TOP CORPORATE NEWS

·        IFCI spikes 9%, to sell stake in subsidiary and NSE

IFCI jumped 9% after the company proposes disinvestment of partial stake in NSE and entire stake in IFCI Financial Services.

                                                                                                        

·        TVS Motor gains on bike launch in Tanzania

Shares of TVS Motor Company were up nearly 2% after the company has launched a new motorcycle, StaR HLX 125, specially designed to suit riding conditions in African Continent.

·        Orchid Chemicals up 8% on USFDA nod for insomnia drug

Shares of Orchid Chemicals and Pharmaceuticals rallied as much as 8 percent in on getting US Food and Drug Administration approval for Eszopiclone tablets.

·        ICRA up 18%, Moody's raises stake to 50.06% via open offer

Shares of rating agency ICRA up 18% after its promoter Moody's increased stake to 50.06 percent in the company via open offer.