Stock In Action
Lupin Limited has informed The Bombay Stock Exchange Ltd and National Stock Exchange Ltd. on January 23, 2017, that it has received final approval from the US Food and Drug Administration.
The BSE Metal index is the biggest gainer on Monday, trading at 11,350.67, up by 205.15 points or 1.84 per cent. The index was seeing a constant gain in the first few hours of the trading session.
Reserve Bank of India (RBI), the country’s apex bank today announced revised portfolio for all the four deputy governors. In a statement, RBI announced the changes in the top level team.
Suzlon Energy has won 50.40 megawatt (MW) repeat order from a leading power utility. The company will install 24 units of S97 120m of all steel hybrid wind turbine generator with a rated capacity of 2.1 MW each.
The newly-listed private sector lender, Ratnakar Bank Limited (RBL bank) was trading high early morning due to the strong quarterly results posted by the bank post-market hours on Friday, January 20, 2017.
The newly elected 45th President of the United States, Donald Trump in his inauguration speech on January 21 made a lot of headwinds, which India should worry about.
The Indian markets will embrace the Bombay Stock Exchange (BSE) initial public offering (IPO) which opens for subscription on January 23. The markets would be directed by the Supreme Court hearing on a plea seeking postponement of Union Budget presentation ahead of the upcoming Assembly polls in five states.
On the daily chart, the Nifty has formed a long range bearish candle, which indicates bears are back in action with force. At present, the Nifty is trading around 61.8 per cent retracement level of down move from 8598.45 to low of 7894. The zone of 8310-8320 is a crucial support for the Nifty, and if it slides below this support zone, it will open up for further correction upto levels of 8270.
At 7:47 am, SGX Nifty Index shed 17 points to 8,355, indicating a soft start for Indian equities. Indian stocks, particularly those from the IT and the Pharmaceuticals space are likely to see wild swings with investors reacting to U.S. President Donald Trump’s speech on Friday.
The company reported a PAT figure of Rs. 23.25 crore which represents a sequential QoQ decline of 53.76 per cent and a YoY decline of 14.87 per cent.
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