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Auto, energy stocks lead the gains
Thu, 15 Oct Closing

Buoyed by strong sentiments across Asia and Europe, Indian stock markets performed well today and ended well above the dotted line. While the BSE-Sensex closed higher by around 230 points, gains on the NSE-Nifty came in at around 72 points. S&P BSE Midcap and S&P BSE Smallcap indices also closed strong, edging higher by around 0.8% and 0.5% respectively. Auto and oil and gas stocks emerged as the top gainers.

Asian markets closed sharply higher today with shares in China leading the region. The Shanghai Composite was up 2.32% while Hong Kong's Hang Seng was up 2.00%. Japan's Nikkei 225 closed higher by 1.15%. European markets have opened higher in early trade with shares in Germany leading the gains. The rupee was trading weak at 65.11 against the US$ in the afternoon session.

Healthcare sector finished the day with modest gains with IPCA Labs and Opto Circuits leading the gains. According to a leading financial daily, Swiss pharmaceutical firm Helsinn Healthcare SA has settled patent litigations relating to its anti-nausea injection Aloxi with Dr. Reddy's Laboratories Ltd. The settlement will allow Dr. Reddy's to market the generic version of Aloxi in the US on 30 September 2018 or earlier under certain circumstances. Aloxi generically called as palonosetron HCl injection is used to treat chemotherapy-induced nausea and vomiting in patients suffering from cancer. Reportedly, Aloxi had sales of nearly US$416 million in the US and Canada for the year ended 31 March.

Radhika Pandit, Managing Editor of ValuePro recently wrote an article in the '5 Minute Wrap Up Premium' highlighting the issues faced by Dr Reddy's. The article gives an in depth view of the company's delay in product launch.

Tata Consultancy Services (TCS) is reportedly in talks with nine of the 11 payments bank license holders to offer operational solutions. The company has been a key participant for government deals in the domestic market. In the banking sector, it works with most of the leading lenders. State Bank of India, the largest public sector bank, has its core banking operations on TCS' banking platform, BaNCS.

Tata Consultancy Services has announced its financial results for 2QFY16. The company has reported a 5.8% quarter-on-quarter (QoQ) increase in its consolidated sales and a 6.5% QoQ increase in its consolidated net profit in 2QFY16. Here is our analysis of the results.

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May 26, 2017 (Close)

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