Torrent Pharma marginally up on FDA nod for Celebrex

The company has received US FDA nod for generic of Pfizer's Celebrex

Shares of Torrent Pharma plunged in early trades despite the company receiving US FDA nod for generic of Pfizer's Celebrex. The company’s shares are currently trading 0.22% higher at Rs. 1,463.65 on BSE.

The scrip opened higher at Rs. 1,480 as against its previous close of Rs. 1,460.40. It hit a high and a low of Rs. 1,494.95 and Rs. 1,459 respectively. So far, total 13,000 shares have changed hands on BSE. 

The scrip opened at Rs. 1480 and has touched a high and low of Rs. 1494.95 and Rs. 1459 respectively. So far 129619(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 24712.89 crore.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1720 on 01-Sep-2015 and a 52 week low of Rs. 1033 on 27-Feb-2015. Last one week high and low of the scrip stood at Rs. 1483.5 and Rs. 1450 respectively.

The promoters holding in the company stood at 71.25 % while Institutions and Non-Institutions held 18.46 % and 10.3 % respectively.

The stock is currently trading above its 100 DMA.

HDFC Standard Life IPO in 2016 second half?

Keki Mistry said "At this moment, it is difficult to pin down the timing. Because we will have to sit with our partner Standard Life and decide the exact timing. "

HDFC Standard Life is planning an initial public offering in second half of 2016, Keki Mistry, VC & CEO, HDFC was quoted as saying. 

In an interaction to ET, Keki Mistry said, "At this moment, it is difficult to pin down the timing. Because we will have to sit with our partner Standard Life and decide the exact timing. "

The Foreign Investment Promotion Board (FIPB)  allowed the UK-based Standard Life, HDFC's partner in the insurance JV, to hike its stake to 35%.

Indian crude oil basket price at US$33.36/bbl on December 30

The international crude oil price of Indian Basket as computed/published by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 33.36 per barrel (bbl) on 30.12.2015. This was higher than the price of US$ 33.35 per bbl on previous publishing day of 29.12.2015.

The international crude oil price of Indian Basket as computed/published by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 33.36 per barrel (bbl) on 30.12.2015. This was higher than the price of US$ 33.35 per bbl on previous publishing day of 29.12.2015.

In rupee terms, the price of Indian Basket increased to Rs 2215.77 per bbl on 30.12.2015 as compared to Rs 2213.52 per bbl on 29.12.2015. Rupee closed weaker at Rs 66.42 per US$ on 30.12.2015 as against Rs 66.37 per US$ on 29.12.2015. The table below gives details in this regard:

Particulars	Unit	Price on December 30, 2015 (Previous trading day i.e. 29.12.2015)	Pricing Fortnight for 16.12.2015 (Nov 27 to Dec 11, 2015)
Crude Oil (Indian Basket)	($/bbl)	33.36             (33.35)	39.02
	(Rs/bbl	2215.77         (2213.52)	2603.80
Exchange Rate	(Rs/$)	66.42             (66.37)	66.73

Parag Milk gets SEBI approval for IPO

Report says that the public issue consists of fresh issue of equity shares worth Rs. 325 crore and an offer for sale of up to 19,850,000 equity shares.

Dairy firm Parag Milk Foods has received Sebi’s approval to raise an estimated Rs.1,200 crore through an initial public offering, according to reports.

Report says that the public issue of Parag consists of fresh issue of equity shares worth Rs. 325 crore and an offer for sale of up to 19,850,000 equity shares.

The proceeds of the issue will be utilised for expansion and modernisation.

The issue is being managed by Kotak Mahindra Capital, JM Financial Institutional Securities, IDFC Securities and Motilal Oswal Investment Advisors, says report.

​IPO market to see healthy growth in 2016: ​Sebi Chairman UK Sinha

"You might have noticed that the time taken by Sebi in providing its observations has come down substantially," Sinha said.

Securities and Exchange Board of India chairman UK Sinha expects the market for initial public offering to be robust in 2016, helped by the regulator's initiatives such as allowing companies to launch IPOs in an electronic form. 

"You might have noticed that the time taken by Sebi in providing its observations has come down substantially," Sinha said.

The e-IPO rules will come into effect January 1.

Under these, applications for shares from all types of investors have to be supported by a bank account. 

