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Benchmark equity indices pared early gains and closed lower, dragged by RIL, financial services, FMCG and technology stocks. The Sensex closed 1.31% lower at 57696.46 and Nifty ended 1.18% lower at 17196.70.
Nifty sectoral indices losers were Financial Services[-1.13%], FMCG [-1.04%] and Energy [-0.99%], IT [-0.86%] and Pharma [-0.83%]. Reliance Industries Limited fell 3% today.
Indian rupee closed 17 paise lower to 75.16 against the Us dollar on Friday.
Stock in News Today
Morepen Laboratories: The drug maker has received an approval from the US health regulator to market its anti-allergy drug Fexofinadine Hydrochloride in the American market. Morepen’s product is the generic version of Sanofi Aventis’ anti- allergy drug.
Sun Pharma Advanced Research Company: The company signed an agreement with Biomodifying LLC to exclusively license Biomodifying’s intellectual property, including patents and patent applications. Under the agreement, Biomodifying is eligible for an up-front payment, milestone payments on pre-specified clinical, regulatory and commercialised milestones, as well as royalties on sales, the company said in an exchange filing.
KEC International: The company has bagged new orders worth Rs 1,065 crore across various businesses, including transmission and distribution (T&D), railways, civil, oil and gas pipelines and cables. The company’s year-to-date order stood at Rs 11,000 crore, a growth of 2.5 times over the same period last year. The company has secured orders for T&D projects in India, Middle East, Africa, and Americas.
Jet Airways: The airline is in advanced talks with Boeing and Airbus for buying and leasing planes. The airline is expected to launch its operation next year. Shares of the company closed 5% higher.
ONGC: The government-owned company signed an agreement with Solar Energy Corporation of India (SECI) to strengthen its footprint in clean energy projects and renewable energy space. A Memorandum of Understanding was signed by ONGC Chairman and Managing Director Subhash Kumar and SECI Managing Director Suman Sharma.
Indian Energy Exchange Ltd: Shares of the company closed 5.18% as the stock turned ex-date for 2:1 bonus shares. The company has fixed December 6 as the ‘record date’ to ascertain the eligibility of shareholders entitled for the issuance of bonus equity shares of the company.
Unichem Laboratories: Shares closed 13.80% after the company received ANDA approval for its Aripiprazole tablets USP from the U.S. FDA. The tablets are indicated for Schizophrenia and Irritability associated with Autistic Disorder. The tablets will be commercialized from Unichem’s Ghaziabad plant, the company said.