Stocks in News Today, December 12: ITC, Vodafone Idea, Zydus Lifesciences, Apar Industries Ltd

Stocks in News Today, December 12: Indian benchmark indices S&P BSE Sensex and Nifty50 are expected to trade lower when they resume trading today amid negative sentiments prevailing in the global stock markets.

Check Stocks in News Today, December 12. Pic: Reuters

Stocks in News Today, December 12: Indian benchmark indices S&P BSE Sensex and Nifty50 are expected to trade lower when they resume trading today amid negative sentiments prevailing in the global stock markets. Singapore-based SGX Nifty futures, an early indicator of movement in Nifty trading at 18,549.5, down 41.5 points or 0.22 per cent while Dow Futures were trading at 33,445.50, down 31 points or 0.09 per cent.

Here is why ITC, Vodafone Idea, Zydus Lifesciences, Apar Industries Ltd. are stocks in the news today, December 12:

Stocks in News Today, December 12

ITC

The stock is in the news as the government may soon ban the sale of loose cigarettes.

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According to the reports, the Standing Committee of the Parliament suggested banning the sale of loose cigarettes.

Vodafone Idea

Vodafone Idea and American Tower Corporation (ATC) have jointly extended the last date for subscribing optionally convertible debentures (OCD) to February 28, 2023.

On December 6, the company informed that the approval taken from the shareholders for issuing OCD has lapsed. A new approval will be retaken from the shareholders now. Vodafone Idea was to settle dues with vendor ATC by converting 1600 crore debt into equity.

Zydus Lifesciences

The company received a nod from USFDA to market Silodosin and Pregabalin Capsules2.

Capsules will be made at Moraiya's (Ahmedabad) formulation manufacturing facility. Use of Silodosin in the treatment of Prostate Gland. Use of Pregabalin in the treatment of Diabetes Infection. Silodosin Capsules $14 M (Rs 115 crore) in US Annual Sales as per IQVIA data. Pregabalin Capsules sales $242 M (Rs1984 crore) annually in the US as per IQVIA data.

*Data is as per Sep 2022