Rupee extend upmove with modest gains

     Indian rupee after making a modestly lower start and trading mostly flat, managed to end slightly higher on Wednesday. Although, the regional peers remained in red, the domestic currency extended its gains supported by some late hour recovery in the equity markets. However, intraday the rupee slipped at the Interbank Foreign Exchange due to increased demand for the US currency from importers and dollar’s strength overseas. In global markets the dollar halted its two days losing streak ahead of the release of the Federal Reserve’s minutes of most recent meeting.
     Finally, the rupee ended at 61.40, stronger by 2 paise from its previous close of 61.42 on Tuesday. The currency touched a high and low of 61.54 and 61.34 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 61.46 and for Euro stood at 77.65 on October 08, 2014. While, the RBI’s reference rate for the Yen stood at 56.69, the reference rate for the Great Britain Pound (GBP) stood at 98.7678. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Eros International trades jubilantly on continuing partnership with NGE for housefull 3

BSE Code - 533261
Face Value - Rs 10.00
Group - BSE 'B'
Shareholding pattern - (a)Promoters - 74.76%
                                    (b)Institutions - 17.39%
                                    (c)Non-Institutions - 7.85%
One year High-Low - Rs 282.00 - 131.25
     Eros International Media (Eros), a leading global company in the Indian film entertainment industry has continued its partnership with Sajid Nadiadwala to release the third instalment of the hugely successful comedy franchise Housefull.
     Following the unprecedented success of the first two in the series, Eros once again teams up with Nadiadwala Grandson Entertainment (NGE) for the much awaited Housefull 3, directed by writer-turned-director duo Sajid-Farhad. The film is slated for a 2015 release.
     Eros International Media is a part of the Eros Group., which has an extensive film library and is in the business of sourcing Indian and other film content and exploiting it worldwide through its offices in India, UK, USA, UAE, Singapore, Australia, the Isle of Man and Fiji across formats such as theatres, home entertainment, television and digital new media.
     Stock is currently trading at Rs 269.20, up by 14.20 points from its previous closing of Rs 255.00 on the BSE.

market race

KPIT Technologies surges on acquiring 50% Bharat Forge stake in Impact Automotive Solutions

BSE Code - 532400
Face Value - Rs 2.00
Group - BSE 'B'
Shareholding pattern - (a)Promoters - 22.20%
                                   (b)Institutions - 45.37%
                                   (c)Non-Institutions - 32.43%
One year High-Low - Rs 190.90 - Rs 129.60
     KPIT Technologies has acquired the 50 percent stake held by Bharat Forge in Impact Automotive Solutions, an equal joint venture between the Company and Bharat Forge, formed for the manufacture of hybrid solutions for automotives. The stake was acquired by the Company for Rs 10.80 crore. After this transaction, Impact Automotive Solutions has become a wholly owned subsidiary of the Company.
     KPIT Technologies is one of the fastest growing global product engineering and IT consulting partners, focused on co-innovating domain intensive technology solutions for automotive & transportation, manufacturing and energy & utilities corporations.
     Stock is currently trading at Rs 161.35, up by 2.05 points from its previous closing of Rs 159.30 on the BSE.

Venus trades jubilantly as its arm ties up with Mylan

BSE Code - 526953
Face Value - Rs 10.00
Group - BSE 'B'
Shareholding pattern - (a)Promoters - 37.73%
                                   (b)Institutions - 8.69%
                                   (c)Non-Institutions - 53.58%
One year High-Low - Rs 350.00 - Rs 180.00   
     Venus Remedies is a pharmaceutical manufacturing company. The company provides formulations in area of antibiotics and oncological therapeutics. The company has two manufacturing facilities located in India and Germany. It manufactures Oncological and Cefelosporine Injectable products.
     Venus Remedies’ wholly owned subsidiary has entered into a distribution-cum-out-licensing agreement with Mylan for marketing its generic broad-spectrum antibiotic, meropenem, in three European countries. This deal with Mylan, the world’s third largest generic drug manufacturer, will enable Venus Remedies to market meropenem in Denmark, Sweden and Finland for a period of five years.
     Under this non-exclusive marketing agreement, Venus will manufacture the drug at its Baddi facility, which recently got a renewed European Union Good Manufacturing Practices (GMP) certification, while the batch release and logistics will be handled by its Germany facility Venus Pharma GmbH. The addition of territories on the basis of strategic tie-ups with its existing partners has re-established the faith of its customers in Venus’s quality standards and timely deliveries. This joint venture will further help Venus Pharma GmbH and its collaborators in maintaining their market position to figure among the top five players with around 30% share in meropenem markets in countries like Germany, France and UK.
     Venus already has a non-exclusive marketing tie-up with Mylan for the same product in France, where the drug has been successfully launched and is contributing to the company's top and bottom lines.
     Venus Remedies has secured more than 60 marketing authorisations for meropenem throughout the world from countries like the UK, France, Austria, Italy, Denmark, Finland, Ireland, Germany, Netherlands, Poland, Slovenia, Slovakia, Sweden, Portugal, Czech Republic, Cyprus, New Zealand and Mexico, among others. The company recently got its first Australian marketing authorisation for this product in tie-up with Lupin. Venus is now all set to receive marketing approvals for meropenem from Switzerland and South Africa.
     Stock is currently trading at Rs 312.00, up by 14.55 points from its previous closing of Rs 297.45 on the BSE.

Cipla jumps 2%, collaborates with UK's S&D Pharma

BSE Code - 500087
Face Value - Rs 2.00
Group - BSE 'A'
Shareholding pattern - (a)Promoters - 36.80%
                                   (b)Institutions - 35.86%
                                   (c)Non-Institutions - 26.23%
One year High-Low - Rs 576.50 - Rs 366.70
     Cipla, a global pharmaceutical company, has collaborated with S&D Pharma in the Czech Republic and Slovakia. This collaboration will enable Cipla to focus on its core therapy areas, while S&D Pharma will be the key partner for generics.
     Under the collaboration, Cipla will be driving its respiratory product portfolio in both Czech Republic and Slovakia through a Cipla owned sales force team, managed by Cipla commercial head. S&D Pharma will physically distribute all products, including respiratory products, and this portfolio will increase over the next few years.
     Cipla has emerged as one of the most respected pharmaceutical names in India as well as across more than 170 countries. Its portfolio includes 2000 products in 65 therapeutic categories with one quality standard globally.
     Stock is currently trading at Rs 574.00, up by 10.60 points from its previous closing of Rs 563.40 on the BSE.

