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Markets will remain closed on April 17, 2024 on account of Ram Navami.

Indian stock markets remain lackluster
Fri, 6 Dec 01:30 pm

Indian markets continued to hover around the dotted region during the post noon trading session. Most of the sectoral indicies are trading in green, with consumer durables and power stocks leading among the pack of gainers. Stocks from IT and banking sector are witnessing maximum selling pressure.

BSE-Sensex is up by 11 points and NSE-Nifty is trading up by 8 points. While BSE Mid Cap is trading up by 0.46%, BSE Small Cap index is trading up by 0.29%. The rupee is trading at 62.65 to the US dollar.

Most of the Indian pharma stocks are trading in green with Biocon Ltd and Strides Acrolab being the leading gainers. Lupin Ltd, today announced that the company has launched Generic Trilipix Delayed Release Capsules 45 mg & 135 mg in the US. The said drug is generically known as choline fenofibrate, and has market size of US$ 450 m. The said drug is indicated as co-administration therapy with statins for the treatment of mixed dyslipidemia, treatment of severe hypertriglyceridemia and primary hypercholesterolemia or mixed dyslipidemia. Mylan had already launched the drug in Jul 2013. Lupin’s launch seems to be earlier than the time. Lupin had entered into settlement with the innovator, Abbott Ltd for launch in Jan 2014. We believe there are three generic companies viz Mylan, Lupin and authorized generic in the market. Thus a low competition launch for Lupin. Lupin is currently trading up by 0.56%

Majority of the telecom stocks are trading in the green with ADC India and Idea Cellular being the biggest gainers. However, Reliance Communications and Tata Communications are a few stocks trading in the red. As per a leading financial daily, Bharti Airtel is gearing up to launch voice call facility on 4G LTE network in Bengaluru. The company’s 4G data services are already operational in Pune, Kolkata, Chandigarh, Mohali, Panchkula and Bengaluru. The company has implemented the Circuit Switched Fall Back (CSFB) technology to offer voice calling services over its 4G LTE network in the country. The CSFB technology can also be used by the company to offer voice services to its LTE subscribers using 3G and even 2G network. Bharti Airtel has tied up with Huawei to launch 4G devices in India. The company has also acquired Wireless Business Services, a company founded by Qualcomm, to offer 4G services in New Delhi, Mumbai, Haryana and Kerala. Bharti Airtel stock is currently trading down by 1%.

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