Stocks Radar: Aurobindo Pharma, Shriram EPC, Technofab
Indian shares climbed higher following a rebound in Asian equities.
Indian shares climbed higher following a rebound in Asian equities led by banks and software companies.
Here are the stocks moving the market this morning:
Aurobindo Pharma
The drugmaker rose 2.1 percent to Rs 683 after it said that the European Medical Agency's order regarding suspension of around 300 drugs, will cost it up to $5 million per annum.
Aurobindo Pharma has five products “with different strengths” in select countries of the European Union which are affected by the decision, the drugmaker said in a stock exchange filing. Some of these five medicines are yet to receive approval from necessary authorities, the filing added.
Shriram EPC: Bags 25% Of A Project
The company jumped 9.7 percent to Rs 31 after it was partly awarded a Rs 701.5 crore overseas project by Tanzania's Ministry of Water and Irrigation.
Shriram EPC will carry out the project in a joint venture with Larsen & Toubro and receive 25 percent of the share, according to the company's notification to the exchanges.
Larsen & Toubro’s shares rose 0.7 percent to Rs 1,555 on Tuesday morning.
Technofab Engineering: Contacts Boost Shares
The engineering and construction company jumped as much as 8.1 percent to Rs 202 after it received three contracts worth Rs 255 crore from Power Grid Corporation of India.
All three orders are related to rural electrfication and are expected to be completed within 33 months.
The company also grabbed a Rs 80 crore ($12.3 million) order from Rawanda's agricultural ministry for establishment of a 'Centre of Excellence in Farm Mechanisation'.
IL&FS Transportation Networks: Building Roads
Shares of the company rose 2.3 percent to Rs 107 after it bagged a Rs 175.5 crore contract from the Madhya Pradesh Road Development Corporation through its joint venture with IL&FS Engineering.
The project includes widening and reconstruction of roads and is expected to be completed within 20 months.
Bulk Deals: Emami, Godrej, KPIT Tech
- Emami: The Kolkata-based company rose 1 percent to Rs 1,024 after its Promoter and Group Director, Priti Sureka, sold 14 lakh equity shares for Rs 1,030 per share. The shares sold account for 0.6 percent of the entire stake, according information available on the exchanges.
- KPIT Technologies: The company rose 2.7 percent to Rs 133 after Proficient Finstock LLP, promoter of the company, bought an additional 2.22 percent stake in it. With this move, the promotor's holding has risen to 18.94 percent of the total stake.
- Godrej Industries: The company rose 1.3 percent to Rs 510 after it bought an additional 2.87 percent stake in its animal-feed producing subsidiary, Godrej Agrovet. Godrej now holds 63.68 percent of the company.
Sensex, Nifty: Movers & Shakers