Ashok Leyland trades jubilantly on bagging orders worth Rs 1,500 crore

BSE Code - 500477
Face Value - Rs 1.00
Group - BSE 'A'
shareholding pattern - (a)Promoters - 38.82%
                                   (b)Institutions - 34.21%
                                   (c)Non-Institutions - 14.59%
One year High-Low - Rs 41.30 -Rs 13.05
  Ashok Leyland, flagship of the Hinduja Group, and the largest supplier of buses to state transport corporations, has received orders worth Rs 1,500 crore for around 4000 buses from State Transport Undertakings (STUs).
     A total of 22 STUs across the country including Calcutta State Transport Corporation (CSTC), Bangalore Metropolitan Transport Corporation (BMTC), Andhra Pradesh State Road Transport Corporation (APSRTC), Jaipur City Transport Services (JCTSL), and Pune Mahanagar Parivahan Mahamandal (PMPML) have placed large orders on the company.
     The company will offer a mix of JanBus, midi-buses and Ultra Low Entry (ULE) buses as a part of the 4000 buses ordered under JNNURM-II. The supply of these buses has started and many of them are already carrying passengers.
     Ashok Leyland, the Hinduja Group flagship company in India, is engaged in the manufacturing of commercial vehicles and related components. The company’s products include buses, trucks, engines, defense and special vehicles.

     Stock is currently trading at Rs 40.65, up by 2.05 points from its previous closing of Rs 38.60 on the BSE.

Jayshree Chemicals zoom on plan to sell Chlor Alkali business to ABCIL

BSE Code - 506520
Face Value - Rs 10.00
Group - BSE 'B'
Shareholding pattern - (a)promoters - 48.82%
                                  (b)Institutions - 3.38%
                                   (c)Non-Institutions - 47.80%
One year High-Low - Rs 15.84 - Rs 4.34
     Jayshree Chemicals manufactures caustic soda, chlorine, hydrochloric acid, sodium hydrosulphite, sulphur dioxide and sulphuric acid.
     Jayshree Chemicals has received an approval for sale of the company’s Chlor Alkali business, comprising of manufacturing facilities at Ganjam, Odisha and Salt Works in Andhra Pradesh to Aditya Birla Chemicals (India) (ABCIL) for a cash consideration of Rs 212 crore. The board of directors at their meeting held on September 08, 2014 has approved for the same.
     The transaction will be done by way of slump sale of the business undertaking and is subject to approvals of the shareholders of the company and other necessary approvals of various Government Agencies.
     Jayshree Chemicals is currently trading at its upper circuit limit of Rs. 15.30, up by 0.72 points or 4.94% from its previous closing of Rs. 14.58 on the BSE.

Thomas Cook surges on acquiring majority shareholding in Sterling Holiday Rssorts

BSE Code - 500413
Face Value - Rs 1.00
Group - BSE 'B'
Shareholding pattern - (a)Promoters - 73.19%
                                   (b)Institutions - 13.83%
                                   (c)Non-Institution - 12.98%
One year High-Low - Rs 160.80 - Rs 55.05   
     Thomas Cook is the largest integrated travel and travel related financial services company in the country offering a broad spectrum of services that include Foreign Exchange, Corporate Travel, MICE, Leisure Travel, Insurance, Visa & Passport services and E-Business.
     Thomas Cook India has acquired majority shareholding in Sterling Holiday Resorts with further acquisition of over one crore shares for Rs 116.26 crore through off-market. Pursuant to a purchase of 11,863,334 paid-up equity shares of Sterling Holiday Resorts (India) at Rs 98 per share in an off-market transaction by Thomas Cook Insurance Services (India), Sterling Holiday Resorts India has become its subsidiary.
     Thomas Cook Insurance Services India (TCISIL) is a wholly-owned subsidiary of Thomas Cook (India). TCISIL now holds approximately 53.48% of Sterling Holiday Resorts India (SHRIL). Another subsidiary of Thomas Cook India, Travel Corporation (India) owns approximately 1.67% of the paid-up equity of SHRIL.
     Thomas Cook India group now holds nearly 55.14% of the paid-up equity share capital of SHRIL.
     Stock is currently trading at Rs 152.20, up by 7.85 points from its previous closing of Rs 144.35 on the BSE.

Apollo Tyres to set up plant in Hungary, stock rallies nearly 3%

BSE Code - 500877
Face Value - Rs 1.00
Group - BSE 'A'
Shareholding pattern - (a)Promoters - 44.06%
                                   (b)Institutions - 43.17%
                                   (c)Non-Institutions - 12.77%
One year High-Low - Rs 217.70 - Rs 61.00
     Shares of Apollo Tyres gained momentum in lackluster market following reports that the company is planning to set-up a new plant in Hungary. 
     The project involves investments of 442.2 million euros and is expected to create over 975 now jobs. It is to be carried out in Gyongyoshalasz, in Northern Hungary. 
     The European Commission has found that regional investment aid totalling 95.7 million euro to Apollo Tyres for the construction of a tyre plant in Gyongyoshalasz (Northern Hungary) is in line with EU state aid rules. 
     Apollo Tyres is currently trading at Rs 213.70, up by 4.05 points from its previous closing of Rs 209.65 on the BSE.

Gammon Infra to raise about Rs 259 crore via QIP issue

BSE Code - 532959
Face Value - Rs 2.00
Group - BSE 'B'
Shareholding pattern - (a)Promoters - 74.98%
                                   (b)Institutions - 12.02%
                                   (c)Non-Institutions - 13.00%
One year High-Low - Rs 16.43 - Rs 6.33
     Gammon Infrastructure Projects has raised Rs 259 crore through a qualified institutional placement (QIP). In this regard, the QIP Committee of Directors at its meeting held on September 08, 2014, has approved the issue and allotment of 20,41,74,286 equity shares to eligible qualified institutional buyers at the issue price of Rs. 12.68 per equity share, aggregating to approximately Rs. 258.89 crores.
     Gammon Infrastructure Projects (GIPL) is an infrastructure project development company incorporated by Gammon India, to participate in the development of infrastructure projects on a public private partnership (PPP) basis.
     Stock is currently trading at Rs 14.64, up by 0.33 points from its previous closing of Rs 14.31 on the BSE.

