Market at close: Benchmark indices registered strong recovery from the day’s low point with Nifty able to close above 10,700 level.
The Sensex was down 67.27 points at 35808.95, while Nifty was down 21.60 points at 10724.40. About 911 shares have advanced, 1581 shares declined, and 136 shares are unchanged.
BPCL, Power Grid, NTPC, GAIL and Bharti Infratel are the top gainers, while JSW Steel, Sun Pharma, Dr Reddy’s Labs, Indiabulls Hsg and Tata Steel are among major loser on the Nifty.
Among the sectoral indices pharma, metal, auto and FMCG witnessed selling pressure, while some buying was seen in energy and infra space.
Feb 15, 03:10 PM (IST)
USFDA completes inspection at Dishman Pharma plant: The USFDA inspection of company’s facility at Naroda, Ahmedabad, has been successfully completed on February 15, 2019. The inspection was concluded without any observations or Form 483’s, thus confirming that no concerns were discovered during the inspection.
Feb 15, 02:48 PM (IST)
Feb 15, 02:36 PM (IST)
Lupin launches Clobazam Oral Suspension: The company launched Clobazam Oral Suspension, 2.5mg/mL, having received an approval from the United States Food and Drug Administration (USFDA) earlier.
Feb 15, 02:19 PM (IST)
Market Updates: Benchmark indices recovered from day’s low with Nifty trading above 10,700 level.
At 14:18 hrs IST, the Sensex is down 121.50 points at 35754.72, while Nifty is down 37.40 points at 10708.60. About 811 shares have advanced, 1507 shares declined, and 125 shares are unchanged.
NTPC, Power Grid, ONGC, L&T Bharti Airtel are the top gainers on the Sensex.
Feb 15, 02:06 PM (IST)
Credit Suisse on Page Industries: The firm expect the downgrade cycle to be over and continue to like company’s structural story on market share gains and network expansion. Also, it upgrade to neutral and lift target to Rs 23,300 per share.
Feb 15, 01:45 PM (IST)
Gross inflows into MFs dropped in Jan; 10 stocks that fund houses bought & sold
The equity asset value of top 20 mutual funds dropped 1.6 percent month-on-month (MoM) to Rs 8.3 lakh crore in January, thanks to the fall in the stock market for the second consecutive month.
Feb 15, 01:32 PM (IST)
Feb 15, 01:12 PM (IST)
Gainers/Losers and Contributors
Feb 15, 12:56 PM (IST)
Buzzing: Share price of Divis Laboratories declined 6.5 percent intraday Friday after company confirmed about Income Tax raids conducted at company’s offices in Telengana & Andhra Pradesh.
Feb 15, 12:52 PM (IST)
Nestle Q4 net profit up 10%: Macquarie, CLSA, Credit Suisse retain outperform rating
Most global brokerage firms remained positive on Nestle India but some slashed their EPS estimates as well as target price to build in higher marketing spends in the fourth coming quarters.
Feb 15, 12:41 PM (IST)
Deutsche Bank on ONGC: Research house maintained buy but cut target to Rs 187 from Rs 216 per share. It cut FY19-FY20 earnings estimates by 4%.
Feb 15, 12:12 PM (IST)
Rupee Update: The Indian rupee is trading lower at 71.31 per dollar versus Thursday’s close 71.16.
Feb 15, 11:59 AM (IST)
Here are seven stocks that fell 30-50% from 52-week highs but posted strong earnings
Though market has been in a bearish mode lately, not all is lost yet.
Feb 15, 11:37 AM (IST)
Alembic Pharmaceuticals gets USFDA approval: Alembic Pharmaceuticals has received approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Moxifloxacin Ophthalmic Solution USP, 0.5%.
Feb 15, 11:27 AM (IST)
Tera Software jumps 15% on orders worth Rs 289 cr
Tera Software shares rallied 15.5 percent in morning on Friday on bagging projects and work orders worth Rs 289 crore in Andhra Pradesh on Thursday.
Feb 15, 11:06 AM (IST)
Jet Airways climbs 7%: Shares rallied 7.5 percent in morning on Friday after board approval for bank-led provisional resolution plan.
“The bank led provisional resolution plan proposes restructuring under the provisions of the ‘RBI Circular’ in order to meet a funding gap of nearly Rs 8,500 crore which is to be met by an appropriate mix of equity infusion, debt restructuring, sale/ sale and lease back/ refinancing of aircraft, among other things,” the airline company said in its filing.
Feb 15, 10:55 AM (IST)
Pulwama terror attack LIVE updates: Govt withdraws Most Favoured Nation status to Pakistan, says Jaitley
Banned terrorist organisation, allegedly backed by Pakistan, Jaish-e-Mohammed (JeM) has claimed responsibility
Feb 15, 10:52 AM (IST)
Feb 15, 10:39 AM (IST)
Market Update: Benchmark indices are trading lower after a flat start on Friday morning with Nifty slipped below 10,700 level.
The Sensex is down 162.93 points at 35713.29, while Nifty is down 61.80 points at 10684.20. About 746 shares have advanced, 1110 shares declined, and 103 shares are unchanged.
Dr Reddy’s Labs, Sun Pharma, JSW Steel, Tata Motors and Hero Motocorp are the top losers on the Nifty.
Feb 15, 10:33 AM (IST)
Jefferies on Dr Reddy’s: Research house retained underperform rating with target at Rs 2,180 per share. Company’s formulations manufacturing plant – 3 at Bachupally, Hyderabad had been inspected by the USFDA. It has been issued a Form 483 with 11 observations, out of which four are repeat observations.
The observations are around lack of thorough investigations, written records lacking details, employees not being trained and lack of infra.
The clearance for Bachupally unit by USFDA could take time and believes that observations related to facility structure are negative, it added.
Feb 15, 10:20 AM (IST)
Buzzing Stock Eveready Industries slipped 4 percent in morning trade after the company reported a multi-fold decline in standalone net profit to Rs 19.71 lakh in the third quarter ended December 31 hit by cost of separation workers at Chennai plant.
The company had posted standalone net profit of Rs 20.94 crore in the same quarter last fiscal, Eveready Industries said in a regulatory filing.
Total income during the period under review stood at Rs 387.81 crore as against Rs 373.8 crore in the year-ago quarter, it added.
Feb 15, 10:09 AM (IST)