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Sensex reclaims 32,000 as banks, auto rally
(17:03, 28 May 2020)

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The-market-ended-with-robust-gains-on-Thursday,-backed-by-rally-in-banks-and-auto-shares.-The-buying-was-supported-by-hopes-of-further-opening-up-of-the-economy-and-more-stimulus-measures-by-the-government.-The-barometer-S&P-BSE-Sensex-jumped-595.37-points-or-1.88%-at-32,200.59.-The-Nifty-50-index-gained-175.15-points-or-1.88%-at-9,490.10.

The-Nifty-opened-higher-at-9,364.95,-tracking-positive-news-from-global-market.-The-index-raced-higher-to-cross-the-9,400-mark-in-morning-trade.-It-further-extended-gains-and-crossed-9,450-level-in-mid-morning-session.-The-index-failed-to-cross-the-9,500-mark-due-to-stiff-resistance-and-hovered-sideways-in-afternoon-session.-The-barometer,-however,-briefly-crossed-the-9,500-mark-in-late-trade.

The-broader-market-trailed-the-benchmarks.-The-BSE-Mid-Cap-index-rose-1.34%-and-the-BSE-Small-Cap-index-gained-1.42%.-

The-market-breadth-was-strong.-On-the-BSE,-1527-shares-rose-and-814-shares-fell.-A-total-of-160-shares-were-unchanged.

The-media-reported-that-India's-GST-Council-is-likely-to-meet-in-the-second-week-of-June-to-discuss-the-impact-of-the-coronavirus-pandemic-on-the-economy-of-states,-among-other-things.-Meanwhile,-India's-Q4-GDP-numbers-will-be-announced-by-the-National-Statistical-Office-(NSO)-on-Friday,-29-May.

COVID-19-update:

Total-COVID-19-confirmed-cases-worldwide-stood-at-56,97,334-far-with-3,55,758-deaths.-India-reported-86,110-active-cases-of-COVID-19-infection-and-4,531-deaths,-according-to-the-data-from-the-Ministry-of-Health-and-Family-Welfare,-Government-of-India.

Numbers-to-Watch:

The-yield-on-10-year-benchmark-federal-paper-rose-to-5.990%-as-compared-with-5.984%-at-close-in-the-previous-trading-session.

In-the-foreign-exchange-market,-the-rupee-edged-lower-against-the-dollar.-The-partially-convertible-rupee-was-hovering-at-75.76,-compared-with-its-close-of-75.7125-during-the-previous-trading-session.

In-the-commodities-market,-Brent-crude-for-July-2020-settlement-fell-41-cents-at-$34.33-a-barrel.-The-contract-fell-$1.43,-or-3.95%-to-settle-at-$34.74-a-barrel-in-the-previous-trading-session.

Foreign-Markets:

European-markets-were-trading-higher-as-European-Union-(EU)-planned-to-open-up-tourist-destinations-for-the-summer-despite-fears-of-the-ongoing-COVID-19-pandemic.-Tourism-represents-10%-of-the-European-economy-and-creates-27-million-jobs-directly-and-indirectly-across-the-region.-Investor-sentiment-was-also-improved-after-the-European-Commission-(EC)-unveiled-plans-for-a-750-billion-euro-($826.5-billion)-recovery-fund.

Asian-markets-ended-on-a-mixed-note-as-US-China-tension-woes-competed-with-the-hopes-of-an-economic-recovery-from-the-coronavirus-crisis.

Hong-Kong's-Hang-Seng-index-closed-0.72%-lower-after-China's-National-People's-Congress-on-Thursday-voted-on-a-decision-that-paves-the-way-for-sweeping-anti-sedition-laws-to-be-directly-enacted-in-Hong-Kong.-China's-legislature-approved-a-decision-to-force-a-controversial-national-security-law-on-Hong-Kong,-in-an-extraordinary-and-unprecedented-move-aimed-at-bringing-the-semi-autonomous-territory-further-under-Beijing's-control.

Meanwhile,-Japanese-Prime-Minister-Shinzo-Abe's-cabinet-approved-a-new-$1.1-trillion-stimulus-package-that-includes-significant-direct-spending,-to-stop-the-coronavirus-pandemic-pushing-the-world's-third-largest-economy-deeper-into-recession.