Aditya Birla Chemicals acquires Jayshree Chemicals' chlor-alkali division

BSE Code - 500057
Face value - Rs 10.00
Group - BSE 'B'
Shareholding pattern - (a)Promoters - 56.31%
                                   (b)Institutions - 18.73%
                                   (c)Non-Institutions - 24.96%
One year High-Low - Rs 313.00 - Rs 78.05
     Aditya Birla Chemicals (India) (ABCIL) has received an approval for acquisition of Chlor-Alkali Division (CAD Division) of Jayshree Chemicals (JCL) for a cash consideration of Rs 212 crore. This transaction will take the company to a higher growth trajectory.
     CAD is an environment friendly and energy efficient membrane cell facility located at Ganjam, Odisha and also has about 1600 acres of salt works in Andhra Pradesh. The current capacity of the facility is about 57,000 tons per annum. CAD is cost competitive, driven by strengths of the latest state of the art technology.
    JCL’s revenue for the year ended March 31, 2014 stood at Rs 136 crore. With this acquisition, the total caustic soda capacity of ABCIL will increase to about 355,000 tons per annum.
     Aditya Birla Chemicals (India) is one of the leading chlor-alkali manufacturing companies in India and is part of the chemicals business of the Aditya Birla group.
     Currently stock trading at Rs 305.15, up by 14.10 points from its previous closing of Rs 291.05 on the BSE.

5 scrips to be added to NSE F&O w.e.f tomorrow

5 scrips to be added to NSE F&O w.e.f tomorrow NSE says -
 Eicher Motors ,  Motherson Sumi to be added to F&O w.e.f. September 10
Mindtree , SKS Microfinance ,  TVS Motor to be added to F&O w.e.f. September 10

Stocks in News

Tata Motors Ltd: 

     Tata Motors, launched the special edition Land Rover Freelander 2. The premium SUV carries a price tag of Rs. 44.41 lakh (ex-showroom Mumbai) and will come to the Landrover showrooms in very limited numbers. 

Apollo Tyres Ltd: 

     Apollo Tyres plans to set up a new plant in Hungary at an investment of 442.2 million euros (about Rs 3,450 crore) and the investment aid given by the country's government has been cleared by European Commission. 

Lanco Infratech Ltd:

      The company which has interests in infrastructure, power and realty segments, retrenched 30 per cent of its 5,700 workforce during the last financial year due to slowdown in development of some of its projects amid subdued market conditions. 
     The company has seen its total borrowings growing by about 8 per cent during 2013-14 to Rs 36,705 crore (33,969 crore), and its staff strength coming down by 30 per cent to 4,000 people due to slowdown impacting the pace of project execution.

RIL, ONGC & BPCL:

      Reliance Industries, ONGC and Bharat Petroleum Corp (BPCL) walked away with the top honours at the annual PetroFed Oil & Gas Industry Awards here today. 

stocks in news

Cipla Ltd:

      Pharmaceutical firm announced commercial collaboration with UK-based S&D Pharma in the Czech Republic and Slovakia. In a BSE filing, Cipla said this collaboration will enable it to focus on its core therapy areas, while S&D Pharma will be the key partner for generics. 

Neyveli Lignite Ltd:

      An early end to the six-day old indefinite strike by more than 10,000 contract labourers of Neyveli Lignite Corporation looked bleak with the first round of tripartite conciliatory talks held here on Monday ending in a deadlock. 

Bharti Airtel Ltd:

      Bharti Airtel is seeking compensation from the government for the company's interest cost on money borrowed to make initial payment for airwaves it won in a February auction but are yet to be allocated. 

Venus Remedies Ltd: 

     The pharma major is eyeing $15 million revenue from its antibiotic 'meropenem' in a span of one year as it seeks to sell this drug in 50 countries including in regulated markets. 

Elder Pharmaceuticals Ltd:

      Post-Torrent deal, a much leaner and better leveraged Elder Pharmaceuticals Ltd has set in motion a process to expand its footprint in the Rs 4,000-crore dermatology segment in a big way. 

Thomas Cook Ltd: 

     Thomas Cook India has gained majority shareholding in Sterling Holiday Resorts with further acquisition of over one crore shares for Rs 116.26 crore through off-market. 

BHEL rises on receiving order from NPTI for operating training simulator

BSE Code - 500103
Face Value - Rs 2.00
Group - BSE 'A'
Shareholding pattern - (a)Promoters - 63.06%
                                   (b)Institutions - 32.52%
                                   (c)Non-Institutions - 4.42%
One year High-Low - Rs 291.50 - Rs 126.40
     National Power Training Institute (NPTI) has selected Bharat Heavy Electricals’ (BHEL’s) city-based Electronics Division for design, engineering, testing, supply, installation and commissioning of Operator Training Simulator for 800MW Super Critical Power Plant.
     The said simulator is projected to be set up at NPTI's Power Training Institute located at Faridabad in Haryana.  The company has received this order against stiff International Competitive Bidding.
     BHEL has been committed to the nation's power development programme and has reaffirmed its commitment to the Indian Power Sector by equipping itself by way of contemporary technology, state-of-the-art manufacturing facilities and skilled technical manpower.
     Current price of stock is Rs 223.90, up by 0.30 points from its previous closing of Rs 223.60 on the BSE.

Deepak Fert up 4%, arm forms JV for mining in Australia

BSE Code - 500645
Face Value - Rs 10.00
Group - BSE 'B'
Shareholding pattern -(a)Promoters - 45.46%
                                 (b)Institutions - 17.29%
                                 (c)Non-Institutions - 37.25%
One year High-Low - Rs 185.05 - Rs 87.15
     Deepak Fertilisers & Petrochemicals Corporation’s wholly owned subsidiary - Smartchem Technologies (STL), India’s leading manufacturer of mining chemicals, as a part of its forward integration initiative, has incorporated ‘Platinum Blasting Services’ as its overseas venture for Mining Services in Brisbane, Australia.
     Platinum Blasting Services is a joint venture (JV) with local Australian partners, who have vast experience in providing value added blasting services and operation expertise to the mining and explosives industries in Australia. STL will hold 65% while the local partners will hold 35% in the joint venture. The local partners collectively bring over 80 years of domain knowledge to the venture.
     Over the next two years, Platinum Blasting Services intends to make an investment of around AUD 28 million through a mix of debt and equity. Australia, which is an approximately 2 million tons per annum of expanding TAN market, will offer immense growth potential to Platinum.
     Platinum Blasting Services plans to develop a full service offering including - Technical Ammonium Nitrate (TAN) supplies; Storage and logistics; Manufacturing of Emulsion; Blast design and technical support; and Down-the-HoIe services.
     Current price of stock is Rs 172.80, up by 8.80 points from its previous closing of Rs 164.00 on the BSE.

