Market fails to hold recovery, slips for 3rd day in a row##Market fails to hold recovery, slips for 3rd day in a row

Dec 24, 2018 4:03 PM

Closing Bell: Sensex, Nifty fall sharply ahead of Christmas break##Closing Bell: Sensex, Nifty fall sharply ahead of Christmas break

The Nifty50 ended below 10,700, slipping more than 90 points, or 0.84 percent, to settle at 10,663. The Sensex plunged 272 points, or 0.76 percent, to close at 35,470. Wipro and TCS were the top gainers, while Hero MotoCorp, Bajaj Auto, and JSW Steel lost the most. The market will be shut on Tuesday on account of Christmas.

Dec 24, 2018 3:53 PM

Jubilant Food tanks on worries over online competition##Jubilant Food tanks on worries over online competition

Shares of Jubilant Foodworks plunged 8% today after brokerage firm JP Morgan raised concern over high competition from online food aggregator Swiggy. The brokerage is of the view that Swiggy's recent $1 billion fund-raising drive will accelerate the footprint of online delivery in India. JP Morgan is of the view that in order to stave off competition from Swiggy, Jubilant Foodworks may have to push up its expenditure on marketing. At 3.08 am, shares of Jubilant Foodworks were down 6.9 percent at Rs 1,223.60.

Dec 24, 2018 3:28 PM

European markets weak on global growth worries##European markets weak on global growth worries

European indices were down on concerns over slowing economic growth. Investor sentiment was weak also because of partial shutdown of the US government. Shares of retail companies and banks were the biggest losers. France's CAC 40 was down 0.8 percent, while Germany's DAX was up 0.2 percent.

Dec 24, 2018 3:14 PM

Zydus Cadila gets USFDA nod for 2 drugs##Zydus Cadila gets USFDA nod for 2 drugs

Zydus Cadila has received final approval from the US health regulator to market Doxycycline Hyclate delayed-release tablets, used to treat bacterial infections. Zydus Cadila has received the final approval from the United States Food and Drug Administration (USFDA) to market the drug in the strengths of 75 mg, 100 mg and 150 mg, the company said in a BSE filing. Shares of Cadila Healthcare, the listed entity of the group, were trading 0.13 per cent lower at Rs 342.35 per scrip on the NSE.

Dec 24, 2018 2:56 PM

Sensex heatmap at 2.45 pm: TCS, M&M, Infosys, ITC gain, Hero MotoCorp, Bajaj Auto top losers##Sensex heatmap at 2.45 pm: TCS, M&M, Infosys, ITC gain, Hero MotoCorp, Bajaj Auto top losers

Dec 24, 2018 2:45 PM

Market update: Nifty falls below 10,700, Sensex dips over 200 points##Market update: Nifty falls below 10,700, Sensex dips over 200 points

The Sensex plunged 217 points, or 0.61 percent, to trade at 35,524 at 2.40 pm, while the slipped below 10,700, trading at 0,684, down by nearly 70 points, or 0.65 percent. HDFC twins, Reliance Industries, L&T, Hero MotoCorp, Asian Paints, HUL, dragged indexes, while TCS, Infosys, ITC provided support to the bulls.

Dec 24, 2018 2:41 PM

Aurobindo Pharma gets USFDA nod for anaesthesia drug##Aurobindo Pharma gets USFDA nod for anaesthesia drug

Aurobindo Pharma on Monday said it has received final approval from the US health regulator to market anaesthesia drug Vecuronium Bromide Injection. The company has received final approval from the US Food and Drug Administration (USFDA) to manufacture and market Vecuronium Bromide Injection in the strengths of 10mg and 20mg, Aurobindo Pharma said in a BSE filing. The approved product is a generic equivalent of Organon's Norcuron Injection. Aurobindo now has a total of 397 ANDA approvals (369 final approvals including 20 from Aurolife Pharma LLC and 28 tentative approvals) from USFDA. Shares quoted at Rs 721.60, mildly up 0.13 percent on the NSE.

