Live: Sensex, Nifty Flat; Dixon Tech Up 4% On Jefferies Note

The currency has opened weaker for the second straight day in today's session after snapping a three-day gaining streak on Monday.

The rupee opened at 73.39 against the U.S. Dollar as compared to Monday's close of 73.27.

Within the bond markets today, 13 Indian states plan to sell bonds worth Rs 17,750 crore.

ICICI Securities Primary Dealership told Bloomberg that the RBI has acknowledged with a higher OMO size that it cannot hope to control the yield curve by doing only limited interventions.

The company informed the exchanges that it has received approvals for two ophthalmic products and two oral liquid suspension products.

The exchange filing also said that it is expecting five more approvals in Ophthalmic and Oral Solids business in the fourth quarter of Calender Year 2020.

Shares gained as much as 4.8% to Rs 17.6, post the announcement. The stock has snapped a three-day losing streak.

Shares of the company are gaining in today's session after Jefferies initiated coverage on the stock with a buy rating and a price target of Rs 12,600.

Jefferies' Rationale:

• Notable industry opportunity with EMS market likely to grow at 47%+ CAGR over the next five years
• Leadership position and expansive product mix
• Upside from PLI scheme in mobiles and pristine balance sheet
• Higher return ratios and buoyant growth prospects
• Estimate sales / PAT CAGR of 33% and 41% over FY20-23E
• Key Risks: Extended demand slowdown, market share loss for key customers, rising competition and pricing pressures.

Shares gained as much as 4% to Rs 8,788. The stock has gained only twice in the last seven trading sessions.

• Lowest new Covid-19 cases reported in the last 56 days
• 55,342 new cases reported in the last 24 hours
• Total confirmed cases at 71,75,880
• Active cases now at 8,38,729
• Patients cured / discharged / migrated at 62,27,295
• Death toll rises to 1,09,856
• 706 deaths reported in the last 24 hours
• 77,760 patients recovered in the last 24 hours

The healthcare company reported a year-on-year decline of 8% in its consolidated revenue for the July-September quarter to Rs 115.6 crore.

Net profit nearly doubled to Rs 24.5 crore but that was due to a tax reversal.

Ebitda rose 5% while Ebitda margin stood at 25.5% from 22.3% as compared to the same period last year.

Operating performance was steady owing to lower operating costs and higher bed occupancy due to Covid-19 patients.

Shares of the company rose as much as 6.4% to Rs 106.2, post the announcement. The stock is trading at the highest level in over eight months. It is also up for the fifth straight day, the longest winning streak since November 2019.