After trading flat, Indian share markets fell in the negative territory in the post-noon trading session. Sectoral indices are trading mixed with oil and gas and metal stocks being the biggest losers whereas IT and auto stocks are leading the gains.
Majority of the pharma stocks are trading in the red with Strides Acrolab and J B Chemicals being the biggest losers. However, Natco Pharma and Cadila Healthcare are among the few stocks trading in the green. As per a leading financial daily, Cipla has entered into an agreement with Hyderabad based company Hetero to launch a biosimilar version of Darbepoetin alfa. The product to be launched under the brand name 'Actorise' is indicated for the treatment of anaemia caused due to chronic kidney disease. The company had launched its first biosimilar product 'Etacept' last year in collaboration with a partner from China. Cipla's stock is currently trading down marginally.
Most of the auto stocks are trading in the green with Maharashtra Scooters and Tata Motors being among the major gainers. But Maruti Suzuki and Force Motors are among the few stocks trading in the red. As per a leading financial daily, Maruti Suzuki commissioned its 1 MW photovoltaic solar power plant at its Manesar facility. The facility has been built at a cost of Rs 103 m and will enable the company to offset 1,200 tonnes of carbon dioxide emissions every year. The power generated from the solar plant is synchronized with the natural gas-based captive power plant and will complement the power requirement in the facility. Maruti Suzuki's stock is currently trading down by 2.2%.