Wednesday, 28 March 2018

Share Of Biocon Gained 2.4 Percent As It Has Received Marketing Authorization

Share of Biocon gained 2.4 percent as it has received marketing authorization approval from the European Commission.

Mylan NV and Biocon announced that their co-developed biosimilar insulin glargine Semglee has received marketing authorization approval from the European Commission following the positive recommendation by the committee of Medicinal products for Human use of European Medicines Agency.

Semglee 100 units/ml 3 mL prefilled disposable pen for people with diabetes, is the first biosimilar from Biocon and Mylan's joint portfolio to be approved in Europe.

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The Market Extended Losses On The Back Of Weak Global Cues

The market extended losses on the back of weak global cues, with the Sensex falling 200 points.

The Nifty continued to trade below 10,150 ahead of expiry of March futures & options contracts today, falling 60 points.

All sectoral indices were in the red, with the Nifty Metal, PSU Bank falling over a percent.

Midcaps also traded in line with frontliners, with the Nifty Midcap falling over half a percent.

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Tuesday, 27 March 2018

Sensex Off Day's High, All Sectoral Indices In The Green; Bandhan Bank Up 30%

Bandhan Bank share price jumped 30 percent on debut, following positive market conditions and good investors response to the issue.

The stock price has opened at Rs 487.33 on the National Stock Exchange, against issue price of Rs 375 per share.Wockhardt arm Wockhardt Bio AG gets USFDA nod for Oxacillin sodium injectable

Aurobindo Pharma gets tentative USFDA nod for Emtricitabine Capsules, ICICI Bank: The bank has allotted 1,07,215 shares of face value Rs 2 on March 26 under the ESOP scheme.

Capital First: Merger with IDFC Bank has received the nod of National Stock Exchange.

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The Market Extended Gains On Positive Global Cues, With The Sensex Rising

The market extended gains on positive global cues, with the Sensex rising more than 200 points and the Nifty is inching towards 10,200.

All sectoral indices are trading in the green, with the Nifty Metal and PSU Bank rising 1.5 percent.

The Nifty Midcap also participated in the rally, rising a percent on strong market breadth.

The 30-share BSE Sensex was up 204.95 points or 0.62 percent at 33,271.36, and the 50-share NSE Nifty gained 61.20 points or 0.60 percent at 10,191.90.

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Monday, 26 March 2018

Tata Power Announced That The Company’s Board Has Approved

Tata Power announced that the company’s board has approved the sale of its shares in Tata Communications and Panatone Finvest to Tata Sons and its affiliates.

Panatone Finvest holds 30.1 percent of Tata Communications. "The move is a part of the company’s plan to monetise its non-core assets and improve the balance sheet to set the stage for next phase of growth.

The estimated realisation will be about Rs 2,150 crore and is subject to shareholders approval," Tata Power said.

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The Rupee Strengthened By 10 Paise To 64.91 Against The US Dollar

The rupee strengthened by 10 paise to 64.91 against the US dollar at the interbank forex market on sustained selling of the greenback by exporters and banks amid foreign capital inflows.

Dealers said dollar's weakness against a basket of currencies supported the domestic unit.

On Friday, the rupee had gained 10 paise to end at 65.01 against the US currency which suffered losses in global markets on intensifying trade war worries.

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Friday, 23 March 2018

The 30-Share BSE Sensex Was Down 397.03 Points Or 1.20 Percent At 32,609.24

The 30-share BSE Sensex was down 397.03 points or 1.20 percent at 32,609.24 and the 50-share NSE Nifty fell 128.25 points or 1.27 percent to 9,986.55.

More than six shares declined for every share rising on the BSE.

All sectoral indices were in the red, but only IT is exceptional, trading mildly in the green.

The correction in midcaps was more than frontliners, with the Nifty Midcap index falling 2 percent.

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Tata Steel Is Identified As The Successful Resolution Applicant For Acquisition

Tata Steel is identified as the successful resolution applicant for acquisition of Bhushan Steel.

The steel maker accepts letter of intent for Bhushan Steel under Corporate Insolvency Resolution Process and Insolvency & Bankruptcy Code.

Committee of creditors has finalised Tata Steel as resolution applicant for Bhushan Steel subject to regulator nod.

