Galaxy Surfactants Falls Below Issue Price After U.S. FDA Issues Form 483

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Gold Silver Reports (GSR) – Galaxy Surfactants Falls Below Issue Price After U.S. FDA Issues Form 483 — The Mumbai-based specialty chemical maker fell as much as 4.2 percent to Rs 1,429 after it received 13 observations from the U.S. drug regulator for two products — Octyl Methoxy Cinnamate and Octocylene manufactured from its facility at Tarapur in Maharashtra and Jhagadia in Gujarat, the company said in an exchange filing.                                

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RPG Life Sciences Rallies After Large Block Deal

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Gold Silver Reports (GSR) – RPG Life Sciences Rallies After Large Block Deal — Shares of the Mumbai-based drug maker rose as much as 10 percent, the most in over a month, to Rs 436.90 after 71 lakh shares or 42.9 percent equity changed hands in pre-market trade.              

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PSU Banks Rally After RBI Allows Banks To Spread Bond-Trading Losses

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Gold Silver Reports (GSR) – PSU Banks Rally After RBI Allows Banks To Spread Bond-Trading Losses — Shares of the government-owned banks were trading higher after the Reserve Bank of India allowed banks to spread their bond-trading losses incurred in the December 2017 and March 2018 quarters equally over as long as four quarters.

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Paytm Mall Raises Rs 2,900 Crore From SoftBank, Alibaba

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Gold Silver Reports (GSR) – Paytm Mall Raises Rs 2,900 Crore From SoftBank, Alibaba — Paytm Mall has raised close to Rs 2,900 crore from SoftBank Investment Holdings and Alibaba.com Singapore e-commerce in a deal that values the online shopping venture of Paytm at $2 billion.

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U.S. Sell-Off Hits Asia Stocks

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Gold Silver Reports (GSR) – U.S. Sell-Off Hits Asia Stocks — Equities in Japan and South Korea declined, and Australia opened lower after a four-day long weekend. The S&P 500 Index closed below its average price for the past 200 days for the first time since June 2016 with fresh presidential criticism of Amazon.com and retaliatory tariffs from China rattling investors. The Cboe Volatility Index jumped 18 percent.                          

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