India Hot Stocks:Ranbaxy up as plant gets UK, Aus nod

Mon Mar 23, 2009 2:38am EDT
 
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(Adds Ranbaxy Laboratories)

MUMBAI, March 23 (Reuters) - The following stocks were on the move at the BSE on Monday.

At 12.03 p.m., the benchmark 30-share BSE index was up 3 percent at 9,235.83 points.

The 50-share National Stock Exchange Index was up 3.13 percent at 2,894.95 points.

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* Shares in Ranbaxy Laboratories Ltd (RANB.BO) extended gains to nearly 10 percent after it said drug regulators in the UK and Australia had issued "good manufacturing practice" certificates for its Paonta Sahib facility, that had been pulled up by the U.S. regulator. Shares were up 8.5 percent at 157.75 rupees.

In February, the U.S. Food and Drug Administration halted reviews of drug applications from Paonta Sahib plant saying it had falsified data.

(12.02 p.m.)

(swati.pandey@thomsonreuters.com)

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* Shares in Religare Enterprises (RELG.BO) rose as much as 20 percent after the financial services firm said its board will meeet on March 25 to reconsider the terms of a proposed rights issue. Share were up 12 percent at 362.90 rupees.

(11.17 a.m.)

(jasudha.kirpalani@thomsonreuters.com)

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* Subhash Projects & Marketing Ltd (SUBH.BO) extended gains to hit an intra-day high of 53.90 rupees, or up 15.3 percent, after the company said it won a contract worth 4.92 billion rupees from a municipal unit in Thane, near Mumbai to build and operate an underground sewerage system. The shares have eased to 52.70 rupees, up 12.7 percent.

(10:38 a.m.)  Continued...

 

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