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11
December 2018
 |
| financial markets (The Total Investment & Insurance Solutions) |
I had mentioned in Monday’s closing report
that Nifty, Sensex were headed for more losses. The major indices of the Indian
stock markets fell sharply in the morning and made a dramatic rally on Tuesday
and closed with gains over Monday’s close. On the NSE, there were 1,249
advances, 454 declines and 356 unchanged. The trends of the major indices in
the course of Tuesday’s trading are given in the table below: The Total Investment & Insurance
Solutions
The
market had lost significantly during the morning trade session on the sudden
resignation by RBI Governor Urjit Patel and early election trends which showed
BJP losing in Rajasthan and Chattisgarh state elections and trailing Congress
in Madhya Pradesh.
Software
major Tech Mahindra on Tuesday announced key leadership appointments in India
to accelerate its digital transformation. The leadership changes will be
effective from January 1, 2019, the company said in a statement. Jagdish Mitra,
currently the Chief Strategy & Marketing Officer, will take over the
responsibility of driving growth of the Enterprise Business. Manoj Chugh,
who is currently the Enterprise Business Head at Tech Mahindra, will take over
as President, Corporate Affairs at Mahindra & Mahindra Group. Sanjeev
Nikore, currently leading Strategic Initiatives, will now become Head of
Marketing at Tech Mahindra. Tech Mahindra shares closed at Rs696.00, up 1.18% on
the NSE.
Apple
has appealed against a Chinese court ruling that banned the sale and import of
most iPhone models after granting Qualcomm an injunction against Apple, a
stunning decision that comes amid the trade war between the US and China, CNBC
reported. Apple accused Qualcomm of playing dirty tricks, including asserting a
patent that had already been invalidated by international courts, and other
patents that it had never before used. "Qualcomm's effort to ban our
products is another desperate move by a company whose illegal practices are
under investigation by regulators around the world," Apple said in a
statement on Monday. The ban does not cover the new iPhone XS, iPhone XS Plus
or iPhone XR, which were not yet available when Qualcomm, an American microchip
maker, filed its lawsuit, CNN reported. The ruling was announced publicly on
Monday but put into effect last week, but Apple said in a statement that all
iPhone models remain available in China.
TCS and
Singapore Airlines have launched a co-developed solution for Airline industry
to digitally transform ground operations. TCS's Intelligent Airline Operations
(IAO) solution would help Airlines improve Operational efficiency and enrich
customer experience. TCS shares closed at Rs1,998.35, up 1.19% on the BSE.
Cadila
Healthcare reported that Liva Pharmaceuticals, its subsidiary, has received the
approval from the USFDA (Food and Drug Administration) for its supplemental
ANDA - Ranitidine Injection USP. It is used to treat stomach and duodenal
(intestinal) ulcers, and prevent them from recurring. The company’s shares
closed at Rs346.70, up 1.66% on the BSE.
The Total Investment & Insurance Solutions
Dr.Reddy's
Laboratories launched the OTC (over the counter) store brand equivalent of
Prilosec OTC® - Omeprazole Delayed-Release Tablets in US. It is a proton pump
inhibitor used to treat frequent heartburn occurring two or more days per week
in adults. The company’s shares closed at Rs2,710.00, up 0.76% on the BSE.
Strides
Shasun reported that Vivimed Pte. Ltd, a 50:50 JV (joint venture) of the company
in Singapore has received approval from the US FDA for its Albendazole Tablets
USP. It is an anthelmintic medication used to treat certain infections caused
by tapeworm. The company’s shares closed at Rs458.40, up 6.42% on the BSE.
Lupin
has received tentative approval for its Apixaban Tablets from the US FDA to
market a generic version of Bristol-Myers Squibb Company's Eliquis® Tablets.
The company’s shares closed at Rs835.35, up 2.49% on the BSE.
Titagarh
Wagons has been awarded a contract to manufacture and supply of 5,058 Wagons to
Indian Railways. These Wagons are BOXN HL type, designed to carry coal, steel,
stones etc. and the value of order is Rs1,560.87 crore. The company’s shares
closed at Rs71.60, up 7.59% on the BSE.
The Total Investment & Insurance Solutions
The top
gainers and top losers of the major indices are given in the table below:
The
closing values of the major Asian indices are given in the table below: The Total Investment & Insurance
Solutions
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