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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
Indian stock markets recovered initial losses and are now trading flat. Among sectoral indices, realty and banking stocks led the gains while IT and energy were on the losing side.
The BSE-Sensex is trading down by 17 points and NSE-Nifty is trading flat. BSE Mid Cap and BSE Small Cap indices are trading down by 0.6% each. The rupee is trading at 51.64 to the US dollar.
Automobile stocks are trading in the green led by Maharashtra Scooters and Tube Investments. According to a leading financial daily, Mahindra & Mahindra is looking at international acquisitions. The company wants foreign partners to enhance its agricultural vehicles and agri-business services products. The automaker has been expanding into agricultural services that include irrigation, horticulture and farm technology. The company even launched an innovation centre last week in Chennai by the name of Mahindra Research Valley. It is interesting to note here that Mahindra had recently overtaken John Deere to become the world's largest tractor maker by volume. The automobile company is open to acquiring partners in all continents.
Indian pharma stocks are trading strong led by Aurobindo Pharma and Fresenius Kabi Onco. According to a leading financial daily, Piramal Healthcare has bought research and development portfolio from Bayer AG. With this, Piramal now has access to the Alzheimer drug Florbetaben. Florbetaben is in final stage of clinical trial. It is in race with other Alzheimer drugs from companies like Eli Lilly and Co. and General Electric Co. The market for this drug is estimated at anywhere between US$ 1 bn - US$ 5 bn. Florbetaben as per Piramal would detect symptoms in probable sufferers of this disease and thus help in early detection and treatment of Alzheimer.
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