Top gainer: Power Grid 271 ▲ 8.1 (+3.10%)
Top loser: Trent 4,796 ▼ 203 (-4.07%)
Shares of IndusInd Bank fell as much as 5.38% to hit a fresh 52-week low of ₹886.40 on the BSE
Shares of the private sector lender IndusInd Bank fell as much as 5.38% to hit a fresh 52-week low of ₹886.40 on the BSE after the Reserve Bank of India (RBI) granted only a one-year extension to Sumant Kathpalia, managing director (MD) and chief executive officer (CEO) of IndusInd Bank, despite the bank’s board requesting a three-year reappointment, according to news reports. The bank, in a stock exchange filing post-market hours on Friday, said, “The Reserve Bank of India, via its letter dated March 6, 2025, has conveyed its approval for the re-appointment of Sumant Kathpalia as MD & CEO of the bank for a further period of one year with effect from March 24, 2025, till March 23, 2026.”
Shares of drug manufacturer Lupin surged over 2.5% on Monday
Shares of drug manufacturer Lupin surged over 2.5% on Monday, March 10, after the company got final nod from the US FDA to launch Rivaroxaban tablets USP in the US market. In an exchange filing dated March 7, Lupin informed that Rivaroxaban Tablets USP, 2.5 mg, had estimated annual sales of $446 million in the US. The drug is a bioequivalent to Xarelto Tablets, 2.5 mg of Janssen Pharmaceuticals, Inc. It is used to reduce the risk of major cardiovascular events in patients with coronary artery disease (CAD) and the risk of major thrombotic vascular events in patients with peripheral artery disease (PAD), including patients after recent lower extremity revascularisation due to symptomatic PAD.
Shares of Gensol Engineering fell as much as 4.38% to ₹308 apiece on the NSE on Monday
Shares of Gensol Engineering fell as much as 4.38% to ₹308 apiece on the NSE on Monday, March 10, after a series of developments at the company last week. The stock, which has been reeling under pressure after credit rating downgrades by CARE and ICRA, announced on Friday, March 7, that the company’s promoters have sold approximately 2.37% of total equity shares of the company, amounting to 9,00,000 shares, to unlock liquidity that will be reinvested into the business through equity infusion. This step is part of a strategy aimed at reinforcing the company’s balance sheet and supporting stability, it said.