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Sensex Trades Marginally Higher; ICICI Bank & HDFC Top Gainers
Thu, 12 Sep 12:30 pm | Monish Vora, TM Team

Share markets in India are presently trading on a positive note, tracking gains in global peers amid signs of a slowdown in US-China trade war. US President Donald Trump on Wednesday delayed an additional increase in tariffs on Chinese goods by two weeks.

The BSE Sensex is trading up by 57 points while the NSE Nifty is trading up by 14 points. The BSE Mid Cap index is trading up by 0.2%, while the BSE Small Cap index is trading up by 0.6%.

Sectoral indices are trading mixed with stocks in the automobile sector and IT sector witnessing selling pressure, while finance stocks and banking stocks are witnessing buying interest.

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The rupee is currently trading at 71.29 against the US$.

Speaking of Indian stock markets, if you look at the returns over the years, you will see that the markets have never moved in a linear fashion.

It has never been a one-way street - only up or down.

Stock markets have always moved in cycles.

If you would have bought stocks when either the Sensex or the Smallcap index was in a downturn, you would have made big returns once the cycle turned and the bulls took over.

The Time to Buy Stocks is Now

The economic slowdown does not herald the end of the world or for that matter the end of India. It's a phase and like all phases - This too shall pass.

The Double Income Project: The Lazy Man's Guide to Doubling Your Income in The Long Term

The real question is - Are you taking advantage of these price declines to buy quality stocks?

In news from the pharma space, Strides Pharma Science on Wednesday announced that it has acquired 70% stake in Switzerland-based Fairmed Healthcare AG for Rs 158.6 million. The acquisition was made through its subsidiary Strides Pharma Global Pte Ltd.

The company in a statement said "Fairmed has built a strong franchise of supplying high-quality Rx and OTC products in key European markets and the acquisition will augment Strides' footprint in continental Europe with a direct presence in the German speaking markets of Germany, Austria and Switzerland collectively called as DACH region."

After acquisition, the business will have access to Strides' already approved product portfolio for the markets Fairmed operates in with supplies from several of its EU approved facilities.

Last month, Strides, through its US-based subsidiary had acquired the soft gel capsule manufacturing facility of Micelle BioPharma in Florida for US$ 500,000.

Strides Pharma Science share price is presently trading down by 0.3%.

Meanwhile, the US Food and Drug Administration (USFDA) has issued an Establishment Inspection Report (EIR) for Alkem Laboratories' manufacturing facility located at St. Louis, Fenton Logistics Park, USA which was inspected from August 16, 2019 to August 22, 2019.

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The company received a Form 483 issued by the USFDA containing four observations.

Alkem Laboratories share price is presently trading down by 0.2%.

Moving on to news from the engineering sector, Walchandnagar share price is witnessing buying interest today after the company bagged a contract from Indian Space Research Organization (ISRO).

The company in its BSE filing said it secured an order worth Rs 772 million plus escalation from the Vikram Sarabhai Space Centre of ISRO located at Thiruvananthapuram.

Shares of the company are locked in 20% upper circuit on back of the above news.

The order is towards manufacturing and supply of head, middle and nozzle end segments (total 30 numbers) for the GSLV M KIII launch vehicle, it added.

The company's Managing Director & CEO said it is the company's second largest single order from ISRO and the largest as far as the GSLV-M KIII launch vehicle is concerned.

Note that the company has been a strategic partner to ISRO since the 1970s and has supplied critical launch vehicle hardware for all its programs (SLV, ASLV, PSLV, GSLV, and GSLV-M Klll) including the latest Chandrayaan-2 mission.

Meanwhile, Larsen & Toubro (L&T) said its Oman arm has won a "significant" contract in Muscat to build a hotel and residences. Reports state that the contract is in the range of Rs 10 billion to Rs 25 billion.

The company in a statement said, "the buildings and factories business of L&T Oman has been awarded the main work contract of The Mandarin Oriental, Muscat by Eagle Hills, Muscat. The project involves the construction of the Mandarin Oriental Hotel Muscat and the residences at the Mandarin Oriental, Muscat."

L&T will oversee the overall construction within the site, which includes a 150-key hotel and 156 units of branded residences, as well as 1,622 square meters of retail areas, podium and basement.

The statement said the business has also secured an add-on order to construct a residential tower for a leading developer in Hyderabad.

L&T share price is presently trading up by 0.1%.

To know more, you can read L&T's latest result analysis and L&T's 2018-19 annual report analysis on our website.

And to know what's moving the Indian stock markets today, check out the most recent share market updates here.

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

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Stock Market Updates

ASTRAL POLY TECHNICK Plunges by 16%; BSE CAPITAL GOODS Index Down 0.2% (Today's Market)

Sep 20, 2019 09:23 AM

ASTRAL POLY TECHNICK share price has plunged by 16% and its current market price is Rs 1,164. The BSE CAPITAL GOODS is down by 0.2%. The top gainers in the BSE CAPITAL GOODS Index are DILIP BUILDCON LTD (up 1.2%) and HEG (up 0.7%). The top losers is ASTRAL POLY TECHNICK (down 15.9%)..

ZEE ENTERTAINMENT Plunges by 6%; BSE 500 Index Up 0.1% (Today's Market)

Sep 20, 2019 09:23 AM

ZEE ENTERTAINMENT share price has plunged by 6% and its current market price is Rs 309. The BSE 500 is up by 0.1%. The top gainers in the BSE 500 Index are HEIDELBERG CEMENT (up 5.7%) and TATA COMM. (up 5.0%). The top losers are ZEE ENTERTAINMENT (down 5.6%) and ZYDUS WELLNESS (down 5.8%).

ZYDUS WELLNESS Plunges by 6%; BSE 500 Index Up 0.3% (Today's Market)

Sep 20, 2019 09:19 AM

ZYDUS WELLNESS share price has plunged by 6% and its current market price is Rs 1,766. The BSE 500 is up by 0.3%. The top gainers in the BSE 500 Index are TATA COMM. (up 5.0%) and GUJARAT FLUORO (up 5.0%). The top losers are ZYDUS WELLNESS (down 5.8%) and ENDURANCE TECHNOLOGIES LTD (down 5.0%).

TAKE SOLUTIONS Plunges by 5%; BSE IT Index Up 0.1% (Today's Market)

Sep 20, 2019 09:19 AM

TAKE SOLUTIONS share price has plunged by 5% and its current market price is Rs 123. The BSE IT is up by 0.1%. The top gainers in the BSE IT Index are FIRSTSOURCE SOL. (up 1.6%) and PERSISTENT SYSTEMS (up 1.3%). The top losers is TAKE SOLUTIONS (down 5.3%)..

ISGEC HEAVY ENG. Plunges by 5%; BSE CAPITAL GOODS Index Up 0.5% (Today's Market)

Sep 20, 2019 09:19 AM

ISGEC HEAVY ENG. share price has plunged by 5% and its current market price is Rs 396. The BSE CAPITAL GOODS is up by 0.5%. The top gainers in the BSE CAPITAL GOODS Index are BHARAT ELECTRONICS (up 1.5%) and SUZLON ENERGY (up 1.0%). The top losers is ISGEC HEAVY ENG. (down 5.5%)..

Falling Gold Prices, Global Stock Market Drivers, and Top Cues in Focus Today (Today's Market)

Sep 20, 2019 Pre-Open

Top cues to track in today's stock market session.

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