Monday, 18 June 2018

Indivior's shares rise after US court blocks Dr Reddy's generic drug

Indivior stuck to its 2018 revenue guidance on Friday but said it would revisit the forecast if Dr Reddy's launches the cheaper drug. Shares in British drugmaker Indivior rose on Monday after a US Court granted a temporary restraining order blocking Dr Reddy's Laboratories from launching a generic version of Indivior's best-selling opioid addiction treatment. Indivior shares rose more than 6 per cent in early trade, after falling by nearly a third on Friday after Dr Reddy's and US-based Mylan NV received FDA approval for a generic version of Suboxone Film, which generates 80 per cent of Indivior's revenue.


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Jubilant FoodWorks hits new high ahead of 1:1 bonus

In past one month, Jubilant FoodWorks has outperformed the market by gaining 12% as compared to 2% rise in the S&P BSE Sensex. Jubilant FoodWorks hit a new high of Rs 2,796, up 1%, extending its past two days 3% gain on the BSE, ahead of record date for 1:1 bonus issue. The stock will turn ex-bonus on Thursday, June 21, 2018. The Capital Issue Committee has fixed Saturday, June 23, 2018 as the record date, for the purpose of determining the list of equity shareholders who will be entitled for issue and allotment of bonus equity shares in the proportion of 1 equity share of Rs 10 each for every 1 equity share of Rs 10 each of the Company.


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Adani Green Energy gains 5% on debut, trades at Rs 29 on BSE

Adani Green Energy, the renewable power arm for Adani Enterprises, has locked in upper circuit of 5% at Rs 29.40 on the BSE. Adani Green Energy, the renewable power arm for Adani Enterprises, has locked in upper circuit of 5% at Rs 29.40 on the BSE on first day of its listing. The stock recovered 9% from its intra-day low of Rs 27, after opening at Rs 28 on the BSE. On the National Stock Exchange (NSE), the stock trading at Rs 31, after opening at Rs 30. The stock hit a high of Rs 31.50 and a low of Rs 28.50 so far. Till 10:58 am; a combined 4.74 million shares changed hands and there were pending buy orders for around 352,328 shares on the BSE and NSE.


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Kanoria Chemicals gains 4% after announcing new plant

The company is setting up a formaldehyde plant with a capacity of 1,00,000 TPA at Naidupeta. Chemical intermediates manufacturer Kanoria Chemicals gained 4% to Rs71 in early trade on BSE. This is attributed to the company setting up a formaldehyde plant with a capacity of 1,00,000 TPA at Naidupeta in Andhra Pradesh’s Nellore district. As per a BSE filing, this became possible after it received environmental clearance from the Ministry of Environment, Forests & Climate Change. Apart from chemicals, Kanoria Chemicals has diversified business interests, including automotive and industrial electronics, renewable energy and textiles. It has two chemicals manufacturing facilities, one at Ankleshwar in Gujarat, which manufactures alcohol-based intermediates; the second is at Visakhapatnam in Andhra Pradesh, which manufactures formaldehyde, hexamine and resins. Kanoria Chemicals and Industries is currently trading at Rs71.15 up 4%, from its previous close of Rs68.55 on the BSE. The scrip opened at Rs71 and touched a high and low of Rs73.35 and Rs70.35, respectively.


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TCS, Infosys push BSE IT index to new high; IT index rallies 24% in CY18

Thus far in the current calendar year BSE IT index has outperformed the market by surging 24% as compared to 4.6% rise in the Sensex. Shares of information technology (IT) companies were in focus on Monday with the S&P BSE IT index hitting record high. The raly comes on the back of a surge in prices of sector majors - Tata Consultancy Services (TCS) and Infosys - that hit a new high on the BSE in intra-day trade.


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Friday, 15 June 2018

Nifty Pharma index set to post biggest weekly rally in 15 years

Shares of pharmaceutical companies are on a roll with the Nifty Pharma index all set to post its biggest weekly gain in 15 years following the positive news flow from the corporate levels with regard to regulatory issues. the Nifty Pharma index -- largest gainer among sectoral indices, was up 2.2% at 9,310, surging 8.2% thus far in current week. Earlier, in week ended August 31, 2003, the index had recorded 9.1% gain.


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Shanghai stocks hit lowest since 2016 as US Tariff list looms

The Shanghai Composite Index dropped to its lowest since September 2016 and a whisker away from the 3,000- point mark as the US prepared to release a list of goods upon which it will impose tariffs. The Shanghai Composite Index dropped to its lowest since September 2016 and a whisker away from the 3,000-point mark as the US prepared to release a list of goods upon which it will impose tariffs. The benchmark was down 0.9% at 3,016.57 as of the mid-day trading break on Friday, heading for a fourth straight weekly loss, its worse run this year. Kweichow Moutai Co. was the biggest drag on the gauge, which hasn’t dropped below 3,000 since 2016. The ChiNext measure of small cap and technology stocks fell 1.9%, while Hong Kong’s Hang Seng Index slipped 0.1%, erasing an earlier gain.


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