Indian equity markets traded firm in today's session despite negative global cues. The Indian indices began the day's proceedings on a firm note and the afternoon session saw them inching upwards as buying intensified across index heavyweights. The BSE Sensex closed higher by 358 points while NSE-Nifty closed higher by 115 points. BSE Mid Cap and BSE Small Cap outperformed today, closing 1.2% and 1.4% higher respectively. Barring realty, all other BSE sectoral indices were trading in the green. Among them, auto index gained the most, followed by infrastructure and healthcare.
Asian markets finished mixed. The Nikkei 225 gained 0.06%, while the Shanghai Composite led the Hang Seng lower. They fell 0.18% and 0.17% respectively. European stocks drop as Greece worries persist. The rupee was trading strong by at 63.76 in the post noon session.
As per a leading financial daily, the US subsidiary of Glenmark Pharmaceuticals, Glenmark Pharmaceuticals Inc. has been granted final approval by the United States Food & Drug Administration (U.S. FDA) for Desmopressin Acetate. The tablets are used in the treatment of diabetes. Desmopressin Acetate is sold under the trademark DDAVP. Reportedly, sales data for the 12 month period ending March 2015, the DDAVP market achieved annual sales of approximately US$ 72.1 million. Glenmark's current portfolio consists of 97 products authorized for distribution in the U.S. marketplace and 68 ANDA's pending approval with the USFDA. The stock of Glenmark ended up by 2.34% today.
According to a leading financial daily, Crompton Greaves has received non-binding proposals from international entities for acquiring the company's European, North American and Indonesian power divisions. It has also received offers for the Canadian power and the American transportation automation business. In April, Crompton Greaves' consumer electrical business was sold to Advent International Corp and Singapore's Temasek Holdings for Rs 20 bn. Reportedly, Avantha Holdings, promoter of Crompton Greaves has stated that Crompton Greaves Consumer Electricals Ltd (CGCEL) will be demerged into a standalone company and listed on the stock exchanges. Shares of Crompton Greaves ended the day in green (up 1.81%) at the BSE.