Market may open on a positive note as SGX Nifty is trading up by 25 points.
Yesterday's doji formation with a gap on daily charts for Nifty Fut may confuse traders. Nifty may witness a profit booking at higher levels. 10490 can be a good support.
🎯 News & Impact 🎯
🎯 Cipla, Dr Reddy :
Five pharmaceutical companies including Cipla, Hetero and Dr Reddy's Laboratories are under the Indian regulator's scanner for allegedly overcharging for a new Hepatitis C combination which they launched without waiting for price approval. The National Pharmaceutical Pricing Authority has sent show-cause notices to these companies alleging overcharging for the combination drug.
Cautious over the stocks.
🎯 Eveready Industries :
Eveready Industries India has entered the confectionary market through the launch of its brand 'Jollies.
🎯 Videocon :
SBI initiated bankruptcy proceedings against Videocon Industries.
🎯 Max :
Radiant Life Care is in preliminary discussions to buy a strategic stake in Max Healthcare.
🎯 GVK :
GVK signs concession agreement with Cidco for Navi Mumbai airport.
🎯 Orchid Pharma :
Company gets EIR from USFDA for its Chennai facility.
🎯 Vijaya Bank :
LIC cuts stake in the firm by 2.03% to 10.14%.
🎯 NMDC :
Government to divest 1.5% in NMDC on Tuesday at Rs.153.5 per share.
🎯 Sun Pharma :
The wholly owned subsidiaries of the Company has increased its shareholding in Ranbaxy Malaysia Sdn Bhd, Malaysia, by way of further purchase of 508313 shares of face value MYR 1 each.
🎯 Nalco :
Company eyes Rs.31,000 crore turnover by 2032.
🎯 Siemens :
Company bags contract worth Rs.579 cr for Gujarat Metro Link.
🎯 Adani Ports :
Adani ports and Special Economic Zone Limited (APSEZ) announced the addition of two new 8000 m3 Trailing Suction Hopper Dredgers (TSHDs).
🎯 ONGC :
Mittal Energy, trading arm to shut operations.
🎯 JSW Infrastructure-SREI :
JSW INFRASTRUCTURE-SREI to buy Sterling Port in Dahej.
🎯 SJVN :
SJVN to buyback 20.6 crore shares at Rs.38.
🎯 Electrosteel :
Vedanta submitted the highest bid for bankrupt Electrosteel Steels.
🎯 Cigarette stocks :
In a setback to the cigarette and tobacco industry, the Supreme Court on Monday stayed a Karnataka High Court order quashing 85% pictorial warnings on packs containing such products.
Edited by Sharp.
© Sharp Investment & Financial Advisers
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