New AIF to help Govt raise resources for infra boost

The government will invest Rs. 20,000 crore into the NIIF from the budget, with another Rs. 20,000 crore expected to come from private investors.

In yet another major push to boost the infrastructure sector, the government has set up a Rs 40,000 crore National Investment and Infrastructure Fund in the form of a Category II alternative investment fund, which is primarily aimed at pooling funds from international pension funds and sovereign wealth funds from countries such as Russia, Singapore and the UAE for use in India's fledgling infrastructure sector.

India faces a massive infrastructure deficit, which requires some $1 trillion spending during the 12th Five-Year Plan period, which runs from 2012 to 2017. The need is especially acute in India, where infrastructure development has lagged woefully behind that of the economy.

The World Economic Forum in its Global Competitiveness Report 2013–2014, ranked India’s overall infrastructure at 85th out of 148 countries. In comparison, China ranked 74th, Sri Lanka clinched the 54th spot, Thailand came in 61st and Iran ranked higher at 76th. The fact that 65 per cent of all the freight in India is still transported by road and the average speed of trucks and buses is a crawling at 30–40 km an hour goes on to show the abysmal infrastructure deficit in the country.

The government announced a significant increase of Rs 70,000 crore in infrastructure investment in last year's budget with a focus on railways and roads. The government created an additional public investment outlay of Rs 1.25 lakh crore for this infra push, and even frontloaded much of this investment in a desperate bid to fuel the engines of growth in the economy and kick off the capex cycle.

The government has also tried to ease the policy hurdles and brought in a series of reforms such as the new Land Acquisition Act to facilitate faster implementation of projects. But the huge amount of resources required for the infrastructure push was still hard to come by.

It is in this backdrop that the government decided to float the infra fund that will pool in resources of several sovereign funds and pension funds across the world, especially from Singapore, UAE (United Arab Emirates), UK and Russia, which have expressed their willingness to participate and cooperate in various manners with the NIIF.

Sovereign wealth funds of Abu Dhabi Investment Authority, Russian Direct Investment Fund, Singapore’s Government Investment Corporation and Temasek are also said to be keen on investing in the new infrastructure fund. The infra fund is meant to fund development of infrastructure projects, including reviving the stalled ones.

The government will invest Rs 20,000 crore into the NIIF from the budget, with another Rs 20,000 crore expected to come from private investors. The government's share of the infra fund corpus is envisaged to be under 50 per cent.

Sensex, Nifty choppy; oil & gas, power drag

The BSE Mid-cap Index is trading up 0.28% at 11,135, whereas BSE Small-cap Index is trading up 0.29% at 11,813. The India VIX (Volatility) index is down 1.20% to 14.1755. Out of 1,747 stocks traded on the NSE, 455 declined and 898 advanced today.

At 9:28 AM, the S&P BSE Sensex is trading at 25,976 up 16 points, while NSE Nifty is trading at 7,902 up mere five points.

The BSE Mid-cap Index is trading up 0.28% at 11,135, whereas BSE Small-cap Index is trading up 0.29% at 11,813.

Some buying activity is seen in pharma, IT, consumer durable,metal and teck sectors, while oil & gas, power, capital goods, banking and utilities sectors are showing weakness on BSE.

Dr. Reddy's Lab, Coal India, HDFC Bank, Infosys, HDFC, Lupin, Sun Pharmaceuticals, Tata Motors and M&M are among the gainers, whereas HUL, ONGC, NTPC, Axis Bank, BHEL, Adani Ports, L&T and Maruti Suzuki are losing sheen on BSE.

The India VIX (Volatility) index is down 1.20% to 14.1755. Out of 1,747 stocks traded on the NSE, 455 declined and 898 advanced today.

A total of 32 stocks registered a fresh 52-week high in trades today, while six stocks touched a new 52-week low on the NSE.

Indian rupee opened at 66.45/$ lower by 6 paise in early trade on Thursday as against the previous close of 66.38/$. Indian rupee pared initial losses and settled with marginal gains against the greenback. Indian rupee is deriving some support from falling oil prices and ensuing mitigation of India’s current account deficit.

Welspun Enterprises gets Delhi-Meerut order for Rs.841.50 crore

Under HAM, the company will develop Package I (of 8.716 km length) of the Delhi – Meerut Expressway at a Bid Project Cost of Rs.841.50 crore, and operate it for a period of 15 years.

