Unichem Laboratories gets USFDA approval for Irbesartan Tablets USP

Irbesartan Tablets USP 75mg, 150mg and 300mg are therapeutically equivalent to Avapro Tablets, 75mg, 150mg and 300 mg of Sanofi-aventis U.S.LLC.

Unichem Laboratories Limited has announce that it has received Final ANDA approval (Tentative Approval was received earlier) from the United States Food and Drug Administration (USFDA) for Irbesartan Tablets USP.

Irbesartan Tablets USP 75mg, 150mg and 300mg are therapeutically equivalent to Avapro Tablets, 75mg, 150mg and 300 mg of Sanofi-aventis U.S.LLC.

Irbesartan is indicated for the treatment of hypertension. It may be used alone or in combination with other antihypertensive agents. Irbesartan is also indicated for the treatment of diabetic nephropathy with an elevated serum creatinine and proteinuria (>300 mg/day) in patients with type 2 diabetes and hypertension. In this population, Irbesartan reduces the rate of progression of nephropathy as measured by the occurrence of doubling of serum creatinine or end-stage renal disease (need for dialysis or renal transplantation).

The product will be commercialized from Unichem’s Ghaziabad plant. Active Pharmaceutical Ingredient will also be made in house at Pithampur API Plant.

Unichem Laboratories Ltd is currently trading at Rs. 286.7, up by Rs. 11.1 or 4.03% from its previous closing of Rs. 275.6 on the BSE.

The scrip opened at Rs. 276.8 and has touched a high and low of Rs. 287.8 and Rs. 273 respectively. So far 31446(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 2503.11 crore.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 334 on 06-Oct-2015 and a 52 week low of Rs. 174 on 08-Jun-2015. Last one week high and low of the scrip stood at Rs. 288.2 and Rs. 274.2 respectively.

The promoters holding in the company stood at 50.11 % while Institutions and Non-Institutions held 18.36 % and 31.53 % respectively.

The stock is currently trading above its 50 DMA.

Government ensures availability of coal and gas to power projects

Government of India has taken a joint initiative with respective State Governments for preparation of State Specific Documents for providing 24x7 Power for all (PFA) to all

Government of India has taken a joint initiative with respective State Governments for preparation of State Specific Documents for providing 24x7 Power for all (PFA) to all. Government of India would assist the State Governments in achieving this objective. This was stated by Piyush Goyal, Minister of State for Power, Coal & New and Renewable Energy in a written reply to a question in the Rajya Sabha.

The Minister further stated that the non-generation of power to its capacity is linked to the type of power station (thermal/hydro). While the thermal units are meant to be utilized continuously as base-load units, hydro units are to be utilised both as base or peak load, depending on availability of water. Further, utilisation of installed capacity depends on a number of factors such as vintage of the unit, forced and planned outages, availability of water, schedule of power from beneficiary States and transmission / distribution constraints, etc.

Government has taken the following steps to ensure availability of coal and gas to power projects:

(i) Efforts have been made to increase the domestic coal production to meet the requirement of power plants. The growth in domestic coal supplied to power plants during 2014-15 was 10.4%.

(ii) Government of India has sanctioned a scheme for utilisation of gas based power generation capacity for the years 2015-16 and 2016-17. The scheme envisages supply of imported spot Re-gasified liquefied natural gas (RLNG) to the stranded gas based plants as well as plants receiving domestic gas, selected through a reverse e-bidding process.

The overall AT&C losses have reduced from 26.63% in 2011-12 to 22.70% in 2013-14.

Indian software market to reach $5.3 bn in 2016: Gartner

Indian software market is on track to reach $5.3 bn in 2016, a 12.8 percent increase from 2015, according to Gartner, Inc.

Indian software market is on track to reach $5.3 billion in 2016, a 12.8 percent increase from 2015, according to Gartner, Inc.

