Dr. Reddy’s acquires Rights to Investigational Anticancer Agent E7777

Eicher Motors March 2016 CV Sales grow a robust 53%

Eicher Motors March 2016 CV Sales grow a robust 53%; above estimates

Eicher Motors CV volumes grew 53% YoY to 6,753 units for the month of March 2016, coming better than our estimates of 6,000 units.Improving commercial vehicle industry volumes coupled with increased sales of “Pro” series led to strong volumes for the company.

HCL Technologies close to acquire Geometric

HCL Technologies has agreed to acquire Mumbai-headquartered engineering solutions company Geometric in a share swap deal that values it at $150-200 million. The deal was expected to be announced in a couple of days.HCL will acquire the 31.09% stake held by Godrej Investments and Godrej & Boyce Manufacturing Company along with the stake of founder and Chief Executive Officer Manu Parpia. The Parpia family owns a 6.73% stake in Geometric.

Dr. Reddy’s acquires Rights to Investigational Anticancer Agent E7777

Dr. Reddy’s Laboratories acquires the Rights to Investigational Anticancer Agent E7777 for U.S, Europe and Certain Emerging Markets from Eisai – Long term Positive for Dr Reddy.

SRF commissions first phases of two manufacturing facilities

SRF Ltd has commissioned first phases of its chemical projects at Dahej and Bhiwadi, with a total investment of Rs34 crore. Earlier company's board had given approval to establish manufacturing facility for R-134a (Pharma Grade chemical) at Dahej in Gujarat (capex of Rs25 crore) and HFC 134a and HFC 32 at Bhiwadi, used as refrigerant (total capex of Rs12crore).

IDBI Bank gains after selling stake in NSE

Shares of IDBI Bank rose by 3%, touching to Rs71.5, after the state-run bank announces selling 9 lakh shares or 2% stake in National Stock Exchange of India to Life Insurance Corporation of India (LIC).The stock hit a high of Rs71.50 and a low of Rs70 so far during the day.

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Reliance Jio to enter 4G market with competitive pricing

Reliance Jio to enter 4G market with competitive pricing

Reliance Industries - Media reports reveals that Reliance Jio is likely to enter market with very competitive pricing for its 4G services, way ahead of its peers offerings.

This is to intensify competition and RIL JIO could gain market share. As per media reports, the SIM cards will be available at a cost of Rs200 and JIO will offer humongous 75GB of  4G data and 4500 minutes of call timeas well as some freebies.This is sentimentally positive for Reliance Industries.

RBI eases ECB norms for Infra firms

RBI eases ECB norms for Infra firms – positive for REC, PFC, L&T Finance Holding, SREI and infra firms,RBI allowed all companies engaged in the infrastructure sector to raise external commercial borrowings with a minimum maturity of five years, including those non-banking finance companies (NBFC) regulated by the RBI.

Coal India receives green nod from environment ministry

Coal India has received a green nod from environment ministry panel with some riders to Coal India's Ashok open cast mining project in Jharkhand.The estimated production from the mine is in the range of 10 to 14 MTPA – Positive read thru for Coal India.

Apollo Tyres appoints Steven Smidlein as Senior VP

Apollo Tyres appointed Steven Smidlein as a Senior VP to boost sales in North America. Steven Smidlein would be responsible for building the brand and sales in North America for both, Apollo and Vredestein brands.Steven comes with a 30+ years of experience in the sales Management and has served as a Director, OE Sales for a leading tyre maker in North America and as a Corporate Director for Daimler Chrysler.

Aurobindo receives USFDA approval for Pantoprazole Sodium

Aurobindo Pharma receives USFDA approval for Pantoprazole Sodium for Injection – Positive for Aurobindo.Aurobindo has received final approval from USFDA to manufacture and market Pantoprazole Sodium i.e. gProtonix. This product is expected to be launched in Q1 FY16-17. Pantoprazole Sodium for Injection is a gastrointestinal drug.

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TOP CORPORATE NEWS- 30 Mar 2016

PSU banks to get Rs2,375-cr capital infusion

As many as three public sector lenders including Bank of India and Central Bank of India received the approval from government for capital infusion of up to Rs2,375 crore. The government of India has conveyed their approval to infuse capital funds to the tune of Rs1, 150 crore in the banks by way of preferential allotment of equity shares in favour of government of India.

