Today, auto shares are seeing a greater rise in the market. The index has strengthened about half a percent. Tata Motors has climbed up about 2 percent from the bulish report of brokerage. Selected IT, metal stocks are also seen shopping. On the other hand, the pressure on Munfasuli and public sector banks is also seen in realty. On the other hand, today there is a huge decline in AB Fashion & Retail, Indegene and Sparc in the market. After all, why is there such weakness in today’s market in these three shares. Know why these three shares are today’s Accident of the Day –
Why is there a huge decline in SPARC (Sun Pharma Advanced Research Co Ltd)?
Sparc’s stock was seen trading at a decline of 18.02 per cent at around 11.39 am today. Highlighting this, Yatin Mota of our associate channel CNBC-Awaaz said that the Phase-2 trial of SCD-044 or Vibozilimod has been negative. Vibozilimod is used in psoriasis medicine. The company will no longer work on the development of SCD-044. Now no clinical trials will be done. Will assess the next step on the SPARC compound. SCD-044 was an important medicine for specialty pipeline.
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Why decline in ABFRL (Aditya Birla Fashion and Retail Ltd)?
Today, the market saw a decline of 9.53 percent in Aditya Birla Fashion and Retail Limited (ABFRL) around 11.38 am. Describing the reason for the decline in this stock of Aditya Birla Group, Yatin Mota said that the company has a deal in 8.36% equity. ABFRL has a deal of 10.19 crores. The value of these larger trade is Rs 825 crore. There are reports of flipkart selling part in the market corridors.
Why the fall in indegene?
Indigeno also saw a decline of 4.51 percent during 11.36 am today. Describing the reason for the decline in this, Yatin said that there has been a deal in 2.63 crore shares in Indegene. Large trade was seen in 10.96% equity. The value of large trade is Rs 1561 crore. There are reports of selling parts of Carlile Group.
Disclaimer: (Information provided here is being given only for information. It is necessary to mention here that the investment in the market is subject to risks. Always consult the expert before investing as an investor. There is no advice from Moneycontrol to invest money here.)