From Rs 1 lakh to Rs 43,000 in just 4 months! Here's why this construction firm has lost over half its value since May

Aurobindo Pharma extends losses, falls further

Edelweiss Financial hits 3-year low as CRISIL cuts rating

 

Shares of Edelweiss Financial Services slumped nearly 9 percent to a three-year low of Rs 77.20 after CRISIL downgraded its rating on the company's broking services Edelweiss Securities and various arms of the company. CRISIL has downgraded its rating on Edelweiss Securities' Rs 12.8-billion long-term bank facilities to 'AA-' from 'AA', and also cut the rating on a Rs 13.35 billion long-term borrowing programme of Edelweiss Housing Finance to 'AA-' from 'AA'.

Indoco Remedies up on US FDA OK for drugs from Goa unit

Shares of Indoco Remedies rose as much as 6 percent, ending a four-session losing streak, after the company got a final approval from the US Food and Drug Administration for Rasagiline tablets. This is the first drug approval the company has received for its Goa plant, after the US drug regulator cleared units II and III in Goa in July. Both units had received a warning letter in March 2017.  The company has received an approval for its abbreviated new drug application of 0.5-1 mg Rasagiline tablets, a version of Teva Pharmaceutical Industries' Azilect and used to treat Parkinson's disease. According to a US-based clinical research firm IQVIA, sales of Rasagiline tablets in the US in 2018 were at $105 million. Shares of the company were up 2.9 percent at Rs 145.05 apiece at 11.53 am.

CONCOR shares dip 7%

Shares of Container Corporation of India (CONCOR) fell more than 8 percent on October 7 after indications that DGFT may disallow its claims worth Rs 861 crore. Shares quoted at Rs 571.85 apiece on NSE at 11.51 am, down by 7 percent. The stock opened at the day's high of Rs 601, down from its Friday's close of Rs 614.80.

Here's a quick round-up of what has so far happened in the markets today

-Benchmark equity indices opened on a highly volatile note on Monday as weak domestic and global cues weighed on investor sentiment amid sustained foreign fund outflow.

-The Sensex gained over 180 points, or 0.48 percent, to 37853.80 in initial trade. The broader 50-share NSE Nifty50 rose just over 21 points, or 0.19 percent, to 11,196.

-Shares of Zee Entertainment Enterprises fell over 13 percent on Thursday after promoter Essel Media disclosed pledge creation on 10.71 percent equity with VTB Capital, which is for loan agreement executed on September 4, 2017.

-The stock slumped as much as 13.4 percent to hit its 52-week low of Rs 203.70 per share on BSE. 

-The rupee opened on a weak note and declined by 21 paise to 71.09 against the US dollar in opening trade on Monday, as sustained foreign fund outflows weighed on investor community.

BPCL extends losses on profit-booking, leads Nifty losers

Shares of Bharat Petroleum Corporation ltd (BPCL) extended their losses from Friday as investors continued to book profits in the stock. BPCL shares traded 4.42 percent lower, quoting at Rs 492.75 apiece, leading Nifty losers. Shares of the company have rallied 28 percent since the government's announcement of sharp cut in corporate tax rate in September on hope that the government will privatise the oil refiner.