Stocks Radar: HCC, Quess Corp, Tata Power And More
Tata Power rose 1.3 percent on its second quarter earnings.
Indian shares extended gains for a fourth day, tracking positive global market setup, with an advance in automakers offsetting losses select metal stocks.
Here are the stocks in focus for the day:
Hindustan Construction Company
Shares of the construction company rose 2.5 percent to Rs 34 after it said that it will hold a meeting on December 2 to consider equity, debt issuance under new debt recast scheme.
The board will consider an issue of 24.44 percent of the expanded capital and also optionally convertible debentures on a preferential basis, the company said in a notification to the exchanges.
Lupin
Shares of the drug maker rose 1.9 percent to Rs 1,547 after it announced that its U.S. subsidiary, Lupin Pharmaceuticals Inc., has received the final approval for marketing of Armodafinil tablets (50 mg, 150 mg, 200 mg and 250 mg) from the United States Food and Drug Administration.
The drug, a generic version of Cephalon Inc's Nuvigil tablets, is indicated to induce wakefulness in adult patients diagnosed with excessive sleep associated disorders.
The non-generic version of the drug earned $515.6 million during 12 months till September 2016, the company said, citing IMS data, in statement to the exchanges.
Vivimed Labs
Shares of pharmaceutical laboratories company rose as much as 17 percent to Rs 108 after the United States Food and Drug Administration completed its inspection in Vivimed's FDF manufacturing facility in Alathur, near Chennai.
For the India plant, this was the specific inspection and we are delighted by the outcome as this is reflection of the efforts of our team to constantly maintain high levels of regulatory compliance.Santosh Varalwar, managing director, Vivimed Labs
Quess Corp
Shares of the HR services provider fell as much as 2.2 percent to Rs 663, after it announced the acquisition of the facility management and catering business of Manipal Integrated Services.
Quess Corp will invest Rs 220 crore in Manipal Integrated Services through compulsory convertible preference shares. Once the investments used for the development of the catering and facility management business, the segments will be merged into Quess Corp.
Earnings Reaction
- Tata Powers (+1.4 percent to Rs 73)
- National Fertilizers (+3.5 percent to Rs 33)
Earnings Watch
- GVK Power & Infrastructure (+1.7 percent to Rs 6)
- Punj Lloyd (+2.2 percent to Rs 20)