Wed, Feb 22, 2017 | updated 03:07 AM IST

Nifty, Sensex end in red; HUL down

Updated: Jul 18, 2016 16:12 IST

New Delhi, July 18 (ANI): The market on Monday ended in red with the Nifty holding 8500. The 50-share index traded down 32.70 points or 0.4 percent at 8508.70, while the Sensex traded down 89.84 points or 0.3 percent at 27746.66.

Shares such as Infosys, Reliance Industries, HDFC, Tata Motors, Axis Bank and Maruti were amongst the most active shares on exchanges.

Alembic Pharmaceuticals gained three percent intraday as ICICI Securities has initiated coverage on the stock with an add rating and target price of Rs. 654.

The brokerage house is upbeat about company's long term growth outlook considering strong US and India business, increased focus on complex and niche research and development and track record of healthy return ratios.

However, high base of FY16 and ongoing heavy investment phase will impact growth in near term, it feels.

Alembic Pharma is a vertically integrated pharmaceutical company with major focus on formulations business in India and US.

Alembic has successfully transformed its domestic formulation business towards high margin and fast growing specialty segments over past five years. US business is on strong footing now with 29 abbreviated new drug applications (ANDAs) pending for approval, high base of FY16 with generic Abilify would lead to significant US revenue decline in FY17. (ANI)

New Delhi [India], Feb.21 (ANI): Infomark Korea, a company with a global reputation for manufacturing 3G/4G mobile communication devices as well as wearable products is finalising a partnership with BSNL for production of WiMax mobile routers in the Kerala telecom circle.

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New Delhi [India], Feb. 21 (ANI):The Ministry of External Affairs (MEA) has asked all chairs and missions to to promote Ayush and Ayurveda, said Minister of State for External Affairs, General V.K. Singh (Retd), at an ASSOCHAM event held in New Delhi today.

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New Delhi [India], Feb.21 (ANI):Louis Taylor, Chief Executive Officer of UK Export Finance (UKEF), is visiting India from 20-23 February. UKEF, the UK's Export Credit Agency, has up to £1 billion in capacity to provide finance to support Indian buyers of British goods, services and intangibles, with support available in Indian Rupees.

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New Delhi [India], Feb. 21 (ANI-BusinessWire India): Herbalife, a global nutrition company, announced its partnership with Special Olympics Bharat (SOB) to support and encourage athletes with intellectual disabilities in India.

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New Delhi [India], Feb. 21 (ANI): After his appointment as the Chairman earlier today, Natarajan Chandrasekaran chaired his first Board Meeting of Tata Sons Limited.

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New Delhi [India], Feb 21 (ANI): Reliance Industries chairman and managing director Mukesh Ambani on Tuesday announced that Reliance Jio, which has achieved unprecedented level of acceptance in the world, has crossed a subscriber base of 100million in record time.

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New Delhi [India], Feb. 21 (ANI-BusinessWireIndia): HCL Infosystems, one of India's Premier IT Services, Distribution and Digital Solutions Company, showcased Cloud and Internet-of-Things (IoT) based solutions at the Future Decoded, Microsoft India's flagship conference, being held in Mumbai on February 21 and 22, 2017.

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New Delhi [India], Feb 21 (ANI): Addressing the media on the progress in making Digital Payments a mass movement in India, CEO Niti Aayog Amitabh Kant said that there are nearly 10 lakh citizens who have so far got reward money of over Rs. 153.5 crore for embracing digital payments.

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New Delhi [India], Feb. 21 (ANI): In the wake of the ongoing BMC Polls in Mumbai, Niranjan Hiranandani, CMD, Hiranandani Communities has encouraged Mumbaikars to exercise their voting rights and feel proud of their city.

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New Delhi [India], Feb. 21 (ANI): India's first healthcare education and training company, Vivo Healthcare is eyeing major expansion across India, South Asia and the Middle East, following fresh strategic funding from Netherlands-based ICCO Investments.

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New Delhi [India], Feb 21 (ANI-BusinessWireIndia): Eminent educationist and psychologist has been bestowed the BBC Knowledge Award for Outstanding Contribution to education at the World Education Awards at Taj Lands End in Bandra by the Minister of Education of Malaysia on 18th February for his mass movement to reduce dropouts and girl education.

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New Delhi [India], Feb. 21 (ANI): Siemens Limited and Siemens Rail Automation Ltd. S.A.U Spain have jointly won an order worth Rs. 287 crore to supply state-of-the-art signaling technology for the first two metro lines of the Nagpur Metro, the North-South and the East-West Corridors.

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New Delhi [India], Feb 21 (ANI-NewsVoir): Samsung, Apple and HTC have emerged as the most successful mobile brands in the first decade of smartphones in India, according to the Mobile Industry Consumer Insight (MICI) Report by CyberMedia (CMR) Research.

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New Delhi [India], Feb 21 (ANI): To commemorate the 25th year of the ASEAN India relations, TEPC (Telecom Equipment and Services Export Promotion Council) organized an inter-ministerial meeting between telecom ministers of ASEAN countries and India in New Delhi today.

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New Delhi [India], Feb. 21 (ANI): The most anticipated Goods and Services Tax (GST) bill, which is most likely to be a game-changer in terms of cost cutting will provide leverage to implement cost cutting mechanisms, thus paving way for consumers to avail Gensets at lower costs, said Sanjeev Nimkar, Vice President, Business Head Kirloskar Oil Engines Ltd., at the launch of their new range of High Horsepower (HHP) Gensets.

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New Delhi [India], Feb. 21 (ANI): After relentless debates have been underway discussing the impact of demonetisation, HDFC Bank Chairman Deepak Parekh on Tuesday stated that it is high time this discussion ended, while casting his vote in Mumbai today in the BMC polls.

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New Delhi [India], Feb. 21 (ANI): Known for its diverse publishing programmes across different disciplines, Oxford University Press (OUP) introduced its medical publishing programme to India.

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New Delhi [India], Feb. 21 (ANI): Excelity Global, India's largest provider of payroll administration, benefits and human capital management, announced its collaboration with Fortis Healthcare, on Monday.

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New Delhi [India], Feb. 21 (ANI): IT solutions provider Infosys retaliated against allegations made in the anonymous whistleblower's letter that was published in newspapers on Monday, stating that the assertions made are libellous and are aimed at tarnishing the image of Infosys and its management.

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Mumbai [India], Feb. 20 (ANI): Tata Consultancy Services (TCS) Ltd on Monday appointed V. Ramakrishnan as the Chief Financial Officer (CFO) of the company.

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