Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2018 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.

Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks


Login Failure
(Please do not use this option on a public machine)
  Sign Up | Forgot Password?  

Dear Visitor: Equitymaster will be under maintenance from 10:00AM to 11.30AM on Sunday, 25 March 2018. During this period, our websites will be accessible though there is a possibility of some intermittent accessibility issues. Please bear with us. We are taking yet another step to make browsing Equitymaster a much faster experience! Thank you.

A negative start to the week
Mon, 7 Sep Closing

After opening the day flat, the Indian stock markets ended the day on a disappointing note as selling activity intensified in the post noon session. The Sensex today ended lower by 309 points while the NSE-Nifty ended lower by 96 points. The BSE Mid Cap and BSE Small Cap index ended with losses of 2.2% and 1.8% respectively. Healthcare, metal and power stocks were the least favored today.

Asian markets finished mixed as of the most recent closing prices. The Nikkei 225 gained 0.38%, while the Shanghai Composite led the Hang Seng lower. They fell 2.52% and 1.23% respectively. European markets have opened on a mixed note. The rupee fell further by 35 paise to trade at 66.81 against the US currency in the afternoon session.

According to a leading financial daily, Cipla's UK subsidiary - Cipla EU has entered into definitive agreements to acquire two US-based companies, InvaGen Pharmaceuticals Inc., and Exelan Pharmaceuticals Inc. The transaction, being subject to certain closing conditions, is valued at US$ 550 m and will be an all cash transaction. The combined revenue from these entities is over US$ 200 m for the year ended Dec 2014 and over US$ 225 m in last twelve months ended June 2015. This acquisition, which is the second landmark acquisition in Cipla's 80 years of history, will give the company scale in the US generics market through a wide product portfolio in CNS, CVS, anti-infectives, diabetes as well as other value added generics. The acquisition of InvaGen Pharmaceuticals also provides Cipla with about 40 approved ANDAs, 32 marketed products, and 30 pipeline products which are expected to be approved over the next 4 years. The acquisition of Exelan Pharmaceuticals provides Cipla access to the government and institutional market in the US through Exelan's deep expertise, engagement and experienced management team in the business.

Engineering stocks languished in the red with Welspun Corp and Bharat Bijlee being the biggest losers. According to a leading financial daily, Crompton Greaves (CG) has bagged a 3-year contract from the French distribution network operator Electricite Reseau Distribution France (ERDF), which manages 95% of the electricity distribution network in France, to provide maintenance and repair services to 4,500 high power transformers. These transformers of ERDF, a subsidiary of EDF, are credited with supplying energy to 35 million households in France. As part of this contract, CG will provide preventive and corrective maintenance of the ERDF on- load tap changers (OLTC) through speedy turnaround services.

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

Read the latest Market Commentary

Equitymaster requests your view! Post a comment on "A negative start to the week". Click here!


Small Investments
BIG Returns

Zero To Millions Guide 2018
Get our special report, Zero To Millions
(2018 Edition) Now!
We will never sell or rent your email id.
Please read our Terms


Mar 23, 2018 (Close)