Biocon on Thursday said its board has approved to acquire 1.5% equity share capital for Rs 550 crore in Biocon Biologics, from one of its existing investors who decided to exercise the liquidity option, in an all cash deal. Post this purchase, Biocon’s stake in Biocon Biologics will be 90.2%. The purchase is expected to … Read more
“23,000 is a support level that we are looking at and on the upside 23,500 is the resistance that we are looking at. Although if it fails to hold 23,000, we could see a more downside move towards 22,650 levels. Now, this is the range and the band coming out for Nifty,” says Shivangi Sarda, … Read more
After BSE has announced that it will discontinue Bankex weekly expiries, the market is rife with speculations that NSE may choose Nifty Bank over Nifty as both exchanges have to pick one expiry under new Sebi rules. Nifty Bank brings in higher volumes for the exchange, and better trading opportunities for speculators, but if Nifty … Read more
“I think the time has come for them to really take charge or take lead or join the overall bullish camp and that is what is sort of happening. A lot of people have started to relook at HDFC Bank,” says Rohit Srivastava, Strike Money Analytics & Indiacharts.What are you reading of this kind of … Read more
Brokerage firm JPMorgan maintained an overweight rating on LIC Housing Finance, Nomura has a buy rating on Info Edge, BofA Securities recommended a buy on Biocon and Jefferies upgraded M&M to buy. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: JPMorgan on LIC Housing: Overweight| Target Rs … Read more
Indian market is expected to open higher on Friday tracking positive global cues. The Nifty future closed positive with gains of 0.28% at 21983 levels on Thursday. India VIX was down by 4.65% from 16.33 to 15.57 levels. Volatility cooled off after steaming in the entire week and paved the way for the bulls in … Read more
Indian benchmark indices ended Friday in the green, maintaining their two-session gaining streak on buying action in IT and auto stocks. The S&P BSE Sensex finished at 72,026, up by 178.58 points or 0.25%. Meanwhile, the broader Nifty settled at 21,710.80, higher by 52.20 points or 0.24%. India VIX, a measure of volatility in Nifty, … Read more
Mumbai: The benchmark Nifty has only corrected 2.5% in October so far, but granular data suggests bigger woes for investors. One such number, the advance-to-decline ratio for Nifty 500 stocks this month stands at 0.39, marking its lowest level in sixteen months, thereby underscoring the severity of the ongoing correction. This metric provides a deeper … Read more
Representational image only. | Photo Credit: The Hindu Biocon Limited on October 18 said the U.S. health regulator has classified as ‘official action indicated’ for the manufacturing facility of group firm Biocon Sdn Bhd at Johor, Malaysia following an inspection. The OAI (Official Action Indicated) status may cause delay and/or withholding of pending product approvals … Read more
Indian market is likely to consolidate on Thursday tracking muted global cues. The S&P BSE Sensex fell more than 200 points while the Nifty50 closed below 19400 levels in the previous trading session. India VIX was down by 0.68% from 11.01 to 10.93 levels on Wednesday. Volatility sunk lower and is hovering near its lower … Read more