Dishman Pharma surges 13%

The company has been awarded manufacture of SIRTURO (bedaquiline) API.

Dishman Pharmaceuticals and Chemicals Ltd is currently trading at Rs. 299, up by 13% from its previous closing of Rs. 264.2 on the BSE.

The company has been awarded manufacture of SIRTURO (bedaquiline) API.

The scrip opened at Rs. 260.9 and has touched a high and low of Rs. 292.8 and Rs. 260 respectively. So far 3366992 shares were traded on the counter. The current market cap of the company is Rs. 2132.09 crore.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 274.45 on 22-Sep-2015 and a 52 week low of Rs. 102.55 on 17-Dec-2014. Last one week high and low of the scrip stood at Rs. 274.45 and Rs. 242.35 respectively.

The promoters holding in the company stood at 61.4 % while Institutions and Non-Institutions held 18.4 % and 20.2 % respectively.

The stock is currently trading below its 50 DMA.

TCS Introduces Smart City Accelerator Solution

The solution, which will be made available through strategic partnerships with the Digital Software & Solutions group, offers customized city data models for the accelerated deployment of smart city programs.

Tata Consultancy Services has announced its Digital Software & Solutions (DS&S) group has released ‘Intelligent Urban Exchange (IUX),’ a powerful analytics-based software solution for intelligent city operations to help address growing expectations of digitally connected, urban citizens.

The solution, which will be made available through strategic partnerships with the Digital Software & Solutions group, offers customized city data models for the accelerated deployment of smart city programs. It collects and analyzes data from multiple sources, including networks, sensors, social media, and open city data, and applies real-time analytics to deliver insights for city officials to help increase citizen satisfaction.

“We are pleased to already be engaging with key partners in intelligent city projects to bring TCS IUX into the market, improve operational efficiency and generate new revenue streams for cities that will directly benefit citizens’ quality of life,” said Seeta Hariharan, General Manager and Group Head of TCS’ DS&S group. “Our strategic partners are already finding value with the solution to leverage data within and across domain specific applications and develop local apps that will accelerate smart city programs, provide a flexible platform to fuel future growth, and create a more enjoyable experience for urban dwellers.”

According to Frost & Sullivan, the smart city market is likely to be worth $1.5 trillion by 2020 and more than 60 percent of urban citizens will have full access to eServices in the next decade. With this heightened level of opportunity and citizen expections, innovation and investment in intelligent city digital technologies and services will focus on improving public services and quality of life for urban citizens.

The first available application on the TCS IUX solution is for transportation and delivers a comprehensive analytic application for city transport administrators and bus operators to improve ridership, service levels and fleet utilization. It includes real-time insight and trend analysis of passenger demand and service parameters, such as wait times, queue build-up, ridership, and revenue realization across various routes and schedules to create adaptive planning for more effective public transportation services. Future IUX applications will focus on urban utilities, such as Intelligent Water to promote conservation, and support partners to address issues in water loss, leakage and infrastructure upgrades to ensure safe and reliable delivery of water to communities.

Motherson Sumi slips 3%

One of the company’s key clients Volkswagen had used illegal software to alter the emission test results in its diesel cars to clear stringent US norms, which could result in the German automaker facing penalties upto $18bn.

Motherson Sumi Systems Ltd is currently trading at Rs. 235, down by 3% from its previous closing of Rs. 241.95 on the BSE. 

One of the company’s key clients Volkswagen had used illegal software to alter the emission test results in its diesel cars to clear stringent US norms, which could result in the German automaker facing penalties upto $18bn.

The scrip opened at Rs. 230 and has touched a high and low of Rs. 242 and Rs. 228.25 respectively. So far 7578661 shares were traded on the counter. The current market cap of the company is Rs. 32007.06 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 396 on 06-Aug-2015 and a 52 week low of Rs. 234.67 on 17-Oct-2014. Last one week high and low of the scrip stood at Rs. 291.2 and Rs. 238.95 respectively.

The promoters holding in the company stood at 65.59 % while Institutions and Non-Institutions held 23.8 % and 10.61 % respectively.

The stock is currently trading above its 100 DMA.

