Persistent Systems climbs 2.7 %; to sign acquisition deals

The company announced its plans to sign acquisition deals with large companies in near future.

Persistent Systems rallied 2.7 % to Rs. 679.95 after the company announced its plans to sign acquisition deals with large companies in near future.

The scrip opened at Rs. 667 and has touched a high and low of Rs. 695 and Rs. 666.6 respectively. So far 197921(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 5294.4 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 960.83 on 02-Jan-2015 and a 52 week low of Rs. 577 on 29-Jun-2015. Last one week high and low of the scrip stood at Rs. 680 and Rs. 655.9 respectively.

The promoters holding in the company stood at 38.53 % while Institutions and Non-Institutions held 28.36 % and 33.11 % respectively.

The stock is currently trading below its 200 DMA.

Titan Co gains 1%; Tata Sons to acquire additional 0.22% stake

Tata Sons is reportedly planning to acquire additional 0.22% stake in Titan Company at an estimated price of over Rs. 66 crore.

Titan Company has gained 1% to Rs. 369.75 on BSE.  Tata Sons is reportedly planning to acquire additional 0.22% stake in Titan Company at an estimated price of over Rs. 66 crore. Tata Sons will acquire 0.22% stake from Tata International as part of restructuring its investment portfolio, the company reported.

The scrip opened at Rs. 368 and has touched a high and low of Rs. 373 and Rs. 368 respectively. So far 65,636 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 32555.63 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 448 on 03-Feb-2015 and a 52 week low of Rs. 303 on 01-Oct-2015. Last one week high and low of the scrip stood at Rs. 385.8 and Rs. 366 respectively.

The promoters holding in the company stood at 53.05 % while Institutions and Non-Institutions held 25.27 % and 21.67 % respectively.

The stock is currently trading below its 200 DMA.

NMDC slips after cutting iron ore prices

NMDC had cut the price of iron ore on November 26 by 13% to Rs. 2,100 per tonne from Rs. 2,400 earlier.

NMDC slipped 0.4% to Rs. 91.40 on BSE. The company has cut prices of iron ore by 15% to Rs. 1,800 per tonne on Friday.

NMDC's iron prices have come down by 25% in last two weeks. NMDC had cut the price of iron ore on November 26 by 13% to Rs. 2,100 per tonne from Rs. 2,400 earlier.

The scrip opened at Rs. 92 and has touched a high and low of Rs. 92.75 and Rs. 90.65 respectively. So far 6,39,172 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 36376.12 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 148.95 on 02-Jan-2015 and a 52 week low of Rs. 90.1 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 96.5 and Rs. 91.4 respectively.

The promoters holding in the company stood at 80 % while Institutions and Non-Institutions held 16.55 % and 3.45 % respectively.

The stock is currently trading above its 200 DMA.

Dr. Reddy’s Laboratories signs MOU with Life Sciences Sector Skill Development

The company has signed MoU with Life Sciences Sector Skill Development Council and Vishnu Institute of Pharmaceutical Education and Research to Strengthen the Skilled Labour Pool in the Life Science Industry.

Dr. Reddy’s Laboratories Ltd has signed MoU with Life Sciences Sector Skill Development Council and Vishnu Institute of Pharmaceutical Education and Research to Strengthen the Skilled Labour Pool in the Life Science Industry.

The scrip opened at Rs. 3200 and has touched a high and low of Rs. 3208.75 and Rs. 3154 respectively. So far 147998(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 54503.03 crore.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 4382.95 on 20-Oct-2015 and a 52 week low of Rs. 3010 on 09-Feb-2015. Last one week high and low of the scrip stood at Rs. 3265 and Rs. 3102 respectively.

The promoters holding in the company stood at 25.51 % while Institutions and Non-Institutions held 41.91 % and 14.35 % respectively.

The stock is currently trading above its 100 DMA.

Suven initiates Phase 2A trial of SUVN-502 in USA

The clinical development program being executed through Suven, Inc., a Delaware Company in USA, wholly owned subsidiary of Suven Life Sciences.

Suven Life Sciences, a clinical stage biopharmaceutical company developing novel medicines to treat life-threatening Central Nervous System (CNS) disorders, announced dose administration of the first patient in a Phase 2A clinical trial of SUVN-502, a 5HT6 antagonist in patients with moderate Alzheimer’s Disease (AD). The clinical development program being executed through Suven, Inc., a Delaware Company in USA, wholly owned subsidiary of Suven Life Sciences.

This trial is designed to evaluate the safety, tolerability, pharmacokinetics and efficacy of SUVN-502 for the treatment of moderate Alzheimer’s Disease (AD).

This trial is expected to enroll 537 patients and the primary objective of the study is to evaluate the efficacy of a serotonin receptor subtype 6 (5-HT6) antagonist, SUVN-502, at daily doses of 50 mg or 100 mg compared to placebo, as adjunct treatment in subjects with moderate Alzheimer’s disease (Mini-Mental State Examination [MMSE] score of 12 to 20) currently treated with the acetylcholinesterase inhibitor, Donepezil Hydrochloride (HCl) and the N-methyl-D-aspartic acid (NMDA) antagonist, MemantineHCl. Efficacy will be assessed by the 11-item Alzheimer’s Disease Assessment Scale for Cognitive Behavior (ADAScog-11) after 26 weeks of treatment. The trial is likely to complete by end of second quarter 2017, subject to the achievement of estimated 12 months’enrollment goal in USA.