Dec 24, 2018 1:42 PM

Bandhan Bank reverses losses to trade at day's high##Bandhan Bank reverses losses to trade at day's high

Dec 24, 2018 1:37 PM

NDTV extends gains on Rs 3 billion deal with Taboola##NDTV extends gains on Rs 3 billion deal with Taboola

Shares of New Delhi Television extended gains and traded 10 percent higher after its digital arm NDTV Convergence signed a five-year deal with Taboola, a digital content discovery platform. The company expects that the deal will bring more than Rs 3 billion in revenues from web traffic. Under the deal, content produced by NDTV Convergence, which manages all the websites of NDTV, will be offered exclusively to Taboola. At 1.10 pm, shares of the company traded 7 percent higher at Rs 41.90.

Dec 24, 2018 1:29 PM

Market update: Sensex, Nifty reduce losses, midcaps mildly up##Market update: Sensex, Nifty reduce losses, midcaps mildly up

The Sensex traded at 35,733, down by 9 points, or 0.03 percent, while the Nifty was lower by 10 points, or 0.09 percent, to trade at 10,743 at 1 pm. Broader markets turned positive although both the Nifty MidCap and BSE MidCap were mildlly up by 0.01 percent and 0.03 percent, respectively.

Dec 24, 2018 1:00 PM

Dr Reddy's launches anti-coagulant drug in US market##Dr Reddy's launches anti-coagulant drug in US market

Drug major Dr Reddy's Laboratories on Monday announced the launch of anti-coagulant drug Aspirin and extended-release dipyridamole capsules in the US market. The product is a therapeutic equivalent to generic version of Aggrenox (aspirin and extended-release dipyridamole) capsules, the company said in a BSE filing. Quoting IMS Health data, Dr Reddy's Laboratories said the Aggrenox brand and generic had US sales of approximately $182 million for the most recent 12 months ending in October 2018. Dr Reddy's Aspirin and extended-release Dipyridamole capsules is available in 25 mg/200 mg strength with 60 count bottle size. Aggrenox is a trademark of Boehringer lngelheim. Stock of Dr Reddy's Laboratories was trading 0.40 percent lower at Rs 2,597.70 apiece on NSE at 12.45 pm.

Dec 24, 2018 12:47 PM

VA Tech Wabag down after Goldman Sachs sells 1.6% stake##VA Tech Wabag down after Goldman Sachs sells 1.6% stake

Shares of VA Tech Wabag fell 4 percent after Goldman Sachs India Fund sold 1.58 percent stake, or 867,665 shares, in the company at Rs 270.1 apiece. As of September 30, Goldman Sachs India held 1.9 percent stake. At 12.03 pm, shares of the company traded 2.8 percent lower at Rs 262.10. So far in 2018, the stock has lost as much as 57 percent.

Dec 24, 2018 12:27 PM

Hero MotoCorp falls over 3% after Goldman Sachs downgrade##Hero MotoCorp falls over 3% after Goldman Sachs downgrade

Hero MotoCorp shares fell 3.4 percent in morning on Monday after global brokerage house Goldman Sachs downgraded the stock to sell from neutral. The research firm also slashed its target price sharply by 12.66 percent from Rs 3,175 to Rs 2,773, implying 16.5 percent potential downside from December 21 closing levels. Goldman Sachs believes near term volumes & results will be muted.

Dec 24, 2018 11:52 AM

Auto companies fall, CLSA says EPS view to be cut for sector##Auto companies fall, CLSA says EPS view to be cut for sector

Shares of automobile companies fell as brokerage CLSA Asia Pacific Markets has reportedly said consensus earnings per share estimates for most automobile makers will be cut as domestic demand is slowing. The brokerage said truck and passenger vehicle sales are slowing while two-wheelers are faring relatively better. Shares of Hero MotoCorp, Bajaj Auto, Eicher Motors, Tata Motors, TVS Motor Co and Ashok Leyland were down 1-3 percent, while the Nifty Auto index fell 1 percent.

Dec 24, 2018 11:41 AM

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