Capitalstars Updates: Top Corporate News:- 31 Jan 2018

Top Headlines Of The Day:- 31 Jan 2018

Amber Enterprises up 4% as Kotak fund buys share in company

Workers at Bajaj Auto plants go on indefinite hunger strike, stock opens weak

BEL approves buy-back of 2.04cr equity shares at Rs182.50 per share

NTPC establishes $6bn MTN Programme on India’s International Exchange

SBI hikes bulk deposit rates by 50-140 basis points

Amber Enterprises up 4% as Kotak fund buys share in company
Shares of Amber Enterprises India rose nearly 4% today after Kotak Fund-India Midcap bought 253,290 shares of the company at Rs1, 149.15 in a bulk deal on the NSE.
Shares of Amber Enterprises got listed on Tuesday at a premium of 37% to their issue price of Rs859.
Amber Enterprises India Ltd is currently trading at Rs 1285, up by Rs 47.75 or 3.86% from its previous closing of Rs 1237.25 on the BSE.
The scrip opened at Rs1, 232.5 and has touched a high and low of Rs1, 298.3 and Rs1, 230, respectively. The current market cap of the company is Rs3, 890.72cr.

Workers at Bajaj Auto plants go on indefinite hunger strike, stock opens weak
Workers at Bajaj Auto Limited’s (BJAUT) plants in Akurdi and Chakan have gone on an indefinite hunger strike from January 29, 2018. The workers’ Union involved in this strike is Vishwa Kalyan Kamgar Sanghatana. BJAUT reported this to stock exchanges on January 30, 2018.
The three reason for workers going on hunger strike are i) pending issue of eight workmen dismissed from services for various acts of misconduct in 2013-14, ii) dismissal of six workmen who did not report to place of transfer/deputation despite court orders and iii) delay in conclusion of wage review process due with effect from April 1, 2016. The matter is pending before the Industrial Court, Pune and High Court of Bombay.

BEL approves buy-back of 2.04cr equity shares at Rs182.50 per share
The board of directors of Bharat Electronics Ltd (BEL), in their meeting held on January 30, 2018, approved the proposal to buy-back the equity shares of the company. The buy-back would be of ~2.04cr equity shares (representing 0.83% of total equity shares) at a price of Rs182.50 per share (~7% premium to the last closing price) payable in cash.
The buy-back size amounts to Rs372.26cr, representing 5% of the aggregate of the fully paid-up equity share capital and free reserves of the company. 
The promoter of the company also intends to participate in the proposed buyback. The buyback is subject to approval from the shareholders and all other applicable statutes. The board has fixed February 9, 2018, as the record date for the buy-back.

NTPC establishes $6bn MTN Programme on India’s International Exchange
India’s largest power producer NTPC has listed its $6bn (about Rs40, 000cr) MTN programme (debt instrument) on India International Exchange at IFSC, GIFT City (India INX). While doing so, NTPC became India’s first quasi-sovereign company to list at India INX.
The Listing was done on January 24, 2018, on the Global Securities Market of India INX; India’s first international exchange.
The listing will help NTPC raise funds at lower costs from international investors and also allow foreign investors to access good quality Indian debt paper.

SBI hikes bulk deposit rates by 50-140 basis points
SBI announced that the leading banker is going to increase bulk deposit rates by 50-140 bps effective today. Following this announcement, shares of SBI reached a high of Rs318.8 in the morning trade, gaining ~2%. However, the stock was unable to hold on to the gains as the day progressed.
The stock ended at Rs312.85, up by Rs1.75 or 0.56% from its previous closing of Rs311.1 on the BSE. The scrip opened at Rs311.05 and has touched a high and low of Rs318.75 and Rs310.8 respectively.
The bank’s FY17 consolidated loan book stood at Rs.19.5 lakh cr. Its consolidated GNPA & NNPA stood at 9.1% & 5.2% as of FY17.

