Intraday Stock Cash Tips: Ipca cracks 14%

Ipca Laboratories shares hit fresh 52-week low of Rs 480 on Friday, falling 14 percent intraday after Geneva-based fund decided not to source any anti-malaria drug from the company.

At 09:29 hours IST, the scrip of Ipca Laboratories was quoting at Rs 502.20, down Rs 56.35, or 10.09 percent amid high volumes on the BSE.

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Stock Cash Premium Tips: JSPL surges 5%

Jindal Steel and Power Ltd stock was higher by 5% at Rs.63. The company is planning to pay back Rs 250 crore to mutual funds on expiry of bonds, as per reports.

The scrip opened at Rs. 60 and has touched a high and low of Rs. 62.75 and Rs. 60 respectively.

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The stock is currently trading above its 200 DMA.

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The market started off last day of the week on a negative note, tracking weak Asian cues. The Sensex fell 45.88 points to 24639.54 and the Nifty declined 12.25 points to 7534.20.
 

Technology stocks were under pressure while FMCG and private banks gained strength.

Infosys, BHEL, Hero Motocorp, Tata Steel, Maruti Suzuki and Ambuja Cements were early losers, down 1 percent each while Dr Reddy's Labs, Tata Motors, Lupin, Coal India, NTPC, Tata Power and BPCL were gainers.

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Asian markets have worries of their won and US indices ended in the red. The currency movement, developments on the oil front and FII flows will continue to be routinely checked ahead of the weekend.

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Rupee down 28 paise at 66.65 against US Dollar

The Indian rupee on Wednesday hit a three-week low against the US dollar and closed lower by 28 paise. The rupee slipped on fresh demand for the dollar from banks and importers. And weak Asian currencies also weighed on the rupee.

On the domestic front, RBI at the monetary policy review decided to cut the repo rate by 25bps to 6.5%, while reducing the minimum daily maintenance of CRR from 95% to 90%. The central bank has gradually lowered the average liquidity deficit in the system from 1% of NDTL to a position closer to neutrality.