Why is Subex Ltd up today?

Subex Americas Inc., an overseas subsidiary of the company incorporated in Canada, has repaid the principal amounts of loans availed by it aggregating USD 12mn (INR 77.2 crore) to QVT Fund LP, Quintessence Fund LP, QVT Fund V LP and QVT Fund IV Ltd., each an affilaite of QVT Singapore Fund Pte. Ltd. amounting to USD 6mn (INR 38.6 crore) and USD 6mn to Manchester Securities Corporation, which is an affiliate of Tonbridge (Mauritius) Ltd and Leeds (Mauritius) Ltd. 

Accordingly, Subex Americas Inc doesn't have any further liabilities towards the aforesaid lenders for payment of any principal or interest in relation to the aforesaid loans.

'No logic only covering' that what Indian markets demonstrate today

MARKET SNAPSHOT

Markets trying to get out of Emkay Saga

Covering up short positions created over during last few days, the Sensex rose sharply during the day despite flat cues from the European markets. While Asian shares still continued their strong rally, the Sensex upmove was quite out of recovery from the shorts created since Emkay Saga in the first week of October.

The Sensex closed higher by 181.16 points, or 0.97%, at 18,791.93, as Tata Group stocks rose sharply along with auto basket and leading banks.

Broadly, real estate and bank stocks along with consumer durables and auto shares rose sharply today. Tata Power led the power stocks while L&T helped capital goods stocks in their rise today.

Healthcare stocks which are under pressure since pharma pricing norms remained under performers today. While most of the major companies are announcing results soon, the investors took a cautious approach in these stocks. Sun Pharma was a largest declining stock in the Sensex.

Real estate index was the outperformer today, as most of the stocks recovered from their sharp fall registered yesterday. All three major real estate players such as DLF, Unitech and HDIL rose sharply from their previous lows while midsize companies, viz., Anant Raj Industries, DB Realty and Godrej Properties continued their run up.

Most of the stocks including Tata Power, SBI, Tata Motors and Hero MotoCorp saw a sharp recovery from their previous dull performance of last 10 days.

Market breadth was very strong indicating a rally had the conviction. 80% of 30 Sensex stocks rose today with telecom and oil & gas sectors underperforming.

'No logic only covering' that what Indian markets demonstrate today

MARKET SNAPSHOT

Markets trying to get out of Emkay Saga

Covering up short positions created over during last few days, the Sensex rose sharply during the day despite flat cues from the European markets. While Asian shares still continued their strong rally, the Sensex upmove was quite out of recovery from the shorts created since Emkay Saga in the first week of October.

The Sensex closed higher by ***points, or %, at , as Tata Group stocks rose sharply along with auto basket and leading banks.

Broadly, real estate and bank stocks along with consumer durables and auto shares rose sharply today. Tata Power led the power stocks while L&T helped capital goods stocks in their rise today.

Healthcare stocks which are under pressure since pharma pricing norms remained under performers today. While most of the major companies are announcing results soon, the investors took a cautious approach in these stocks. Sun Pharma was a largest declining stock in the Sensex.

Real estate index was the outperformer today, as most of the stocks recovered from their sharp fall registered yesterday. All three major real estate players such as DLF, Unitech and HDIL rose sharply from their previous lows while midsize companies, viz., Anant Raj Industries, DB Realty and Godrej Properties continued their run up.

Most of the stocks including Tata Power, SBI, Tata Motors and Hero MotoCorp saw a sharp recovery from their previous dull performance of last 10 days.

Market breadth was very strong indicating a rally had the conviction. 80% of 30 Sensex stocks rose today with telecom and oil & gas sectors underperforming.