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Thursday, 22 March 2018

Asian Markets Traded Mixed In What Proved To Be A Choppy Session

Asian markets traded mixed in what proved to be a choppy session after the US Federal Reserve raised interest rates for the first time this year.

Japan's Nikkei 225 rose 0.95 percent and the South Korea's Kospi index was up 0.26 percent while China's Shanghai Composite and Hong Kong's Hang Seng were down 0.2-0.5 percent.

The 30-share BSE Sensex was up 39.79 points at 33,175.97 and the 50-share NSE Nifty rose 7.40 points to 10,162.70.

The broader markets extended losses, with the Nifty Midcap index falling 0.7 percent. About two shares declined for every share rising on the BSE.

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The Market Was Off Day's High, With The Nifty Trading Way Below The 10,200 Levels

The market was off day's high, with the Nifty trading way below the 10,200 levels following mixed trend in other Asian peers after the US Federal Reserve rate hike.

The 30-share BSE Sensex was up 39.79 points at 33,175.97 and the 50-share NSE Nifty rose 7.40 points to 10,162.70.

The broader markets extended losses, with the Nifty Midcap index falling 0.7 percent. About two shares declined for every share rising on the BSE.

All sectoral indices were in the red, with the PSU Bank falling 1.5 percent.

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Wednesday, 21 March 2018

The Market Continued To Trade Strong But Is Slightly Off Day's High

The market continued to trade strong but is slightly off day's high, with the Sensex rising more than 250 points and the Nifty is hovering around 10,200 levels.

All eyes are on the outcome of US Federal Reserve meeting due later today. The street is expecting a rate hike. Investors will also be closely eyeing Fed Chairman Jerome Powell's commentary on future rate hikes

Midcaps held morning gains, with the Nifty Midcap rising a percent. Bharti Airtel was the top gainer among Nifty50 stocks, rising nearly 4 percent.

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Share Price Of Jubilant Foodworks Added 2 Percent On Introducing Everyday Value

Share price of Jubilant Foodworks added 2 percent on introducing Everyday Value at Rs 99 for small group size pizzas.

Domino’s Pizza announced the launch of everyday value price in its range of regular sized pizzas. The everyday value price will enable customers to buy two regular pizzas at an attractive price of Rs 99 each.

The everyday value price will help Domino's pizza in increasing pizza penetration across marke, especially in smaller towns, company said.

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Tuesday, 20 March 2018

Asian Markets Were Weaker, As The Pullback On Wall Street Overnight Weighed On Sentiment

Asian markets were weaker, as the pullback on Wall Street overnight weighed on sentiment. The Nikkei 225 fell 0.9 percent, tracking the declines seen stateside overnight while the South Korea's Kospi index was down 0.4 percent.

US stocks dropped on Monday, with the S&P and Nasdaq suffering their worst day in just over five weeks, as concerns over increased regulation for large tech companies was spearheaded by a plunge in Facebook shares.

The Dow Jones Industrial Average fell 335.6 points, or 1.35 percent, to close at 24,610.91, the S&P 500 lost 39.09 points, or 1.42 percent, to 2,712.92 and the Nasdaq Composite dropped 137.74 points, or 1.84 percent, to 7,344.24.

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The Rupee Depreciated Further By 4 Paise To Hit Its Four-Month Low Of 65.21 Against The US Dollar

The rupee depreciated further by 4 paise to hit its four-month low of 65.21 against the US dollar on some dollar-buying by importers and banks and weakness in the domestic equity market.

The greenback's gains against major global currencies ahead of the US Federal Reserve's key policy meet that kicks off later in the day, in which it is expected to hike interest rates, weighed on the domestic unit, dealers said.

Yesterday, the rupee slipped 23 paise to close at 65.17 against the dollar due to concerns over a widening current account deficit.

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Monday, 19 March 2018

IRB Infrastructure Informed Exchanges That The Company Has Emerged

IRB Infrastructure informed exchanges that the company has emerged as a preferred bidder for a Hybrid Annuity Project under NHDP Phase VI in the state of Gujarat.

With addition of these projects, the company's construction orderbook stands to approximately Rs 12,000 crore to be executed in three years.

