Stocks in focus on September 1, 2020
By Administrator_India
New Delhi: Markets ended deep in the red on Monday ahead of the release the country’s GDP figures for the April-June period.
India’s Annual Gross Domestic Product (GDP) for April-June 2020 slowed down to 23.9 percent, government data showed on Monday.
The BSE Sensex fell 839.02 points or 2.13 percent to finish at 38,628.29 while the NSE Nifty tanked 260.10 points or 2.23 percent to end at 11,387.50.
Here are Stocks in focus on September 1, 2020
Larsen and Toubro
Engineering and construction giant Larsen and Toubro on Monday said it has completed the strategic divestment of its electrical and automation business to Schneider Electric. The move will see India becoming the third largest country in terms of revenues for Schneider Electric. With this, about 5,000 employees of Larsen and Toubro”s electrical and automation business will be integrated with Schneider Electric”s over 2,000 employees.
Nestle
Nestle Plc said that it would buy the remaining 74.4% stakes at $34.5 per share in the peanut allergy treatment maker Aimmune Therapeutics.
Biocon
Biotechnology major Biocon on Monday said one of its subsidiaries and Mylan NV have launched insulin glargine injection, with brand name Semglee, in the US market. Biocon Biologics India and Mylan NV have launched the product in vial and pre-filled pen presentations in the US, Biocon said in a statement.
JK Cement
JK Cement Ltd on Monday reported a 62.25 per cent decline in consolidated net profit at Rs 49.94 crore for the first quarter ended June 2020 as company”s operations and business performance was impacted due to lock down. The company had posted a net profit of Rs 132.30 crore in April-June period a year ago, JK Cement said in a regulatory filing. Its revenue from operations declined 27.91 per cent to Rs 1,004.84 crore during the quarter under review as against Rs 1,393.92 crore in the year-ago period.
