TCS rises marginally; partners Australian Pharmaceutical Industries to deliver SAP transformation

The company announced a strategic partnership with Australian Pharmaceutical Industries (API) to deliver SAP transformation program to the leading Australian health and beauty company.

Tata Consultancy Services stock rose marginally on Tuesday after the company announced a strategic partnership with Australian Pharmaceutical Industries (API) to deliver SAP transformation program to the leading Australian health and beauty company.

Tata Consultancy Services Ltd is currently trading at Rs. 2382.9, up by Rs. 8 or 0.34% from its previous closing of Rs. 2374.9 on the BSE.

The scrip opened at Rs. 2381 and has touched a high and low of Rs. 2398.45 and Rs. 2375.75 respectively. So far 509983(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 465171.66 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 2810 on 04-Mar-2015 and a 52 week low of Rs. 2348.25 on 16-Dec-2014. Last one week high and low of the scrip stood at Rs. 2480.3 and Rs. 2355 respectively.

The promoters holding in the company stood at 73.86 % while Institutions and Non-Institutions held 21.62 % and 4.52 % respectively.

The stock is currently trading above its 200 DMA.

TCS delivers SAP Transformation for Australian Pharmaceutical Industries

Tata Consultancy Services announced the go-live of a comprehensive IT and business transformation program for Australian Pharmaceutical Industries (API), a leading Australian health and beauty company.

Country's largest IT firm Tata Consultancy Services announced the go-live of a comprehensive IT and business transformation program for Australian Pharmaceutical Industries (API), a leading Australian health and beauty company.

TCS has unified and enhanced mission-critical IT systems across API’s retail, franchise and wholesale operations. API’s national wholesale network and its 420 Priceline and Priceline Pharmacy stores are now operating on the SAP ERP platform.

TCS has entered into a strategic partnership with API to update and replace key IT systems with a seamlessly integrated solution. The TCS designed SAP ERP platform integrates with API’s systems, providing improvements in mission-critical business operations such as Merchandising, Sales and Customer Service, Logistics and Finance.

Deborah Hadwen, CEO, TCS - Australia and New Zealand said, “The successful integration of this SAP ERP platform for API’s significant retail and wholesale divisions confirms our position as a leader in the delivery of innovative IT solutions for the retail sector in Australia.  API and its customers will now be able to benefit from this state of the art technology infrastructure, including an enhanced user experience and the elimination of duplication across divisions, saving the company time and money.”

Infosys partners Europe's largest technology accelerator Level 39

The partnership will allow the Bengaluru-based firm to get involved with finance, cyber-securities, retail and smart cities technology startups.

A day after COO Pravin Rao’s announced the company's target of signing large deals per quarter, India's second largest IT firm, Infosys has, reportedly, partnered Europe's largest technology accelerator, Level 39.

The partnership will allow the Bengaluru-based firm to get involved with finance, cyber-securities, retail and smart cities technology startups.

Established by Canary Wharf Group, Level 39, is located on the 39th floor of the One Canada Square building in London. The technology accelerator house more than 100 startups. As per reports, Level 39 hosts technology, media and telecommunication companies including Citihub, Ricoh and Oracle Financial Services.

On partnering with Level 39, Infosys has also become a member of Innovate Finance, an industry association for the global fintech sector in the UK. 

Talwalkar stock up 1%; to acquire 51% stake in Inshape Health

The company said that it will buy 51% stake from promoters of Chennai-based Inshape Health and Fitnez Pvt. Ltd in an all-cash deal.

Talwalkars Better Value Fitness Ltd stock was up by 1% at Rs. 252. The company said that it will buy 51% stake from promoters of Chennai-based  Inshape Health and Fitnez Pvt. Ltd in an all-cash deal.

The scrip opened at Rs. 252.3 and has touched a high and low of Rs. 254.3 and Rs. 251.4 respectively. So far 18244(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 742.62 crore.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 409.8 on 17-Mar-2015 and a 52 week low of Rs. 216 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 255.2 and Rs. 241.4 respectively.

The promoters holding in the company stood at 37.89 % while Institutions and Non-Institutions held 24.9 % and 37.2 % respectively.

The stock is currently trading below its 200 DMA.

Sugar stocks in focus; Shree Renuka Sugars sweetens 11.6%

Simbhaoli Sugar jumped 10% at Rs.22.20. The scrip opened at Rs. 21.95 and has touched a high and low of Rs. 22.2 and Rs. 20.8 respectively. So far 139,744 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 57.02 crore.

Sugar stock have zoomed by 2% to 5% on the BSE in early morning trade on BSE.