“The enterprise software marketplace is dynamic and ever-changing. Its growth and structure are being shaped by factors and forces of decentralized purchasing, consumerization, mobility, influence of other emerging markets, cloud-based implementations, and new consumption models,” said Bhavish Sood, research director at Gartner.

“In 2015, the Indian economy has shown signs of resurgence, with increased efforts by the government toward ease of doing business, which has triggered a significant increase in foreign direct investment (FDI) inflows,” Mr. Sood said. “FDI inflows in 2015 have grown to $30.9 billion, a 27 percent increase year over year. It is also evident that the Indian government is serious about leveraging information technology for effective governance.”

Corporations also want to know how to use digital technologies, services and disciplines to create new growth opportunities. Businesses are getting ready to digitally transform, creating new organizations, and leadership roles. This transformation is generating varying degrees of adoption, experimentation and spending in the newest technologies. Branded companies that sell to consumer markets are more rapidly purchasing and adopting digital applications to expand their digital footprint and strengthen their competitive positioning. Increasingly, Indian enterprises will be evaluating emerging technology solutions on innovation and business impact rather than cost and ease of deployment.

“It is also evident that the Indian government is serious about leveraging information technology for effective governance,” Mr. Sood said. “The Digital India initiative, MyGov citizen portal, the Self-Employment and Talent Utilization (SETU) program for startups, and smart cities initiatives are some examples. The Digital India initiative is centered around three areas: digital infrastructure as a utility to every citizen, governance and services on demand, and digital empowerment of citizens. These are further categorized into nine pillars, and clearly highlight ongoing activities in those three areas and timelines of completion for each of these initiatives.”

Lypsa Gems & Jewellery spurts 6% after bagging order

The company has bagged an order worth Rs. 467 million to supply diamonds to its customers in the UAE.

Lypsa Gems & Jewellery has rallied 6% to Rs. 137 after the company has bagged an order worth Rs. 467 million to supply diamonds to its customers in the UAE.

The scrip opened at Rs. 132.2 and has touched a high and low of Rs. 141.5 and Rs. 132.2 respectively. So far 209,320 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 271.88 crore.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 140.9 on 11-Nov-2015 and a 52 week low of Rs. 57.65 on 30-Jul-2015. Last one week high and low of the scrip stood at Rs. 132.5 and Rs. 113 respectively.

The promoters holding in the company stood at 36.02 % while Institutions and Non-Institutions held 0.98 % and 63 % respectively.

The stock is currently trading below its 50 DMA

Jaypee Group to sell its cement business

According to media reports Jaypee Group is planning to sell its cement business to tide over debts amounting to Rs. 61,285 crore.

According to media reports Jaypee Group is planning to sell its cement business to tide over debts amounting to Rs. 61,285 crore. This is the second cement company on the block after Reliance Cement.

Jaypee Group is the third largest cement producer in the country. Its cement facilities are located in the Satna Cluster (M.P.), which has one of the highest cement production growth rates in India. The group produces special blend of Portland Pozzolana Cement under the brand name ‘Jaypee Cement’ (PPC).

Last year, Ultratech Cement acquired cement units of Jaiprakash Associates in Madhya Pradesh for Rs. 5,400 crore and in June  Ultratech Cement purchased  Jaiprakash Associates’ two cement units in Gujarat for Rs. 3,800 crore. Dalmia Cement (Bharat) in joint venture with SAIL bought 74% stake in  Jaiprakash Associates’ Bokaro Cement unit for Rs. 690 crore, while Shree Cement acquired Jaiprakash Associates' Panipat cement unit for Rs. 358 crore. 

Aviation stocks surge; Jet Airways gains 3%

Jet Airways India Ltd stock was higher by 3% to Rs.576, while SpiceJet Ltd is up 2% to Rs.71.10.

Aviation stocks are trading higher. Jet Airways India Ltd stock was higher by 3% to Rs.576, while SpiceJet Ltd is up 2% to Rs.71.10. 

