23:36
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The market remained firm with the Nifty bouncing back after 4 days of consecutive losses. The broader markets gained marginally more than the frontline indices with a firm advance:decline ratio.
The Sensex rose 109.22 points to 28301.24 and the Nifty advanced 31.20 points to 8582.10.
From the frontliners, Jindal Steel gained 2 percent on news of the Delhi High Court staying the transfer of Tara coal block and asking the government to file reasons for transferring the Gare-Palma IV 2 & 3 blocks by March 26.
Sun Pharma rallied 2 percent along with Ranbaxy Labs. The CCI approved Sun-Ranbaxy’s plan to divest all 7 brands to Emcure Pharma. Strides Arcolab and Shasun Pharma too gained 3-5 percent as the CCI gave its approval to the proposed merger between the two entities. However, Aarti Drugs plunged 9 percent as the USFDA issued an import alert on the company’s Palghar unit.
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Posted in: Indian Market Tips
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