Indices at previous closing
Nifty50: 17,670 ▲205 (+1.1%)
Sensex: 59,276 ▲708 (+1.2%)
Nifty Bank: 37,148 ▲774 (+2.1%)
For more updates on F&O, click here.
Dr Reddy's to buy cardiovascular drug from Novartis
Pharma major Dr Reddy's Laboratories will purchase the cardiovascular drug brand Cidmus from Novartis for about ₹463 crore. As per the agreement, the Cidmus trademark will be transferred to Dr Reddy's in India. The drug witnessed sales of ₹136.4 crore in the 12 months ending February 2022.
Dr Reddy's said that it will leverage its wide base in India to increase the product's reach beyond Tier-1 and Tier-2 cities. This development comes just weeks after it signed an exclusive sales and distribution agreement with Novartis India for the latter's brands like the Voveran range, the Calcium range, and Methergine.
Kfin Technologies files for an IPO
Financial technology solutions provider Kfin Technologies has filed for a ₹2,400 crore IPO with the market regulator Sebi. The company, which has been a registrar on many Indian IPOs in the last few years, serves investors and issuers across asset classes like mutual funds, insurance and pension.
This IPO is completely going to be an offer for sale by the company's promoter General Atlantic Singapore Fund Pte Ltd, which holds about 75% stake in Kfin Tech. The company witnessed an almost four-fold rise in its net profit in the nine month period ending December 2021, to ₹97.70 crore from ₹23.60 crore in the same period the previous year.
Housing sales witness the biggest quarter since 2015
As per data from a real estate consulting firm, home sales across the top seven Indian cities were up 71% year-on-year in Q4 of FY22. About 99,550 units were sold in the period, which is the highest quarterly home sales figure since 2015.
The Mumbai Metropolitan Region and National Capital Region accounted for over 48% of the total sales. Meanwhile, the unsold inventory reduced by 2% to approximately 6.28 lakh units in Q4 FY22, from the 6.42 lakh units in Q4 FY21.
Sectoral indices (April 1)
| Top gainers | Top losers |
| Nifty PSU Bank ▲ 3.9% | Nifty Pharma ▼ 0.0% |
| Nifty Realty ▲ 2.3% | Nifty IT ▼ 0.0% |
Global markets (at 7:30 AM today)
| Indices | Today's movement |
| SGX Nifty | ▼ 0.1% |
| Nikkei 225 (Japan) | ▲ 0.0% |
| Hang Seng (Hong Kong) | ▲ 0.8% |
| SSE Composite (China) | ▲ 0.9% |
| Dow Jones (US) (April 1) | ▲ 0.4% |
| NYSE (US) (April 1) | ▲ 0.7% |
| Nasdaq (US) (April 1) | ▲ 0.2% |
| S&P 500 (US) (April 1) | ▲ 0.3% |
Fact of the day
As per a trade deal between India and Australia, more than 95% of around 12,000 Indian goods will now get duty-free access to the Australian market.
Source: Financial Express
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Investment in securities markets is subject to market risks; please read all the related documents carefully before investing. The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results. Details provided in the above newsletter are for educational purposes and should not be construed as investment advice by RKSV group. Investors should consult their investment advisor before making any investment decision.