L&T Hydrocarbon bags orders worth Rs 1920cr

BSE Code - 500510
Face Value - Rs 2.00
Group - BSE 'A'
One year High-Low - Rs 1774.70 -RS 729.60
     The Institutions and Non-Institutions held 56.18 % and 41.49 % respectively.
     L&T Hydrocarbon Engineering (LTHE), a fully-owned subsidiary of Larsen a Toubro (L&T) has secured new orders in the offshore and onshore segments worth Rs 1,920 crore from domestic oil and gas majors.
     An offshore contract valued at Rs 1,340 crore from the Oil and Natural Gas Corporation (ONGC), won against international competitive bidding, includes engineering, procurement, construction and installation of five wellhead platforms at the Mumbai High North field of ONGC. The project, part of ONGC’s strategy to re-develop Phase-III of Mumbai High North field to enhance production from existing reservoirs, is scheduled to be completed by March, 2016.
     In the onshore segment LTHE has secured a contract valued at around Rs 580 crore from a leading company engaged in hydrocarbon downstream processing. LTHE will carry out engineering, procurement and construction of a dual service cryogenic storage tank facility, suitable for liquid ethane and liquefied natural gas and engineering work for the balance of the facilities to be installed at the client’s manufacturing complex.
     Current price of stock is Rs 1625.70, up by 16.45 points form its previous closing of RS 1609.25 pm the BSE.

Pennar Industries shines on bagging orders worth Rs 132 crore

BSE Code - 513228
Face Value - Rs 5.00
Group - BSE 'B'
Shareholding pattern -(a)Promoters - 40.09%
                                 (b)Institutions - 29.90%
                                 (c)Non-Institutions - 30.01%
One year High-Low - Rs 54.90 - Rs 18.25
     Pennar Industries is engaged in the manufacturing of Cold Rolled Steel Strips (CRSS) and value-added products under Cold Rolled Formed Sections (CRFS) like precision tubes, engineered components, road safety systems, parts of railway coaches and Electro Static Precipitators (ESP).
     Pennar Industries has bagged orders worth Rs 132 crore along with its subsidiaries Pennar Engineered Building Systems (PEBS Pennar) and Pennar Enviro (PEL). The companies received orders from MRF, UltraTech Cement, Deify Infrastructure, Carldreys India, Lanco Infratech, JSW Bellary among others.
     Current price of stock is Rs 54.10, up by 3.15 points from its previous closing of Rs 50.95 on the BSE.

Bharat Forge strengthens on divesting 50% stake in Impact Automotive Solutions

BSE Code - 500493
Face Value - Rs 2.00
Group - BSE  'A'
Shareholding pattern - (a)Promoters - 46.74%
                                   (b)Institutions - 30.61%
                                   (c)Non-Institutions - 22.65%
One year High-Low - Rs 875.50 - Rs 244.00
     Bharat Forge has divested its 50 per cent stake in Impact Automotive Solutions, which was formed in 2010 as a joint venture with KPIT Technologies. The stake has been sold to KPIT Technologies for Rs 10.80 crore. The initial investment was Rs 14.91 crore. Bharat Forge is engaged in manufacturing of close die and open die forging, crankshafts, front axle beams, steering knuckle, connecting rods, rocker arm and many more components.
     Current price of stock is Rs 861.70, up by 3.30 points from its previous closing of Rs 858.40 on the BSE.

update

Venus Remedies soars as its arm ties up with Mylan

BSE Code - 526953
Face Value - Rs 10.00
Group - BSE 'B'
Shareholding pattern - (a)Promoters - 37.73%
                                   (b)Institutions - 8.69%
                                   (c)Non-Institutions - 53.58%
One year High-Low - Rs 350.00 - Rs 179.95                             
     Venus Remedies’ wholly owned subsidiary has entered into a distribution-cum-out-licensing agreement with Mylan for marketing its generic broad-spectrum antibiotic, meropenem, in three European countries. This deal with Mylan, the world’s third largest generic drug manufacturer, will enable Venus Remedies to market meropenem in Denmark, Sweden and Finland for a period of five years.
    Under this non-exclusive marketing agreement, Venus will manufacture the drug at its Baddi facility, which recently got a renewed European Union Good Manufacturing Practices (GMP) certification, while the batch release and logistics will be handled by its Germany facility Venus Pharma GmbH. The addition of territories on the basis of strategic tie-ups with its existing partners has re-established the faith of its customers in Venus’s quality standards and timely deliveries. This joint venture will further help Venus Pharma GmbH and its collaborators in maintaining their market position to figure among the top five players with around 30% share in meropenem markets in countries like Germany, France and UK.
     Venus already has a non-exclusive marketing tie-up with Mylan for the same product in France, where the drug has been successfully launched and is contributing to the company's top and bottom lines.
     Venus Remedies has secured more than 60 marketing authorisations for meropenem throughout the world from countries like the UK, France, Austria, Italy, Denmark, Finland, Ireland, Germany, Netherlands, Poland, Slovenia, Slovakia, Sweden, Portugal, Czech Republic, Cyprus, New Zealand and Mexico, among others. The company recently got its first Australian marketing authorisation for this product in tie-up with Lupin. Venus is now all set to receive marketing approvals for meropenem from Switzerland and South Africa.
     Venus Remedies is a pharmaceutical manufacturing company. The company provides formulations in area of antibiotics and oncological therapeutics. The company has two manufacturing facilities located in India and Germany. It manufactures Oncological and Cefelosporine Injectable products.
     Stock is currently trade at Rs 297.45, up by 21.75 points from its previous closing of Rs 275.70 on the BSE.

Cipla rallies over 1% on acquisition plans for Rs 100 crore

BSE Code - 500087
Face Value - Rs 2.00
Group - BSE 'A'
Shareholding pattern - (a)Promoters - 36.80%
                                  (b)Institutions - 35.86%
                                  (c)Non-Institutions - 26.23%
One year High-Low - Rs 575.20 - Rs 366.70
     Cipla’s wholly owned subsidiary - Medispray Laboratories, has received an approval for acquisition of two manufacturing undertakings. A significant portion of the capacities of the two undertakings are dedicated for the manufacture of Cipla’s products. The acquisition of the aforesaid undertakings is expected to yield operational synergies. The board of directors at their meeting held on September 05, 2014 has approved for the same.

     The consideration for the above two transactions are Rs 29 crore and Rs 71.93 crore respectively. The first manufacturing facility located at Goa is owned by Okasa and the second manufacturing facility located at Satara (Maharashtra) is owned by Okasa Pharma, the entities controlled by relatives of the promoters hold majority interest in the companies which own the aforesaid undertakings.

     Current price of stock is Rs 563.10, up by 5.80 points from its previous closing of Rs 557.30 on the BSE.

