Sensex slips over 100 points; Nifty below 7,800 level

The BSE Mid-cap Index is trading down 0.35% at 10,951, whereas BSE Small-cap Index is trading down 0.12% at 11,612.

At 2:15 PM, the S&P BSE Sensex is trading at 25,607 down 129 points, while NSE Nifty is trading at 7,790 down 44 points.

The BSE Mid-cap Index is trading down 0.35% at 10,951, whereas BSE Small-cap Index is trading down 0.12% at 11,612.

Some buying activity is seen in pharma, consumer durable and telecom sectors, while IT, teck, auto, banking, metal, FMCG and energy sectors are showing weakness on BSE.

ICICI Bank, Axis Bank, Bharti Airtel, Sun Pharma, NTPC, Asian Paints, Tata Steel and SBI are among the gainers, whereas Infosys, TCS, M&M, ITC, HUL, Maruti Suzuki are losing sheen on BSE.

The India VIX (Volatility) index is up 0.63% to 14.3150. Out of 1,769 stocks traded on the NSE, 807 declined and 722 advanced today.

A total of 78 stocks registered a fresh 52-week high in trades today, while six stocks touched a new 52-week low on the NSE.

Indian Rupee extended its gain for the sixth consecutive session, opened at 66.31/$ higher by 4 paise in early trade on Tuesday as against the previous close of 66.39/$. On Monday, Indian rupee extended the recovery against the greenback, helped by sharp fall in oil prices and general softness in US dollar against the basket of currencies. RBI’s intervention in the Forex markets has also provided lot of stability to the Indian rupee. RBI has earlier announced plans of intervening in the exchange traded currency derivate markets as well in order to shield the currency from the volatility and repercussions of US Fed rate hike.

Diamond Power Infrastructure Ltd soared 2.3% to Rs.46.25 after the company has bagged an order from Powergrid NM Transmission Ltd for the supply of Conductors for 765 kV S/C (Quad Bersimic) Salem - Madhugiri Transmission Line associated with Nagapattinam Project under TBCB route vide award amounting to Rs. 44 crores.

Glenmark Pharmaceuticals Inc., USA (Glenmark) has been granted final approval by the United States Food & Drug Administration (U.S. FDA) for Linezolid Tablets, 600 mg, the therapeutic equivalent of Zyvox Tablets, 600 mg of Pharmacia and Upjohn Company, a subsidiary of Pfizer, Inc. According to IMS Health sales data for the 12 month period ending October 2015, the Zyvox Tablets, 600 mg market1 achieved annual sales of approximately $447.6 million.


NBCC zoomed 2.5% to Rs.1,013 on BSE. The All India Institute of Medical Sciences (AIIMS) has inked an MoU with the National Buildings Constructions Corporation Ltd (NBCC) to build the second phase of the existing trauma centre of the institution.

HDIL jumped 5% to Rs.73.90 on BSE. The company has sold 850,000 square feet of development rights in Kurla to a company belonging to the Mumbai-based Wadhawan Group for Rs. 649 crore, as per media reports.


Cadila Healthcare climbed 1.9% to Rs.395 on BSE. FIPB approved proposals of Cadila Healthcare on Monday. The pharma company was reconsidered by the FIPB following the changes made by the government in foreign direct investment policy last month.

Eros International Media rallied 2.8% to Rs. 256 on BSE.  Sanjay Leela Bhansali, Bajirao Mastani ended the opening weekend on a big high collecting Rs.90.80 crore worldwide – Rs.60.80 crore gross (Rs.46.77 crore NBOCC) in India and Rs.30 crore (USD 4.5 mn) overseas. The film showed upward graph through the weekend with collection showing a jump of 21% on Saturday over Friday and 44% jump on Sunday over Friday multiplexes across India.


Tide Water Oil (India) Ltd hits 20% upper limit to Rs.20,798 on BSE. The company informed BSE that a meeting of the Board of Directors of the Company will be held on January 15, 2016, inter alia, to consider and take on record the Unaudited Standalone Financial Results of the Company for the quarter and nine months ended December 31, 2015, together with the Limited Review Report thereon, in terms of Clause 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Clause 41 of the Listing Agreement with the Stock Exchanges.In the said meeting, the Board of Directors will also consider declaration of bonus issue and share split to/for the shareholders at such rate/ratio to be decided therein.