Pidilite to expand into emerging Asian, African markets

Pidilite is planning to set up similar experience centres in other major Indian cities also, and the next store will be opened in Kochi in about two months.

The Construction Chemicals Division (CCD) of Pidilite Industries Ltd. will expand its operations in the emerging Asian and African markets.

“We are planning to acquire well managed businesses that will help us expand our business locally,” Group CEO for CCD Sanjay Bahadur told reporters in Chennai on the sidelines of the launch of the Dr. Fixit Experience Centre.

At present, the company has wholly-owned subsidiaries in Thailand, the UAE and Singapore.

The Dr. Fixit Experience Centre aims to spread awareness and provide access to latest waterproofing solutions for architects, builders and contractors.

The Centre will act as a platform for knowledge sharing and train people by engaging with experts.

Pidilite is planning to set up similar experience centres in other major Indian cities also, and the next store will be opened in Kochi in about two months.

The stock is currently trading at Rs. 558, up by 5.45 points or 0.99% from its previous closing of Rs. 552.55 on the BSE.

The scrip opened at Rs. 550 and has touched a high and low of Rs. 563 and Rs. 548.45 respectively. So far 96019 shares were traded on the counter. The current market cap of the company is Rs. 28327.18 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 638 on 20-Mar-2015 and a 52 week low of Rs. 377.5 on 16-Oct-2014. Last one week high and low of the scrip stood at Rs. 570 and Rs. 547 respectively.

The promoters holding in the company stood at 69.74 % while Institutions and Non-Institutions held 19.76 % and 10.5 % respectively.

The stock is currently trading above its 50 DMA.

Top economy news of the day- September 23, 2015

A 29.5% on-year fall in engineering exports to $4.49 billion in August has hit as much as 73% of the engineering segments according to an analysis by EEPC India. Steel, iron, non-ferrous metals, industrial machinery, auto components and bi-cycle parts are among the most affected segments. India's engineering exports to 21 countries fell in August, while just four - Singapore, Germany, Malaysia and the Netherlands - posted an increase. 

A 29.5% on-year fall in engineering exports to $4.49 billion in August has hit as much as 73% of the engineering segments according to an analysis by EEPC India. Steel, iron, non-ferrous metals, industrial machinery, auto components and bi-cycle parts are among the most affected segments. India's engineering exports to 21 countries fell in August, while just four - Singapore, Germany, Malaysia and the Netherlands - posted an increase.

The yearly SBI Composite Index reading for September 2015 has come in at a four month high at 53.9, suggesting continued pick-up in economic momentum going forward. Last month, the index was at 53.4. The upturn has been majorly driven by manufacturing, while mining and electricity are still acting as a drag on economic activity, SBI said in its ‘Ecowrap’ report. 

Telangana inked an agreement to purchase 1,000 MW of electricity from neighbouring Chhattisgarh. The two states in November last year had signed a memorandum of understanding (MoU) on the issue. As a follow-up to the MoU, the PPA was signed which will remain in force for 12 years. 
The Centre raised the production target for the 2015-16 rabi crop season to 132.78 million tonnes from 130.75 mt last year. The roughly 1.6% increase in output is on the basis of inputs from all the states and greater soil moisture on account of the September showers. 

Indian carriers registered an 18.66% increase in the total number of passengers carried during the month of August this year, as compared to the same month last year, and flew about 6.8 million passengers during the month. The increase in number of passengers carried by airlines in August follows a high-growth month of July, when airlines registered a 29.31% increase in passengers flown. 

Volkswagen's fiasco rocks Motherson Sumi Systems; Company on damage control mode

India's largest auto ancilliary supplier group, Motherson Sumi Systems, has called the selloff in the stock market as "overreaction". Motherson Sumi arranged an analyst call to allay the fear in minds of the investors, as there is growing opinion that the probe will spill over to other parts of Europe's car making industry.

Motherson Sumi Systems went on damage control mode, after its share prices nosedived 7.72% at the bourses yesterday, as news emerged that one of its key clients Volkswagen had used illegal software to alter the emission test results in its diesel cars to clear stringent US norms, which could result in the German automaker facing penalties upto $18bn. 

