Stocks In News: Bandhan Bank, Cipla, Sanofi India, UPL
Here are the stocks moving the markets today.
Indian equities opened lower, extending declines for the fourth consecutive trading session.
The S&P BSE Sensex fell as much as 0.98 percent or 393 points to 39,888 and the NSE Nifty 50 fell as much as 1 percent to 11,679. The broader markets, represented by the NSE Nifty 500 Index, fell as much as 0.88 percent.
The market breadth was tilted in favour of sellers. About 1,044 stocks declined and 429 shares advanced on the National Stock Exchange.
All the sectoral gauges compiled by NSE traded lower, led by the NSE Nifty Auto Index’s 0.9 percent fall.
Here Are The Stocks Moving The Markets Today
Cipla Falls Nearly 5% After FDA Issues Warning Letter
Shares of Cipla Ltd. extended declines for the fourth consecutive trading session. The stock fell as much as 4.7 percent, the most since October 2019, to Rs 405.80.
The drugmaker received a warning letter from the U.S. FDA after an inspection of facilities in Goa between Sept. 16-27. “The company remains committed to maintain the highest standard of compliance and will work closely with the agency to comprehensively address all observations,” Cipla said.
Trading volume was almost seven times its 20-day average, Bloomberg data showed. The Relative Strength Index was below 30, indicating that the stock may be oversold
Sanofi India Jumps 8% To Record High After Q4 Results
Shares of Sanofi India Ltd. rose as much as 8.8 percent, the most since November 2017, to hit an all-time high at Rs 7,640 after announcing December quarter results.
Key Earnings Highlights (Q4CY, 2019)
- Revenue rose 14 percent to Rs 826 crore.
- Net profit rose 23 percent to Rs 97 crore.
- Ebitda rose 30 percent to Rs 177.5 crore.
- Margin stood at 21.5 percent versus 18.9 percent.
Bandhan Bank Gains After RBI Lifts Restrictions On Opening New Branches
Shares of Bandhan Bank rose as much as 4.7 percent to Rs 423.
The lender said that the country’s central bank has lifted the restriction on branch opening. “The bank plans to open 250 branches by March,” Bandhan Bank’s Managing Director and Chief Executive Officer CS Ghosh told BloombergQuint in an interaction.
Trading volume was six times its 20-day average, Bloomberg data showed. Of the shares traded, 41 percent were at the ask price and 38 percent were at the bid.
UPL Falls After Large Trade
Shares of UPL Ltd. extended declines for the fourth consecutive trading session. The stock fell as much as 1.8 percent to Rs 556.
About 12.4 lakh shares of the company changed hands in a large trade, Bloomberg data showed. Buyers and sellers were not known immediately.
The scrip declined 4.6 percent in the past five days and rose 2.8 percent in the past 30 days, according to Bloomberg data.