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Capitalstars Updates: Top Corporate News :- 30 Jan 2018

Top Headlines Of The Day:- 30 Jan 2018

Jubilant receives ANDA approval for Clonidine Hydrochloride ER Tablets

KPIT and Birlasoft to come together to create two entities

Mylan and Biocon receive positive CHMP opinion for Insulin Glargine

Amber Enterprises lists at 38% premium to issue price

HCL Tech gets 5-year order from Cadent for IT Infra services

Jubilant receives ANDA approval for Clonidine Hydrochloride ER Tablets
Jubilant Life Sciences has announced that its material wholly owned subsidiary Jubilant Pharma Limited has received Abbreviated New Drug Application (ANDA) final approval for Clonidine Hydrochloride Extended-Release Tablets, 0.1 mg. This is a generic version of Kapvay of Concordia. It is used for the treatment of attention deficit hyperactivity disorder (ADHD).
As on December 31, 2017, Jubilant had a total of 86 ANDAs for Oral Solids filed in the US of which 56 had been approved and 12 Injectable filings of which 10 had been approved. This is the eighth USFDA approval in FY18.

Clonidine Hydrochloride Extended-Release Tablets, 0.1 mg had annual sales of ~USD 66 million in the US as per IMS MAT Jun 2017. 

KPIT and Birlasoft to come together to create two entities
KPIT Technologies had informed the exchanges that its board had approved a draft composite scheme for amalgamation of Birlasoft (India) with KPIT. The second leg of the transaction would involve demerger of the engineering business of the company into KPIT Engineering Limited (KEL), a wholly owned subsidiary of the company and will be renamed as KPIT Technologies Limited.
According to the arrangement, shareholders of Birlasoft will receive 22 equity shares of the combined KPIT -Birlasoft for every nine equity shares of Birlasoft. the combined KPIT-Birlasoft will be engaged in the ITSS Business, and pursuant to the Proposed Demerger, KEL's shares will be listed and shareholders of combined KPIT-Birlasoft will receive one share of KEL for each share they hold in the combined KPIT-Birlasoft.

Mylan and Biocon receive positive CHMP opinion for Insulin Glargine
Biocon has announced that it, along with its partner Mylan, has received a positive opinion from Europen Medical Agency’s (EMA) - Committee for Medicinal Products for Human Use (CHMP) - for insulin Glargine. CHMP has also recommended approval to Insulin Glargine, which will be sold under brand Semglee.
There are ~60m people affected by diabetes in Europe with an increasing prevalence in the region. Insulin Glargine is a biosimilar, which will be available for commercialization once it receives EMA approval.
Biocon and Mylan are also awaiting approval for Insulin Glargine in Australia, Canada, and the US and are planned for key Emerging Markets.

Amber Enterprises lists at 38% premium to issue price
Amber Enterprises listed at a significant premium of 38% to its issue price of Rs855-859 and is currently trading at Rs1, 187.2.
The IPO offer consisted of Fresh Issue of 55.3 lakh shares (aggregating up to ~Rs475cr) at the upper end of the price band. It also includes an offer for sale of up to 14.6 lakh shares (Rs125cr) by the promoters. The issue proceeds will be used for pre-payment or repayment of borrowings (~Rs400cr) and for other general corporate purposes (~Rs75cr).

HCL Tech gets 5-year order from Cadent for IT Infra services
HCL Technologies (HCL) announced a five-year IT infrastructure services and application management contract with Cadent, the UK’s largest gas distribution network. The ground-breaking ‘cloud first’ multi-service deal will see HCL provide integrated public cloud hosting and SAP and Application Maintenance Services, including the migration of a significant applications portfolio to Amazon Web Services (AWS) public cloud. In addition, HCL will provide IT Service Management, Service Desk and Managed Workplace Services.
HCL will deliver these services to support Cadent’s business operations which distributes gas to 11 million homes and businesses in the North West, Midlands, East and South East of England. HCL will provide MWS support to approximately 4,500 staff; including 3,500 field based-engineers who work across the company’s 65 regional depots.

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Capitalstars Updates: Top Corporate News :- 29 Jan 2018

Top Headlines Of The Day :- 29 Jan 2018

Avenue Supermarts Ltd (DMart), up 5% after announcing Q3FY18 results, PAT up 65.8% yoy
Cipla, Aurobindo and Strides Shasun receive final approval for gViread
Havells to set up a manufacturing unit in Rajasthan for an investment of Rs360cr
DLF is looking to launch QIP of shares by April, 2018
Idea Cellular seeks government approval for raising FDI limit to 100%

Avenue Supermarts Ltd (DMart), up 5% after announcing Q3FY18 results, PAT up 65.8% yoy
DMart rallies 5% after announcing Q3FY18 results. In Q3FY18, its revenue grew by 22.6% yoy to Rs4, 095cr. EBITDA came in at Rs422cr, up 46.3% yoy . EBITDA margin expanded by 167bps yoy to 12.3% due to an improvement in sales mix and efficiency of centralized procurement. Adjusted PAT increased by 65.8% yoy to Rs252cr.
Board has also approved acquisition of 50.8% paid-up share capital of Avenue E-Commerce Limited for Rs49.2cr. Post-acquisition it will become wholly owned subsidiary. Heavy discounts to attract price sensitive customers and losses of the e-commerce entity will offset the margin gains.