IRB Infrastructure surges on getting letter of award for MSRDC'S project

BSE Code - 532947
Face Value - Rs 10.00
Group - BSE 'A'
Shareholding pattern - (a)Promoters - 61.11%
                                   (b)Institutions - 29.17%
                                   (c)Non-Institutions - 9.72%
One year High-Low - Rs 275.50 - Rs 63.35
     IRB Infrastructure Developers has received the letter of award for the MSRDC’s project of Operation & Maintenance of Yashwantrao Chavan Expressway and Mumbai Pune section of NH-4 along with execution of additional works on Mumbai Pune section of NH-4, on DBFOT basis with toll rights in the state of Maharashtra.
     Total six bidders including the company participated in this International electronic competitive bidding process. The final offer of the Company for a concession period of 8 years 8 months and 2 days being the lowest amongst all the bidders has been accepted by MSRDC and thereby declared the company as selected bidder and issued the Letter of Award.
     IRB Infrastructure Developers undertakes development of various infrastructure projects in the road sector through several special purpose vehicles.
     Stock is currently trading at Rs 263.55, down by 2.40 points from its previous closing of Rs 265.95 on the BSE.

Punj Lloyd surges 10% on Rs 3515 crore order win

BSE Code - 532693
Face Value - Rs 2.00
Group - BSE 'B'
Shareholding pattern - (a)Promoters - 37.16%
                                   (b)Institutions - 14.21%
                                  (c)Non-Institutions - 48.63%
One year High-Low - Rs 60.85 - Rs 21.90
     Punj Lloyd provides engineering, procurement, construction (EPC) and project management services. It provides services to oil and gas, energy, infrastructure petrochemical, telecom broadband and utilities sectors, among others.
     Punj Lloyd Group, the global, diversified EPC giant has won Rs 3,515 crore RAPID Tank Farm order from PRPC Refinery and Cracker Sdn. Bhd,  a subsidiary under the Potroliam Nasional Borhad (PETRONAS) group, Malaysia’s national energy company.
     The Tank Farm is part of PETRONAS’ Refinery and Petrochemical Integrated Development (RAPID) project in Pengerang, Johor, Malaysia. Developed within a 6,242-acre site, RAPID is part of the colossal PETRONAS Pengerang Integrated Complex (PIC) development, along with RAPID's associated facilities including the Pengerang Co-generation Plant (PCP), Re-gasification Terminal 2 (RGT2), Air Separation Unit (ASU), Raw Water Supply Project (PAMER), Crude and Product Tanks (SPV2) and central and shared Utilities and Facilities (UF).
     Punj Lloyd’s scope of work in the RAPID Tank Farm project includes Project Management, design, engineering, interface with other contractors and third parties, procurement, construction, inspection and testing, pre-commissioning and commissioning. The RAPID Tank Farm will be a critical project requiring expertise in the construction of different types of tanks including storage tanks, LPG tanks, mounded bullets, Light Cracked Naphtha storage, transfer pumps and additive packages.
     Stock is currently trading at Rs 40.60, up by 3.65 points from its previous closing of Rs 36.95 on the BSE.

Infosys rallies on five-year service contract win from BP to provide IT services

BSE Code - 500209
Face Value - Rs 5.00
Group - BSE 'A'
Shareholding pattern - (a)Promoters - 15.94%
                                  (b)Insitutions - 55.66%
                                  (c)Non-Institutions - 12.23%
One year High-Low - Rs 3847.20 - RS 2894.00
     Infosys is a global leader in consulting, technology and outsourcing solutions. The company enables clients, in more than 30 countries, to stay a step ahead of emerging business trends and outperform the competition.
     Infosys, a global leader in consulting, technology and outsourcing solutions, has been selected by BP to provide IT services, in particular Application Support and Development to BP. Infosys was chosen to support BP in running, enhancing and developing business applications and improving business IT processes across all key BP IT operations.
     The agreement, which is effective from September 1, 2014, will provide IT services (in particular Application Support and Development) across BP’s operations, including corporate functions, upstream and downstream segments, energy trading and marketing. The agreement’s geographical scope includes BP’s main facilities in Houston, Texas, and in the UK, as well as support in locations as diverse as Azerbaijan, Angola, Brazil and Singapore.
     Stock is currently trading at Rs 3732.95, up by 24.90 points from its previous closing of Rs 3708.05 on the BSE.
     

Tech Mahindra hits fresh 52-week high on order win from Bombardier

BSE Code - 532755
Face Value - Rs 10.00
Group - BSE 'A'
Shareholding pattern -(a)Promoters - 36.15%
                                  (b)Institutions - 49.88%
                                  (c)Non-Institutions - 13.97%
One year High-Low - Rs 2521.80 - Rs 1259.40
     Tech Mahindra is a specialist in digital transformation, consulting and business re-engineering solutions. It is a $3.2 billion company with 92,000+ professionals across 51 countries. It provides services to 632 global customers including Fortune 500 companies.
     Tech Mahindra, specialist in digital transformation, consulting and business re-engineering has signed an agreement with Bombardier Aerospace. As part of this engagement, Tech Mahindra will provide engineering solutions to Bombardier.
     Tech Mahindra and Bombardier have signed a mutual agreement that will lead Tech Mahindra to work with Bombardier globally. Tech Mahindra plans to invest significantly in infrastructure and talent in the Montréal region. Tech Mahindra aims to grow its Canada team to 1,200 people in the next five years.
     Currenlty stock trading at Rs 2476.80, up by 11.95 points from its previous closing of Rs 2465.85 on the BSE.

Tata Motors rallies on order win under JNNURM scheme

BSE Code - 500570
Face Value - Rs 2.00
Group - BSE 'A'
Shareholding pattern - (a)Promoters - 34.33%
                                  (b)Institutions - 44.42%
                                   (c)Non-Institutions - 7.25%
One year High-Low - Rs 531 - Rs 295.50
     Tata Motors, India’s largest automobile company, is the leader in commercial vehicles in each segment, and among the top in passenger vehicles with winning products in the compact, midsize car and utility vehicle segments. It is also the world’s fourth largest truck and bus manufacturer.
     Tata Motors has bagged orders for over 2,700 ‘urban’ buses under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) - II scheme. These contracts include order from Karnataka State Road Transport Corporation (KSRTC) to supply 487 buses and another for 780 buses from HRTC (Himachal Road Transport Corporation) for Tata Marcopolo built buses.
     With these orders, Tata Motors reinforces its position as a leading partner to state transportation corporations, in providing them with the right product and service solutions, enabling them to create and maintain a sustainable public transportation system.
     Current stock price is Rs 522.65, up by 6.25 points from its previous closing of Rs 516.40 on the BSE.

