Cipla has received approval from Indian drug regulator DCGI to launch Favipiravir in the country – under the brand name Ciplenza – for the treatment of patients with mild to moderate COVID-19. The price is 10% lesser than Glemnark’s drug FabiFlu, giving Cipla a competitive advantage.
Yes Bank FPO listing today
Aditya Puri, MD and CEO of HDFC Bank has sold 95% of his stake valued Rs 843 crore in the bank last week. This brought down Puri’s holding to just 0.01 per cent from the earlier 0.14 per cent
Bharti Airtel and Vodafone Idea lost 5.26 million and 4.51 million subscribers respectively in April, while Reliance Jio added 1.57 million users during the same period, according to latest Trai data.
Adani Power said it has received shareholders’ approval for its Rs 3,264-crore delisting proposal.
ITC reported a 25.30 per cent fall in its consolidated profit after tax.
ICICI Bank reported 36 per cent growth in its consolidated June quarter consolidated profit, mostly due to stake sale of ICICI Lombard and ICICI Prudential. Also, almost all the key financial ratios look positive.
Family members of Infosys co-founder SD Shibulal have sold 85 lakh shares of the company worth Rs 777 crore. A separate statement issued by Shibulal’s family office said the amount will be utilised for philanthropic and investment activities.
Zee Entertainment Enterprises ZEEL reported a consolidated net loss of Rs 765.82 crore for the January-March quarter of FY 2019-20, compared to a profit of Rs Rs 292.53 crores for the corresponding quarter of the previous financial year.
Tata Steel in talks with the UK Government for Rs 9000 crores investment, to take a stake in its British operations and protect the Port Talbot steelworks in Wales.
Ambuja Cement reported a 28.76 per cent decline in consolidated net profit to Rs 592.51 crore for the second quarter ended June 30.
JSW Steel reported ₹582 crore consolidated loss for the quarter ended June 2020 — its first loss in over four years.
Major Q1 results today:
Kotak Mahindra Bank
What to expect today?
On Friday, the market opened and performed with a negative sentiment, with Bank Nifty performing the worst. But, things changed later and markets closed positively.
US markets are slightly down. The Asian markets are mostly in the green. SGX NIFTY is currently trading higher at 11,205, indicating a gap up opening in the Indian Market!
NIFTY is likely to trade between 11,100 and 11,300 today. There is support at 11,120, 11,060 and 11,030 and resistance at 11,250 and 11,300.
Highest Call Open Interest at 11,500, followed by 11,200. Highest Put Open Interest at 11,000, followed by 10,800.
Foreign institutional investors (FIIs) bought shares worth Rs 409.88 crore, while domestic institutional investors (DIIs) sold shares worth Rs 1,002.98 crore in the Indian equity market on Friday. FIIs mostly were net buyers during the last week.
Banking sector still continues to be in focus, ICICI having announced its result and Kotak announcing today. ITC, Reliance also deserve special attention.