Share markets in India continued their momentum during closing hours yesterday and ended on a positive note. Sectoral indices were trading on a positive note, with stocks in the energy sector and realty sector leading the gains.
At the closing bell yesterday, the BSE Sensex stood higher by 297 points (up 0.9%) and the NSE Nifty closed up by 72 points (up 0.7%). The BSE Mid Cap index ended up 1.1%, while the BSE Small Cap index ended up by 1.7%.
From the pharma space Alembic pharma share price will also be in focus today as the company has received tentative approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Alogliptin Tablets, 6.25 mg, 12.5 mg and 25mg.
The tentatively approved ANDA is therapeutically equivalent to the reference listed drug product (RLD), NESINA Tablets, 6.25 mg, 12.5 mg and 25mg of Takeda Pharms USA.
Market participants will also be tracking Lupin share price.
As per an article in a leading financial daily, the company's' wholly owned subsidiary in US - Lupin Pharmaceuticals has partnered with the National Association of Nurse Practitioners in Women's Health (NPWH) to conduct a two-pronged national online survey among women who have been diagnosed with bacterial vaginosis (BV) and healthcare providers (HCPs) who treat women with the condition.
From the IT sector, Infosys share price has reported 10% rise in its profit at Rs 41 billion for the quarter ended September 30, 2018 as compared to Rs 36.1 billion for the quarter ended June 30, 2018.
From the banking sector IndusInd bank share price has reported 4.6% rise in its net profit at Rs 9.2 billion for the quarter ended September 30, 2018 as compared to Rs 8.8 billion for the same quarter in the previous year.
To know more about the company, you can access IndusInd bank Q2FY19 result analysis and IndusInd bank 2017-18 Annual Report on our website.
Federal bank share price has reported a rise of 0.9% in its net profit at Rs 2.66 billion for the quarter under review as compared to Rs 2.64 billion for the same quarter in the previous year. Total income of the Bank increased by 15.8% at Rs 30.8 billion for Q2FY19 as compared Rs 26.6 billion for the corresponding quarter previous year.
In news from the IPO space. Emami Cement has filed with capital markets regulator to raise Rs 10 billion through an initial public offering (IPO).
The IPO comprises fresh issuance of shares worth Rs 5 billion, besides, an offer of sale of the same size by the company's existing promoters and shareholders, according to the draft red herring prospectus (DRHP).
The company said net proceeds raised through the issue will be used for re-payment of certain indebtedness and for other general corporate purposes.
Emami Cement established an installed manufacturing capacity of 5.60 million metric tonne per annum (MMTPA) in its two years of commercial operations.
The company said it currently operates three manufacturing plants and is in the process of setting up another plant, which subject to receipt of necessary approvals, is expected to result in an aggregate installed capacity of 9.30 MMTPA of cement and 3.2 MMTPA of clinker by April 2019.
The shares of the company will be listed on both the BSE and NSE.
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Oil prices fell yesterday on evidence of higher US oil production and expectations of increase in US crude inventories but reports of a fall in Iranian oil exports helped to limit losses.
Shares of most aviation companies were trading higher yesterday amid a fresh fall in oil prices.
In the past one year alone, oil prices have surged more than 50%.
Also note that rising crude oil prices not only affect fuel prices, but also has many other repercussions for the Indian economy.
They can be a big worry for the Modi government as well.
As Ankit Shah wrote in a recent edition of The 5 Minute WrapUp...
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