DSIJ Mindshare

Strides Pharma Science Limited (Strides) announced on Tuesday that its step down subsidiary Strides Pharma Inc. (SPI) has acquired manufacturing facility in Florida, US from Micelle BioPharma, Inc.

It is important to see a follow-through day, and talking above the levels, the zone of 11,150-11,200 is likely to act as a stiff resistance as it is a confluence of 38.2 per cent retracement of the decline seen from July 5 and the last three week’s high placed at 11,181 and the 200-DMA (11,203). Stocks in news: Oberoi Realty, Power Grid Corporation, Dilip Buildcon, Premier Explosives, DHFL.

At the time of writing, SGX Nifty was trading up by 6 points at 11,116 level.

The stocks to watch out on August 28 include Premier Explosives, Oberoi Realty, Dilip Buildcon, Allahabad Bank and Sinclairs Hotels & Resorts.

Market participants paid no heed towards FICCI Economic Outlook Survey stating that India's economy will grow at a median rate of 6 per cent during the Q1FY20. The survey also pegged the annual median GDP growth forecast for 2019-20 at 6.9 per cent, with a minimum and maximum estimate of 6.7 per cent and 7.2 per cent, respectively.