Cipla, Aurobindo and Strides Shasun receive final approval for gViread
Cipla, Aurobindo and Strides Shasun have received final approval for their Abbreviated New Drug Application (ANDA) for Tenofovir Disoproxil Fumarate Tablets, 300mg, from the USFDA. This is a generic version of Gilead Sciences' Viread Tablets, 300mg which is indicated in combination with other antiretroviral (ARV) agents for the treatment of HIV-1 infection in adults. The final approval means that product is available for immediate commercialization in the US.
Viread 300mg tablets had annual US sales of approximately $725-750mn as per IMS Health. An orange book search on USFDA website indicates that Aurobindo, Cipla, Teva, Macleods Pharmaceuticals and Strides Shasun, all have received approval for this drug on January 26, 2018. Approval for five different filers on the same day is likely to see competition for the Viread 300mg tablets.

Havells to set up a manufacturing unit in Rajasthan for an investment of Rs360cr
Havells is setting-up a new facility at Ghiloth, Neemrana, Rajasthan to manufacture consumer durables, as per the BSE filing. The total estimated cost for the project is Rs360cr (ex-land cost, as the company already owns the land), spread over a period of 3 years. The total investment will be funded through a mix of internal accruals and borrowings. Company expects to start the production from Q3FY19E.
For this investment, the company will be entitled to investment subsidy under the M-SIPS (Modified Special Incentive Package Scheme) introduced by MEITY and also for various tax/ levies and other benefits from the State Government of Rajasthan.

DLF is looking to launch QIP of shares by April, 2018
DLF is looking to launch its qualified institutional placement (QIP) of shares by April 2018, according to a media report.
DLF has already received approval from shareholders to sell 173-million equity shares, which will be determined by the formula laid down by the market regulator Securities and Exchange Board of India. The company may raise Rs4500-5000cr from the QIP.

Idea Cellular seeks government approval for raising FDI limit to 100%
Telecom operator Idea Cellular has made an application to the DIPP (Department of Industrial Policy and Promotion) for raising the FDI limit in Idea to 100%. Foreign investors holdings in Idea Cellular stood at ~27% stake as on December 2017. While 100% FDI is allowed in telecom companies, investments under the automatic route are allowed up to 49%.
At present, Idea Cellular is in the process of merging its telecom business with the Indian unit of Vodafone. As per latest industry data from Trai, Idea and Vodafone jointly have 40.5cr mobile subscribers. This would potentially give the joint entity the largest subscriber base in the Indian telecom segment. Vodafone is expected to hold around 47.5% stake in the merged entity and rest will be owned by Idea and its promoter Aditya Birla Group.

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Capitalstars Updates: Top Corporate News :- 19 Jan 2018

Top Headlines Of The Day:- 19 Jan 2018

Alembic to consider share buyback

Pizza still hot, Jubilant Foodworks stock jumps 7% after strong performance

Lupin launches generic Vibra-Tabs tablet in the US

Cadila Healthcare's Dabhasa plant clears USFDA inspection

GST rate on drip irrigation products reduced from 18% to 12%, Jain Irrigation gains 4%

Alembic to consider share buyback
Alembic Ltd has indicated that the board of directors would consider and approve the share buyback in the board meeting to be held on January 23, 2018. The board of directors would also consider the minimum a the d maximum number of shares, mode of the buyback, etc.
Alembic Ltd in Q2FY18 reported debt-free balance sheet and had a cash and investments (long term and short term) of Rs735cr. It has a total net worth of Rs911cr. Capex requirement has not been very high in the last three years. Overall balance sheet remains strong and has been generating cash flows over the past three years.

Pizza still hot, Jubilant Foodworks stock jumps 7% after strong performance
Jubilant Foodworks (JFL) stock rallied 7.0% backed by strong quarterly performance. The stock is currently trading at a 52-week high on the BSE.
The stock reacted positively on account of its strong Q3FY18 performance. JFL reported a strong set of numbers for Q3FY18, significantly ahead of consensus estimates on operating and profitability fronts. Revenue grew by 20.7% YoY to Rs795.2cr. Same Store Sales (SSS) growth for Domino’s for the quarter stood at 17.8% yoy led by product upgrades, everyday value pricing offers. Dunkin' losses have continued to reduce owing to the sharper focus on donuts and beverages and closure of unprofitable stores.

