Dilip Buildcon Limited informed the bourses on Thursday that its joint venture with Hindustan Construction Company (DBL-HCC) has received a letter of acceptance (LOA) from Narmada Water Resources, Water Supply and Kalpasar Department (Water Resources) for an engineering, procurement and construction (EPC) project in the state of Gujarat.

Speciality Chemicals manufacturer, Rossari Biotech Limited, made a strong debut on the stock exchanges on Thursday, as the stock listed at Rs 670 on BSE, with a 57.5 per cent premium to its issue price of Rs 425 apiece.

The company stands out as one of the leading pharma companies in the world. Its core fundamental growth is driven by 294 approved & filed 390 abbreviated new drug applications (ANDAs).

The market opened flat on July 23, 2020. 

The market opened flat on July 23, 2020, overall volumes in futures & options currently stand at 3,23,91,894 crore contracts with a turnover of Rs. 19,98,781.81 crore.

The market opened flat on July 23, 2020, overall volumes in futures & options currently stand at 3,23,91,894 crore contracts with a turnover of Rs. 19,98,781.81 crore.

On the liquidity front, the company’s working capital cycle has also been affected by rising inventory days from 79 in FY17 to 85 in FY18 and 91 in FY19. The company’s liquidity has been harshly affected due to lockdown measures. It has applied to the lenders for a moratorium as per the RBI package as well as to the bankers for enhancement in working capital limits.

The bulls on Dalal Street seem exhausted in the last trading session and as result Indian markets halted its five-day bull run.  As bulls managed to recoup some of the losses in the last leg of trade, the correction was not too acute. But the signs of exhaustion were clearly visible. The Nifty faced its real resistance around 11,200-11,230 levels.

The level of 11,050 is likely to act as an immediate support level. Any move below this level would open gates for further correction of a minimum 70-100 point. On the way down, the level of 10,863, which is 200-DMA, would act as major support. Stocks in news: Wipro, Future Consumer, Glenmark.

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