Wockhardt's shares dropped 5% after the company announced a qualified institutional placement (QIP) at a floor price of Rs 1,162.25, an 8.5% discount from Wednesday's closing price. The company may offer an additional discount of up to 5% on the floor price. Despite the recent decline, Wockhardt's shares have risen by approximately 25.5% in the past year and 8.
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Shares of Adani Energy Solutions on Thursday fell up to 9% to Rs 978 on BSE after global index services provider MSCI failed to include the stock in MSCI Global Standard Index citing an earlier show cause notice from Sebi in the wake of allegations made by Hindenburg. The Street was expecting Adani Energy to get included in the global index as part of its periodic rejig.
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Domestic brokerage Motilal Oswal initiated coverage on small-cap rice producer LT Foods, seeing a bullish outlook on the company on its strong market share, international growth plans and growing consumption for basmati products. The brokerage assigned a target price of Rs 520 per share, which implies an upside of around 36 percent from the current levels.
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