Shree Renuka Sugars has galloped 11.6% at Rs. 15.03. The scrip opened at Rs. 14.15 and has touched a high and low of Rs. 15.29 and Rs. 14.12 respectively. So far 19,616,459 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 1250.18 crore.

Simbhaoli Sugar jumped 10% at Rs.22.20.  The scrip opened at Rs. 21.95 and has touched a high and low of Rs. 22.2 and Rs. 20.8 respectively. So far 139,744 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 57.02 crore.

Sakthi Sugars has soared 6% at Rs. 34.  The scrip opened at Rs. 33 and has touched a high and low of Rs. 35.1 and Rs. 33 respectively. So far 759,220 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 310.77 crore.

Balrampur Chini Mills has gained 3% at Rs. 74. Bajaj Hindusthan Sugar has gained 2% at Rs.22.

ICICI Bank surges 1%; board approves 6% stake sale in ICICI Prudential

The Board of Directors of ICICI Bank Limited has approved, subject to government and regulatory approval, the sale of 6.0% out of ICICI Bank Limited’s shareholding in ICICI Prudential Life Insurance Company Limited.

Shares of ICICI Bank Ltd were higher by 1% at Rs. 269.The Board of Directors of ICICI Bank Limited has approved, subject to government and regulatory approval, the sale of 6.0% out of ICICI Bank Limited’s shareholding in ICICI Prudential Life Insurance Company Limited (“the Company”), comprising the sale of 4.0% to Premji Invest & its affiliates and 2.0% to Compassvale Investments Pte Ltd, an indirectly wholly-owned subsidiary of the Singapore-based investment company, Temasek. 

ICICI Bank Ltd is currently trading at Rs. 269.55, up by Rs. 2.35 or 0.88% from its previous closing of Rs. 267.2 on the BSE.

The scrip opened at Rs. 271.2 and has touched a high and low of Rs. 272.25 and Rs. 269.2 respectively. So far 4940891(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 155187.75 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 393.3 on 28-Jan-2015 and a 52 week low of Rs. 248 on 07-Sep-2015. Last one week high and low of the scrip stood at Rs. 268.25 and Rs. 259.45 respectively.

The stock is currently trading above its 200 DMA.

Motherson Sumi Systems gains 2.4% after block deal

Around 12 lakh shares were traded in a multiple block at Rs. 278- 278.60 on the NSE.

Motherson Sumi Systems has rallied 2.4% to Rs. 281 on NSE. Around 12 lakh shares were traded in a multiple block at Rs. 278- 278.60 on the NSE. The scrip opened at Rs. 275.3 and has touched a high and low of Rs. 282 and Rs. 275.25 respectively. So far 2,23,044 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 36253.5 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 395.85 on 06-Aug-2015 and a 52 week low of Rs. 217.3 on 05-Oct-2015. Last one week high and low of the scrip stood at Rs. 283.5 and Rs. 263.1 respectively.

The promoters holding in the company stood at 65.59 % while Institutions and Non-Institutions held 22.9 % and 11.5 % respectively.

The stock is currently trading below its 200 DMA.

Ajanta Pharma advances 2% after launching generic asthma drug

The pharma company announced the launch of Montelukast Sodium Oral Granules (4mg), a bioequivalent generic version of SINGULAIR Granules, in the US market.

Ajanta Pharma has rallied 2% to Rs.1,361 on BSE. The pharma company has announced the launch of Montelukast Sodium Oral Granules (4mg), a bioequivalent generic version of SINGULAIR Granules, in the US market. Ajanta Pharma offers Montelukast Granules in cartons containing 30 individual sachets.

The scrip opened at Rs. 1366 and has touched a high and low of Rs. 1370 and Rs. 1352 respectively. So far 80,466 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 11744.21 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1720 on 12-Aug-2015 and a 52 week low of Rs. 842 on 17-Nov-2014. Last one week high and low of the scrip stood at Rs. 1470 and Rs. 1321.95 respectively.

The promoters holding in the company stood at 73.78 % while Institutions and Non-Institutions held 9.66 % and 16.56 % respectively.

The stock is currently trading above its 100 DMA.

SBI declares Vijay Mallya a wilful defaulter

“The names will be sent to RBI and credit information companies shortly and they will not be allowed to raise funds for five years,” a banker has been quoted as saying by the newspaper.

State Bank of India (SBI) has declared Kingfisher Airlines, Vijay Mallya and United Breweries Holdings wilful defaulters, according to a business daily. 

“The names will be sent to RBI and credit information companies shortly and they will not be allowed to raise funds for five years,” a banker has been quoted as saying by the newspaper.