State-owned Indian Oil Corporation and Bharat Petroleum Corporation Ltd may buy 26 percent stake each in gas utility GAIL India Ltd, paying the government over Rs 20,000 crore each to become integrated energy firms.

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The Market Continued To Trade Mildly Lower Amid Volatility

The market continued to trade mildly lower amid volatility, with the Nifty struggling below 10,200 levels.

Midcaps underperformed frontliners, with the Nifty Midcap index falling 1 percent.

All sectoral indices turned negative, with PSU Bank, Metal and Realty indices falling more than 1 percent.

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Friday, 16 March 2018

The Midcaps Also Erased Early Gains To Trade Flat

Benchmark indices fell further amid political upheaval after the Telugu Desam Party formally decided to quit the NDA government.

The 30-share BSE Sensex was down 192.96 points at 33,492.58 and the 50-share NSE Nifty declined 57.90 points to 10,302.30.

The midcaps also erased early gains to trade flat.

Nifty Metal was the biggest loser among sectoral indices, falling over 1 percent followed by FMCG, Auto, Bank and IT.

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The Rupee Reversed Opening Losses To Gain 2 Paise At 64.91 Against The US Dollar

The rupee reversed opening losses to gain 2 paise at 64.91 against the US dollar.

The rupee was down 3 paise in opening on strength in dollar against other currencies overseas as traders eye next week's US Federal Reserve meeting, and a lower opening in domestic equities kept pressure on the domestic unit, dealers said.

Meanwhile, data released by the commerce ministry showed, exports grew by 4.5 per cent in February, the lowest expansion in the last four months, to USD 25.8 billion as shipments of engineering, textiles and gems and jewellery declined, while trade deficit narrowed to a five-month low of USD 12 billion.

Yesterday, the rupee fell by 10 paise to end at 64.93 against the American currency due to sustained foreign fund outflows amid growing prospects of rate hike by the US Fed next week.

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Thursday, 15 March 2018

MMTC Shares Rallied Nearly 19 Percent Intraday Ahead Of Board Meeting

MMTC shares rallied nearly 19 percent intraday ahead of board meeting to consider bonus share issue next week

The state-owned trading company informed exchanges that the board of directors will consider and approve the proposal for issue of bonus shares subject to consent of the President of India, in its meeting to be held on March 19, 2018.

The company said the competent authority has approved for closure of the trading window for the above purpose with immediate effect i.e. from March 14 to March 21, 2018.

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Benchmark Indices Traded Lower Amid Tepid Global Cues

Benchmark indices traded lower amid tepid global cues, with the Nifty struggling below the 10,400 levels.

IOC, Reliance Industries, ICICI Bank, Yes Bank, HDFC, ITC, TCS and SBI were leading contributors to the Nifty fall whereas HDFC Bank continued to support the market.

The 30-share BSE Sensex was down 83.61 points at 33,752.13 and the 50-share NSE Nifty fell 30.60 points to 10,380.30 while the Nifty Midcap index gained half a percent.

About two shares advanced for every share falling on the BSE.

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Wednesday, 14 March 2018

Punjab National Bank Has Told The Police That It Has Uncovered Additional

Punjab National Bank has told the police that it has uncovered additional exposure of about Rs 942.18 crore to Asmi Jewellery of Gitanjali Group in connection with a massive alleged fraud, according to a court filing by the Central Bureau of Investigation.

This takes the Delhi-based lender’s total exposure to one of country’s biggest banking frauds up to Rs 13,640 crore from the earlier estimate of Rs 12,700 crore.

As investigations widen and unauthorized loans are uncovered, the bank has said that the total amount allegedly defrauded by the accused till date is about Rs 7,080.86 crore during the period 2013-17, according to the CBI filing.
  
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Asian Markets Tracked Losses Seen On Wall Street, Following The Sacking

Asian markets tracked losses seen on Wall Street, following the sacking of US Secretary of State Rex Tillerson, and amid talk of potential US tariffs against China.

The Nikkei 225, Kospi, Shanghai Composite, Hang Seng and ASX 200 were down between 0.4 percent and 1.2 percent.

Meanwhile at Wall Street, Dow Jones and S&P 500 closed down 0.6 percent while Nasdaq lost 1 percent on Tuesday.

