The state-run maker of power plant equipment has floated an Expression of Interest inviting global companies to partner with it and leverage its facilities and capabilities to set up a manufacturing base in India.

The company has a total of 16 manufacturing facilities across the country with a substantial land back.

Shares recovered from the day's low after the announcement, falling as much as 6.9 percent to Rs 20.90, snapping a four-day gaining streak.

The pharma company has informed the exchanges that it has received the final approval from the U.S. FDA to manufacture and market Flucytosine Capsules, the 250 mg and 500 mg version.

The approved drug is used in the treatment of serious infections caused by susceptible strains of Candida.

The said drug is the generic version of Bausch Health's Ancobon capsule. The company intends to launch the product in June 2020.

As per IQVIA, the product had an estimated market size of $43 million for twelve months ending March 2020.

Shares gained as much as 5.22 percent to Rs 658.50 and are up for the third straight day.

• Benchmark indices remain near the day's low
• Nifty down 5 percent to 9,372
• Nifty futures trade at a discount of 27 points
• Sensex down 5.1 percent to 32,014
• Nifty Bank down 7.2 percent to 19,989
• Nifty Midcap Index down 4.3 percent
• Nifty Smallcap Index down 3 percent
• India Volatility Index up 27 percent to 43.14
• Nifty Metal Index down 7.4 percent and is the top sectoral laggard
• Nifty Auto and Nifty Realty index fall over 6.5 percent each
• Nifty I.T., Nifty Media fall over 4 percent each
• Nifty Pharma is the only sectoral gainer; up 1.1 percent
• Cipla remains the top Nifty gainer; up 3.75 percent
• Hindalco remains the top Nifty loser; down 10 percent
• 1,428 stocks on the NSE trade with losses while 318 stocks gain

The company shared its production and sales figures for the month of April with the stock exchanges over the weekend.

The company's Iron Ore production fell 38 percent compared to last year to 1.8 million tonnes while sales fell to 1.38 million tonnes from 2.8 million tonnes, down 49 percent compared to last year.

Shares fell as much as 8.4 percent to Rs 73.80 and are among the worst performers on the Nifty Metal Index.

CRISIL has re-affirmed the credit rating on borrowings and NCDs of the company at AA and that of its fixed deposits at AA+. The outlook has been revised to negative from stable.

CRISIL says that the outlook reflects the delay in capital raise, adding that it faces a high risk of slippages in the wholesale book due to the Covid-19 lockdown, weak economic activity and its impact on real estate.

Shares are locked in a lower circuit of 5 percent at Rs 188 and are down for the sixth day in a row.