These stocks are likely to be in focus on June 28
At market close on Monday, the core equity indices ended higher owing to positive global cues.
The Sensex was at 53,161.28, up by 433.30 points or 0.82% and the Nifty 50 closed at 15,832.05, up by 132.80 points or 0.85%.
The top trending stocks on the BSE were Zomato, Sun Pharmaceuticals, Birlasoft, HDFC Asset Management Company, Carborundum Universal, Hikal, and KEC International.
These stocks are likely to be in focus for Tuesday's trading session.
Dr Reddy’s Laboratories Limited: Dr Reddy’s Labs has announced that it has acquired a portfolio of branded and generic injectable products from US-based Eton Pharmaceuticals, Inc. The portfolio includes the Biorphen (phenylephrine hydrocholoride) injection and Rezipres (ephedrine hydrochloride) injection NDAs with nine separate combinations of strengths and presentations and one first-to-file approved ANDA for Cysteine Hydrochloride for the U.S. The acquisition will complement Dr Reddy's U.S. institutional business with limited competition in injectable products. Under the terms of the agreement, Dr Reddy's acquired the Eton portfolio for an upfront payment of approximately $5 million in cash, plus contingent payments of up to $45 million. The shares of the pharma company are higher by 0.19 %, on the BSE.
Adani Enterprises Limited: Kutch Copper Limited (KCL), a subsidiary of Adani Enterprises NSE 0.85%, on Sunday said that it has secured debt of Rs 6,071 crore to set up a copper refinery at Mundra, Gujarat. The funds will go towards setting up a copper refining capacity of 0.5 million tonnes per annum (MTPA) as part of phase 1 of the greenfield plant. The total planned capacity is 1 MTPA in two phases. The shares of the company ended 0.92% higher, on the BSE.
Zomato Limited: The shares of Zomato, tumbled over 5% after the company confirmed the Rs 4,447 crore all-stock deal to buy Blinkit, a quick-commerce marketplace delivering grocery and other essentials. This acquisition will increase Zomato’s order density which in turn will lead to lower cost per delivery and will be the key driver for synergies. However, the path to profitability for Zomato may get extended by at least a year as per analysis; views. On the other hand, Blinkit reported 79 lakh orders for May, which were nearly 16% of Zomato’s Q4FY22 run rate. The shares of the food delivery giant ended 6.4% lower on the BSE.
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