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.