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The market rose for second straight session on Monday, as investors cheered Prime Minister Narendra Modi’s landslide victory in the general election results last week. A strong mandate for the NDA could mean that economic reforms would be decisively implemented. Gains in HDFC twins and Larsen & Toubro (L&T) boosted main stock indices. Metals and banks shares were in demand. The Nifty 50 index rose 80.65 points or 0.68% to 11,924.75, as per the provisional closing data.

Global Markets

Fiat Chrysler made “transformative” merger proposal to Renault; the Italian-American carmaker which would create a carmaker selling 8.7 million vehicles. European shares rose as a possible Fiat Chrysler-Renault merger thrust auto stocks higher, while investors assessed the results of the EU parliament elections where pro-European parties are expected to hold on to two-thirds of seats.European STOXX 600 was up 0.5%.

Granules Pharma informed that  the USFDA has given nod for Methylphenidate Hydrochloride Extended-Release capsules for 10 mg, 20 mg, 30 mg, 40 mg and 60 mg, bioequivalent to the reference listed drug product (RLD), Ritalin LA Extended-Release Capsules, 10 mg, 20 mg, 30 mg, 40 mg, and 60 mg, of Novartis Pharmaceuticals Corporation (Novartis).

Glenmark Pharmaceuticals receives ANDA approval for Aspirin and extended-release Dipyridamole capsules, 25 mg/200 mg.

Lupin has received a communication from the USFDA classifying the inspection conducted at its Goa facility between January 28 to February 8, 2019, as Official Action Indicated (OAI).

Share price of Capacite Infraprojects gained 3.5% as company won a contract worth Rs 170.40 crore.

Manpasand Beverages hit a lower circuit limit of 20% at Rs 88. The Commissioner of Central GST and Customs carried out search and seizure proceedings at various premises of the company.

Global Markets

Japan stocks were higher after the close on Monday, as gains in the Shipbuilding, Finance & Investment and Communication sectors led shares higher. The Nikkei 225 added 0.31%.

Chinese shares rose, helped by investor hopes of policy support from Beijing, with the benchmark Shanghai Composite climbing 1.4% and the blue-chip CSI 300 adding 1.3%. Hong Kong’s Hang Seng dropped 0.1%

Australia stocks were lower after the close on Monday, as losses in the Telecoms Services, Utilities and Consumer Staples sectors led shares lower. The S&P/ASX 200 lost 0.06%

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