Friday, 29 December 2017

Benchmark Indices Continued To Trade Higher On The First Day Of January

Benchmark indices continued to trade higher on the first day of January series, with the Nifty holding 10,500 level.

The 30-share BSE Sensex was up 176.33 points at 34,024.36 and the 50-share NSE Nifty gained 37.10 points at 10,515.

About three shares advanced against two shares declining on the BSE.

TCS, Tata Motors, Bharti Infratel, Axis Bank, Maruti Suzuki, HCL Technologies, Asian Paints and Adani Ports were biggest gainers among Nifty 50 stocks, up 1-2 percent.

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The Rupee Gained 9 Paise Against The US Dollar To Trade At 63.99 In Early Session

The rupee gained 9 paise against the US dollar to trade at 63.99 in early session on selling of the US currency by exporters and banks.

The dollar was weak against major currencies in global markets which supported the local currency, a currency dealer said.

Domestic stock markets opening higher too bolstered the rupee sentiment.

The rupee opened higher by 3 paise at 64.05 a dollar against previous close of 64.08 a dollar.

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Thursday, 28 December 2017

Benchmark Indices Continued To Be Rangebound In Morning Ahead

Benchmark indices continued to be rangebound in morning ahead of last expiry of futures & options contracts of the year.

The 30-share BSE Sensex was up 24.71 points at 33,936.52 and the 50-share NSE Nifty gained 12.60 points at 10,503.40. About two shares advanced for every share falling on the BSE.

The government yesterday said it has decided to make an additional borrowing of Rs 50,000 crore this fiscal through dated securities, a move that may put burden on the fiscal deficit target of 3.2 percent of GDP.

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Nifty Hovers Around 10,500 Ahead Of F&O Expiry: Hindalco Top Gainer

Shares of Axis Bank today tanked nearly 2 percent after market regulator Sebi ordered the lender to conduct a probe into the alleged data leak.

In its first order in the WhatsApp leak case, regulator Sebi last night ordered Axis Bank to strengthen its systems and conduct an internal probe to fix responsibility as the initial investigation showed that the leakage was due to "inadequacy" of processes at the bank.

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Wednesday, 27 December 2017

The Construction Arm Of L&T Has Won Orders Worth Rs 1,125 Crore Across

The construction arm of L&T has won orders worth Rs 1,125 crore across various business segments.

"The metallurgical and material handling business has bagged orders worth Rs 710 crore in metallurgical sector, in the area of product business and add-on jobs," the infrastructure and engineering major said in its filing.

Other businesses of L&T construction have received orders worth Rs 415 crore.

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Canara Bank Said It Will Raise Up To Rs 3,500 Crore Capital

Canara Bank said it will raise up to Rs 3,500 crore capital through a qualified institutions placement route. The decision in this respect was taken at the bank's board meeting held today.

"The board of bank at its meeting held on December 26, 2017 has decided to raise additional equity share capital amounting up to Rs 90 crore through qualified institutional placement route, by issuing up to 9 crore equity shares of a face value of Rs 10 each with a premium to be decided as per the applicable guidelines/regulations for an aggregate amount not exceeding Rs 3,500 crore inclusive of such premium," it said in a regulatory filing.

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Tuesday, 26 December 2017

Sensex Trades Flat, Nifty Around 10,500 Mark; Midcaps Outperform

Shares of Alembic Pharmaceuticals rose 1 percent in the early trade on Tuesday as its associate company Rhizen Pharmaceuticals received USFDA approval for cancer drug.

“Rhizen Pharmaceuticals SA announced that USFDA has granted orphan-drug designation for the active moiety of Tenalisib, the company’s highly selective and orally active dual PI3K delta/gamma inhibitor, for the treatment of peripheral T-cell lymphoma,” as per BSE release.

Orphan-drug designation is granted to a drug or biological product intended to treat a rare disease in the United States.

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Tata Power Gained Over 3 Percent On The Back Of An Order Win

Shares of Tata Power gained over 3 percent on the back of an order win by its arm in Russia.

