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Sun Pharma In The News

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Sensex down 238 pts as blue chips lose further ground

The market remains deep down in the red this afternoon, as investors continue to press sales almost across the board. With global markets not any positive and a host of front line companies slated to announce their quarterly results over the next few days, the mood remains quite cautious on the bourses today.The Sensex is down 237.83 points or 1.16% at 20,259.81 now. The Nifty is down with a loss of 77.35 points or 1.26% at 6100.Information technology stocks continue to trade weak. Automobile, bank, FMCG and capital goods stocks are also mostly down in negative territory. Healthcare, PSU, metal and oil stocks too are trading weak. Select realty and consumer durables stocks are holding on in positive territory. Midcap and smallcap stocks continue to move in a lackluster fashion.

The market breadth is weak with losers outscoring gainers by 4 to 3 on BSE.Axis Bank, Tata Consultancy Services, Sun Pharmaceuticals, Infosys Technologies, Hero Honda, Bharti Airtel, Wipro, State Bank of India, Tata Motors and ACC are down 2% - 4%.Ambuja Cements, DLF, ITC, Jaiprakash Associates, IDFC, BPCL, Mahindra & Mahindra, Sterlite Industries, SAIL, Maruti Suzuki, Tata Steel, Larsen & Toubro, HCL Technologies, Punjab National Bank and Reliance Communications are also down with notable losses.
 
NTPC, Hindustan Unilever, Dr Reddy's Laboratories, Cairn India, HDFC, Sesa Goa, Tata Power and Reliance Capital are up in positive territory with modest gains.Suzlon Energy Limited, the largest wind turbine manufacturer in India, has announced that it has bagged new orders for 168.5 MW (megawatt) turbines. These orders are in addition to the previously announced Techno Group order of 202 MW on September 21st, 2010 and the Altrade Group order of 30 MW on September 3rd, 2010. The stock, despite the news, is trading flat at present.
 
ABG Shipyard Ltd has bagged orders worth US $82.5 million (around Rs. 370 crores) for construction of oil rigs and vessels. The first order, for $65 million, is from Halul Offshore Co, Doha, Qatar, for 91 meter twin screw diving support vessel. The second order valued at $17.5 million from Marnavi Spa, Italy, is for 63.8 meter twin screw 82T Bollard Pull, Anchor Handling Tug Vessel. The stock is down marginally at Rs 310.
 
Moser Baer India Ltd's US division Moser Baer Technologies, Universal Display Corporation, and the College of Nanoscale Science and Engineering's Smart System Technology & Commercialization Centre have announced a partnership to establish the world's first pilot production facility for organic light emitting diode lighting panels at STC's Canadaigua location, which will create more than 50 high-tech jobs by 2012. The stock is down 1.2% at Rs 70.