Stocks

Stocks in focus: Equitas Holdings, Strides Shasun, KPIT Technologies

| Updated on January 17, 2018 Published on July 01, 2016

equitas

Shares of Equitas Holdings hit a record high as the company has got final RBI nod for a small finance bank.

Financial services company Equitas Holdings Ltd's shares rise as much as 7.9 per cent to a record high of Rs 191.70.

At the closing trade, the stock was up 3.6 per cent at Rs 183.95 on the BSE.

The company says it has got final RBI approval for the launch of a small finance bank.

SFBs are aimed at helping small businesses and farmers get easier access to funding.

Equitas Holdings shares have posted their biggest intraday percentage gain in nearly one month.

Strides Shasun

Shares of Strides Shasun ended with over 4 per cent gains today after the US health regulator completed a successful inspection of the company’s oral dosage facility at Bengaluru without any adverse observations.

After surging 6.77 per cent to Rs 1,205 on BSE during the day, the stock finally ended at Rs 1,176.50, up 4.25 per cent.

On the NSE, shares of the company rose 4.27 per cent to close at Rs 1,177.10.

According to the company, US health regulator has found no adverse observations during its inspection of its oral dosage facility in Bengaluru.

The audit carried out by the US FDA was related to the company's product filed from the new semi solids block.

The stock has posted its biggest intraday percentage gain in over one month.

KPIT Technologies

KPIT Technologies slumped to near 2-month low on weak Q1 revenue forecast.

The software company shares slumped as much as 14.60 per cent to its lowest since May 9.

The stock ended the session down by 14.36 per cent at Rs 157.50 on the BSE.

According to the company, revenues from ERP (enterprise resource planning) implementations have been affected beyond expectations, due to internal and external changes.

The company sees Q1 revenue to drop 4 per cent, with a consequent drop in profit.

It expects Q2 revenue and profit to be flat compared with Q1 levels.

The stock heads for biggest single-day percentage fall since April 30, 2015.

Over 2.4 million shares traded, about 2.3 times their 30-day moving average.

The stock was up 9.09 per cent this year as of Thursday's close.

Published on July 01, 2016
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