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IT stocks boost the markets
Tue, 20 Sep 09:30 am

Asian stock markets have opened the day on a mixed note. Stock markets in Honk Kong (down 0.1%), Indonesia (down 1.3%) and Japan (down 1.4%) are in the red while China (up 0.4%) and Singapore (up 0.1%) are in the green. The Indian stock markets have opened the day on a firm note. Stocks in the Consumer Durables and Information Technology (IT) space are leading the gains while stocks in Oil & Gas are trading in the red.

The BSE-Sensex is trading higher by 100 points (0.6%) and the NSE-Nifty is higher by around 33 points (0.6%). Mid cap and small cap stocks are trading in the green, with the BSE Mid Cap and BSE Small Cap indices up by 0.4% and 0.3% respectively. The rupee is trading at 48.1 to the US dollar.

Pharma Stocks have opened the day in the green with Ranbaxy and Cipla in the green. Sun Pharma has announced that the regulatory issues with the US Food and Drug Administration (USFDA) on its Cranbury plant have been resolved completely. However, things are not all hunky dory for the company. Sun Pharma has also lost a patent dispute with French drug-maker Sanofi. The dispute was over a patent on colon cancer drug - Eloxatin. The US District Court of New Jersey has ruled against Sun pharma over the resolution of the Eloxatin (oxaliplatin) patent litigation. This will ensure the drugs exclusivity for the US market till August 2012. Eloxatin sales are estimated to be at US$ 350 m for one quarter.

Auto stocks have opened the day on a firm note with Tata Motors and Bajaj Auto in the green. Tata Motor's Jaguar Land Rover (JLR) has announced that it will invest about GBP 355 m (approximately Rs 26.6 bn) on a new engine plant in central England. The UK government, which was keen to support manufacturing in Britain, has promised to provide up to GBP 10 m (approximately Rs 750 m). The plant is expected to create about 750 direct jobs while also supporting several thousand jobs across the UK economy. The luxury carmaker already employs more than 19,000 people in Britain and supports up to 140,000 jobs. Robust demand for JLR cars from emerging economies such as China and Russia has given it a significant boost. According to JLR CEO Ralf Speth, the company will invest about GBP 1.5 bn (approximately Rs 112.5 bn) a year for the next five years on new product developments. As such, expanding the engine range would aid the company to harness the full global potential of the Jaguar and Land Rover brands.

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Stock Market Updates

ONGC Share Price Down by 7%; BSE OIL & GAS Index Down 4.0% (Today's Market)

Feb 26, 2021 03:34 PM

ONGC share price is trading down by 7% and its current market price is Rs 118. The BSE OIL & GAS is down by 4.0%. The top gainers in the BSE OIL & GAS Index is CASTROL INDIA (up 1.3%). The top losers are ONGC (down 7.1%) and GAIL (down 6.3%).

ULTRATECH CEMENT Share Price Down by 5%; BSE 500 Index Down 3.4% (Today's Market)

Feb 26, 2021 03:30 PM

ULTRATECH CEMENT share price is trading down by 5% and its current market price is Rs 6,487. The BSE 500 is down by 3.4%. The top gainers in the BSE 500 Index are SOUTH IND.BANK (up 10.4%) and JAGRAN PRAKASHAN (up 10.0%). The top losers are ULTRATECH CEMENT (down 5.0%) and BAJAJ FINSERV (down 6.3%).

JAGRAN PRAKASHAN Share Price Up by 10%; BSE 500 Index Down 3.2% (Today's Market)

Feb 26, 2021 03:26 PM

JAGRAN PRAKASHAN share price is trading up by 10% and its current market price is Rs 60. The BSE 500 is down by 3.2%. The top gainers in the BSE 500 Index are JAGRAN PRAKASHAN (up 10.1%) and RCF (up 11.0%). The top losers are MAHINDRA CIE AUTO. and AJANTA PHARMA (down 0.1%).

UPL Share Price Down by 5%; BSE 500 Index Down 3.2% (Today's Market)

Feb 26, 2021 03:26 PM

UPL share price is trading down by 5% and its current market price is Rs 589. The BSE 500 is down by 3.2%. The top gainers in the BSE 500 Index are RCF (up 11.0%) and SOUTH IND.BANK (up 10.4%). The top losers are UPL (down 5.4%) and BAJAJ FINSERV (down 6.2%).

ICICI LOMBARD GENERAL INSURANCE Share Price Down by 5%; BSE 500 Index Down 3.2% (Today's Market)

Feb 26, 2021 03:26 PM

ICICI LOMBARD GENERAL INSURANCE share price is trading down by 5% and its current market price is Rs 1,479. The BSE 500 is down by 3.2%. The top gainers in the BSE 500 Index are RCF (up 11.0%) and SOUTH IND.BANK (up 10.4%). The top losers are ICICI LOMBARD GENERAL INSURANCE (down 5.2%) and BAJAJ FINSERV (down 6.2%).

Sensex Crashes 1,800 Points; Nifty Trades Below 14,700 Mark (Today's Market)

Feb 26, 2021 02:30 pm

The BSE Sensex is trading down by 1,464 points, while the NSE Nifty is trading down by 423 points.

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