Closing Bell: Sensex erases losses to end flat, Nifty above 10,750; pharma gains big

The Indian market ended on flat note after witnessing volatile trading during the day as bulls took control in the last hour of trading supported by major pharma companies.

The PSU banking index rose nearly 2%, while midcap and smallcap outperformed the main indices.

The Sensex down 19.41 points at 35443.67, and the Nifty down 0.70 points at 10767.70.

Sun Pharma, Dr Reddy’s Labs, SBI, Tata Motors, Reliance Industries, Lupin, Cipla and Gail are the top gainers on the indices.

: Dhanuka Agritech has received environment clearance (EC) for setting up a pesticide unit in Bharuch district of Gujarat at a cost of Rs 90 crore.

The proposed unit with a manufacturing capacity of 3,415 tonne per month technical grade pesticides will be established at the Dahej-III Industrial Estate in Bharuch.

The Environment Ministry has given the EC to Dhanuka's proposal after taking into account the recommendations of an expert committee, a senior government official said.

Mutual Fund asset base dips Rs 66,000-cr in May to Rs 22.6 lakh cr

The assets under management (AUM) of the MF industry, comprising 42 players, were at Rs 23.25 lakh crore in April-end, according to the latest update with Association of Mutual Funds in India (AMFI).... Read More

Tata Motors group global wholesales in May 2018, including Jaguar Land Rover, were at 107,343 units, higher by 24 percent, over May 2017.

Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range in May 2018 were at 40,989 units higher by 45 percent, over May 2017.

Global wholesales of all passenger vehicles in May 2018 were at 66,354 units higher by 14%, compared to May 2017.

Fortis: Unaware of creditors thinking of moving NCLT, vendors' dues will be cleared soon

Fortis Healthcare on Friday clarified that it was not aware of any creditors or vendors considering moving the National Company Law Tribunal (NCLT) to recover their dues, as reported by a daily.... Read More

Sun Pharmaceutical Industriessurged 9 percent during the day’s trade as investors cheered a regulatory development on the stock.

According to a report on CNBC-TV18, the company has received a voluntary action initiated (VAI) status for its Halol plant from US FDA.

For the uninitiated, VAI status would imply that there would be no re-inspection required at its Halol unit.

The US Food and Drug Administration (FDA) had issued three observations to the unit in February.

Mukesh Ambani keeps salary capped at Rs 15 crore for 10th year in a row

Mukesh Ambani has kept salary, perquisites and allowances and commission together at Rs 15 crore since 2008-09, forgoing almost Rs 24 crore per annum.... Read More

The market has extended its fall from the morning, with the Sensex falling almost 200 points, while the Nifty is trading around 10,700. Sectors such as information technology and pharmaceutical names are holding the fort for D-Street, while other sectoral indices are trading in the red. Banking names are down almost a percent along with metals, and infra names. Meanwhile, midcaps, have continued to trade flat. Pharma stocks have maintained their lead on gainers’ list for Sensex and Nifty. Sun Pharma and Dr Reddy’s Laboratories have gained 3.-5 percent, while Power Grid, HDFC, and Hindalco have seen some weakness today.

Cipla partnered with Eli Lilly and Company for the marketing and distribution of Lilly’s BASAGLAR (insulin glargine injection) in India.

Under this agreement, Lilly’s BASAGLAR that is manufactured by Lilly will be marketed and distributed in India by Cipla.

At 12:40 hrs Cipla was quoting at Rs 549, up Rs 8.75, or 1.62 percent on the BSE.

The Debenture Committee of Capital First approved the allotment of rated, listed, unsecured, redeemable, non-convertible debentures (NCDs) worth of Rs 100,00,00,000 on private placement basis.

At 12:25 hrs Capital First was quoting at Rs 571.10, down Rs 2.65, or 0.46 percent.

Luggage companies had a stellar run - what should you do now?

Although the medium to long-term outlook is extremely positive and the companies do not really see a problem in growing their revenue, investors got to keep in mind the pressure to near-term earnings especially in the context of the valuation.... Read More

Global brokerages bet on these 10 mid & smallcaps that could return 16-71%

In terms of returns, the BSE Midcap and Smallcap indices saw a cut of 11 percent and over 14 percent so far in 2018, compared to an over 1 percent return in the Sensex.... Read More

Share of Kwality touched 52-week low of Rs 30.10, locked at 5 percent lower circuit on report that the stock has been included in BSE's surveillance list.

According to CNBC-TV18, the share has been included in Additional Surveillance Measures (ASM) list.

The stock was also in the news as its Board will meet on June 20, 2018 to consider and approve the proposal for buyback of securities and/or bonus issue of securities.