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Latest shareholding pattern shows that FIIs pared their stake in Infosys by 120 bps to 35.09% in March quarter and in the case of bellwether Tata Consultancy Services (TCS) their holding went down by 22 bps to 12.72%.

Under the fresh terms of their strategic alliance, Serum Life Sciences will make an additional equity investment of $150 million through the conversion of the $150 million loan provided to Biocon Pharma, a wholly-owned subsidiary of Biocon, into equity in BBL.

"The economy is moving from just being consumption to consumption plus investment. This is something we have been waiting for the last 10 years. That investment cycle revival is happening after 10 years. Whether you look at the corporate investment cycle or household investment cycle, which is real estate, both are reviving after a period of 10-12 years and we think there is some distance to go."

Ipca Laboratories has agreed to buy 33.38% of the paid-up equity share capital of Unichem Laboratories for INR1,034.06 crore ($160m). The acquisition is subject to the approval of the Competition Commission of India. Ipca Laboratories’ board of directors also approved making an open offer to the public shareholders of Unichem Laboratories to acquire up to 26% of the fully diluted outstanding equity share capital of the company at INR440 per share amounting to INR805.44 crore.

The Relative Strength Index of the stock stood at 59.43 on Tuesday.

No, there was no understanding to have operational involvement, but we had offered a board seat and that will remain and it is for Serum to exercise that offer.

Despite the underperformance, this sector has been under the spotlight led by robust sales in residential real estate. The outlook remains strong and certain stocks are likely to ride this uptrend.

Nestle India Chairman and Managing Director Suresh Narayanan said it is the highest growth for the company in a quarter in the last 10 years after excluding the exceptional quarter in 2016 which was off a low base in 2015. The Maggi maker said the company is witnessing early signs of softening of commodities such as edible oils, wheat and packaging materials.

IndiGo among 6 stocks that signal bearishness on April 25

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