Lupin launches generic Vibra-Tabs tablet in the US
Pharma Major Lupin announced the launch of its Doxycycline Hyclate Tablet USP, 100 mg having received an approval from the United States Food and Drug Administration (FDA) earlier.
Lupin’s Doxycycline Hyclate Tablet USP, 100 mg is the AB-rated generic equivalent of Pfizer Inc.’s Vibra-Tabs, 100 mg. It is indicated in the treatment of infections caused by various microorganisms and as an adjunctive therapy in severe acne.
Doxycycline Hyclate Tablet USP, 100 mg had annual sales of approximately USD 144 million in the US. (IMS MAT November 2017).

Cadila Healthcare's Dabhasa plant clears USFDA inspection
Cadila Healthcare reported that its Dabhasa plant has cleared a USFDA audit with zero observations. Dabhasa is an API plant, which is located near Vadodara. This plant was earlier cleared by the Mexican health authority (COFEPRIS) as per its conference call in August 2017.
Last year, Cadila received approval for its Moraiya facility, which is very critical for its pipeline monetization and future growth. We believe that clearance to another plant is a positive news on this counter. While the facility approvals are positive, competition in the US market is expected to put pressure on margins in FY19E. The stock currently trades at a rich valuation (23x of FY19E EPS).

GST rate on drip irrigation products reduced from 18% to 12%, Jain Irrigation gains 4%
Jain Irrigation Systems stock is up 4% on the back of the news that the GST rate on Drip irrigation systems including laterals, sprinklers products has been reduced from 18% to 12% as per the decision was taken at 25th GST Council Meeting held on January 18, 2018. The new GST rates shall be effective from January 25, 2018.
The company has decided to pass on this benefit of 6% directly to the customers/farmers. This is a positive step taken by the Government to encourage farmers to invest in efficient irrigation systems which saves water and improves productivity. We estimate that this action will have a positive impact in the upcoming busy season for our Drip Irrigation Division, according to the press release.

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Capitalstars Updates: Top Corporate News :- 18 Jan 2018

Top Headlines Of The Day:- 18 Jan 2018

L&T Technology Services wins $50 million avionics contract

Dilip Buildcon has been awarded project worth Rs730.08cr by NHAI

Bharat Forge sets up e-mobility R&D center in the UK

Varun Beverages to acquire franchisee rights for Bihar

Tata Consultancy Services expands partnership with Shure

L&T Technology Services wins $50 million avionics contract
L&T Technology Services Ltd (LTTS) has announced that it has won a landmark project worth $50 million spanning over five years from a leading aerospace electronic systems manufacturer. The company added that LTTS has emerged as the winner to be the strategic supplier for the client’s Engineering and R&D (ER&D) pursuits.
Further to the announcement, the company stated aerospace customers are looking for an end to end engineering partners for their new age aviation initiatives and the project with LTTS will result in a transformation of their operations into a managed services model. This model will encapsulate support to both existing products and also for work related to the next-generation in-flight system.

Dilip Buildcon has been awarded project worth Rs730.08cr by NHAI
Dilip Buildcon has been declared lowest bidder (L1) by National Highway Authority of India (NHAI) for an engineering, procurement, and construction road project of length 29.29km in the state of Madhya Pradesh, at a bid price of Rs730.08cr. 
Dilip Buildcon is a Bhopal based road contractor and developer. Starting from 2006, the company gained scale in road EPC as the MP government increased expenditure on road network development. The company progressively diversified from Madhya Pradesh government orders to central and other state government road projects. Roads, highways, and bridges formed 81%, mining formed 16%, urban development formed 2% and irrigation formed 1% of DBL’s Q2FY18 order book.

Bharat Forge sets up e-mobility R&D center in the UK
Bharat Forge, India's largest exporter of auto components, has opened a Research & Development facility in the UK, in MIRA Technology Park, the UK's leading automotive technology park and Enterprise Zone, where it will be developing components & sub-systems focused on Electric Vehicles.
This facility will complement the capabilities & knowledge established over the past 2 years in Kalyani Centre for Technology & Innovation (KCTI) & Kalyani Centre for Manufacturing Innovation (KCMI) in Pune, focused on delivering solutions for Electric Vehicles.

