Sensex Trades Marginally Higher; ICICI Bank & HDFC Top Gainers

After acquisition, the business will have access to Strides' already approved product portfolio for the markets Fairmed operates in with supplies from several of its EU approved facilities.

Last month, Strides, through its US-based subsidiary had acquired the soft gel capsule manufacturing facility of Micelle BioPharma in Florida for US$ 500,000.

Strides Pharma Science share price is presently trading down by 0.3%.

Meanwhile, the US Food and Drug Administration (USFDA) has issued an Establishment Inspection Report (EIR) for Alkem Laboratories' manufacturing facility located at St. Louis, Fenton Logistics Park, USA which was inspected from August 16, 2019 to August 22, 2019.

The company received a Form 483 issued by the USFDA containing four observations.

Alkem Laboratories share price is presently trading down by 0.2%.

Moving on to news from the engineering sectorWalchandnagar share price is witnessing buying interest today after the company bagged a contract from Indian Space Research Organization (ISRO).

The company in its BSE filing said it secured an order worth Rs 772 million plus escalation from the Vikram Sarabhai Space Centre of ISRO located at Thiruvananthapuram.

Shares of the company are locked in 20% upper circuit on back of the above news.

The order is towards manufacturing and supply of head, middle and nozzle end segments (total 30 numbers) for the GSLV M KIII launch vehicle, it added.

The company's Managing Director & CEO said it is the company's second largest single order from ISRO and the largest as far as the GSLV-M KIII launch vehicle is concerned.

Note that the company has been a strategic partner to ISRO since the 1970s and has supplied critical launch vehicle hardware for all its programs (SLV, ASLV, PSLV, GSLV, and GSLV-M Klll) including the latest Chandrayaan-2 mission.

Meanwhile, Larsen & Toubro (L&T) said its Oman arm has won a "significant" contract in Muscat to build a hotel and residences. Reports state that the contract is in the range of Rs 10 billion to Rs 25 billion.

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