Unitech to sell non-core lands to cut debt; stock up

BSE Code - 507878
Face Value - Rs 2.00
Group - BSE 'A'
Shareholding pattern - (a)Promoters - 47.81%
                                   (b)Institutions - 30.83%
                                   (c)Non-Institutions - 21.36%
One year High-Low -Rs 38.60 - Rs 10.86
     Unitech, being one of the leading real estate companies, has several business segments relating to residential, commercial, Information Technology (IT) parks, retail, amusement parks, etc, with over four decades of achievement and continues to be a prominent player with high degree of quality and affordable real estate in the Indian market space.
      In a bid to reduce debt by 15-20% and improve cash-flows for faster execution of ongoing projects, real estate firm Unitech is planning to sell non-core land. At present, the company has over 100 ongoing projects, totaling an area of 38.41 million sq ft. Its net debt stood at Rs 5,900 crore at the end of the first quarter of this fiscal.
     Earlier in June, Unitech had sold its 40% stake each in four IT SEZ projects for over Rs 1,300 crore to Canada’s Brookfield Asset Management.
     Current price of stock is Rs 24.10, up by 0.10 points from its previous closing of Rs 23.90 on the BSE.

MTNL rallies on reports of merger with BSNL

BSE Code - 500108
Face Value - Rs 10.00
Group - BSE 'B'
Shareholding pattern - (a)Promoters - 56.25%
                                   (b)Institutions - 22.05%
                                    (c)Non-Institutions - 19.86%
One year High-Low - Rs 39.10 - Rs 9.92
     The telecom department (DoT) has for the first time set a cutoff date, July 31, 2015, for concluding the much discussed merger of struggling state-run telecom companies, Bharat Sanchar Nigam Ltd and Mahanagar Telephone Nigam Ltd. 
     MTNL runs telecom services in Delhi and Mumbai while BSNL offers telecom coverage in the rest of India.
     BSNL has 61,622 mobile towers, the second largest tower portfolio among all telcos. A sizeable chunk of its tower assets are colocated with landline exchanges to meet business needs. 
     Stock is currently trading at Rs 31.15, up by 1.10 points from its previous closing of Rs 30.05 on the BSE.

Era Infra gets order from Airport Authority for Rs 314.6 crore

BSE Code - 530323
Face Value - Rs 2.00
Group - BSE 'B'
Shareholding pattern -(a)Promoters - 58.39%
                                  (b)Institutions - 8.46%
                                  (c)Non-Institutions - 33.15%
One year High-Low - Rs 153.50 - Rs 12.20

     Era Infra Engineering, incorporated in September 1990, is the flagship company of the Era Group. The company is a growing construction company with a pan-India presence and has experience in various kinds of construction projects such as power, housing, road, industrial and aviation.

     Era Infra Engineering has bagged order worth Rs 314.61 crore from Airport Authority of India (AAI). The contract is for Construction of New Integrated Terminal Building at VSI Airport, Port Blair.

     Stock is currently trading at Rs 16.55, up by 0.60 points from its previous closing of Rs 15.95 on the BSE.

Stocks in News

MT Educare Limited: 

     The Reserve Bank of India has today notified that the foreign shareholding through Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) in M/s MT Educare Limited has reached the trigger limit. 

SBI: 

     SBI today said it expects 14 to 15 per cent growth in credit off-take during the current financial year even as economic indicators are improving. 

Power Grid Corporation of India: 

     The government-owned company has mopped up close to Rs 4,500 crore in its first bond issue in the current financial year beginning April 1. In the bidding process held on Tuesday, the company has sold bonds with 5-, 10- and 15-year maturities at 9.30%. 

MTNL Ltd: 

     The telecom department (DoT) has for the first time set a cut off date-July 31, 2015-for concluding the much discussed merger of struggling state-run telecom companies, Bharat Sanchar Nigam Ltd and Mahanagar Telephone Nigam Ltd

Gammon Infrastructure Projects Ltd: 

     The Company has informed the stock exchange that its QIP (qualified institutional placement) committee of directors had approved the opening of QIP on September 1. The committee also resolved that the floor price of the issue is Rs. 13.3375 per equity share. 

Hindalco Ltd:

      It has announced to the stock exchanges that shareholders will be considering Rs 6,000 crore NCD issue in the annual general meeting (AGM). This essentially means that they have also put in a proposal to raise the borrowing limit to around Rs 20,000 crore, said media reports. 

Alstom T&D India:

      The company has bagged a contract worth Rs 55 crore for supplying power transformers in Bhutan. The company will supply 13 units of 75 MVA (megavolt ampere), 400 kV (kilovolt) generator transformers etc. 

NMDC: 

     State-run iron ore producer NMDC is in the process of acquiring 3,000 acres in Karnataka for setting up its second steel plant with an annual capacity of 3 million tonnes, at an investment of around Rs 18,000 crore. 

Stocks in News

Tata Motors Ltd: 

     Automobile major Tata Motors has received orders for over 2,700 'urban' buses under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) - II scheme. 

Unitech Ltd: 

     Real estate firm Unitech will sell non-core land parcels to reduce debt by 15-20 per cent and improve cash-flows for faster execution of ongoing projects, company's chairman Ramesh Chandra has said. 

GMR Infrastructure Ltd: 

     Sources with direct knowledge share that leading private equity firm KKR is close to providing structured debt worth Rs 1,000 crores to GMR Infrastructure's promoter entity, GMR Infra Ventures. GMR is expected to infuse this cash as equity funding in the listed company, GMR Infra, a source said. 

ONGC: 

     Pitching for a higher remunerative price for natural gas, state-owned Oil and Natural GasCorp (ONGC) has said it needs $6-7.15 to break-even on gas it plans to produce from its most prolific KG basin block. 

Maruti Suzuki India Ltd:

      Seeking to make a mark in the big car segment, the country's largest car maker Maruti Suzuki India will open bookings of its upcoming mid-sized sedan Ciaz from tomorrow. 

Pre Market

Nifty seen opening higher; may reclaim 8100 levels

     The 50-share Nifty index is expected to open higher on Wednesday following positive trend seen in other Asian markets. Benchmark indices extended gains for the fourth straight session on Tuesday and rallied more than half a percent in the end. 
     At 07:30 a.m., Nifty India stock futures in Singapore were trading 4.50 points lower at 8,130 indicating flat-to-positive opening on the domestic market 
     In the US, markets closed mixed with the S&P 500 holding above 2,000 after rising to another intraday record, as energy companies dropped along with the price of oil and investors fretted whether the European Central Bank would make further monetary policy moves this week.Asian shares were trading higher 
     Brent crude slipped to a 16-month low, falling 2.5 percent to just above USD 100 per barrel while US crude hit a 7-month low. With the dollar index at a 14-month high, a strong dollar and the prospect of slowing oil demand were seen as the key reasons for the fall. Gold too was at its lowest level since mid-July, breaking through key support as the dollar hit a one-year high against the euro.
     the bull run continued on Dalal Street with the rally pushing benchmark indices further into unchartered territory. Nifty managed to conquer the 8100 mark on an intraday basis yesterday and looks all set to make a higher high today. 

