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Indian Markets Extend Losses
Mon, 2 Nov 11:30 am

After opening the day on a bearish note, the Indian Indices extended their losses and are presently trading lower. Most of the sectoral indices are trading on a discouraging note with capital goods and pharmaceuticals sector leading the losers.

BSE-Sensex is trading lower 187 points (down 0.7%) and the NSE-Nifty is trading down 53 points (down 0.7%). The S&P BSE Midcap index and the S&P BSE Smallcap index are also trading negatively, down by 0.4% and 0.5% respectively. The rupee is trading at 65.47 to the US$.

Sun Pharma is expecting its revenues and net profit to be adversely hit in the short term. This was estimated by keeping in mind the supply constrains at Halol facility in Gujarat and high expenses arising out of Ranbaxy integration as well as remedial actions.

Ranbaxy Laboratories. The company, at its 23rd Annual General Meeting (AGM), said that it is expecting to incur certain integration charges in order to generate long-term synergies form the merger with Ranbaxy.

banned by the USFDA from export of drugs to the US market. Sun Pharma has stated that the remediation process at these four manufacturing sites continues to move as per the plans. However, it cautioned that this would be a time consuming process.

automobile space are trading on a mixed note with Bajaj Auto and Ashok Leyland leading the losses. As per a leading financial daily, Mahindra & Mahindra (M&M) has reported 20% surge in total sales for the month of October on a YoY basis. This was mainly because of good demand for its recently launched TUV300.

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Oct 19, 2017 (Close)

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