Trading of Nifty 50 futures on the Singapore stock exchange indicates that the Nifty could gain 24 points at the opening bell.
In overseas markets, Asian markets advanced following overnight gains in US stocks. US markets closed higher for the third straight session yesterday, 23 December 2015, led by outsized gains in the energy and materials sectors.
Closer home, foreign portfolio investors (FPIs) bought shares worth a net Rs 385.82 crore yesterday, 23 December 2015, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 632.64 crore yesterday, 23 December 2015, as per provisional data.
Sun Pharmaceutical Industries (Sun Pharma) announced before market hours today, 24 December 2015 that its wholly owned subsidiary Sun Pharma Laboratories has raised Rs 1000 crore on private placement basis, by allotment of 10,000 (ICRA) AAA/Stable Outlook Rated unsecured redeemable non-convertible debentures of a face value of Rs 10 lakh each to be listed on BSE under two series with Series 1 debentures comprising of 5,000 debentures amounting to Rs 500 crore with a tenor of 24 months, and Series 2 debentures comprising of 5,000 debentures amounting to Rs 500 crore with a tenor of 39 months.
State Bank of India (SBI) announced before market hours today, 24 December 2015 that it has issued 40,000, Basel III compliant, Tier-II bonds in the nature of debentures, of face value of Rs 10 lakh each at par, with 10 year tenure, bearing 8.33% per annum coupon and with call option after 5 years, aggregating to Rs 4000 crore on private placement basis.
Lupin announced after market hours yesterday, 23 December 2015, that it has received final approval for its Potassium Chloride Extended Release Capsules USP, 8 mEq and 10 mEq from the United States Food and Drug Administration (USFDA), to market a generic version of Actavis Labs FL, Inc's Potassium Chloride Extended Release Capsules USP, 8 mEq and 10 mEq. Lupin's US subsidiary, Lupin Pharmaceuticals Inc. would commence promoting the product in the US shortly.
Lupin's Potassium Chloride Extended Release Capsules USP, 8 mEq and 10 mEq, are the AB rated generic equivalent of Actavis Labs FL, Inc's Potassium Chloride Extended Release Capsules USP, 8 mEq and 10 mEq. It is indicated for the treatment of patients with hypokalemia, with or without metabolic alkalosis, in digitalis intoxications and in patients with hypokalemic familial periodic paralysis. It is also indicated for the prevention of hypokalemia in patients who would be at a particular risk. Potassium Chloride Extended Release Capsules had annual sales of $85.6 million in the United States as per IMS MAT September 2015 data.
Idea Cellular after market hours yesterday, 23 December 2015, announced the launch of its high speed 4G LTE services across all five states of South India viz. Andhra Pradesh, Karnataka, Kerala, Tamil Nadu and Telangana. In the first phase, Idea's high speed 4G network will be available across 75 towns in Southern India, the company said in a statement. Idea will rapidly expand 4G services in all Southern India metros and large towns by March 2016, the company said. Idea Cellular is also gearing to launch 4G LTE services by March 2016 in other key markets namely Madhya Pradesh & Chhattisgarh, Maharashtra & Goa, Punjab, Haryana, North East and Orissa, in a phased manner. By June 2016, Idea's 4G footprint will cover 750 cities across 10 telecom circles, the company said in a statement.
Gains in global stocks triggered by a recovery in battered global commodity prices aided gains for Indian stocks yesterday, 23 December 2015. The Sensex gained 259.65 points or 1.01% to settle at 25,850.30, its highest closing level since 3 December 2015.
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