GIFT Nifty Signals Muted Start; Ashoka Buildcon Receives a Project Worth Rs 478 crore from MMRDA

BANGALORE, India - Aug. 26, 2024 - PRLog -- Nifty had a good week, closing higher on all five trading sessions of the last week. However, the magnitude of gains was minimal (0.1-0.5%). Trading volume also remained below average throughout the week. Friday, the index started on a muted note and stayed in a narrow range of less than 90 points. It is nearly 1% below its all-time high (25,078). The broader market indices, Nifty Midcap (+1.56%) and Smallcap (+3.48%) outperformed the market. Barring Nifty Realty () all the sectoral indices closed higher. Nifty PSU Bank (+8.24%) emerged as the top gainer followed by Nifty Metal (+3.3%) and Pharma (+1.91%).

Key News:

Alembic (Nse) received approval from the U.S. FDA for its Abbreviated New Drug Application for Betamethasone Valerate foam, 0.12%. It is used to treat scalp skin conditions.

Ashoka Buildcon emerged as the lowest bidder for a project worth Rs 478 crore from the Mumbai Metropolitan Region Development Authority (MMRDA). The project involves the design and construction of an elevated road from Kalyan-Murbad Road to Badlapur Road to Pune Link Road, parallel to the Waldhuni River, crossing over the Karjat-Kasara railway line, including a slip road.

Dr. Reddy's Laboratories issued form 483 with three observations for the company's formulations manufacturing facility in Srikakulam, Andhra Pradesh. The inspection of the facility was conducted from August 19-23, 2024.

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