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Indian markets tumble
Tue, 4 Aug 01:30 pm

Indian Indices have extended their losses in the post noon trading session. Most of the stocks in sectoral indices are trading on a negative note with auto, energy and software sectors leading the losses.

The BSE-Sensex is trading down by 262 (down 1%) and the NSE-Nifty is trading down by 75 points (down 0.9%). The BSE Mid Cap index and the BSE Small Cap indices are trading marginally up. Gold prices, per 10 grams, are trading at Rs 24,660 levels. Silver price, per kilogram, is trading at Rs 33,532 levels. Crude oil is trading at Rs 2,933 per barrel. The rupee is trading at 63.92 to the US dollar.

Automobile stocks are trading mixed with Force Motors and Escorts leading the gainers. According to financial times, TVS Motors, the third largest two-wheeler manufacturer in India, has reported 2% YoY growth in its sales for the month of July 2015. The company's total exports for the concerned period grew by 15% on a YoY basis. Scooters sales for the company grew by 10% YoY while the sales for motorcycles registered a drop of 4% YoY. Further, three wheeler sales of the company registered a YoY increase of 15%. Presently the stock of TVS Motors is trading up by 0.5%.

As per a leading financial times, Ajanta Pharma, a specialty focused formulation company, has received final approval for its 3 ANDAs (Abbreviated New Drug Application) by US FDA (United States Food and Drug Administration). The approval is granted to Montelukast Tablets, 10mg, Montelukast sodium chewable tablets, 4mg & 5mg and Montelukast oral granules. The company is intending to launch these products shortly. Ajanta Pharma runs three divisions - prescription drugs, OTC and institutional sales. Stock of the company is trading up by 4.7%.

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