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Following a positive trend since the opening of the trading day, the Indian indices have continued to trade in the green during the post noon trading session. Sectoral indices are trading on a mixed note with stocks from the FMCG and auto sectors leading the gains, whereas power and metal stocks are witnessing selling pressure.
The BSE Sensex is trading higher by 59 points (up 0.3%) and the NSE Nifty is trading higher 12 points (up 0.1%). The BSE Mid Cap index is trading up 0.4% while the BSE Small Cap index is trading flat. Gold prices, per 10 grams, are trading at Rs 31,618 levels. Silver price, per kilogram is trading at Rs 47,875 levels. Crude oil is trading at Rs 2,692 per barrel. The rupee is trading at 66.74 to the US$.
As per an article in The Economic Times, NTPC Ltd has commissioned a solar photovoltaic power project of NP Kunta Ultra Mega Solar Power Project Stage-I at Anantapuramu in Andhra Pradesh.
The project has the overall capacity of 50 MW (1X50 MW).
Reportedly, with this, the installed capacity Anantapuramu has touched 250 MW and that of NTPC now stands at 47,228 MW.
In 2015-16 NTPC added 2,255 MW. At present, projects of 24,059 MW are under construction and will be ready in the next couple of years, the reports stated.
Moreover, the company has also signed Memorandum of Understanding (MoU) with Government of India to generate 248 billion units during the current financial year.
Speaking about solar industry, Rahul Shah, Co-Head of Research has compared the power generation costs from solar versus the other sources. Click Here (Subscription Required) to know more.
Subscribers can also access NTPC's latest result analysis on our website.
Moving on to the news from the pharma sector. According to an article in a leading financial daily, Sun Pharmaceutical Industries' subsidiary has received final approval from USFDA (U.S. Food and Drug Administration) for its generic version of Glumetza, Metformin Hydrochloride.
Considering the pharma's regulatory distresses, are Indian pharma companies now adapting to the scrutiny by the USFDA? Bhavita Nagrani, our pharma sector analyst, shares her insights in one of our premium editions of The 5 Minute Wrap Up (Subscription Required).
Further, the FDA approved the Abbreviated New Drug Application (ANDA) for Metformin Hydrochloride extended release tablets 500 mg and 1,000 mg. The tablets are therapeutic equivalents of Santarus Inc.'s Glumetza tablets which are used in treatment of type 2 diabetes.
The tablets have annual sales of approximately US$1.2 billion in the U.S., according to the IMS June 2016 data. The commercial launch of these tablets in the US is expected over the next few weeks, the reports stated.
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