The company said it will work closely with the USFDA and is committed to address these comprehensively within stipulated time.
Posts in category Business Standard
Here’s why the Nifty can rally to 18,200; Ravi Nathani explains (20-02-2023)
According to the technical analyst, the Nifty is in the process of forming an Inverse Head and Shoulder pattern, which is a bullish chart pattern.
MARKET LIVE: Sensex off day’s high, up 150pts; IT stocks rise, pharma down (20-02-2023)
Stock market live updates: Broader markets, meanwhile, were mixed Nifty MidCap 100 index outperformed Nifty SmallCap 100 index
Stocks to watch: HUL, United Breweries, Motherson, Sun Pharma, Paytm, Cipla (20-02-2023)
Stocks to watch: Samvardhana Motherson announced it is buying SAS Autosystemtechnik (SAS), which manufactures auto cockpit modules, from French company Faurecia for Rs 4,790 crore
Mutual funds’ collection through NFO drops 38% to Rs 62,000 crore in 2022 (19-02-2023)
Mutual funds’ collection through new fund offerings (NFOs) remained subdued in 2022, with asset management companies (AMCs) garnering over Rs 62,000 crore through new schemes, which was 38 per cent less compared to 2021.
However, higher number of NFOs were launched in 2022 compared to the preceding year. A total of 228 new schemes were floated last year, which was way higher than 140 launched in 2021, according to the data compiled by Morningstar India.
In the year 2022, fund managers focused on passive funds and fixed income categories like fixed maturity plans. In fact, number of fixed income NFOs seem to have doubled in 2022 over the previous year.
According to the data, a total of 179 open-end funds and 49 closed-end funds were launched in the calendar year 2022, and cumulatively, these funds garnered Rs 62,187 crore.
In comparison, 140 NFOs were floated in 2021 and cumulatively, these funds were able to mobilise Rs 99,704 crore and 81 new schemes were launched in 2020 raking i
Global trends, foreign funds movement to guide equities this week (19-02-2023)
With the third quarter earnings calendar coming to an end and no major domestic trigger in sight, equity investors will focus on global trends and foreign fund movement this week, analysts said.
Markets may face volatile trends amid derivatives expiry during the week, they added.
“Global cues and F&O expiry may cause volatility this week. Although FIIs have shown some interest in purchasing over the past few days, there were a few block purchases last week, so their flow will be crucial,” said Santosh Meena, Head of Research, Swastika Investmart Ltd.
FPIs turned net buyers last week with an investment of over Rs 7,600 crore against net outflows of Rs 3,920 crore in the preceding week (From February 7-12).
Brent crude oil movement and the trend in the rupee would also be in focus this week.
“With all major events behind us, the performance of the global markets, especially the US, will be in focus for cues. Besides, crude and rupee movement will continue to offer indications in …
Mcap of five of top-10 most valued firms jump Rs 95,337 cr last week (19-02-2023)
Five of the top 10 valued firms together added Rs 95,337.95 crore in their market valuation last week, with index major Reliance Industries Ltd contributing the most.
Last week, the BSE benchmark climbed 319.87 points or 0.52 per cent.
While Reliance Industries, ICICI Bank, HDFC, ITC and Bharti Airtel were the gainers from the top-10 pack, Tata Consultancy Services (TCS), HDFC Bank, Infosys, Hindustan Unilever and State Bank of India were the laggards.
The market valuation of Reliance Industries rallied Rs 70,023.18 crore to Rs 16,50,677.12 crore.
ITC’s market capitalisation (mcap) jumped Rs 14,834.74 crore to Rs 4,75,767.12 crore.
The valuation of ICICI Bank climbed Rs 6,034.51 crore to Rs 6,01,920.14 crore and that of Bharti Airtel advanced Rs 3,288.43 crore to Rs 4,32,763.25 crore.
HDFC’s mcap gained Rs 1,157.09 crore to Rs 4,92,237.09 crore.
However, State Bank of India’s valuation eroded by Rs 19,678.77 crore to Rs 4,73,807.64 crore.
The mcap of Hindustan Unilever tanked R
FPIs shift focus back on Indian market; invests Rs 7,600 cr in a week (19-02-2023)
Foreign investors seem to have shifted their focus back on the Indian equity markets as they turned net buyers last week with an investment of over Rs 7,600 crore.
This came following a net outflow of Rs 3,920 crore by foreign portfolio investors (FPIs) from equities in the preceding week (February 7-12), data with the depositories showed.
“As the markets began to recover from the Adani shock, the flows from FPIs also improved, suggesting their renewed interest in the prospects of the Indian equity markets,” Himanshu Srivastava, Associate Director – Manager Research at Morningstar India, said.
It appears that the sustained selling in India witnessed from early January is over but they might sell again at higher levels, VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.
As per the data, FPIs have purchased equities worth a net sum of Rs 7,666 crore in the week ended February 17.
Given a more stable economy, strong macros and prospects of higher economic
NSE to include Adani Wilmar, Adani Power in few indices from March 31 (18-02-2023)
Leading stock exchange NSE has tweaked the constituents of its major indices with Adani Group’s two companies — Adani Wilmar and Adani Power — all set to make their way into some of the Nifty indices from March 31, 2023.
Adani Wilmar will be part of Nifty Next 50 and Nifty 100 indices, while Adani Power will be included in Nifty 500, Nifty 200, Nifty Midcap 100, Nifty Midcap 150, Nifty LargeMidcap 250, and Nifty Midsmallcap 400 indices.
All the changes in the indices will be effective from March 31 this year, the exchange said in a late night statement on Friday.
The Index Maintenance sub-committee of NSE Indices Ltd has decided to make replacement of stocks in various indices as part of its periodic review.
However, the National Stock Exchange (NSE) did not make any change to its Nifty 50 index.
In Nifty Next 50 index, apart from Adani Wilmar, other companies that will be included are — ABB India, Canara Bank, Page Industries and Varun Beverages.
On the other hand, Bandhan Ba
Gold, silver prices remain unchanged; yellow metal selling at Rs 56,510 (18-02-2023)
The price of ten grams of 22 carat gold in Delhi, Bengaluru, and Chennai is Rs 51,950, Rs 51,850 and Rs 52,500, respectively