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Stocks In News Today: Coffee Day, Glenmark, HUL, RIL, Sun Pharma

Here’s a look at the stocks in news moving the markets today.

Financial traders monitor data on computer screens on the trading floor inside the Amsterdam Stock Exchange, operated by Euronext NV, in Amsterdam, Netherlands. (Photographer: Jasper Juinen/Bloomberg)
Financial traders monitor data on computer screens on the trading floor inside the Amsterdam Stock Exchange, operated by Euronext NV, in Amsterdam, Netherlands. (Photographer: Jasper Juinen/Bloomberg)

Indian equity benchmarks erased opening gains that propelled the indices to record highs.

At 10:52 am, the S&P BSE Sensex and NSE Nifty 50 traded little changed at 41,007.29 and 12,084.10, respectively. The broader markets represented by the NSE Nifty 500 Index, too, traded flat. Tech Mahindra Ltd. was the top gainer on the Nifty 50 while Adani Ports and Special Economic Zone Ltd. was the top loser.

Here’s a look at the stocks in news moving the markets today.

Sun Pharma Falls After Halol Plant Gets U.S. FDA Form 483 Observations

Shares of Sun Pharmaceutical Industries Ltd. declined the most since Nov. 11, 2019, falling as much as 2.93 percent to Rs 426.40 apiece.

The drugmaker received eight Form 483 observations by the U.S. Food and Drug Administration for its Halol plant in Gujarat, according to an exchange filing. The U.S. FDA inspected the facility for good manufacturing practices, or GMP, between Dec. 3 and Dec. 13, 2019.

Sun Pharma shares are up 1.3 percent in the past five days and rose 4.3 percent in the past 30 days, Bloomberg data shows. The stock has advanced 4.4 percent in the past 30 days, according to the data.

RIL Swings After Reliance Jio’s Tower Deal With Brookfield

Shares of Reliance Industries Ltd. snapped their three-day winning streak and fluctuated between gains and losses.

Reliance Industrial Investments and Holdings Ltd. has signed binding agreements with Brookfield Infrastructure and its instutional partners for an investment of Rs 25,220 crore in the units to be issued by Tower Infrastructure Trust, according to an exchange filing on Monday.

At the closing of transaction, the Tower Infrastructure Trust will own 100 percent of Reliance Jio lnfratel Pvt. Ltd. Jio is an anchor tenant of the tower portfolio under a 30-year Master Services Agreement.

RIL shares are up 0.7 percent in the past five days and rose 7.7 percent in the past 30 days, Bloomberg data shows. The stock has advanced 42 percent in the past 52 weeks, according to the data.

Glenmark Rises To Highest In More Than Two Weeks

Shares of Glenmark Pharmaceuticals Ltd. rose as much as 3.06 percent to Rs 350.00 apiece—the highest since Nov. 28, 2019.

The drugmaker’s Baddi manufacturing plant in Himachal Pradesh has received a certificate of compliance with good manufacturing practices from Czech regulator State Institute of Drug Control, or SUKL, according to an exchange filing Monday.

Glenmark shares are up 5.4 percent in the past five days and rose 15 percent in the past 30 days, Bloomberg data shows. The stock has declined 48 percent in the past 52 weeks, according to the data.

Coffee Day Gains As Yes Bank Said To Clear Sale Of Tech Park To Blackstone

Shares of Coffee Day Enterprises Ltd. advanced the most since Dec. 6, 2019, rising as much as 4.90 percent to Rs 42.80 apiece.

Private lender Yes Bank Ltd. has decided to clear the sale of Coffee Day’s technology park to Blackstone Group, Business Standard reported, citing people it didn’t identify. Yes Bank conveyed the decision verbally while a formal letter of approval expected in the 2-3 days, the report said.

On Dec. 9, Bloomberg reported that the lender hadn’t issued a so-called no objection certificate as it’s seeking assurances on repayments of other loans taken by the operator of Cafe Coffee Day restaurants.

Coffee Day shares are down 3 percent in the past five days and fell 6.9 percent in the past 30 days, Bloomberg data shows. The stock has declined 84 percent in the past 52 weeks, according to the data.

HUL Shares Slump As Glaxo Said To Weigh Stake Sale In Early 2020

Shares of Hindustan Unilever Ltd. fell as much as 1.30 percent to Rs 1980.10 apiece—the lowest since Oct. 11, 2019.

GlaxoSmithKline Plc is considering to sell its stake in HUL, early in the new year, The Economic Times reported, citing unidentified people with knowledge of the matter.

GSK’s near 6 percent stake, based on Friday close of Rs2,005.90 per share, could be valued at $3.7 billion, which would make it one of the largest stake sale deals in India.

Trading volume in the HUL stock was 38 percent above the 20-day average for this time of the day, Bloomberg data shows.