Market Live: Sensex trades around 100 points higher, Nifty hovers near 10,750; PC Jeweller tanks 14%. Among stocks, ICICI Bank is trading higher by around 5 percent, while Lupin has staged a recovery from Monday’s low points. Other gainers include Titan, ITC, Tata Steel and Yes Bank.
Among stocks, ICICI Bank is trading higher by around 5 percent, while Lupin has staged a recovery from Monday’s low points. Other gainers include Titan, ITC, Tata Steel and Yes Bank.
Buzzing Stock: Shares of Granules India gained 2 percent in the early trade on Tuesday as the company received a US FDA nod for Methocarbamol tablets.
Buzzing Stock: Shares of Granules India gained 2 percent in the early trade on Tuesday as the company received a US FDA nod for Methocarbamol tablets.
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The US Food & Drug Administration (USFDA) approved the abbreviated new drug application (ANDA) filed by company for Methocarbamol tablet 500 mg and 750 mg.
The approved ANDA is the bioequivalent and therapeutically equivalent to reference listed drug (RLD) of Robaxin 500 mg and 750 mg of Auxilium Pharmaceuticals, LLC.
Shares of PNB Housing Finance fell over 7.5 percent in morning trade as investors reacted to a block deal. Around 2.6 percent equity has exchanged hands in a block deal.
According to a report in The Times of India Quality Investment Holdings, an arm of the PE giant Carlyle, is said to be selling 80 lakh shares of the firm. This amounts 4.8% of its equity, for around Rs 1,040 crore with the help of block deals.
The report further quoted the term sheet, which stated that it has offered the take at Rs 1,280 apiece, a discount of 7 percent to the stock’s previous close at Rs 1,374.
Shares have begun the day on a positive note, with the Nifty trading above 10,750-mark. The Sensex is trading above 35,200-levels.
The Sensex is up 58.73 points at 35266.87, while the Nifty is up 12.70 points at 10728.20. The market breadth is positive as 532 shares advanced, against a decline of 205 shares, while 59 shares are unchanged.
Among stocks, ICICI Bank is trading higher by around 5 percent, while Lupin has staged a recovery from Monday’s low points. Other gainers include Titan, ITC, Tata Steel and Yes Bank. On the losing side, Infosys and other IT stocks are trading lower, largely on the back of a rub-off of Cognizant’s earnings trends. Oil stocks, IOC and BPCL are trading lower on the back of higher oil prices.
On a sectoral basis, financials and pharmaceuticals are trading in the green. The Nifty IT index is down around one third of a percent. Midcaps, meanwhile, are trading flat.
Shares of PNB Housing Finance fell over 7.5 percent in morning trade as investors reacted to a block deal. Around 2.6 percent equity has exchanged hands in a block deal.
According to a report in The Times of India Quality Investment Holdings, an arm of the PE giant Carlyle, is said to be selling 80 lakh shares of the firm. This amounts 4.8% of its equity, for around Rs 1,040 crore with the help of block deals.
The report further quoted the term sheet, which stated that it has offered the take at Rs 1,280 apiece, a discount of 7 percent to the stock’s previous close at Rs 1,374.
Shares have begun the day on a positive note, with the Nifty trading above 10,750-mark. The Sensex is trading above 35,200-levels.
The Sensex is up 58.73 points at 35266.87, while the Nifty is up 12.70 points at 10728.20. The market breadth is positive as 532 shares advanced, against a decline of 205 shares, while 59 shares are unchanged.
Among stocks, ICICI Bank is trading higher by around 5 percent, while Lupin has staged a recovery from Monday’s low points. Other gainers include Titan, ITC, Tata Steel and Yes Bank. On the losing side, Infosys and other IT stocks are trading lower, largely on the back of a rub-off of Cognizant’s earnings trends. Oil stocks, IOC and BPCL are trading lower on the back of higher oil prices.
On a sectoral basis, financials and pharmaceuticals are trading in the green. The Nifty IT index is down around one third of a percent. Midcaps, meanwhile, are trading flat.
ICICI Bank, Lupin and Dr Reddy's Laboratories are the top gainers, while IndusInd Bank and Infosys have lost the most.
Pre-opening rates have kicked in for Tuesday. Trends indicate that it could be a good start to the market. The Nifty is above 10,750-mark, while the Sensex is up over 150 points.
Pre-opening rates have kicked in for Tuesday. Trends indicate that it could be a good start to the market. The Nifty is above 10,750-mark, while the Sensex is up over 150 points.
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