Tata Power’s Russian subsidiary Far Eastern Natural Resources LLC has bagged the mining licence for a thermal coal mine in Kamchatka province in far east Russia.

"The subsidiary participated in the financial auction process at Petropavlovsk, Kamchatka today and was awarded a license at approximately USD 4.7 million," Tata Power said in a BSE filing.

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Thursday, 21 December 2017

Midcaps Outperform Sensex; Unitech, DB Realty, Sun TV Rally

Mortgage firm PNB Housing Finance today said its Chief Financial Officer Jayesh Jain has resigned from the company.

"Jayesh Jain has decided to step down as the Chief Financial Officer and key managerial personnel of the company. His last working day is January 5, 2018," PNB Housing Finance said in a BSE filing.

PNB Housing Finance, however, did not elaborate.

Tracking a firm trend overseas, gold prices advanced by 0.19 percent to Rs 28,546 per 10 grams in futures trading today as speculators built more bets.

At the Multi Commodity Exchange, gold for delivery in February rose Rs 53, or 0.19 percent, to Rs 28,546 per 10 grams in a business turnover of 337 lots.

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The Reserve Bank Of India's Policy Rates Are Likely To Remain Unchanged

The Reserve Bank of India's policy rates are likely to remain unchanged in 2018 despite higher inflation, a recovering growth and elevated oil prices, says a Nomura report.

According to the Japanese financial services major, strengthening of the growth recovery could push a few Monetary Policy Committee members towards a "tightening bias".

Minutes of the December 6 policy meeting show that despite upside risks to inflation, most MPC members voted for a pause because of growth concerns, Nomura said.

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Wednesday, 20 December 2017

Sensex, Nifty Trade With Mild Gains; ONGC, Hindalco, Hero Top ainers

Bank of India informed exchanges that the Reserve Bank of India has placed the bank under Prompt Corrective Action Framework, consequent to the onsite inspection under the Risk Based Supervision Model carried out for year ended March 2017, and the report issued thereof.

"This is in view of high net NPA, insufficient CET1 Capital and negative return on assets for two consequent years. This action will contribute to the overall improvement in risk management, asset quality, profitability, efficiency, etc of the bank," it said.

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Tuesday, 19 December 2017

Sensex Marginally Off Day's High, Nifty Holds 10,400; Midcap Index Outperforms

Benchmark indices were marginally off the day’s high points, but the Nifty continued o trade above 10,400.

At 13:21 hrs IST, the Sensex was up 73.68 points or 0.22% at 33675.36, while the Nifty was up 23.80 points or 0.23% at 10412.60. The market breadth was positive as 1756 shares advanced against a decline of 713 shares, while 138 shares are unchanged.

The initial public offering of Astron Paper and Board Mills was over-subscribed 6.86 times on the third day of bidding, stock exchanges data showed.

The IPO to raise Rs 70 crore received bids for 9,60,60,160 shares against the total issue size of 1,40,00,000 shares, data available with the NSE showed.

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Equity Benchmarks Retained Opening Gains, Backed By Positive Global Cues

Equity benchmarks retained opening gains, backed by positive global cues and as after winning state elections, BJP is ready to form government in Gujarat and Himachal Pradesh.

The 30-share BSE Sensex was up 113.78 points at 33,715.46 and the 50-share NSE Nifty rose 34.40 points to 10,423.20.

About 1,699 shares advanced against 531 declining shares on the BSE.

Nifty Auto (up 1.5 percent) and Metal (1 percent) were biggest gainers among sectoral indices.

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Monday, 18 December 2017

Equity Benchmarks Stated Off The Week Sharply Lower On Monday

Equity benchmarks stated off the week sharply lower on Monday as latest voting counts indicated that BJP is leading in both states (Gujarat and Himachal Pradesh) but with small margin.

The 30-share BSE Sensex was down 740.11 points or 2.21 percent at 32,722.86 and the 50-share NSE Nifty fell 208.80 points or 2.02 percent to 10,124.50.

