Morning Watch: ONGC Scales Up Energy Footprint, Biocon's New Drug Approved & More

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Morning Watch: ONGC Scales Up Energy Footprint, Biocon's New Drug Approved & More
Credit: © Reuters.

By Malvika Gurung -- The Nifty 50 Futures listed on the Singapore-based Exchange SGX, an early indicator for Nifty50 , was found trading marginally lower by 0.4% at 17,380 at 7:55 am on Friday, indicating the Dalal Street to open make a negative to muted start today, tracking weakness across some Asian markets, despite a broad rally across the Wall Street overnight. At the same time, the Dow Jones Futures was trading 0.31% lower.

Biocon (NS: BION ): Biocon Pharma, a subsidiary of the biotech major received the approval for its abbreviated new drug application for Mycophenolic Acid from the US health regulator, USFDA.

Tata Power Co. Ltd (NS: TTPW ): The electric power distribution company’s shareholders have approved the revision of a series of arrangements to keep its subsidiary Tata Power Solar Systems Ltd as an independent entity.

ONGC (NS: ONGC ): The state-owned major entered into an agreement with the Solar Energy Corporation of India on Thursday, to scale up its clean energy projects, in a bid to grab a stronger hold in the renewable space.

Bharat Dynamics Ltd (NS: BARA ): The defence ammunition manufacturer and the Indian Army have signed a contract worth Rs 471.41 crore for refurbishing IGLA - 1M missiles, which will last for 10 years, informed the defence PSU in a regulatory filing.

Cement Stocks: According to the domestic rating agency Crisil, the retail prices of cement is expected to rise further by Rs 15-20 in the upcoming few months and could touch an all-time high of nearly Rs 400/bag, due to the increasing cost pressure of inputs commodities, like coal and diesel.

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