Overnight Digest: Stocks to look out on May10
Overnight Digest: Stocks to look out on May10
The stocks that are likely to witness significant movement on the bourses on May 10 are JSW Steel, Excel Crop Care Limited, Maruti Suzuki India, Lupin and IDFC First Bank.
Glenmark Pharma reports results of Phase 3 study of Ryaltris
Glenmark Pharmaceuticals announced positive results from a Phase 3 study of Ryaltris, an investigational fixed-dose combination nasal spray for the treatment of seasonal allergic rhinitis(SAR).
Q4FY19: Satin Creditcare Network profit jumps 169 per cent
Satin Creditcare Network reported a consolidated net profit of Rs. 201 crore for FY19, registering a growth of 169 per cent YoY as against Rs. 75 crore in FY18 on a consolidated basis. The company reported revenues of Rs. 1,448 crore in FY19, up by 40 per cent YoY.
Indoco Remedies: New Baddi facility receives UK-MHRA approval
Indoco Remedies announced that it received approval from the UK-MHRA (Medicines and Healthcare Products Regulatory Agency) for its new solid dosages manufacturing facility in Baddi, Himachal Pradesh (Baddi III unit). The inspection was held from October 16 to 18, 2018.
Wipro, R3 build blockchain based solution for digital currency
Wipro announced that the company has partnered with enterprise blockchain software firm R3 and has developed a blockchain-based solution prototype to enable digital currency for inter-bank settlements for a consortium consisting of the Bank of Thailand and eight commercial banks in Thailand.
Q4FY19: Marico PAT jumps 18 per cent
Marico reported a consolidated net profit of Rs. 213 crore for the quarter ended March 2019 as against a net profit of Rs. 183 crore in the corresponding period last year.
Q4FY19: Firstsource reports net profit growth of 5.8 per cent
Firstsource Solutions' net profit stood at Rs. 98.24 crore from Rs. 92.8 crore in December 2018, up 5.8 per cent in December 2018. The company’s revenue stood at Rs. 964.2 crore as against Rs. 871.3 crore, up 10.6 per cent YoY.
Q4FY19: Morepen Labs profit jumps 125 per cent
Morepen Labs reported a steep 125 per cent rise in its net profit at Rs. 9.22 crore from Rs. 4.11 crore in YoY and a 31 per cent rise in its total revenue at Rs. 207.1 crore in the quarter ended March 2019 as against Rs. 158.34 crore.
Sagar Cements completes the acquisition of Jaipur Cements
Sagar Cements has acquired 100 per cent shareholding in Jaipur Cements (JCPL) for setting up a greenfield cement grinding unit of 1.5 million ton capacity in Jaipur at a total cost of Rs. 308.10 crore. The process of setting-up of the said unit is being set in motion and will be completed by March 2021.
Auto Sales: PV wholesales down by 17 per cent
The overall passenger vehicle (PV) sales stood at Rs. 2,45, 599 units in April 2019 as against 2,96,369 units in April 2018. Society of Indian Automobile Manufacturers (SIAM) has projected that auto sales will register single-digit growth in FY20.
Max India to explore new lines of business
Max India to explore new lines of business
Max India is set to enter businesses with adjacencies to current group businesses of life insurance, real estate, senior care and hospitality. The company is in the midst of selling 51 per cent stake in Health Insurance JV Max Bupa, to a leading private equity firm True North which is expected to be completed in the next six months.
Glenmark launches anti-diabetes drug Remogliflozin in India
Glenmark announced the launch of its patent-protected and globally-researched sodium glucose co-transporter-2 (SGLT2) inhibitor Remogliflozin etabonate in India. The drug is indicated in the treatment of type-2 diabetes mellitus in adults.