Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls

Dr. Reddy’s (1.57% up)

Shares of Dr Reddy’s Laboratories Ltd ended up 1.57% after the management told CNBC-TV18 that its alliance with European drug company GlaxoSmithKline will not deliver immediately and will become sizeable in three-four years. The company’s shares closed at Rs1,123.80 each on the National Stock Exchange on Tuesday.

Orchid Chemicals (3.30% up)

The Orchid Chemicals and Pharmaceuticals Ltd share surged 3.30% after market talk that the company could possibly sell its Chennai facility. This facility has the US Food and Drug Administration and UK Medicines and Healthcare Products Regulatory Agency approvals for cephalosporins.

Godrej Consumer (2.88% down)

Shares of Godrej Consumer Products Ltd fell 2.88% over dilution concerns. CNBC-TV18 reported that the firm is expected to raise Rs1,000-1,500 crore from the markets. The firm can also look to raise debt of nearly Rs700 crore. Target acquisitions include Sara Lee’s 51% stake in their joint venture in India.

Zicom (5.81% down)

The Zicom Electronic Security Systems Ltd stock plunged 5.81% after gaining 15% a day ago. The company told CNBC-TV18 that it will bid for Commonwealth Games orders and expect a big chunk of the same. The order size is seen between Rs50 crore and Rs150 crore, which will add nearly 80-90% to order book.

Arshiya (13.8% up)

Shares of Mumbai-based logistics firm Arshiya International Ltd surged 13.8% after its subsidiary entered into an agreement with AurionPro Solutions Ltd for the sale of marketing rights along with all existing customers and hosting infrastructure in an all-cash deal.