Here are some of the stocks that may see significant price movement today.
Vedanta: Parent company Vedanta Resources has ‘strongly denied’ any news reports suggesting that promoters are planning a stake sale in Vedanta Ltd.
Cipla: The USFDA has issued a Form 483 with six observations for the company’s Goa facility following an inspection conducted from June 10 to June 21, 2024. The Goa plant has been under a warning letter since February 2020. Additionally, the company’s Indore plant has been under a warning letter since November 2023.
Sun Pharma: The company has announced the outcome of its Phase-1 obesity trial for GL0034 (Utreglutide), a GLP-1 inhibitor drug. Utreglutide belongs to the same class as Ozempic and Wegovy from Novo Nordisk, and Mounjaro from Eli Lilly. Although the drug is still in the early stages of development, it enhances the prospects of the company’s specialty business. GLP-1 drugs generated nearly $50 billion in sales in 2023 and are projected to reach $100 billion by 2029.
Lupin: The company has received an Establishment Inspection Report (EIR) from the USFDA for its Somerset manufacturing facility, with a Voluntary Action Indicated (VAI) status. The inspection took place from May 7 to May 17, 2024.
Prestige Estate: The board has approved raising up to ₹5,000 crore through Qualified Institutional Placement (QIP) and other methods.
CarTrade Tech: Highdell Investment and Macritichie Investments are likely to sell 7% and 3.4% stakes, respectively, on Monday through block deals. The floor price is set at ₹820 per share, representing a 4.3% discount to Friday’s closing price.
MCX: The board has shortlisted candidates for the position of its next Managing Director & CEO. The company will now begin seeking regulatory approvals for the appointment.
Tata Steel: Employees of Tata Steel in the UK are set to strike for the first time in 40 years, with approximately 1,500 workers planning to commence the strike on July 8.
Adani Ports: Adani Ports will join the S&P BSE Sensex from today, while Wipro will exit the 30-stock index as part of the semi-annual rebalancing.
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