Motherson Sumi arranged an analyst call to allay the fear in minds of the investors, as there is growing opinion that the probe will spill over to other parts of Europe's car making industry. Vivek Chaand Sehgal, Group Chairman of Motherson Sumi said that there is no reason to panic as this event is similar to a vehicle recall which other car manufacturers have carried in the past.

GN Gauba, CFO, Motherson Sumi has explained that there has been very little impact of this development on the business of the company and the stock market is "over-reacting".

In the past two trading sessions in the global markets, shares of German automaker Volkswagen, which is world's largest car company by sales volume, have been hammered and has crashed by nearly 46%.

Motherson Sumi is one of the major supplier to Volkswagen Group, and nearly 44% of its revenues come from the German automaker. 

Rupee opens lower by 13 paise at 66.05/$

In spite of dovish policy statement from US Federal Reserve, there is a perception that Fed will initiate its first rate hike either in October or December.

Indian Rupee today opened at 66.05 against the dollar, lower by 13 paise in early trade on Wednesday. Yesterday rupee weakened against the greenback, impacted by sharp fall in domestic equity markets and strength in US dollar against the basket of currencies. In spite of dovish policy statement from US Federal Reserve, there is a perception that Fed will initiate its first rate hike either in October or December.

On the global front, the preliminary Caixin China manufacturing PMI crashed to 47.0 in September, which is a six-and-a-half-year low. The Asian Development Bank sees a softer outlook for China and India and a delayed recovery in the world’s advanced nations. Its report predicts the region’s economies will expand 5.8% this year and 6% next year, down from the 6.3% it forecast in March for both years. The Chinese economy, which grew a revised 7.3% last year, is now set to slow to 6.8% growth in 2015 and 6.7% in 2016. India is forecast to grow 7.4% in 2015 and 7.8% in 2016. With the Fed choosing to postpone its rate hike decision, the attention is again on growth in developed and emerging economies besides issues with China. Global cues are subdued. Asian markets are in the red; down around a percent. Wall Street came tumbling down again with Dow down 1% and Nasdaq shedding 1.5%. The weakening Indian currency will also be in focus today.

On Tuesday, the Indian currency ended at 65.89, weaker by 16 paise. The currency touched a high and low of 66.03 and 66.09 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.62 and for Euro stood at 73.26 on September 22, 2015. While, the RBI’s reference rate for the Yen stood at 54.50, the reference rate for the Great Britain Pound (GBP) stood at 101.7319.

17 Stocks in focus today

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

Tech Mahindra:  Tech Mahindra and The North American divisions of AAA Group have signed an agreement to provide full end-to-end solution services to their aerospace and defence customers, as per media reports. '

Amtek Auto: With reference to the news appeared in Economic Times & ETNOW on September 21, 2015 captioned "Amtek said to be in refinance talks as bond payment deadline expires", Amtek Auto Ltd has Clarified that the Company is in advanced discussions with various Banks and Financial Institutions for re-alignment of its debt obligations.

Motherson Sumi Systems: Motherson Sumi Systems went on damage control mode, after its share prices nosedived 7.72% at the bourses yesterday, as news emerged that one of its key clients Volkswagen had used illegal software to alter the emission test results in its diesel cars to clear stringent US norms, which could result in the German automaker facing penalties upto $18bn.

Sterlite Technologies: The company has entered into a definitive agreement for the acquisition of Elitecore Technologies Private Limited (“Elitecore”), a global telecom software product company.

UltraTech Cement Ltd: The company has commissioned a cement grinding unit with a capacity of 1.6 million TPA at Jhajjar, Haryana.

Pfizer: The company is starting 20 clinical trials this year and more soon after on treatments to conquer cancer as it also seeks to gain leadership in one of the hottest, and most lucrative, areas of medicine.

Mindtree: The IT company has launched a state-of-the-art Global Learning & Delivery Center at Bhubaneshwar, Odisha. The facility, named Mindtree Kalinga, was inaugurated by Naveen Patnaik, Chief Minister of Odisha.

Emami Ltd: The firm said its wholly-owned subsidiary Emami UK Ltd has been dissolved. "Emami UK Limited, a wholly-owned subsidiary of the company, has been dissolved as per the provisions of the laws of United Kingdom.