Out of 30 stocks, only 1 stock is trading in green, which is Cipla after getting tentative approval from the US Food and Drug Administration for HIV drug, Darunavir hydrate (75-800 mg).

About five shares declined for every share rising on the BSE.

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BJP Takes Lead In Gujarat And Himachal Polls. Here's How D-Street Reacted

Early trends from the 2017 Gujarat election results place the Bharatiya Janata Party in the driver’s seat. This follows an early lead for the saffron party in Gujarat.

At 10:57 am, the BJP was leading 104 seats against Congress' 75 constituencies in contrast to 8:35 am, when the BJP was leading in 58 seats while the Congress was leading in 32 assembly constituencies.

The majority mark — 92 seats — has now been crossed by the BJP.

The market had a jittery start, with the Sensex plunging over 850 points, while the Nifty fell over 200 points in early trade. But the BJP victory came in as a relief to investors as market cut all its losses to trade in the green.

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Friday, 15 December 2017

HDFC Has Sold 1.29 Crore Shares Of Unitech In The Open Market

HDFC has sold 1.29 crore shares of Unitech in the open market and invoked nearly 8.2 crore pledged shares of the crisis-hit realty firm.

HDFC has sold 1,29,19,566 shares carrying voting rights worth 0.49 percent stake, and invoked 8,19,88,820 pledged shares worth 3.13 percent stake, according to a regulatory filing.

Promoters hold 17.92 percent stake in Unitech, of which 73 percent is pledged, as per the shareholding pattern at the end of the second quarter of this fiscal.

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The Rupee Jumped 19 Paise To 64.15 Against The Dollar Today

The rupee jumped 19 paise to 64.15 against the dollar today on exit poll findings that the BJP is set to win in Gujarat and Himachal Pradesh assembly elections.

According to the findings released yesterday, the BJP is set to retain Gujarat and wrest Himachal Pradesh from the Congress. This led to a ripple effect on the stock market, which zoomed, impacting in turn the rupee sentiment.

The dollar lost some mojo against the euro after the European Central Bank left its policy rates and stimulus measures intact. The Bank of England, too, kept key interest rates unchanged.

Yesterday, the rupee bounced 10 paise to end at 64.34 a dollar.

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Thursday, 14 December 2017

The 30-Share BSE Sensex Was Up 13.08 Points At 33,066.12

Equity benchmarks continued to be choppy in trade today as investors eagarly awaited exit polls results later today after the end of second phase of Gujarat Assembly elections. The rate hike by Federal Reserve, which was on expected lines, was largely priced in by market.

The 30-share BSE Sensex was up 13.08 points at 33,066.12 and the 50-share NSE Nifty rose 9.60 points to 10,202.60.

The gap between advances and declines narrowed. About 1,006 shares advanced against 918 declining shares on the BSE, against 5:1 in early trade.

Oberoi Realty was up 5 percent. Motilal Oswal has initiated coverage with a buy rating on the stock as it expects company to be a key beneficiary of the likely consolidation post RERA.

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The Rupee Looked Strong Today With A Gain Of 13 Paise At 64.31 Against The Dollar

The rupee looked strong today with a gain of 13 paise at 64.31 against the dollar even as the Federal Reserve raised interest rates by a quarter percentage point.

In her final act as the Fed chair, Janet Yellen moved to hike rates to a range of 1.25 percent to 1.5 percent, citing solid US job growth and household spending. The central bank kept its policy outlook on additional increases for 2018 and 2019 unchanged.

Yesterday, the rupee had lost 4 paise at 64.44 against the American currency ahead of the US Fed's rate call.

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Wednesday, 13 December 2017

Asian Shares Were Treading Water In Early Trade On Wednesday

Asian shares were treading water in early trade on Wednesday as crude oil futures steadied after a selloff, while a widely expected interest rate hike from the Federal Reserve underpinned the dollar.

MSCI's broadest index of Asia-Pacific shares outside Japan was a few ticks higher in early trade.

