A trader watches a monitor while working on the floor of the New York Stock Exchange in New York, U.S. (Photographer: Jin Lee/Bloomberg News)

Stocks Radar: Britannia, Dr. Reddy’s Labs, Dynamatic Technologies, Mahindra CIE

Indian equity benchmarks were off to a muted start amid uncertainty over U.S.-China trade talks and Brexit. The S&P BSE Sensex and the NSE Nifty 50 Index remained flat at at 35,742 and 10,731.75, as of 10:00 a.m.

The market breadth was tilted in favour of buyers. Nine of the 11 sectoral gauges advanced, led by a 1.06 percent gain in the Nifty PSU Index. The Nifty IT Index was the top loser, down 0.36 percent.

Here Are The Stocks Moving The Market This Morning:

Dr. Reddy’s Labs Gains After Relaunch Of Drug In U.S.

Shares of the drugmaker snapped their two-day blip and rose close to 1.2 percent to Rs 2,555.10 apiece.

Dr. Reddy’s Laboratories Ltd. announced re-launching of Buprenorphine and Naloxone sublingual film in the U.S. markets, according to its exchange filing. The drugs are generic versions of Suboxone film.

The stock traded 11 percent below the Bloomberg consensus one-year target price.

Dynamatic Technologies Gains The Most In A Year After Signing Deal

Shares of the Bengaluru-based auto parts maker jumped 13.1 percent intraday, the most in a year, to Rs 1,468 per share.

Dynamatic Technologies Ltd. signed an MoU with JSC Russian Helicopters to build fabrication and ancillary parts, according to its exchange filing.

The trading volume was almost 120 times the 20-day average for this time of the day, according to Bloomberg data.

Britannia Rises After Credit Suisse Upgrade

Shares of the biscuit maker gained nearly 1.3 percent to Rs 2,959.95 per share.

Brokerage firm Credit Suisse upgraded its recommendation to ‘Outperform’ from ‘Neutral’. It also raised price target to Rs 3,400.

Here’s What The Brokerage Had To Say On The Stock:

  • Expect Britannia to gain as the government stimulus starts boosting consumption.
  • Distribution expansion focus on Hindi belt, premium biscuits will aid market share gains.
  • Britannia well-positioned to gain share within biscuits.

The stock traded at 60 percent its estimated earnings per share for the coming year, Bloomberg data showed.

Mahindra CIE Slumps After Q3 Performance

Shares of the automotive components manufacturer declined 4.4 percent to Rs 214 apiece after its results for the December-ended quarter were announced on Wednesday.

Mahindra CIE Automotive Ltd. (Q4 Calendar Year 2018 Standalone, YoY)

  • Revenue up 9.5 percent at Rs 614.9 crore.
  • Net loss at Rs 89.5 crore versus net profit at Rs 14.6 crore.
  • Ebitda up 17 percent at Rs 69.4 crore.
  • Margin at 11.3 percent versus 10.6 percent.
  • Exceptional loss of Rs 128.6 crore.

The trading volume was almost nine times the 20-day average for this time of the day, Bloomberg data showed.

Motilal Oswal Jumps The Most In Over Three Years

Shares of the asset management firm extended gains for the second day and rose as much as 8.1 percent to Rs 625.

Trading volume was almost seven times its 20-day average, Bloomberg data showed. The stock has declined 48 percent in the past 12 months compared to a 6.1 percent advance in the Sensex.

Stocks Radar: Britannia, Dr. Reddy’s Labs, Dynamatic Technologies, Mahindra CIE

Shilpa Medicare Rises After Rivals Drop Infringement Suit

Shilpa Medicare Ltd. rose 1.2 percent intraday to Rs 355 per share.

Roche Holding AG and Astellas Pharma drop a patent suit against the drugmaker's lung cancer drug. Shilpa Medicare's lung cancer treatment is a copy of Tarceva, marketed jointly by Roche and Astellas.

The companies have jointly dismissed the patent dispute on reaching an agreement in a federal court of Wilmington, Delaware, reported Bloomberg. The proposed joint consent order of dismissal, however, had no mention of a settlement.

The shares declined 24 percent in the last 12 months compared with a 6.1 percent gain in the BSE Sensex Index.