Welspun Enterprises has been awarded with Package I of the Delhi-Meerut Expressway Project to be developed through Hybrid Annuity Model (HAM) from NHAI. Under HAM, the company will develop Package I (of 8.716 km length) of the Delhi – Meerut Expressway at a Bid Project Cost of Rs.841.50 crore, and operate it for a period of 15 years. 

Welspun Enterprises Ltd ended at Rs. 61.1, up by Rs. 0.4 or 0.66% from its previous closing of Rs. 60.7 on the BSE.

The scrip opened at Rs. 62 and touched a high and low of Rs. 62.55 and Rs. 60.75 respectively. A total of 375906(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 1058.99 crore.

The BSE group 'B' stock of face value Rs. 10 touched a 52 week high of Rs. 79.1 on 05-Aug-2015 and a 52 week low of Rs. 24.6 on 21-Jan-2015. Last one week high and low of the scrip stood at Rs. 63 and Rs. 56.45 respectively.

The promoters holding in the company stood at 37.56 % while Institutions and Non-Institutions held 17.13 % and 37.34 % respectively.

The stock traded below its 100 DMA.

NSE, BSE to add 4 companies in F&O segment from Jan 1

The stocks which will be introduced in the future & option segment from Friday are Jet Airways, Torrent Pharma, Concor and Godrej Consumer.

Four stocks will be introduced in F&O segment from January 1, 2016.

The stocks which will be introduced in the future & option segment from Friday are Jet Airways, Torrent Pharma, Concor and Godrej Consumer. 

Weak start! Rupee opens at 66.45/$

Indian rupee pared initial losses and settled with marginal gains against the greenback. Indian rupee is deriving some support from falling oil prices and ensuing mitigation of India’s current account deficit.

Indian rupee opened at 66.45/$ lower by 6 paise in early trade on Thursday as against the previous close of 66.38/$. Indian rupee pared initial losses and settled with marginal gains against the greenback. Indian rupee is deriving some support from falling oil prices and ensuing mitigation of India’s current account deficit.

On global macroeconomic front, IMF chief Christine Lagarde stated that global economic growth will be disappointing next year due to the probability of further hike in US interest rates and economic slowdown in China. She also expressed concerns over slowdown in global trade growth and persistent decline in commodity prices which has aggravated problems for commodity export oriented economies. Stronger US dollar has also led to problems for companies with dollar denominated debt in emerging markets. Lagarde echoed the need for loose monetary conditions to remain intact.

On Wednesday, Indian rupee ended at 66.38/$, higher by 1 paise. The currency touched a high and low of 66.65 and 66.67 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.42 and for Euro stood at 72.60 on December 30, 2015. While, the RBI’s reference rate for the Yen stood at 55.17, the reference rate for the Great Britain Pound (GBP) stood at 98.5471.
 

AGMs of the day: Amtek Auto, Opto Circuits

Check out the companies whose AGMs are expected today. These include Amtek Auto, Opto Circuits (India), Accentia Technologies, Noida Medicare Centre and Advanced Micronic Devices.

Check out the companies whose AGMs are expected today. These include Amtek Auto, Opto Circuits (India),  Accentia Technologies, Noida Medicare Centre,  Advanced Micronic Devices, Aftek, RCL Foods,  RCL Retail, Castex Technologies, Rr Financial Consultants, Ensa Steel Industries, Sirpur Paper Mills, Invicta Meditek, Spisys, K.S.Oils, Sterling International Enterprises, KBS India, Swarnajyothi Agrotech & Power, MSL Industries And VSF Projects.

Wipro in final stages to acquire Drivestream

Earlier this year, Wipro announced it had invested $5 million in Drivestream.

Wipro is in the final stages of acquiring Drivestream, a management and IT consulting firm, according to reports..

Headquartered in Washington, DC, Drivestream provides Oracle-based cloud services across sectors ranging from insurance, healthcare to telecom.

Earlier this year, Wipro announced it had invested $5 million in Drivestream through its venture capital arm, Wipro Ventures.

Wipro also announced the acquisitions of US-based Viteos Group for $130 mn.

Wipro Ltd ended at Rs. 558.2, down by Rs. 5.35 or 0.95% from its previous closing of Rs. 563.55 on the BSE.

The scrip opened at Rs. 564.1 and touched a high and low of Rs. 567.75 and Rs. 556 respectively. A total of 529675(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 137896.01 crore.