Suven Life Sciences Ltd is currently trading at Rs. 268.65, up by Rs. 7.8 or 2.99% from its previous closing of Rs. 260.85 on the BSE.

The scrip opened at Rs. 262 and has touched a high and low of Rs. 270.1 and Rs. 260 respectively. So far 115430(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 3320.16 crore.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 338.5 on 15-Apr-2015 and a 52 week low of Rs. 192.15 on 08-Sep-2015. Last one week high and low of the scrip stood at Rs. 273.25 and Rs. 259.5 respectively.

The promoters holding in the company stood at 59.57 % while Institutions and Non-Institutions held 7.2 % and 33.23 % respectively.

The stock is currently trading above its 50 DMA.

OMC stocks surge; Hindustan Petroleum, IOC up 2%

Shares of Oil marketing companies are trading higher in the wake of the Opec’s decision to keep production high.

Shares of Oil marketing companies are trading higher in the wake of the Opec’s decision to keep production high.

Hindustan Petroleum Corp. Ltd stock was up by 3% at Rs. 843, while Indian Oil Corp. Ltd is up 2% at Rs. 434.

Bharat Petroleum Corp Ltd stock was up by 1% at Rs.915.

Hindustan Petroleum Corporation Ltd is currently trading at Rs. 843.3, up by Rs. 21.65 or 2.63% from its previous closing of Rs. 821.65 on the BSE.

The scrip opened at Rs. 830 and has touched a high and low of Rs. 848 and Rs. 830 respectively. So far 493716(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 27823.53 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 991 on 10-Aug-2015 and a 52 week low of Rs. 535.3 on 26-Dec-2014. Last one week high and low of the scrip stood at Rs. 856.8 and Rs. 812 respectively.

The promoters holding in the company stood at 51.11 % while Institutions and Non-Institutions held 34.48 % and 14.41 % respectively.

The stock is currently trading below its 100 DMA.

Indian Oil Corporation Ltd is currently trading at Rs. 434.5, up by Rs. 6.5 or 1.52% from its previous closing of Rs. 428 on the BSE.

The scrip opened at Rs. 429 and has touched a high and low of Rs. 436.8 and Rs. 429 respectively. So far 852720(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 103916.26 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 465.4 on 24-Jul-2015 and a 52 week low of Rs. 307 on 13-Feb-2015. Last one week high and low of the scrip stood at Rs. 436.8 and Rs. 419.45 respectively.

The promoters holding in the company stood at 58.57 % while Institutions and Non-Institutions held 16.88 % and 24.54 % respectively.

The stock is currently trading below its 100 DMA.

Bharat Petroleum Corporation Ltd is currently trading at Rs. 915, up by Rs. 7.3 or 0.8% from its previous closing of Rs. 907.7 on the BSE.

The scrip opened at Rs. 910 and has touched a high and low of Rs. 923.35 and Rs. 910 respectively. So far 509876(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 65633.97 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 987 on 23-Jul-2015 and a 52 week low of Rs. 622.45 on 15-Dec-2014. Last one week high and low of the scrip stood at Rs. 946.25 and Rs. 898.05 respectively.

The promoters holding in the company stood at 54.93 % while Institutions and Non-Institutions held 30.36 % and 14.71 % respectively

The stock is currently trading below its 100 DMA.

RCom drops 2%; sells tower assets to Tillman Global Holdings and TPG

The company recently signed a Non-Binding Term Sheet with Tillman Global Holdings and TPG for sale of its tower assets and related infrastructure.

Reliance Communications (RCom) slipped 2% at Rs. 79.40. The company signed a Non-Binding Term Sheet with Tillman Global Holdings and TPG for sale of its tower assets and related infrastructure.

The scrip opened at Rs. 82.3 and has touched a high and low of Rs. 82.3 and Rs. 78.9 respectively. So far 9464556(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 20173.18 crore.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 105.8 on 05-Dec-2014 and a 52 week low of Rs. 45.65 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 86.6 and Rs. 73.5 respectively.

The promoters holding in the company stood at 59.7 % while Institutions and Non-Institutions held 29.58 % and 10.3 % respectively.

The stock is currently trading below its 50 DMA.

Sun Pharma up 3%; arm gets USFDA nod for Gleevec

Under the terms of a settlement agreement with Novartis, the Sun Pharma subsidiary is permitted to launch its version of generic Gleevec in the United States on February 1, 2016. The commercial launch of this product is scheduled for February 1, 2016.

Sun Pharma stock was up by 3% at Rs. 777 after company announced that one of its subsidiaries has received final approval from US FDA for its Abbreviated New Drug Application (ANDA) for generic version of Gleevec , Imatinib Mesylate tablets 100mg and 400mg Imatinib Mesylate tablets, 100 mg and 400 mg are therapeutic equivalents of Novartis’ Gleevec tablets.

