Benchmark indices wiped out early gains following correction in Asian stocks. The 30-share BSE Sensex was down 35.64 points at 35,124.72 and the 50-share NSE Nifty fell 17 points to 10,722.40, dragged by technology and banking & financials stocks.

Cipla has received final approval for its abbreviated new drug application (ANDA) for Phenylephrine Hydrochloride injection from the United States Food and Drug Administration (USFDA).

Phenylephrine Hydrochloride Injection USP, 50 mg/5 mL (10 mg/mL) and 100 mg/10 mL (10 mg/mL) Pharmacy Bulk Package, is an AP-rated generic equivalent of Avadel’s Vazculep.

The drug is indicated for the treatment of clinically important hypotension resulting primarily from vasodilation in the setting of anesthesia.

10:02 am Results Date: Jindal Steel & Power informed exchanges that the meeting of the board of directors of the company is scheduled to be held on May 9, 2018 to consider and approve, the audited financial results of the company, for the quarter/ year ended on March 31, 2018, both on standalone and consolidated basis.

9:56 am Fortis Clarification: While clarifying on a media report saying Malvinder Mohan Singh and Shivinder Mohan Singh hold majority stake in RHT Health Trust, the company said it categorically denied the statement and confirmed that as on date Malvinder and Shivinder do not hold any share.

9:45 am Order Win: NBCC share price gained 1 percent after it has received letter of appointment from Ministry of External Affairs, Govt. of India for the construction of Mahatma Gandhi Convention Centres (MGCC) in nine (9) African Countries namely Niger, Uganda, Malawi, Zambia, Liberia, Gambia, Burkina Faso, Togo and Gabon amounting Rs 2,000 crore.

9:41 am Market Update: The market is trading mildly higher amid consolidation and weakness in Asian stocks. Auto, infra, select banks stocks and Reliance Industries supported the market while technology stocks were under pressure after HCL Tech earnings.

The 30-share BSE Sensex was up 48.72 points at 35,209.08 and the 50-share NSE Nifty rose 6.60 points to 10,746.

9:32 am Rim Sales: Steel Strips Wheels achieved total rim sales of 12.82 lakh in April 2018 against 11.50 lakh units in April 2017, representing a growth of 12 percent.

The growth in April was all round segments, the company said which expects this to continue going ahead with firm schedule indication 1O-11 percent volume growth.

The tractor and truck segments volume sales running at record high levels, it said which expects to maintain that going ahead.

In terms of value, the company has achieved gross turnover of Rs 211.79 crore in April 2018 against Rs 115.73 crore in April 2017, thereby recording a growth of 83 percent.

9:22 am Results Date: Akzo Nobel India informed exchange that a meeting of the board of directors of the company is scheduled to be held on May 10, 2018 to consider the audited financial results for the year ended March 31, 2018 and recommend Dividend for the said financial year, if any.

Source: moneycontrol.com