Cairn India is trading higher by 1.5% at Rs 329.80 after the company said that its proposed share buyback offer will commenced from 23 January 2014. The stock opened at Rs 325.65 and touched a low of Rs 324.90 so far on the NSE. A combined 894,000 shares have changed hands on the counter so far on the NSE and BSE.
Shares of Ranbaxy Laboratories have declined after company said it has received the form 483 with certain observations as a result of the recent United States Food and Drug Administration (USFDA) inspection at its active pharmaceuticals ingredient (API) plant at Toansa, Punjab, India.
Shares of Escorts were trading higher after Morgan Stanley Asia (Singapore) PTE bought 15, 09,036 shares at Rs 121.10. In the previous trading session, the share closed at Rs 123.25, up Rs 3.75, or 3.14 percent. The stock opened at Rs 124.30 and touched the high of 126.60 so far on the NSE.
Shares of ITC gained as much as 1.36 percent in morning trade as reports suggest that it has increased Bristol cigarette price. ITC raised Bristol cigarette price by 15 percent to Rs 45 per pack of 10 sticks. Earlier a packet of 10 Bristol stocks costed Rs 38.
Somany Ceramics has soared 13% to Rs 137 after its board approved to issue 4.35 million shares of the company to private equity firm Creador for Rs 50 crore on preferential basis.