Varun Beverages to acquire franchisee rights for Bihar
Varun Beverages Varun Beverages (VBL) has approved to acquire the franchise rights for PepsiCo India’s previously franchised sub-territory in Bihar, in its board meeting held on January 17, 2017.
Earlier in December, VBL entered into binding agreement to acquire two of PepsiCo India’s franchise - PepsiCo India’s previously franchised sub territory in the state of Jharkhand (20 districts) along with manufacturing units and franchise rights for the state Chhattisgarh.
Post this company will be a franchise for PepsiCo products across 20 states and 2 union territories of India.

Tata Consultancy Services expands partnership with Shure
Tata Consultancy Services, a leading global IT services, consulting and business solutions organization, announced the expansion of a strategic partnership with Shure Incorporated a world-renowned audio equipment manufacturer.
As a part of this collaboration, TCS has established a Global Development Center to help build cross-platform and mobile-enabled software for Shure's leading-edge audio technology and solutions for an exceptional end-user customer experience. TCS already plays an important role in the assurance and end-to-end system integration testing of some of Shure's new product lines, and Shure will now have the capability to leverage TCS' Innovation Labs and expertise in digital technologies including loT and Cyber Security to create secure, scalable, and differentiated audio products and solutions.

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Capitalstars Updates: Top Corporate News :- 17 Jan 2018

Top Headlines Of The Day:- 17 Jan 2018

Texmaco Rail to set up logistics hub and food park in West Bengal

Sun Pharma settles patent dispute regarding Linzess

GAIL and Gazprom renegotiate the long-term LNG sale and purchase agreement

Ashok Leyland signs Letter of Intent with Israeli firm for aluminum-air batteries

Bharat Forge sets up e-mobility R&D center in the UK

Texmaco Rail to set up logistics hub and food park in West Bengal
Texmaco Rail & Engineering Ltd, engaged in the business of rail freight cars and EPC, is exploring an opportunity for setting up a mega logistics hub cum food part with a manufacturing facility at Sankrail in Howrah, West Bengal.
The company believes that on the implementation of the project, it will trigger a major industrial activity to provide a balance in the economic development of the region. This would also provide a diversification in its business portfolio.
The company’s announcement comes during the time when the country’s top businessmen expressed their confidence that the state of Bengal is on the path of economic growth, in the Bengal Global Business Summit.

Sun Pharma settles patent dispute regarding Linzess
Sun Pharma has reached an agreement with Ironwood Pharmaceuticals and Allergan to settle a patent litigation for generic of Linzess in the US. Sun Pharma is seeking a USFDA approval pertaining to its abbreviated new drug application (ANDA) for this drug.
According to the settlement, Ironwood Pharma and Allergan will grant a license to Sun Pharma to market the generic version of Linzess in the US market effective from February 1, 2031. Sun Pharma can launch the generic earlier based on certain predetermined circumstances. Post the settlement, the litigation against Sun pharma will be dismissed, however the same is subject to routine regulatory approval.

GAIL and Gazprom renegotiate the long-term LNG sale and purchase agreement
GAIL had executed a long-term sale and purchase agreement (SPA) building up to 2.5MMTPA of LNG on discharge- ex-ship basis with Gazprom Marketing & Trading Singapore (GMTS) in the year 2012, the supplies under, which are scheduled to start in Q2CY18.
The two parties have agreed to an adjustment to the price and volume of LNG supply thus enabling GAIL to develop incremental gas markets to offtake these volumes thereby mitigating volume risk.
The delivered price of LNG may be less by 50 cents to $1 per MMBtu compared to the earlier formula agreed upon, according to media reports. The price is based on an oil-indexed formula.

Ashok Leyland signs Letter of Intent with Israeli firm for aluminum-air batteries
Ashok Leyland Limited (ALL), one of the largest commercial vehicle (CV) manufacturers in India, has signed a Letter of Intent (LoI) with Israeli firm Phinergy for use of aluminum-air batteries for Electric CVs in India. This was announced to the stock exchanges on January 17, 2018.
Phinergy is a leading developer of clean and high energy-density systems based on metal-air technology. With its aluminum-air battery, Phinergy has developed a revolutionary way to generate electricity using aluminum as an energy source. ALL plans to use this technology to meet energy requirements of its CVs in India. Prototypes and pilot trials will be developed over the next few months.

