Key benchmark indices were trading higher in early trade. At 9:17 IST, the barometer index, the S&P BSE Sensex, was up 175.58 points or 0.49% at 36,226.02. The Nifty 50 index was up 13.90 points or 0.13% at 11,083.55.
Among secondary barometers,the BSE Mid-Cap index was up 0.48%. The BSE Small-Cap index was up 0.52%. Both these indices outperformed the Sensex.
The broad market depicted strength. There were more than two gainers against every loser on BSE. 953 shares rose and 357 shares fell. A total of 78 shares were unchanged.
Overseas, Asian shares were mixed. US stocks surged on Friday, 26 January 2018. A reading of fourth-quarter gross domestic product came in slightly softer than expected but was viewed by investors as healthy enough to perceive that the economy is on firm footing. The Dow Jones Industrial Average rose 0.85%. The S&P 500 index climbed 1.18%. The Nasdaq Composite Index surged 1.28%.
US gross domestic product (GDP) for the fourth quarter rose 2.6% as consumption and business activity picked up.
Closer home, Maruti Suzuki India was up 2.35%. The company's net profit rose 3% to Rs 1799 crore on 13.9% rise in net sales to Rs 18940 crore in Q3 December 2017 over Q3 December 2016. The result was announced after market hours on Thursday, 25 January 2018. The market remained shut on Friday, 26 January 2018 on account of holiday.
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Cipla was up 0.93%. The company's announced that it has received final approval for its Abbreviated New Drug Application (ANDA) for Tenofovir Disoproxil Fumarate Tablets, 300mg, from the United States Food and Drug Administration (USFDA) to market a generic version of Gilead Sciences' Viread Tablets, 300mg.
Cipla's Tenofovir Disoproxil Fumarate Tablets, 300mg, are AB-rated generic equivalents of Gilead Sciences' Viread Tablets, 300mg, and are indicated in combination with other antiretroviral (ARV) agents for the treatment of HIV-1 infection in adults and paediatric patients 12 years of age and older. Cipla is excited to add this important antiretroviral product to its growing portfolio of ARVs in the US.
The product will be available for commercial shipment in the US immediately. Viread Tablets, 300mg, had US sales of approximately $72S million for the 12-month period ending November 2017, as reported by IMS Health. The announcement was made before market hours today, 29 January 2018.
KSB Pumps was up 4.51%. The company said that it has received orders of around Rs 413 crore from Nuclear Power Corporation of India (NPCIL). The announcement was made before market hours today, 29 January 2018.
Majesco was up 0.04%. The company said that it has received an intimation from its subsidiary, Majesco USA in relation to a summons that has been received by Majesco Software and Solutions Inc., a wholly owned subsidiary of Majesco, USA from one of their customers. The announcement was made on Sunday, 28 January 2018.
Divi's Laboratories was down 1.96%. The company's net profit fell 16.3% to Rs 224.66 crore on 6.3% rise in net sales to Rs 1037.88 crore in Q3 December 2017 over Q3 December 2016. The announcement was made on Saturday, 27 January 2018.
Bank of Maharashtra was up 1.45%. The bank said that board meeting of the bank will be held on 31 January 2018 to consider the proposal of raising of equity capital of bank by way of preferential allotment to Government of India. The announcement was made on Saturday, 27 January 2018.
On the macro front, the total revenue received under Goods and Services Tax (GST) for the month of December 2017 (received in December/January up to 24 January 2018) has been Rs 86703 crore till 24 January 2018. The last date for filing of GSTR 3B return for the month of December 2017 was 22 January 2018, the Finance Ministry said in a statement on 25 January 2018.
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