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Consumer durable & auto stocks lead
Fri, 14 Jun 01:30 pm

Backed by persistent buying in index heavyweights, Indian share markets continued to climb higher in the post-noon trading session. All the sectoral indices are trading in the green with consumer durable, auto and metal stocks being the biggest gainers.

BSE-Sensex is up 288 points and NSE-Nifty is trading 92 points up. BSE Mid Cap is trading up 1.1%, while the BSE Small Cap index is trading up 0.9%. The rupee is trading at 57.6 to the US dollar.

Majority of the cement stocks are trading in the green with Ultratech Cement and Birla Corp being the major gainers. As per a leading financial daily, ACC is launching a host of innovative products in ready-mix concrete (RMC). The company would be launching an Italian marble lookalike Imprintcrete, Permacrete that allows rainwater seepage for car park and garden pathways, fire-resistant Lightcrete that can float on water and Bucketcrete that provides 30 kg concrete in a bucket for retail consumers. ACC also plans to team up with municipal contractors to bid for concrete road-laying projects. For this purpose, the company has launched Speedcrete which once laid can harden within 24 hours and enable smooth flow of traffic. The conventional RMC takes 15-20 days to harden. The new products are expected to increase the company's sales in future. ACC stock is currently up 0.9%.

Most of the Indian pharma stocks are trading in the green with Dishman Pharma and Lupin being among the major gainers. As per a leading financial daily, Cadila Healthcare's US subsidiary has recalled a lot of its blood thinner medicine, Warfin 2 mg tablets from the US market. Reportedly, four tablets of the said drug have been found to be oversized as per a product complaint. The oversized tablets can have an adverse impact on the health of patients. The overdose of drug can lead to bleeding and if bleeding occurs in the central nervous system it can be fatal for the health of the patient. Further, it is also reported that the company has not received any reports of adverse events or any additional product complaint related to this lot to date, but as a precautionary measure, Zydus is recalling the lot from distribution. It must be noted that in recent times there have been quite a few product recalls by domestic pharma companies from the US market. Cadila was trading up by 2.5%.

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