Diageo group owned entity Relay BV purchased 33.1 lakh shares of United Spirits Ltd. paying Rs 591.95 for each share. The total value of the transaction was Rs 195.96 crore.
Alembic Pharma: The company’s Bioequivalence Facility at Vadodara, on Tuesday, received a clean cheat from the US Food and Drug Administration (USFDA) following inspections between August 12-16, 2019, and August 12-20, 2019 for Bioequivalence Bioanalytical and Bioequivalence Clinical respectively.
Dr Reddy’s: The USFDA has issued a Form 483 with 8 observations to Dr Reddy’s laboratories after inspecting its Duvvada facility in Andhra Pradesh. The audit of the company’s formulations manufacturing plant, at Duvvada, called Vizag SEZ Plant 1, was completed on Tuesday.
NMDC: On Tuesday, the state-owned company, NMDC, said that the Karnataka government has withdrawn the approval given to the firm to extend mining lease for the Donimalai iron ore mine. It further said that it has filed a revision application against the Karnataka government’s order with Government of India’s Ministry of Mines. The hearing is scheduled for Wednesday, August 21.
IOL Chemicals & Pharmaceuticals Ltd: On Tuesday, the company said it has made the pre-payment of a term loan of Rs 9.52 crores which were due to banks and had made a schedule repayment as well. It made the pre-payment of a term loan of an aggregate Rs 107.70 crore till date to reduce the Term Debt which remains at Rs 123.45 crore as on date.
Sun Pharma Advanced Research Company: US based Abraxis Biosciences LLC filed a plea against the company, alleging that the company’s filing of New Drug Application for a Taclantis injection is act of infringement of the Orange Book listed patents for Abraxane. Sun Pharma believes the lawsuit does not hold merit and will defend the allegations.
State Bank of India (SBI): On Tuesday, the State Bank of India (SBI) announced special offers across loan products ahead of the festive season. The bank has launched products offering cheaper rates for home and auto loan borrowers. It also has waived off the processing fees for auto loans, pre-approved digital loans and loans with no escalation in interest rates for consumers.
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