The Board of the Bank has permitted the Bank to raise additional capital of Rs. 2,400 crore through issue of BASEL-III compliant Tier II Bonds by way of Private Placement at a Coupon Rate as decided by the Bond Committee of the Bank to support the asset growth during 2015-16 & also to maintain healthy level of CRAR.

The Bank received ratings of "IND AAA"; Outlook Stable from India Ratings & Research Private Limited (a Fitch Group Company) for the proposed issue of the said Bonds.

Windsor Machines hits 20% upper limit at Rs.43.90 on BSE.

Gammon India rallied for the second consecutive session on BSE. Currently, the stock is up 9.9% to Rs. 18.30 on BSE. Lenders to Gammon India Ltd. will convert Rs. 245 crore worth of debt to a 60.10% equity stake under the strategic debt restructuring (SDR) norms. The company said in a stock exchange filing on Friday that a 12-member consortium, led by ICICI Bank, will convert part of its debt to majority equity at Rs. 11.89 per share. The conversion under SDR is done at fair value - which is lower than market price, or book value, or face value, whichever is higher. 

Eon Electric hits 5% upper circuit to Rs.79.35 on BSE. The company has secured an extension to the ongoing LED streetlights installation project aimed at transforming the conventional streetlights to LED lights in Jodhpur.



Granules India plunged 3.5% to Rs.152.10 on BSE. The drug firm Granules India has received three observations from the USFDA for its Jeedimetla, Hyderabad facility during a recent inspection.

RCom in talks with Aircel for merger?

Reliance Communications is, reportedly, in talks with Aircel for wireless business.

Reliance Communications (RCOM) is in talks with Aircel to consider the potential merger of the Indian wireless business of RCOM and Aircel.

The potential combination will exclude RCOM’s towers and optical fibre infrastructure,
for which RCOM is proceeding with an asset sale, as announced on December 4, 2015.

RCom informed BSE in a statement, "The discussions are non-binding in nature. Any transaction will be subject to due diligence, definitive documentation and regulatory, shareholders’ and other third party approvals. Hence, there is no certainty that any transaction will result."

Stock commentary:

Reliance Communications Ltd is currently trading at Rs. 84.25, up by Rs. 0.55 or 0.66% from its previous closing of Rs. 83.7 on the BSE.

The scrip opened at Rs. 83.7 and has touched a high and low of Rs. 84.55 and Rs. 83.2 respectively. So far 4804964(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 20832.76 crore.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 86.85 on 19-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. 84.5 and Rs. 79.45 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.

Granules India plunges 3.5%; 3 observations from USFDA

Granules India has received three observations from the USFDA for its Jeedimetla, Hyderabad facility during a recent inspection.

Granules India plunged 3.5% to Rs.152.10 on BSE. The drug firm Granules India has received three observations from the USFDA for its Jeedimetla, Hyderabad facility during a recent inspection. The scrip opened at Rs. 156.8 and has touched a high and low of Rs. 157 and Rs. 148.85 respectively. So far 1155603(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 3300.51 crore.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 164.45 on 01-Dec-2015 and a 52 week low of Rs. 73.3 on 19-Dec-2014. Last one week high and low of the scrip stood at Rs. 161.35 and Rs. 147 respectively.

The promoters holding in the company stood at 48.43 % while Institutions and Non-Institutions held 8.27 % and 43.3 % respectively.

The stock is currently trading above its 50 DMA.

Marico to issue bonus shares; falls by 4.35%

Marico Ltd falls after the stock turned ex-bonus. The company will issue one bonus share on each unit held by shareholders.

Marico Ltd falls by 4.35% to Rs 221 after the stock turned ex-bonus. The company will issue one bonus share on each unit held by shareholders.

The scrip opened at Rs. 225.8 and has touched a high and low of Rs. 225.8 and Rs. 217 respectively. So far 2664072(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 29809.41 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 468.4 on 21-Dec-2015 and a 52 week low of Rs. 315.75 on 12-Jan-2015. Last one week high and low of the scrip stood at Rs. 468.4 and Rs. 430.5 respectively.

