Wednesday, 22 November 2017

The Rupee Climbed 7 Paise To 64.81 Against The US Currency Today

The rupee climbed 7 paise to 64.81 against the US currency today, spurred by positive equities. Banks and exporters chose to kept an arm's length from the dollar.

Stock markets continued to show strength that bolstered rupee sentiment, currency traders said. However, the dollar's clout overseas weighed heavy on the domestic unit.

Yesterday, the rupee had gained 22 paise to end at a two-week high of 64.89 against the dollar, cashing in on positive sentiment after Moody's upgrade of India's credit rating.

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Equity Benchmarks Were Off Their Opening Highs In Morning, Weighed By Metals

Equity benchmarks were off their opening highs in morning, weighed by metals, pharma and banks stoEquity benchmarks were off their opening highs in morning, weighed by metals, pharma and banks stocks. Profit booking could be actual reason as the market rallied since last Thursday.

The 30-share BSE Sensex was up 17 points at 33,495.35 and the 502-share NSE Nifty fell 9.70 points to 10,317.20.

Reliance Industries, Bajaj Finance, IOC, Vedanta, Bharti Infratel, Axis Bank, Yes Bank, Tech Mahindra and HPCL were under pressure.cks. Profit booking could be actual reason as the market rallied since last Thursday.

The 30-share BSE Sensex was up 17 points at 33,495.35 and the 502-share NSE Nifty fell 9.70 points to 10,317.20.

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Tuesday, 21 November 2017

The Rupee Firmed Up 8 Paise To 65.02 Against The Dollar Today

The rupee firmed up 8 paise to 65.02 against the dollar today, set off by fresh selling of the US currency by exporters and banks.

The local unit received some good support from higher domestic equities. But a strong dollar overseas kept the rupee in check.

Yesterday, the rupee had retreated from its near one-week high and ended lower by 10 paise at 65.11 in a restricted trade amid stray dollar demand.

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Mahindra & Mahindra, One Of India's Oldest Vehicle Manufacturers

Mahindra & Mahindra, one of India's oldest vehicle manufacturers, is testing autonomous tractors, trucks and cars, while moving closer to bringing electric vehicles to the United States, Chairman Anand Mahindra said.

The company, which opened a new North American headquarters north of Detroit on Monday, is considering when to begin US sales of the vehicles, Anand Mahindra said in an interview.

It is also weighing whether the vehicles should carry the Mahindra brand or those of its affiliates Pininfarina, the famed Italian design house; and Ssangyong Motor Co , a Korean manufacturer of utility and crossover vehicles, he added.

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Monday, 20 November 2017

SEBI Begin Crackdown On Penny Stock Firms In PMO-Led Push

The SEBI, on the other hand, is drawing up stringent rules for companies prone to price manipulation and widening the scope of Graded Surveillance Measures.

Graded Surveillance Measures are applied to securities which witness an abnormal price rise not commensurate with financial health and fundamentals.

These measures, aimed at enhancing market integrity, include reduction in price band, periodic call auction and transfer of securities to Trade to Trade category from time to time.

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Glenmark Pharmaceuticals Has Received Final Approval From The US

Glenmark Pharmaceuticals has received final approval from the US health regulator for generic version of Loestrin tablets used to prevent pregnancy.

"Glenmark Pharmaceuticals USA has been granted final approval by the US Food and Drug Administration for Hailey 24 Fe (Norethindrone Acetate and Ethinyl Estradiol tablets, USP and Ferrous Fumarate tablets), 1 mg/20 mcg, the generic version of Loestrin 1 24 Fe tablets, of Allergan Pharmaceuticals," the company said in a filing.

The 30-share BSE Sensex was down 30.71 points at 33,312.09 and the 50-share NSE Nifty declined 15.80 points to 10,267.80.

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Friday, 17 November 2017

Just Dial Shares Gained 4.5 Percent As Nomura Has Maintained Its Buy Rating

Just Dial shares gained 4.5 percent as Nomura has maintained its buy rating on the stock with increased target price at Rs 635 from Rs 590 per share.

Just Dial remains the most cost-effective SME advertising platform in India, with scope for coverage expansion in tier 2/3 cities, the research house said while expecting an EPS to grow at CAGR of 19 percent over FY17-20 and revenue CAGR of 10 percent over FY17-19

Improved traffic growth trends, stable realisations and operational efficiencies are key positives, it feels.

Nomura said the company has now renewed focus on its core search business, but competition from Google or vertical players is an issue.

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