The domestic stock market indices — Sensex and Nifty — opened in the green on Wednesday tracking a recovery in the Indian rupee and higher Asian markets. Asian stocks rose and U.S. Treasury yields hovered near four-month highs on Wednesday, as investors looked past the latest escalation in the U.S.-China trade conflict, seen by some market participants as less severe than expected, said a Reuters report. SGX Nifty futures, an early indicator of the NSE Nifty 50 index, were trading 27.50 points, 0.24%, higher at 11,342.50.
Sun Pharma: Sun Pharma said Spanish firm Almirall has received approval from the European Commission (EC) for Ilumetri, a drug used for treating psoriasis. Sun Pharma out-licensed Ilumetri (tildrakizumab) to Almirall in July 2016 for the development and commercialisation of the product in Europe.
ICICI Bank: Capital market regulator Sebi said ICICI Bank and Chanda Kochhar have replied to its show-cause notices on the probe into the alleged regulatory lapses by the bank’s CEO-on-indefinite-leave in lending to Videocon group and her husband’s business deals with the Dhoot family.
Tata Steel: Tata Steel has completed the acquisition of 51% equity stake in Creative Port Development Pvt Ltd (CPDPL), it said in a BSE filing.
Lupin: Drug maker Lupin has appointed Alok Sonig as CEO – US Generics and Global Head – Generics R&D & Biosimilars.
MCX: MCX to be in focus as the market regulator Sebi on Tuesday said it would soon come out with revised KYC norms for foreign investors and also allow overseas entities to trade in the commodity derivatives market.
IL&FS Transportation: State-run NHAI would pay IL&FS Transportation Networks a compensation of Rs 425 crore for losses suffered by it due to cost overrun in a project in Uttar Pradesh, the company said in a BSE filing.
Tata Motors: Tata Motors-owned Jaguar Land Rover (JLR) on Monday had confirmed a cut in its production schedule at the Castle Bromwich plant manufacturing Jaguar cars in the West Midlands region of England due to “continuing headwinds” impacting the British car industry.
SBI: India’s largest lender State Bank of India (SBI) is looking to install solar panels over around 10,000 ATMs across the country in the next two years, PTI reported quoting a senior official. Currently, nearly 1,200 of the bank’s ATMs are running on solar power.