The promoters holding in the company stood at 59.67 % while Institutions and Non-Institutions held 32.96 % and 7.37 % respectively.

The stock is currently trading above its 100 DMA.

State Bank of India gains; bank to raise Rs. 12,000 crore

The Committee of Directors, duly authorized by the Board, in their meeting, authorized the Bank to raise upto Rs. 12,000 crores (Rupees Twelve thousand crores), by way of issue of Basel III compliant Tier II bonds, through private placement

State Bank of India has informed BSE that the Committee of Directors, duly authorized by the Board, in their meeting held on December 21, 2015, inter-alia, authorized the Bank to raise upto Rs. 12,000 crores (Rupees Twelve thousand crores), by way of issue of Basel III compliant Tier II bonds, at par, through private placement, in such number of tranche(s), at such time(s) as may be considered appropriate and on such coupon(s) as may be decided at time of actual issuance.

The stock is currently trading at Rs. 231.55, up by Rs. 1.2 or 0.52% from its previous closing of Rs. 230.35 on the BSE.

The scrip opened at Rs. 232.1 and has touched a high and low of Rs. 232.3 and Rs. 230.4 respectively. So far 2491043(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 178815.57 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 335.9 on 28-Jan-2015 and a 52 week low of Rs. 220.6 on 07-Sep-2015. Last one week high and low of the scrip stood at Rs. 232.5 and Rs. 224 respectively.

The promoters holding in the company stood at 60.18 % while Institutions and Non-Institutions held 28.73 % and 9.09 % respectively.

The stock is currently trading above its 200 DMA.

Kolte Patil up 2%; Board approves scheme of amalgamation of Jasmine Hospitality

The Board of Directors of the Company at its meeting held on December 21, 2015 has considered and approved the Scheme of amalgamation of Jasmine Hospitality Private Limited, 100% Wholly Owned Subsidiary. This merger is being planned in order to synergize the operational and business efficiencies of this Company.

Kolte Patil Developers stock was up by 2% at Rs. 140. 

The Board of Directors of the Company at its meeting held on December 21, 2015 has considered and approved the Scheme of amalgamation of Jasmine Hospitality Private Limited, 100% Wholly Owned Subsidiary. This merger is being planned in order to synergize the operational and business efficiencies of this Company. 

The scrip opened at Rs. 139 and has touched a high and low of Rs. 140 and Rs. 138 respectively. So far 41705(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 1039.56 crore.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 240 on 06-Apr-2015 and a 52 week low of Rs. 135.2 on 21-Dec-2015. Last one week high and low of the scrip stood at Rs. 141.3 and Rs. 135.2 respectively.

The promoters holding in the company stood at 74.54 % while Institutions and Non-Institutions held 12.15 % and 13.32 % respectively.

The stock is currently trading above its 200 DMA.

Cadila Healthcare climbs after FIBP approval

The pharma company was reconsidered by the FIPB following the changes made by the government in foreign direct investment policy last month.

Cadila Healthcare climbed 1.9% to Rs.395 on BSE. FIPB approved proposals of Cadila Healthcare on Monday. The pharma company was reconsidered by the FIPB following the changes made by the government in foreign direct investment policy last month.

The scrip opened at Rs. 395.05 and has touched a high and low of Rs. 397 and Rs. 394.05 respectively. So far 329761(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 39695.62 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 454.4 on 23-Oct-2015 and a 52 week low of Rs. 285.02 on 05-Feb-2015. Last one week high and low of the scrip stood at Rs. 403.4 and Rs. 386.7 respectively.

The promoters holding in the company stood at 74.79 % while Institutions and Non-Institutions held 15.08 % and 10.13 % respectively.

The stock is currently trading above its 50 DMA.

RCom real estate sale and other top real estate news of the day

Round up of the major headlines that dominated the Real Estate sector, nationally and internationally.

Fair trade regulator CCI has rejected allegations of anti-competitive business practices made against real estate developer Imperial Housing Ventures.

