Asian stock markets have opened the day on a mixed note with the markets in Japan (up 1.3%) and China (up 0.4%) leading the gains. However, the markets in Hong Kong (down 0.7%) and South Korea (down 0.7%) are trading in the red. The Indian share markets have opened the day on a positive note. Barring the IT index, all sectoral indices are trading firm with healthcare and consumer durables indices leading the gains.
FMCG stocks have opened the day mainly in the green with Archies Ltd and Kokuyo Camlin leading the gains. As per a leading financial daily, FMCG company Dabur India has launched wearable mosquito repellent products, including wristbands and patches, under its Odomos brand. In addition, it has also inked an agreement with Pogo under which Odomos will use the image of Pogo's character Chota Bheem to adorn the wristband and mosquito repellent patches. In a statement, the company has said that this new range is India's first range of 100% natural active wearable mosquito repellents. Moreover, the wristband and patch are both water resistant. The Odomos mosquito repellent wristband is priced at Rs 199. This can last up to 15 days. The Odomos Patches aim to provide protection from mosquitoes for 12 hours. They are available in two packs of 10 and 24 priced at Rs 120 and Rs 265 respectively.
Indian Pharma stocks have opened the day on a firm note with Elder Pharma Ltd and J.B.Chemicals Ltd leading the gains. In a filing with the BSE, Gurgaon-based drug maker Ranbaxy Laboratories has stated that it has received a Civil Investigation Demand (CID) from the US Department of Justice. The department has sought information relating to the manner in which the company reports pricing data for certain products eligible for reimbursement under the Medicaid program. The company has clarified that the CID is a request for documents and information. It is not an allegation of wrongdoing or demand for compensation. It must be noted that Ranbaxy has been penalized by US authorities in the past.