Nifty Gives Up Early Gains, Keeps The Bulls In The Hunt

Published 03-06-2016, 04:30 pm
Updated 09-07-2023, 04:02 pm


Indian market: Nifty 50 opened gap up at 8261 this morning and traded in favor of the bulls before it made a high of 8277. The index later gave up on its gains and slipped to levels of 8226 towards the end of the day’s session before closing at 8234. The bulls lost their upper hand even as the index was weighed down by underperformance of heavy weights like SBI (NS:SBI), Bharati, Lupin (NS:LUPN), BHEL and GAIL. The benchmark index however lost its shine in the last hour of the day’s trade as it settled below the day’s average of 8251.

International Market: Global markets continued to remain in a range with a positive bias even as the S&P traded between 2101 and 2105 while the German Dax traded in range of 65 points between 10220 and 10285. Global markets however were let down by the outcome of the OPEC meet where Iran’s Oil minister rejected any possibility that productions could be capped.

Nifty

NATCO recives USFDA tentative approval for Sorafenib Tablets, 200 mg

Natco Pharma Limited in an announcement today declared that its marketing partner, Mylan Inc (NASDAQ:MYL). has received a tentative approval for its Abbreviated New Drug Application (ANDA) for Sorafenib Tablets, 200 mg, with the US Food and Drug Administration (USFDA). Sorafenib Tabs developed by NATCO is the generic version of NEXAVAR®, which is applied for the treatment of certain types of cancers. With this new filing Natco Pharma Share Price is currently trading at Rs 510.00, up by 6.96 per cent. The Share price opened at Rs 480.05 from a previous closing of Rs 476.75.

Hero Motocorp Further Augments Global Leadership Team

Hero MotoCorp (NS:HROM), a global leader in two wheeler manufacturing in a recent announcement today said that it has appointed Malo Le Masson as the Head of Global Product Planning Team.
With this the Company further strengthened its Senior Leadership Team. Prior to this Malo was associated with Infiniti Premium car Brand - Nissan Motor. Malo had been associated with the Nissan Motor Co., contributing in various projects and product planning roles at Global as well as European level. Malo has acquired expertise on Project Management, Competitive Analysis, Strategy Analysis, Business Planning, Market Analysis Pricing, Electric Vehicles Engineering and Product Marketing.

High on G.M. Breweries

Dynamic Levels recommends buy in GM Breweries Ltd at its CMP of 650 for a long term horizon with a potential of 100% appreciation in the stock prices of GM Breweries Ltd for a target of 1300. The company has impressive ratios - RoE is 32.31%, RoA is 53.59% and Interest coverage ratio is 44.83 and all the arguments above make it a must have Multibagger Stock and there is no second thought that the stock needs to be a part of an investor’s portfolio.

Set up in the year 1981 by Shri Jimmy William Almeida, GM Breweries Limited (GMBL) is engaged in the activities of manufacturing and marketing of Alcoholic Beverages; such as Country Liquor (CL) and Indian made Foreign Liquor (IMFL).

The company has manufacturing plant located in Virar, Maharashtra. It has strong presence in the state of Maharashtra, with a capacity to produce about 50,000 cases a day. Initially the Company started producing 200 cases a day which has now reached to more than 50,000 cases a day. It was one of the pioneers to introduce pet bottles in Indian liquor industry.

Disclaimer

The investment advice or guidance provided by way of recommendations, reports or other ways are solely the personal views of the research team. Users are advised to use the data for the purpose of information and rely on their own judgment while making investment decision

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