Japan's Nikkei stock index edged down slightly, shrugging off data that showed Japanese core machinery orders rose a more-than-expected 5 percent in October in a sign of resilient capital spending.

U.S. stocks rose on Tuesday amid growing optimism that Republican lawmakers would be able to revamp the corporate tax system. Wall Street also looked to the Federal Reserve as its two-day policy meeting kicked off.

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The Indian Rupee Declined In The Early Trade On Wednesday

The Indian rupee declined in the early trade on Wednesday. It has opened lower by 13 paise at 64.53 per dollar versus 64.40 Tuesday.

Pramit Brahmbhatt of Veracity said, "Strength in crude prices and stronger dollar ahead of Fed policy outcome will put pressure on rupee. Trading range would be 64.20-64.80."

The dollar index rose to its highest level in a month and treasuries lost ground ahead of interest rate decision from the Federal Reserve due later today.

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Tuesday, 12 December 2017

Dr Reddy's Laboratories Shares Rallied As Much As 6 Percent In Morning

Dr Reddy's Laboratories shares rallied as much as 6 percent in morning Tuesday on getting clearance to Bachupally plant.

The pharma major informed exchanges that it has received an establishment inspection report from the US Food and Drug Administration on Monday after closure of audit of Bachupally unit, Hyderabad.

In April, the USFDA conducted an audit of this formulation manufacturing plant 3 and issued a form 483 with 11 observations.

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Equity Benchmarks Began The Day On A Flattish Note

Equity benchmarks began the day on a flattish note with a hint of negative bias. Soon after the opening, indices moved in the red zone, with the Nifty giving up 10,300.

The Sensex was down 67.71 points at 33388.08, while the Nifty was down 26.60 points at 10295.70. The market breadth was narrow as 611 shares advanced against a decline of 577 shares, while 43 shares are unchanged.

Among sectors, banks have taken a hit, while midcaps are in tandem with benchmarks.

Dr Reddy’s Labs, ONGC, and GAIL were the top gainers on both indices, while Asian Paints, Coal India and HPCL lost the most.

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Monday, 11 December 2017

The Rupee Was Up 6 Paise At 64.39 Against The Dollar

The rupee was up 6 paise at 64.39 against the dollar, helped by stronger domestic equities.

Apart from selling of the American currency by exporters, forex dealers said the dollar's weakness against other currencies overseas kept the rupee higher.

On Friday, the rupee had gained 12 paise to end at 64.45 on fresh selling of the American currency amid unwinding of long dollar bets ahead of release of key US macro data.

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Jet Airways Share Price Rallied More Than 4 Percent In Morning

Jet Airways share price rallied more than 4 percent in morning after Edelweiss upgraded its rating as well as raised target price on the stock.

Edelweiss has upgraded the stock to buy from hold and raised target price to Rs 822 from Rs 548 per share as it feels measures initiated by new CEO would turnaround company's stressed financials.

The company is focussing on sustaining growth via cost rationalisation. The strategy is to focus on cost efficiencies & debt reduction, it said.

Edelweiss raised FY18 EBITDAR margin to 16.8 percent from 15.5 percent.

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Friday, 8 December 2017

The Indian Rupee Traded Higher At 64.55 Against The US Dollar

The Indian Rupee traded higher at 64.55 against the US dollar, rising 2 paise compared with previous close.

Increased selling of the American currency by exporters and banks supported the rupee. Positive equity markets also aided sentiment.

On Thursday, the rupee had lost further ground to end at a near two-week low of 64.57 against the US currency, falling by 5 paise.

Meanwhile, the BSE Sensex was up 171.86 points at 33,121.07 and the Nifty gained 51.30 points at 10,218.

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Reliance Industries Has Acquired Stake In A Newly Incorporated Entity

Reliance Industries has acquired stake in a newly incorporated entity viz Dreketi SA in Uruguay.

Consequentially Dreketi has become wholly-owned subsidiary of the company.

Currently, Dreketi is not engaged in any business activity.

This is a part of company's plan to strengthen its marketing efforts in Latin American region, Reliance Industries said.