The-US-equity-market-finished-sharply-higher-on-Wednesday,-27-May-2020,-extending-the-market's-gains-into-a-third-day,-on-optimism-that-economic-activity-is-gathering-steam-and-authorities-may-offer-more-stimulus-to-bolster-the-recovery.-Hopes-for-potential-COVID-19-vaccines-under-development-have-also-helped-propel-stocks.-

Buzzing-Indian-Segments:

The-Nifty-Auto-index-gained-3.65%-to-6,112.30,-extending-gains-for-seventh-day.-The-index-has-added-12.56%-in-seven-trading-sessions.

Hero-MotoCorp-(up-5.52%),-Maruti-Suzuki-India-(up-4.37%),-Ashok-Leyland-(up-2.66%),-Tata-Motors-(up-2.66%),-Mahindra-&-Mahindra-(up-1.77%),-Escorts-(up-1.52%)-and-Bajaj-Auto-(up-1.05%)-advanced.-

Eicher-Motors-soared-8.33%-to-₹-16216.90,-extending-its-winning-run-to-third-consecutive-trading-session.-The-company's-board-will-consider-stock-split-and-Q4-results-on-12-June-2020.-

TVS-Motor-Company-rose-2.77%-ahead-of-Q4-results-today,-28-May.-

The-Nifty-Bank-index-rose-2.45%-to-19,169.80.-The-index-is-up-10.94%-in-three-sessions.-

IndusInd-Bank-(up-4.95%),-HDFC-Bank-(up-4.56%),-Federal-Bank-(up-4.27%),-ICICI-Bank-(up-2.49%),-Kotak-Mahindra-Bank-(up-0.95%),-Axis-Bank-(up-0.90%),-Bandhan-Bank-(up-0.62%)-and-Bank-of-Baroda-(up-0.39%)-advanced.-

Earnings-Impact:

Federal-Bank-rose-4.27%.-The-bank's-net-profit-dropped-21.04%-to-₹-301.23-crore-on-19.27%-increase-in-total-income-to-₹-4,107.95-crore-in-Q4-March-2020-over-Q4-March-2019.-Profit-before-tax-(PBT)-fell-32.09%-to-₹-391.82-crore-in-Q4-March-2020-over-Q4-March-2019.-Tax-expense-fell-53.66%-to-₹-90.59-crore-during-the-period-under-review.-

Provisions-and-contingencies-surged-219.25%-to-₹-567.50-crore-in-Q4-March-2020-from-₹-177.76-crore-in-Q4-March-2019.-Provision-coverage-ratio-of-the-bank-was-at-72.48%-as-on-31-March-2020.-The-result-was-declared-during-market-hours-today,-28-May-2020.

United-Spirits-fell-2.45%-after-the-company-reported-52.5%-decline-in-consolidated-net-profit-to-₹-58.40-crore-on-14.1%-fall-in-net-sales-to-₹-1990.50-crore-in-Q4-March-2020-over-Q4-March-2019.-Consolidated-profit-before-tax-(PBT)-stood-at-₹-183.50-crore-in-Q4-FY20,-up-by-5.6%-from-₹-173.70-crore-in-Q4-FY19.-Revenue-declined-primarily-due-to-COVID-19-led-disruption-in-India-in-March,-which-exacerbated-the-impact-of-the-ongoing-consumption-slowdown.-Employee-expense-declined-36.91%-to-₹-109.40-crore-during-the-quarter.-On-the-volume-front,-the-alcoholic-beverages-manufacturer's-prestige-&-above-segment-witnessed-19.6%-fall-in-volumes-as-it-stood-at-8.4-EUm-while-the-popular-segment's-volumes-contracted-by-7.5%-to-9.9-EUm-in-Q4-FY20-over-Q4-FY19.

Radico-Khaitan-rose-1.26%.-The-liquor-maker-reported-20.2%-fall-in-consolidated-net-profit-to-₹-32.67-crore-on-14.8%-rise-in-net-sales-to-₹-585.36-crore-in-Q4-March-2020-over-Q4-March-2019.-Profit-before-tax-(PBT)-stood-at-₹-54.05-crore-in-Q4-FY20,-down-by-4.6%-to-₹-56.65-crore-in-Q4-FY19.-Current-tax-expense-surged-116.69%-YoY-to-₹-13.89-crore-during-the-quarter.-Total-volume-jumped-13.1%-to-5.82-million-cases-in-Q4-March-2020-over-Q4-March-2019.-Prestige-&-Above-segment-grew-11.3%-while-Regular-&-Others-segment-rose-13.8%-YoY-during-the-quarter.-Prestige-&-Above-segment-constituted-26.4%-of-the-total-volume-during-the-quarter-compared-with-26.8%-in-the-corresponding-period-of-the-previous-year.-

