Stocks Radar: Tata Coffee, Granules India, Wockhardt And More
Shares of Opto Circuits rose 19.9% after it bagged an order from Phillips Health Care.
Indian shares advanced after making losses for four straight sessions even as traders refrain taking big bets amid rising geopolitical concerns and ahead of the December holiday season.
The S&P BSE Sensex gained 0.2 percent to 26,433 while the NSE Nifty climbed 0.2 percent as well to 8,120. The market breadth was skewed in favour of the buyers with 851 stocks advancing, 530 declining and 456 remaining unchanged.
Here are the stocks moving the markets for the day:
Tata Coffee: To Expand In Premium Space
Shares of the beverage maker rose 2.4 percent to Rs 116 on its plans to set up a Rs 350 crore freeze dried coffee plant in Vietnam.
The plant will be installed with the capacity of 5,000 metric tonne per annum, according to the company’s notification to the exchanges.The plant's production will be meant for global customers of the company, it added.
Tata Coffee has made steady progress in growing its freeze dried instant coffee business, which is now about 20 percent of our overall instant coffee portfolio.Sanjiv Sarnin, Managing Director, Tata Coffee.
The move is in line with the company's strategy to grow in the premium product space.
Opto Circuits: Hits Upper Circuit
The medical technology company jumped 19.9 percent to Rs 11 after it received an order worth Rs 91 crore from Phillips Health Care for various products.
"These long term contracts help in stregthening our relationship with Phillips Health Care" said Vinod Ramnai, Chairman and Managing Director of OCIl, in a statement to the exchanges.
Granules India: U.S. FDA Concerns
Shares in the drug maker fell 1.6 percent to Rs 113 after its joint venture facility completed U.S. FDA inspection with seven observations.
Granules OmniChem will respond to these observations within the stipulated time period, it said in a filing.
Granules OmniChem facility is a 50:50 joint venture between Granules India and Ajinimoto OmniChem N.V., located at Vizag, Andhra Pradesh and makes active pharmaceutical ingredients, which constitute the core component in a drug.
Mandhana Group Stocks: Hit Lower Circuit
Shares of both the Mandhana companies dropped, hitting the respective lower circuits after the promoter group of Mandhana Retail Ventures sold 5.34 percent stake in the company.
The stake was sold through an off market transaction on December 14, according to the company's exchange filing.
- Mandhana Industries (-10 percent to Rs 37)
- Mandhana Retail Ventures (-5 percent to Rs 204)
Wockhardt: GMP-Proof
Shares in Wockhardt gained 3.1 percent to Rs 704 after the healthcare firm said the U.K. drug regulator confirmed that its manufacturing facility at Chikalthana in Maharashtra complies with good manufacturing practices (GMP).
GMP is a system for ensuring that products are consistently produced and controlled according to quality standards.
Wockhardt said in view of the above GMP, the approval status of the Chikalthana unit continues.
IL&FS Transport Network: Ties Up With Banks
The company rose 2.1 percent to Rs 109 after its subsidiary tied up with a consortium of banks in order to carry out a Rs 188 crore order from the Gujarat government on an annuity basis.
The order includes development of eight Railway Over Bridges in the state under public-private partnership mode, the company said in an exchange filing. The project has a concession period of 17.5 years and an estimated cost of Rs 250.9 crore. The semi-annual annuity payable will be Rs 21.99 crore for a period of 15 years, the
Cipla: To Raise Funds
Shares in Cipla rose 0.9 percent to Rs 574 after the drug maker said its seeking shareholders’ approval to raise Rs 4,000 crores via issue of securities.
Cipla's board has already approved raising funds up to Rs 2,000 crore, it said in a regulatory filing. It plans to raise another Rs 2,000 crore via the issue of non-convertible debentures or bonds.
Siti Networks: Block Deal Boost
Shares of the multi-system operator rose as much as 12 percent to its highest level since January 5. Around 1.8 percent equity of the company traded hands in a block deal, according to Bloomberg data.
The volumes rose to 25 times its three-month full-day average.
Sensex, Nifty: Movers & Shakers