Jet Airways (India) Ltd is currently trading at Rs. 576.9, up by Rs. 18.7 or 3.35% from its previous closing of Rs. 558.2 on the BSE.

The scrip opened at Rs. 565.25 and has touched a high and low of Rs. 581.9 and Rs. 565.25 respectively. So far 3660409(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 6341.15 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 588 on 03-Dec-2015 and a 52 week low of Rs. 248.5 on 16-Jun-2015. Last one week high and low of the scrip stood at Rs. 588 and Rs. 506.1 respectively.

The promoters holding in the company stood at 51 % while Institutions and Non-Institutions held 14.09 % and 34.91 % respectively.

The stock is currently trading below its 50 DMA.

SpiceJet Ltd is currently trading at Rs. 70.9, up by Rs. 1.05 or 1.5% from its previous closing of Rs. 69.85 on the BSE.

The scrip opened at Rs. 71 and has touched a high and low of Rs. 71.8 and Rs. 70.6 respectively. So far 4112740(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 4187.16 crore.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 73.65 on 03-Dec-2015 and a 52 week low of Rs. 11.25 on 16-Dec-2014. Last one week high and low of the scrip stood at Rs. 73.65 and Rs. 65.35 respectively.

The promoters holding in the company stood at 60.32 % while Institutions and Non-Institutions held 0.61 % and 39.08 % respectively.

The stock is currently trading below its 50 DMA.

Oil shares in focus; Cairn India plunges 3.5%

Cairn India has plunged 3.5% to Rs. 131. The scrip opened at Rs. 133.7 and has touched a high and low of Rs. 133.7 and Rs. 130.6 respectively.

Shares of oil stocks are in focus on Tuesday due to falling crude oil prices and OPEC decision against slashing high output levels. The Organization of the Petroleum Exporting Countries’s move to keep crude production running at current levels resulted in oil futures reeling by nearly 6% to settle at $37.65 a barrel, which is a seven-year low.

Cairn India has plunged 3.5% to Rs. 131. The scrip opened at Rs. 133.7 and has touched a high and low of Rs. 133.7 and Rs. 130.6 respectively. So far 14,56,487 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 25432.51 crore.

Reliance Industries slipped 1% to Rs. 948. The scrip opened at Rs. 950.1 and has touched a high and low of Rs. 954 and Rs. 946.3 respectively. So far 661,544 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 308923.68 crore.

ONGC has slipped 3% to Rs.217.30.  The scrip opened at Rs. 222.5 and has touched a high and low of Rs. 222.5 and Rs. 216 respectively. So far 26,74,182 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 191728.53 crore.

Meanwhile, the Sensex is down 110 points to 25,420.

Chennai Floods! Royal Enfield to work full capacity by next week

We have had production loss of 7200 motorcycles due to the closure of both our manufacturing facilities between December 1- 6, 2015, said an official statement of Royal Enfield

The unprecedented rainfall in Chennai had severely affected the city and halted production in many auto companies including Royal Enfield's employees, their manufacturing facilities and offices. Now, since two days that the rains have stopped and the water has started receding, the companies are trying to come back on track. 

In this context, Royal Enfield has issued an official statement saying, “Due to heavy rains and flooding in Chennai, both of Royal Enfield's production facilities in Thiruvottiyur and Oragadam were shut since the 1st of December 2015. We resumed production of motorcycles on December 7, 2015. However, due to a high rate of absenteeism by our employees, and issues with our local suppliers - we will be running at approximately 50% capacity this week, and plan to be back up to 100% capacity by next week.

Prima facie, there is no damage to equipment or property and all our employees are safe and secure. We have had production loss of 7200 motorcycles due to the closure of both our manufacturing facilities between December 1- 6, 2015. Many parts of the supply chain still continue to be affected due to the aftermath of floods.

Due to the rains, in November we lost production of 4000 motorcycles.

