DLF says funding worth Rs.1,992 crore received from GIC

DLF Home Developers Ltd. (DHDL), a wholly-owned subsidiary of DLF Ltd and GIC, Singapore’s sovereign wealth fund have signed an agreement to enter into a joint venture to invest in two upcoming projects located in Central Delhi.

With reference to the earlier intimations dated September 02, 2015 and November 16, 2015 wherein the Company had announced that DLF Home Developers Ltd. (DHDL), a wholly-owned subsidiary of DLF Ltd and GIC, Singapore’s sovereign wealth fund have signed an agreement to enter into a joint venture to invest in two upcoming projects located in Central Delhi.

DLF Ltd has announced that subsequent to receipt of CCI approval and having met other pre-closing conditions, the funding for the above said transaction has been concluded on December 23, 2015 with the receipt of Rs. 1,992 crore from GIC, Singapore’s sovereign wealth fund.

DLF Ltd is currently trading at Rs. 115.8, up by Rs. 2.4 or 2.12% from its previous closing of Rs. 113.4 on the BSE.

The scrip opened at Rs. 114.5 and has touched a high and low of Rs. 116 and Rs. 113.8 respectively. So far 6543590(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 20220.65 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 179 on 04-Feb-2015 and a 52 week low of Rs. 93 on 24-Aug-2015. Last one week high and low of the scrip stood at Rs. 117.7 and Rs. 109 respectively.

The promoters holding in the company stood at 74.86 % while Institutions and Non-Institutions held 19.84 % and 5.3 % respectively.

The stock is currently trading above its 200 DMA.

L&T Infotech named as Star Performer for Analytics in Global Insurance

The report titled “IT Outsourcing in Global Insurance – Service Provider Landscape with PEAK Matrix Assessment 2015: Driving Differentiation through Digital” (the “Report”) assessed 21 leading application outsourcing (“AO”) service providers based on parameters related to scale and scope of operation, technology, domain investments, delivery footprint, innovation, buyer satisfaction and resultant market success in the context of a given outsourcing function.

Larsen & Toubro Infotech has been named as one of the ‘Star Performers’ and ‘Major Contenders’ in the service provider landscape for Analytics in Global Insurance in Everest Group’s PEAK Matrix Assessment 2015.

The report titled “IT Outsourcing in Global Insurance – Service Provider Landscape with PEAK Matrix Assessment 2015: Driving Differentiation through Digital” (the “Report”) assessed 21 leading application outsourcing (“AO”) service providers based on parameters related to scale and scope of operation, technology, domain investments, delivery footprint, innovation, buyer satisfaction and resultant market success in the context of a given outsourcing function.

According to the Report, the distinguishing features of market success of L&T Infotech include recording of more than 50% of the annualized contract value (ACV) growth from large AO deals as well as the addition of two new large insurance AO deals bagged in 2014. L&T Infotech has been featured as a ‘Star Performer’ twice in the last three years, a reflection of consistent performance across all dimensions of Delivery Capability and Market Success. Moreover, the report also recognizes L&T Infotech’s launch of new accelerators and solutions, across the insurance value-chain and investments in product development centers.

“The need of insurance firms to introduce differentiated products and services, enhance customer experience, and contain costs are driving service providers’ investments in digital portfolios, insurance-specific products and platforms, as well as the adoption of innovative engagement models. A consistent double digit growth in its insurance AO business, sustained focus on enhancing its proprietary portfolio with domain-centric solutions, investments in building digital transformation expertise, and a focus on managed services capabilities helped L&T Infotech enhance its position as a Major Contender, as well as lead to its designation as a Star Performer, on the 2015 Everest Group Insurance AO PEAK Matrix,” said Jimit Arora, Vice President, Everest Group.

Speaking on the achievement, Sanjay Jalona, Chief Executive Officer & Managing Director, L&T Infotech, said, “This achievement signifies our ability to help our clients realize critical business outcomes and growth in a highly competitive environment. We will continue to build capabilities in the areas of automation and digitization to differentiate our offerings.”

