A muted start is expected for Indian markets on Monday as cues from Asian peers are mixed. However, stock specific action is likely to continue. Today, the major focus would be on banking heavyweight-HDFC Bank as it reported its number on weekend. The focus would also be on Infosys as it is scheduled to come out with its Q4 numbers.

Pharmaceutical company, Shilpa Medicare Ltd, announced today that it has received an establishment inspection report (EIR) from US Food & Drug Administration (USFDA) for the inspection conducted at API manufacturing site in Raichur (Karnataka).

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The key takeaway from Friday’s session was that Bank Nifty closed above its 20-day EMA for the first time in the last 39 trading sessions. Bank Nifty also managed to close above 23.6 per cent Fibonacci retracement level of its prior downward move (32,613.10-16,116.25) decisively.

Domestic benchmark indices have ended the week on a positive note today as Sensex zoomed by 3.22 per cent which is 986.11 points to be at the level of 31,588.72 while, Nifty went up by 3.05 per cent which is 273.95 points to the level of 9,266.75.

Indian private banking company, Kotak Mahindra Bank, announced the launch of ‘ATM on wheels’ facility in and around Mumbai amid the nationwide lockdown caused due to the rapid spread of Coronavirus.

The stock of Torrent Pharmaceuticals Limited has formed a bearish engulfing candlestick pattern on the weekly timeframe. This pattern is considered to be a bearish reversal pattern and usually occurs at the top of an uptrend.

The sectoral indices represented by Nifty Pharma, Nifty Auto and Nifty Metal reported double digit weekly gains in the range of 15 per cent to 11 per cent.

Indian multinational car manufacturing corporation, Mahindra & Mahindra, announced today that it is planning to raise Rs 1,000 crore through the allotment of non-convertible debentures.

On Friday, Zydus Cadila announced that it has received a final approval from United States Food & Drug Administration to market Erlotinib tablets (US RLD: Tarceva tablets), in the strengths of 25 mg, 100 mg and 150 mg.