03:30 pm Market close
The market has ended lower ahead of December F&O expiry
day. The Nifty was down 57.00 points at 8267.00. The Sensex slipped 195.33
points at 27506.46. About 1070 shares have advanced, 1851 shares declined, and
115 shares were unchanged.
02:45pm Cipla bags order
Cipla Medpro, the third largest pharmaceutical company in
South Africa, has been awarded R2 billion share of the South African
Government’s 2015-17 National ARV tender. The contract is effective from the
April 1, 2015 and will run for a period of three years.
CEO of Cipla Medpro, Paul Miller, says that Cipla is proud
to have been recognised once again as a preferred partner of the State in the
national fight against HIV and Aids.
“We intend to continue this proud tradition and build on the
foundation laid to continue our quest of providing affordable healthcare to
all,” Miller adds.
This latest Government tender win is the third in the last
year for the growing pharmaceutical company, and follows Cipla Medpro winning a
R280 million state therapeutic drug tender (August 2014), a R345 million
national respiratory tender (June 2014).
02:25pm Jubilant Life in News
Jubilant Life Sciences has completed tender offer to acquire
all outstanding shares of Cadista Holdings Inc, thereby making the US-based firm
as its
wholly-owned subsidiary.
Jubilant Generics Inc, a subsidiary of the company has
successfully completed its previously announced Tender Offer for all of the
outstanding shares of Cadista Holdings Inc, Jubilant Life Sciences said in a
statement.
"Accordingly, Cadista Holdings has now become a
wholly-owned subsidiary of Jubilant Life Sciences Ltd," it added.
As of the expiration of the tender offer, a total of
17,018,378 shares were validly tendered and not withdrawn in the offer,
representing around 82 per cent of Cadista Holdings' currently outstanding
shares not already owned by Jubilant Generics and its affiliates, it said,
reports PTI.
02:00pm Market Check
Equity benchmarks fell more than 0.7 percent in afternoon
trade weighed by banking & financials, metals, oil & gas, capital goods
and technology stocks. The broader markets too were under pressure with the BSE
Midcap and Smallcap indices falling half a percent each.
The Sensex declined 199.74 points to 27502.05 and the Nifty
slipped 61.30 points to 8262.70. Two shares declined for every share advancing
on the Bombay Stock Exchange.
Andrew Holland of Ambit Investment Advisors says he is
nervous about the reform agenda slowing down. The market will be disappointed
if no Bills are passed by end of winter session today and that Nifty may settle
around the 8300 level in near term, he adds.
Sesa Sterlite topped the selling list in Sensex, down 4
percent followed by Tata Power and Tata Steel with 2-3 percent loss. ICICI
Bank, HDFC, Infosys, Reliance Industries, L&T, Tata Motors and ONGC were
down more than a percent. However, Bharti Airtel, Bajaj Auto and Hero Motocorp
bucked the trend, up 1-1.6 percent.
The rupee also remained under pressure due to month end
dollar demand from oil companies, down 17 paise to 63.41 a dollar while bond
yields were rangebound in holiday thin trade.
Global equities were mixed. Shanghai plunged 3 percent after
China's services trade deficit widened in November to USD 20.8 billion.
Meanwhile, European markets like CAC, DAX and FTSE gained 0.4-0.6 percent. More
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