This is part of the government's plans to infuse Rs5, 050 crore in the public sector banks. Besides, Allahabad Bank will get Rs690 crore while another public sector lender Central Bank of India will get fund infusion of Rs535 crore by way of preferential allotment of equity in favour of the government of India.

ZEEL to reorganize channel distribution, advertisement sales functions

Zee Entertainment Enterprise Ltd (ZEEL) will reorganize its channel distribution and advertisement sales functions.

The board of the company has in-principle approved the proposal of reorganization of channel distribution function, which is presently handled by its wholly-owned subsidiary Taj Television.

Tata Steel puts entire UK biz for sale; stk gains

Shares of Tata Steel rose nearly 7%, touching to Rs325, after the company said it was exploring options to restructure its portfolio, including the potential divestment of Tata Steel UK, in whole or in parts.

The company said it had incurred heavy losses on the UK business in the past 12 months and the recent transformation plan prepared by the European subsidiary, Strip Products UK, was unaffordable as it demanded 'material funding' support in the next two years.

Cadila Healthcare gets USFDA nod for dextroamphetamine sulfate

Cadila Healthcare’s US subsidiary Nesher Pharma gets USFDA nod for dextroamphetamine sulfate used to treat hyperactivity disorders and narcolepsy – Positive for Cadila.

TVS Motor gains on launching new product in 4 states

TVS Motor surged over 3%, touching to Rs326.1, after company had launched its new four strokes TVS XL 100 in Madhya Pradesh, Andhra Pradesh, Telangana and Maharashtra during the current month.

On March 16, the company announced that it has made an arrangement with e-commerce major Snap deal to sell its two-wheelers online.

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TOP CORPORATE NEWS- 22 Mar 2016

SBI raises Rs500 cr via tier-ll bonds

State-owned lender State Bank of India (SBI) on Tuesday said it has raised Rs500 crore through issuance of 5,000 Basel III compliant, tier-ll bonds in the nature of debentures on a private placement basis.The Bank has on March 21, 2016 issued 5,000, Basel III compliant, Tier-ll bonds in the nature of debentures, of face value of Rs10,00,000 each at par, with 10 year tenure, bearing 8.45 per cent p.a. coupon payable annually and with call option after 5 years, aggregating to Rs500 crore on private placement basis.

Bharti Airtel to close $179 million telecom tower deal

Bharti Airtel to close $179 million telecom tower deal (1350 towers) for Tanzania operations with American Tower Co by Jun.

Infibeam IPO subscribed 21% on Day 1

Infibeam Incorporation Ltd, the first e-commerce firm to tap the IPO route, saw its Rs450 crore issue getting subscribed 21% on the opening day.

The issue received bids for 26, 44,792 shares as against the total issue size of 1, 25, 00,000 shares, as per NSE's data yesterday.

Government plans 100% FDI for commodity broking

Government plans 100% FDI (automatic route) for commodity broking, IDF and other set of NBFCs—positive read thru for Religare Enterprises, IDFC, Motilal Oswal Financial etcAs per media reports, the Government is expected to propose 100% FDI in 25 more segments of NBFCs including commodity broking and infrastructure debt fund with a view to attract more foreign inflows.

Emami drags Patanjali to court for infringement of trade mark

Emami drags Patanjali to court, claims Patanjali launch of ‘ Kesh Kanti’ as an infringement of its trade mark ‘ Kesh King’ – court directed Patanjali to stop selling product for 10 weeks; sentimentally positive for Emami.

Emami Ltd has gone into confrontational mode, accusing the Baba Ramdev-promoted ayurvedic behemoth of copying design and trade mark of its ' Kesh King' brand of hair tonic.

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TOP CORPORATE NEWS- 21 Mar 2016

Persistent Systems, IBM tie-up to contribute 15-20% to revenue in FY17

Persistent Systems has tied-up with IBM to jointly work on the latter’s Internet of Things (IoT) platform.

The Company’s management stated that the partnership will be revenue accretive and will add about 15-20% to the company’s revenue in FY2017.The deal will also add close to 500 employees which includes experts from IBM. The Company has also set up subsidiaries in Mexico and Israel in collaboration with IBM.

