Market is seen opening higher on positive Asian stocks. Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could gain 25 points at the opening bell.
In overseas markets, Asian markets were trading higher led by broad gains on Wall Street on Friday, 20 November 2015. Japanese markets were closed on account of a holiday. US markets closed with gains on Friday, 20 November 2015 led by a rally in healthcare, consumer and technology stocks.
Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 94.09 crore on Friday, 20 November 2015, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 610.16 crore on Friday, 20 November 2015, as per provisional data.
Adani Ports and Special Economic Zone and Asian Paints will replace Vedanta and Hindalco Industries as constituents of the 30-share S&P BSE Sensex with effect from 21 December 2015.
Kotak Mahindra Bank (KMBL) after market hours on Friday, 20 November 2015 said that Kotak Mahindra General Insurance Company (Kotak General Insurance) has been granted the certificate of registration to commence business as an Indian insurance company. With this, Kotak General Insurance has completed all registration formalities required by the regulators, KMBL said. Kotak General Insurance has received permission to underwrite all classes of general insurance business (including health insurance), KMBL said in a statement. Kotak General Insurance will initially focus on the retail side of the business comprising motor insurance, health insurance, home insurance and travel insurance. The company will soon expand into the commercial line of business, which includes fire, burglary, marine, etc, KMBL said. At inception, Kotak General Insurance Company has been capitalised at Rs 135 crore, KMBL said in a statement.
Aurobindo Pharma on Saturday, 21 November 2015 said that it has received final approval from the United States Food and Drug Administration (USFDA) to manufacture and market Sildenafil Tablets, 20 mg. This product is expected to be launched by Q4 March 2016, Aurobindo Pharma said. The approved abbreviated new drug application (ANDA) is bioequivalent and therapeutically equivalent to the reference listed drug product REVATIO (sildenafil citrate) Tablets 20 mg of Pfizer, Inc.
Sildenafil Tablets are used in the treatment of pulmonary arterial hypertension (high blood pressure in the lungs). The approved product has an estimated market size of $80 million in the US for the twelve months ended September 2015, according to IMS data.
Cadila Healthcare after market hours on Friday, 20 November 2015, announced the launch of Tenglyn - Teneligliptin 20 mg tablets, which belongs to a new class of oral anti-diabetic agents, Gliptins. With an aim to make this important therapy affordable and accessible to diabetic patients, Tenglyn is being priced at just Rs 7 per tablet which is almost 1/6th the price at which the Gliptins were initially launched in India, Cadila Healthcare said in a statement.
Crompton Greaves (CG) after market hours on Friday, 20 November 2015, said that the High Court of judicature at Bombay has on 20 November 2015, approved the scheme of demerger of the consumer products business unit of CG into CG's wholly owned subsidiary Crompton Greaves Consumer Electricals (CGCEL). This scheme was approved by the shareholders of CG at the court convened meeting held on 13 August 2015. Upon the effective implementation of the scheme, CGCEL will issue and allot one fully paid-up equity shares of Rs 2 each for every one equity share of Rs 2 each to the shareholders of CG as on the record date.
Key benchmark indices witnessed immense volatility on Friday, 20 November 2015. The Sensex rose 26.57 points or 0.10% to settle at 25,868.49, its highest closing level since 9 November 2015.
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