Skilling of people to use new technology in manufacturing should be encouraged, said Sun Pharma MD Dilip Shanghvi
After swinging 439 points during the day, the 30-share Sensex ended 141.33 points, or 0.38 per cent, lower at 37,531.98. It hit an intra-day low of 37,480.53 and a high of 37,919.47.
On Monday, the biggest gainers in the Sensex pack were Sun Pharma, Bajaj Finance, Vedanta, Yes Bank, Tata Motors, HCL Tech, IndusInd Bank and Kotak Bank, HCL Tech, Infosys and Bajaj Auto.
After a detailed scrutiny, fair trade watchdog CCI has suggested Sun Pharma and Ranbaxy to make certain changes in their proposed $4 billion merger deal, including possible divestment of some brands, to address anti-competitive concerns.
The m-cap of ITC slumped Rs 19,958 cr to Rs 2,58,300 cr, taking the steepest hit among the top-10 firms
ONGC was the top gainer in the Sensex pack, rallying over 13 per cent, followed by HCL Tech, Hero MotoCorp, NTPC, TCS, M&M, Infosys and Maruti. NSE Nifty soared 306.55 points, or 3.21 per cent, to 9,859.90.
M-cap of RIL surged Rs 22,358.6 cr to Rs 2,92,392.91 cr
Reliance Industries was the only stock which defied the broader market trend
Top gainers in the Sensex pack included Tata Steel, Vedanta, SBI, Tech Mahindra, Bajaj Finance, Asian Paints, M&M, NTPC and PowerGrid, rising up to 3.95 per cent.
Tata Steel and Axis Bank were among the top gainers in the Sensex pack, surging up to 6.67 per cent following their March quarter results.
Tata Motors, Maruti, Tata Steel, Vedanta, Bajaj Auto, IndusInd Bank, SBI, Hero MotoCorp, M&M, Asian Paints, Axis Bank, RIL and L&T too jumped up to 10.21 per cent.
Major losers include Lupin 1.96 per cent, along with Tata Motors, Coal India and Sun Pharma.
Top gainers in the Sensex pack included Bharti Airtel, SBI, Tata Steel, Vedanta, NTPC, HDFC Bank, HCL Tech, ONGC, ICICI Bank and L&T, which rose up to 2.97 per cent.
Bharti Airtel, Bajaj Finance, Bajaj Auto, Reliance Industries, Tata Motors, SBI, HUL, NTPC, ONGC, ITC and Asian Paints rose up to 2.19 per cent.
The broader NSE Nifty rose 47.50 points, or 0.43 per cent, to 11,105.35. During the day, it climbed a peak of 11,141.75 and touched a low of 11,049.50.
Tata Steel was the top gainer in the Sensex pack, rallying 3.23 per cent, followed by SBI, Yes Bank, Hero MotoCorp, ICICI Bank and Bharti Airtel.
Aespite an enviable track record, Sun Pharma's MD has always been modest about his achievements.
Top losers in the Sensex pack included IndusInd Bank, Bharti Airtel, Tata Motors, Axis Bank, Kotak Bank, Bajaj Auto, Yes Bank, HCL Tech, HUL and Hero MotoCorp, falling up to 4.36 per cent.
Sun Pharma's acquisition of Ranbaxy has once again revived evaluation of the troubled past of the latter, which had changed hands from the promoters merely five years ago.
Top gainers in the Sensex pack included Vedanta, Tata Steel, Yes Bank, Tech Mahindra, Hero MotoCorp, Bharti Airtel, SBI and Bajaj Finance and IndusInd Bank, which rose up to 4.83 per cent.
The combined market valuation of top seven Sensex companies tanked by a whopping Rs 1 lakh crore in the past week, with TCS, ONGC and RIL taking the steepest hit.
NTPC was the top gainer in the Sensex pack, rallying 3.44 per cent. Bharti Airtel, Bajaj Finance, TCS, HDFC twins, Yes Bank and RIL too gained up to 2.33 per cent.
India's antitrust regulator has approved Sun-Ranbaxy deal, subject to the companies divesting seven products.
The FDA has been tightening its monitoring of Indian pharma majors over compliance issues. Surprise plant inspections and import alerts have been frequent outcomes
Sun Pharmaceutical Industries will take a call on whether to shut Ranbaxy's troubled factories or make changes in the top management of the latter only after its $4-billion acquisition deal is complete.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Sectorally, BSE healthcare, capital goods, power, oil and gas, metal, auto, energy and banking indices fell up to 3.53 per cent.
ONGC was the top loser in the Sensex pack, followed by HCL Tech, SBI, ICICI Bank, IndusInd Bank, Hero MotoCorp and M&M.
Amneal Pharmaceuticals is set to pip Sun Pharma as the fifth largest generics maker in the US, reports Sohini Das.
Reliance Industries, HDFC Bank, Tata Steel, Sun Pharma and ITC were the top Sensex dragging the benchmark 93 points lower.
Top gainers in the Sensex pack included ONGC, HDFC, Bharti Airtel, Infosys, Maruti, HCL Tech, Mahindra and Mahindra, HUL, TechM and SBI -- rising up to 2.89 per cent.
Sun Pharma was the biggest loser among Sensex components, plunging 3.94 per cent, followed by Tata Steel falling 3.12 per cent.
Sun's acquisition of Ranbaxy would create the fifth-largest specialty generics company in the world and the largest Indian pharma company, with an estimated revenue of $4.2 billion.
Other losers included Maruti, Kotak Bank, Hero MotoCorp, Bajaj Auto, IndusInd Bank and Bajaj Finance, that shed up to 1.79 per cent.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Top gainers in the Sensex pack were Tata Motors, ONGC, Yes Bank, IndusInd Bank and Vedanta -- rising up to 2.71 per cent.
The broader NSE Nifty fell 78.75 points, or 0.70 per cent, to close at 11,234.55.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The 30-share Sensex of the Bombay Stock Exchange closed 86.55 points higher at 21,337.67 and the National Stock Exchange Nifty index closed at its highest closing levels in 2014, up 25.15 points at 6,338.95.
Reliance up 0.94%, Sun Pharma up 2.85, ICICI Bank up 0.76%, Bharti Airtel up 1.56% and Tata Steel up 2.2% were the top Sensex gainers today.
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