The Nifty gained 47 points to close at 3,605.\n\n
Favipiravir is the only oral anti-viral treatment approved in India for potential treatment of patients with mild to moderate Covid-19 disease.
Benchmark indices Sensex and Nifty retreated from over one-week highs to close lower on Wednesday due to profit booking in banking, IT and metal stocks amid weak global trends. After a two-day rally, the 30-share BSE Sensex dropped by 90.99 points or 0.16 per cent to settle at 57,806.49 in volatile trade. As many as 19 of its constituents declined while 11 advanced. The broader Nifty slipped by 19.65 points or 0.11 per cent to close at 17,213.60 with 31 of its stocks ending in the red.
The Sensex opened past the 8,200-mark at 8,208 as against Wednesday's close of 8,189 and later rallied smartly to a high of 8,252.
With rains once again lashing Mumbai, the Sensex opened weak and is now down 20 points at 7616. Nifty is down 8 points at 2304.
'The correction could take two to three months and traders need to be careful.' 'For investors, this could be a good time to nibble in.'
Reinvent and innovate will be the key mantra for the Indian pharma industry in the New Year as the 'pharmacy of the world' looks to move from volume to value leadership, amid emerging challenges of inflation and pricing pressures in the global markets. While R&D investment, market competitiveness, regulatory scrutiny, and domestic price regulations are expected to shape the growth of generics and injectable products, concerns such as price control and customs duties on medical equipment will continue to bother the healthcare industry in 2023. The industry believes that in view of India's G20 Presidency, digital health innovation, achieving universal health coverage, improving healthcare infrastructure and delivery will continue to be the key driving factors in 2023.
Domestic pharma major Panacea Biotec in collaboration with Russian sovereign wealth fund Russian Direct Investment Fund (RDIF) has begun the production of 'Sputnik V' COVID-19 vaccine in India, according to a joint statement issued.
By keeping the Sanatana Dharma row alive and adding the Ayodhya temple consecration scheduled for January 22 and adding the free darshan promise from four polled states to the entire country, the BJP may have a self-fulfilling concoction, predicts N Sathiya Moorthy.
The index touched a low of 14,026, before settling with a loss of 168 points at 14,041.
The Sensex opened marginally (six points) higher at 5,657. Weakness in Infosys and Dr.Reddy's in early morning deals pulled down the index to an intra-day low of 5,623.\n\n
Being a successful investor is all about making the most prudent investment decisions, even if they are dull and boring.
The markets opened in the positive terrain after seeing a flat close yesterday
Indian drugmakers' domestic sales of ready-to-take medicines in January-March could be lower than expected as distributors suspended stocking in anticipation of a new value-added tax system coming into force, analysts and industry members said.\n\n\n\n
The markets opened flat on the back of weak Asian and US cues
The Sensex opened with a positive gap of 20 points at 10,133.
After exhibiting high volatility in early trades, the Sensex closed with a marginal loss of 22 points at 9,849.
Late selling in the market saw the Sensex close seven points lower at 9,374.
The Sensex is holding on to its gains on steady gains in techs, PSUs and heavyweights, and is now up 32 points
Some of our leaders were busybusy over the weekend.
Questioning the team's authority headed by a former Patna high court judge, Banerjee pointed out that Ram Navami processions organised by the Bharatiya Janata Party had carried arms and driven tractors and deliberately taken routes where 'Namaz' was being offered.
Details on prices sought as 10 generic drugs become up to 83 times costlier in 6 months
Shree Cement beats ACC in market value, Lupin ahead of Dr Reddy's Labs
The Sensex opened on a positive note at 7,556 and soon gathered momentum to rise above the 7,600-mark.
Foreign portfolio investors (FPIs) who invest from Mauritius into Indian companies that dole out bonus debentures will get impacted by the tax avoidance provisions on bonus stripping. The FY23 Budget has extended these provisions - applicable only to MFs, so far - to shares and units of REITs, InvITs and AIFs. The move will especially affect large institutional investors who sell original units within nine months after the record date because the loss arising from sale of original units would have to be ignored for the purposes of computing taxable income and cannot be set off against any other capital gain.
Tech Mahindra was the top loser in the Sensex pack, shedding over 3 per cent, followed by NTPC, IndusInd Bank, Kotak Bank and Reliance Industries. NSE Nifty fell 185.60 points to 17,671.65.
Samajwadi Party patriarch Mulayam Singh Yadav is among six personalities chosen for this year's Padma Vibhushan.
'Politics is a game of public perception and my father felt that by his long disappearances, Rahul Gandhi was losing the battle of perception.'
IT sector's trading multiples hit post-Lehman lows, providing good entry points.
Concessional rate of tax on dividends received by Indian companies from foreign subsidiaries will be done away with from April 1, a change that may hamper global expansion of Indian companies and compel some firms to move their headquarters out of India to geographies such as Singapore and Dubai. At present, dividends received by Indian companies from their foreign subsidiaries are subject to a concessional tax rate of 15 per cent under Section 115BBD of the Income Tax (I-T) Act. The provisions of this section shall not apply from assessment year 2023-24 onwards, according to the Finance Bill.
The markets displayed volatility with the Sensex clocking a high of 6,587 and a low of 6,509.
The BSE Sensex opened with a positive gap of 10 points at 5,179. Fresh buying in the markets led the index spurt to a high of 5,204. The index is now at 5,195, up 26 points. The Nifty is up 7 points at 1,634.
In a virtual conference from Moscow, Dmitriev said Sputnik V is not only 'one of the most effective' but also among the 'affordable' vaccines in the world.
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