Quess-Corp-rose-4.46%-after-the-company-reported-a-consolidated-net-loss-of-₹-629.92-crore-in-Q4-March-2020-compared-with-net-profit-of-₹-75.50-crore-in-Q4-March-2019.-Consolidated-net-sales-jumped-30.5%-to-₹-2,994.59-crore-in-Q4-March-2020-over-₹-2,294.77-crore-in-Q4-March-2019.-Pre-tax-loss-stood-at-₹-594.36-crore-in-Q4-March-2020-as-compared-to-a-pre-tax-profit-of-₹-87.59-crore-in-Q4-March-2019.-The-company-incurred-one-off-non-cash-charge-of-₹-664-crore-on-account-of-goodwill-impairment-and-change-in-tax-regime.-Consolidated-EBITDA-grew-28%-to-₹-169-crore-in-Q4-FY20-over-Q4-FY19-due-to-Covid-19-impact.-EBITDA-margin-stood-at-5.63%-in-Q4-FY20-as-against-5.74%-in-Q4-FY19.

Aditya-Birla-Fashion-and-Retail-soared-9.53%.-The-company-reported-a-consolidated-net-loss-of-₹-146.59-crore-in-Q4-March-2020-as-against-a-net-profit-of-₹-202.64-crore-posted-in-Q4-March-2019.-Earnings-were-impacted-by-the-COVID-19-pandemic-early-March-leading-to-movement-restrictions-and-heightened-sense-of-insecurity-among-people.-Aditya-Birla-Fashion-reported-sales-Loss-due-to-COVID-impact-at-₹-339-crore-leading-to-a-gross-margin-loss-of-₹-200-crore-in-Q4-March-2020.-Lifestyle-brands-reported-a-5%-drop-in-sales-in-Q4-March-2020-to-₹-1072-crore-from-₹-1132-crore-posted-in-the-same-period-last-year.-The-segment-witnessed-a-decline-in-EBITDA-owing-to-the-drop-in-sales-in-the-month-of-March-due-to-COVID-related-disruptions.-Fast-Fashion-segment-continued-with-its-focus-around-improving-operating-performance

Tata-Investment-Corporation-rose-0.63%.-The-holding-company-reported-consolidated-net-loss-of-₹-36.75-crore-in-Q4-March-2020,-higher-than-net-loss-of-₹-6.02-crore-in-Q4-March-2019.-Total-income-dropped-17.2%-to-₹-21.41-crore-in-Q4-March-2020-over-₹-25.87-crore-in-Q4-March-2019.-Pre-tax-loss-stood-at-₹-36.62-crore-in-Q4-March-2020-as-against-pre-tax-loss-of-₹-4.42-crore-in-Q4-March-2019.-Current-tax-expenses-jumped-55.7%-to-₹-2.71-crore-in-Q4-March-2020-as-against-₹-1.74-crore-in-Q4-March-2019.-The-result-was-announced-after-market-hours-yesterday,-27-May-2020.

Stocks-in-Spotlight:

Vedanta-rose-2.39%.-India-Ratings-and-Research-downgraded-rating-of-the-company-to-IND-AA--from-previous-rating-of-IND-AA-with-a-negative-outlook.

Granules-India-fell-1.27%.-The-pharmaceutical-company-said-that-the-US-drug-regulator-did-not-detect-cancer-causing-N-Nitrosodimethylamine-(NDMA)-in-the-company's-API-and-finished-dosage-tablets.-

Sun-Pharmaceutical-Industries-rose-1.93%.-The-drug-major-and-Sun-Pharma-Advanced-Research-Company-(SPARC)-today-announced-a-worldwide-licensing-agreement-on-the-development-and-commercialization-of-SCD-044-which-is-being-evaluated-as-a-potential-oral-treatment-for-atopic-dermatitis,-psoriasis-and-other-auto-immune-disorders.-SCD-044-is-entering-phase-2-clinical-trials.-Under-terms-of-the-license-agreement,-Sun-Pharma-will-pay-SPARC-an-upfront-payment-of-$20-million.-SPARC-will-also-be-eligible-to-receive-up-to-$125-million-as-milestone-payments-contingent-upon-theachievement-of-clinical,-regulatory-and-sales-milestones,-as-well-as-tiered-royalties-on-sales.-Sun-Pharma-will-be-responsible-for-the-development,-regulatory-filings,-manufacturing-and-commercialization-of-the-product-globally.

