USFDA issues notice to Cipla for its Indore plant; stock slips 2%

The US Food and Drug Administration (USFDA) has served 9 observation and has issued a memo notice to Cipla Ltd for its Indore plant.

Shares of Cipla Ltd are currently trading lower at Rs. 670, down by 2.4% on BSE. The US Food and Drug Administration (USFDA) has served 9 observation and has issued a memo notice to Cipla Ltd for its Indore plant. The US drug regulator had inspected Cipla’s Indore facility during July and August this year.

The US FDA investigators noted that the company’s quality control unit lacked authority to review production data and failed to assure error-free production.

The investigation further found that the aseptic processing areas are deficient regarding the system for monitoring environmental conditions.

The US FDA inspection noted that the sterile filling lines were frequently opened in order to complete manual interventions during product filling. "In the packaging hall, sterile product vials exiting the filling line were handled with ungloved and unsensitized hands by packaging line employees...," said the FDA in Form 483.

The scrip opened at Rs. 688.1 and has touched a high and low of Rs. 688.1 and Rs. 659.3 respectively. So far 4679810(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 55181.33 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 752.45 on 10-Mar-2015 and a 52 week low of Rs. 572 on 15-Jun-2015. Last one week high and low of the scrip stood at Rs. 688.7 and Rs. 660.25 respectively.

The promoters holding in the company stood at 36.79 % while Institutions and Non-Institutions held 34.3 % and 26.6 % respectively.

The stock is currently trading below its 50 DMA.

Bajaj Finance profit climbs 41.8% to Rs.2,793.90 mn

The company’s total income has increased by 36.3 per cent to Rs. 17005.70 million for the quarter under review from Rs. 12418.30 million for the corresponding quarter of the previous year.

Bajaj Finance Ltd has announced the following results for the quarter ended September 30, 2015.

The company reported 41.8 per cent rise in its net profit at Rs.2,793.90 million for the year ended September 30, 2015 as compared to Rs.1,971.50 million for the same quarter in the previous year.

The company’s total income has increased by 36.3 per cent to Rs. 17005.70 million for the quarter under review from Rs. 12418.30 million for the corresponding quarter of the previous year.

Lupin stock up 1% on FIPB approval

The Foreign Investment Promotion Board approved 14 foreign direct investment (FDI) proposals of the company.

Shares of Lupin Ltd was trading higher by 1% at Rs. 2,088. The Foreign Investment Promotion Board (FIPB) approved 14 foreign direct investment (FDI) proposals of the company.

Lupin Ltd is currently trading at Rs. 2083.7, up by Rs. 14.85 or 0.72% from its previous closing of Rs. 2068.85 on the BSE.

The scrip opened at Rs. 2097 and has touched a high and low of Rs. 2100 and Rs. 2075.35 respectively. So far 1088366(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 93140.69 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 2127 on 06-Oct-2015 and a 52 week low of Rs. 1309.6 on 17-Oct-2014. Last one week high and low of the scrip stood at Rs. 2110 and Rs. 2005 respectively.

The promoters holding in the company stood at 46.56 % while Institutions and Non-Institutions held 43.45 % and 9.99 % respectively.

The stock is currently trading below its 50 DMA.

Weak Start! Rupee opens lower by 15 paise at 64.95/$

On macroeconomic side, a slew of numbers were released last week, which portrays Indian economic story as a bright spot amid a fragile global economic backdrop.

Indian Rupee today opened lower by 15 paise at 64.95/$ in early trade on Tuesday. On macroeconomic side, a slew of numbers were released last week, which portrays Indian economic story as a bright spot amid a fragile global economic backdrop. In international markets, US dollar continues to lose ground, as minutes of the recent US FOMC meeting suggests that a rate hike by Federal Reserve this year is very unlikely.

The rupee ended at 64.80/$ from its previous close of 64.81/$ on Friday. The currency touched a high and low of 64.99/$ and 65.04/$ respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.81 and for Euro stood at 73.74 on October 19, 2015. While, the RBI’s reference rate for the Yen stood at 54.36, the reference rate for the Great Britain Pound (GBP) stood at 100.1176.

India’s crude oil production falls in Sept; natural gas production up

For September, ONGC’s crude oil production grew by 2.56% to 1.856 MT and its natural gas production rose by 2.08% to 1.815 billion cubic meters.

For September 2015, India’s crude oil production has fallen by 0.06% to 3.042 MT as against 3.044 MT in the same period a year ago. However, for the same period, the country’s natural gas production has increased by 0.88% to 2.750 billion cubic meters, which was recorded at 2.726 billion cubic meters in September 2014. For the second consecutive month, India’s natural gas production has gone up.

