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Monday, 7 April 2014
Free Stock Market Intraday Tips on Mobile
Shares in India's Ranbaxy Laboratories Ltd fell as much as 3.2 percent on profit-taking after Sun Pharmaceutical Industries Ltd said it will buy the company in a $3.2 billion all-share deal, creating the world's fifth-largest generic drug maker.
Ranbaxy shares had surged 32.6 percent in six consecutive sessions of gains till Friday's close.
The Indian stock market is rising, the rupee is rising and investment bankers and credit rating agencies are gung ho. If Modi comes, the rocket scientists of financial sector are predicting that the rupee should claw back to 45 to the dollar. Many others are more circumspect and saying the rupee should touch at least 57 to the dollar from current levels of a little over 61.
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