March 29, 2024

Costaalegre Restaurant

Learn marketing business

Sensex down 250 pts, Nifty above 15,705; VIX at 6.93%

11 min read

Indian indices shed previous week’s gain on Monday. While most Asian markets will remain closed for trade on Monday, Japan’s Nikkei index surged at market open. All eyes are on the meeting of the Federal Open Market Committee this week

14 Jun 2021, 01:09:18 PM IST

Table of Contents

Eclerx Services gains for third straight day

eClerx Services gained 11% on Monday to trade at 1,809 apiece. The average of 12-month consensus price targets implies a downside of 6.9%, according to Bloomberg analysts.

listElement-graph-11623656354457-200017

listElement-graph-11623656354457-200017

14 Jun 2021, 01:00:10 PM IST

JSW Cement enters construction chemicals biz, launches green products

JSW Cement said on Monday it has entered the construction chemical sector with the launch of a green product range in the category.

The range comprises ‘Enduro Plast’ readymix plaster, ‘Krysta Leakproof’ integral crystalline waterproofing compound and’Duraflor’floorhardner, it said in a statement.

JSW Cement has established a 0.3-million-ton manufacturing facility in Ballari in Karnataka to produce its construction chemical product range.

It has begun the roll-out of these products and will cover key markets across Karnataka.

14 Jun 2021, 12:57:32 PM IST

Sterling and Wilson Solar appoints Amit Jain as Global CEO

Solar EPC company, Sterling and Wilson Solar Limited, has appointed Amit Jain as its global CEO, the company said today.

Jain succeeds Bikesh Ogra, who relinquished the position effective 31 May 2021, but will continue as a director on the board of the company. (Read here)

listElement-graph-11623655648280-295131

listElement-graph-11623655648280-295131

14 Jun 2021, 12:27:40 PM IST

Dentsu International launches sports marketing unit in India

Advertising firm Dentsu International on Monday announced the launch of its sports marketing unit in India. The launch is supported by Tokyo headquartered Dentsu Sports International (DSI) and Dentsu Sports Asia (DSAsia), Singapore. Both DSI and DSAsia are global agencies offer marketing solutions to advertisers by associating with popular sports properties. In India, the unit will function under DSAsia, Singapore. (Read here)

14 Jun 2021, 12:24:29 PM IST

WPI inflation gallops to 12.94% in May

Wholesale price inflation galloped to a record 12.94% in May after breaching double digits in April on the back of rising global commodity prices. Data released by the industry department showed while fuel inflation rose 37.6%, inflation for manufactured items increased 10.8% while food inflation moderated to 4.3% in May. Crude petroleum price rose 102.5% which led to increase in prices of LPG (61%), petrol ( 62.3%) and diesel (66.3%), especially as the government increased fuel prices post assembly election results. Among food items, inflation of pulses (12.1%), onions (23.2%) and fruits (20.2%) rose while vegetable prices fell 9% from their level a year ago.

Among manufactured items, food products (15.2%), edible oil (51.7%), basic metals (27.6%) rose significantly while prices of tobacco products contracted.

14 Jun 2021, 12:20:55 PM IST

Tata Motors to raise up to ₹500 crore via securities

Tata Motors on Monday said its board has approved a proposal to raise up to 500 crore through the issue of securities on a private placement basis. A meeting of the duly authorised committee has approved subscription, on a private placement basis, up to 5,000 rated, listed, unsecured, redeemable, non-convertible debentures (NCDs) of face value 10 lakh each, aggregating up to 500 crore, the auto major said in a regulatory filing.

listElement-graph-11623653451805-100570

listElement-graph-11623653451805-100570

14 Jun 2021, 12:15:47 PM IST

Natco Pharma’s marketing partner gets USFDA nod for anti-cancer drug

Natco Pharma on Monday said its marketing partner Breckenridge Pharmaceutical Inc has received approval from the US health regulator for anti-cancer drug Carfilzomib Vials. “Breckenridge Pharmaceutical Inc. (BPI), has received approval for its abbreviated new drug application (ANDA) for Carfilzomib Vials ANDA (generic for Kyprolis), from the US Food and Drug Administration (USFDA),” Natco Pharma said in a regulatory filing. Natco has tied up with Breckenridge Pharmaceutical Inc to market the product in the US. “The parties have received final approval for 10 mg and 60 mg strengths of the product and tentative approval for the 30 mg strength of the product,” it added.