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Thursday, 7 December 2017

GAIL Was Biggest Gainer Among Nifty 50 Stocks, Up 4 Percent

Equity benchmarks rallied further in late morning deals, with the Sensex rising 243.40 points to 32,840.58.

The Nifty is firmly trading above 10,100-mark, up 81.40 points at 10,125.50.

The market breadth was strong as about three shares advanced for every share falling on the BSE.

GAIL was biggest gainer among Nifty 50 stocks, up 4 percent followed by Tech Mahindra, Tata Power, Bosch, Eicher Motors, NTPC, Tata Steel, Maruti, Bajaj Auto and L&T.

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The Rupee Is Trading Flat At 64.52 Against The US Dollar

The rupee is trading flat at 64.52 against the US dollar at the interbank foreign exchange today.

The rupee had lost 14 paise to end at 64.52 against the US dollar yesterday after RBI decided to keep the key policy rates unchanged and raised the inflation forecast.

Jet Airways, Shriram EPC, Precision Wires, Zicom, Venus Remedies, Indian Hume, Hotel Leela, Ginni Filaments, Asian Hotel and Cambridge Tech will announce its September quarter earnings today.

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Wednesday, 6 December 2017

Shares Of Shilpa Medicare Declined Nearly 6 Ercent In Morning

Shares of Shilpa Medicare declined nearly 6 percent in morning as it has received 10 observations from USFDA.

The company has received 483 observations from the United States Food & Drug Administration in relation to SEZ formulation facilities situated at Jadcherla, Telangana.

The company has received total 10 observations, which includes 7 observations for improvement in procedures and practices and 3 observations are related to setting of analytical specifications, test procedures and method validation.

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Tuesday, 5 December 2017

The 30-Share BSE Sensex Was Down 107.30 Points At 32,762.42

Equity benchmarks remained under pressure in morning after the Fitch Ratings lowered India's economic growth forecast for FY18. 

Investors also maintained their cautious stance ahead RBI policy meet and mid-term review of foreign trade policy.

The 30-share BSE Sensex was down 107.30 points at 32,762.42 and the 50-share NSE Nifty declined 31.70 points to 10,096.10.

About two shares declined for every share rising on the BSE.

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The Reserve Bank Of India Looks Set To Keep Its Policy Rate On Hold

The Reserve Bank of India looks set to keep its policy rate on hold on Wednesday, after inflation accelerated to a seven-month high and stronger economic growth reduced the need for monetary stimulus.

All but two of 54 analysts in a Reuters Poll said the repo rate would be left at 6.00 percent, the lowest since November 2010.

In August, the RBI made its only cut in 2017, of 25 basis points, and in October, it held.

On Wednesday, after a two-day meeting, the RBI is likely to reiterate concern about inflation, as the annual rate increased to 3.58 percent in October. That's low by Indian standards, but not far from the central bank's 4 percent target.

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Monday, 4 December 2017

The Rupee Was Trading Down By 3 Paise At 64.49 Against The US Currency

The rupee was trading down by 3 paise at 64.49 against the US currency in early trade today at the interbank foreign exchange as the dollar strengthened in global markets after progress on the US tax-cut proposal.

Dealers also attributed the rupee's fall to increased demand for the US currency from importers but a higher opening in the domestic equity market capped the losses to some extent.

The rupee opened lower by 7 paise at 64.53 against last close of 64.46 on higher demand for the dollar. Later the rupee reverses its losses to touch a high of 64.45 in early trade.

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Equity Benchmarks Started Off The Week On A Positive Note

Equity benchmarks started off the week on a positive note, backed by Infosys that gained 2.5 percent after the appointment of new CEO and MD.

The 30-share BSE Sensex rose 89.51 points to 32,922.45 and the 50-share NSE Nifty gained 23.60 points at 10,145.40. About 980 shares advanced against 291 declining shares on the BSE.

Infosys, Indiabulls Housing, Tata Motors, Dr Reddy's Labs, SBI, Aurobindo Pharma and ICICI Bank were early gainers while Tech Mahindra, Sun Pharma and Hero MotoCorp were early losers.

