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Take a long-term view on contra moves
In the first three-and-a-half weeks of trading in the new year, the Bombay Stock Exchange’s Sensitive Index, or the Sensex, has been range bound – a phase that many market experts would call a consolidation phase. And there are expectations that after the Union Budget, the market could enter a correction phase as well.

Sensex back above 17k
The Sensex has recaptured 17k mark on the back of strength in IT, energy and power stocks. The benchmark is now quoting at 17,002, up 310 points, and the Nifty is well above the 5k mark at 5,079, up 93 points.

News of the day

DLF exits venture with Prudential Financial
DLF Ltd has exited its asset management joint venture with US based Prudential Financial Inc (PFI), the real-estate firm said in a filing with the Bombay Stick Exchange on January 23.
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APIIC to set up biotech SEZs in Anantapur, Kadapa and Hyd

Andhra Pradesh Industrial Infrastructure Corporation (APIIC) would develop a biotech special economic zone (SEZ) at the Industrial Growth Centre in Hindupar in Anantapur district of the state. The SEZ would come up in 70 acre and would be developed by Benguluru-based Salarpuria. - Mfg likely to get boost during Reddy's 2nd term - Tata to set up Rs 1,000 crore helicopter unit in Hyderabad SEZ - Govt to put Rs 300cr more in Achuthapuram SEZ - Anrak allotted land for Vizag project - Anrak Aluminium allotted land for Vizag project The proposal was approved about a fortnight ago at the Board of Approvals meeting of the Government of India. The project, close to the new international airport at Benguluru, would be based on the similar lines as the Genome Valley, a biotech cluster on the outskirts of Hyderabad. This apart, APIIC is now proposing to set up two more SEZs – one in Kadapa and the other in Genome Valley in Hyderabad. According to APIIC managing director BP Acharya, the SEZ coming up in Kadapa will focus on livestock and animal biotechnology. It will be set up near the Indira Gandhi Centre for Advanced Research on Livestock (IGCARL), which is coming up there. This will be suitable for export oriented animal biotech projects and research and development for zoonotic diseases like swine and avian flu. Two US-based companies are already setting up their units in this SEZ, he said. The Genome Valley SEZ, which would be spread over 50 acre, would focus on biopharmaceutical manufacturing. Global players have already been allotted land in this SEZ, he said adding that APIIC was inviting investors from Benguluru to set up units in the SEZs for plug- and-play facilities. Also, APIIC was proposing to set up another biotech and life sciences park in 100 acre at the Lepakshi Knowledge Hub being developed in Chilamathur in Anantapur district, according to a release.


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