Business Today

Sensex ends 47 points lower, Nifty settles in the red; NTPC tanks

The S&P BSE Sensex was settled at 29,413.66, down 47.79 points while Nifty50 was ended at 9,139.30, 11.50 points lower.

BT Online | April 17, 2017 | Updated 15:50 IST
Sensex ends 47 points lower, Nifty settles in the red; NTPC tanks

3.44 PM:

The S&P BSE Sensex was settled at 29,413.66, down 47.79 points while Nifty50 was ended at 9,139.30, 11.50 points lower.

GAIL was the top gainer on the BSE Sensex, adding over 4 per cent to the bourses.

NTPC was trading in the negative the whole day, ending as the  top laggard on the BSE.

1.32 PM:

Pharma Woes:

Alembic Pharmaceuticals today said no observations were issued by US health regulator USFDA after inspection of its Baroda facility.

The bio-equivalence facility was inspected by US Food & Drug Administration (USFDA) from March 6-10; March 13-17 and April 10-12, Alembic said in a filing to BSE.

"There were no 483s issued by USFDA at the end of the inspection," it added.

USFDA issues Form 483 observations to a firm's management at the conclusion of an inspection to notify it of objectionable conditions at the facility.

It is issued when investigator(s) has observed any conditions that in their judgement may constitute violations of the Food Drug and Cosmetic (FD&C) Act and related Acts.

Alembic stock was trading at Rs 626.80, up 0.35 per cent, in the afternoon trade on BSE.

12.50 PM:

Unichem Labs gets USFDA nod for arthritis drug

After US FDA announced 5 observations on Unichem's Goa Plant, its shares fell over 2 per cent.

However, the drug firm announced today that it has received approval from the US health regulator for Piroxicam Capsules, used in treatment of osteoarthritis and rheumatoid arthritis, in the US market.

In a BSE filing, Unichem Laboratories said "it has received ANDA approval from the United States Food and Drug Administration (USFDA) for Piroxicam Capsules USP 10mg and 20mg".

The approved product is therapeutically equivalent to Feldene Capsules 10mg and 20mg of Pfizer Inc.

Piroxicam is a non-steroidal anti-inflammatory drug (NSAID) indicated for relief of the signs and symptoms of osteoarthritis (OA) and rheumatoid arthritis (RA).

Unichem Laboratories said the product will be commercialised from its Goa plant.

"Active Pharmaceutical Ingredient will also be made in-house at Roha API Plant," it added.

Shares of Unichem Laboratories were trading 1.49 per cent higher at Rs 290 on BSE.

12.21 PM:

Infrastructure major Punj Lloyd's subsidiary has bagged an order worth Rs 312 crore from Yanbu Aramco Sinopec Refining Company (YASREF) in Saudi Arabia, the company said today.

"Dayim Punj Lloyd Construction Contracting Company (DPLL), a subsidiary of the company, has been awarded an EPC contract... in Yanbu, Saudi Arabia, worth Rs 312 crore, by the Yanbu Aramco Sinopec Refining Company Ltd (YASREF) in Saudi Arabia," Punj Lloyd said in a BSE filing.

It further said: "With this order, the group's order backlog stands at Rs 19,929 crore."

The stock was trading 2.65 per cent higher at Rs 23.20 on BSE.

12.16 PM:

Hours after the news of Indiabulls demerger the shares have surged over 12 per cent on the BSE.

12.11 PM:

Foreign portfolio investors (FPIs) net sold shares worth Rs 407.88 crore last Thursday, as per provisional data.

Domestic institutional investors (DIIs) bought shares worth net Rs 65.43 crore previously.

Globally, Asian stocks were trading lower over the brewing conflict over Syria, Afghanistan and Korean Peninsula.


Food prices rise, fuel prices drop:

March WPI at 5.7 per cent.

Primary Articles Inflation at 4.63 per cent vs 5 per cent on month on month basis.

Manufactured Products Inflation decline on a month on month basis at 2.99 per cent.

All commodities Index down 0.1 per cent on month on month basis.

11.47 AM:

NTPC falls nearly 3 per cent, becoming the top laggard on the BSE Sensex.

GAIL tops the index, adding 2.81 per cent to the bourse.

The Midcap index continues to trade flat.

11.37 AM:

Infrastructure major Larsen and Toubro's (L&T) construction arm has bagged orders worth Rs 2,694 crore across various business segments.

"The construction arm of L&T has won orders worth Rs 2,694 crore across various business segments," L&T said in a BSE filing today.

While its water and effluent treatment vertical has secured Rs 2,227-crore orders, the smart world communications business bagged a contract of Rs 180 crore from Greater Visakhapatnam Smart City Corporation.

The company's transportation infrastructure business has received an order worth Rs 287 crore for a road project in Maharashtra.

The stock of L&T traded 0.42 per cent higher at Rs 1,685 on BSE.

10.21 AM:


The CEO of Indiabulls real estate talks to CNBC TV18 about the approved restructuring into commercial leasing and developmental for sale.

The company will look for a strategic business partner or demerge the commercial leasing business.

In a BSE filing, the company said, "It considered the possibility of streamlining its existing 'residential', 'commercial' and 'leasing' businesses by segregating the 'commercial and leasing' business carried on by itself and/or through SPVs and vesting same into Indiabulls Commercial Assets Ltd."

9.37 AM:

The rupee was trading lower by 3 paise at 64.44 against the US dollar in early trade today on foreign fund outflows amid increased demand for the American currency from importers and a lower opening of the domestic equity market.

However, a weak dollar against major global currencies capped the losses, forex dealers said.

The domestic unit closed higher by 26 paise at 64.41 in the previous session on Thursday on account of fresh selling of the American currency by exporters, besides a weakness in the greenback overseas.

The Forex market remaind closed on Friday on the account of 'Good Friday'.

9.28 AM:

The US FDA inspected Unichem Lab's Goa unit from March 14-20, 2017 and issued 5 observations.

The shares of Unichem takes a beating falling over 2 per cent.

9.16 AM:

The benchmark Indian indices all opened flat on Monday's trade.

While global markets trade lower as geopolitical worries simmered after US President Donald Trump dropped the 'mother of all bombs' on IS target in Afghanistan, on the domestic front investors have a keen eye on the Wholesale Price Index (WPI)-based inflation data that will be released soon.

The S&P BSE Sensex was trading at 29,476.12, up 15 points while Nifty50 was trading at 9,157.55, up 6 points.

Sun Pharma is pulling the index down the most, losing 3 per cent followed by shares of ITC and Tata Steel.

The Midcap space is fLat with a positive bias.

Dr Reddy, ICICI Bank and Reliance were all BSE gainers in morning trade.


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