Company Overview and News
The market fell sharply from its day's high to end below the flatline amid uncertainty over formation of the government in Karnataka after election results.
Market Closing: Benchmark indices ended flat after the BJP is likely to fail to reach half-way mark in Karnataka, though it is likely to be emerging as the largest party with 104 seats.
Earnings: Pharma major Lupin has posted a loss of Rs 783.5 crore for the quarter ended March 2018, due to one-time loss of Rs 1,464.3 crore on Gavis Group acquisition.
Shares of Indian Hume Pipe Company declined 4 percent intraday Tuesday as company received cancellation of letter of acceptance from Madhya Pradesh Jal Nigam Maryadit.
Indian Hume Pipe Company has secured a work order for ₹578.50 crore from Madhya Pradesh Jal Nigam Maryadit for Kundaliya Multi Village Rural Water Supply Scheme for Rajgarh district.
3:30 pm Market Closing: Benchmark indices closed lower for the first time in last 10 consecutive sessions, dragged by banks. However, the upside in ITC capped losses.
1:55 pm Earnings: Mastek's Q4 consolidated net profit increased to Rs 19.4 crore from Rs 18.4 crore and revenue grew by 6.8 percent to Rs 223.7 crore on sequential basis.
1:18 pm Market Update: Benchmark indices extended gains in afternoon trade, with the Nifty inching towards 10,600 levels on hopes of strong earnings growth.
12:55 pm Earnings Outlook: "We are looking at Sensex earnings. In Q4, earnings will grow in the range of 13-14 percent, which will be double digit growth after a long time. Partially, this will be due to low base of Q4 last year and the other due to better earnings of global commodity companies, be it energy or metals. That will aid overall growth,” Gaurav Dua, Head of Research, Sharekhan told Moneycontrol.
11:50 am Buzzing: Federal Bank gained more than a percent after Reliance Securities said it has a Buy rating on the stock with a target price of Rs 150, implying a 51 percent potential upside.
10:55 am Should gold be a part of your portfolio?: Akash Jain, Vice President - Equity Research, Ajcon Global said gold is better as a short to medium-term investment, as long-term returns on the yellow metal are often as low as 10 percent per annum. We would suggest investors not to make too heavy or long-term investments in gold.
9:55 am Buzzing: Simmonds Marshall share price rallied 10 percent after ICICI Research said the company has a capital efficient business model where it realises around 3x asset turnover, realises around 12-13 percent EBITDA margins and has a working capital cycle of around 130 days.
Indian Hume Pipe Company has secured a work order worth ₹108.19 crore from Narmada Water Resources, Water Supply & Kalpsar Department, Gujarat, for a lift irrigation project entailing transmission of 100 cusecs of water from Kherva to Visnagar. Shares of Indian Hume Pipe closed at ₹338.50, down 0.7 per cent, on the NSE.
Share price of Indian Hume Pipe Company and Ajmera Realty and Infra India tumbled 6-14 percent intraday Friday on weak Q3 performance.
10:05 am Market Check: Equity benchmarks maintained uptrend, with the Sensex rising 177.44 points to 33,126.65 and the Nifty rallying 60.60 points to 10,227.30.
13h - Asif
Overview Anthera Pharmaceuticals, Inc. is a biopharmaceutical company focused on advancing the development and commercialization of innovative medicines that benefit patients with unmet medical needs. The company currently have two compounds in development, Sollpura and blisibimod. The company licensed Sollpura from Eli Lilly & Co (“Eli Lilly”) in July 2014. Sollpura is a novel non-porcine investigational Pancreatic Enzyme Replacement Therapy (“PERT”) intended for the treatment of patients with Exocrine Pancreatic Insufficiency (“EPI”), often seen in patients with cystic fibrosis and other conditions. The company licensed blisibimod from Amgen, Inc. (“Amgen”) in December 2007. Blisibimod targets B-cell activating factor, or BAFF, which has been shown to be elevated in a variety of B-cell mediated autoimmune diseases, including Immunoglobulin A nephropathy, or IgA nephropathy. Sollpura The exocrine pancreas is responsible for synthesis and secretion of digestive en...
14h - Asif
Business Agenus is a clinical-stage immuno-oncology (“I-O”) company dedicated to becoming a leader in the discovery and development of innovative combination therapies and committed to bringing effective medicines to patients with cancer. The company's business is designed to drive success in I-O through speed, innovation, and effective combination therapies. Agenus has assembled fully integrated capabilities from novel target discovery, antibody generation, cell line development, and good manufacturing practice (“GMP”) manufacturing together with a comprehensive portfolio consisting of antibody-based therapeutics, adjuvants and cancer vaccine platforms. The company leverage its immune biology platforms to identify effective combination therapies for development and have developed productive partnerships to advance its innovation. The company believe the next generation of cancer treatment will build on clinically validated antibodies targeting CTLA-4 and PD-1 combined wi...
2018-05-21 - Asif
Business The company started Square in February 2009 to enable businesses (sellers) to accept card payments, an important capability that was previously inaccessible to many businesses. However, sellers also need innovative solutions to thrive, and Square has since expanded to provide additional products and services to give these businesses access to the same tools as large businesses. This approach aligns with its purpose of economic empowerment, as everything the company do should give sellers accessible, affordable tools to grow their businesses and participate in the economy. Square is a cohesive commerce ecosystem that helps its sellers start, run, and grow their businesses. The company combine sophisticated software with affordable hardware to enable sellers to turn mobile and computing devices into powerful payment and point-of-sale solutions. Square has high seller acceptance rates and fast onboarding, while maintaining low risk and fraud losses as a result of its a...