Stocks to watch: Aurobindo Pharma, Bharti Airtel, Infratel, Vodafone Idea

At 08:47 am, Nifty futures on the Singapore Exchange (SGX) were trading 102 points or 0.85 per cent lower at 11,932.50, indicating a negative start for the domestic market on Monday. 

Here's a look at the top stocks that may remain in focus today - 

Aurobindo Pharma: In a surprise development, the US drug regulator FDA revoked the ‘Voluntary Action Initiated’ status issued to Aurobindo Pharma's plant in Hyderabad, days after indicating it might not pursue further regulatory action.

Tobacco companies: According to media reports, Health Ministry is mulling to increase the legal age for tobacco consumption from 18 to 21 years as part of its efforts to strengthen the provisions of Cigarettes and Other Tobacco Products Act.  

Bharti Airtel: Airtel is committed to complying with the Supreme Court order on adjusted gross revenue (AGR) dues, and is ready to pay the remaining amount “expeditiously", PTI quoted Bharti Airtel chairman Sunil Bharti Mittal on Thursday. 

Vodafone Idea: The government has approved the long-pending merger of Bharti Infratel with Indus Towers, news agency IANS reported. Indus Towers is a three-way joint venture between Bharti Infratel, UK-based Vodafone Group and Vodafone Idea, with the first two holding 42 per cent each. Vodafone Idea has 11.15 per cent and the remaining 4.85 per cent is with private equity firm, Providence. Bharti Airtel owns a majority stake (53.51 per cent) in Bharti Infratel.

Dr Reddy's: The company said it has received the Establishment Inspection Report (EIR) from the USFDA, for its formulations manufacturing plant at Duvvada, Visakhapatnam, indicating closure of the audit. As intimated earlier, the facility has been classified as V AI (Voluntary Action Indicated).

Axis Bank, Max Financial Services: Axis Bank and Max Financial Services have entered into a confidentiality and exclusivity arrangement to explore a long-term strategic partnership, subject to, inter a/ia, receipt of applicable regulatory approvals and corporate authorisations, satisfactory completion of due diligence, and execution of definitive documentations, according to an exchange filing. 

Biocon: Biocon on Saturday said it has received three observations from the US health regulator following inspection of its insulin manufacturing facility in Malaysia.

GMR Infrastructure: French airports operator ADP, which operates Paris airports Roissy and Orly, has bought a 49 per cent stake in GMR Airports for 1.34 billion euros ($1.45 billion), ADP said on Thursday.  

Ambuja Cements: The company posted a net profit of Rs 352 crore, up 40.8 per cent against Rs 250 crore in the year-ago period. Net sales rose around 10 per cent YoY to Rs 3,038 crore. The Board of Directors have also recommended a dividend on equity shares of nearly 1.50, the company said in its press release. 

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel