Banking stocks were trading higher, with the Bank Nifty being higher by nearly a percent. Axis Bank and Amtek Auto was higher in early trade with gains of nearly 3 percent and 5 percent, respectively.
10:46 am Credit Suisse on Lupin: Riding on the ‘surprising’ approval of generic Suprep Bowel Prep Kit by the US Food and Drug Administration (FDA),
Lupin could add 5 percent to FY18 earnings per share (EPS), Credit Suisse has said in a report.
Simultaneously, it foresees high competition after the exclusivity period for the product ends. It has an underperform rating on the stock with a 12-month target price of Rs 1,350.
10:35 am Data Watch: Manufacturing purchasing managers’ index (PMI) has expanded for February.
10:20 am Buzzing stock: DLF added over 3 percent intraday on Wednesday ahead of its scheduled Audit Committee meeting. The agenda could include submission of a plan to execute 40 percent stake sale in its rental subsidiary, sources told CNBC-TV18.
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