Browse Category: Share Market Tips

Sun Pharma in $50 Million deal with Spanish Firm

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Indian drug major Sun Pharmaceutical Industries Ltd said it entered into $50 million licensing agreement with Spanish firm Almirall for the development and commercialisation of tildrakizumab for psoriasis in Europe.

In a statement issued late Wednesday night, Sun Pharma said under the terms of the license agreement, Almirall will pay an initial upfront payment of $50 million.

“Phase-3 studies of tildrakizumab have recently been completed. Sun Pharma will be eligible to receive development and regulatory milestone payments and, additionally, sales milestone payments and royalties on net sales, the terms of which are confidential,” the statement said.

Psoriasis is a chronic immune disease that appears on the skin. It affects an estimated 7.5 million people in the US and approximately 125 million people worldwide, the statement said.

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Yes Bank gets SEBI nod for Mutual Fund

Yes Bank said here on Wednesday that it has received in-principle approval from the Securities and Exchange Board of India (SEBI) to sponsor a mutual fund and to set up an asset management company and also a trustee company. The private sector bank said in a stock exchange filing that it “has received an in-principle approval from SEBI to sponsor a mutual fund and to set up an Asset Management Company (AMC), and a trustee company.
The AMC and the trust company shall be set up as wholly owned subsidiaries of Yes Bank.” The bank has received the Reserve Bank of India’s (RBI) approval in this regard in October 2015.
Yes Bank has already identified the senior leadership and technological architecture to establish this business, and will start operations within 12 months, the statement added.
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Top Losers

Symbol                                        LTP                   % chng
DRREDDY                              2,964.00               -10.71
IDEA                                         106.00                   -1.81
ITC                                            247.90                   -1.53
TATASTEEL                           362.70                     -1.39
RELIANCE                           1,011.20                     -1.25
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Top Gainers

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Symbol                                                          LTP                                        % chng

INFRATEL                                                381.30                                          4.93

ICICIBANK                                               270.55                                           3.40

ZEEL                                                        485.85                                            2.38

MARUTI                                                4,555.10                                            1.87

ADANIPORTS                                         228.25                                            1.72

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Nifty ends at 8616, Sensex Flat

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After a lot of volatility, the market has ended flat.

The Sensex is up 47.81 points or 0.2 percent at 28024.33,

and the Nifty is up 25.15 points or 0.3 percent at 8615.80.

About 1316 shares have advanced, 1346 shares declined, and 202 shares are unchanged.

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China’s Fosun to sign Agreement for $1.4 billion Gland Pharma buy

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Shanghai Fosun Pharmaceutical (Group) Co <2196.HK> will sign a definitive agreement on Wednesday to buy a controlling stake in India’s Gland Pharma in a $1.4 billion deal, the Economic Times newspaper reported, citing a source with direct knowledge.

In May, Shanghai Fosun had made a non-binding proposal to buy Gland Pharma, which is backed by KKR & Co , to boost its drug manufacturing and research and development capacity.

Fosun did not immediately comment, when contacted by Reuters. Gland Pharma made no immediate comment on the report.

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यस बैंक के मुनाफे में 32.5% की बढ़ोतरी

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वित्त वर्ष 2017 की पहली तिमाही में यस बैंक का मुनाफा 32.5 फीसदी बढ़कर 730 करोड़ रुपये हो गया है। वित्त वर्ष 2016 की पहली तिमाही में यस बैंक का मुनाफा 551 करोड़ रुपये रहा था।

वित्त वर्ष 2017 की पहली तिमाही में यस बैंक की ब्याज आय 24.2 फीसदी बढ़कर 1317 करोड़ रुपये पर पहुंच गई है। वित्त वर्ष 2016 की पहली तिमाही में यस बैंक की ब्याज आय 1060 करोड़ रुपये रही थी।

तिमाही दर तिमाही आधार पर अप्रैल-जून तिमाही में यस बैंक का ग्रॉस एनपीए 0.76 फीसदी से मामूली बढ़कर 0.79 फीसदी रहा है। तिमाही आधार पर अप्रैल-जून तिमाही में यस बैंक का नेट एनपीए बिना बदलाव के 0.29 फीसदी पर स्थिर रहा है।

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Bharti Infratel Shares Jump 5% on Strong Q1

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Shares of Bharti Infratel surged over 5 per cent on the Bombay Stock Exchange after the company posted a growth of 71 per cent in its net profit at Rs 756 crore for the first quarter ended June 30, 2016 compared with Rs 442 crore in the same quarter last fiscal.

Boosted by strong earnings, shares of company gained as much as 5.21 per cent in intra-day to trade at Rs 381.30 apiece on Bombay Stock Exchange.

In a similar fashion, stocks of company advanced 3.52 per cent to Rs 376.20 apiece on National Stock Exchange.

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Tata Steel Receives Contribution for Investment Project

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Tata Steel has said that it has been awarded a government financial contribution of C D 175 million to Tata Steel Minerals Canada to support the achievement at Schefferville of a direct shipping iron ore project (DSO project) in which Tata Steel Group has invested an amount in excess of C D1 billion.

The financial contribution includes equity stake of USD 125 million through the Capital Mining Hydrocarbons Fund and a loan of USD 50 million from Investissement Québec, acting as an agent of the Government.

Commenting on the development, Deputy Premier Lise Thériault said, “The support for this important project confirms our commitment to stimulate the growth of the Quebec mining industry, particularly in the Northern parts of Quebec, and encourage the responsible exploitation of our resources.

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Amazon.in launches Membership Service Prime in India

Amazon logo seen at the introduction of the new Amazon Kindle Fire HD and Kindle Paperwhite personal devices, in Santa Monica, Calif., Thursday, Sept. 6, 2012. (AP Photo/Reed Saxon)
Amazon logo seen at the introduction of the new Amazon Kindle Fire HD and Kindle Paperwhite personal devices, in Santa Monica, Calif., Thursday, Sept. 6, 2012. (AP Photo/Reed Saxon)
Amazon.in on Tuesday announced the launch of its globally popular Amazon Prime membership programme in the country in over a 100 cities to enable free one-day and two-day deliveries to its customers, reported PTI.

Prime products will be delivered through the Fulfilment By Amazon (FBA) channel, which helps sellers by giving them access to Amazon’s fulfilment resources, fast, free delivery options for their products and customer service.

“For sellers, Fulfillment by Amazon is now an even more powerful opportunity to rapidly grow their business and at the same time, provide customers across India with vast selection and unlimited fast free Prime delivery,” Amit Agarwal, vice-president & Country Head, Amazon India said. Along with unlimited free fast delivery, Prime members can enjoy Prime Early Access, allowing members to purchase top Lightning Deals 30 minutes early, every single day.

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