Good afternoon,
Markets are trading flat, with the NIFTY50 near 19,800 as of 1:00 pm. Here are the top stories for the day!
Top gainer: Cipla: 1,203 ▲33 (+2.8%)
Top loser: HCL Tech: 1,312 ▼ 16 (-1.2%)
Gland Pharma surges on USFDA inspection closure
Shares of the pharma company are up 4.9% in the early trade. This comes after it received an Established Inspection Report from USFDA for its Hyderabad plant. This indicates closure of inspection.
LIC surges on new products launch
Shares of India’s largest life insurance player are up 7% today. The management aims to launch three to four new products in coming months. New products to include features like guaranteed returns, loan facility and premature withdrawal.
Mamaearth continues to rally
Shares of Honasa Consumer – the owner of beauty brand Mamaearth – are up 5.4% in the early trade. The stock has risen 34% this week. Additionally, the company’s brand Dr. Sheth has achieved the milestone of becoming the fourth brand to surpass ₹150 crore in annual recurring revenue.
Day 3: Tata Technologies IPO subscribed 19 times
On the final day, the IPO was subscribed 18.9 times as of 11:15 am. The retail portion has been subscribed 12.9 times. The IPO is also receiving strong interest from non-institutional investors with this segment being subscribed 40.5 times.