Adani Green Energy, a subsidiary of Adani Enterprises, has acquired 100% equity stake in Ahmedabad-based Duryodhana Developers, Adani Enterprises said in a regulatory statement on stock exchange. 

Reliance Communications (RCom) has sold nearly 150 residential flats at its Sea Woods complex in Navi Mumbai, marking the monetisation of its surplus real estate, for about Rs. 330 crore. The company, controlled by billionaire Anil Ambani, will use the proceeds to repay debt.

Realty experts believe that the year 2016 will begin on a positive note for the sector and may witness a pick up in sales with an improvement in the number of unsold inventories.

Accredited crowdfunding platform RealtyShares announced it has reached more than $100 million invested to date. Each investment was made on the platform from accredited and institutional investors who have invested in over 270 transactions involving over 1,500 different properties.

Overseas investors looking to park their money in Canadian real estate could soon be donning headsets and touring upcoming condo developments in virtual reality, according to the founder of a Toronto-based technology firm.

Strides Arcolab closes QIP issue

The board approved the issue price of Rs. 1,278/- per Equity Share (including premium of Rs. 1,268/- per equity share)

Strides Arcolab Ltd has announced that, in respect of the QIP which was opened by the Company on December 17, 2015, the QIP Committee of the Company , on December 21, 2015, has approved the following:

Closure of issue period of the QIP on December 21, 2015;

Approved the issue price of Rs. 1,278/- per Equity Share (including premium of Rs. 1,268/- per equity share). The issue price is at a discount of 4.97% to the floor price of Rs. 1,344.78 per Equity Share, in accordance with proviso to Regulation 85(1) of SEBI ICDR Regulations; and

Approved and adopted the Placement Document dated December 21, 2015, in connection with the QIP.

Strides Shasun Ltd is currently trading at Rs. 1308.2, up by Rs. 0.2 or 0.02% from its previous closing of Rs. 1308 on the BSE.

The scrip opened at Rs. 1315 and has touched a high and low of Rs. 1316.6 and Rs. 1308.2 respectively. So far 42921(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 10548.1 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1412.45 on 23-Nov-2015 and a 52 week low of Rs. 822.2 on 10-Feb-2015. Last one week high and low of the scrip stood at Rs. 1332 and Rs. 1255.05 respectively.

The promoters holding in the company stood at 34.38 % while Institutions and Non-Institutions held 39.3 % and 26.32 % respectively.

The stock is currently trading above its 50 DMA.

Glenmark Pharmaceuticals receives ANDA approval for Linezolid Tablets

According to IMS Health sales data for the 12 month period ending October 2015, the Zyvox Tablets, 600 mg market achieved annual sales of approximately $447.6 million.

Glenmark Pharmaceuticals Inc., USA (Glenmark) has been granted final approval by the United States Food & Drug Administration (U.S. FDA) for Linezolid Tablets, 600 mg, the therapeutic equivalent of Zyvox Tablets, 600 mg of Pharmacia and Upjohn Company, a subsidiary of Pfizer, Inc.

According to IMS Health sales data for the 12 month period ending October 2015, the Zyvox Tablets, 600 mg market1 achieved annual sales of approximately $447.6 million.

Glenmark's current portfolio consists of 104 products authorized for  distribution  in the U.S. marketplace and 62 ANDA's pending approval with the U.S. FDA. In addition to these internal filings, Glenmark continues  to  identify  and  explore external development partnerships to supplement and accelerate the growth of its existing  pipeline and portfolio.

All brand names and trademarks are the property of their respective  owners. Market includes brand and all available therapeutic equivalents IMS Health National Sales Perspectives: Retail & Non-Retail, October 2015.

Glenmark Pharmaceuticals Ltd is currently trading at Rs. 946.55, up by Rs. 19.15 or 2.06% from its previous closing of Rs. 927.4 on the BSE.

The scrip opened at Rs. 929 and has touched a high and low of Rs. 950 and Rs. 921.4 respectively. So far 239672(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 26167.35 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1261.95 on 21-Aug-2015 and a 52 week low of Rs. 703.5 on 07-Jan-2015. Last one week high and low of the scrip stood at Rs. 935 and Rs. 853 respectively.

