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Home > Stock Market > Stocks in Focus on September 18: Dr Reddy’s, Cipla, Lupin, Happiest Minds Technologies to HDFC Bank; here are expected newsmakers of the day

Stocks in Focus on September 18: Dr Reddy’s, Cipla, Lupin, Happiest Minds Technologies to HDFC Bank; here are expected newsmakers of the day

Stocks in Focus on September 18: Benchmark domestic stocks on Thursday, September 17, 2020, lost around 0.8 per cent snapping two day’s winning rally amid negative global cues. S&P BSE Sensex dropped 323 points, or 0.82 per cent, to 38,979. The NSE Nifty 50 fell 85.30 points, or 0.75 per cent, to 11,519.25. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Friday, September 18, 2020. List of such five stocks:

Triggers: Certain events, like FTSE rebalancing, RITES Buyback and AGM, can create positive/ negative reaction in the share market when it opens today. Find them in detail:

FTSE rebalancing: The changes in FTSE rebalancing will be effective from closing today. FTSE announces changes to FTSE all-world Index. India is likely to witness net buying worth $ 140 crore after the rebalancing takes place. 
RITES Ltd: The Board of Directors of the Company is scheduled to meet today to consider and approve the proposal for Buy-Back of the fully paid-up equity shares of the Company.

AGM: Annual General Meeting of companies, like Emami Ltd, Fine Organic Industries Ltd, Gulf Oil Lubricants India Ltd, HeidelbergCement India Ltd, Linde India Ltd, Mangalore Refinery and Petrochemicals Ltd, Shipping Corporation of India Ltd, Tamil Nadu Newsprint & Papers Ltd, Zee Entertainment Enterprises Ltd, Praj Industries Ltd and National Plastic Industries ltd, are scheduled to be held today.

See Zee Business Live TV streaming below:

Dr Reddy’s/ Cipla/ Lupin:

Dr Reddy’s: It has announced the settlement of litigation with Celgene, relating to Revlimid capsules. Celgene has agreed to provide DRL with the license to sell the volume-limited amount of the capsule in the US starting March 2022. The company is also allowed to sell the capsule without volume limitation, starting January 31, 2026.
Lupin/ Cipla: Ireland’s pharmaceutical company Perrigo has announced a voluntary recall of albuterol sulfate inhalation aerosol. The action was taken as there were complaints that some units may not dispense due to clogging. The action of Perrigo will have an indirect impact on Lupin and Cipla as it is likely to increase sales of the same drug manufactured by these companies.

EIH: The rights issue committee of the company has fixed September 23, 2020, as the record date for the Rights Issue or Rs 350 crore. The issue price has been fixed at Rs 65 per share. Shareholders will get 8 equity shares for every 85 equity shares held by eligible equity shareholders of the Company as on the record date.

Happiest Minds Technologies: Plutus Wealth Management buys 10 lakh shares at Rs 350 per share of the company. 

HDFC Bank: Two US-based law firms, Rosen Law Firm and Schall Law Firm have filed class-action suits against HDFC Bank alleging misleading public statements and for failing to inform investors about the bank’s improper internal controls on vehicle loans. They have filed suits against outgoing managing director Aditya Puri and new MD among others. 

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