We continue to monitor the situation closely and work in the best interest of all our stakeholders. We would be able to assess the insurance loss in due course, once the full normalcy is restored."

Amtek Auto zooms 9%;JP Morgan AMC sells Co debentures

Report says that JP Morgan Asset Management Company (AMC) has managed to sell the debt papers of Amtek Auto to a private equity firm at a 15% loss

Amtek Auto Ltd stock was higher by 9% at Rs. 50. Report says that JP Morgan Asset Management Company (AMC) has managed to sell the debt papers of Amtek Auto to a private equity firm at a 15% loss.

The scrip opened at Rs. 46.45 and has touched a high and low of Rs. 51.5 and Rs. 46.3 respectively. So far 9845539(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 1043.99 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 216.45 on 05-Dec-2014 and a 52 week low of Rs. 25.6 on 04-Sep-2015. Last one week high and low of the scrip stood at Rs. 49.8 and Rs. 41.6 respectively.

The promoters holding in the company stood at 49.99 % while Institutions and Non-Institutions held 20.93 % and 29.08 % respectively.

The stock is currently trading below its 200 DMA.

TCS flat after hitting 52-week low on Monday; IDFC Bank goes operational with TCS BaNCS

TCS stock has been trading on a 52-week low since Friday last week. The top IT firm of the country hit a new low value of Rs. 2316.65 on Monday.

Tata Consultancy Services (TCS) started flat on Tuesday. Meanwhile, the company announced that IDFC Bank has gone operational with TCS BaNCS for core banking services. IDFC Bank started operations on October 1, 2015, with 23 branches, powered by TCS BaNCS.

TCS stock has been trading on a 52-week low since Friday last week. The top IT firm of the country hit a new low value of Rs. 2316.65 on Monday.

The scrip opened at Rs. 2323 on Tuesday and has touched a high and low of Rs. 2329 and Rs. 2318 respectively. So far 55057(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 455221.47 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 2810 on 04-Mar-2015. Last one week high and low of the scrip stood at Rs. 2378.4 and Rs. 2316.65 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.

Rupee depreciates by 11 paise at 66.82 against US dollar

The currency touched a high and low of 67.03 and 67.07 respectively.

The Indian rupee opened lower by 10 paise at 66.82/$ in early trade on Tuesday. On the global front, Euro has firmed, responding to the European Central Bank's latest policy easing measures. ECB has cut its deposit facility rate to  ‐0.3% from  ‐0.2% and extended the monthly bond buying programme till March 2017. Market participants were surprised as the central bank did not increase the quantum of government bonds it buys each month. There was an expectation that the central bank will do more in order to avert the Euro region from the pangs of deflation. However, ECB is of the opinion that extension of QE and the re‐investment of principal will suffice. Meanwhile, the focus will be accentuated on US Fed policy meeting next week. Strong employment numbers in US has reinforced the perception of a rate hike in December. In this respect, US non‐farm payrolls were reported at better than expected at a solid 211,000. Unemployment rate remained steady at 5%. Effectively, Fed Forward rate curves suggest 79% probability of 25 basis points move on the rates. The volatility will increase as we move towards December 16th.

On Monday, Indian rupee ended at 66.72/$, higher by 2 paise from its previous close of 66.70/$ on Friday. The currency touched a high and low of 67.03 and 67.07 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.62 and for Euro stood at 72.40 on December 07, 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 100.6524.

Alkem Laboratories allots 37,66,358 equity shares to anchor investors

The Price includes a share premium of Rs. 1,048 per Equity Share of Face Value of Rs. 2 each for cash.

Alkem Laboratories Limited(“Company” or “Issuer”) has finalized the allocation of 37,66,358 Equity Shares at Rs. 1,050 (upper end of the Price Band) per Equity Share aggregating to Rs. 395.47 crore to Anchor Investors. The Price includes a share premium of Rs. 1,048 per Equity Share of Face Value of Rs. 2 each for cash.

