03:30 pm Record closing high: The Nifty was up 39.50 points
at 8996.25 while the Sensex gained 134.59 points at 29593.73. About 1667 shares
advanced, 1188 shares declined and 221 shares were unchanged. TCS, Reliance
were top contributors to Nifty gain today. Cipla, Bajaj Auto and HDFC were
other gainers in the Sensex. Losers include Coal India, M&M, Axis Bnak,
Tata Motors and NTPC.
03:15 pm Connecting 4G: Top telecommunications carrier
Bharti Airtel Ltd said it would collaborate with China Mobile Ltd on growing
fourth-generation (4G) mobile data services.
The two companies will also work on a joint strategy for procurement of 4G
devices including smartphones, Bharti Airtel said in a statement.
Bharti Airtel operates 4G networks in some Indian cities. Operators in China
and India are launching 4G on the TD-LTE technology standard, while most of the
western world uses a different technology for 4G.
03:00 pm Market at record high: The market hits record high
just few days after the Budget 2015 was presented by the Finance Minister Arun
Jaitley. The Nifty is up 43.35 points at 9000 while the Sensex is up 150.81
points at 29609.95. About 1625 shares have advanced, 1160 shares declined, and
210 shares are unchanged.
02:45pm Market Update: The Sensex climbed 146.84 points to
29605.98 while the Nifty rose 24.70 points to 8981.45.
About 1576 shares have advanced, 1177 shares declined, and 219 shares are
unchanged on the BSE.
02:42pm Nectar on buyers' radar: Investors lapped up more
shares of Nectar Lifesciences on Tuesday after the hearlthcare firm has
received approval from European cGMP for Cephalosporin APIs' manufacturing
facility in Dera Bassi, Punjab. The stock rallied 15 percent intraday. cGMP is
current good manufacturing practices.
This approval is valid for three years from calendar year 2015 to 2017.
"Nectar has received the European cGMP compliance certification through
successful inspection by the Portugal Authoriy - National Authority of
Medicines and Health Products, INFARMED," said the company in its filing.
The facility is already approved by USFDA, MCC - South Africa, PMDA - Japan,
OGYI - Hungary and KFDA - South Korea.
The European Union market for Cephalosporin's is currently valued at USD 1.5
billion between injectable and oral molecules.
02:25pm Airtel in News: Indian telecom major Bharti Airtel
and world's largest telecom operator China Mobile today announced a partnership
to work jointly on evolving high technologies like 5G and procuring telecom
devices and equipment.
The agreement was signed by China Mobile Chairman Xi Guohua and Bharti
Airtel founder and Chairman Sunil Bharti Mittal. "We are delighted to
announce this landmark agreement with China Mobile.
02:00pm Market check: The market continued to be volatile
in afternoon trade as the Nifty has been moving in a tight range of 8950-8990
levels on the upside. Pharmaceutical, technology, capital goods, HDFC group
stocks along with index heavyweight Reliance Industries supported the market.
However, FMCG and banks remained under pressure.
The 30-share BSE Sensex advanced 85.09 points to 29544.23 and the 50-share
NSE Nifty rose 18.90 points to 8975.65. The BSE Midcap index gained 0.8 percent
and Smallcap rallied 1.2 percent.
The market breadth remained in favour of gainers as advancing shares
outnumbered declining ones on the Bombay Stock Exchange in the ratio of 1506 to
1163.
"There are two very strong forces in the market. One is the positive
momentum and the tailwind coming from improving macros,” said Ritu Arora of
Canara HSBC OBC Life Insurance. “But the reality, which is a headwind, also
remains that corporate earnings [are bad]," she added.
While in the near term, she said the market would be rangebound, over the
long term, “this building momentum should lead to double digit returns over
three and five years.”
Reliance Industries extended gains, rising 4.5 percent. CLSA recommended
buying the stock on weakness as the stock is at a discount to own as well as
peer valuations. A media report indicated that LIC increased its stake in
Reliance Industries by 2.1 percent.
Shares of TCS, HDFC, Sun Pharma, Cipla, Dr Reddy's Labs, Wipro and Bajaj
Auto rallied 1-3 percent whereas Axis Bank, Tata Motors, Mahindra &
Mahindra and ITC fell 1-3 percent. Coal India remained under pressure, down 4.9
percent as it went ex-dividend today. More information please visit this site www.bigprofitbuzz.com
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