Why the S&P 500 is overbought

Almost 69.8% (349) of the stocks in the S&P 500 are overbought, more than at any other time since 23rd April, the closing high for the year.

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Tata Communications launches InstaCompute and InstaOffice

Tata Communications said it launched InstaCompute and InstaOffice, both based on cloud computing, to increase its productivity and enhance services to Indian businesses.

InstaCompute and InstaApps will help the company's customers to quickly leverage advanced IT and networking services, without the cost and complexity associated with them, Tata Communications said in a statement.

The launch marks the company's expansion in the cloud space to deliver self-service, pay-as-you-use IT application and data centre infrastructure services, accessed through the Internet.

On Thursday, Tata Communications shares gained 2.7% to Rs331 on the Bombay Stock Exchange, while the benchmark Sensex declined 1.1% to 20,315 points.

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Cadila Healthcare gets FDA approval to sell anti-blood pressure drug

Drug firm Cadila Healthcare Ltd said its subsidiary received an approval from the US Food and Drug Administration (USFDA) to sell high blood pressure treatment tablets, Losartan Potassium and Losartan Potassium and Hydrochlorothiazide, in the that country.

The company will sell Losartan Potassium tablets in the strengths of 25mg, 50mg and 100mg, while it will sell Losartan Potassium and Hydrochlorothiazide tablets in the strengths of 50/12.5mg and 100/25mg, Cadila Healthcare said in a filing to the Bombay Stock Exchange.

The company has already launched both products in the US market. The drugs, which fall in the anti-hypertensive segment, have estimated market sales of $1.3 billion and $944 million, respectively in 2010, said Cadila Healthcare, quoting healthcare information solutions company NDC Health.

On Thursday, Cadila Healthcare shares ended 1.3% down at Rs684 on the Bombay Stock Exchange, while the benchmark Sensex declined 1.1% to 20,315 points.
 

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