Cipla launches Cippoint – a point-of-care device
Cipla today announced the launch of Cippoint, a point-of-care testing device. This state-of-the-art device offers a wide range of testing parameters including cardiac markers, diabetes, infectious diseases, fertility, thyroid function, inflammation, metabolic markers, and coagulation markers.
The device is CE IVD approved – indicating the device is approved by the European In-Vitro Diagnostic Device Directive, thus ensuring reliable testing solutions, company said.
Cipla was quoting at Rs 1,064.45, down Rs 4.50, or 0.42 percent.
| Company | CMP Chg(%) | F.F Market Cap (Rs cr) | Contribution |
|---|---|---|---|
| Reliance | 2,462.95 | 916,494 | 2689.05 |
| ICICI Bank | 860.95 | 600,747 | 1336.16 |
| Adani Enterpris | 3,625.15 | 413,267 | 738.05 |
| HDFC Life | 602.35 | 129,455 | 695.7 |
| Tata Motors | 412.15 | 136,888 | 477 |
| SBI | 590.5 | 237,149 | 448.6 |
| M&M | 1,313.15 | 163,249 | 436.44 |
| UltraTechCement | 7,309.8 | 84,407 | 357.21 |
| Eicher Motors | 3,157 | 86,337 | 286.15 |
| Cipla | 1,064.65 | 55,855 | 106.44 |
Record gold prices fail to cheer Muthoot Finance, Manappuram shares
Shares of India’s top two gold loan companies have declined even as gold prices globally surged to a record. Analysts don’t expect a reversal in their performance as competition squeezes their growth and margins.
Muthoot Finance and Manappuram Finance shares have lost almost 30 percent each in the past one year. Muthoot Finance is down 0.8 percent year to date, while Manappuram Finance has gained 1.3 percent.
Gold prices in India hit an all-time high, tracking the global rally after data showed US inflation is cooling, buoying expectations the Federal Reserve will rein in aggressive interest rate hikes.
According to Vidhi Shah, an analyst at Antique Stock Broking, even though gold prices are higher, it is difficult to recover margins soon amid competition from banks and nonbanking finance companies. She expects margins will improve gradually, but not to historically high levels. Read More
BSE Realty index shed 0.6 percent dragged by Macrotech Developers, Phoenix Mills, Godrej Properties
Hot Stocks | Double-digit return likely from Speciality Restaurants, Minda Corp, Anant Raj in short term. Here’s why
Speciality Restaurants has broken a horizontal trend line resistance on the daily chart and has a strong bullish setup. It has retested its previous breakout level of Rs 240 after hitting a fresh all-time high…. Read More
BSE Metal index added 1.5 percent led by APL Apollo Tubes, Hindustan Zinc, Hindalco Industries
Tata Steel stock in focusCLSA has upgraded Tata Steel to outperform from sell and raised the target price to Rs 130 from Rs 95 per share.
V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
India’s outperformance in 2022 has been temporarily reversed in January 2023, till date, mainly due to FII outflows to other markets, mainly China. Consequently, Hang Seng and Shanghai Composite have appreciated by 9 percent and 4.4 percent respectively YTD while Nifty is down by around 0.3%.
India’s current underperformance is likely to be temporary since India has the best growth and earnings prospects among large economies. However, concerns of global slowdown this year and the possibility of FIIs again turning sellers at higher levels will cap the upside to the market in the near-term.
From now on Budget expectations also are likely to influence the market trend. IT stocks which have bounced back after the good Q3 results and high quality banking and capital goods stocks along with RIL have the strength to support the market.
Sundram Fasteners wins largest EV contract in its historySundram Fasteners has won the biggest EV contract in its 60-year history.The Chennai-based company has been awarded a USD 250-million contract by a leading global automobile manufacturer for the supply of sub-assemblies for its electric vehicle (EV) platform. The company plans to invest Rs 200 crore to support the new orders under the six-year long purchase package involving the supply of shaft sub-assemblies and drive gear sub-assemblies.
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