Biocon surged 10 percent as the US FDA approved Mylan and Biocon's Ogivri, the first biosimilar for Trastuzumab, for the Treatment of HER2-Positive breast and gastric cancers.

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Friday, 1 December 2017

Jet Airways Fell Half A Percent After Aviation Fuel Price Hiked

Jet Airways fell half a percent after aviation fuel price hiked by Rs 3,206 per kilolitre to Rs 57349 per kilolitre in Delhi.

US oil held steady today after OPEC and other major producers agreed to extend production curbs in a widely expected move aimed at ending a persistent glut in global supplies.

The Organization of the Petroleum Exporters and non-OPEC producers led by Russia on Thursday agreed to maintain the output cut until the end of 2018, while also signalling a possible early exit from the deal if the market overheats.

US crude futures were up 0.4 percent at USD 57.62 a barrel. The contract gained about 5.6 percent in November, the third month of gains.

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India's Largest Car Maker Maruti Suzuki's November Sales Matched Analyst Expectations

India's largest car maker Maruti Suzuki's November sales matched analyst expectations as it sold 1.54 lakh units during the month, higher by 14.1 percent YoY.

The company sold 1.35 lakh units in November 2016 and a CNBC-TV18 poll estimated sales at 1.52 lakh units.

The growth was largely driven by domestic sales that grew by 15 percent year-on-year to 1.45 lakh units in month gone by.

Exports sales were largely muted, growing 0.8 percent YoY to 9,300 units in November 2017.

The stock price hit a fresh record high of Rs 8,695, rising a percent intraday after sales data.

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Thursday, 30 November 2017

The Sensex Was Down 216.40 Points At 33386.36, While The Nifty Too Was Down 71.80 Points

The Sensex was down 216.40 points at 33386.36, while the Nifty too was down 71.80 points at 10289.50. The market breadth was negative as 764 shares advanced against a decline of 1290 shares, while 81 shares were unchanged.

Bajaj Auto and Dr Reddy’s Labs were the top gainers, while Kotak Mahindra, BHEL, and UltraTech Cement lost the most.

Shares of Tribhovandas Bhimji Zaveri tumbled 15.5 percent in morning on the back of weak Q2 numbers.

The company has registered 90 percent decline in its Q2 net profit at Rs 80 lakh against Rs 7.89 crore in the same quarter last fiscal.

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Cipla Health, The Consumer Healthcare Arm Of Cipla, Plans To Revitalise

Cipla Health, the consumer healthcare arm of Cipla, plans to revitalise its over-the-counter consumer business through more in-house launches and brand acquisitions in the coming quarters.

“We are looking at switching Cipla’s prescription products into consumer products and organic launches wherever there is a huge unmet need of it like the immune-boosters that we launched now,” said Anantha Nayak, Chief Executive Officer of Cipla Health.

“We are also actively looking at any kind of inorganic growth through mergers and acquisitions,” Nayak added.

He said the company is looking at new product launches in segments such as gastrointestinal, pain and analgesic, cough and cold and nutritional supplements.

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Wednesday, 29 November 2017

Sensex, Nifty Rangebound Ahead Of F&O Expiry; Coal India, DRL Gain

Shares of Cadila Healthcare added 1.3 percent intraday as it has received USFDA approval for Candesartan Cilexetil and hydrochlorothiazide tablets.

Zydus Cadila has received the final approval from the USFDA to market Candesartan Cilexetil and hydrochlorothiazide tablets USP in the strengths of 16mg/12.5 mg, 32mg/12.5mg and 32 mg/ 25 mg.

The drug combines an angiotensin II receptor antagonist and a diuretic, hydrochlorothiazide and is used to treat high blood pressure.

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The Rupee Ss Trading Flat After Seeing Depreciation Of 10 Paise To 64.51 Against The US Dollar

The rupee is trading flat after seeing depreciation of 10 paise to 64.51 against the US dollar in opening at the interbank foreign exchange due to appreciation of the American currency overseas.

