India Hot Stocks:Ranbaxy up as plant gets UK, Aus nod
(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 .BSESN 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.)
(bharghavi.nagaraju@thomsonreuters.com)
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* Hikal Ltd (HIKA.BO) rose more than 13 percent on low volume after the maker of chemical and pharmaceutical products said its board will meet on March 25 to consider merging its wholly owned unit, Hikal Pharmaceuticals Ltd, with itself.
The shares are trading 11.9 percent higher at 176 rupees on volume of 4,150 shares.
(10:26 a.m.)
(bharghavi.nagaraju@thomsonreuters.com)
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* Shares in Tata Motors (TAMO.BO) rose as much as 8 percent in early trade ahead of the launch of the Nano, the world's cheapest car at less than $2,000, on Monday.
Shares in the auto maker were up 5 percent at 168.95 rupees.
(10.05 a.m.)
(jasudha.kirpalani@thomsonreuters.com)
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* Ballarpur Industries (BILT.BO) rose after a block deal of 16 million shares or 2.9 percent of its equity on the BSE at 16.10 rupees a share.
Shares were up 10.96 percent at 16.40 rupees.
(9:59 a.m.)
(aniruddha.basu@thomsonreuters.com)
--------------------------------------- (Editing by Sunil Nair)
