Stock Market Highlights, Aug 21: SmallCap index outruns peers; RML, Nelco, Shriram Prop top gainers

Stock Market Highlights on Wednesday, August 21: While the BSE Sensex ended at 80,905, up 102 points, the Nifty settled 71 points higher at 24,770

2:02 PM

Indoco Remedies stock soars over 5% on USFDA approval for opioids drug

Indoco Remedies stock surged up to 5.53 per cent at Rs 358.60 per share on the BSE in Wednesday’s intraday deals. This came after the company disclosed that it has received a final approval from the United States Food and Drugs Administration (USFDA) for its new drug application. READ MORE

1:38 PM

Updater Services stock surges 11% on acquiring stake in subsidiary; details

Updater Services shares surged up to 10.6 per cent at Rs 358.60 per share on the BSE in Wednesday’s intraday deals. This came after the company acquired an additional 22.3 per cent stake in Denave India for Rs 52.57 crore on Tuesday. READ MORE

 

1:25 PM

Rane Group stocks rally; Rane (Madras), Rane Engine, Rane Brake zoom 20%

Shares of Rane Group companies -- Rane (Madras) (Rs 1,320.60), Rane Engine Valve (Rs 518.25), and Rane Brake Lining (Rs 1,197.10) -- were on a roll on Wednesday. The group stocks zoomed 20 per cent on the BSE in the intraday trade in an otherwise subdued market. READ MORE

1:10 PM

F&O Insights: FIIs cover shorts in Bank Nifty; 24,600 is the key for Nifty

The Nifty futures rose by 0.4 per cent on Tuesday to 24,711. The August month futures premium further dipped to Rs 12.25 points to 22.75 a day earlier amid lower market volatility. Trading volumes were below average, with around 1.50 lakh contracts traded on Wednesday as against the last 7-day average volume of around 2.63 lakh contracts. READ MORE

12:55 PM

Larsen & Toubro bags 'large' order for infra development in Maharashtra

Engineering and construction conglomerate Larsen & Toubro (L&T) on Wednesday said that it has bagged a 'large' order for integrated infrastructure development in Maharashtra. The order has been bagged by the Transportation Infrastructure vertical of L&T, the company said in a stock exchange filing. READ MORE

12:41 PM

Pfizer surges 3% as investors cheer 350% dividend announcement; details

Shares of pharmaceutical company Pfizer jumped as much as 3 percent to Rs 6,068.10 during intra-day trade on Wednesday. The northward movement in the rally follows the announcement of a whopping 350 per cent dividend, or Rs 35 per share, for FY24. READ MORE

 

12:35 PM

Here's why Marksans Pharma stocks hit 52-week high on August 21; Know more

Shares of pharmaceutical company Marksans Pharma rose as much as 1.83 per cent to hit a fresh 52-week high of Rs 224.95 per share. The surge in the stock price came after the company announced that its wholly owned subsidiary (WOS) Relonchem Limited has secured Marketing Authorisation from Medicines and Healthcare products Regulatory Agency (UKMHRA) for three products including Fluoxetine 10 mg Capsules; Fluoxetine 30 mg Capsules; Fluoxetine 60 mg Capsules. READ MORE

12:20 PM

Divi's Labs shares jump 5% as US court stays FDA approval for Entresto drug

Shares of Divi’s Laboratories surged up to 5 per cent at Rs 4960 per share on the BSE in Wednesday’s intraday deals. This came after a US court stayed the United States Food and Drugs Administration (USFDA) approval given to a generic drug version of Novartis AG’s heart failure drug, according to a Bloomberg report. READ MORE

12:05 PM

BSE Healthcare hits new high; rallies 10% in 1 month on strong outlook

Shares of pharmaceutical companies were in focus as the BSE Healthcare index hit a new high of 42,009 in Wednesday’s intra-day trade. Notably, the index has rallied 10 per cent in past one month on strong outlook. READ MORE

11:50 AM

Top 5 NSE 500 index high dividend yield stocks: Buy or sell strategy here

IDFC with a dividend yield of nearly 11 per cent tops the dividend yield list of the NSE 500 companies, shows the latest ACE Equity data.

It is followed by BPCL (9 per cent), HPCL (8 per cent), Indian Oil Corporation (7 per cent) and Vedanta (6.6 per cent). Read more

11:30 AM

RMC Switchgears hits 5% upper circuit as unit get nod to set up RE park

RMC Switchgears shares hit upper limit:RMC Switchgears shares were locked in 5 per cent upper circuit at Rs 937.90 per share on Wednesday, August 21, 2024. 

The rise in the stock price came after the company announced that its subsidiary RMC Green Energy has secured approval from Rajasthan Renewable Energy Corporation to set up a 50 MW Renewable Energy Park in Rajasthan under the Rajasthan Renewable Energy Policy 2023. Read more
 

11:15 AM

BGR Energy Systems stock price falls 4% on termination of contract by JUSNL

BGR Energy Systems stock falls: Stocks of BGR Energy Systems were trading under pressure on Wednesday, August 21, 2024. The stocks dropped as much as 3.54 per cent to hit an intraday low of Rs 45.11 per share. 

The fall in BGR Energy Systems stock price came after the company announced that its contract to supply, install, test and commission 132/33 kV GIS at Sarath, Sundernagar and Chattarpur (Package 04A) has been terminated by Jharkhand Urja Sancharan Nigam Limited (JUSNL). Read more

 

11:07 AM

Dr Reddy's Labs hits record high on pact with Kainomyx for malaria drug

Dr Reddy’s Laboratories shares reached their all time high at Rs 7,101 per share on the BSE, surging 1.95 per cent at intraday levels on Wednesday. This came after the company announced its potential partnership with its subsidiary Aurigene Pharmaceutical and US based Kainomyx for developing an anti-malarial drug. Read more

10:50 AM

PNB Housing jumps 7% after 14 mn shares change hands via block deals

Shares of PNB Housing Finance soared 10.25 per cent to an intraday high of Rs 893.6 per share on BSE on Wednesday, August 21. The stock rose after the counter saw multiple block deals.

Till 10:15 AM, 14.23 million shares had changed hands on the BSE. Combined with NSE, 19.97 million shares had changed hands on the counter. Read more

10:48 AM

Market check: Sensex turns flat