Nifty Stock Tips for Today (16th June)

Equity benchmarks continued to trade marginally higher in morning trade but the broader markets outperformed. The 30-share BSE Sensex was up 36.37 points at 31,112.10 and the 50-share NSE Nifty rose 22.55 points to 9,600.60 while the BSE Midcap and Smallcap indices gained over half a percent on positive market breadth. About two shares advanced for every share falling on the BSE. ITC, Tata Motors, ICICI Bank, M&M and Axis Bank were top contributors to Sensex’ gains while Reliance Industries, Infosys, Wipro and TCS were under pressure.

Nifty Stock Tips for Today (16th June)

Ipca Labs
Ipca Labs has suffered a major setback from the US FDA. The company has been banned from the Ratlam unit’s medicines. The company has to show transparency in the manufacturing of medicines. Approval of sale will only be achieved if the manufacturing is corrected.

Tata Motors
Selling 43 percent stake in Tata Tech to Warburg Pincus For $ 36 million, Tata Tech will buy shares in Tata Motors. Deal is expected to complete in 3 months.

AstraZeneca
DCGI, i.e. the drug controller general of India, has been approved to sell and export asthma medication. DCGI has approved this by issuing Form 45.

Century Ply
The subsidiary of Singapore bought 49 percent of the shares in Huesoulin Wood. After the deal, Huesoulin Wood has become Associate Company. Huesoulin Wood Plywood, manufactures wood products. Pennar Industries / Pennar Engineered America has a 50:50 JV plan for supply of goods with Pennar Engineering Systems.

Adani Power
Adani Power has filed a petition in the CERC for compensation of Rs 852 crore. The company has demanded compensation due to changes in domestic coal rules. With the change in the rules, the cost of power generation in Mundra Power Plant has increased.