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Today’s Stock
Market News:
Mumbai:
Snapping its four-day long losing streak, the BSE benchmark Sensex on Friday
recovered by over 139 points in early trade on emergence of buying by funds,
tracking a firming trend in the Asian region.The 30-share index, which had lost
612 points in the previous four sessions, rose by 139.39 points, or 0.71
percent, to 19,813.72, with all the sectoral indices, led by metals and realty,
trading in the positive zone with gains of up to 1.56 percent.Similarly, the
wide-based National Stock Exchange index Nifty regained psychological 6,000
points mark by rising 43.65 points, or 0.73 percent, to 6,010.70.
Brokers said emergence of buying by funds after four
sessions of losses, driven by a firming trend on the Asian bourses largely in
line with late recovery in US stocks in yesterday's trade, helped trading
sentiments to improve.Stocks of Tata Steel rose over 5.38 percent to Rs 315.60
even as it posted higher-than-expected net loss for the quarter ended March,
2013.
· FDA import alert has potential revenue loss of
USD 100 million annually.
· Can restore 80 percent of affected revenue
within 9 months.
· USFDA in its inspection found some good
manufacturing practice compliance issues.
· Have submitted remedial action plan to USFDA.
· Issues only at injectable manufacturing side.
· USFDA did not inspect solid dosage portion of
plant.
· Alert - Company to hold concall with investors
& analysts today at 12.30 pm, hosted by Macquarie Securities.
Brokerage IDFC
estimated Tata Steel posted an adjusted standalone operating profit of 33
billion rupees in the previous quarter, compared to its forecast of 27.6
billion rupees.Tata Steel shares gained even as it posted a bigger-than-expected
net loss, following a writedown.
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