Sun Pharma Share Price Jumps 5% On Signing Licence Agreement With AstraZeneca

Shares of Sun Pharmaceutical Industries and AstraZeneca Pharma added 5 percent and 2 percent respectively on November 5 after both companied entered in to licensing agreement.

Sun Pharmaceutical Industries and AstraZeneca UK Ltd. entered into a licensing agreement to introduce certain novel ready to-use infusion oncology products in China, as per Sun Pharma BSE release. The agreement will help to bring cost effective and quality drugs to patients in China.

As per the terms of the agreement, Sun Pharma will be responsible for development, regulatory filings and manufacturing the products covered in the agreement while AstraZeneca will exclusively promote and distribute these products in China.

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Yes Bank Gains Nearly 9% After Jhunjhunwala Buys Stake For Rs 86.89 Crore

Shares of private lender Yes Bank rose nearly 9 percent in the early trade on November 5 after Rakesh Jhunjhunwala bought stake in the company via open market transactions. 

Ace investor Rakesh Jhunjhunwala bought 1.29 crore shares in private lender on November 4 through open market transactions.

According to bulk deal data available with the BSE, Jhunjhunwala bought 12,950,000 shares of the private lender, that translates to around 0.5 percent stake in the bank. The shares were bought at an average price of Rs 67.1, taking the transaction to Rs 86.89 crore.

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The Sensex Is Up 48.83 Points Or 0.12% At 40350.79, And The Nifty Up 9.50 Points

The Sensex is up 48.83 points or 0.12% at 40350.79, and the Nifty up 9.50 points or 0.08% at 11950.80. About 643 shares have advanced, 384 shares declined, and 50 shares are unchanged.

Auto and pharma stocks ate the top gainers while FMCG stocks dragged. Most active shares on NSE included YES Bank, HDFC, Bajaj Finance, Infosys and SRF.

The company has received establishment inspection report from the the US Food and Drug Administration for its biologics drug product facility in Bengaluru, stating the inspection is closed.

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Shares Of Tata Motors Slipped 2 Percent In The Early Trade On November 4

Shares of Tata Motors slipped 2 percent in the early trade on November 4 on the back of weak sales numbers for the month October 2019. On November 1, the company reported a 34 percent fall in its October 2019 sales at 41,354 vehicles.

The carmaker had sold 62,264 units in October last year. The company’s domestic sales for October 2019 was down 32 percent at 39,152 units against 57,710 units YoY.

The total CV sales fell 36 percent at 28,002 units against 43,813 units and M&HCV sales shed 63 percent at 4,893 units against 13,185 units, YoY.

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Benchmark Indices Are Trading Higher In The Pre-Opening Session

Benchmark indices are trading higher in the pre-opening session with Nifty above 11,900.

The Sensex is up 105.87 points or 0.26% at 40270.90, and the Nifty up 42.40 points or 0.36% at 11933.00.

Sensex is up 144.26 points or 0.36 percent at 40309.29 in the opening trade while the Nifty is up 52.40 points or 0.44 percent at 11943.00. Tata Steel, Vedanta and IndusInd Bank are the top gainers while YES Bank, Tata Motors and Mahindra & Mahindra are the top losers.

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Maruti Suzuki October Sales Increase 4.5 Percent YoY To 1.53 Lakh Units

Maruti Suzuki registered a 4.5 percent growth year-on-year in October sales led by compact, UV segments while the month-on-month growth was pretty high at 25.4 percent driven by festive season and heavy discounts. 

Company sold 1.53 lakh units during the month against 1.46 lakh units sold in same month last year, which was lower than Nomura expectation of 1.7 lakh units.

Maruti said domestic sales in October grew by 4.5 percent year-on-year to 1.44 lakh units and exports increased 5.7 percent YoY to 9,158 units. Passenger car sales at 1.06 lakh units increased 4.4 percent year-on-year.

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Bharti Airtel Slips 3% After S&P Places Co On Credit Watch Negative

Shares of Bharti Airtel slipped 3 percent intraday on November 1 after S&P has placed the company on credit watch negative. S&P has placed the company on credit watch negative on adverse Supreme Court ruling, reported CNBC-TV18.

According to S&P the company may not be able to absorb payout due to SC ruling. Earlier, Fitch Ratings has placed Bharti Airtel’s ‘BBB-‘ long-term foreign-currency issuer default rating on rating watch negative.

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