Bank of India to raise Rs.1,500 crore via Tier-II Bonds

The Bank intends to issue Unsecured, Non convertible, Redeemable, Basel III Compliant Tier II Bonds for an amount of Rs. 1,500 crore with a green shoe option of Rs. 1500 crore at an appropriate time.

Bank of India has informed BSE that the Bank intends to issue Unsecured, Non convertible, Redeemable, Basel III Compliant Tier II Bonds for an amount of Rs. 1,500 crore with a green shoe option of Rs. 1500 crore at an appropriate time.

Bank of India is currently trading at Rs. 117.25, up by Rs. 0.8 or 0.69% from its previous closing of Rs. 116.45 on the BSE.

The scrip opened at Rs. 117.3 and has touched a high and low of Rs. 117.6 and Rs. 116.9 respectively. So far 771372(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 9221.83 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 311.75 on 02-Jan-2015 and a 52 week low of Rs. 113 on 14-Dec-2015. Last one week high and low of the scrip stood at Rs. 120.15 and Rs. 115.7 respectively.

The promoters holding in the company stood at 70.13 % while Institutions and Non-Institutions held 21.08 % and 8.79 % respectively.

The stock is currently trading above its 200 DMA.

Idea Cellular likely to start 4G services in Mysore today

Idea soon plans to launch services in two-tier towns in Andhra Pradesh, Kerala and Tamil Nadu and then extend the services to Karnataka, Chennai, Madhya Pradesh, Punjab, Haryana, Maharashtra, North East, Orissa, Gujarat, Uttar Pradesh (West).

Idea Cellular is likely to mark its entry into 4G services today starting from Mysore, according to reports.

The company has initially switched on 1,000 sites with 4G signals. Idea soon plans to launch services in two-tier towns in Andhra Pradesh, Kerala and Tamil Nadu and then extend the services to Karnataka, Chennai, Madhya Pradesh, Punjab, Haryana, Maharashtra, North East, Orissa, Gujarat, Uttar Pradesh (West).

To attract customers, Idea has initiated pre-booking of 4G services and has been offering 1GB 4G data free of cost for early-bird subscribers. The company plans to notify the 4G subscribers after it launches 4G services in the selected area.

Wockhardt wrecks over 2%; gets Form 483 for Ankleshwar unit

The company has received Form 483 from the US Food and Drug Administration (USFDA) for the company’s Ankleshwar unit.

Shares of Wockhardt are currently trading 2.25% lower at Rs. 1,577 on BSE after the company received Form 483 from the US Food and Drug Administration (USFDA) for the company’s Ankleshwar unit.

The company will respond to the FDA within 15 days.

The scrip opened higher at Rs. 1,620 as against its previous close of Rs. 1,612.85. It hit a high and a low of Rs. 1,634 and Rs. 1,534.95 respectively. So far, 2.01 lk shares have changed hands on BSE.

An FDA Form 483 is issued to firm management at the conclusion of an inspection when an investigator(s) has observed any conditions that in their judgement may constitute violations of the Food Drug and Cosmetic (FD&C) Act and related Acts. FDA investigators are trained to ensure that each observation noted on the FDA Form 483 is clear, specific and significant. Observations are made when in the investigator’s judgement, conditions or practices observed would indicate that any food, drug, device or cosmetic has been adulterated or is being prepared, packed, or held under conditions whereby it may become adulterated or rendered injurious to health.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 2000 on 08-Apr-2015 and a 52 week low of Rs. 919.5 on 22-Dec-2014. Last one week high and low of the scrip stood at Rs. 1654 and Rs. 1577 respectively.

The promoters holding in the company stood at 74.2 % while Institutions and Non-Institutions held 11.63 % and 14.04 % respectively.

