Category Archives: Cipla

Indian Stock Market Gains Marginally; Dr Reddys Labs Touches 52-week High

Indian Stock Market gained in the last two hours of trading session. The market was helped by the buying witnessed in HDFC and ITC. BSE Sensex closed 51 points higher while NSE Nifty closed 13 points higher.

Pharmaceutical major Dr Reddys Labs touched 52-week high of Rs 1921 and the stock closed at Rs 1908. Idea Cellular also touched 52-week high of Rs 112. Other stocks touching 52-week high included ING Vysya Bank, K Sera Sera, Cipla, Bank of Maharashtra, Marico, Nahar Spinning, Pantaloon Retail, Oracle Financial, RS Software and SBI.

Indian Currency gained compared to US dollar and Euro. Gold price remained flat while Silver was up by 0.4%.

Fitch Ratings has again raised the alarm against the Indian economy and growth outlook. The rating agency has cited high fiscal deficit as a reason for upcoming downgrades for Indian economy.

Finance Minister was quick to respond to Fitch’s report of future downgrades for India. He added that India is not concerned about downgrade as he is confident of containing the fiscal deficit.

Indian Market Slips; European Indices Also Close Lower

Indian Stock market slipped on Monday after a very good start for the New Year 2013. Stock market experts are still positive about the movement of the Indian stock market. Goldman Sachs has given positive rating for Indian and Chinese markets.

BSE Sensex closed 93 points lower at 19691 and NSE Nifty closed 27 points lower at 5988. Among major losers in today’s trade were Larsen, Jaiprakash Associates, HDFC and HUL.

Goldman Sachs has given a strong guidance for Indian stock markets with 7000 as target for NSE Nifty by the year end. The brokerage house has upgraded the GDP growth for Asian region to 6.9 compared to earlier estimates of 6.2 per cent.

Bajaj Auto MD has expressed worries over lower sales in auto sector. He has pointed that Bajaj Auto expects flat sales in year 2013.

Major gainers in today’s session were BPCL, Maruti Suzuki, Cipla and Tata Steel.