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Gift Nifty Down 23 Points | Zen Technologies' New Order Win | Ashok Leyland Partners CBS Bank | Top Buzzing Stocks Today
Fri, 1 Sep Pre-Open

Zen Technologies' New Order Win | Ashok Leyland Partners CBS Bank | Top Buzzing Stocks Today

On Thursday last week, Indian share market pared the gains as the session progressed and ended lower.

A solid start to the day found an anti-climactic end as the benchmark indices succumbed to the selling pressure exerted by financials and FMCG stocks.

At the closing bell on Thursday, the BSE Sensex stood lower by 256 points (down 0.6%).

Meanwhile, the NSE Nifty closed lower by 98 points (down 0.5%).

Maruti Suzuki and Cipla were among the top gainers.

BPCL, Britannia on the other hand, were among the top losers.

Broader markets ended on a positive note. The BSE Midcap index ended flat and the BSE SmallCap index ended 0.8% higher.

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Sectoral indices ended on a mixed note with stocks in the consumer durables sector and the realty sector witnessed most of the buying.

On the other hand, stocks from the oil and gas sector and FMCG sector witnessed selling pressure.

Shares of Maruti Suzuki and Coforge hit their 52-week high on Thursday.

The rupee was trading at 82.77 against the US$.

Gold prices for the latest contract on MCX were trading marginally higher at Rs 58,713 per 10 grams at the time of Indian market closing hours on Thursday.

At 7:40 AM today, the Gift Nifty was trading 23 points lower at 19,406 levels.

Indian share markets are headed for a negative opening today following the trend on trend on Gift Nifty.

Speaking of stock markets, a brutal combination of demand destruction, a highly leveraged balance sheet as well as regulatory flip-flops, had turned Suzlon into one of the biggest wealth destroyers in recent history.

But of late, the stock has been on a comeback trail. It has multiplied more than 14x since the lows of March 2020.

It has more than tripled in the last one year.

Are these gains sustainable or is there some danger lurking around the corner?

Rahul Shah, Co-head of Research, answers all these questions in the below video.

Top buzzing stocks today

Nazara Technologies share price will be in focus today.

Shares of Nazara Technologies jumped over 8% to Rs 814 in early trade on 31 August after the company said it is considering raising funds by issuing equity shares on a preferential basis, by the Companies Act.

Ajanta Pharma will also be a top buzzing stock.

Discover: How to Grow Your Wealth in a Stress-Free Way

Ajanta Pharma shares were up 1% at Rs 1,748.90 in the early trade on 31 August after the company received USFDA approval for Topiramate extended release capsules.

Zen Technologies' new order win

Zen Technologies yesterday announced bagging a Rs 722.9 m order from the defence ministry.

Zen Technologies is a provider of military training and anti-drone solutions.

This is one more step towards implementing the Framework on Simulators that the Government released in September 2021.

The company specialises in manufacturing land-based military training simulators, driving simulators, live range equipment, and anti-drone systems. It has filed for over 130 patents, of which over 50 have been granted. The company has shipped more than 1,000 training systems across the world.

Zen Technologies has been investing in research and development.

He revealed that the company expects about 20% of its order book for FY24 to come from exports.

Zen Technologies' current order book stood at a whopping Rs 4.7 bn, and the company is expected to generate revenue of Rs 4 bn in FY24.

It stands among the top Indian drone companies to watch out for in 2023.

India aspires to be a global drone hub by 2030. To know how you can participate in the drone revolution, check out our editorial - How you can unlock the profit potential in Indian drone stocks.

Zydus Lifescience gets USFDA approval

Zydus Lifesciences on Thursday announced that it has received final approval from the United States Food and Drug Administration (USFDA) for Isotretinoin Tablets, used in the treatment of severe cystic acne.

The pharmaceutical company has been awarded the final approval for the Isotretinoin Capsules USP 10 mg, 20 mg 30 mg and 40 mg from the USFDA. The Reference Listed Drug (RLD) for this drug is Accutane Capsules 10 mg, 20 mg and 40 mg.

The aforementioned tablets are recommended for the treatment of severe cystic acne, which is also known as nodular acne.

The capsules are used when none of the other treatments have worked, for example, applying benzoyl peroxide or clindamycin to the skin or taking tetracycline or minocycline orally.

As per Section 505-1 of the United States Federal Food, Drug, and Cosmetic Act (FD&C Act), the company needs to submit a Risk Evaluation and Mitigation Strategy (REMS) for the manufacturing of Isotretinoin Tablets.

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As per IQVIA MAT data for July 2023, the Isotretinoin Capsules USP, 10 mg, 20 mg 30 mg and 40 mg had annual sales worth $165 million in the United States.

So far, Zydus Lifesciences has received a total of 378 approvals and has filed more than 444 Abbreviated New Drug Applications (ANDA) (as of June 30, 2023) since the process of filing started in FY 2003-04.

With robust growth, it is among the Top 5 Pharma Companies in India by Growth.

Ashok Leyland Partners CBS Bank

Commercial vehicle maker Ashok Leyland partnered with CSB Bank to offer vehicle financing solutions to its customers.

The two companies have signed a Memorandum of Understanding, and the partnership will enable them to offer customised financial solutions to the automaker's customers.

The partnership with CSB Bank will benefit customers with financial products, which are specifically tailored for a hassle-free experience. Through our vast network of dealerships, we will be able to provide the best financial solutions to our wide range of commercial vehicle customers.

This partnership will enable the bank to grow its portfolio of assets and extend its reach into previously untapped consumer segments.

Ashok Leyland is among the top EV manufacturers in India.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary


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