Powered-by-Capital-Market---Live-News

The-market-ended-with-robust-gains-on-Thursday,-backed-by-rally-in-banks-and-auto-shares.-The-buying-was-supported-by-hopes-of-further-opening-up-of-the-economy-and-more-stimulus-measures-by-the-government.-The-barometer-S&P-BSE-Sensex-jumped-595.37-points-or-1.88%-at-32,200.59.-The-Nifty-50-index-gained-175.15-points-or-1.88%-at-9,490.10.

The-Nifty-opened-higher-at-9,364.95,-tracking-positive-news-from-global-market.-The-index-raced-higher-to-cross-the-9,400-mark-in-morning-trade.-It-further-extended-gains-and-crossed-9,450-level-in-mid-morning-session.-The-index-failed-to-cross-the-9,500-mark-due-to-stiff-resistance-and-hovered-sideways-in-afternoon-session.-The-barometer,-however,-briefly-crossed-the-9,500-mark-in-late-trade.

The-broader-market-trailed-the-benchmarks.-The-BSE-Mid-Cap-index-rose-1.34%-and-the-BSE-Small-Cap-index-gained-1.42%.-

The-market-breadth-was-strong.-On-the-BSE,-1527-shares-rose-and-814-shares-fell.-A-total-of-160-shares-were-unchanged.

The-media-reported-that-India's-GST-Council-is-likely-to-meet-in-the-second-week-of-June-to-discuss-the-impact-of-the-coronavirus-pandemic-on-the-economy-of-states,-among-other-things.-Meanwhile,-India's-Q4-GDP-numbers-will-be-announced-by-the-National-Statistical-Office-(NSO)-on-Friday,-29-May.

COVID-19-update:

Total-COVID-19-confirmed-cases-worldwide-stood-at-56,97,334-far-with-3,55,758-deaths.-India-reported-86,110-active-cases-of-COVID-19-infection-and-4,531-deaths,-according-to-the-data-from-the-Ministry-of-Health-and-Family-Welfare,-Government-of-India.

Numbers-to-Watch:

The-yield-on-10-year-benchmark-federal-paper-rose-to-5.990%-as-compared-with-5.984%-at-close-in-the-previous-trading-session.

In-the-foreign-exchange-market,-the-rupee-edged-lower-against-the-dollar.-The-partially-convertible-rupee-was-hovering-at-75.76,-compared-with-its-close-of-75.7125-during-the-previous-trading-session.

In-the-commodities-market,-Brent-crude-for-July-2020-settlement-fell-41-cents-at-$34.33-a-barrel.-The-contract-fell-$1.43,-or-3.95%-to-settle-at-$34.74-a-barrel-in-the-previous-trading-session.

Foreign-Markets:

European-markets-were-trading-higher-as-European-Union-(EU)-planned-to-open-up-tourist-destinations-for-the-summer-despite-fears-of-the-ongoing-COVID-19-pandemic.-Tourism-represents-10%-of-the-European-economy-and-creates-27-million-jobs-directly-and-indirectly-across-the-region.-Investor-sentiment-was-also-improved-after-the-European-Commission-(EC)-unveiled-plans-for-a-750-billion-euro-($826.5-billion)-recovery-fund.

Asian-markets-ended-on-a-mixed-note-as-US-China-tension-woes-competed-with-the-hopes-of-an-economic-recovery-from-the-coronavirus-crisis.

Hong-Kong's-Hang-Seng-index-closed-0.72%-lower-after-China's-National-People's-Congress-on-Thursday-voted-on-a-decision-that-paves-the-way-for-sweeping-anti-sedition-laws-to-be-directly-enacted-in-Hong-Kong.-China's-legislature-approved-a-decision-to-force-a-controversial-national-security-law-on-Hong-Kong,-in-an-extraordinary-and-unprecedented-move-aimed-at-bringing-the-semi-autonomous-territory-further-under-Beijing's-control.

Meanwhile,-Japanese-Prime-Minister-Shinzo-Abe's-cabinet-approved-a-new-$1.1-trillion-stimulus-package-that-includes-significant-direct-spending,-to-stop-the-coronavirus-pandemic-pushing-the-world's-third-largest-economy-deeper-into-recession.

