Here are the top headlines of the day
Indian company says no approvals are required for the acquisition and it is likely to be completed by July 31
Godrej Consumer's stock has been trading with a corrective bias for the last three weeks
Regulator initiates proceedings for disclosure violations
Economic Affairs Secretary Tarun Bajaj says he is certain that a V-shaped economic recovery will take a year.
Sun Pharma said its American arm Taro Pharmaceutical has resolved all cases involving multi-year investigations by US Department of Justice into the country's generic pharmaceutical industry
Taro Pharma has reached a settlement agreement with the US Department of Justice, Antitrust and Civil divisions to pay more than $200 million to settle the generic drug price fixing allegations
The drug major, which has presence in around 150 countries, caters to various various segments like psychiatry, anti-infectives, neurology, cardiology, oncology, among others
Wipro's stock has provided breakout from a symmetrical triangle formation on the daily chart with higher than average volumes
Nod for Ilumya, a specialty product, would strengthen firm's dermatology portfolio in Japan, but analysts caution that the segment has been witnessing price erosion of late
The stock prices, however, dropped by 3.3 per cent on the BSE at the end of day's trade
One of the company's wholly-owned subsidiaries and Hikma Pharmaceuticals have entered into the agreement for Ilumya, Sun Pharma said in a filing to BSE
This is the first phytopharmaceutical drug (plant based) that the country's drug regulator has approved for clinical trials for Covid-19.
The stock's primary trend is positive and its price is trading above 200-day SMA
At present there are three clinical trials underway to test nafamostat in Covid19 patients around the world
Sun Pharma it has initiated manufacturing of the active pharmaceutical ingredient and the finished product of the drug using technology from its unit, Pola Pharma Japan.
The Bajaj group is the only one on the list of 12 conglomerates to be down - 1 per cent - since the lockdown came into effect, thanks to the hammering of stocks of non-banking financial companies.
Pricing pressure in US, lockdown may dent near-term prospects
Net profit, too, saw a 37 per cent YoY fall to Rs 399.8 crore, against estimates of Rs 950-1,000 crore.
Revenues in the US market, its largest geography, came in at $375 million down 15 per cent, though the year ago period had a high base due to a one-time contribution of specialty products