Market Update: Nifty pharma sprints ahead as Sun Pharma zooms 8%; Bajaj Finance hits new 52-week high
The breadth of the market favoured advances, with 942 stocks advancing, 764 declining and 352 remaining unchanged. On BSE, 1348 stocks advanced, 1208 declined and 122 remained unchanged.
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The breadth of the market favoured advances, with 942 stocks advancing, 764 declining and 352 remaining unchanged. On BSE, 1348 stocks advanced, 1208 declined and 122 remained unchanged.https://ift.tt/2M66WZI
from Moneycontrol Buzzing Stocks https://ift.tt/2Jqgfln
via EMMKAY
According to a report on CNBC-TV18, the company has received a voluntary action initiated (VAI) status for its Halol plant from US FDA.
Under this agreement, Lilly’s BASAGLAR that is manufactured by Lilly will be marketed and distributed in India by Cipla.
The company announced the launch as well as export of its full electric feeder bus eBuzz KG, the 1st bus in this category to be manufactured in India.
There were pending buy orders of 75 shares, with no sellers available.
The breadth of the market favoured advances, with 1388 stocks advancing, 306 declining and 360 remaining unchanged. On BSE, 1861 stocks advanced, 617 declined and 106 remained unchanged.
Banking stocks resumed their uptrend after trimming some gains immediately after the RBI policy outcome was announced.
The Bank Nifty and Nifty PSU bank had both trimmed gains on the back of hiking of repo as well as repo rates. The resumption of trend is possible after reading into the fine-print of the central bank’s statement.
The company#39;s share in the joint venture is 40 percent (USD 44 million / Rs 295 crore).
Bajaj Finance has acquired additional 3.64 percent stake in the company stake in the company via encumbrance.
Sectors like banking, real estate and auto, among others, will be impacted the most from the rate hike as the cost of the products will be directly influenced due to increase in interest rate.
The company#39;s formulation manufacturing facility at Ghaziabad has received an EIR from USFDA.
Positional traders are advised to buy into this counter for a target of Rs 970 and a stop loss below Rs 900.
The stock is witnessing high volume along with the support placed at 20 and 50-days SMA.
Methylergonovine Maleate tablet is the generic equivalent of Novartis Pharmaceuticals Corporation#39;s Methergine.
The fund house has purchased 72,67,679 equity shares of the company at Rs 34.08 apiece through bulk deals on the National Stock Exchange.
The fund house sold 13,39,777 equity shares at Rs 73.43 per share through bulk deals on the National Stock Exchange.
The government does not want to cut excise duty and is looking at alternative means to reduce petrol and diesel prices.
Citing good capital position, better asset quality, as well as increasing share of low cost sourcing, among others, Sunidhi Securities has initiated coverage on Reliance Home Finance with a buy call