Business Tips of the Day: Keep an eye on the shares of Vedanta, Jindal Stainless and Zydus Lifesciences today, you can get good news
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Pharma company Zydus Lifesciences has received approval from the US FDA for Loperamide hydrochloride capsules. NBCC has received work orders worth Rs 146.39 crore. GR Infraprojects has received approval letter from East Coast Railway for tunneling in Khurda-Bolangir rail line project. RPP Infra Projects has bagged a project in Bareilly, Uttar Pradesh. SML Isuzu has decided to increase truck prices by 4 per cent and buses by 6 per cent from April 1.
Which stocks will remain volatile
According to the momentum indicator MACD, the shares of HDFC Bank, Ujjivan SFB, PNC Infratech, HDFC and Emami are likely to gain momentum on Wednesday. On the other hand, shares of Adani Power, Shipping Corporation, Max Healthcare, L&T and Anant Raj may decline.
market conditions
Domestic equity markets declined on Tuesday amid heavy volatility with the BSE Sensex losing over 40 points. Selling in IT and auto stocks offset losses in banking and petroleum stocks, which were offset by a mixed trend in global markets. The Sensex closed at 57,613.72, down 40.14 points. 19 Sensex stocks were in loss while 11 were in profit. The National Stock Exchange’s Nifty also closed at 16,951.70 points down by 34 points. Of the 50 Nifty stocks, 32 ended with losses while 17 ended with gains.
Tech Mahindra, Tata Motors, Bharti Airtel, Wipro, Bajaj Finserv, HCL Technologies, Bajaj Finance, Larsen & Toubro, Mahindra & Mahindra and UltraTech Cement were major losers in the Sensex pack. On the other hand, gainers included IndusInd Bank, PowerGrid, HDFC Bank, ICICI Bank, NTPC, Reliance Industries, HDFC and Tata Steel. Investors are taking a cautious approach in view of the possibility of an increase in the policy rate of the Reserve Bank of India.
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