The stock is currently trading above its 50 DMA

SEBI clears shares tendered by LIC in Essar Oil delisting

The delisting offer which was to close yesterday got struck due to ‘technical’ issues as the bids were received for an an estimated 10.1 crore shares, as against a requirement for 9.26 crore shares for the offer to succeed.

According to reports, SEBI has cleared shares tendered by LIC in Essar Oil delisting.

The delisting offer which was to close yesterday got struck due to ‘technical’ issues as the bids were received for an an estimated 10.1 crore shares, as against a requirement for 9.26 crore shares for the offer to succeed.

The bids from LIC came within the scheduled time but some 'technical issues' led to the LIC shares remaining in the 'unconfirmed category'.

Essar Oil Ltd is currently trading at Rs. 253.6, up by Rs. 13.6 or 5.67% from its previous closing of Rs. 240 on the BSE.

The scrip opened at Rs. 243.5 and has touched a high and low of Rs. 254.7 and Rs. 243.5 respectively. So far 1916835(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 36302.26 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 249.8 on 22-Dec-2015 and a 52 week low of Rs. 98 on 05-Jun-2015. Last one week high and low of the scrip stood at Rs. 249.8 and Rs. 216.3 respectively.

The promoters holding in the company stood at 24.89 % while Institutions and Non-Institutions held 3.24 % and 6.26 % respectively.

The stock is currently trading below its 50 DMA.

Smashing Debut! Dr Lal Pathlabs and Alkem open 30% higher from issue price

Dr. Lal Pathlabs’s IPO, through which the diagnostic chain raised Rs. 638 crore, was over-subscribed 33.41 times.

After receiving overwhelming response from the retail as well as institutional investors for their initial public offerings (IPOs), both Dr. Lal Pathlabs and Alkem Laboratories today opened 31.42% and 30.36% higher over their respective issue price of Rs. 550 and Rs. 1,050.

Shares of Dr. Lal Pathlabs are currently trading higher at Rs. 778 after opening higher at Rs. 717 over its issue price. It touched a high of Rs. 782 and a low of Rs. 715.50. So far, 25.21 lk shares have changed hands on BSE.

Dr. Lal Pathlabs’s IPO, through which the diagnostic chain raised Rs. 638 crore, was over-subscribed 33.41 times. In addition, the company raised Rs. 191 crore via offering shares at Rs. 550 apiece to the anchor investors.

The promoter and promoter group raised the aforementioned amount via an offer for sale issue of 1.16 crore equity shares. According to the company’s Chairman Dr Arvind Lal, the IPO proceeds will not be utilize for any particular purpose as of now. The company has ample cash to meet business expenses and expansion costs.

The Delhi-based company has a pan-India presence with a strong network of 172 clinical laboratories 1,554 patient service centers and over 7,000 pickup points. The company also plans to expand its footprints in neighboring Asian countries.

Shares of Alkem Lab are currently trading lower at Rs. 1,378.50 after opening at Rs. 1,380. It touched a high of Rs. 1,401.40 and a low of Rs. 1,355.40. So far, 14.17 lk shares have changed hands on BSE.

Shares of Alkem Laboratories has seen a robust debut on the exchanges Wednesday. The pharma stock is listed at Rs 1380 per share, up 31 percent from its issue price of Rs 1050 per share. It touched intraday high of Rs 1399 per share on the NSE.

Alkem Laboratories, India’s fifth largest domestic drug maker, raised Rs. 1,350 crore via its IPO which was open from December 8-10, 2015. The public issues was over-subscribed 44.29 times. The QIB quota was over-subscribed by 57.19 times, while in non-institutional segment, the issue was over-subscribed by 129.96 times.

Reinstating the faith of retain investors in the primary market, the IPO received 3.17 times subscription from retail investors.

Godrej Properties stock flat; Godrej Industries sells over 2% stake in Company

Godrej Industries has sold 40.05 lakh shares in three tranches on December 18 and 21 at Rs 330 per share

Godrej Industries has sold over 2% stake in Godrej Properties in open market for Rs. 132.18 crore, according to reports.