GMR Infrastructure shares up over 3 per cent on bourses

BSE Code - 532754
Face Value - Rs 1.00
Group - BSE 'A'
Shareholding pattern - (a)Promoters - 63.99%
                                   (b)Institutions - 27.17%
                                   (c)Non-Institutions - 8.84%
One year High - Low - Rs 38.30 - Rs 13.40
     GMR Infrastructure is a Bangalore headquartered global infrastructure major with interests in Airports, Energy, Highways and Urban Infrastructure sectors. It has successfully employed the public-private partnership model to build a portfolio of high quality assets.

     GMR Infrastructure has signed a Memorandum of Understanding (MoU) with Japan Bank for International Cooperation (JBIC) for providing financial assistance to Japanese companies investing in Infrastructure projects of GMR Group.

     The objective of this MOU is to provide low cost long duration financing for infrastructure development projects that involve Japanese companies in development of industrial parks, power, energy, ports, airports, highways and railway projects.

     Through a framework of this MOU between JBIC and GMR, JBIC intends to promote opportunities for Japanese companies to participate in infrastructure projects. This will serve to improve infrastructure in India and support development of the necessary foundation for Japanese companies' business activities in India. Over the next 12 months, GMR and JBIC will work on identifying projects to attract Japanese investments.

     Current stock price is Rs 26.65, up by 0.90 points from its previous closing of Rs 25.75 on the BSE.

    

Eicher Motors gains 3 per cent on robust sales figures

BSE Code - 505200
Face Value - Rs 10.00
Group - BSE 'A'
Shareholding pattern -(a)Promoters - 55.01%
                                  (b)Institutions - 24.81%
                                  (c)Non-Institutions - 20.18%
One year High-Low - Rs 10620.00 - Rs 3100.20
     Eicher Motors is one of the leading manufacturers of commercial vehicle. It has manufacturing facilities located in Madhya Pradesh, Tamil Nadu, Maharashtra, and Haryana.

     Eicher Motors has reported 66% growth in its total sales to Rs 26,643 as compared to 16,062 in August 2013. Out of total, domestic sales during the month stood at 26,121 units as against 15,708 units in the year- ago period, a surge of 66.29%. Besides, the company’s exports for the month grew by 47.45% to 522 units as against 354 units in the same month a year ago.

     Current stock price is Rs 10224.25, up by 146.25 points from its previous closing of Rs 10078.00 on the BSE.

Punj Lloyd rallies on reports of Medanta Medicity stake sale

BSE Code - 532693
Face Value - Rs 2.00
Group - BSE 'B'
Shareholding pattern - (a)Promoters - 37.16%
                                  (b)Institutions - 14.21%
                                  (c)Non-Institutions - 48.63%
One year High-Low -Rs 60.85 - Rs 20.25
     Punj Lloyd provides engineering, procurement, construction (EPC) and project management services. It provides services to oil and gas, energy, infrastructure petrochemical, telecom broadband and utilities sectors, among others.
     In a bid to cut its debt, Punj Lloyd is reportedly planning to sell its stake in Gurgaon-based multi specialty hospital Medanta Medicity Hospitals. The company will sell half of its 17% shareholding in Global Health, a company which owns, manages and operates the Gurgaon based hospital for around Rs 300 crore.
     Moreover, Singapore’s state investment company - Temasek -- is negotiating with the company to buy its minority stake in super specialty hospital -- Medanta Medicity.
     current stock price is 39.70, up by 1.85 points from its previous closing of Rs 37.85 on the BSE.

TVS Moter rallies over 4%, hits 52- week high on August sale numbers

BSE Code - 532343
Face Value - Rs 1.00
Group - BSE 'B'
Shareholding pattern -(a)Promoters - 57.40%
                                 (b)Institutions - 23.25%
                                 (c)Non-Institutions - 19.35%
One year High-Low -Rs 202.15 - Rs 28.75
     TVS Motor Company has recorded 46% increase in total sales registering 2,27,482 units in the month of August 2014 against 1,55,532 units recorded in the month of August, 2013. The company's total exports grew by 28% with sales increasing from 27,425 units in the month of August 2013 to 35,074 units in August 2014.
     The total two wheeler sales increased by 47% from 1,48,469 units recorded in August 2013 to 2,17,632 units for the month under review. Domestic two wheeler sales registered a growth of 50%, increasing to 1,90,547 units for the month under review from 1,27,095 units in the corresponding month previous year.
     Scooters sales grew by 84% at 67,240 units in August, 2014 from 36,478 units in August, 2013. Motorcycles sales grew by 36% at 83,332 units in August as compared to 61,313 on Y-o-Y basis. Further, three wheeler sales of the company registered an increase of 39%, growing from 7,063 units in August 2013 to 9,820 units in August 2014.
     Current stock price is Rs 201.30, up by 7.90 points from its previous closing of Rs 193.40 on the BSE.

Hero MotoCorp rises on reporting 21.43% rise in August sales

BSE Code - 500182
Face Value - Rs 2.00
Group - BSE 'A'
Shareholding pattern - (a)Promoters - 39.92%
                                  (b)Institutions - 41.96%
                                  (c)Non-Institutions - 18.12%
One year High-Low - Rs 2820.40 - Rs 1879.00
     Hero MotoCorp is the World’s single largest two-wheeler motorcycle company. Honda Motor Company of Japan and the Hero Group entered a joint venture to setup Hero Honda Motors in 1984. Hero Honda Motors changed its name to Hero MotoCorp following the exit of its erstwhile Japanese promoter, Honda, from the company.

   The country’s largest two-wheeler maker Hero MotoCorp has reported 21.43% rise in its total sales at 5,58,609 units in August 2014 as compared to 4,59,996 units sold in the same month last year.

    Moreover, the company will keep up with the growth momentum for the festive season with as many as 10 new launches, including new models, upgrades and refreshes during this period.

     Current price of share is Rs 2801.65 , up by 42.40 points from its previous closing of Rs 2759.25 on the BSE.

Cipla surges on launch of anti-asthma inhaler in Germany, Sweden

BSE Code - 500087
Face Value - Rs 2.00
Group - BSE 'A'
Shareholding pattern - (a)Promoters - 36.80%
                                       (b)Institutions - 35.86%
                                       (c)Non-Institutions - 26.23%
One year High-Low - Rs 575.20 - Rs 366.70
     Cipla has emerged as one of the most respected pharmaceutical names in India as well as across more than 170 countries. Its portfolio includes 2000 products in 65 therapeutic categories with one quality standard globally.
     Cipla, a global pharmaceutical company, has launched Serroflo, its Salmeterol/Fluticasone MDI, in Germany and Sweden. With this launch, Cipla opens the door for new, highly efficient treatments in the European healthcare market. Serroflo will substantially improve the affordability of Fixed Combinations in Europe and help manage health costs for respiratory treatment.
     In Germany the new product is distributed under the name ‘Serroflo’, whereas in Sweden the combination is launched as ‘Salmeterol/Fluticasone Cipla’. Serroflo and Salmeterol/Fluticasone Cipla will be available in a pMDI with HFA propellant in two strengths - 120 doses of 25/125 mcg salmeterol/fluticasone and 120 doses of 25/250 mcg salmeterol/fluticasone.
     Current stock price is Rs 557.40, up by 27.70 points from its previous closing of Rs 529.70 on the BSE.