Bharat Forge sets up e-mobility R&D center in the UK
Bharat Forge, India's largest exporter of auto components, has opened a Research & Development facility in the UK, in MIRA Technology Park, the UK's leading automotive technology park and Enterprise Zone, where it will be developing components & sub-systems focused on Electric Vehicles.
This facility will complement the capabilities & knowledge established over the past 2 years in Kalyani Centre for Technology & Innovation (KCTI) & Kalyani Centre for Manufacturing Innovation (KCMI) in Pune, focused on delivering solutions for Electric Vehicles.

The Electric Mobility Research and Development Centre will be able to tap into the extensive testing facilities at MIRA Technology Park as well as the pool of engineering talents in the Midlands.

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Capitalstars Updates: Top Corporate News :- 16 Jan 2018

Top Headlines Of The Day :- 16 Jan 2018

GNFC shuts down TDI plant at Dahej; Stock slides downwards more than 7% 

BSE board approves buyback of shares upto Rs1,100 per share 

TV18 Q3 net profit down 8% at around Rs 16 cr

Network18 Media & Investments Q3 net profit at Rs 11.43 cr

ICICI Lombard Q3 PAT rises 5% to Rs 232 cr

GNFC shuts down TDI plant at Dahej; Stock slides downwards more than 7%
Gujarat Narmada Valley Fertilizers and Chemicals (GNFC), in its filing to BSE, has informed that it had to shut down its TDI-II (Toluene Di-Isocynate) plant at Dahej due to a sudden leakage.
The leakage in TDI-II plant at Dahej was noted in the morning on January 15, 2018. The company reported that there was no property damage or any loss of life.
The management has decided to close the plant indefinitely till the root cause is analyzed, reviewed and necessary further safety measures are taken.
The current capacity of TDI-II plant is 50,000MTPA, which was operating at optimum utilization level. The plant faced a similar issue in FY15 wherein it had accounted an impairment loss of Rs330cr due to the issue of gas emission and problems in bringing the plant at effective utilization level. However, as the issues were resolved by the company, the impairment loss was reversed in FY17.

BSE board approves buyback of shares upto Rs1,100 per share
The Board of Directors of BSE Limited approved a Buyback proposal at a price not exceeding Rs1,100  from the open market. The amount of the buyback is not to exceed Rs166cr. This buyback amount is 9.99% of the company’s standalone net-worth (as on March 2017). The total cash and current investments for the company stood at Rs906.4cr at the end of FY17.
BSE is the second largest stock exchange with a market share of 17% in FY17. BSE is the leader in the Small & Medium Enterprises and Mutual fund segments with 80% and 82% market share respectively. The company also has several ongoing initiatives such as Indian International Exchange and 
Commodity Trading. Trading on the International exchange began in January 2017, whereas commodity trading is yet to begin. The company has guided that they plan to levy transaction fees on the International Exchange by FY19.

TV18 Q3 net profit down 8% at around Rs 16 cr
Media firm TV18 Broadcast today reported an 8.1 per cent decline in consolidated net profit at Rs 15.87 crore for the quarter ending December mainly due to higher tax expenses.
The company had posted a net profit of Rs 17.27 crore during the same period previous fiscal, TV18 Broadcast said in a regulatory filing.
Total income during the quarter under review grew 8.88 per cent to Rs 277.37 crore as against Rs 254.73 crore in the October-December quarter previous fiscal.

Network18 Media & Investments Q3 net profit at Rs 11.43 cr
Network18 Media & Investments today reported a consolidated net profit of Rs 11.43 crore in the third quarter ended December 31, 2017.
The company had posted a consolidated net loss of Rs 77.82 crore in the year-ago period, Network18 Media & Investments said in a BSE filing.
Total income during the quarter under review stood at Rs 439.23 crore as against Rs 353.42 crore in the same quarter previous year.

ICICI Lombard Q3 PAT rises 5% to Rs 232 cr
ICICI Lombard General Insurance today reported a 5.20 per cent increase in profit after tax (PAT) at Rs 231.76 crore for the quarter ended December 31, 2017.
A subsidiary of ICICI Bank, the general insurance firm had earned a PAT of Rs 220.30 crore in the same quarter of the previous fiscal.
Total income rose to Rs 2,019.77 crore from Rs 1,842.93 crore in the year-ago period, ICICI Lombard said in a BSE filing.

