Key benchmark indices settled with modest losses weighed down by selling pressure in index pivotals Reliance Industries and Infosys. In early trade, domestic stocks edged lower on account of negative Asian stocks. Indices extended intraday recovery with the Sensex and the Nifty regaining the positive zone in mid-morning trade. In late trade stock traded in negative zone. The Nifty 50 lost 13.20 points and settled the day at 10585.20. Pharma sector were the major gainers and Metal sector were the major losers of the day.
U.S. firm CTI Africa plans to invest $10 million in Uganda to build a plant to assemble low-end smart mobile phones and manufacture phone components.Global stocks were heading for their biggest drop in two weeks and emerging market currencies also slipped on Friday as a confident U.S. central bank and weak Chinese data hit demand for risky assets.
Mphasis has acquired Stelligent Systems LLC, a technology services company specializing in DevOps automation on Amazon Web Services (AWS). The acquisition is an all-cash deal valued at $25 mn.
Glenmark Pharma announced that it would launch Phase 1 trial in solid tumors for its bispecific antibody GBR 1342, indicated for the treatment of multiple melanoma.
Welspun Enterprises announced bagging a project worth Rs1,460cr from the Maharashtra Government.
Allahabad Bank has received a communication from Government of India regarding fresh capital infusion of Rs3,054cr in preferential allotment of equity shares of the Bank during FY19.
Strides Pharmaceuticals enters into a strategic partnership with SUDA Pharmaceuticals for the US market.
GAIL (India) announced award of contract for the purchase of 616 km of line pipe worth Rs 1100 crore for the Barauni -Guwahati pipeline.
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