Fulford India Ltd, a subsidiary of Merck & Co Inc, jumped 20 per cent to hit the UC., after it approved a delisting offer from its parent company
Merck is offering an indicative price of Rs. 1,150 per share, a 67.7 per cent premium to Fulford India's Friday's close, with the floor price set at Rs. 701.71, according to the BSE filing.
Merck & Co owns 74.95 per cent stake in Fulford, and is looking to acquire the remaining 25.05 per cent.
United Phosphorus (UPL), jumped 10 per cent on Monday after some brokerages upgraded the stock post March quarter earnings. UPL is a global generic crop protection, chemicals and seeds company.
In the March quarter, the company showed a 38 per cent increase in its consolidated net profit at Rs. 278.4 crore on account of strong sales.
This is the sixth consecutive quarter of earnings beat for UPL, global brokerage Morgan Stanley said. It upgraded its target on the stock to Rs. 310 per share.
Domestic brokerage Kotak, which upgraded UPL to add from reduce, saying Q4 results call for higher valuation multiples. Initial efforts are visible in improved return on capital employed, Kotak said. The management is likely to address debt concerns, it add.
Deutsche Bank maintained its buy call on the stock -target Rs. 270, saying new product launches will drive earnings growth.