Benchmark indices ended lower for the second consecutive session on December 20 on rising concern over the Omicron variant of the coronavirus. At close, the Sensex was down 1,189.73 points, or 2.09%, at 55,822.01, and the Nifty was down 371 points, or 2.18%, at 16,614.20.
Cipla | CMP: Rs 892.75 | The share price gained nearly 4 percent on December 20 after the company and its subsidiary Cipla USA, Inc received the final approval for the Lanreotide injection from the United States Food and Drug Administration (USFDA). The FDA approval was based on a New Drug Application (NDA) submitted under the 505(b)(2) filing pathway.
Future group stocks | All the Future group stocks gained 20 percent after the Competition Commission of India (CCI) on December 17 suspended its approval for Amazon’s 2019 deal with Future Coupons and imposed a Rs 202-crore penalty on the American e-commerce giant.
Axis Bank | CMP: Rs 674.80 | The share price fell 2 percent. The bank proposes to raise funds by issuing senior unsecured taxable redeemable non- convertible debentures of Rs 10 lakh each for cash at par with the base issue size of Rs 2,000 crore and green-shoe option to retain over-subscription of Rs 3,000 crore, thereby aggregating up to Rs 5,000 crore.
Eicher Motors | CMP: Rs 2,406 | The share price slipped over 2 percent after Royal Enfield decided to recall 26,399 units of its most popular motorcycle Classic 350, according to the Economic Times. In a statement sent to the Society of Indian Automobile Manufacturer’s Association, the company cited a potential brake issue and said the recall was a precautionary measure. The issue pertains to a J1A motorcycle produced between September 1 and December 5.
Indiabulls Real Estate | CMP: Rs 147.55 | The share price declined 6 percent as the company is to consider raising funds through an issue of equity shares and/or any other convertible or exchangeable securities on December 22.
Technocraft Industries | CMP: Rs 753 | The share price fell 6 percent on the company’s plan to sell 100% shareholding in Technocraft Australia Pty Ltd (TAPL) to SSS Group Holdings Pty Ltd, a scaffolding and edge protection services company of Australia. The company is also entering into a five-year exclusive distribution agreement with SSS for the sale of scaffolding and formwork products to SSS in the Australian market.
Pennar Industries | CMP: Rs 30.20 | The share price gained nearly a percent on December 20 after the company said it bagged orders worth Rs 582 crore across its various business verticals.
RBL Bank | CMP: Rs 167.70 | The share price declined 6 percent despite the private bank being authorised by the Reserve Bank of India to collect indirect taxes on behalf of the Central Board of Indirect Taxes and Customs (CBIC).
Ircon International | CMP: Rs 44.45 | The company share price fell 1 percent even after it emerged as the lowest bidder for a project floated by the National Highways Authority of India. The company entered into a share subscription and shareholders’ agreement with Ayana Renewable Power for setting up a 500-MW solar power plant through a joint venture company which will be incorporated by IRCON and Ayana.
IRB Infrastructure Developers | CMP: Rs 208.60 | The company share price rose 2 percent after it emerged as the selected bidder for the development of access-controlled six-lane greenfield Ganga Expressway in Uttar Pradesh on DBFOT (Toll) basis under PPP and received a letter of award from Uttar Pradesh Expressways Industrial Development Authority.