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Bank of Maharashtra dives over 4% after CMD’s arrest@SEBI REGISTERED COMPANY

Bank of Maharashtra dropped over 4% after its CMD Ravindra Marathe, executive director Rajendra Gupta and two other bank officials, including Marathe’s precedessor, were arrested earlier reportedly in relation to the alleged cheating case involving developer DS Kulkarni. Kulkarni was earlier arrested for cheating several depositors of Rs2,043cr through fraudulent investment schemes. Marathe and the officials were first called in for questioning. The Pune Crime Branch suspects that they colluded with Kulkarni’s firm to divert money and cheat shareholders. Interestingly, as…

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Cipla receives USFDA approval for gSustiva@SEBI REGISTERED COMPANY

Cipla has announced that it has received final USFDA approval for Efavirenz tablets 600mg. This is a generic therapeutic equivalent version of Bristol-Myers Squibb’s, drug Sustiva. Efavirenz is indicated in combination with other antiretroviral agents for the treatment of human immunodeficiency virus type 1 infection in adults and in pediatric patients at least 3 months old and weighing at least 3.5 kg. According to IQVIA (IMS Health), Sustiva and its generic equivalents had US sales of approximately $105mn for the 12-month…

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ICICI Bank stock slips 1%; Board appoints Sandeep Bakhshi as Director and COO

ICICI Bank Ltd is currently trading at Rs289.90 down by Rs2.6 or 0.89% from its previous closing of Rs292.50 on the BSE. The Board of Directors of ICICI Bank has appointed Sandeep Bakhshi, as Wholetime Director and Chief Operating Officer designate, ICICI Bank. His appointment as COO will be for a period of five years, subject to regulatory approvals. He will take over as the COO from June 19, 2018, or on the date of regulatory and other approvals, whichever is…

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SEBI REGISTERED COMPANY@Nifty holds 10,800 mark; Metal stocks down 2%

Equity benchmark indices traded lower mirroring weak global cues as trade war between the US and China escalated. On the sectoral front, metal, realty, PSU Bank and media stocks were down. Shares of Dr.Reddy’s were trading lower after a court in the US retrained it from selling generic variant of Subaxone. At 10:04 AM, BSE Sensex was at 35,587 down 36 points, while NSE Nifty was at 10,802, down 16 points. BSE Mid-cap Index is trading slightly up 0.01% at…

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Hedge Funds gain on oil as OPEC meet looms large

After two months of cutting bets on rising prices, hedge funds are feeling optimistic again as OPEC prepares to meet. Whether that optimism is warranted remains an open question. Falling output from Iran and Venezuela briefly had analysts touting the possibility of $100-a-barrel oil ahead, and hedge funds boosted wagers on a price rebound in the week ending on Tuesday. Since then though, a push by Saudi Arabia and Russia for production increases ahead of next Friday’s OPEC meeting has…

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US stocks open higher, euro drops on dovish ECB

US equities opened higher, following European stocks, after the ECB delivered a somewhat dovish message to investors who had been reeling from disappointing China data and the Fed’s hawkish shift. The S&P 500 index rose Thursday morning, led by consumer and technology shares. The dollar hit a seven-month high and 10-year Treasury yields tightened. The Stoxx Europe 600 index climbed after the region’s central bank held interest rates and signaled in a statement stimulus may last until the end of…

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6 stocks in which traders are forming bullish positions ahead of today’s opening

Indian equities are expected to open lower amidst negative global cues, baring few counters majority of the underline securities have witnessed an addition in large open positions, hinting a rise in stock specific volatility. As the traders are betting heavily on the following stocks, we believe the present upward momentum will continue going forward on account of fresh addition in long positions and covering of short positions. Underline OI (lakhs) % OI Chg Price % Price Chg Action DISHTV 676…

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Page Industries stock at record high

Page Industries Ltd is currently trading at Rs25,719.10 up by Rs1042.95 or 4.23% from its previous closing of Rs24,676.15 on the BSE after its license agreement with Jockey International Inc., has been extended till December 31, 2040. Earlier, it had exclusive licenses for India, Sri Lanka, Bangladesh, Nepal and the UAE markets till CY30. Recently, Page has also signed an agreement with Speedo to market its swimwear products in India. The scrip opened at Rs25,480 and has touched a high and…

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Asian stocks mixed, dollar steady following Trump-Kim’s high-profile summit

Asian stocks traded mixed Wednesday following a lackluster session in the US as investors turned their attention to the major central bank meetings this week after shrugging off Tuesday’s North Korea summit. The dollar and Treasury yields were steady. Japan’s benchmarks gained, while Australian shares ticked lower. Though the S&P 500 Index recovered from session lows, volumes were below average. Safe-haven assets including the yen and gold edged lower amid the prospects of diminishing geopolitical risks after President Donald Trump…

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SEBI REGISTERED COMPANY INDORE@Sensex, Nifty open flat; Pharma biggest gainer

Sensex and Nifty opened flat with the Nifty holding the 10,800 mark. All sectoral indices traded flat. Maximum gains were observed in the pharma sector. The BSE Sensex is trading at 35,490 up 8 points, while NSE Nifty is trading at 10,792 up 5 points. The BSE Mid-cap Index is trading up 0.44% at 16,079, whereas BSE Small-cap Index is trading up 0.47% at 17,053. Dr. Reddy (+1.59%), Cipla (+1.53%), Wipro (+1.48%), Lupin (+1.38%) and IOC (+1.24%) were the top…

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