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Markets trade in the red
Wed, 9 Dec 11:30 am

Indian stock markets have remained in red during the morning session of trade with auto, pharma and metal stocks facing the maximum selling pressure.

The BSE-Sensex is down by 91 points and NSE-Nifty is down by 31 points. S&P BSE Midcap is down by 1% and S&P BSE Smallcap is down by 1.5%. The rupee is trading at 66.72 to the US dollar.

Majority of pharma stocks are trading in red today with Glenmark Pharma and Dr. Reddy's Lab faring the worst. According to leading financial daily, Wockhardt has received Qualified Infectious Disease Product (QIDP) status for its new drug WCK 5222, a product from its breakthrough New Drug Discovery program in Anti Infectives from the US Food and Drug Administration (FDA). This is the fourth product from the company to receive this coveted status.

During last year, the company has reportedly received approval for WCK 771 & WCK 2349 and in early this year approval was received for WCK 4873, the only company globally to receive QIDP status for four drugs from US FDA.

Wockhardt is one of the few companies with end-to-end integrated capabilities, starting with the manufacture of the oral and sterile API's, the dose forms and marketing through wholly owned subsidiary in the US.

Yes Bank is reportedly aiming to mobilize US$ 5 billion from 2015 to 2020 for climate action through lending, investing and raising capital towards mitigation, adaptation and resilience. Yes Bank is the youngest Indian private sector bank in operation and holds the only Greenfield banking license awarded by the Reserve Bank of India, in the last 17 years. Through these commitments, Yes Bank has pledged to strengthen environmental sustainability.

The bank had committed to target funding 500 MW clean energy annually, which it has achieved. Recently, Yes Bank also reportedly signed a memorandum of understanding with The London Stock Exchange Group to collaborate on bond and equity issuance, with focus on developing green infrastructure during the Indian Prime Minister's visit to the United Kingdom.

Yes bank had posted a rise of 26.5% in its net profit at Rs 6.10 billion for the quarter ended September 30, 2015 as compared to Rs 4.82 billion for the same quarter in the previous year.

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Jul 27, 2017 (Close)

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