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Stocks in Focus: Lupin, Cipla, Sun Pharma, IREDA, JSW Energy, and Others

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The GIFT Nifty futures, which is an early indicator of the Nifty50 index, was trading 0.34% lower by 79.50 points at 23,387, indicating that the domestic benchmark indices are likely to make a negative start on Monday.

On Friday, 21 June, Domestic benchmark indices S&P BSE Sensex slumped 269.03 points, or 0.35%, to end at 77,209.90 while the Nifty50 traded 65.90 points or 0.28% lower and settled at 23,501.10.

Here are some stocks that are likely to remain in focus on 24 June.

JSW Energy: The company announced that they have secured a wind-solar hybrid power project from Solar Energy Corporation of India Limited (SECI) to set up 300 megawatts (MW).

SUN Pharmaceuticals: The company has announced positive results for its Phase-1 trials of GL0034 (Utreglutide), a GLP-1 inhibitor drug.

Cipla: The company’s Goa facility was issued a Form 483 with six observations after the US Food and Drug Administration (USFDA) conducted an inspection between 10 June and 21 June 2024.

Lupin: The company announced that its Somerset manufacturing facility has received an Establishment Inspection Report (EIR) from the USFDA and has been assigned a Voluntary Action Indicated (VAI) status.

IREDA: The company has announced raising Rs 1,500 crore via the issuance of bonds, including a base issue of Rs 500 crore and a green shoe option of Rs 1,000 crore. 

Fertiliser Stocks: The GST council has referred the request to reduce the GST on fertilisers to the Group of Ministers (GoM) on rate rationalisation for further consideration.

TVS Motors: The company has announced signing an agreement with CSC Grameen e-Stores to grow the reach of its three-wheeler commercial vehicle range. 

Prestige Estate: The Board of Directors of the company has approved the plans to raise up to Rs 5,000 crore via Qualified Institutional Placement (QIP) and other permitted methods. 

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