The-US-equity-market-finished-sharply-higher-on-Wednesday,-27-May-2020,-extending-the-market's-gains-into-a-third-day,-on-optimism-that-economic-activity-is-gathering-steam-and-authorities-may-offer-more-stimulus-to-bolster-the-recovery.-Hopes-for-potential-COVID-19-vaccines-under-development-have-also-helped-propel-stocks.-

Buzzing-Indian-Segments:

The-Nifty-Auto-index-gained-3.65%-to-6,112.30,-extending-gains-for-seventh-day.-The-index-has-added-12.56%-in-seven-trading-sessions.

Hero-MotoCorp-(up-5.52%),-Maruti-Suzuki-India-(up-4.37%),-Ashok-Leyland-(up-2.66%),-Tata-Motors-(up-2.66%),-Mahindra-&-Mahindra-(up-1.77%),-Escorts-(up-1.52%)-and-Bajaj-Auto-(up-1.05%)-advanced.-

Eicher-Motors-soared-8.33%-to-₹-16216.90,-extending-its-winning-run-to-third-consecutive-trading-session.-The-company's-board-will-consider-stock-split-and-Q4-results-on-12-June-2020.-

TVS-Motor-Company-rose-2.77%-ahead-of-Q4-results-today,-28-May.-

The-Nifty-Bank-index-rose-2.45%-to-19,169.80.-The-index-is-up-10.94%-in-three-sessions.-

IndusInd-Bank-(up-4.95%),-HDFC-Bank-(up-4.56%),-Federal-Bank-(up-4.27%),-ICICI-Bank-(up-2.49%),-Kotak-Mahindra-Bank-(up-0.95%),-Axis-Bank-(up-0.90%),-Bandhan-Bank-(up-0.62%)-and-Bank-of-Baroda-(up-0.39%)-advanced.-

Earnings-Impact:

Federal-Bank-rose-4.27%.-The-bank's-net-profit-dropped-21.04%-to-₹-301.23-crore-on-19.27%-increase-in-total-income-to-₹-4,107.95-crore-in-Q4-March-2020-over-Q4-March-2019.-Profit-before-tax-(PBT)-fell-32.09%-to-₹-391.82-crore-in-Q4-March-2020-over-Q4-March-2019.-Tax-expense-fell-53.66%-to-₹-90.59-crore-during-the-period-under-review.-

Provisions-and-contingencies-surged-219.25%-to-₹-567.50-crore-in-Q4-March-2020-from-₹-177.76-crore-in-Q4-March-2019.-Provision-coverage-ratio-of-the-bank-was-at-72.48%-as-on-31-March-2020.-The-result-was-declared-during-market-hours-today,-28-May-2020.

United-Spirits-fell-2.45%-after-the-company-reported-52.5%-decline-in-consolidated-net-profit-to-₹-58.40-crore-on-14.1%-fall-in-net-sales-to-₹-1990.50-crore-in-Q4-March-2020-over-Q4-March-2019.-Consolidated-profit-before-tax-(PBT)-stood-at-₹-183.50-crore-in-Q4-FY20,-up-by-5.6%-from-₹-173.70-crore-in-Q4-FY19.-Revenue-declined-primarily-due-to-COVID-19-led-disruption-in-India-in-March,-which-exacerbated-the-impact-of-the-ongoing-consumption-slowdown.-Employee-expense-declined-36.91%-to-₹-109.40-crore-during-the-quarter.-On-the-volume-front,-the-alcoholic-beverages-manufacturer's-prestige-&-above-segment-witnessed-19.6%-fall-in-volumes-as-it-stood-at-8.4-EUm-while-the-popular-segment's-volumes-contracted-by-7.5%-to-9.9-EUm-in-Q4-FY20-over-Q4-FY19.

Radico-Khaitan-rose-1.26%.-The-liquor-maker-reported-20.2%-fall-in-consolidated-net-profit-to-₹-32.67-crore-on-14.8%-rise-in-net-sales-to-₹-585.36-crore-in-Q4-March-2020-over-Q4-March-2019.-Profit-before-tax-(PBT)-stood-at-₹-54.05-crore-in-Q4-FY20,-down-by-4.6%-to-₹-56.65-crore-in-Q4-FY19.-Current-tax-expense-surged-116.69%-YoY-to-₹-13.89-crore-during-the-quarter.-Total-volume-jumped-13.1%-to-5.82-million-cases-in-Q4-March-2020-over-Q4-March-2019.-Prestige-&-Above-segment-grew-11.3%-while-Regular-&-Others-segment-rose-13.8%-YoY-during-the-quarter.-Prestige-&-Above-segment-constituted-26.4%-of-the-total-volume-during-the-quarter-compared-with-26.8%-in-the-corresponding-period-of-the-previous-year.-

