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TOP CORPORATE NEWS- 12 APR 2019

corporate news (2)

PC Jeweller stock soars post block deal
Shares of PC Jeweller soared 16% in the last hour of the trading session. Around 50 lakh shares or 1.3% equity shares worth Rs54cr trade in four blocks on NSE at Rs103-109.70/sh, as per media reports.PC Jeweller Ltd is currently trading at Rs111.50, up by Rs15.75 or 16.45% from its previous close of Rs95.75 on the BSE. The scrip opened at Rs96.15 and has touched a high and low of Rs114.80 and Rs95.65 respectively.

Lupin gains 2% on launch of Testosterone Gel
Shares of Lupin were trading 2% higher on Friday after the company launched Testosterone Gel, 1.62% (20.25 mg/1.25 g pump actuation), having received approval from the United States Food and Drug Administration (FDA).”Lupin’s Testosterone Gel, 1.62% (20.25 mg/1.25 g pump actuation), is the generic equivalent of AbbVie Inc’s AndroGel, 1.62%,” the company said in a press note to the exchanges on Friday.It is indicated for replacement therapy in males for conditions associated with a deficiency or absence of endogenous testosterone- Primary hypogonadism (congenital or acquired) and Hypogonadotropic hypogonadism (congenital or acquired).

Maruti Suzuki says ALTO K10 prices to increase across variants
Maruti Suzuki said in the press note on Thursday that it has hiked the price of its Alto K10 model across India following its upgrade with safety features in compliance with the “AIS-145 Safety Norms”.The price revision will be effective from April 11, 2019.”Alto K10 is now compliant with AIS-145 Safety Norms. This will result in a price increase in all variants of Alto K10 models. Depending on features introduced across variants, the ex-showroom price in Delhi and NCR region will vary from Rs3,65,843 to Rs4,44,777.”

Sun Pharma executive, wife settle insider trading case with Sebi
Sun Pharma group senior executive, Abhay Arvind Gandhi, and his wife Kiran have settled with Securities and Exchange Board of India (SEBI) a case related to insider trading in shares of Ranbaxy Laboratories in 2014, a PTI report said.As per the report, both have paid a total of ~Rs70 lakh as settlement charges. Gandhi and Kiran traded in 454 shares and 6,770 shares, respectively, during the Unpublished Price Sensitive Information (UPSI) period.

SpiceJet to induct 16 Boeing 737-800 aircrafts
Shares of SpiceJet jumped in the morning trade on the BSE as the aviation company will induct 16 Boeing 737-800 NG aircrafts on dry lease and has applied to the Directorate General of Civil Aviation (DGCA) for a No Objection Certificate (NOC) to import the aircraft.The new inductions will not just bring down flight cancellations to nil but also help in SpiceJet aggressive international and domestic expansion plans.
Subject to regulatory approvals, the aircraft would begin joining SpiceJet fleet in the next ten days.

Lemon Tree gains after brokerage upgrade
Shares of Lemon Tree Hotels were trading higher on Friday trade after global firm CLSA maintained a buy rating on the stock.According to the media reports, the global brokerage firm CLSA has maintained a buy rating on the stock in a recent report, saying Key acquisition, new management contract opportunities to help gain scale.The brokerage firm has given a price target of Rs89 per share. It said the company is gaining scale with the recently announced intention to acquire Keys hotels, which will add 26% to owned room count and 55% to managed room count, the report added.

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