Stock Market News 3.10.2018

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Market Live: Sensex slips 200 pts again after Rupee breaches 73/$; Yes Bank zooms 8%

HDFC Bank, ICICI Bank, TCS, Maruti Suzuki, Bharti Infratel, Eicher Motors, IOC, Axis Bank and L&T were under pressure in early trade.


Ipca Labs Subsidiary Acquires 80% Stake in Bayshore Pharmaceuticals
Pharmaceutical firm Ipca Laboratories announced the acquisition of 80 percent stake in US’ Bayshore Pharmaceuticals LLC by its subsidiary for USD 10.286 million (approximately Rs 75.40 crore).

The acquisition of the majority stake in Bayshore by Ipca Labs’ wholly-owned subsidiary will enable the company to commercialise its registered generics drug products in the US market through this entity, Ipca Laboratories said in a regulatory filing

Tata Motors Slips After JLR September Sales
Share price of Tata Motors slipped more than 1 percent intraday as company posted declines in its JLR sales numbers for the month of September.
In the month of September 2018 Tata Motors’ total JLR US sales were down 7.2 percent at 9,006 units against 9,703 units in the same month last year.
Its total Jaguar US sales fell 38.1 percent at 2,040 units versus 3,296 units, while Land Rover US sales were up 8.7 percent at 6,966 units versus 6,407 units, reported CNBC-TV18.
The company’s domestic sales in September 2018, grew by 20 percent at 64,598 units compared to 53,964 units over the previous year.

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