These stocks are likely to be in focus on June 21
These stocks are likely to be in focus for Tuesday's trading session.
At market close on Monday, the core equity indices ended higher owing to positive global cues. The Sensex was at 51,597.84, up by 237.42 points or 0.46% and the Nifty 50 closed at 15,350.15, up by 56.65 points or 0.37%.
The top trending stocks on the BSE were Birlasoft, Tata Steel, Vedanta, Cipla, ITI, Heidelberg Cement India, and Bank of India.
These stocks are likely to be in focus for Tuesday's trading session -
Vedanta Limited: Shares of Vedanta plunged more than 12% during Monday's trading session after the company put up its Tuticorin copper plant for sale. The mining major has invited an expression of interest (EoI) for the Tuticorin-based smelter, following an order from the Tamil Nadu government. The plant has been closed for more than four years. The bids have been called in conjunction with Axis Capital and the last day to submit EoI is July 4. Vedanta has pegged the plant's capacity at 4 lakh tonnes a year in the advertisement issued by the company. The shares of Vedanta ended lower by 12.67%, on the BSE.
Aurobindo Pharma Limited: Aurobindo Pharma has announced that its board has approved the acquisition of a 51% stake in Hyderabad-based GLS Pharma for a cash consideration of Rs 28.05 crore. GLS Pharma is a pharmaceutical company engaged in the business of oncology products which include orals and injectables used in chemotherapy for solid malignancies, chemotherapy for hematological malignancies and chemo-supportive products.
Aurobindo Pharma said that the investment is undertaken to expand the foothold of the company in the oncology business in the domestic market and for inorganic addition to capacity and revenues in oncology business. The shares of Aurobindo Pharma ended 1.13% lower on the BSE.
Cipla Limited: Pharma major Cipla has announced that it will acquire a 21.05% stake for Rs 25 crore in Achira Labs Pvt Ltd, which is engaged in the development and commercialisation of point of care (PoC) medical test kits in India. The company has signed definitive agreements with Achira Labs for the purpose, Cipla said in a regulatory filing. A PoC that enables rapid identification of the bug causing an infection would be extremely helpful in choosing the appropriate antibiotic early in the treatment process. The shares of Cipla ended 1.14% higher on the BSE.
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