Among sectors, there is strength visible in the pharmaceutical names along with banking & financials, IT and automobile names.

Nov 16, 10:46 AM (IST)
USFDA Observations for Dishman’s Ahmedabad Plant

CNBC-TV18 said Dishman Pharmaceuticals’ Ahmedabad API unit had received Form 483 with 2 observations which are:

US FDA said 1) Blending of in-specification with OOS (out-of-specification) immediate batches is performed; and 2) Laboratory investigations for OOS intermediate batches are not conducted.

The US Food and Drug Administration had inspected company’s Ahmedabad API unit during October 22-26.

Nov 16, 10:43 AM (IST)
Market Update

Benchmark indices rallied further with the Sensex rising 280.19 points to 35,540.73 and the Nifty inching towards 10,700, up 77.30 points at 10,694.

The broader markets underperformed frontliners with the Nifty Midcap index rising 0.2 percent amid positive breadth.

About 1,123 shares advanced against 894 declining shares on the BSE.

Nov 16, 10:37 AM (IST)
USFDA Observations for Alembic Pharma’s Panelav Plant

CNBC-TV18 said Alembic Pharma’s Panelav plant had received Form 483 with four observations which are:

USFDA said 1) there is a failure to review discrepancy on whether or not batch is distributed; 2) there is no written procedures for production & process controls to assure drug quality; 3) batch production & control records do not include in-process results; and 4) employees are not given training in particular options they perform.

The US Food and Drug Administration had inspected Panelav plant during October 22-26. The company manufactures finished dosages in this plant.

Nov 16, 10:29 AM (IST)
V2 Retail Increases Retail Stores Count

V2 Retail has launched one operational retail store at near Mahendra Finance, Shahjahanpur, Shejadpur.

Therefore currently 73 retail stores are operational, the company said.

Nov 16, 10:10 AM (IST)
Oil Rises On Expected OPEC Cuts

Oil prices rose amid expectations of supply cuts from OPEC, although record US production dragged.

US West Texas Intermediate (WTI) crude oil futures were at $56.76 per barrel, up 0.53 percent, from their last settlement.

Brent crude oil futures were up 0.63 percent, at $67.04 per barrel.

Prices were mainly supported by expectations the Organization of the Petroleum Exporting Countries (OPEC) would start withholding supply soon, fearing a renewed rout such as in 2014 when prices crashed under the weight of oversupply. Source: Reuters.

SOURCE: moneycontrol.com