Indian stocks were trading volatile in early session on Friday, September 13 after data showed that India’s industrial production activity improved 4.3% in July, while consumer price inflation (CPI) inflation was nearly steady at 3.21% in August. Dr Reddy’s Labs, PVR, DHFL, Yes Bank and SBI were among the key stocks in news today. Read on to know more:
Dr Reddy’s Labs: Dr. Reddy’s Laboratories Ltd shares drop 1.7% after the company said it has received an establishment inspection report (EIR) from the US Food and Drugs Administration (FDA), indicating the closure of the audit of its formulations manufacturing plants at Visakhapatnam, which was completed on 21 June 2019.
PVR: PVR Ltd shares are down 1.3% as exchanges sought clarification from the company with respect to recent news captioned PVR, NY Cinemas probed for not passing on GST perks. The response from the company is awaited.
DHFL: Dewan Housing Finance Corp. Ltd shares decline 5% after the company defaulted on payment of interest and principal on non-convertible debentures (NCDs) worth Rs 197 crore.
Yes Bank: Yes Bank Ltd shares are down 5.7% again after falling over 5% in the previous session, amid reports of stake sale.
SBI: State Bank of India (SBI) shares are down 1.8% as the bank decided to offload 4.5% stake in SBI Life Insurance for about Rs 3,515 crore.
Coffee Day Enterprises: Coffee Day Enterprises Ltd shares gain even 5% as exchanges sought clarification from the company with respect to recent news item captioned ICRA Cuts Rating Of Coffee Day’s Long-Term Loans. The response from the company is awaited.
Biocon: Biocon Ltd shares inch down 0.7% after the company said it has signed a license and supply agreement with a subsidiary of China Medical System Holdings for three generic formulation products.
Future Retail: Future Retail Ltd shares slip 0.3% on news that media company Bennett Coleman and Co Ltd picked up shares worth over Rs 241 crore in the company through open market transactions.
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Source: News18