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After a tough struggle, the intraday market ended on a lower
note. The Sensex was down 244.48 points or 0.9 percent at 26816.56 and the
Nifty slipped 63.50 points or 0.8 percent at 8042.00. About 1750 shares
advanced, 1310 shares declined, and 96 shares were unchanged. Cipla, Hero, Dr
Reddy's Labs, HDFC Bank and Infosys were top gainers while Hindalco, Tata
Steel, ONGC, Sesa Sterlite and Coal India were among the laggards.
Shares of Lupin hit a record high of Rs 1,386 on the Bombay Stock Exchange on a media report that the company is in advanced talks to sign a blockbuster deal with Merck Serono. As part of the deal, Lupin will manufacture Merck Serono's USD 1.5 billion worth branded mature drugs at its facilities, a media report said quoting unnamed sources.
Shares of Lupin hit a record high of Rs 1,386 on the Bombay Stock Exchange on a media report that the company is in advanced talks to sign a blockbuster deal with Merck Serono. As part of the deal, Lupin will manufacture Merck Serono's USD 1.5 billion worth branded mature drugs at its facilities, a media report said quoting unnamed sources.
Indian
rupee is trading at 61.10 a dollar, down 45 paise compared to Friday's close.
Brokerage house Emkay Share & Stock Brokers feels a combination of global
events, slower-than-expected GDP growth and a fairly valued rupee could drag
the currency down to 63-64 to the dollar over the next six months.
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