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Stocks Radar: Shilpa Medicare, Divi’s Labs, Railway Stocks And More

The Nifty 50 index gained 0.2% to 7,927 while the Sensex advanced 0.3% to 25,881.



Brokers watch their screens during trading hours inside a dealing room. (Photographer: Abhijit Bhatlekar/Bloomberg News)
Brokers watch their screens during trading hours inside a dealing room. (Photographer: Abhijit Bhatlekar/Bloomberg News)

Indian shares climbed tracking a rebound in Asian equities led by drugmakers amid thin volumes as financial markets close out a volatile year.

The NSE Nifty 50 index gained 0.2 percent to 7,927 while the S&P BSE Sensex advanced 0.3 percent to 25,881.

Here are the stocks moving the markets this morning:

Shilpa Medicare

Shares of the company fell as much as 7.62 percent to Rs 641 only to recover all the losses and gain as much as 3.04 percent to Rs 715 before slipping into negative territory again.

The stock was trading lower by 1.57 percent at Rs 683, after the shareholders of the company decided to increase the limit of foreign investment to 40 percent from the initial 30 percent.

The company also allotted 30.25 lakh shares at Rs 570 each to TA FII Investors Ltd. post the resolution passed by the shareholders at their EGM on December 26.

The company also appointed TA FII Investors’ nominee Naresh Patwari as an additional non-executive and non-independent director of the company.

Divi’s Labs

Shares of the battered pharmaceutical company gained as much as 3.15 percent to Rs 786.30 in a relief rally after falling almost 35 percent in the last two trading sessions.

The stock fell to its lowest level since August 2014 after brokerage firm Emkay Global, in a report, raised concerns over five observations made by the U.S. health regulator.

The U.S. Food and Drug Administrator had inspected Unit-II of the company’s Visakhapatnam plant in Andhra Pradesh between November 29 and December 6 and issued a Form 483 to the unit with five observations, the drugmaker had said in a stock exchange filing on December 7.

Also Read: Divi’s Labs Falls To Over 2-Year Low On Concerns Raised By U.S. Health Regulator

Railway Stocks

Railway-based stocks like Kalindee Rail Nirman, Titagarh Wagons, BEML were in focus after the railways has decided for its largest outlay of Rs 1.35 lakh crore for FY18.

Stocks have seen gains between 1-2 percent post this news.

  • BEML: (up 1.82 percent to Rs 967.50)
  • Titagarh Wagons: (up 2.90 percent to Rs 122.50)
  • Kalindee Rail Nirmaan: (up 2.55 percent to Rs 112.60)

ITD Cementation

Shares of the company gained as much as 2.22 percent to Rs 147.25 after the shareholders of the company allowed it to give loans and guarantees up to Rs 2,500 crore.

The stock has gained 33.24 percent in 2016 and 33.61 percent over a one-year period.

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