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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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No Respite for Indian Indices
Thu, 7 Jan 01:30 pm

Following a negative trend since the opening of the trading day, the Indian indices have continued to remain under pressure in the post noon trading session. Sectoral indices are trading on a negative note with stocks from the capital goods, realty and auto sectors bearing the maximum brunt.

The BSE Sensex is trading lower by 463 (down 1.8%) and the NSE Nifty is trading down by 144 points (down 1.8%). The BSE Mid Cap index is trading lower by 2.2% while the BSE Small Cap index is trading down by 2.7%. Gold prices, per 10 grams, are trading at Rs 25,895 levels. Silver price, per kilogram, is trading at Rs 33,936 levels. Crude oil is trading at Rs 2,190 per barrel. The rupee is trading at 66.72 to the US$.

Stocks in the telecom space are trading on a negative note with ITI and MTNL leading the losers. As per an article in Economic Times, Telecom Regulatory Authority of India (TRAI) has pointed out the lack of investment by telecom companies in network infrastructure as the main reason for the call drops in the company. In an affidavit, the regulator stated that major companies including Vodafone, Bharti Airtel and Reliance Com have failed to keep the investments commensurate with the pace of increase in usage and the growth in number of their subscribers.

Last week, TRAI had reminded telecom operators to comply with its order to pay consumers Rs 1 per call dropped on their networks, subject to a cap of Rs 3 a day from January 1. In response to that, the carriers maintained they would wait for court directions before paying up.

Telecom companies are contending that compensation for call drops may lead to an additional burden of around Rs 540 billion on their books annually. However, refuting their claim, TRAI said that the total financial implication on service providers was likely to be not more than Rs 8 billion per annum.

Already burdened with significant investments in the 3G and 4G spectrums, telecos may find it hard to bear the additional investments involved.

Meanwhile, Cipla has inked a pact with US-based BioQ Pharma for registration and commercialization of BioQ Pharma's Ropivacaine infusion system in India. Ropivacaine infusion system is used in treating post-operative pain.

The management of Cipla, regarding this strategic distribution, said that this innovative product represents a significant evolution in enhancing the delivery of infusions and managing post surgical pain.

On a separate note, the company had recently launched generic drug ledipasvir-sofosbuvir in India under the brand name Hepcvir-L. This was noted as the first once-a-day, fixed-dose oral combination therapy that has been approved for chronic hepatitis C genotype 1 patients.

Cipla focuses on development of new formulations and has a wide range of pharmaceutical products. It offers prescription drugs, bulk drugs, animal products and pesticides. The company has a healthy portfolio in the respiratory space, which stands as an important growth driver. Also, the company is gradually entering various global markets, and has launched some inhaler based drugs in Europe and emerging markets. Added to that, there are other opportunities and milestones for the company in the long term. To know them, you can read our analysis report on the company here (subscription required).

Presently the stock of Cipla is trading down by 1.5%.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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S&P BSE SENSEX


Apr 28, 2017 03:27 PM

MARKET STATS