As per IMS MAT August 2015, these tablets have annual sales of approximately US$ 2.5 billion in the US. These tablets are indicated for the treatment of chronic myeloid leukemia.

The Sun Pharma subsidiary, being the first-to-file an ANDA for generic Gleevec with a para IV certification, is eligible for 180-days marketing exclusivity in the US. Under the terms of a settlement agreement with Novartis, the Sun Pharma subsidiary is permitted to launch its version of generic Gleevec in the United States on February 1, 2016. The commercial launch of this product is scheduled for February 1, 2016. 

The scrip opened at Rs. 765 and has touched a high and low of Rs. 778.1 and Rs. 762.35 respectively. So far 2190054(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 181968.02 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1200.7 on 07-Apr-2015 and a 52 week low of Rs. 706.4 on 24-Nov-2015. Last one week high and low of the scrip stood at Rs. 773 and Rs. 722 respectively.

The promoters holding in the company stood at 54.71 % while Institutions and Non-Institutions held 35.62 % and 9.68 % respectively.

The stock is currently trading above its 200 DMA.

Coal India signs MOU with National Environmental Engineering Research

Coal India Ltd ended at Rs. 335.05, up by Rs. 0.55 or 0.16% from its previous closing of Rs. 334.5 on the BSE.

Coal India Ltd has announced that it has signed an MoU with National Environmental Engineering Research Institute.

Coal India Ltd ended at Rs. 335.05, up by Rs. 0.55 or 0.16% from its previous closing of Rs. 334.5 on the BSE.

The scrip opened at Rs. 334.9 and touched a high and low of Rs. 338.4 and Rs. 333 respectively. A total of 2132707(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 211629.64 crore.

The BSE group 'A' stock of face value Rs. 10 touched a 52 week high of Rs. 447.25 on 05-Aug-2015 and a 52 week low of Rs. 300.75 on 29-Sep-2015. Last one week high and low of the scrip stood at Rs. 346.5 and Rs. 329.55 respectively.

The promoters holding in the company stood at 79.65 % while Institutions and Non-Institutions held 17.48 % and 2.87 % respectively.

The stock traded below its 200 DMA.

Adani Ports eyes entry into Maharashtra, AP & Karnataka

Report says that the company has set a target of exceeding 200 MT of cargo handling by 2020 at an investment of Rs.9,000 crore.

Adani Ports is planning to complete its own ‘Sagarmala’ dream by having presence in the three key States of Maharashtra, Karnataka and Andhra Pradesh, according to reports.

Report says that the company has set a target of exceeding 200 MT of cargo handling by 2020 at an investment of Rs.9,000 crore, but it is likely to achieve it by 2018.

With this, the Adani Ports becomes the country’s largest ports operator in the private sector.

“We are also keen to have trans-shipment terminals in Southeast Asia, especially in Myanmar and Bangladesh, and also in East Africa, so that these facilities can serve the upcoming Vizhinjam facility,” Karan Adani, Executive Director of the APSEZ and son of group Chairman Gautam Adani reportedly said.

Adani Group operates nine ports which would have an installed capacity of 490 million tonnes (MT) by the next fiscal.

Tata Group eyes $350 bn market cap by 2025

Report says that the group is looking at an increase of nearly $250 bn by 2025, including through acquisitions.

Tata Group is looking at $350 bn market cap by 2025, according to reports.

Report says that the group is looking at an increase of nearly $250 bn by 2025, including through acquisitions.

The group is looking to build on the platform set up by its previous Chairman Ratan Tata, 

“At the turn of the century, we had a relatively small market cap of just under $8 billion. We have added a 100 billion dollars plus to that in the last 15 years. I am quite confident that this will continue to grow,” Member — Group Executive Council and Brand Custodian, Tata Sons, Mukund Rajan reportedly said.

The Tata Group has over 100 independent operating companies out of which 29 are publicly-listed. The group has been growing both in the publicly listed space and also in the unlisted space, he added.

“If you look at the true valuation of Tata enterprises (today) as a group, it would in fact be substantially higher than what the additional $100 billion of market cap represents,” Rajan added.

Tata Steel close to selling UK long products plant

Several funds are in the race to acquire Tata Steel’s long products business in Lincolnshire, it adds

Tata Steel is believed to be close to a deal to sell one of its UK steel plants, reports a domestic financial newspaper.

Several funds are in the race to acquire Tata Steel’s long products business in Lincolnshire, it adds.

According to The Sunday Telegraph, the company could reach a deal as early as next week after receiving formal bids from three parties.

Two of UK's biggest turnaround funds - Greybull and Endless are leading the race, along with an American private-equity firm, reports the business daily.

Tata Steel's long products business produces products that are used in the construction and heavy industries.

Separately, media reports suggest that Tata Steel is likely to cut 720 jobs at its Rotherham plant in South Yorkshire after talks to save redundancies failed.

In July, the company had said that it may have to cut jobs at its Rotherham plant, adding that it would work with the employees to minimise job losses.

The Rotherham unit makes steel bar products for the car manufacturers.