Indices at 10:00 am
Nifty50 13,838 ▲ 89 (+0.6%)
Sensex 47,245 ▲ 272 (+0.5%)
Nifty Bank 30,746 ▲ 344 (+1.1%)
In the news
Coal India lines up new ventures
- The state-owned coal miner plans to enter two new businesses, namely aluminium mining and solar power. The stock was upbeat (+1.6%) today.
- The company has received approval to venture into the aluminium value chain (mining-refining-smelting) and the solar-power value chain (ingot-wafer-cell-module and generation). Reports suggest that this diversification would entail an investment of ₹1 lakh crore.
Lupin gets FDA nod for generic
- Lupin has received a tentative USFDA approval to market its generic treatment for toenail fungal infection.
- The topical solution is the generic equivalent of Jublia (product of Bausch Health Americas, Inc), which had an estimated annual sales of $222.9 million in the US. The stock is up 0.5% today.
Gold jumps on aid relief
- As US President Trump signed the long-awaited relief aid bill, gold and silver jumped by around 0.8% and 3.0%, respectively.
- Further, the US dollar index continued to remain weak giving gold an upward push. This year, gold has risen nearly 25% and silver has surged 49%.
Sectoral indices
| Top gainers | Top losers |
| Nifty Realty ▲ 3.0% | Nifty Pharma ▼ 0.0% |
| Nifty Metal ▲ 1.7% | NA |
| Global markets | Today's movement |
| Nikkei 225 (Japan) | ▲ 0.5% |
| Hang Seng (Hong Kong) | ▲ 0.0% |
| SSE Composite (China) | ▲ 0.3% |
| Dow Jones (US) 24/12 | ▲ 0.2% |
Fact of the day
In 1974, FedEx was on the verge of bankruptcy. It was saved when the founder took the last $5,000 of the company's assets and turned it into $27,000 by gambling in Las Vegas.
Source: Huffington Post
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