The Anchor Investor allotment is as follows: Abu Dhabi Investment Authority - Behave; DSP Blackrock Mutual Fund - DSP Blockrock Small & Mid Cap Fund; Morgan Stanley Mauritius Company Limited, Apax Global Alpha Limited, SBI Pharma Fund, SBI Magnum Multiplier Fund, SBI Magnum Multiplier Fund, SBI Equity Opportunities Fund - Series II,  SBI Equity Opportunities Fund - Series IV, SBI Magnum Monthly Income Plan Floater, Kuwait Investment Authority A/C Kuwait Investment Auth FD 225, Grandeur Peak International Opportunities Fund, D. B. International (Asia) Ltd., Axis Mutual Fund Trustee Limited A/C Axis Mutual Fund A/c Axis Small Cap Fund, ICICI Prudential Top 100 Fund, Chennai 2007, C/O Harvard Management Co. Inc., Parvest Equity India, IDFC Classic Equity Fund, IDFC Monthly Income Fund, Kotak Mahindra (UK) Ltd. A/c India Bluechip (Mauritius) Ltd., HDFC Trustee Company Limited - HDFC Prudence Fund, HDFC Trustee Co Ltd. Premier Multicap Fund, HDFC Trustee Co Ltd. A/C HDFC Small and Mid Cap Fund, Franklin Templeton Mutual Fund A/C Templeton India Growth Fund, Templeton India Equity Income Fund, Franklin Templeton Mutual Fund A/C Templeton Prima Fund, HDFC Standard Life Insurance Company Ltd., Tata Balanced Fund, Kotak Classic Equity, Kotak Emerging Equity Scheme, Kotak Equity Saving Scheme, Kotak Midcap, Kotak Mahindra Balance Unit Scheme 99, Reliance Capital Trustee Co Ltd. A/C Reliance Equity Savings Fund, Reliance Capital Trustee Co Ltd. A/C Reliance Retirement Fund - wealth Creation Scheme, Reliance Capital Trustee Co Ltd. A/C Reliance Regular Savings Fund - Equity Option, Reliance Capital Trustee Co Ltd. A/C Reliance Pharma Fund, ICICI Prudential Life Insurance Company Ltd., UTI - Long Term Equity Fund (Tax Saving), UTI Pharma & Healthcare Fund, India Pharma Fund Unit Scheme Option A, Birla SunLife Trustee Company Private Limited A/C Birla Sun Life Emerging Leaders Fund - Series 3, Birla SunLife Trustee Company Private Limited A/C Birla Sun Life Emerging Leaders Fund - Series 4, Birla SunLife Trustee Company Private Limited A/C Birla Sun Life India GenNext Fund, Birla SunLife Trustee Company Private Limited A/C Birla Sun Life Emerging Leaders Fund - Series 1, Birla SunLife Trustee Company Private Limited A/C Birla Sun Life Advantage Fund and Birla SunLife Trustee Company Private Limited A/C India Advantage (Offshore) Fund.

ITC takes 87.06% equity share capital of Classic Infrastructure

CIDL is engaged in the business of property maintenance & management and its Networth as on March 31, 2015 and Profit after Tax for the year ended on that date are Rs. 8.44 crores and Rs. 20.16 lakhs, respectively.

ITC Limited has announced that Greenacre Holdings Limited (GHL) has acquired 87.06% of the equity share capital of Classic Infrastructure & Development Limited [CIDL an associate of Russell Credit Limited (RCL)], at an aggregate consideration of Rs.11.38 crores.

GHL is a wholly owned subsidiary of RCL, which a wholly owned subsidiary of ITC Limited (ITC).

CIDL having become a wholly owned subsidiary of GHL and also of RCL, has also become a wholly owned subsidiary of ITC with effect from December 7, 2015. CIDL is engaged in the business of property maintenance & management and its Networth as on March 31, 2015 and Profit after Tax for the year ended on that date are Rs. 8.44 crores and Rs. 20.16 lakhs, respectively.