However, for the H1 FY16, domestic natural gas production stands 2.14% lower at 16.448 billion cubic meters as against 16.809 cubic meters in the same period a year ago. India’s crude oil production for the April-Sept 2015 period has surged by 0.43% to 18.860 MT as against 18.601 MT in the corresponding period last year.

For September, ONGC’s crude oil production grew by 2.56% to 1.856 MT and its natural gas production rose by 2.08% to 1.815 billion cubic meters.

20 Stocks in focus today

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

HCL Technologies:The Company has posted a net profit of Rs. 14,046.30 million for the quarter ended September 30, 2015 as compared to Rs. 16,825.60 million for the quarter ended September 30, 2014.

Maruti Suzuki India: The auto company has launched a variant of its mid-sized sedan Ciaz priced at Rs 920,000 & Rs 1,028,000.

Ultratech Cement: The cement company reported consolidated net profit of Rs. 426.97 crore for the quarter, registering growth of 3.07% yoy and (27.77%) qoq. Company’s revenue stood at Rs. 6012.89 crore, witnessed growth of 4.21% yoy and (6.50%) qoq.

Dabur India: Dabur India will make an investment in the beauty retail space by spending over Rs. 1 bn on its chain NewU over the next 2 years.

Lupin: The Foreign Investment Promotion Board (FIPB) has cleared the foreign investment proposal of Lupin.

Infosys: The IT company announced it’s acquisition of Noah Consulting, which provides information management consulting services in the oil-and-gas sector, for $70mn in cash.

Aegis Logistics: Aegis Logistics has been allotted 3 acres of land at Mangalore Port to build a storage terminal.

Hindustan Zinc: The company reported standalone net profit of Rs. 2285.26 crore for the quarter, registering growth of 4.65% yoy and 18.97% qoq. Company’s revenue stood at Rs. 4033.30 crore, registering growth of 6.07% yoy and 11.10% qoq.

Adani Ports and Special Economic Zone Ltd: Adani Ports has signed a MoU with the India Pulses and Grains Association, to handle pulses import across its ports in the country.

Indian Hotels Ltd: The board of Indian Hotels Company has approved amalgamation of two of its wholly-owned subsidiaries into itself, as per media report.

Mangalore Chemicals and Fertilizers Ltd: The company reported a net loss of Rs 19.45 crore in the second quarter ended September 30. 

Sunil Hitech Engineers: The company has bagged orders worth Rs. 474 crore for projects in Bihar from Ministry of Road Transport and Highways.

Gati Ltd: The company has posted a net profit after taxes and Minority Interest of Rs. 57.90 million for the quarter ended September 30, 2015 as compared to Rs. 69.30 million for the quarter ended September 30, 2014. Total Income has decreased from Rs. 4149.10 million for the quarter ended September 30, 2014 to Rs. 4077.20 million for the quarter ended September 30, 2015.

Kitex Garments: The company reported standalone net profit of Rs. 27.15 crore for the quarter, registering growth of 40.52% yoy and 70% qoq. Company’s revenue stood at Rs.134.25 crore, registering growth of 4.71% yoy and 23.07% qoq.

Orient Cement: The cement producing company reported standalone net profit of Rs. 28.01 crore for the quarter, registering growth of (35.35%) yoy and 0.43% qoq. Company’s revenue stood at Rs.356.80 crore, registering growth (7.54%) yoy and 2.12% qoq.

SKS Microfinance: The company posted a 37 percent increase in its net profit at Rs 77.9 crore for the second quarter ended September 30, 2015. Its net profit stood at Rs 56.75 crore in the same period of the previous fiscal.

Maharashtra Scooters Ltd: The net profit for the quarter stood at Rs. 49.2 crore. The sales for the quarter stands at Rs. 2.66 crore.

Petronet LNG: The company reported standalone net profit of Rs. 248.85 crore for the quarter, registering growth of (5.31%) yoy and 0.54% qoq. Company’s revenue stood at Rs.7,544.97 crore, registering decline of 31.28% yoy and 9.50% qoq. The company is reportedly in talks with Qatar’s RasGas to alter a decade-old liquefied natural gas (LNG) procurement agreement.

Gruh Finance Ltd: The company has posted a net profit of Rs. 517.10 million for the quarter ended September 30, 2015, 2015 as compared to Rs. 430.90 million for the same quarter in the previous year. 

Heritage Food: The company reported 21.67 per cent rise in its net profit at Rs. 15.3 crore for the quarter ended September 30, 2015 as compared to Rs. 4.83 crore for the same quarter in the previous year. 

