New York: 06:34 || London: 11:34 || Mumbai: 15:04 || Singapore: 17:34

Reports India

Indian stock market and companies daily report (August 21, 2014, Thursday)

August 21, 2014, Thursday, 05:36 GMT | 00:36 EST | 09:06 IST | 11:36 SGT
Contributed by Angel Broking

Indian markets expected to open on flat note tracking SGX Nifty and Asian markets.

US markets fluctuated over the course of the trading day on Wednesday before ending the session mostly higher. The Dow and the S&P 500 both finished the day in positive territory, although the tech-heavy Nasdaq ended on negative note. Markets saw considerable volatility in afternoon trading following the release of the minutes of the Federal ReserveRs.s monetary policy meeting in late July.

European markets closed negative on Wednesday, after minutes from the latest Bank of England policy-setting meeting showed two members were in favor of hiking interest rates from this month.

Back home, Indian markets closed on negative note on account of profit booking amid weak European cues.

Markets Today

The trend deciding level for the day is 26,365 / 7,887 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 26,453 - 26,592 / 7,911 - 7,946 levels. However, if NIFTY trades below 26,365 / 7,887 levels for the first half-an-hour of trade then it may correct 26,226 - 26,139 / 7,852 - 7,829 levels.

Zydus receives final approval for Acyclovir Tablets

Zydus Cadila has received the final approval from the USFDA to market Acyclovir Tablets in the strengths of 400 mg and 800 mg. The drug falls under the anti-viral segment. The estimated sales in 2014 for Acyclovir Tablets is US$55.8mn, as per IMS. The product is highly competitive with around 8-10 players, thus the product is unlikely to contribute significantly.The company now has 95 approvals and has so far filed 249 ANDAs since the commencement of the filing process in FY2003-04. We remain neutral on the stock.

Economic and Political News

- Government mulls prior environmental approval for future coal block auction

- Trai paper on broadband next month, WhatsApp and Skype to follow

- Cost of houses pretty high, scope for reduction: RBI

Corporate News

- DLF to reduce debt to Rs.1 2,000-14,000cr by FY17

- Government orders Gail to cut gas from non-priority areas for retail needs

- Glenmark launches new cancer drug molecule