5 Reasons Why Sensex Zoomed 689 Points Today

Meanwhile, Strides Pharma Science's share price fell 3% to Rs 939, down 6% from its early morning high after Aditya Puri joined as an advisor to the Strides Group & Director of Stelis Biopharma.

The drug maker's stock hit a 52-week high of Rs 1,000 in intra-day trade today.

"Puri's appointment to the Stelis Board comes at an exciting juncture for the company as it transitions from its incubation phase to a consolidation and growth phase to establish itself as a partner of choice globally with the aim of bringing world-class treatments at affordable costs to patients in both emerging and developed markets," Strides said in a press release.

Aditya Puri was the founder-Managing Director and Chief Executive Officer of HDFC Bank from its inception in 1994 until his retirement from the position in October 2020.

With Stelis poised for its next leg of growth, this is the right time to expand the Board, and ensure robust guidance and governance by the best possible industry minds, said Arun Kumar, Founder & Chairman of the board of Strides.

Moving on to news from the automobile sector, Mahindra & Mahindra (M&M) today announced a price increase for its personal & commercial range of vehicles from today, January 8, 2021, due to a rise in input costs.

Shares of the company surged 4% today to hit its 52-week high on the back of the above news.

The price will increase by around 1.9%, resulting in an increase of Rs 4,500 - Rs 40,000, depending on the model and variant, M&M said in a press release.

The company further said that in the case of the new Thar, the current price increase will be effective for all bookings done between December 1, 2020, and January 7, 2021. All fresh bookings for new Thar, effective January 8, 2021, will have prices as applicable on the date of delivery, it said.

The management said the price increase was necessitated due to the unprecedented increase in commodity prices and various other input costs over the past many months.

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Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research ...

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