Lupin completes acquistion of Pharma Dynamics in South Africa

The stock has hit a high of Rs. 1,895 and a low of Rs. 1,863 on BSE today.

Shares of Lupin Ltd were trading lower at Rs.1,873 on BSE today. Lupin has entered into an agreement to acquire the balance 40% equity stake in South African generics major, Pharma Dynamics (PD) from its founders. 

The stock has hit a high of Rs. 1,895 and a low of Rs. 1,863 on BSE today.

Total traded quantity on the counter stood at over 0.59 lk shares on BSE.

Meanwhile, the benchmark BSE Sensex is trading at 28,444 down 59 points 

Sensex, Nifty flat ahead of WPI data

The volatility index has jumped nearly 2 per cent. CNX Metal index is the top loser. 

The market is trading in a thin range as investors are cautious ahead of wholesale price index (WPI)-based inflation data due at 12:30 pm today.

The BSE Sensex so far has moved in a range of 162-odd points and now is down 50 points at  28,454.

Similarly, the NSE Nifty so far has touched a high and a low at 8,664 and 8,620, respectively. Now, the 50-scrip index of the NSE is down 14 points at 8,634.



The India VIX - volatility index has jumped 1.8 per cent at 15.2350.

HDFC is the major dragger, which has accounted for a loss of 49 points for the BSE Sensex and 13 points for the NSE Nifty.

CNX Metal index is the top loser - down 1.2 per cent after the media reported that the government will begin issuing ownership rights on 23 March for the coal blocks that have been auctioned so far.

In metal space, Sesa Sterlite is the top loser - down 3.8 per cent at Rs. 188. NMDC has tumbled 3.1 per cent at Rs. 127.

Jindal Steel has dropped 2.6 per cent at Rs. 182. SAIL, Hindalco, Bhushan Steel and Tata Steel are some of the notable losers.

Nifty hovers around 8,650

The Midcap and Smallcap indices are down 0.2-0.4 per cent each at 10,769 and 11,167, respectively. 

The market is trading on a cautious note in morning deals, ahead of Federal Reserve meet outcome this Wednesday.

At 10:38 AM, the BSE Sensex is down 24 points at 28,480 and the NSE Nifty is down at 8,638.

The broader market are also in the negative zone, the Midcap and Smallcap indices are down 0.2-0.4 per cent each at 10,769 and 11,167, respectively.




Among sectors, the BSE Metal index has shed almost a per cent at 9,615. The Power and Oil & Gas indices have declined over 0.5 per cent each at 2,201 and 9,357, respectively.

On the other hand, the IT index has spurted around a per cent at 11,708 and the Bank Nifty is up 0.3 per cent at 21,593.

The breadth is negative in morning deals - out of 2,181 stocks so far traded on the BSE 1,235 stocks have declined, while 843 stocks have declined.

In the Metal space - Jindal Steel has cracked 3 per cent at Rs. 180. Sesa Sterlite has plunged around 3 per cent at Rs. 190. NMDC also slipped 2.5 per cent at Rs. 128.

SAIL, Hindustan Zinc and Hindalco are the other significant losers.

On the other hand, Coal India and National Aluminium are the only gainers, up 0.3-0.6 per cent each at Rs. 366 and Rs. 47.50, respectively.

DLF says not in talks with Blackstone Group

The Company, during its normal course of business, keeps exploring various opportunities to enhance shareholder value, which includes M&A, divestment of assets and fund raising opportunities. 

The Exchange had sought clarification from DLF Ltd with respect to news article appearing on The Economic Times on March 13, 2015 titled "Blackstone Looks to Buy up to 40% in DLF's Cybercity"

DLF Ltd replied stating "We would like to clarify that we are not in dialogue with Blackstone Group or any other entity with respect to the sale of 40% equity of Gurgaon DLF Cybercity as articulated in the aforesaid article.

The Company, during its normal course of business, keeps exploring various opportunities to enhance shareholder value, which includes M&A, divestment of assets and fund raising opportunities.

We would keep exchanges informed in case of any specific developments and the Company shall continue to do so as part of its obligation under Clause 36 of Listing Agreement."

Dublin calling! UTI MF to raise US$300 mn in April

The govt has laid out the agenda for the next three years which will undoubtedly bring back the capital investment into the country and create opportunities for foreign investors, said Puri.

UTI Mutual Fund is reportedly gearing to raise $300 million in Dublin in April.

“We are launching offshore equity fund in Dublin to raise $300 million. The approval process is going on and it would likely be launched in April,” Leo Puri, Managing Director of UTI, was quoted as saying by PTI.

“The government has laid out the agenda for the next three years which will undoubtedly bring back the capital investment into the country and create opportunities for foreign investors,” Puri reportedly said.

Indian Rupee: Cautious Start To Week

Indian Rupee: Cautious Start To Week

Dollar reversed some of its early decline against the euro is likely to weigh on the Indian rupee at the start of the new week as investors trade cautiously ahead of this week's expected statement from the US Federal Reserve. Rupee ended weaker at 62.96 per dollar on Friday, as against its previous close of 62.50.

Broad based decline was witnessed on the bourses on Friday after the latest data showed acceleration in consumer price inflation last month. The barometer index, the S&P BSE Sensex, and the 50-unit CNX Nifty, both, hit their lowest closing level in more than four weeks. The Sensex lost 427.11 points or 1.48% to settle at 28,503.30.

India's exports contracted last month by over 15% to US$ 21.54 billion, while imports also fell by as much leaving a lower trade deficit of US$ 6.84 billion. With imports slowing down, mainly on account of lower crude oil prices, the trade deficit declined to US$ 6.84 billion. The deficit, which reflects higher imports than exports, was US$ 8.32 billion in January. The merchandise exports were US$ 25.35 billion in February 2014. Imports during February were valued at US$ 28.39 billion, while it was US$33.66 billion in the year-ago month, down 15.60%.

On the global front, consumer sentiment in the US unexpectedly deteriorated in the month of March, according to the preliminary results of a survey by the University of Michigan. The report showed that the consumer sentiment index tumbled to 91.2 in March from the final February reading of 95.4. The drop in consumer optimism was seen among lower and middle income households, while confidence improved among households with incomes in the top third. Russia's central bank reduced interest rates for the second time this year and signaled more easing in coming time.

Crude oil slumped nearly five per cent on significant demand worries. A monthly report from the International Energy Agency raised concerns about the global crude oil glut. Massive strength in the US dollar also hurt sentiments. Gold edged up marginally on support around four month lows.

In the global currency market, the euro sank to a fresh 12-year low early on Monday after a recent bounce was met with fresh selling interest in a sign that investors were still very bearish on the common currency.