Quess-Corp-rose-4.46%-after-the-company-reported-a-consolidated-net-loss-of-₹-629.92-crore-in-Q4-March-2020-compared-with-net-profit-of-₹-75.50-crore-in-Q4-March-2019.-Consolidated-net-sales-jumped-30.5%-to-₹-2,994.59-crore-in-Q4-March-2020-over-₹-2,294.77-crore-in-Q4-March-2019.-Pre-tax-loss-stood-at-₹-594.36-crore-in-Q4-March-2020-as-compared-to-a-pre-tax-profit-of-₹-87.59-crore-in-Q4-March-2019.-The-company-incurred-one-off-non-cash-charge-of-₹-664-crore-on-account-of-goodwill-impairment-and-change-in-tax-regime.-Consolidated-EBITDA-grew-28%-to-₹-169-crore-in-Q4-FY20-over-Q4-FY19-due-to-Covid-19-impact.-EBITDA-margin-stood-at-5.63%-in-Q4-FY20-as-against-5.74%-in-Q4-FY19.

Aditya-Birla-Fashion-and-Retail-soared-9.53%.-The-company-reported-a-consolidated-net-loss-of-₹-146.59-crore-in-Q4-March-2020-as-against-a-net-profit-of-₹-202.64-crore-posted-in-Q4-March-2019.-Earnings-were-impacted-by-the-COVID-19-pandemic-early-March-leading-to-movement-restrictions-and-heightened-sense-of-insecurity-among-people.-Aditya-Birla-Fashion-reported-sales-Loss-due-to-COVID-impact-at-₹-339-crore-leading-to-a-gross-margin-loss-of-₹-200-crore-in-Q4-March-2020.-Lifestyle-brands-reported-a-5%-drop-in-sales-in-Q4-March-2020-to-₹-1072-crore-from-₹-1132-crore-posted-in-the-same-period-last-year.-The-segment-witnessed-a-decline-in-EBITDA-owing-to-the-drop-in-sales-in-the-month-of-March-due-to-COVID-related-disruptions.-Fast-Fashion-segment-continued-with-its-focus-around-improving-operating-performance

Tata-Investment-Corporation-rose-0.63%.-The-holding-company-reported-consolidated-net-loss-of-₹-36.75-crore-in-Q4-March-2020,-higher-than-net-loss-of-₹-6.02-crore-in-Q4-March-2019.-Total-income-dropped-17.2%-to-₹-21.41-crore-in-Q4-March-2020-over-₹-25.87-crore-in-Q4-March-2019.-Pre-tax-loss-stood-at-₹-36.62-crore-in-Q4-March-2020-as-against-pre-tax-loss-of-₹-4.42-crore-in-Q4-March-2019.-Current-tax-expenses-jumped-55.7%-to-₹-2.71-crore-in-Q4-March-2020-as-against-₹-1.74-crore-in-Q4-March-2019.-The-result-was-announced-after-market-hours-yesterday,-27-May-2020.

Stocks-in-Spotlight:

Vedanta-rose-2.39%.-India-Ratings-and-Research-downgraded-rating-of-the-company-to-IND-AA--from-previous-rating-of-IND-AA-with-a-negative-outlook.

Granules-India-fell-1.27%.-The-pharmaceutical-company-said-that-the-US-drug-regulator-did-not-detect-cancer-causing-N-Nitrosodimethylamine-(NDMA)-in-the-company's-API-and-finished-dosage-tablets.-

Sun-Pharmaceutical-Industries-rose-1.93%.-The-drug-major-and-Sun-Pharma-Advanced-Research-Company-(SPARC)-today-announced-a-worldwide-licensing-agreement-on-the-development-and-commercialization-of-SCD-044-which-is-being-evaluated-as-a-potential-oral-treatment-for-atopic-dermatitis,-psoriasis-and-other-auto-immune-disorders.-SCD-044-is-entering-phase-2-clinical-trials.-Under-terms-of-the-license-agreement,-Sun-Pharma-will-pay-SPARC-an-upfront-payment-of-$20-million.-SPARC-will-also-be-eligible-to-receive-up-to-$125-million-as-milestone-payments-contingent-upon-theachievement-of-clinical,-regulatory-and-sales-milestones,-as-well-as-tiered-royalties-on-sales.-Sun-Pharma-will-be-responsible-for-the-development,-regulatory-filings,-manufacturing-and-commercialization-of-the-product-globally.

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