ITC market share in instant noodles segment rises to 30-40%

ITC market share in instant noodles segment rises to 30-40% (from 20% earlier) - positive for ITC’s non-cigarette FMCG business.ITC sales of its instant noodles brand Yippee are recovering and its market share has risen in the range of 30 to 40% (from 20%). pre-Maggi controversy the industry sales were Rs 250-300 crore per month.The industry sales tanked to 5-10 per cent after the controversy broke, but now it is able to recover to nearly 50% of the original industry sales.

BHEL commissions another 270 MW coal-based unit in Punjab

State-run Bharat Heavy Electricals Ltd (BHEL) on Monday said it has commissioned second 270 MW coal-based unit in Punjab.The unit has been commissioned at the 2x270 MW Goindwal Sahib coal-fired thermal power project of GVK Power & Infra Ltd (GVKPIL), located in Goindwal Sahib in Tarn Taran district, near Amritsar, Punjab.

Aurobindo receives USFDA approval for Naproxen Sodium Tablets

Aurobindo receives final approval from USFDA to manufacture and market Naproxen Sodium Tablets (OTC). This product is expected to be launched in Q1 FY16-17. Naproxen Sodium Tablets is used in the treatment and prevention of osteoporosis in postmenopausal women.

Zee Entertainment in talks to acquire Reliance Broadcast

Zee Entertainment in talks to acquire Reliance Broadcast Network (RBNL)

ZEEL is in talks with Reliance Broadcast Network Ltd (RBNL) to acquire 49% stake in the latter's BIG FM radio business as well as a 100% stake in its television channels.

If the deals happen it will be a long term positive for ZEEL, as it will consolidate its positioning in broadcasting business and also foray into the Radio segment will expand its value chain in the Media and Entertainment space, though deal valuation will be crucial to gauge impact in near to medium term.

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DAILY NIFTY SMART MOVERS & LAGGARDS - 25 Feb 2016

DAILY NIFTY SMART MOVERS

SCRIPTS	PRICE	VOLUME             (IN 000’S)	PRE. CLOSE	CHANGE (%)	CHANGE (Rs.)
ONGC	217.10	3390.62	209.40	3.68	7.70
Sun Pharma Inds.	877.15	3678.84	854.55	2.64	22.60
HDFC	1042.05	5700.55	1022.10	1.95	19.95
Coal India	299.55	11973.67	295.25	1.46	4.30
Idea Cellular	106.00	5838.90	104.70	1.24	1.30

                     
DAILY NIFTY TOP LAGGARDS 

SCRIPTS	PRICE	VOLUME (000’S)	PRE. CLOSE	CHANGE (%)	CHANGE (Rs.)
Power Grid Corpn.	131.40	10100.65	139.70	-5.94	-8.30
Yes Bank	667.10	3824.38	690.65	-3.41	-23.55
SBI	151.70	20916.54	156.30	-2.94	-4.60
Tata Motors	297.75	11047.92	306.30	-2.79	-8.55
Bank Of Baroda	130.00	11764.67	133.70	-2.77	-3.70

                                             

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NIFTY SPOT UP 32@8150

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BANK NIFTY FUTURES DOWN 42@ 17680

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DAILY NIFTY SMART MOVERS

SCRIPTS	PRICE	VOLUME             (IN 000’S)		PRE. CLOSE	CHANGE (%)	CHANGE (Rs.)
Tata Motors	334.30	18118.42		315.15	6.08	19.15
Coal India	343.60	4477.59		329.75	4.20	13.85
ITC	342.35	6804.53		329.50	3.90	12.85
Cipla	663.50	2430.48		640.10	3.66	23.40
GAIL India	308.75	689.57		298.90	3.30	9.85

DAILY NIFTY TOP LAGGARDS

SCRIPTS	PRICE	VOLUME (000’S)	PRE. CLOSE	CHANGE (%)	CHANGE (Rs.)
BHEL	197.75	5991.76	204.15	-3.13	-6.40
Infosys	1155.50	4128.82	1181.75	-2.22	-26.25
Ultratech Cement	2765.10	361.43	2816.45	-1.82	-51.35
ACC	1350.05	271.36	1369.70	-1.43	-19.65
Axis Bank	505.90	7962.86	513.25	-1.43	-7.35