SBI has written that the bank’s grievance redressal committee has considered the legal representation of Mallya and has found it to be unsatisfactory, reports the daily.

In August last year, SBI had sent a notice to Kingfisher Airlines and had given time to represent its case. 

The airline moved the Bombay High Court and the matter was finally resolved in September when the Supreme Court allowed Mallya’s lawyers to be present at the grievance redressal committee meetings.

Kingfisher Airlines, which has been grounded since 2012, has dues of over INR 7,000 crore to a consortium of 17 banks. SBI’s share is estimated to be the largest at Rs. 1,600 crore.

Apollo Tyres may miss 2020 revenue target: CFO

Kumar cited slower demand in Europe, price cuts and relentless imports of truck & bus radial (TBR) tyres from China as the main reasons for warning on its 2020 revenue target.

Apollo Tyres Ltd. may miss its 2020 target of becoming a US$6 billion company, chief financial officer (CFO) Gaurav Kumar said on Monday.

Kumar cited slower demand in Europe, price cuts and relentless imports of truck & bus radial (TBR) tyres from China as the main reasons for warning on its 2020 revenue target.

“While we still have the ambition, the growth has to be a profitable one,” said Kumar.

Until three years ago, growth in the European tyre market was outpacing the rest of the world. That has changed now, Kumar said. “We are not insulated from the macro-economic factors,” he added.

Apollo Tyres’s revenue would have been ~US$4 billion now but for the ongoing challenges, Kumar said.

Apollo Tyres on Monday said that it had acquired German tyre distributor Reifencom GmbH for €45.60 million (~INR 323 crore).

Kumar is hopeful that the commencement of the company’s Hungary plant in early 2017 and the acquisition of Reifencom will strengthen its European operations.

Infosys eyes deals in US$1.5-2bn range: COO

Rao said that the large deal wins have significantly increased over the last couple of quarters.

Infosys is targeting large deals in the range of US$1.5-2 billion per quarter, the company's Chief Operating Officer (COO) Pravin Rao was quoted as saying on Monday.

Rao said that the large deal wins have significantly increased over the last couple of quarters. 

On an average, Infosys has won large deals in the range of US$500-550 million per quarter, but in the second quarter this year it topped US$830 million.

Infosys will not be changing the annual revenue guidance of 10-12% in constant currency terms, Rao said.

Around US$70 billion worth of IT deals are coming up for renewal in the next 18 months with majority of them being in the re-bid category, Infosys CFO M.D. Ranganath was quoted as saying.

ICICI Bank, Reliance 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.

ICICI Bank: ICICI Bank announced it will sell 4% stake in its life insurance venture to Premji Invest and 2% to Compassvale Investments, a company owned by Temasek Holdings. The transaction values the life insurance venture at Rs. 32,500 crore.

Infosys: Stressing the need to bring back predictability in performance the Infosys management on a conference call with analysts mentioned it has a five-pronged strategy to bring back growth.Infosys sees pressure on margins in the coming third quarter attributing the same to holiday season fall in spends.

Reliance Infra: Reliance Infrastructure Limited announced that all requisite approvals including the approval of the Competition Commission of India (CCI) and the Gujarat Maritime Board (GMB) have been received for the acquisition together with management control of Pipavav Defence and Offshore Engineering Company Limited. (Pipavav Defence).

Nestle India: The Food Safety & Standards Authority of India (FSSAI) moved the Supreme Court against the Bombay High Court's order lifting the ban on Nestle's Maggi noodles. "We have appealed in the Supreme Court on two accounts, one is the allegation that our officials acted against the system of natural justice and second the validity of operations of our labs," FSSAI Chairman and CEO Ashish Bahuguna has been quoted as saying.

Ajanta Pharma Limited: Ajanta Pharma announced the launch of Montelukast Sodium Oral Granules (4mg), a bioequivalent generic version of SINGULAIR Granules, in the US market. Ajanta Pharma offers Montelukast Granules in cartons containing 30 individual sachets.

Videocon Industries Ltd: The Company has launched Issue of Foreign Currency Convertible Bonds convertible into ordinary equity shares, in exchange of a part of outstanding amount of existing US$200,000,000 6.75 per cent. Convertible Bonds due 2015, subject to the acceptance of the exchange offer by the requisite majority of the bond holders and subject to other statutory approvals.

Indiabulls Housing Finance: The promoter and managing director of Indiabulls Housing Finance Ltd. bought shares worth Rs. 100 crore to increase their stake in the housing finance company.

