Indian shares are expected to open lower on Monday following heavy losses in global markets after the spread of China’s coronavirus jumped in South Korea, Italy and the Middle East. Pharmaceutical companies such as Aurobindo Pharma, Biocon and Dr Reddy’s Labs are in news today due to regulatory developments.
Here are the top stocks to watch out for today:
Dr Reddy’s Labs receives EIR from the USFDA, for its formulations manufacturing plant at Duvvada, Visakhapatnam, indicating closure of the audit.
The Department of Telecom approves the merger of Indus Towers with Bharti Infratel.
GMR Infrastructure sells 49 percent of its stake in the airport business to Groupe ADP to raise Rs 10,780 crore.
Axis Bank, Max Financial Services and Max Life sign exclusivity agreement to explore the possibility of Axis Bank entering into a long-term strategic partnership with Max Life.
Biocon says the USFDA completes a pre-approval inspection of Biocon Sdn. Bhd's Insulins manufacturing facility based in Malaysia and issues a Form 483 with 3 observations.
Aurobindo Pharma says that the USFDA inspection at its Unit IV is still open and under review.
Dilip Buildcon executes an EPC agreement for construction of a new greenfield airport at Rajkot in Gujarat at the cost of Rs 570.06 crore.
PNB Housing Finance says Crisil has downgraded its long-term rating to CRISIL AA/Stable from AA+/Negative.
Telecom: Senior officials of the telecom department and other key ministries met on Sunday to discuss urgent relief measures that can be extended to the telecom industry.
Reliance Communications (RCom) says a meeting of the company's committee of creditors is scheduled to be held on Monday.