Stock Market Today: The GIFT Nifty on the NSE IX increased by 65 points, or 0.29 percent, to 22,841.50 on Tuesday, indicating that Dalal Street was off to a good start. Tuesday saw a rise in Tokyo stocks as a result of Wall Street’s gains in tech-related firms, and investors were watching important US inflation data.While the larger Topix index gained 0.43 percent, or 11.81 points, to 2,740.13, the benchmark Nikkei 225 index increased by 0.56 percent, or 219.69 points, to 39,566.73. Early Asian trade saw an increase in oil prices as expectations that talks between Israel and Hamas would result in a truce in Gaza and reduce tension in the Middle East waned.
Stock Market Today: Stocks in focus
Axis Bank
US private equity behemoth Bain Capital is getting ready to completely abandon the private sector lender Axis Bank, more than six years after it first entered the company. Three well-informed individuals claim that the company intends to reduce its remaining interest and start a new block deal valued at about Rs 430 million. According to one of the sources, entities connected to Bain Capital initiated the block deal, which is meant to be a clean-up trade that signifies Bain Capital’s total withdrawal. According to a source who spoke with Moneycontrol, the offer price ranges from Rs 1,071 to Rs 1,076.05 per share, or 0% to 0.47% less than the market price.
Tata Motors
On April 8, Tata Motors said that retail sales of Jaguar Land Rover grew 11% YoY to 114,038 units in the fourth quarter of FY24. The company ascribed this spike to higher production and steady demand from throughout the world. According to the company’s exchange filing, retail sales for the quarter climbed by 32% in the UK, 21% in North America, and 16% abroad as compared to the same period last year. However, sales declined by 2% in Europe and by 9% in China. Tata Motors also revealed a 20% YoY rise in full-year sales.
Lupin
The US Food and Drug Administration (USFDA) has given the pharmaceutical company Lupin permission to market a generic medication intended to treat tardive dyskinesia, which causes involuntary movements. This announcement was made on Monday. The company announced that it has been given permission to sell 40 mg and 80 mg dosages of Valbenazine Capsules. Lupin is selling a generic form of Ingrezza Capsules, which were created by Neurocrine Biosciences, Inc. As one of the first companies to submit an abbreviated new drug application (ANDA), Lupin is eligible for a shared 180-day generic exclusivity term.
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