Indian share markets pared losses and turned marginally positive in the post-noon trading session. Barring banking, and IT, all the stocks are trading in the green. Realty and power stocks are the biggest gainers today.
pharma stocks are trading mixed with J B Chemicals and Dishman Pharma being the biggest gainers and Aurobindo Pharma and Elder Pharma being the major losers. As per a leading financial daily, Aurobindo Pharma has voluntarily recalled Gabapentin capsules, an anti-epilepsy drug from the US markets. The drug lot of USP 300 mg 100-count bottles was found to contain some empty capsules that could result in adverse health consequences. These could range from no-effect, short-term reduction in efficacy or withdrawal effect or long period seizures that can be life-threatening. There have not been any events for adverse effects but the company has received four complaints for empty capsules.
Majority of the power stocks are trading in the green with Torrent Power and JSW Energy being the major gainers. Only Nevyeli Lignite is trading in the red. As per a leading financial daily, Tata Power is set to lose its leadership position in the private power production space after Adani Power recently acquired 600 Mw Korba West plant from Avantha Group. This acquisition will scale up Adani Power's installed capacity to 11,040 Mw as compared to Tata Power's operational capacity of 8,580 Mw. While Tata Power is struggling with a pipeline capacity of 7000-8000 Mw in the domestic markets, its overseas expansion is moving on smoothly. The company is setting up capacity of 2,600 Mw abroad which includes 1,200 Mw in Vietnam, 600 Mw in Mynmar and 400 Mw in Georgia. Tata Power has said that the foreign expansion might overtake the domestic expansion. The company has set a target of achieving 10,000 MW of overall capacity by 2020 as compared to Adani Power's target of reaching 20,000 Mw in the same time-frame. But with a presence in all segments of power sector including transmission and distribution, Tata Power claims to be the largest integrated power company. Adani Power is up 1.1% and Tata Power is up 0.7%.