Zydus Lifesciences gained 5.84% on USFDA approval

The Markets Today in a nutshell

• Domestic benchmark indices ended on a negative note.
• Global markets were not so optimistic as expectations around economic data points have been negative as indicated by high-frequency indicators in European regions like UK PMI which is consequently down below 50 showing contraction in economy. India’s manufacturing PMI declined 3.8 to 55.1 for September. Metals, auto and FMCG shares saw massive selling. However, pharma and healthcare shares bucked the selloff.

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News you could use

?Zydus Lifesciences gained 5.84% on USFDA approval
The company’s US subsidiary received final approval from the United States Food and Drug Administration (USFDA) to market Mirabegron extended-release tablets. The drug is indicated for the treatment of overactive bladder (OAB) with symptoms of urge urinary incontinence, urgency and urinary frequency. 

?ONGC and OIL India jumps as government provides tax relief
The government cut the windfall tax on domestically-produced crude oil by about 24% to Rs 8,000 per tonne from Rs 10,500, according to a government notification. The government also halved the levy on export of diesel to Rs 5 per litre. It also scraped a levy of Rs 5 per litre on export of jet fuel, at the sixth fortnightly review of the one-off taxes on oil companies.

?Nykaa board approves bonus share issue
FSN E-Commerce Ventures (Nykaa) share price rallied after the company said its board on Monday (3rd October) approved issuing 5 bonus equity shares for each share held (5:1).

News from the IPO world?

• Deltatech Gaming, Pristine Logistics get SEBI’s go ahead to float IPO
• Foreign brokerage firm JP Morgan sees 60% upside for Paytm, despite the stock has fallen by 70% from IPO price
• Electronics Mart IPO opens on Tuesday (4th October 2022)

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