A gap up opening expected as SGX Nifty is trading up by 45 points. Market may trade positively today and Nifty May hit 11430 level of an immediate resistance.
As mentioned in previous blog that we expecting a bounce-back, Nifty bounced from intra-day low of 11250 to end at 11370.
Nifty50 became volatile after gap up opening on Wednesday. But on reports that Prime Minister may hold economic review meeting to consider fiscal or monetary measures on Saturday, market started gaining.
🎯 News & Impact 🎯
Result Today : REC
🎯 Cadila Healthcare :
Zydus receives final approval from the USFDA for Risedronate Sodium Delayed-release tablets.
Positive for the stock. 👍
🎯 Lupin :
Company receives USFDA approval for generic Atovaquone Oral Solution USP.
Positive for the stock. 👍
🎯 Glenmark :
Company's development of immune-oncology drugs received a boost, as the U.S. based-Mitra Biotech announced its partnership with the pharma company.
Positive for the stock. 👍
🎯 Sun Pharma & SPARC :
Companies announce USFDA approval of XELPROS to treat open-angle Glaucoma or Ocular Hypertension.
Positive for the stock. 👍
🎯 Jain Irrigation Systems’ U.S. arm acquired irrigation technology company ‘ETwater’. The company said that its position in U.S. smart agriculture market will be fortified and its operations will scale up, post this acquisition.
Positive for the stock. 👍
🎯 Torrent Pharmaceuticals :
The U.S. FDA testing of products showed an additional unexpected impurity in three lots of earlier recalled Valsartan drug products.
Negative for the stock. 👎
🎯 Tata Motors :
Fitch revised Tata Motors’ JLR outlook to negative from stable.
Negative for the stock. 👎
🎯 Dr Reddy :
Company launches Neostigmine Methylsulfate Injection, USP in the US market.
🎯 NBCC :
Company to buy HSCC for Rs.285 cr.
🎯 Vedanta :
Vedanta announced hydrocarbon Discovery in well A3-2 within its operated block KG-OSN-2009/3 within Krishna-Godavari Basin, East Coast of India.
🎯 HCL Tech :
Company offered to buyback 3.63 crore shares (representing 2.61 % of its equity shares) at a price of Rs.1,100 per share.
🎯 Redigton India :
Subsidiary ProConnect Supply Chain Solutions increased its shareholding in Rajprotim Supply Chain Solutions from 76 % to 88 %.
🎯 Fortis :
Shivinder Mohan Singh withdraws NCLT petition against elder brother Malvinder Singh.
🎯 Voltas :
Company formed a Joint Venture with Arcelik. JV’s new brand Voltas Beko plans to launch over 100 units of refrigerators, washing machines and microwaves over the next three months.
🎯 Engineers India :
Company to acquire 100 % stake from Government of India in Projects and Development India Ltd.
Edited by Sharp.
© 2018 Sharp Investment & Financial Advisers
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