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Markets end 0.7% down for the week
Fri, 7 Feb Closing

Indian equity markets started the day on a positive note on firm global cues but turned volatile post noon session before finally closing the day in the green. Pharma and Metal stocks were the biggest gainers. While the BSE Sensex closed higher by 65 points, the NSE-Nifty closed higher by 26 points. BSE Mid Cap and the BSE Small Cap closed on a positive note.

As regards global markets, Asian indices closed in the green. European indices have also opened firm. The rupee was trading at Rs 62.4 to the dollar at the time of writing.

Cadila Healthcare Ltd has announced its results for the quarter ended December 2013. Consolidated net profit grew by 81.5% YoY helped by lower interest cost and taxation. The consolidated net sales also moved up by 17.8%. EBDITA increased by 16.9%. Cadila's business in the US registered a growth of 61%, while the emerging markets business grew by 30%. The company filed 31 additional ANDAs with the USFDA taking the cumulative ANDA filings for the period April-December 2013 to 49. For the nine months period ended December 2013, Cadila's consolidated net sales increased by 12.2%.

The Supreme Court of India (SC) has directed National Thermal Power Corporation (NTPC) to continue supplying power to Reliance controlled BSES Rajdhani Power Ltd and BSES Yamuna Power Ltd till March 26. SC has directed the discoms to pay Rs 500 m to NTPC as a part payment of its outstanding dues within two weeks. Hearing the petition by the two Reliance discoms, the court issued notice to the central and Delhi governments, the Delhi Electricity Regulatory Commission and NTPC, asking them to respond to the Reliance plea within two weeks and gave another one week to the discoms to file their rejoinders. The move comes against the backdrop of the Delhi government's recommendation to the regulator for revocation of the licenses issued to the two firms if they failed to pay their dues to NTPC and/or resort to long power outages in the city.

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