Infosys, ITC, Ashoka Buildcon among 17 Stocks in focus today

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

Ashoka Buildcon Ltd: The company said that it has entered into a share purchase agreement with peer PNC Infratech Ltd to purchase 8.51% stake in Jaora-Nayagaon Toll Road Co. Pvt. Ltd (JTCL) for about Rs.34.19 crore.

ITC Limited: ITC has announced that Greenacre Holdings Limited (GHL) has acquired 87.06% of the equity share capital of Classic Infrastructure & Development Limited [CIDL an associate of Russell Credit Limited (RCL)], at an aggregate consideration of Rs.11.38 crores.

Infosys: Infosys intends to create 250 new jobs over the next three years in Ireland to develop new technologies and support innovation in global financial institutions, announced Taoiseach (Prime Minister) Enda Kenny and Richard Bruton, the Minister for Jobs, Enterprise and Innovation, Government of Ireland.

Jamna Auto Inds: Private equity firm Clearwater Capital Partners on Monday sold a 16.5 per cent stake in auto component maker Jamna Auto Industries Ltd. for about Rs. 77 crore through open market transactions.

Tata Chemicals: Tata Salt, part of the consumer products business of Tata Chemicals, is revamping packaging and distribution to boost visibility, reinforce identity, enhance reach and better engage with consumers, reports a financial newspaper.

Tata Consultancy Services: TCS announced that IDFC Bank has gone operational with TCS BaNCS for core banking services. IDFC Bank started operations on October 1, 2015, with 23 branches, powered by TCS BaNCS.

Poddar Developers: Poddar Developers Ltd. is looking to raise INR 600 crore from private equity (PE) firms for land acquisitions and project specific developments, as per media reports.

3I Infotech Ltd: The company will consider a proposal for the realignment of its debt with the lenders/lessors in India and holders of foreign currency convertible bonds (FCCBs)

ONGC: Rosneft is likely to join hands with ONGC Videsh Ltd. (OVL) for more upstream oil & gas projects, reports a business daily.

Tamil Nadu Newsprint & Papers Ltd: TNPL 300-acre factory at Mondipatti will commence commercial production in February, reports a business daily. Trial production will start next month, it adds.

Godrej Properties: Godrej Properties has sold 300 flats worth over Rs. 700 crore in just one week in its project at Vikhroli, Mumbai, even as the housing segment is facing huge demand slowdown.

Nihar Info Global: The company has entered into agreement with Trisa Retail for online sale of gold and silver items through their ecommerce portal www.goldnsilver.in.

Pincon Spirit: Pincon Spirit has acquired bottling unit of Indian Made Indian Liquor (CS Liquor) of National Industrial Corporation (Nicols) situated at Asansol, West Bengal.

Sadbhav Infrastructure Project: Sadbhav Infrastructure Project announced that Shreenathji-UdaipurTollway (SUTPL), a wholly-owned subsidiary of the company has received provisional completion certificate for 100% project stretch on Friday and accordingly toll collection has been started on the project from Dec 06, 2015.

Neyveli Lignite Corporation: Neyveli Lignite Corporation has taken all necessary steps to make up for the shortfall in production and power generation, as the mining activities take a hit following excessive rainfall.

GMR Group: The GMR Group plans to raise at least US$1 billion over the next two years to cut debt, repay investors in its airports business and prepare for a new phase of growth, CFO Madhu Terdal has been quoted as saying.

Coal India Ltd: Coal India has assessed a tentative capital investment of Rs. 57,000 crore for the next five years to ramp-up its coal production to 1 billion tonnes by 2019-20 from the production level of 494.80 metric tonnes in 2014-15, said Piyush Goyal, Minister of State (IC) for Power, Coal & New and Renewable Energy (IC) in a written reply to a question in the Rajya Sabha.