Good afternoon,
Markets are trading in the red, with the NIFTY50 near 19,800 as of 1:15 pm. Here are the top stories for the day!
Top gainer: HeroMoto Corp: 3,541 ▲127 (+3.7%)
Top loser: Cipla: 1,185 ▼ 86 (-6.8%)
Cipla shares tanks on 6% on USFDA warning letter
Shares of the pharma company are down 6.8% today. This comes after Cipla received a warning letter on 18 November from the US drug regulator for its Pithampur facility in Madhya Pradesh. According to the reports, the letter pointed out data integrity issues with product compliance and microbial contamination. The USFDA has reportedly asked Cipla to take help from third-party consultants to address the issue.
Honasa Consumer rallies after strong Q2 result
Honasa Consumer, the owner of personal care brand Mamaearth, hit the upper circuit today after its September quarter consolidated net profit jumped 94% year-on-year to ₹29.40 crore. Meanwhile, its consolidated revenue grew 21% YoY to ₹496.10 crore, mainly due to a 27% jump in sales growth.
Selan Exploration hits record high on amalgamation news
Selan Exploration hits a 52-week high of ₹554 per share after its board of directors approved the amalgamation of Antelopus Energy Pvt. into Selan Exploration. After the amalgamation, promoters’ shareholding in the company would rise to 69.93% from 30.46%.
Tata Technologies IPO Day 2 subscription
So far on Day 2, Tata Technologies IPO is subscribed over 6.5 times. The IPO is receiving upbeat response from investors. The IPO will remain open for subscription till 24 November 2023. To know more and apply for the Tata Technologies IPO.