Vedanta: An MoU was signed between the Ministry of Women and Child Development and Vedanta under which the group has earmarked Rs4bn to build 4000 ‘next generation’ Anganwadi centres in Andhra Pradesh, Assam, Chhattisgarh, Jharkhand, Madhya Pradesh, Maharashtra, Odisha, Rajasthan, Telangana and Uttar Pradesh among others. The Anganwadis will be built in clusters of 25-30 in a particular district with multifunctional capabilities.

Telecom stocks: India's telecom operators have dismissed the government's call for penalising telcos for dropped calls and dismal mobile coverage, and have exhorted the sector regulator not to make such compensation to customers mandatory.

Tide Water Oil Ltd: Standard Greases and Specialities Pvt Ltd along with Janus Consolidated Finance Pvt Ltd, Alpha TC Holdings Pte Ltd and Tata Capital Growth Fund plan to acquire up to 2.265 crore shares (or 26 per cent in the company) in Tide Water Oil. The offer price has been fixed at Rs 16,632 a share. LIC and United India Insurance hold 4.22 per cent and 6.88 per cent respectively, in the company.

Visa Steel: The company have decided to convert a large portion of their loans into equity using the Reserve Bank of India's (RBI) strategic debt restructuring (SDR) scheme, said media reports.

Britannia Industries Ltd: BIL pensioners have won a decade-long battle, after a Bengaluru court directed the biscuits major to pay pensions to its former employees who retired after March 2003 and also the triennial rise for them stopped in April 2004, said media reports.

Balmer Lawrie & Co Ltd: The company has planned around Rs 400 crore capital expenditure in the next two to three years in its logistics business vertical.

Bharti Airtel: The company is moving all its prepaid mobile customers nationally to the more affordable 'per second bill plan' starting Monday. A majority of Airtel's pre-paid mobile customers are already on the 'per second billing plan', which ensures that customers pay only for the time they use the Airtel network.

Pidilite Industries Ltd: The Construction Chemicals Division of Pidilite Industries will expand its operations in the emerging Asian and African markets.

BHEL: Rating agency Crisil has downgraded its outlook on Bharat Heavy Electricals Ltd's  long-term bank facilities to 'negative' from 'stable', saying that the company's project execution and profitability will remain vulnerable to structural issues plaguing the power sector. It, however, reaffirmed "AAA' rating for the long term facility and "A1+' for short term loans.

L&T: L&T Halol Shamlaji Tollway Ltd. (HSTL), a special purpose vehicle (SPV) of L&T Infrastructure Development Projects Ltd. (IDPL), has reportedly delayed scheduled payments on a loan worth Rs. 1,014.93 crore to its lenders in August.

Sensex falls over 200 points

The BSE Mid-cap Index is trading down 1.01% at 10,419, whereas BSE Small-cap Index is trading down 0.58% at 10,740.

At 9:20 AM, the S&P BSE Sensex is trading at 25,429 down 223 points, while NSE Nifty is trading at 7,741 down 71 points.

The BSE Mid-cap Index is trading down 1.01% at 10,419, whereas BSE Small-cap Index is trading down 0.58% at 10,740. 

Ahead of the expiry on Thursday, volatility surprised options traders. Massive call additions with puts unwinding at 7900 strike indicate that traders were not prepared for such big fallout of global events. Put writers would be forced to unwind or hedge the positions. A closing towards 7800 on futures can intensify selling pressure further.

Sterlite Tech could be in action on reports that it will acquire global firm Elitecore Tech.

ln spite of fiscal 2014-15 being an extremely challenging year, BHEL secured orders worth Rs.30,814 Crore, an increase of 10% over the previous year, in intensely competitive domestic and overseas markets.

External demand weakness and a slower-than-expected pace of enacting key reforms are holding back India’s growth acceleration, with the pace in 2015 now seen at 7.4%, down from 7.8% forecast earlier.

Reliance Industries has reportedly received a setback with the government clarified that the prevailing natural gas prices will apply to coal-bed methane (CBM) producers as well, according to reports. Report says that the company may have to settle for one-third of the $12 per mmBtu (million British thermal unit).