Benchmark indices were ruling nearly 2 per cent higher in Friday's noon deals, on the back of across-the-board gains.
The S&P BSE Sensex rose 650 points to 37,200 levels, and the Nifty50 index was testing the 11,000-mark. HCL Tech (up 5%) was the top Sensex gainer, followed by Bharti Airtel (4%), TCS and Tech Mahindra (both up 3%).
All the Nifty sectoral indices were trading in the green, led by Nifty IT and FMCG indexes, both up 1 per cent, each.
In the broader market, the S&P BSE MidCap and SmallCap indexes were also trading 1 per cent higher, each.a
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01:15 PM
European indices sluggish at open
01:14 PM
Bihar Elections 2020 :: Results on Nov 10
>> Phase 1: Oct 28
>> Phase 2: Nov 3
>> Phase 3: Nov 7
01:13 PM
Bihar Elections 2020 :: Bihar polls in three phases from Oct 28
>> Maximum number of electors at one polling station reduced to 1000 from 1500
>> Polling time has been increased by an hour (7 am to 6 pm)
01:10 PM
Even as Covid-19 rages, Indian economy's animal spirits are stabilising
Five of the eight high-frequency indicators compiled by Bloomberg News gained last month, while two were unchanged and one deteriorated. That kept the needle on a dial measuring so-called animal spirits steady at 4 -- a level arrived at by using the three-month weighted average to smooth out volatility in the single-month readings. READ MORE
01:01 PM
NEWS ALERT :: RBI grants in-principle nod to set-up and operate Bharat Bill Payment Operating Unit to Vakrangee
Click here for details
12:57 PM
ICICI Securities on Suven Pharma
Suven Pharma has turned ex-bonus from September 25, 2020, pursuant to the board approval granted for the issue of bonus shares in its meeting held on September 16, 2020. The record date for the same has been fixed as September 28, 2020. The board has recommended the issue of bonus shares in proportion of one bonus share (face value of Re 1 each) for every equity share held (i.e. 1:1). Consequently, the share price has changed to Rs 369/share from Rs 738/share. Accordingly, our target price has also been revised to Rs 385/share from Rs 770/share earlier. After the recent run-up, the stock offers limited upside from here on. We change the recommendation from BUY to HOLD. Our target price is based on 22x FY22E EPS (revised) of Rs 17.5. We will revisit the target price for a possible change in the next update.
12:52 PM
Zydus Cadila gets USFDA nod for multiple sclerosis treatment drug
Zydus Cadila has received final approval from the United States Food and Drug Administration (USFDA) to market Dimethyl Fumarate delayed release capsules, (Tecfidera)in the strengths of 120 mg and 240 mg, Zydus Cadila, part of Cadila Healthcare group, said in a regulatory filing. READ MORE
12:43 PM
Granules India up 5% on USFDA approval for generic Aleve PM tablets
Shares of Granules India gained 5 per cent at Rs 377 on the BSE on Friday after US health regulator USFDA gave its approval for Naproxen Sodium and Diphenhydramine Hydrochloride Tablets, 220 mg/25 mg (OTC). The company today announced that the US Food & Drug Administration (US FDA) has approved its Abbreviated New Drug Application (ANDA) for Naproxen Sodium and Diphenhydramine Hydrochloride Tablets, 220 mg/25 mg (OTC), generic equivalent of Aleve PM Tablets, 220 mg/25 mg, of Bayer HealthCare LLC. READ MORE
pharmacy, drugs, medicine, pharma companies, pharmaceuticals, vaccine, coronavirus, covid, testing
12:37 PM
BROKERAGE VIEW | Emkay Global on Indian IT sector
We see a limited read-through from Accenture's results for Indian technology companies in general due to business mix differences (Indian peers’ exposure to the Consulting business is much lower than that of ~55% for ACN). ACN's Q4 performance and guidance came lower than expectations largely due to the weakness in
Consulting. Sustained healthy momentum in outsourcing business revenue and booking augurs well for Indian peers. Nifty IT index gained ~30%/~60%/~20% in last 3M/6M/CYTD and current valuations largely capture the improving demand environment, in our view. Uncertainties around the outcome of US elections, healthcare crisis and slowing global growth will keep the optimism in check and may weigh on stocks.
12:29 PM
Wrong idea in market that we are not professionally run: Top UTI AMC exec
Thirteen years after it was first mooted, UTI AMC is set to hit the market with an initial public offering of Rs 2,160 crore that will enable its five shareholders to offload 30.75 per cent, valuing the AMC at over Rs 7,000 crore. READ MORE
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