Shares of SRF will remain in focus as Ashish Bharat Ram, Managing Director, and Rajendra Prasad, Chief Financial Officer, are interacting with certain foreign institutional investors in the US between September 16 and 18. Currently, FIIs hold 10.7 per cent stake in the company. FIIs, who have been consistently increasing their stake in the last four quarters, can buy up to 24 per cent in SRF. Analysts will be keenly watching the announcements on this front.
USFDA nod to keep Aurobindo in focus
Aurobindo Pharma shares will remain active, as the company post-market hours said it has received final approval from the US drug authority to manufacture and market Amoxicillin oral suspension. The drug, used for the treatment of a wide variety of bacterial infections, had a market size of about $19 million for the 12 months ended July 2014. This drug has been approved out of Aurobindo’s Unit XII, semi-synthetic penicillin formulation plant, in Hyderabad.
Bonus issue to buoy Vikas GlobalOne
Vikas GlobalOne, formerly VIkas Profin, will remain in focus as the company board is meeting on Wednesday to consider a bonus issue. The board will also decide on increasing the authorised share capital of the company. Vikas GlobalOne reported a profit of just ₹93 lakh for the quarter ended June 2014 and ₹3.33 crore for fiscal ended March 2014. The company manufactures high-end products used in the plastic, rubber, footwear and packaging industries.