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SENSEX MAKES SMART RECOVERY TO LOG 135 POINTS GAIL, NIFTY 50 TOPS 7530 - 9 Mar 2016

The domestic stock market staged an impressive comeback that helped the S&P BSE Sensex rally from a 208-point loss to log 161-point gain at 24,820 on Wednesday, thanks to a bounce in realty and capital goods stocks.

The market was trading in the red till mid-day on weak global cues as a fresh slump in crude prices dragged the US markets in overnight trade while a selloff in Chinese equities spooked stock markets globally this morning amid renewed concerns over the outlook for the Chinese Economy.

But the domestic benchmarks went on to make solid gains following strong cues from the European markets. The S&P BSE Sensex ended at 24,793.96, up 134.73 points or 0.55 per cent, extending its winning streak to the sixth day. The NSE's Nifty50 closed at 7,531.80, up 46.50 points or 0.62 per cent.

HEADLINES OF THE DAY

Crompton sells international T&D business for Euro 115 million

Maruti Suzuki launches compact SUV Vitara Brezza

HDFC in talks to acquire L&T General Insurance

The crucial resistance for Nifty SPOT is now seen at 7577 and above this 7634. Support for the immediate term is now placed at 7442 and next support will be 7380.

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www.capitalstars.com | T:+91-731-6790000,6669900

CS OPENING BELL 06-Nov-15

CS OPENING BELL:

NIFTY SPOT UP 17@7975

SENSEX UP 45@26347

BANK NIFTY FUTURES DOWN 17@17052

CS NIFTY FUTURES (NOVEMBER) OVERVIEW

TREND MIXED TO BULLISH

RES2:8075

RES 1:8020                     

SUP1:7950

SUP2:7915

CS BANK NIFTY FUTURES (NOVEMBER) OVERVIEW

TREND MIXED TO BEARISH

RES 2:17255

RES 1:17175

SUP1: 17015

SUP2: 16925

Our Services: Intraday Trading Calls, Future & Option Tips, Commodity Market Tips,Positional Option Tips, Stock Tips, Commodity Tips, Ncdex Tips

CS OPENING BELL 05-Nov-15

CS OPENING BELL:

NIFTY SPOT DOWN 25@8015

SENSEX DOWN 97@26467

BANK NIFTY FUTURES DOWN 82@17207

CS NIFTY FUTURES (NOVEMBER) OVERVIEW

TREND MIXED TO BEARISH

RES2:8125

RES 1:8095                     

SUP1:8050

SUP2:8010

CS BANK NIFTY FUTURES (NOVEMBER) OVERVIEW

TREND MIXED TO BEARISH

RES 2:17515

RES 1:17450

SUP1: 17150

SUP2: 17095

Our Services: Intraday Trading Calls, Future & Option Tips, Commodity Market Tips,Positional Option Tips, Stock Tips, Commodity Tips, Ncdex Tips 

CS OPENING BELL 04-Nov-15

CS OPENING BELL:

NIFTY SPOT UP 50@8111

SENSEX UP 165@26777

BANK NIFTY FUTURES UP 105@17482

CS NIFTY FUTURES (NOVEMBER) OVERVIEW

TREND MIXED TO BULLISH

RES2:8175

RES 1:8150                     

SUP1:8050

SUP2:8010

CS BANK NIFTY FUTURES (NOVEMBER) OVERVIEW

TREND MIXED TO BULLISH

RES 2:17615

RES 1:17545

SUP1: 17305

SUP2: 17175

Our Services: Intraday Trading Calls, Future & Option Tips, Commodity Market Tips,Positional Option Tips, Stock Tips, Commodity Tips, Ncdex Tips 

CS OPENING BELL 02-Nov-15

CS OPENING BELL:

NIFTY SPOT DOWN 7@8057

SENSEX UP 165@26822

BANK NIFTY FUTURES DOWN 5@17412

CS NIFTY FUTURES (NOVEMBER) OVERVIEW

TREND MIXED TO BEARISH

RES2:8175

RES 1:8125     

SUP1:8065

SUP2:8015

CS BANK NIFTY FUTURES (NOVEMBER) OVERVIEW

TREND MIXED TO BULLISH

RES 2:17555

RES 1:17495

SUP1: 17215

SUP2: 17155

Our Services: Intraday Trading Calls, Future & Option Tips, Commodity Market Tips,Positional Option Tips, Stock Tips, Commodity Tips, Ncdex Tips