Max Financial, Axis Bank, Aurobindo Pharma, GMR Infra Among Key Stocks in Focus Today

Indian stock markets opened the week on a shaky note on Monday after a three-day holiday, led by a massive decline in metal stocks. At 10:53 am, the benchmark BSE Sensex was trading down 399.50 points, or 0.97%, at 40,770.62, while the Nifty 50 index fell 126.95 points, or 1.05%, to 11,953.90. Max Financial, Axis Bank, Aurobindo Pharma, GMR Infra, Bharti Infratel and Yes Bank were among the key stocks in news today.

Read on to know more:

Max Financial, Axis Bank: Shares of Max Financial Services jumped over 5% while those of Axis Bank declined 2.3% after the two companies entered into a confidentiality and exclusivity arrangement to explore a long-term strategic partnership.

Aurobindo Pharma: Aurobindo Pharma Ltd shares plunged over 18% on news that the US FDA inspection at Unit IV is still open and under review.

GMR Infra: GMR Infrastructure Ltd surged 11.4% after the Competition Commission of India gave approval to the company’s proposed 49% stake sale in its airport business to France’s Groupe ADP.

Bharti Infratel: Bharti Infratel Ltd shares fell 1.7% after the Department of Telecommunications approved the Bharti Infratel-Indus Towers deal.

Yes Bank: Yes Bank Ltd shares inched up 1.2% after ICRA cut bank’s issuer rating to A- from A with a negative outlook.

Bajaj Holdings: Bajaj Holdings and Investment Ltd shares gained 1.6% after the company saif it would pay Rs 40 per share interim dividend.

Bajaj Auto: Bajaj Auto Ltd shares lost 1.2% after the company said it would pay Rs 120 per share interim dividend.

PVR: PVR Ltd shares fell 2% after the company opened 5-screen multiplex at Nilamber Triumph Mall, Vadodara.

Indiabulls Housing: Indiabulls Housing Finance Ltd shares gained 3.7% after ICRA cut the long-term rating to ‘AA’ from ‘AA+’.

Dilip Buildcon: Dilip Buildcon Ltd shares dropped 2.5% after the company executed an EPC agreement for the construction of a new greenfield airport at Rajkot in Gujarat.

Biocon: Biocon Ltd shares inched up 1.1% after the US FDA issued three observations to the company’s Malaysia facility