M&M: The Agri Business vertical of Mahindra & Mahindra, part of the USD 16.9 billion Mahindra Group, forayed into branded pulses, with the launch of 'NuPro Tur Dal'. The move follows the launch of edible oils under the 'NuPro' brand umbrella by the company in August this year.

Nestle India: The governments of Gujarat and Karnataka on Monday announced lifting of ban on Maggi noodles after three laboratories certified by the National Accreditation Board for Testing & Calibration Laboratories (NABL) said on Friday that the Nestle India's instant snack was safe for consumption.

Dalmia Cement Bharat Ltd: The company expects to improve its share of cement sales from south India by entering the Karnataka market.

BSE-listed firms regain Rs. 100 lakh-crore market cap mark

The total market capitalisation (m-cap) of BSE listed companies stood at Rs 1,00,36,165 crore at the end of trade

The total market valuation of listed companies at the BSE regained the Rs. 100 lakh-crore mark. 

The total market capitalisation (m-cap) of BSE listed companies stood at Rs 1,00,36,165 crore at the end of trade.

Earlier the investor wealth of BSE-listed firms had crashed below Rs 100 lakh crore on August 24, 

On Monday, the benchmark BSE Sensex soared 150.32 points to settle at 27,364.92 

Results to watch out for: Hero MotoCorp, Biocon in focus

The results which are expected today are Hero MotoCorp, Biocon, ACC, Federal Bank, Zensar Technology, State Bank of Bikaner & Jaipur, Mphasis, Syngene International, Bayer Corpscience, Ortel Communications, DHFL, Everest Industries, Sanofi India, Bajaj Finance, BASF India, Jyothy Laboratories, Kajaria Ceramics.

The results which are expected today are Hero MotoCorp, Biocon, ACC, Federal Bank, Zensar Technology, State Bank of Bikaner & Jaipur, Mphasis, Syngene International, Bayer Corpscience, Ortel Communications, DHFL, Everest Industries, Sanofi India, Bajaj Finance, BASF India, Jyothy Laboratories, Kajaria Ceramics, Industries, Everest  Rane (Madras), Pranavaditya Spinning mills, Prime Securities, G.M. Breweries, Neelamalai Agro Industries, Welspun India,Zee Media Corporation, Hatsun Agro Product, Indian Metals& Ferro Alloys, Adani Transmission, Alankit,Aro Granite Industries, Bajaj Finserv, Blueblends (India), Can Fin Homes, Container Crporation of India, Ramchandra Leasing & Finance, Foseco India, International Paper APPM

Sensex, Nifty Flat; Hero MotoCorp Falls Ahead of Earnings

The BSE Sensex and the broader Nifty are likely to open flat on Tuesday tracking mixed trade across Asia. Bulls seem to have an upper hand currently as the Nifty has gained over 300 points in the first three weeks of this month.

Here are 10 things to know before markets open for trade:

1) Nifty futures trading on the Singapore Exchange, or SGX Nifty, were flat at 8,269, indicating a lacklustre start for domestic stock markets.

2) Asian markets were mixed. Japan's Nikkei traded higher, but markets in China and Hong Kong were down despite better-than-expected China data on Monday. "The official GDP shows growth slowed to 6.9 per cent in Q3... Unfortunately, these figures need to be taken with a pinch of salt," economists at Capita Economics wrote.

3) The Nifty will be eyeing the key resistance of 8,300 today, traders said. "A sustained move above the 8,206 (100 day moving average) will keep the upward momentum intact and Nifty is likely to move towards 8,376 (200 DMA) in near term," said Alex Mathews of Geojit BNP Paribas Financial Services.

4) The return of foreign investors has given momentum to domestic stocks. On Monday, they bought shares worth Rs 898 crore in the cash market. "FIIs have come back to the Indian market after a gap of about two months as emerging markets have stabilized after absorbing the implication of slowdown in the economies... The next level of target for Nifty should be around 8,400 level," said Vinod Nair of Geojit BNP Paribas Financial Services.

5) However, domestic investor continued to be net sellers of equities and on Monday they have sold shares worth Rs 246.26 crore.

6) Second quarter earnings of major blue-chip companies like Hero MotoCorp and ACC are likely to dictate the direction of Sensex and Nifty, traders said.

7) Shares Hindustan Zinc are likely to open gap on strong Q2 numbers. Other mid-cap companies like SKS Micro, BlueStar, Gati are likely to react to their earnings.

8) Midcap companies like Biocon, Federal Bank, Bajaj Finserv and SBBJ will also report their quarterly earnings today.

9) Lower global commodity prices are likely to pressure commodity-based companies like, Tata Steel, Vedanta, JSW Steel today.

10) Overnight, a late recovery helped US stocks end flat on Monday. Gains in tech shares helped offset losses in energy shares.