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Market Snippet
Benchmark indices scaled new peaks on Thursday, tracking global markets, with banking stocks contributing the most to gains amid expectations that the government would increase the foreign investment limits for banks. The government is considering raising the foreign investment ceiling in private banks to 100% and in public lenders to 49%. Nifty ended at 10810.80. Banking stocks were the major gainers of the day while Realty stocks were the losers of the day.

Global Markets Update
European planemaker Airbus announced an order with Emirates worth $16 billion for Airbus’ flagship A380 superjumbo, in a deal which looks set to protect the future of the A380 programme.
Asian stocks struck record highs with a rally by Wall Street supporting bullish investor sentiment, while the dollar pulled back from three-year lows as comments by European Central Bank officials tempered the euro’s recent rally.


Stock Snippets

UltraTech Cement has reported a 2.25 percent decline in standalone profit at Rs 421.5 crore for October-December quarter, compared to Rs 431.24 crore in previous quarter. Revenue from operations increased 19.1 percent year-on-year and 15.5 percent quarter-on-quarter to Rs 7,590 crore for quarter ended December 2017.

Suven Life Sciences announced today that the grant of one product patent from China and one product patent from Sri corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases and these Patents are valid through 2033 and 2032 respectively.

YES Bank reported a 22 per cent increase in third quarter net profit at Rs 1,077 crore against Rs 883 crore in the year-ago period. Net interest income was up 27 per cent year-on-year (yoy) at Rs 1,889 crore. Non-interest income jumped 40 per cent at Rs 1,422 crore. Total assets grew by 36 per cent yoy to Rs. 2,65,432 crore. Deposits grew by 30 per cent yoy to Rs. 1,71,731.4 crore.

Biocon has announced its partnership with Sandoz to develop next-generation biosimilars. Under this partnership, both the companies will co-develop and manufacture biosimilars in immunology and oncology therapeutic segments.

Global Markets

Japan’s Nikkei share average ended lower pulling back from a new 26-year high as investors turned cautious, while real estate stocks and financial firms underperformed.

Sri Lanka stocks were lower after the close on Thursday, as losses in the Services, Investment Trust and Telecoms sectors led shares lower.

Taiwan stocks were higher after the close on Thursday, as gains in the Semiconductor, Electronics and Textile sectors led shares higher.

Indonesia stocks were higher after the close on Thursday, as gains in the Consumer Industry, Miscellaneous Industry and Manufacturing sectors led shares higher.

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