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Tuesday, 13 March 2018

TCS Shares Fell More Than 5 Percent In Morning After The Large Block

TCS shares fell more than 5 percent in morning after the large block deal trade.

Tata Sons, the promoter of major operating companies of the Tata group, was planning to raise around Rs 8,200 crore by selling stake in the IT major, according to investment banking sources.

Tata Sons was looking to sell around 2.83 crore shares amounting to about 1.48 percent stake in TCS, the sources added.

After the proposed share sale, Tata Sons' holding in Tata Consultancy Services would come down to around 72 percent from 73.52 percent as on December, 2017.

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Benchmark Indices Opened Mildly Lower On Tuesday After The January's industrial

Benchmark indices opened mildly lower on Tuesday after the January's industrial output and February's CPI inflation data announced later in the day yesterday. It was a bit of profit booking after yesterday's more than 600 points rally on the Sensex.

The 30-share BSE Sensex was down 25.52 points at 33,892.42 and the 50-share NSE Nifty fell 7.50 points to 10,413.90.

TCS was biggest loser among Nifty50 stocks, falling more than 5 percent after big block deal. Nifty Midcap was down 38 points and Nifty Bank was flat.

UCO Bank, IDBI Bank, PNB, Canara Bank, Bank of Baroda, Balrampur Chini, Shree Renuka, Dhampur Sugar, InterGlobe Aviation and Biocon fell up to 5 percent.

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Monday, 12 March 2018

L&T Shares Gained Nearly A Percent After Its Construction Arm Has Bagged Orders

L&T shares gained nearly a percent after its construction arm has bagged orders worth Rs 2,597 crore.

Transportation infrastructure business has received an order worth Rs 1,047 crore and water & effluent treatment segment has won an order worth Rs 949 crore.

Buildings & factories division has secured an order worth Rs 601 crore. Andhra Bank shares tanked 11 percent after the Enforcement Directorate has filed prosecution complaint against Anup Prakash Garg, ex- director of the bank under PMLA in Rs 5,000 crore bank fraud case involving Sterling Biotech, its directors & others.

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The Rupee Strengthened By 17 Paise To 64.99 Against The US Dollar

The rupee strengthened by 17 paise to 64.99 against the US dollar at the interbank forex market on fresh selling of the greenback by exporters and banks amid foreign capital inflows.

Dealers said dollar's weakness against a basket of currencies despite strong US jobs report data and early gains in domestic equity markets supported the rupee.

On Friday, the rupee had lost 3 paise to end at 65.17 against the US dollar.

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Friday, 9 March 2018

The Market Turned Volatile And Was Moving In Tight Range

The market turned volatile and was moving in tight range after showing a positive opening led by global cues.

The 30-share BSE Sensex was up 130.73 points at 33,482.30 and the 50-share NSE Nifty gained 41 points at 10,283.70.

About two shares advanced for every share falling on the BSE.

Banks stocks were under pressure whereas index heavyweights HDFC twins, Reliance Industries, Infosys and ITC capped losses.

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Benchmark Indices Opened Mildly Higher On Last Day Of The Week

Benchmark indices opened mildly higher on last day of the week, following positive lead from global peers.

The 30-share BSE Sensex was up 43.17 points at 33,394.74 and the 50-share NSE Nifty gained 13.10 points at 10,255.80.

Vedanta, Bharti Airtel, Dr Reddy's Labs, Tata Steel, Aurobindo Pharma and UPL were early gainers while SBI, Coal India, NTPC, BPCL, Kotak Mahindra Bank, UltraTech Cement and Indiabulls Housing were losers.

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Wednesday, 7 March 2018

Shares Of Gitanjali Gems Plunged By Another 5 Percent As CBI Tightened

Shares of Gitanjali Gems plunged by another 5 percent as CBI tightened the noose on PNB offenders by arresting the vice president of Gitanjali Group of Companies.

The agency yesterday arrested Vipul Chitalia in the Rs 12,636-crore PNB scam and claimed that he was a "mastermind" who reported directly to diamond trader Mehul Choksi.

This is the 15th straight session of fall for the stock. It has lost as as much as 80 percent since February 14, the day PNB fraud came to light.

