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Oil & Gas Stocks Head the Gains
Mon, 8 Aug 01:30 pm

Indian indices continue to trade firm during the post noon trading session with investors indulging in some buying at several counters. Barring capital goods, major sectoral indices are trading in the green with realty, oil & gas leading the gains.

The BSE Sensex is trading higher by 91 points (up 0.3%) and the NSE Nifty is trading higher by 24 points (up 0.3%). The BSE Mid Cap index & BSE Small Cap index are both trading up 0.7%. Gold prices, per 10 grams, are trading at Rs 31,093 levels. Silver price, per kilogram is trading at Rs 46,017 levels. Crude oil is trading at Rs 2,826 per barrel. The rupee is trading at 66.75 to the US$.

As per an article in The Economic Times, The global enabler of the Internet of Things (IoT) Telit partnered with Tech Mahindra on developing complete solutions for the Internet of Things (IoT).

The contract includes combining and integrating Telit's portfolio of IoT products and services with Tech Mahindra's system integration capability and to develop solutions.

Reportedly, the firms hope that this level of connectivity should reduce overall complexity, cost and time-to-market.

Additionally, Telit will outsource related engineering development and testing activities to Tech Mahindra.

Furthermore, their joint capabilities would easily be applicable to any company seeking to transform its business model with IoT enabled real-time remote machine monitoring and control, production diagnostics, predictive maintenance, or asset tracking solutions, the reports noted.

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Moving on to the news from pharma sector. According to an article in a leading financial daily, Dr Reddy's Laboratories has received approval from the Central Drug Standard Control Organisation (CDSCO) to export drugs for the European Union market.

CDSCO permission will allow Dr Reddy's to export 15 active pharmaceutical ingredients (APIS) to the European Union. These drugs are used to treat hypertension, pneumonia, bacterial infection, cardiovascular diseases, migraine, among others.

The order will allow the company to import these substances for a period of three years.

Recently, Dr Reddy's also acquired eight abbreviated new drug applications from US-based pharmaceutical company TEVA. Bhavita Nagrani, our pharma sector analyst has shared quick bits on the Teva deal in one of our premium editions of The 5 Minute Wrap Up (Subscription Required).

Dr Reddy's Laboratories was trading up by 0.9% at the time of writing.

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Jan 19, 2018 (Close)