listElement-graph-11623653144168-124816

listElement-graph-11623653144168-124816

14 Jun 2021, 12:11:45 PM IST

Wholesale price-based inflation hits 12.94% in May, up against 10.49% in April: govt data

14 Jun 2021, 12:01:13 PM IST

RattanIndia Power repays ₹1,219 cr debt

RattanIndia Power Ltd on Monday said it has repaid 1,219 crore debt in the last 15 months, including 200 crore prepayment, despite the challenges posed by the covid-19.

“During the last 15 months, RPL has repaid the debt of 1,219 crore to lenders, including 200 crors as prepayment, even in the face of challenges posed by the pandemic,” the company said in a BSE filing.

The company’s current debt position could not be immediately ascertained.

14 Jun 2021, 11:48:55 AM IST

RBI tolerating higher inflation with an eye on recovery

Indian monetary policy makers are tolerating inflation rates higher than their 4% medium-term target while they focus resources on an economic rebound. Economists see the Reserve Bank of India taking a grin-and-bear it approach to price pressures as it seeks to help the country’s economy recover from one of the world’s worst coronavirus outbreaks. The RBI has chosen to look through a recent surge in inflation because it was supply-side driven, and will only turn persistent when demand kicks in, deputy governor Michael Patra said at a briefing 4 June.

While the wholesale price print due today will probably make for another grim reading, retail inflation is seen hovering above the 5% mark for the third out of five months this year. Monetary policy makers ignored the acceleration and earlier this month retained an “accommodative” stance for as long as needed to restore growth on a durable basis. (Bloomberg)

14 Jun 2021, 11:33:23 AM IST

Lupin gets warning letter from USFDA for Somerset facility; shares dip over 3%

Drug firm Lupin on Sunday said it has received a warning letter from the US health regulator for its Somerset facility in the US. The United States Food and Drug Administration (USFDA) had inspected the company’s Somerset, New Jersey, facility from September 10, 2020, to November 5, 2020, Lupin said in a regulatory filing. “The company does not believe that the warning letter will have an impact on disruption of supplies or the existing revenues from operations of this facility,” it added.

listElement-graph-11623650598529-100257

listElement-graph-11623650598529-100257

14 Jun 2021, 11:25:02 AM IST

Adani stocks pull down Indian stock markets, investors eye inflation data

Indian stock markets were under pressure on Monday, weighed down a fall in shares of Adani Group companies, with investors awaiting key macroeconomics data due later today.

At 10.45am, the benchmark Sensex was down 0.5% at 52,234.23, while the Nifty was at 15,712.00, down 87.35 points. (Read here)

listElement-graph-11623650096311-112599

listElement-graph-11623650096311-112599

14 Jun 2021, 11:13:44 AM IST

HCL Tech names executive VP of cloud offering

HCL Technologies announced the appointment of Siki Giunta as executive vice president, HCL CloudSmart industry cloud offerings into client markets. Giunta joins HCL from Accenture. She has also led several other leadership positions in the industry, including the CEO of Managed Objects and Fortisphere.

listElement-graph-11623649421530-132281

listElement-graph-11623649421530-132281

14 Jun 2021, 11:06:25 AM IST

Indian pharma companies’ sales to rise after resilience in FY21: Fitch Ratings

Indian pharmaceutical companies’ sales will grow robustly in the financial year ending March 2022 (FY22) as sales normalise in categories affected by the pandemic in the previous year, said Fitch Ratings. Most Indian pharma companies reported resilient operating performance in FY21, benefitting from gradual stabilisation after 1QFY21, geographical diversification and sales of pandemic-related drugs. (Read here)

listElement-graph-11623648982509-139

listElement-graph-11623648982509-139

14 Jun 2021, 10:44:58 AM IST

Rupee slips 14 paise to 73.21 against US dollar in early trade

The Indian rupee slipped 14 paise to 73.21 against the US dollar in early trade on Monday, as rising crude oil prices and weak domestic equities weighed on investor sentiments.