The promoters holding in the company stood at 46.45 % while Institutions and Non-Institutions held 42.81 % and 10.75 % respectively.

The stock is currently trading above its 100 DMA.

Order win! Diamond Power Infrastructure soars 2.3%

The company has bagged an order from Powergrid NM Transmission Ltd for the supply of Conductors for 765 kV S/C (Quad Bersimic) Salem - Madhugiri Transmission Line.

Diamond Power Infrastructure Ltd soared 2.3% to Rs.46.25 after the company has bagged an order from Powergrid NM Transmission Ltd for the supply of Conductors for 765 kV S/C (Quad Bersimic) Salem - Madhugiri Transmission Line associated with Nagapattinam Project under TBCB route vide award amounting to Rs. 44 crores.

The scrip opened at Rs. 45.4 and has touched a high and low of Rs. 46 and Rs. 45.2 respectively. So far 71677(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 257.64 crore.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 81.9 on 05-Jan-2015 and a 52 week low of Rs. 32.7 on 11-Nov-2015. Last one week high and low of the scrip stood at Rs. 46.45 and Rs. 38.5 respectively.

The promoters holding in the company stood at 32.89 % while Institutions and Non-Institutions held 19.66 % and 47.45 % respectively.

The stock is currently trading below its 200 DMA.

Rupee opens higher at 66.31/$

The currency touched a high and low of 66.30 and 66.34 respectively. Indian rupee extended the recovery against the greenback, helped by sharp fall in oil prices and general softness in US dollar against the basket of currencies.

Indian rupee extended its gain for the sixth consecutive session and opened at 66.31/$ higher by 4 paise in early trade on Tuesday as against the previous close of 66.39/$. On Monday, Indian rupee was up against the greenback, helped by sharp fall in oil prices and general softness in US dollar against the basket of currencies. RBI’s intervention in the Forex markets has also provided lot of stability to the Indian rupee. RBI has earlier announced plans of intervening in the exchange traded currency derivate markets as well in order to shield the currency from the volatility and repercussions of US Fed rate hike.

On global macroeconomic front, private survey of 2,100 Chinese firms reveals that national sales revenue, volumes, output, prices, profits, hiring, borrowing and capital expenditures of various companies were all weaker on qoq basis. The profit numbers are particularly disturbing, with the share of firms reporting profit gains slipping to the lowest level since mid‐2012. Only 14% of firms were reported to be borrowing, the lowest level ever recorded in the survey.

On Monday, Indian rupee ended at 66.35/$, marginally higher by 4 paise.The currency touched a high and low of 66.30 and 66.34 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.32 and for Euro stood at 72.13 on December 21, 2015. While, the RBI’s reference rate for the Yen stood at 54.67, the reference rate for the Great Britain Pound (GBP) stood at 98.9886.  

Bombay HC approves amalgamation of Clear Mipak Packaging with Hitech Plast

Hitech Plast Ltd has announced that the Company has received certified copy of the Order dated November 20, 2015 passed by the High Court of Judicature at Bombay approving the Scheme of Amalgamation.

Hitech Plast Ltd has announced that the Company has received certified copy of the Order dated November 20, 2015 passed by the Hon'ble High Court of Judicature at Bombay approving the Scheme of Amalgamation of Clear Mipak Packaging Solutions Limited (Transferor Company) with Hitech Plast Ltd. (Transferee Company) on December 14, 2015.

The same has been filed to the Registrar of Companies, Maharashtra, Mumbai on December 17, 2015.

Hitech Plast Ltd ended at Rs. 190.6, up by Rs. 3.7 or 1.98% from its previous closing of Rs. 186.9 on the BSE.

The scrip opened at Rs. 189.7 and touched a high and low of Rs. 196 and Rs. 187.6 respectively. A total of 130888(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 289.25 crore.

The BSE group 'B' stock of face value Rs. 10 touched a 52 week high of Rs. 209.7 on 16-Dec-2015 and a 52 week low of Rs. 80 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 209.7 and Rs. 163 respectively.

The promoters holding in the company stood at 71.06 % while Institutions and Non-Institutions held 0.03 % and 28.91 % respectively.

The stock traded below its 50 DMA.