Hi-Tech Gears announced creation of a wholly-owned subsidiary at Ontario, Canada, by the name of Neo-Tech Smart Solutions Inc today after market hours. The company bought it for cash consideration of 2.5 lakh Canadian dollars remitted against allotment of 2.5 lakh common shares of 1 Canadian dollar each.

TCS released TCS BaNCS for payments V12 at SIBOS 2018 which will enable banks to unleash innovation, speed and transparency. TCS BaNCS is an application certified on gpi and hence TCS customers who already avail the SWIFT gpi option will receive payments at a greater speed and can maintain end-to-end tracking.

Indian stock markets have been slipping over the Brent Crude since the mid of August 2018 amid trade war escalations, Iran sanctions, retaliatory measures. Going forward, if the prices correct some more, we hold 78.70 followed by 77.40-77.30 as the supports while 80.30 followed by 81.85-81.90 as the immediate resistance.

JB Chemicals & Pharmaceuticals, underwent USFDA pre-approval inspection. The stock was highly volatile during Friday’s session where it opened flat and plunged nearly 3.9 per cent but recovered and surged 1.5 per cent and is now trading down with 1.2 per cent. 

Alembic Pharmaceuticals (APL) has received USFDA tentative approval for its ANDA Alogliptin tablets of 6.25 mg, 12.5 mg and 25 mg. The stock of Alembic Pharmaceuticals opened on a positive note with open and low as the same level, indicating optimism throughout the day. 

Lupin, the sixth largest pharma company by market capitalisation, received tentative US FDA approval for its generic Lurasidone Tablets of 20, 40, 60, 80 and 120 mg. Lupin which holds 8.8 per cent weightage in the Nifty pharma index was the top gainer in the index and surged 5 per cent on a closing basis. 

Continuing with the optimism shown on Friday, the Indian stock markets opened Monday’s session on a positive note but witnessed range-bound volatility during the day. Bounce back in the Indian rupee by 50 paise and Brent oil by 40 paise brought in some pessimism in the markets. The country reported WPI and CPI inflation. 

Hindustan Unilever is expected to report Q2FY19 results post market hours on Friday and thereby the stock is trading up 2.5 per cent ahead of the results. We hold 1620-1650 as the resistance provided stock closes above 1575 mark. On the downside, 1520 followed by 1475 will act as supports. 

Volatile Indian stock markets turned negative in the afternoon session dragged down by the Metal stocks. The nosedive in the Metal index was in the wake of a nearly 4 per cent fall in the Chinese markets after its central bank cut the minimum reserve requirement for the banks last Friday.

Maruti Suzuki reported sales number of its new Dzire brand which was launched last year in May. The brand posted the fastest sales in the history of the Indian automobiles at 3 lakhs in the last 17 months since its launch.