Dr Reddy’s Lab ended in green on addition of new drug and USFDA approval

The Markets Today in a nutshell

• Domestic benchmark indices snap two day losing streak.
• Markets witnessed fresh optimism on decline in crude prices, positive global cues and FII buying. All major US indices witnessed significant gains amid fall in crude oil prices. Crude oil prices dipped below $90 a barrel for the first time since early February.

Capital Flows

News you could use

?Interglobe Aviation closes in red on promoter stake sale
Interglobe Aviation ended in the red after 11.2 million shares, amounting to a 2.9% stake, changed hands. The buyers and the sellers were not known but the company had said in a release earlier that Rakesh Gangwal, co-founder, and his family were looking to sell a 2.8 percent stake in the firm through a block deal.

?Container Corporation stock price jumped on rating upgrade
The cabinet on September 7 approved a revised long-term leasing policy for railways’ land and cut the licence fees from 6 percent to 1.5 percent. The lease period was increased from five to 35 years. Nomura upgraded the stock to “buy” and raised the target, an upside of over 25 percent from the current market price. Jefferies, too, has a “buy” rating on Concor with the target price. It said the revised policy would help in Concor’s privatisation.

?Dr Reddy’s Lab ended in green on addition of new drug and USFDA approval
The drug major on Wednesday announced the launch of Lenalidomide capsules in the US market with an approval from the US Food and Drug Administration (US FDA). The said drug is the therapeutic equivalent generic version of Revlimid (lenalidomide) capsules. The company is eligible for first-to-market, 180 days of generic drug exclusivity for Lenalidomide Capsules in 2.5 mg and 20 mg strengths.

News from the IPO world?

• Dhampur Bio Organics Lists at Rs.169 per share in IPO after demerger.
• Volkswagen AG seeks to defy market gloom going ahead with Porche IPO.
• Swastik Pipes gets nod for NSE Emerge IPO.

Numbers? that matter