Report says that Godrej Industries has sold a total of 40.05 lakh shares in three tranches on December 18 and 21 at Rs 330 per share.

Godrej Properties is currently trading at Rs. 342.85, up by Rs. 1.35 or 0.4% from its previous closing of Rs. 341.5 on the BSE.

The scrip opened at Rs. 343 and has touched a high and low of Rs. 346.4 and Rs. 342.3 respectively. So far 60806(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 6813.42 crore.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 374.5 on 20-Oct-2015 and a 52 week low of Rs. 231.55 on 30-Apr-2015. Last one week high and low of the scrip stood at Rs. 348 and Rs. 325.5 respectively.

The promoters holding in the company stood at 74.86 % while Institutions and Non-Institutions held 10.01 % and 15.13 % respectively.

The stock is currently trading below its 50 DMA.

Suven Life Sciences secures 7 product patents overseas; stock surges 4%

The company announced today that it has secured product patents in ARIPO (AP 3340), Europe (2611444), Hong Kong (HK1187613), Japan (5805795) Macau (J/001756 & J/001848) and South Korea (10-1554407) to their New Chemical Entities (NCE’s) for CNS therapy through mechanism of action – H3 Inverse agonist and these patents are valid until 2031.

Shares of Suven Life Sciences Ltd are currently trading 4.44% higher at Rs. 266.95 on BSE after the company announced securing 7 product patents overseas.

The company announced today that it has secured product patents in ARIPO (AP 3340), Europe (2611444), Hong Kong (HK1187613), Japan (5805795) Macau (J/001756 & J/001848) and South Korea (10-1554407) to their New Chemical Entities (NCE’s) for CNS therapy through mechanism of action – H3 Inverse agonist and these patents are valid until 2031. The granted claims of the patent include the class of selective H3 ligands discovered by Suven and are being developed as therapeutic agents and are useful in the treatment of cognitive impairment associated with neurodegenerative disorders.

With these new patents, Suven has a total of 1 granted product patent in ARIPO, 19 granted patents from Europe, 18 granted patents from Hong Kong, 18 granted patents from Japan, 7 granted patents from Macau and 18 granted patents from South Korea. These granted patents are exclusive intellectual property of Suven and are achieved through the internal discovery research efforts. Products out of these inventions may be out-licensed at various phases of clinical development like at Phase-I or Phase-II.

“We are very pleased by the grant of these patents to Suven for our pipeline of molecules in CNS arena that are being developed for cognitive disorders with high unmet medical need with huge market potential globally” says Venkat Jasti, CEO of Suven.

Aurobindo Pharma surges on entering EU market for biosimilars

The Hyderbad-based drug maker is planning to enter the European markets for biosimilar drugs.

Shares of Aurobindo Pharma are currently trading 0.69% higher at Rs. 845 on BSE on reports that the Hyderbad-based drug maker is planning to enter the European markets for biosimilar drugs.

The scrip opened higher at Rs. 842 as against its previous close of Rs. 840.55. It hit a high and a low of Rs. 850 and Rs. 842 respectively. So far, 17,000 shares have changed hands on BSE.

Blockbuster debut! Alkem and Dr Lal Pathlabs open 30% highe

After receiving overwhelming response from retail as well as institutional investors for their IPOs, both Alkem Laboratories and Dr. Lal Pathlabs made impressive gains in early hours of listing.

After receiving overwhelming response from the retail as well as institutional investors for their initial public offerings (IPOs), both Alkem Laboratories and Dr. Lal Pathlabs today opened 31.42% and 30.36% higher over their respective issue price of Rs. 1,050 and Rs. 550.

Shares of Alkem Lab opened at Rs. 1,380 and touched a high of Rs. 1,401.40 and a low of Rs. 1,355.40. So far, 10.54 lk shares have changed hands on BSE.

Similarly, shares of Dr Lal Pathlabs opened at Rs. 717 and touched a high of Rs. 747 and a low of Rs. 715.50. So far, 13.30 lk shares have changed hands on BSE.