The BSE group 'A' stock of face value Rs. 2 touched a 52 week high of Rs. 676.9 on 11-Mar-2015 and a 52 week low of Rs. 512.55 on 24-Apr-2015. Last one week high and low of the scrip stood at Rs. 567.9 and Rs. 554.5 respectively.

The promoters holding in the company stood at 73.36 % while Institutions and Non-Institutions held 15.29 % and 9.38 % respectively.

The stock traded above its 200 DMA.

Amtek pledges 71% stake in JMT Auto

The promoter group held 71.73% in JMT Auto.

The promoters of JMT Auto Ltd,part of the troubled Amtek Group  have pledged 71.73% of the company’s shares to IL&FS Trust Co. Ltd, according to reports.

Report says that as per the shareholding pattern disclosed by the company on 15 October, the promoter group held 71.73% in JMT Auto.

The Amtek Auto group has been under stress due to an increase in debt obligations.

In September, the company failed to repay Rs.800 crore worth of bonds.

Amtek Auto Ltd ended at Rs. 49.95, down by Rs. 1.2 or 2.35% from its previous closing of Rs. 51.15 on the BSE.

The scrip opened at Rs. 51 and touched a high and low of Rs. 51.5 and Rs. 49.5 respectively. A total of 3202038(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 1122.65 crore.

The BSE group 'A' stock of face value Rs. 2 touched a 52 week high of Rs. 186.95 on 05-Jan-2015 and a 52 week low of Rs. 25.6 on 04-Sep-2015. Last one week high and low of the scrip stood at Rs. 54.1 and Rs. 49.5 respectively.

The promoters holding in the company stood at 49.99 % while Institutions and Non-Institutions held 20.93 % and 29.08 % respectively.

The stock traded below its 200 DMA.

Amtek Auto, SBT, Lanco Infra among 12 Stocks in focus today

Check out the companies which will be in focus during trade today based on recent and latest news developments.

Wipro: Wipro is in the final stages of acquiring Drivestream, a management and IT consulting firm, according to reports.

Amtek Auto: The promoters of JMT Auto Ltd, part of the troubled Amtek Group  have pledged 71.73% of the company’s shares to IL&FS Trust Co. Ltd, according to reports. 

GIC Housing Finance: GIC Housing Finance will acquire up to 16 per cent stake in LIC Nomura Mutual Fund Asset Management Company for Rs 22.68 crore, as per media reports.

SpiceJet: The airline company has announced 4-day ticket sale, offering one-way base fares starting at Rs.716 (excluding taxes). The sale will be open till midnight, December 31, 2015.

Aurobindo Pharma: The pharma company has received USFDA approval for generic Angiomax, as per media reports.

Monnet Ispat & Energy Ltd: The company has announced that a meeting of Allotment Committee is proposed to be held on December 31, 2015 to consider and approve the Conversion of loan into Equity shares pursuant to invocation of SDR scheme by Joint Lenders Forum and Conversion of loan into Equity shares in terms of decision of Joint Lenders Forum as a part of Corrective Action plan.

Lanco Infrastructure Ltd: The company has announced that its Board has approved issuance of CCDs worth Rs. 350 Cr on Preferential basis to IDFC Bank.

Prakash Steelage: Prakash Steelage said Spain's Tubacex SA has completed acquisition of a majority 67.5 per cent stake in its seamless stainless steel tubes division.

State Bank of Travancore: The bank has approved the raising of up to Rs. 1,250 Crores by way of issue of Basel III compliant Tier II Bonds.
Photoquip India: The company board approved sale of the general lighting division of the company under the brand name Corvi to Corvi Led Pvt Ltd.
 
Dr Reddy’s Lab:  The pharma company announced the relaunch of Esomeprazole Magnesium capsules in US.

Srei Infrastructure Finance Ltd: The company offloaded 57.38 lakh shares in Pipavav Defence and Offshore Eng Ltd for Rs. 51.34 crore through an open market transaction.

Gulf Oil Lubricants: The company has launched new entry level synthetic engine oil in the passenger car segment, Gulf Ultrasynth X.
 
Steel Strips Wheels Ltd: Steel Strips Wheels has commissioned a State of the Art wider Hot Rolled Coils Slitting Line covering all the grades of Mild Steel and High Tensile Steel with a maximum width of 1650  mm and thickness  in the  range of 2mm to 8 mm.