Amidst mixed global cues, Indian markets are expected begin the week on a flat note. However, according to analysts, markets will see heightened volatility due to the expiry of May month derivative contracts on the NSE this week.

The SGX Nifty futures at 15,174 (8 am IST) indicates a negative opening, as Nifty May and June futures on Friday closed at 15,206 and 15,232 respectively. The US stocks also ended on Friday closed with mixed colours with Dow Jones Industrial Average gaining marginally while the tech-focussed Nasdaq and broad-based S&P 500 closing weak.

In the morning deal on Monday, markets such as Australia and Japan are ruling in the green while Korea, Taiwan and Hong Kong in the red.

“So, global economic revival, the risk of pickup in inflation and development on the Covid-19 front domestically would decide the market direction going ahead,” said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services. Investors should watch out for more clues on the economic recovery front from the US PMI data and existing home sales data that would be released later today (Friday).

The board of Orchid Pharma Ltd has announced that the company had developed a new molecule known as OCID-5090, which was licensed to a company named Allecra Therapeutics, this molecule was undergoing the clinical trials and the company is happy to announce that the molecule has cleared the Phase 3 clinical trials. Allecra Therapeutics would now either directly or through out license file for NDA of this molecule. Allecra has already out licensed the product to Haini Pharmaceuticals, China for the Chinese Territory at a value of $78 million plus royalties.

The Board of Minda Industries has approved to make the first tranche investment in equity shares of CSE Dakshina Solar Private Limited, the Special Purpose Vehicle Company. The board approved the acquisition of 33,750 equity shares of CSE Dakshina Solar Private Limited at ₹80 a share, aggregating to ₹27 lakh. The company holds 27.55 per cent of total paid-up share capital of the SPV. The aforesaid acquisition of the shares is for availing solar power for its plant at Chennai in Tamil Nadu.

Antony Waste Handling Cell Ltd has announced that consortium of its subsidiaries- Antony Lara Enviro Solutions Private Limited and AG Enviro Infra Projects Private Limited - has received a Letter of Authorisation (LOA) for the work of "Remediation of Temporary Dumpsite near Lakhnavali Village at Greater Noida through effective bio-mining and mechanized means with complete reclamation of the dumpsite land" from the Greater Noida Industrial Development Authority with a total project value of approximately ₹23.75 crore.

Bharat Parenterals Ltd has received the license and authorisation from Drugs Controller General of India (DCGI) and Central Drugs Standard Control Organisation (CDSCO), New Delhi, for the manufacturing and marketing of "Favipiravir Oral Suspension l00mg/ml" which will be used for treatment of Covid-19 disease. Further, the product patent has been already filed under fast track approval and the company is the first one in the Indian market receiving the license and authorisation to manufacture and market the drug.

SagarSoft (India) The Board of Sagarsoft (India) Limited has approved a proposal to acquire 100 per cent stake in IT CATS, LLC, US, at a value of ₹16.06 crore through swap of shares for consideration other than cash by issue of equity shares of the company by way of preferential allotment at a price not below ₹254 a share or at a price as calculated under SEBI (ICDR) Regulations, 2018 ("Proposed Transaction"), subject to shareholders and other applicable regulatory approvals.

Natco Pharma has announced that its marketing partner, Breckenridge Pharmaceutical Inc. (BPI), has received final approval for its Abbreviated New Drug Application (ANDA) for Everolimus Tablets (generic for ZORTRESS®),from the U.S. Food and Drug Administration (USFDA). Natco's partner BPI plans to launch 0.25 mg, 0.5 mg and 0.75 mg strengths of the product shortly.

Results Calendar

3P Land Holdings, ADC India Communications, ADF Foods, Balaji Amines, Barbeque-Nation Hospitality, Choksi Imaging, Dalmia Bharat Sugar and Industries, FGP, Grasim Industries, Hindustan Fluorocarbons, IG Petrochemicals, India Cements, India Cements Capital, Jonjua Overseas, JK Paper, JSW Holdings, Kanpur Plastipack, Karda Constructions, Lakshmi Machine Works, Loyal Textile Mills, , Mahanagar Gas, Nutricircle, Pharmaids Pharmaceuticals, Poly Medicure, Ramco Cements, Ramco Industries, Shanthi Gears, Shree Pushkar Chemicals & Fertilisers, Sparc Systems, Summit Securities, Tiaan Consumer, Tirupati Tyres, UTL Industries, and Wall Street Finance announce their quarterly results on Monday (May 24).

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