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Wednesday, December 17, 2014

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Dr Reddy's bounces back 5% from day lows
Shares of Dr Reddy’s Laboratories moved higher by 2% to Rs3,213, bouncing back 5% from intra-day’s low on the National Stock Exchange ( NSE).The stock hit a low of Rs3,057 in early morning trade, after 6.4% yesterday’s fall, on fear that a crash of the Russian currency would hurt the exports of the company.

Godrej Properties falls after huge bulk deal
Godrej Properties slipped nearly 3%, touching to Rs241.35, after 1.51%  equity changed hands in a  bulk deal on the BSE today, December 17, 2014.A  bulk deal of 30.22 lakh shares was executed on the Godrej Properties scrip at Rs251.70 per share in opening trade on the BSE today.

Natco Pharma drops on allotment of preferential shares
Natco Pharma has allotted 1, 61,775 equity shares of Rs10 each at a premium of Rs1190 per share on preferential basis other than cash to the promoters of Natco Organics Limited.  Natco Organics Limited is a 51% subsidiary of Natco Pharma. The stock opened at Rs1, 334 and touched a low of Rs1, 302.Shares of Natco Pharma dropped over 2% at Rs1, 320 after the board allotted shares to promoters of  Natco Organics at a discount to the current market price.

Spice Jet slumps over 6% on grounded fleet
Shares in Spice Jet fall as much as 6.8% to Rs13.10 as the budget carrier's aircrafts are currently grounded because oil companies have not refuelled any of its planes. Loss-making Spice Jet owes money to creditors including oil companies.

Hindalco Coal scam: SC rejects Hindalco case closure by CBI
Hindalco Coal scam: Supreme Court rejected Hindalco case closure by CBI saying that a further investigation is required and sought statement of coal minister in the allocation of coal blocks. Sentimentally negative for Hindalco.

Tata Steel surges in weak environment
Tata Steel rose nearly 3%, touching to Rs400.55, after the Odisha government allowed the steel maker to resume mining operations in four iron ore mines in the state. The state government has issued orders to restart operations of four captive iron ore mines of Tata Steel (till January 28, 2015) following an interim order of the Odisha High Court.

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