Forex traders said weak Asian currencies and strengthening of the greenback in the overseas market were the other factors that dragged down the local unit.

At the interbank foreign exchange, the domestic unit opened at 73.21 against the dollar, registering a decline of 14 paise over its previous close.

On Friday, the rupee had settled at 73.07 against the American currency.

14 Jun 2021, 10:43:16 AM IST

Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

“The index continues to be nervous at higher levels; 15,700-1,5800 is posing to be a resistance and this has happened multiple times over the last few trading sessions. The support for the Nifty has been upgraded to 15,700-15,750 and as long as this holds on a closing basis, we are in bullish terrain. Should we break the level of 15,700 on a closing basis, traders should consider wrapping up their long positions and wait for a directional move thereafter. Until then, 15,900-16,000 is the next target for the index.”

14 Jun 2021, 10:23:37 AM IST

DLF, Hemisphere properties top drags

Nifty realty index

View Full Image

Nifty realty index
14 Jun 2021, 10:06:27 AM IST

Banks, financials, realty, metals drag

Nifty sectoral indices

View Full Image

Nifty sectoral indices
14 Jun 2021, 09:55:39 AM IST

HDFC twins, ICICI Bank, SBI top drags

Index contribution

View Full Image

Index contribution
14 Jun 2021, 09:42:05 AM IST

BCPL Railways Infrea trades lower

BCPL Railway Infrastructure Ltd was trading at 51.05 apiece, down 0.78%. The company has received an order from Eastern Railway, electrical relating to 25KV OHE work in connection with construction of New BG Line from Mohanpur to Hansdiha in Asansol Division of Eastern Railway. The total project cost comprises 20.56 crore and it is expected to be executed over a period of 12 months.

14 Jun 2021, 09:35:22 AM IST

India reports 70,421 new covid-19 infections, 3,921 deaths

14 Jun 2021, 09:26:33 AM IST

Market opening

The Sensex opened at 52,462.48, down 12.28 oints, or 0.02%, while the Nifty was at 15,791.40, down 7.95 points, or 0.05%. All sectors except IT and realty opened in red. PowerGrid, Infosys, TCS and 14 other stocks opened in green. IndusInd Bank, Bajaj Finance, SBI and 10 other stocks opened in red on the 30-share Sensex.

Sensex at open

View Full Image

Sensex at open
14 Jun 2021, 09:09:15 AM IST

Market pre-opening

The Sensex was at 52,563.73, down 88.97 points or 0.17%, while the Nifty was at 15,799.35, up 61.60 points, or 0.39%, at market pre-opening.

14 Jun 2021, 09:03:24 AM IST

Gold prices at 1-1/2-week low on dollar strength as Fed meeting looms

Gold prices slipped on Monday to their lowest in more than a week, weighed down by a stronger dollar, while investors awaited cues from the Federal Reserve policy meeting this week with recent spikes in US consumer prices seen as a temporary blip.

Spot gold was down 0.6% at $1,864.58 per ounce, as of 0311 GMT, its lowest since June 4.

US gold futures fell 0.6% to $1,867.60 per ounce.

14 Jun 2021, 08:57:39 AM IST

Amara Raja founder chairman to step down

Amara Raja Batteries’ founder chairman Ramachandra Galla has decided not to seek reappointment after 36 years at the helm. He will be succeeded by vice chairman Jayadev Galla. The company has announced an ‘Energy and Mobility’ strategy. It has announced expansion of the lead acid batteries business and the establishment of a new energy SBU encompassing lithium cell and battery pack, EV chargers, energy storage systems, advanced home energy solutions and related products and services.

14 Jun 2021, 08:46:26 AM IST

Cadila Healthcare gets tentative USFDA nod for Brivaracetam tablets

Cadila Healthcare Ltd said it has received tentative approval from USFDA for Brivaracetam tablets. Brivaracetam is used to treat partial-onset of seizures (epilepsy). The drug will be manufactured at the group’s formulation manufacturing facility at the SEZ, Ahmedabad.

