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Biocon shares tank 6% after reporting net loss of Rs 16 cr in Q2FY25 (31-10-2024)
Shares of pharmaceutical company Biocon tanked 5.96 per cent at Rs 301.65 a piece on the BSE
Ashok Leyland shares 1.04% as Sensex falls (31-10-2024)
A total of 197,115 shares changed hands on the counter till 11:40AM (IST)
Ceinsys Tech-Engineering, Geospatial & IT solutions Company (31-10-2024)
This is From VTS founder which got acquired by Ceinsys recently in USA. he has mentioned about a MSA with Major telcom player.
Jupiter Electric Mobility buys Log9’s battery units for rail and truck segments (31-10-2024)
The deal includes the transfer of engineering and production teams from Log9 to JEM
Avenue Supermart shares 0.14% as Sensex falls (31-10-2024)
A total of 4,265 shares changed hands on the counter till 11:35AM (IST)
Dollar Index recovers some lost ground; US NFP report awaited (31-10-2024)
The dollar index is inching higher following a slide late yesterday after a mixed set of US data. The US Dollar Index (DXY), which measures the value of the USD against a basket of six currencies, lost ground on Wednesday following the release of mixed economic data. Septembers ADP Employment Change report exceeded market expectations in October, but a downward revision in third-quarter GDP growth made the USD tumble. US ADP Employment Change beat expectations with a 233K increase in October, which could limit the dollar losses. Meanwhile, US Q3 Gross Domestic Product grew at a 2.8% pace, stronger than global peers but below market expectations. Investors remain cautious ahead of Friday’s Nonfarm Payrolls (NFP) report, which may provide further clarity on labor market conditions. The dollar index that measures the greenback against a basket of currencies is quoting at 104.02, up 0.15% on the day after a slide below 104 mark in the previous session. Among basket currencies, EURUSD and
Biocon shares fall 6% after Q2 net profit dives 84%. What should investors do? (31-10-2024)
Axis Securities and JM Financial both maintain ‘Buy’ ratings on Biocon, with target prices of Rs 370 and Rs 380, respectively. Biocon has a strong product pipeline, including new offerings expected to drive growth. The company is also refinancing debt to lower costs and exploring fund-raising options through asset sales. Positive growth is anticipated in the biosimilars business starting in 2H FY25.
US stocks end slightly lower, economic cues continue to stay in focus (31-10-2024)
The US stocks saw sideways moves yesterday and ended on a slightly negative note as investors assessed earnings and economic news. After reaching a new record intraday high in early trading, the tech-heavy Nasdaq dropped 104.82 points or 0.6 percent to 18,607.93. The S&P 500 also dipped 19.25 points or 0.3 percent to 5,813.67, while the Dow slipped 91.51 points or 0.2 percent to 42,151.54.