M & M plan to invest Rs 4.000 crore for expansion of Chakan plant

BSE Code - 500520
Face Value - Rs 5.00
Group - BSE 'A'
Shareholding patterns -(a)Promoters - 25.25%
                                   (b)Institutions - 54.77%
                                   (c)Non-Institutions - 14.90%
One year High-Low - Rs 1418 - Rs 749
     In a bid to expand its existing facility at Chakan in Maharashtra, Mahindra & Mahindra (M&M) is planning to invest Rs 4,000 crore over a 7-year period. The fresh infusion would take the company’s total investment in Chakan to Rs 8,000 crore.
     A total of Rs 4,000 crore will be utilised towards infrastructure development, product development and capacity expansion for vehicles to be rolled out from the Chakan plant.
     Earlier, the company had decided to put on hold all investment at its Chakan plant due to VAT refund issues with Maharashtra Government.
     Mahindra & Mahindra (M&M) is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.
     Stock is currently trading at Rs 1405.70, down by 1.15 points from its previous closing of Rs 1406.85 on the BSE.

Bharti Airtel gains as arm inks definitive agreement with Essar Telecommunications Kenya

 

  Bharti Airtel is a leading integrated telecommunications company with operations in 20 countries across Asia and Africa. The company ranks amongst the top 5 mobile service providers globally in terms of subscribers.
     Bharti Airtel’s Airtel Networks Kenya has signed a definitive agreement with Essar Telecommunications Kenya which operates under the brand name ‘yuMobile’, to acquire its over 2.7 million subscribers. The company has taken this step pursuant to approval from the Communication Authority (CA) of Kenya. This transaction is subject to approval from Competition Authority of Kenya (CAK) and is likely to be concluded by fourth quarter of 2014.
     Airtel Networks Kenya is a wholly owned subsidiary of Bharti Airtel International Netherlands BV, an arm of Bharti Airtel.
     Stock is currently trading at Rs 376, up by 6.30 points from its previous closing of Rs 369.70 on the BSE.

Wockhardt Ltd rallies on receiving QIDP status for two drugs

BSE Code - 532300
Face Value - Rs 5
Group - BSE'A'
Shareholding Pattern - (a)Promoters - 74.53%
                                   (b)Institutions - 8.51%
                                   (c)Non-Institutions - 16.82%
One year High-Low - Rs 847.95 - Rs 336.60
     Drug maker Wockhardt has received Qualified Infectious Disease Product (QIDP) status from the US health regulator -- US Food and Drug Administration (USFDA) -- for two of its anti-infective drugs WCK 771 and WCK 2349. This is the first instance of an Indian pharmaceutical company receiving QIDP status.
     These drugs will be entering their global Phase-3 clinical trials early next year. QIDP status is granted to drugs which act against pathogens which have a high degree of unmet need in their treatment and are identified by the Centre for Disease Control, USA, a top US government health and safety body.
     WCK 771 is an intravenous (IV) drug while WCK 2349 is a solid oral tablet. Both act against Methicillin-resistant Staphylococcus Aureus (MRSA), which causes a range of diseases from skin infection to severe respiratory infections.
     Wockhardt is one of the few companies with end to end integrated capabilities for its products, starting with the manufacture of the oral and sterile API’s, the dose forms and marketing through wholly owned subsidiary in the US, enabling the company to capture maximum value.
     Stock is currently trading at Rs 714.45, up by 23.95 points from its previous closing of Rs 690.50 on the BSE.

Indraprashta Gas soars on entering into SPA to acquire upto 5 crore equity shares of MNGL

BSE Code - 532514
Face Value - Rs 10.00
Group - BSE 'A'
Shareholding Pattern -(a)Promoters - 45.00%
                                  (b)Institutions - 36.65%
                                  (c)Non-Institutions - 18.35%
One year High-Low - Rs 393.75 - Rs 238.85
     Indraprastha Gas has signed Share Purchase Agreement (SPA) to acquire upto 50,000,000 equity shares of Rs 10 each of Maharashtra Natural Gas (MNGL) at a price of Rs 38 per equity share from certain financial investor shareholders of MNGL in such a manner so that upto completion of the proposed transaction the Company's shareholding in MNGL shall not exceed 50% of the issued, subscribed and paid up share capital of MNGL. MNGL is in City Gas Distribution business in Pune in the State of Maharashtra.
     Indraprastha Gas, incorporated in 1998, is engaged in distribution of Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) in Delhi. In 1999 the company took over Delhi City Gas Distribution Project from GAIL (India). IGL laid the network for the distribution of natural gas in the National Capital of Delhi to consumers in the domestic, transport, and commercial sectors.
     Stock is currently trading at Rs 392.15, up by 13.85 points from its previous closing of Rs 378.30 on the BSE.

Piramal Enterprises surges of entering into joint venture with Navin Fluorine International

BSE Code - 500302
Face Value -  Rs 2.00
Group -  BSE 'A'
Shareholding pattern -  (a)Promoters - 52.91%
                                   (b)Institutions - 30.41%
                                   (c)Non-Institutions - 16.68%
One year High-Low - Rs 791- Rs 482.65

     Piramal Enterprises (PEL), one of India’s largest diversified companies, and Navin Fluorine International, a Arvind Mafatlal Group Company, have agreed to form a joint venture company (JVC) to develop, manufacture and sell specialty Fluorochemicals with specific focus on applications in healthcare.
     Piramal Enterprises will hold 51% of the equity share capital of the proposed Joint Venture Company and the remaining 49% will be held by Navin. In the first phase of development, the JVC is expected to invest around Rs 120 crore in India.
     The strategic joint venture leverages Navin’s fluorochemicals capabilities and Piramal’s strong presence in healthcare. With the increasing importance of fluorine in life sciences, there is a considerable potential to exploit synergies between the two companies.
     Piramal Enterprises is one of India’s largest diversified companies, with a presence in pharmaceutical, financial services and healthcare information management sectors.
     Piramal Enterprises is currently trading at Rs 692.80, up by 12.65 points from its previous closing of Rs 680.15 on the BSE.