14 Jun 2021, 08:37:01 AM IST

Why Anil Ambani’s ADAG group stocks are rising — explained

Anil Ambani companies listed at stock market scaled more than 5% on Friday hitting upper circuit as well. The Anil Dhirubhai Ambani Group or ADAG group share Reliance Infra hit its 52-week high on 11 June and gave more than 15% profit to its share holders last week. Similarly, Reliance Naval share price hit upper circuit on Friday giving around 19% return to the shareholders in last five trade sessions. (Read here)

14 Jun 2021, 08:18:49 AM IST

Market outlook

The markets are likely to be rangebound on Monday while trends in SGX Nifty suggest a negative opening of Indian benchmark indices. On Friday, the BSE Sensex ended at 52,474.76, up 174.29 points or 0.33% and the Nifty closed 15,799.35, up 61.60 points or 0.39%.

14 Jun 2021, 08:07:27 AM IST

Price of petrol & diesel in Delhi at ₹96.4/litre & ₹87.28/litre

In Bhopal, petrol at 104.59/litre & diesel at 95.91/litre; in Ladakh petrol at 101.95/litre & diesel at 93.90/litre; in Mumbai petrol at 102.58/litre & diesel at 94.70/litre

14 Jun 2021, 08:05:16 AM IST

Stocks to Watch

Adani Enterprises, Bharat Forge, Coal India, DLF, Ruchi Soya, among other stocks could in the news today. (Read here)

14 Jun 2021, 07:57:56 AM IST

Naftali Bennett sworn in as Israel’s new PM

Naftali Bennett was on Sunday sworn in as Israel’s new Prime Minister, ending Benjamin Netanyahu’s 12-year hold on power and the political uncertainty that gripped the Jewish nation for months after inconclusive elections.

Bennett, the 49-year-old leader of the right-wing Yamina party, took oath of office after the Knesset (Parliament) elected him as the 13th Prime Minister of Israel by approved with a razor-thin majority of 60-59 in the 120-member house. One lawmaker abstained.

His government has 27 ministers, nine of them women. (PTI)

14 Jun 2021, 07:49:23 AM IST

Oil rises above $71 as traders assess rising demand, Iran talks

Oil gained above $71 a barrel as the roll-out of coronavirus vaccines underpins an improved demand outlook in the U.S. and Europe.

West Texas Intermediate advanced 0.4%, after rallying by 1.9% last week to hit the highest level since October 2018. Americans are becoming increasingly comfortable meeting friends, going back to workplaces, and attending large-scale events, according to a CBS News survey, as U.S. daily air travelers topped two million for the first time since the pandemic began. (Bloomberg)

14 Jun 2021, 07:45:17 AM IST

Bitcoin rises 9.8% to $39,035

Bitcoin surged 9.8% to $39,035.47 on Sunday, adding $3,492.71 to its previous close.

Bitcoin, the world’s biggest and best-known cryptocurrency, is up 40.7% from the year’s low of $27,734 on 4 Janury.

Ether, the coin linked to the ethereum blockchain network, surged 7% to $2,532.77 on Sunday, adding $165.77 to its previous close.

Tesla Inc. chief executive Elon Musk tweeted on Sunday that the electric carmarker will resume allowing bitcoin transactions when miners who verify transactions use more renewable energy. (Reuters)

14 Jun 2021, 07:25:37 AM IST

Asian markets closed, Japanese stocks rally

Tokyo stocks opened higher on Monday, tracking gains on Wall Street, with investors focusing on a Federal Reserve meeting this week.

Trading volumes are expected to be light with a number of holidays in the region including in Australia, China and Hong Kong. U.S. futures were steady after stocks staged a late rally Friday, closing at another record after a choppy day of trading

The benchmark Nikkei 225 index was up 0.72 percent, or 207.59 points, at 29,156.32 in early trade, while the broader Topix index gained 0.62 percent, or 12.19 points, to 1,966.21.

“The market is closely watching FOMC,” Toshikazu Horiuchi, a broker at IwaiCosmo Securities, told AFP, referring to a meeting of the US central bank’s Federal Open Market Committee.

S&P 500 futures rose 0.1% as of 8:15 a.m. in Tokyo. The benchmark climbed 0.2% to a record high Friday.

Nikkei 225 futures gained 0.3%.

SGX Nifty was down 0.29%

Never miss a story! Stay connected and informed with Mint.
Download
our App Now!!

costaalegrerestaurant.com | Newsphere by AF themes.