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India leads gainers in Asia
Tue, 18 Dec Closing

Buoyed by buying interest in select heavyweights from telecom, engineering and commodity sectors, the indices in Indian stock markets managed to close firmly in the positive today. While the BSE-Sensex closed higher by around 120 points (up 0.6%), the NSE-Nifty closed higher by 39 points. The BSE Mid Cap and BSE Small Cap indices also ended higher by around 0.6% each.

Asian indices closed a mixed bag today while Europe is trading in the positive currently. The rupee was placed at Rs 54.92 to the dollar at the time of writing.

As per a business daily, Idea Cellular, India's fourth-biggest cellular carrier has lost 1.56 m mobile subscribers in November. Following the said contraction, the company's total subscriber count stood at 114.14 m. Meanwhile, Bharti Airtel has lost about 2.8 m users in November 2012. Following this, the company's total customer base stood at 183.6 m. In the previous month it added about 0.5 m mobile subscribers. India's total mobile phone subscriber base declined to 906.62 m by September 2012. By the end of November 2012, the base has fallen in 5 consecutive months as carriers in the world's second-biggest wireless market disconnected inactive users in a clean-up drive. The stock of Bharti Airtel gained 4% in today's trade.

Pharma major Biocon has entered into collaboration with CCM Pharmaceuticals, a subsidiary of Chemical Company of Malaysia, whereby the India's premier biotechnology company has granted CCM an exclusive licence and distribution rights for its insulin products in Malaysia and Brunei. Both the companies are targeting an insulin market of around close to Rs 1.6 bn. Besides, this collaboration has given the Bangalore-based biotechnology firm a second partner to market its insulin products. It may be recalled that earlier this year, US drug maker Pfizer had scrapped an arrangement to sell Biocon's injectable insulin products.

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