22 June 2011

Stocks in news today


Sun Pharma announces USFDA approval for generic Imitrex® injection
  • First ANDA approval for a Sumatriptan AutoInjector 
  • Annual sale for Sumatriptan Succinate Injections in the US is approximately USD 190 million.

Tata to challenge Bill scrapping Singur deal
Tata Motors at this point of time we have no guidance on this. 

Anna to fast from Aug 16


After acrimonious meetings, the last two meetings were cordial and both sides "agreed to disagree".
Law Minister M Veerappa Moily said the mandate of the committee was to prepare a Lokpal Bill and not to rewrite Constitution.
While government claimed that discussions with civil society have helped to bring out a "strong and robust" bill, the Hazare camp expressed "deep disappointment" with the government draft.
"The government has no intention to bring a strong Lokpal Bill. It is misleading the people. Now, there is no option but to go on fast from August 16 as announced earlier," Hazare told reporters after the meeting.
"People will teach them (government) a lesson," he said adding his agitation will be against the government and not Parliament as contended by Union Minister Salman Khurshid.
The Hazare camp said major differences persisted with government rejecting all their major demands like inclusion of Prime Minister, higher judiciary, MPs'' acts inside Parliament under the ambit of Lokpal and procedure for selection and removal of the ombudsman.
The various proposals in the government draft include powers to take suo motu cognizance of act of corruption, powers to investigate cases against officials above Joint Secretary rank, recommend transfer and suspension during the course of probe and provision for time-bound trial by special courts.
The government draft does away with provision for securing sanction for prosecuting a public servant.

Nifty struggles to hold 5300


Indian equity benchmarks started the trade on a positive note following strong global cues, tracking winning of confidence vote by Greek PM. But indices have not been holding early gains since yesterday - they have been consolidating after a big fall on Monday. The Nifty has been struggling to hold the 5300 level.
IDFC, Sesa Goa, Tata Steel, Reliance Communications, Reliance Infrastructure, ICICI Bank, Infosys, Tata Motors, ONGC, L&T and Reliance Industries were pushing the markets higher in early trade.
However, HDFC, HUL, JSPL, BHEL and BPCL were on sellers' radar.
SBI was down a bit after SBI Chairman said FY12 credit growth was expected to be 16-19% as against 19-20% seen before. "We are witnessing some slowdown in corporate lending," he said.
At 9:20, the NSE Nifty was trading at 5,298, up 23 points and the BSE Sensex went up 69 points to 17,629.

21 June 2011

Sensex Erases gains


Equity benchmarks shaved off some gains on the back of profit booking at higher levels. The Nifty could not able to hold the 5300 mark - it was gyrating around the same level. Heavyweights like ONGC, SBI, ICICI Bank and Bharti Airtel came off their day's high.
BSE Sensex was trading at 17,633, up 126 points and NSE Nifty gained 40 points at 5,298.

Nifty bounces back


Indian equity benchmarks bounced back on Tuesday morning - theNifty was inching towards the 5300 level, on the back of stability in global market and after clarification from government on Indo-Mauritius tax treaty. Market had fallen for previous four sessions.
Reliance Communications, Reliance Infrastructure, Reliance Industries, Bharti Airtel, Cairn India, Tata Motors, Sesa Goa, Sterlite Industries, SAIL, DLF and L&T were leading the markets higher.
However, ONGC fell 2%. Cipla, Ranbaxy Labs, Grasim and Ambuja Cements too were on sellers' radar.
At 9:20, the BSE Sensex was trading at 17,620, up 114 points and the 50-share NSE Nifty went up 34 points to 5,292 amid volatility.
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