Asian vaccine stocks followed their global peers lower, with Shanghai Fosun dropping by as much as 21% in Hong Kong, after Merck & Co. said its experimental antiviral pill cuts the risk of hospitalization and death from Covid-19 in half.
- India’s API suppliers to big pharma rise; Divi’s Labs gains as much as 10%, Laurus Labs 1.2%
Steel Strips Wheels Advances 5% As Board Approves Sub-division Of Shares
Shares of Steel Strips Wheels Ltd. rose 5% to Rs 1,881.35 apiece after the company’s shareholders approved the sub-division of equity shares from one share of face value of Rs 10 each to two shares of face value of Rs 5 each.
In an exchange filing post market hours Friday, Steel Strips Wheels said that it will intimate the record date for the sub-division of shares later.
India Yield Curve Steady, Stocks Up
Maturities across the India sovereign yield curve were little changed in Monday morning trading.
- The 5-year yield fell 0.6bps to 5.684%
- The 10-year yield was little changed at 6.248%
- The 14-year yield was little changed at 6.754%
- The 5-year-10-year yield spread was 56.4bps, vs previous close 55.4bps
