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Infosys shares gained after the software exporter signed a deal with Envision AESC to develop cloud-based platform to digitise the latter's EV battery manufacturing units.
The stock rose as much as 1.26%. Of the 49 analysts tracking the company, 43 maintain 'buy', four suggest 'hold' and two recommend 'sell'. The return potential of the stock implies an upside 7.6%.
Source: Bloomberg, Exchange filing
Domestic air passenger rose 27% year-on-year to 1.14 crore Vs 89.85 lakhs in September.
IndiGo market share 56.7% Vs 57.7% in September.
Vistara market share 9.2% Vs 9.6% in September.
Air India market share 9.1% Vs 9.2% in September.
AirAsia India market share 7.6% Vs 5.9% in September.
SpiceJet market share flat at 7.3% in September.
Go Air market share 7.0% Vs 7.9% in September.
Akasa Air market share 1.4% Vs 0.9% in September.
Source: DGCA
The deal includes cooperation in the areas of R&D and manufacturing services for Polaroid Film and Polaroid Sciences.
The MSA anticipates, based on historical data of the existing supply agreement between the two companies, an overall revenue of approx Rs 121.5 crore over the partnership period of minimum 3 years.
Polaroid is the holding company of the global Polaroid group of companies which is known for instant photography products.
Source: Exchange filing
Dr. Reddy's Laboratories, it's unit, along with Celgene, Bristol Myers Squibb and several drug makers were named defendants in a complaint filed in the district of New Jersey in the U.S.
The complaint, on behalf of indirect purchasers, states that the drug makers improperly restrained competition and maintained shared monopoly in the sale of Revlimid through respective patent litigation settlements.
The complaint alleges that agreements "improperly delayed generic entry entirely until 2022 and then improperly limited generic competition through 2026."
It seeks damages for purported overpayments and equitable relief.
Dr. Reddy's Laboratories said that the allegations lack merit and it will vigorously defend the litigation.
The stock traded almost flat, down 0.06%. Of the 42 analysts tracking the company, 34 maintain 'buy', six suggests 'hold' and two recommends 'sell'. The return potential of the stock implies a downside of 15.1%.
Source: Bloomberg, Exchange filings
The broader indices underperformed their larger peers with mid-cap gaining 0.18% and small-cap losing 0.12%.
Thirteen out of the 19 sectoral measures complied by BSE advanced, with BSE Commodities and Consumer Durables gaining the most.
The market breadth is skewed in the favour of bears. About 1,621 stocks rose, 1,705 fell and 167 remained unchanged.
B9 Beverages, the maker of Bira 91 beer, has raised Rs 570 crore ($70 million) from Japanese beverages group Kirin Holdings in a Series D round.
Kirin had earlier invested around $30 million in Bira for a 10% stake.
Bira said it will use the funds to commission new breweries, expand existing facilities and increase the company’s distribution footprint internationally as well.
Source: Company statement
Shares of Kaynes Technologies listed at Rs 775 per share on the BSE, a premium of 32% to its IPO price of Rs 587.
On the NSE, the stock listed at Rs 778, a 32.5% premium.
Its IPO was subscribed 34.16 times.
Source: BSE, NSE
The broader indices almost mirrored their larger peers with mid-cap and small-cap gaining 0.15% and 0.01% respectively.
Twelve out of the 20 sectoral measures complied by BSE declined, with BSE Oil & Gas losing the most.
The market breadth is skewed in the favour of bulls. About 1,374 stocks rose, 1,077 fell and 100 remained unchanged.
Glenmark Pharmaceuticals and its U.S. unit have reached a settlement agreement with Pfizer Inc., PF Prism C.V. and PF Prism IMB B.V. (Pfizer) for Axitinib Tablets.
The drug, which is the generic version of Pfizer's Inlyta Tablets, is used to treat cancer.
Glenmark, on Nov. 30, 2020, received tentative approval by the United States Food & Drug Administration (U.S. FDA) for their generic Axitinib Tablets of doses 1 mg and 5 mg.
Source: Exchange filing
Yield on the 10-year bond opened flat at 7.32% on Tuesday.
Source: Bloomberg
Asia Stocks Mixed As Traders Mull China Covid Path: Markets Wrap
Archean Chemical Industries: Quant Money Managers bought 6.5 lakh shares (0.53%) at Rs 452.59 apiece.
Delhivery: Morgan Stanley Asia (Singapore) Pte.-ODI bought 48.55 lakh shares (0.67%) at Rs 330 apiece, CA Swift Investments sold 1.84 crore shares (2.53%) at Rs 330.02 apiece.
Easy Trip Planners: Saint Capital Fund bought 22 lakh shares (0.2%) at Rs 52.5 apiece, Dharampal Satyapal Ltd. sold 25 lakh shares (0.23%) at Rs 54.1 apiece.
Hindustan Construction Company: IDBI Trusteeship Services sold 1.1 crore shares (0.73%) at Rs 17.82 apiece.
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