Mid-market commentary: September 2, 2016

Indian capital markets remained positive tracking flat markets across the globe. BSE Sensex is up 47.79 points or 0.17 per cent at 28471.27; and the Nifty is also up 8.45 points or 0.10 per cent at 8783.1.About 1374 shares have advanced; 983 shares have declined; and 151 shares are unchanged.

After AGM of Reliance Industries, the Telecommunication sector has been witnessing pressure on Dalal Street. On the sectoral front, Auto, Bankex, Consumer Durables, FMCG and Healthcare are trading in the green. Meanwhile, sectors such as IT, Oil & Gas and Metals are trading in the red.

According to U.S. Energy Information Administration, U.S. crude stockpiles have risen by 2.3 million barrels as per latest weekly data. Oil prices have started dropping down after oversupply data came out. US crude has closed 3.45 per cent lower at USD 43.16, marking a 3-week low.

Stocks to watch:

Shipping Corporation of India: Shipping Corporation of India (SCI) plans to revive joint venture in Iran.

Larsen & Toubro: Larsen & Toubro (L&T) construction has secured orders valued at Rs 1458 crore. The company's subsidiary, Larsen & Toubro Technology’s IPO price band has been fixed between Rs 850 to Rs 860 per equity share.

Cadila Healthcare: Cadila Healthcare's oral solid dosage drug manufacturing plant located at SEZ, Ahmedabad has received an Establishment Inspection Report (EIR) from the USFDA following the inspection carried out in January 2016.

Berger Paints India: Berger Paints India will set up a mixing plant with a maximum capacity of 2400 KL per annum near the existing factory of the company’s subsidiary, Beepee Coatings, at Vallabh Vidhyanagar, Gujarat for convenience of supply to various customers.

Natco Pharma: Natco Pharma’s marketing partner, Mylan has invalidated the third Teva Copaxone 40 mg/mL patent, via U.S. Patent and Trademark Office's Inter Partes Review Proceeding.