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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Auto Stocks Outperform
Wed, 31 Aug 01:30 pm

Indian Indices are trading marginally higher during the post-noon trading session after opening on a flattish note. Barring realty & metal stocks, major sectoral indices are trading on a positive note with stocks from the auto and capital goods sectors witnessing maximum buying interest.

The BSE Sensex is trading higher by 94 points (up 0.3%) while the NSE Nifty is trading higher by 46 points (up 0.5%). The BSE Mid Cap index is trading higher by 0.7% and BSE Small Cap index is trading higher by 0.4%. Gold prices, per 10 grams, are trading at Rs 30,787 levels. Silver price, per kilogram is trading at Rs 44,168 levels. Crude oil is trading at Rs 3,107 per barrel. The rupee is trading at 66.98 to the US$.

As per a leading financial daily, Tata Consultancy Services (TCS) has developed a solution to reduce the cost and time of manufacturing gas turbines in collaboration with General Electricals (GE).

Reportedly, the digital solution will analyze temperature at various points on the metal turbine parts as they are assembled and cooled. This will allow the operators to know when the next operation can be performed, reducing wait time between operations and improving quality monitoring. The preliminary application was built and installed for GE Power's gas turbine plant in South Carolina.

Moreover, this application is built on the intelligent LED platform by GE and Intel that can reduce costs and energy consumption. It will also provide data collection and analytics capabilities, the reports noted.

On one hand, the TCS solution will enable significant cost and time savings in the rotor stacking process, while on the other hand, the deal with GE and Intel will deliver the benefits of Industrial IoT in bringing certainty in complex manufacturing operations. This demonstrates the power of three industry leaders leveraging their respective capabilities to revolutionize gas turbine manufacturing industry, the reports noted.

Further, not all Tata Group companies are necessarily robust businesses. However, some of the Tata Group businesses are simply better than the others. TCS is without doubt one such solid business given its consistent performance and innovation in this space.

As per an article in The Economic Times, Cipla Ltd announced that its subsidiary, InvaGen Pharmaceuticals Inc. has received final approval for its Abbreviated New Drug Application (ANDA) for Bupropion Hydrochloride Extended-Release Tablets.

A generic version of Valeant's Wellbutrin XL Tablets was granted approval by US FDA (Food & Drug Administration) in various strengths such as 150mg and 300mg. The tablets are indicated for the treatment of major depressive disorder (MDD) and prevention of seasonal affective disorder (SAD).

According to IMS Health, Wellbutrin XL tablets and generic equivalents had US sales of approximately USD 792 million for the 12-month period ending June 2016.

In another development, Cadila Healthcare, Torrent Pharma & GSK Pharma are reportedly eyeing acquisition of top-selling zinc-based multi-vitamin brand owned by Chennai based Apex Lab. Zincovit and Zincofer, a zinc based multi vitamin are two brands that have been put on the block by Apex Labs.

Moreover, Zincovit is the brand leader in zinc-based segment with a 19% market share. Reportedly, it's a strategic shift by the company and the deal value is likely to be in the range of Rs 11-Rs 12 billion. As part of the deal, the sales force connected to these brands may also move and Apex Labs will continue to supply the products via a contract manufacturing agreement post the deal. The company's plant is UK-MHRA approved and it also manufactures for pharma majors in UK, Europe and Canada.

Despite the several headwinds, the Indian pharma pack could manage growth in exports. Notably, the pharmaceutical sector, which is an important contributor to India's exports, stood out in terms of export performance.

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