Yesterday, the rupee had gained further ground against the US currency and finished at a new two-month high of 64.41, appreciating by 9 paise after sustained dollar unwinding by exporters and corporates.

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Tuesday, 28 November 2017

The Rupee Pared Initial Losses To Trade At Rs 64.41 Per Dollar

The rupee pared initial losses to trade at Rs 64.41 per dollar, up by 9 paise, in late morning deals on bouts of dollar selling from banks and exporters amid a subdued dollar overseas.

The rupee opened lower at 64.53 against previous closing level of 64.50 per dollar at the interbank forex market. It slid further to 64.60 in early trade amid losses in stock markets.

The domestic currency reversed the trend in late morning trade and hit a high of 64.35 before trading at 64.41, up by 9 paise, at 1100 hrs. The domestic unit hovered between 64.60 and 64.35 during morning trade.

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The Nifty 50 Has Rallied 26 Percent In 2017 So Far

The stocks in focus this morning will be the realty pack - a media report suggests that there might be a tax on the unsold inventory held by developers.

In an interview to CNBC-TV18, Gulam Zia, Executive Director of Knight Frank said real estate industry is in a doldrums situation with so many changes; regulatory and goods and services tax etc. It was weathering those blows and this is supposed to be the next one.

He further said that unsold inventory was always there, now we just have more clarity on the data.

Talking about real estate locality in general, he said the worst affected market is National Capital Region and on the other hand Bengaluru developers have always been doing well.

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Friday, 24 November 2017

The Indian Rupee Opened Flat At 64.58 Per Dollar On Friday

The Indian rupee opened flat at 64.58 per dollar on Friday versus previous close 64.58.

Bhaskar Panda of HDFC Bank said, "The dollar had lost some sheen yesterday after FOMC minutes cautious about inflation. 

In Indian markets, the rupee gained on the hopes of a favourable S&P decision after Moody's upgraded India ratings."

"Expect USD-INR pair to trade within a range of 64.50-64.70 today with a further appreciation bias."

Asian markets were mixed, following a relatively quiet overnight trading session as U.S. markets had been closed for the Thanksgiving holiday.

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The Market Breadth Was Positive As 641 Shares Advanced

Frontline indices began on a positive note, with the Nifty opening above 10,350-mark. Midcap index was trading at a record high, but at par with the benchmarks.

The Sensex was up 70.74 points at 33658.82, while the Nifty is up 23.00 points at 10371.80. The market breadth was positive as 641 shares advanced, against a decline of 227 shares, while 33 shares were unchanged.

Bajaj Auto, Cipla and Bharti Infratel gained the most on both indices, while HUL, Asian Paints, Zee Entertainment and HPCL were the top losers.

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Thursday, 23 November 2017

Nifty Above 10,350 Amid Consolidation; Midcap Gains Atrength

The 30-share BSE Sensex was up 39.85 points at 33,601.40 and the 50-share NSE Nifty rose 15.90 points to 10,358.20.

The Nifty Midcap index gained 0.4 percent and the BSE Smallcap rose nearly a percent. About two shares advanced for every share falling on the BSE.

The bank approved allotting over 5.49 crore shares to qualified institutional buyers at issue price of Rs 23.22 per share, it had said in a regulatory filing.

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Equity Benchmarks Opened Mildly Higher On Thursday But Immediately Erased

Equity benchmarks opened mildly higher on Thursday but immediately erased those gains to trade flat. Investors closely watch crude oil prices movement and other global cues due to lack of domestic cues.

The 30-share BSE Sensex was down 23.63 points at 33,537.92 and the 50-share NSE Nifty fell 4.80 points to 10,337.50.

About 719 shares advanced against 409 declining shares on the BSE. Bharti Airtel, Bosch, Bharti Infratel, Infosys and Power Grid were early gainers. Dr Reddy's Labs, UltraTech Cement, Asian Paints, Zee Entertainment and Axis Bank were early losers.

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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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