Stocks

Companies and stocks to track today: Sept 8, 2020

K S BADRI NARAYANAN | Updated on September 07, 2020

Scrips likely to see action

Bharat Dynamics offer-for-sale today

The Centre plans to sell up to 10 per cent stake or 1.83 crore shares of Bharat Dynamics Ltd through an offer-for-sale. The floor price for the offer has been set at Rs 330 a share.

The OFS will open for non-retail investors on Tuesday, and for retail investors on Wednesday, the company informed exchanges today.

As the floor price is at a discount of 14 per cent from Monday's closing price of Rs 384.45, the stock of Bharat Dynamics may fall sharply on Tuesday.

The Government has also retained the option of selling an additional 5 per cent stake in case the oversubscription option is exercised. Currently, the Government owns 87.75 per cent stake in the company.

QIP to keep Amber Enterprises in focus

Shares of Amber Enterprises will remain in focus, as the company approved the floor price for its qualified institutional placement, which opened for subscription on Monday, as Rs 1,798.72 a share.

According to market talk, the company is likely to raise about Rs 400 crore.

The stock on Monday closed 0.17 per cent lower at Rs 1,837.75.

Dr Reddy's may shine on drug launch

Dr. Reddy's Laboratories along with its subsidiaries on Monday launched Fulvestrant Injection, 250 mg/5 mL (50 mg/mL) per Single-dose Syringe, approved by the US Food and Drug Administration.

The drug is a therapeutic equivalent generic version of Faslodex (fulvestrant) that had US sales of approximately $407 million MAT for the most recent twelve months ending in June 2020 according to IQVIA Health.

It is used in the treatment of breast cancer.

Dr. Reddy's Fulvestrant Injection, 250 mg/5 mL (50 mg/mL) per Single-dose Syringe is available in a carton containing two 5 mL single-dose prefilled syringes.

Key results: CESC, Spencers, Future Consumer,

About 40 companies will declare their quarterly results on Tuesday. Among them include Bal Pharma, CESC, Dishman Carbogen Amcis, Future Consumer, IL&FS Investment Managers, Jindal Stainless, Lime Chem, Mafatlal Industries, Simplex Projects, SML Isuzu, Spencers Retail, Texmaxo Rail & Engineering and Zen Laboratories.

Published on September 08, 2020

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