Stock Market Closing News - Inflation based on the Consumer Price Index
(CPI) is likely to remain in the 5.6-5.8 percent range over the next two
months, Deutsche Bank said in a research note, predicting that RBI would cut
the policy rate "one more time". According to the global financial
services firm, inflation and growth worries for the Indian economy still
persist and implementation of the Seventh Pay Commission recommendations is
likely to exert pressure on fiscal finances of the government - both the Centre
and states. "We expect CPI inflation to remain in the 5.6-5.8 percent
range over the course of the next two months, in line with RBI's near-term
target, but higher than what we had anticipated earlier," Deutsche Bank
said in a research note. 12:45 pm Pharma: Glenmark Pharmaceuticals announced
receipt of tentative approval from USFDA for its generic version of azelaic
acid topical gel used for treating skin inflammation. Glenmark will market this
product upon receiving final approval, it said, adding that the patent for
Finacea topical gel, 15 percent, is scheduled to expire on November 18, 2018.
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