Tue, Jul 2, 2024 9:27 AM
Top three stocks that saw heavy demand from buyers in the pre-opening
A Flip by Riya Sharma
Wockhardt shares surged 12% to a 52-week high of ₹993.35, extending their rally to 12 days, with a total gain of over 75%. The pharma company's investigational antibiotic Zaynich showed successful use in treating a cancer patient in the US. Wockhardt had raised ₹480 crore through a qualified institutional placement for Zaynich's phase 3 trials. The stock has given multibagger returns of 118%.
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Adani Group has clarified that it has not received any official communication from the Tamil Nadu government regarding an investigation into an alleged coal import scam. Reports claimed the group, along with others, was being probed for suspected irregularities in tender conditions and coal imports, potentially leading to a loss of ₹6,066 crore for the state corporation between 2012 and 2016.
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Vedanta Ltd reported a 3% increase in aluminium output to 596,000 tonnes, 2,62,000 tonnes of zinc saleable metal, and a 10% rise in saleable steel output to 356,000 tonnes in the June quarter. Meanwhile, zinc international mined metal output fell to 38,000 tonnes, and oil and gas output decreased by 17%. The company's promoters sold 2.6% equity via banks, reducing their stake to around 90%.
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