The market is still sluggish with no major triggers in sight and FII volume drying up with Chirstmas holidays. The Sensex is down 44.49 points at 25691.41 and the Nifty is down 16.30 points at 7818.15. About 1227 shares have advanced, 594 shares declined, and 108 shares are unchanged.
State Bank of India (SBI) will raise 12,000cr by way of issue of Tier II bonds to comply with capital needs under the Basel III rules. While the bank did not prescribe any time frame and in how many tranches it would raise the bonds, the fund raising will happen through private placement. In August this year the government had announced fund infusion of 20,088cr into 13 PSU banks with SBI cornering a hefty 5,531cr.
State Bank of India (SBI) will raise 12,000cr by way of issue of Tier II bonds to comply with capital needs under the Basel III rules. While the bank did not prescribe any time frame and in how many tranches it would raise the bonds, the fund raising will happen through private placement. In August this year the government had announced fund infusion of 20,088cr into 13 PSU banks with SBI cornering a hefty 5,531cr.
Cipla launches generic hepatitis C drug in India
Cipla has launched generic tablets used for treating of hepatitis C under the brand name 'Hepcvir-L' costing Rs 25,000 for a bottle of 28 tablets in India. The company's product is a generic version of the S-based drug maker Gilead Sciences Inc's Harvoni tablets. Hepcvir-L is the first once-a-day, fixed dose oral combination therapy that has been approved for chronic hepatitis C genotype 1 patients as per the company.
Economic and Political News
- FIPB clears nine proposals including that of Cadila Healthcare and Volvo Asset Finance India.
- Directorate of Revenue Intelligence investigating over invoicing of imported coal: Goyal
- No proposal for revision of export po licy on iron ore: Nirmala Sitharaman
Corporate News Today
- Godrej Agrovet acquires 25% additional stake in Creamline Dairy at Rs150cr.
- JSPL resume mining at Australian coal mines
- RCom sells 150 flats in Navi Mumbai for Rs 330 cr
Aurobindo rises on USFDA approval for Olopatadine Hydrochloride.
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