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Gold price drifted lower by Rs 125 to Rs 29,275 per 10 grams today, 6 April 2017, on weak global cues despite fall in demand from local jewellers. On the other side, Silver followed suit and softened by Rs. 100 to Rs. 42,500 per kg due to reduced off-take by industrial units and coin makers.
In New Delhi, gold of 99.9 purity traded lower by Rs 125 to Rs 29,275 and 99.5% purity traded lower to Rs 29,125 per 10 grams. Gold had gained Rs 340 in the past three sessions. Globally, the price of Gold fell by 0.13% to USD 1,253.80 an ounce, and silver fell by 0.25% to USD 18.22 an ounce in Singapore.
Price of Sovereign remained unaltered at Rs 24,400 per piece of eight grams. Following the precious metal, silver ready declined by Rs 100 to Rs 42,500 per k.g . The weekly-based delivery is noted by Rs 185 to Rs 42,240 per kg. Silver coins held steady at Rs 71,000 for buying and Rs 72,000 for selling of 100 pcs.
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Pharma major Cipla Ltd rose 0.38% to Rs 594 at mid-noon on BSE after the company stated that it has obtained final approval for generic Epzicom tablets. The announcement was made on 4 April 2017, when the markets were shut on account of local holiday.
On the BSE, 1.08 lakh shares have been traded in the counter in the volatile trade, compared with the ADV (average daily volume) of 1.16 lakh shares in the past one quarter. The stock had hit a high and low of Rs 600.55 and Rs 593.25 respectively during the day.
Cipla stock had underperformed the market over the past one month till 3 April 2017, gaining 0.71 % compared with 3.74% rise of Sensex. The scrip further underperformed the market in past one quarter, growing 3.07% as against 12.26% gain of Sensex.
The consolidated net profit of Cipla Ltd rose 43.85% to Rs. 374.83 Cr, on 15.64% rise in net sales to Rs, 3,550.02 crore in quarter third December 2016 Year-on-year.
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