L&T bags orders worth Rs.1178 crore in December

Larsen & Toubro Ltd is currently trading at Rs. 1292.55, up by Rs. 12.55 or 0.98% from its previous closing of Rs. 1280 on the BSE.

L&T has announced that it has bagged orders worth Rs.1178 Cr In December.

Larsen & Toubro Ltd is currently trading at Rs. 1292.55, up by Rs. 12.55 or 0.98% from its previous closing of Rs. 1280 on the BSE.

The scrip opened at Rs. 1286.1 and has touched a high and low of Rs. 1293 and Rs. 1284 respectively. So far 259610(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 119195.49 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1892.95 on 04-Mar-2015 and a 52 week low of Rs. 1265.5 on 15-Dec-2015. Last one week high and low of the scrip stood at Rs. 1308.45 and Rs. 1276 respectively.

The promoters holding in the company stood at 0 % while Institutions and Non-Institutions held 55.28 % and 42.36 % respectively.

The stock is currently trading above its 200 DMA.

Jaypee Infratech gains 5%

Jaypee group is in talks to sell its entire shareholding in the 165km Yamuna Expressway project after it failed to get a favourable response for the partial stake sale, reports a business daily.

Shares of Jaypee Infratech was higher by 5% at Rs. 13. Jaypee group is in talks to sell its entire shareholding in the 165km Yamuna Expressway project after it failed to get a favourable response for the partial stake sale, reports a business daily.

The group is in talks with IDFC Alternatives and I Squared Capital to sell the six-lane toll-based project in Uttar Pradesh that connects Noida with Agra along the Yamuna river, it adds.

The scrip opened at Rs. 12.79 and has touched a high and low of Rs. 13.49 and Rs. 12.79 respectively. So far 1199514(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 1743.11 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 23 on 05-Jan-2015 and a 52 week low of Rs. 11.35 on 10-Nov-2015. Last one week high and low of the scrip stood at Rs. 13 and Rs. 11.87 respectively.

The promoters holding in the company stood at 71.64 % while Institutions and Non-Institutions held 15.17 % and 13.19 % respectively.

The stock is currently trading below its 200 DMA.

Sun Pharma gains 3% on possible Intas acquisition

The company is in early talks to acquire Intas Pharma, says report.

Shares of Sun Pharma are currently trading 2.53% higher at Rs. 788.50 on BSE on media reports about the company is in early talks to acquire Intas Pharma. 

The deal size is reportedly estimated at Rs. 15,000 crore (US$ 3.2 billion). 

The scrip opened higher at Rs. 771 as against its previous close of Rs. 764.15. It hit a high and a low of Rs. 790 and Rs. 771 respectively. So far, 1.5 lk share have changed hands on BSE.

Prestige Estates Project climbs 2%; arm to buy stake in Exora Business Park

The business park has been completely developed and leased toreputed MNC’s like JPMorgan, Juniper Networks, LinkedIn, PriceWaterhouse Coopers, Schneider Electric and Bosch.

Prestige Estates Projects climbed 2% to Rs.198.55 on BSE. The company will buy back joint venture partner Red Fort Capital's over 60 per cent stake in business park Exora. The business park has been completely developed and leased toreputed MNC’s like JPMorgan, Juniper Networks, LinkedIn, PriceWaterhouse Coopers, Schneider Electric and Bosch. The transaction will result in one of the largest exits in real estate private equity space.

The scrip opened at Rs. 199.1 and has touched a high and low of Rs. 203 and Rs. 197 respectively. So far 131000(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 7301.25 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 323.7 on 29-Jan-2015 and a 52 week low of Rs. 181 on 24-Aug-2015. Last one week high and low of the scrip stood at Rs. 202.25 and Rs. 193.2 respectively.

The promoters holding in the company stood at 70 % while Institutions and Non-Institutions held 25.66 % and 4.34 % respectively.

The stock is currently trading above its 200 DMA.