Tuesday, 23 December 2014

Nifty ends below 8300 ahaed of F&O expiry, Sensex falls 195

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As of the expiration of the tender offer, a total of 17,018,378 shares were validly tendered and not withdrawn in the offer, representing around 82 per cent of Cadista Holdings' currently outstanding shares not already owned by Jubilant Generics and its affiliates, it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 information please visit this site www.bigprofitbuzz.com

1 comment:

Nifty Tips said...

Jindal Steel and Power has moved higher by 7% to Rs 146 on NSE after the company said it has raised Rs 500 crore by issuing 5,000 non-convertible debentures for cash to Kotak Mahindra Bank.
Commodity Tips