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Benchmark Indices Extended Losses In Late Morning Deals As The Sensex Was Down

Benchmark indices extended losses in late morning deals as the Sensex was down 160.66 points to 33,156.54 and the Nifty fell 58.50 points to 10,190.80, weighed by banks.

Nifty PSU Bank index slumped 3 percent and Nifty Bank lost over a percent while Nifty Midcap index dropped 1.4 percent.

About four shares declined for every share rising on the BSE. India is keen to collaborate with other nations on 5G to cement its position as a "leader" in refinement and adoption of this emerging and important technology, Telecom Minister Manoj Sinha said.

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Tuesday, 6 March 2018

The Rupee Rose By 11 Paise To 64.99 Against The US Dollar On Mild

The rupee rose by 11 paise to 64.99 against the US dollar on mild selling of the greenback by exporters and a higher opening in the domestic equity market.

Meanwhile, the dollar gained against most major global currencies as concerns over a global trade war eased after investors saw Trump's proposed tariffs as more of a negotiating tactic than a hard policy proposal.

Investors sentiment was supported by the US non-manufacturing sector growth and improved risk appetite for the dollar, currency traders said.

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Benchmark Indices Lost More Than Half Of Gains In Late Morning Deals

Benchmark indices lost more than half of gains in late morning deals due to correction in select banks stocks.

The 30-share BSE Sensex was up 95.30 points at 33,842.08 and the 50-share NSE Nifty rose 35.50 points to 10,394.40.

ICICI Bank and SBI were down half a percent each. JSW Steel shares rallied 3.7 percent intraday after sources told CNBC-TV18 that the company has signed memorandum of understanding to acquire Italy’s second largest steelmaker Aferpi.

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Monday, 5 March 2018

The Rupee Firmed 14 Paise To 65.02 Against The Dollar After The Greenback

The rupee firmed 14 paise to 65.02 against the dollar after the greenback came under pressure as US President Donald Trump's comments raised concerns of a global trade war.

Trump on Friday said trade wars were good and easy to win. His plan to put tariffs on steel and aluminium imports triggered a negative sentiments across overseas markets.

Forex dealers said weakness in the dollar against some other currencies overseas and foreign capital inflows in the domestic equity markets supported the rupee.

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Reliance Infrastructure, Along With Its Subsidiary Issued An Arbitration

Reliance Infrastructure, along with its subsidiary issued an arbitration notice against founder promoters of Pipapav Defence and Engineering for claims aggregating to Rs 5,440.38 crore for breach of warranties under the purchase agreement.

On March 4, 2015, RInfra, its subsidiary Reliance Defence Systems and the founder promoters of Pipapav Defence and Engineering entered an agreement for acquisition of shares of Pipapav Defence and Engineering, which is now being named Reliance Naval and Engineering Ltd.

"The company, along with its subsidiary, RDSPL has issued an arbitration notice against Nikhil Gandhi, Bhavesh Gandhi and their companies, i.e. SKIL Infrastructure Ltd, Grevek Investments and Finance Pvt Ltd and SKIL Shipyard Holdings Pvt Ltd.

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Thursday, 1 March 2018

Ashoka Concessions Emerged As The Lowest Bidder At The Financial Bid

Shares of Ashoka Buildcon gained 7.4 percent in the early trade on Thursday as the company emerged as lowest bidder for the project in the state of Jharkhand.

The company's subsidiary Ashoka Concessions had submitted its bid to National Highways Authority of India for the project of six laning of Khairatunda to Barwa Adda section of NH-2 in the state of Jharkhand under NHDP Phase-V on hybrid annuity mode.

Ashoka Concessions emerged as the lowest bidder at the financial bid opening meeting held on February 28, 2018 at New Delhi.

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Shares Of Dilip Buildcon Rose 3.7 Percent In The Early Trade On Thursday

Shares of Dilip Buildcon rose 3.7 percent in the early trade on Thursday as company declared lowest bidder by NHAI for 3 new projects.

The company has declared L-1 bidder by the National Highways Authority of India for three new hybrid annuity projects valued at Rs 5390 crore in the state of Karnataka and Jharkhand respectively.

The trading window for dealing in the securities of the company by its designated employees, directors and promoters is already closed till March 2, 2018, which shall continue to remain close till March 6, 2018.

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