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.