Sep 30, 03:45 PM (IST)
Japan’s PMDA completes GMP inspection of Lupin’s Goa facility: The company announced the completion of the Good Manufacturing Practices (GMP) inspection of its Goa facility (Unit – I & II), by the Pharmaceutical and Medical Devices Agency (PMDA), Japan.
Sep 30, 03:43 PM (IST)
Suvodeep Rakshit, Vice President & Sr. Economist, Kotak Institutional Equities:
The MPC will be going into the meeting with 1QFY20 GDP growth at 5% against estimate of 5.8-6.6% in 1HFY20 and 6.9% for FY2020 and having unequivocally expressed growth as its primary concern. With inflation remaining within its comfort range, despite recent onion price increases, revisions to its growth forecast warrant a sharper-than-usual rate cut in the October policy. We pencil in a 40 bps of rate cut which should be a signal to the market that the MPC is not quite done as it front loads the remaining couple of rate cuts in the cycle. Further, with the start of the external benchmarked loans in October, a larger rate cut will help in quicker transmission of rate cuts even as the non-benchmarked loans continue to factor in the past rate cuts.
Sep 30, 03:37 PM (IST)
Sidharth Rath, MD & CEO, SBM Bank India:
Globally, we are seeing overall interest rates being stable or dropping, accompanying slowdown in growth. With a sizeable cut in corporate tax rates, the fiscal response has been sharp. This along with the RBI’s easier monetary stance – lower rates, easier liquidity- should help to arrest the economic downturn, and boost sentiments. Against this backdrop, the central bank is likely to have a dovish stance. More importantly, one needs to study the policy narrative to get a direction of likely future action by the RBI, liquidity measures, any other structural changes etc.
Sep 30, 03:35 PM (IST)
Market close: Benchmark indices ended lower but off days low in the volatile session on September 30.
At close, the Sensex was down 155.24 points at 38,667.33, while Nifty was down 37.90 points at 11,474.50. About 777 shares have advanced, 1694 shares declined, and 151 shares are unchanged.
Yes Bank, IndusInd Bank, SBI, Zee Entertainment and ICICI Bank were top losers on the Nifty, while lowers were Bharti Airtel, UPL, HCL Tech, Infosys and ITC.
Among sectors, buying seen in the IT, infra, FMCG and energy sectors, while selling seen in the auto, bank, pharma and metal.
Sep 30, 03:25 PM (IST)
Stake sale by government in 5 CPSEs is likely to come up in group of secretary meet today. Government stake sale in BPCL, CONCOR, SCI, THDC and NEEPCO may come up for CGD nod. NTPC may acquire THDC and NHPC is likely to acquire NEEPCO, quoting source, reported CNBC-TV18.
Sep 30, 03:24 PM (IST)
Amit Shah, Technical Research Analyst with Indiabulls Ventures:
Nifty yet again bounced back sharply from our mentioned support of 11,400. Near term, traders should look to remain long on the index with a stop below 11,400. Till this support is protected on the downside expect the index to consolidate between 11,400-11,700 as mentioned earlier. Index is witnessing a phase of consolidation of its recent near-vertical up-move. Undertone continues to remain bullish overall. Above 11,700 index is likely to head towards 12,000 zone.
Sep 30, 03:18 PM (IST)
Lupin launches Sildenafil Tablets USP: The company launched Sildenafil Tablets USP, 25 mg, 50 mg, and 100 mg, having received an approval from the United States Food and Drug Administration (USFDA) earlier.
Sep 30, 03:06 PM (IST)
Rupee near day’s low: The Indian rupee has erased all its morning gains and trading near day’s low at 70.70 per dollar, down 14 paise from previous close.
Source : http://tiny.cc/f3vndz