Stocks in Focus: Caplin Point, Welspun Enterprises, and Others
The GIFT Nifty futures, which is an early indicator of the Nifty50 index stocks, was trading higher by 56 points at 26,033, indicating that the domestic benchmark indices are likely to make a positive start on Friday.
Earlier on Thursday, 23 October, the Domestic benchmark indices S&P BSE Sensex gained by 130 points or 0.15%, and settled at 84,556, while the Nifty50 traded 0.09% higher or 22.8 points, closing at 25,891.
Here are some stocks that are likely to remain in focus on 24 October.
Caplin Point: Caplin Steriles, a subsidiary of Caplin Point Laboratories, received final approval from the US Food and Drug Administration (USFDA) for its generic nicardipine hydrochloride injection. The drug will be available in 20 mg/200 mL and 40 mg/200 mL single-dose infusion bags. It is the generic equivalent of Hikma International’s product, used to control high blood pressure during surgical procedures.
Welspun Enterprises: The Tamil Nadu GST Appellate Authority upheld a Rs 9 crore tax demand and an equal penalty against Welspun Enterprises for FY2018–19. The authority stated that the company wrongfully claimed ineligible input tax credits, violating Section 16 of the CGST and TNGST Acts.
Kaynes Technology: Kaynes Holding (Kaynes Singapore), a subsidiary of Kaynes Technology India, signed a Share Purchase Agreement with Frauscher Sensor Technology Group GmbH to acquire an additional 7% stake in Sensonic GmbH. This acquisition increases Kaynes Singapore’s total holding in Sensonic GmbH to 61%.
Premier Energies: Premier Energies announced its plan to acquire a 51% stake in KSolare Energy Pvt Ltd for approximately Rs 86.7 crore, making KSolare its subsidiary. Syrma SGS Technologies Ltd will acquire the remaining 49% stake for about Rs 83.3 crore.
Hero MotoCorp: After expanding into Italy and Spain, Hero MotoCorp partnered with MotoGB to introduce its premium motorcycles in the United Kingdom. The company plans to launch its advanced Euro 5+ lineup, including the much-anticipated Hunk 440 model.
NTPC Green Energy: NTPC Green Energy announced the commencement of commercial operations for 9.9 MW of wind power capacity in Bhuj, Gujarat. The project forms part of a 92.4 MW wind power development by Ayana Renewable Power Four, a subsidiary of Ayana Renewable Power. Ayana Renewable Power is fully owned by ONGC NTPC Green, a joint venture between ONGC and NTPC.
Discover the next big investment!
Unicorn Signals’ IPO screener helps you identify promising initial public offerings. Download Unicorn Signals and get ahead of the curve! Sign Up Now & Find Your Next IPO Gem!
