Asian stock markets have opened the day on a firm note. Stock markets in China (up 0.8%), Japan (up 0.3%) and Malaysia (up 0.3%) are in the green. The Indian stock markets have opened the day on a firm note as well. Stocks in the realty and auto space are leading the gains.
is trading higher by 66 points (0.4%) and the NSE-Nifty
is higher by around 20 points (0.4%). Mid cap and small cap stocks have opened on a firm note, with the BSE Mid Cap index up by 0.3% while BSE Small Cap is up by 0.2%. The rupee is trading at 53.20 to the US dollar.
Pharma stocks have opened the day on a firm note with Dr Reddy's Laboratories Ltd and Ranbaxy trading in the green. Drug maker, Dr Reddy's Laboratories Ltd has launched a new cream for reducing pain and inflammation in patients with joint pain, arthritis, bursitis, tendinitis among others. The cream has been named as 'Supamove' cream and has been launched in India through an in-licensing deal from the US-based Cymbiotics Inc. The cream will be available in 30 gm tube. Dr Reddy's in-licensed another product from Cymbiotics named Venusa. B introducing this lotion, Dr Reddy's strengthened its emollients and protective product portfolio. According to the IMS, the total market size for non-steroidal anti-inflammatory drug (NSAID) is valued at Rs 2,080 m and is growing at a healthy rate of over 18%.
Oil & gas stocks have opened the day on a firm note with Reliance Industries and Oil & Natural Gas Corporation (ONGC) trading in the green. As per a leading financial daily, state-owned ONGC is planning to set up a number of projects in the nuclear, fertilizer, solar, wind power and lighting sectors. The company will set up a gas-fired fertilizer plant in Tripura. The solar projects would come up in Rajasthan and Gujarat. The wind power project would be set up in Rajasthan. However, the company is yet to finalize the site for the nuclear plant and the light-emitting diode (LED) manufacturing unit. ONGC will set up the nuclear power plant in collaboration with Nuclear Power Corporation of India Ltd (NPCIL) at a mutually agreed location.