Sun Pharma, Hindalco, Hero MotoCorp, L&T and Wipro are top gainers in the Sensex. Among the losers are Axis Bank, Coal India, Tata Motors, GAIL and Maruti.
Shares of Lupin gained more than 1 percent on approval from US Food and Drug Administration for diabetes drug. The pharma major has received an approval from the USFDA for PrandiMet (also known as Prandin) generic that is used for treatment of type 2 diabetes. Danish pharmaceutical company Novo Nordisk is the innovator of the drug and has received approval from USFDA in June 2008. "PrandiMet had been approved to lower the blood glucose in adult patients with type 2 diabetes whose hyperglycemia cannot be controlled satisfactorily by meglitinide and/or metformin," Novo said in its release published in 2008. Analysts feel this could be a limited competition drug. Actavis and Sandoz are few of the other generic filers for Prandin.
Cement major ACC is expected to degrow in the quarter ended June. Profit is likely to fall 11 percent year-on-year to Rs 217 crore and total income may drop 2 percent to Rs 3.012 crore, according to a CNBC-TV18 poll. The company follows January-December as its financial year. Analysts expect cement volumes to decline in April-June quarter (following weakness in past two consecutive quarters) due to poor sales seen in Southern and Northern markets.
After a stellar rally yesterday, the market has opened with marginal gains on Friday. The Sensex is up 74.17 points at 28520.29 and the Nifty is up 12.75 points at 8620.80. About 627 shares have advanced, 137 shares declined, and 79 shares are unchanged. Sun Pharma, Hindalco, Hero MotoCorp, L&T and Wipro are top gainers in the Sensex. Among the losers are Axis Bank, Coal India, Tata Motors, GAIL and Maruti. The rupee has opened flat at 63.51 per dollar on Friday against 63.51 Thursday. Himanshu Arora of Religare said, "The USD-INR pair is expected to trade slightly higher today amid latest comments from Fed Chair, Janet Yellen, that they plan to hike rates this year on back of strengthening US economy." The dollar index rallied to a seven-week high. An easing in jobless claims reinforced market expectations of a 2015 US interest rate hike. Asian markets are holding steady with a mild positive bias this morning.Nikkei has bounced up to its highest level since late June as the yen hovered near its weakest level in more than three weeks. The Nikkei has reversed last week’s 4 percent cut with a 4 percent gain this week. Kospi index touched a two-week high in early trade but has come off more than half a percent from the day’s top. Posco is under pressure on news that it is scrapping plans for a USD 12 billion project it had agreed to set up in India more a decade ago. Taiwan has been an underperformer this week down 3 percent. Singapore markets shut today US stocks closed near highs, with the Nasdaq at a record, as investors focused on earnings beats amid progress towards near-term resolution in the Greek debt crisis. The Nasdaq composite rallied more than 1 percent to set a new closing record of 5163. European stocks closed higher after the European Central Bank (ECB) extended its emergency funding for the country's banks. Mario Draghi confirmed an increase in emergency funding to Greece by 900 million euro over one week. He added the ECB would "grant in principle a 3-year ESM stability support to Greece, subject to the completion of relevant national procedures. The dollar index rallied to a seven-week high. An easing in jobless claims reinforced market expectations of a 2015 US interest rate hike. Brent crude prices are steady around USD 57 per barrel after data showed a fall in crude inventories and strong demand from refineries in the US. Gold falls to an eight-month low after the dollar index rises to a seven-week high.
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Shares of Lupin gained more than 1 percent on approval from US Food and Drug Administration for diabetes drug. The pharma major has received an approval from the USFDA for PrandiMet (also known as Prandin) generic that is used for treatment of type 2 diabetes. Danish pharmaceutical company Novo Nordisk is the innovator of the drug and has received approval from USFDA in June 2008. "PrandiMet had been approved to lower the blood glucose in adult patients with type 2 diabetes whose hyperglycemia cannot be controlled satisfactorily by meglitinide and/or metformin," Novo said in its release published in 2008. Analysts feel this could be a limited competition drug. Actavis and Sandoz are few of the other generic filers for Prandin.
Cement major ACC is expected to degrow in the quarter ended June. Profit is likely to fall 11 percent year-on-year to Rs 217 crore and total income may drop 2 percent to Rs 3.012 crore, according to a CNBC-TV18 poll. The company follows January-December as its financial year. Analysts expect cement volumes to decline in April-June quarter (following weakness in past two consecutive quarters) due to poor sales seen in Southern and Northern markets.
After a stellar rally yesterday, the market has opened with marginal gains on Friday. The Sensex is up 74.17 points at 28520.29 and the Nifty is up 12.75 points at 8620.80. About 627 shares have advanced, 137 shares declined, and 79 shares are unchanged. Sun Pharma, Hindalco, Hero MotoCorp, L&T and Wipro are top gainers in the Sensex. Among the losers are Axis Bank, Coal India, Tata Motors, GAIL and Maruti. The rupee has opened flat at 63.51 per dollar on Friday against 63.51 Thursday. Himanshu Arora of Religare said, "The USD-INR pair is expected to trade slightly higher today amid latest comments from Fed Chair, Janet Yellen, that they plan to hike rates this year on back of strengthening US economy." The dollar index rallied to a seven-week high. An easing in jobless claims reinforced market expectations of a 2015 US interest rate hike. Asian markets are holding steady with a mild positive bias this morning.Nikkei has bounced up to its highest level since late June as the yen hovered near its weakest level in more than three weeks. The Nikkei has reversed last week’s 4 percent cut with a 4 percent gain this week. Kospi index touched a two-week high in early trade but has come off more than half a percent from the day’s top. Posco is under pressure on news that it is scrapping plans for a USD 12 billion project it had agreed to set up in India more a decade ago. Taiwan has been an underperformer this week down 3 percent. Singapore markets shut today US stocks closed near highs, with the Nasdaq at a record, as investors focused on earnings beats amid progress towards near-term resolution in the Greek debt crisis. The Nasdaq composite rallied more than 1 percent to set a new closing record of 5163. European stocks closed higher after the European Central Bank (ECB) extended its emergency funding for the country's banks. Mario Draghi confirmed an increase in emergency funding to Greece by 900 million euro over one week. He added the ECB would "grant in principle a 3-year ESM stability support to Greece, subject to the completion of relevant national procedures. The dollar index rallied to a seven-week high. An easing in jobless claims reinforced market expectations of a 2015 US interest rate hike. Brent crude prices are steady around USD 57 per barrel after data showed a fall in crude inventories and strong demand from refineries in the US. Gold falls to an eight-month low after the dollar index rises to a seven-week high.
For More Detail visit Our SIte - http://www.allianceresearch.in/
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