Apollo Tyres Ltd: Apollo Tyres may miss its 2020 target of becoming a US$6 billion company, chief financial officer (CFO) Gaurav Kumar said on Monday. The company announced the acquisition of Reifencom GmbH, one of the largest tyre distributors in Germany for Euro 45.6 million. Reifencom GmbH has an online presence in 6 countries -- Germany, France, Italy, Austria, Switzerland and Denmark.

Zensar Technologies: Zensar Tech is planning to appoint a new head to replace its chief executive officer Ganesh Natarajan, says report. The company has appointed executive search firm Russell Reynolds to scout for a new chief executive.

Talwalkars Better Value Fitness Ltd: The company said in a notice to BSE that it will buy 51% stake from promoters of Chennai-based  Inshape Health and Fitnez Pvt. Ltd in an all-cash deal.

Niraj Cement Structurals: The company has informed BSE that the Company has secured One Contract from The Executive Engineer - Pkhulbani (R&B) Division - "Improvement to Sankarakhole -Koinjhar-Paburia-Mandakia road (ODR) from 5/600 km to 20/000 km under NABARD Assistance RIDF - XXI".

Inox Wind: Inox Wind is commissioning a 800 Mw facility at its manufacturing unit in Madhya Pradesh to double production capacity to 1,600 Mw.

Rupee opens higher at 65.95/$

The currency touched a high and low of 66.03 and 66.07 respectively.WPI inflation during October contracted by 3.81% on yoy basis, relatively less than the September WPI reading of ‐4.54%.

The Indian rupee opened higher by 5 paise at 65.95/$ in early trade on Tuesday. On macroeconomic side, India’s wholesale prices during October declined for the 12th consecutive months. In this respect, WPI inflation during October contracted by 3.81% on yoy basis, relatively less than the September WPI reading of ‐4.54%. Rise in food prices has moderated the contraction. Earlier, Indian government reported that consumer prices during October rose 5% on yoy basis after a 4.41% increase in September. Rising food prices (particularly pulses) and dilution of congenial base effect is leading to a spike in consumer price inflation.

On global macroeconomic front, a contrasting picture seems to be emerging on both sides of the Atlantic, wherein Fed is talking about a rate hike and ECB is contemplating at a prolonged accommodative stance. Markets to an extent may have factored in the probability of US hiking rates in December; however the moot point is whether Fed will adopt a long pause after the first move on the rates.

The rupee ended at 65.99, higher by 10 paise from its previous close of 66.09 on Friday. The currency touched a high and low of 66.03 and 66.07 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.16 and for Euro stood at 70.97 on November 16, 2015. While, the RBI’s reference rate for the Yen stood at 54.05, the reference rate for the Great Britain Pound (GBP) stood at 100.6563.

Sensex rallies over 100 points; banking, capital goods gain

Some buying activity is seen in banking, capital goods, pharma, auto, FMCG and oil & gas sectors, while IT and teck sectors are showing weakness on BSE. The BSE Mid-cap Index is trading up 0.45% at 10,725, whereas BSE Small-cap Index is trading up 0.52% at 11,240.

At 9:18 AM, the S&P BSE Sensex is trading at 25,867 up 107 points, while NSE Nifty is trading at 7,838 up 31 points.

The BSE Mid-cap Index is trading up 0.45% at 10,725, whereas BSE Small-cap Index is trading up 0.52% at 11,240.

Some buying activity is seen in banking, capital goods, pharma, auto, FMCG and oil & gas sectors, while IT and teck sectors are showing weakness on BSE.

The Indian rupee opened higher by 5 paise at 65.95/$ in early trade on Tuesday. On macroeconomic side, India’s wholesale prices during October declined for the 12th consecutive months. In this respect, WPI inflation during October contracted by 3.81% on yoy basis, relatively less than the September WPI reading of ‐4.54%. Rise in food prices has moderated the contraction. Earlier, Indian government reported that consumer prices during October rose 5% on yoy basis after a 4.41% increase in September. Rising food prices (particularly pulses) and dilution of congenial base effect is leading to a spike in consumer price inflation.

Infosys will be in focus as it sees pressure on margins in the coming third quarter attributing the same to holiday season fall in spends.

The Food Safety & Standards Authority of India (FSSAI) moved the Supreme Court against the Bombay High Court's order lifting the ban on Nestle's Maggi noodles.

Apollo Tyres Ltd. may miss its 2020 target of becoming a US$6 billion company, chief financial officer (CFO) Gaurav Kumar said on Monday.

The cumulative domestic order inflows of seven large industrial companies fell 49% to Rs 23,500 crore in the September quarter. For BHEL and L&T, the decline has been 81 per cent and 46 per cent, respectively