Oil India gains 1.3% after LIC raises stake

LIC has raised its stake in the company by 2% through open market acquisition, as per media reports.

Oil India gained 1.3% to Rs. 310. LIC has raised its stake in the company by 2% through open market acquisition, as per media reports. LIC bought 1.22 crore shares or 2.04% of equity capital, to raise its stake in the company.

The scrip opened at Rs. 307 and has touched a high and low of Rs. 312.05 and Rs. 307 respectively. So far 251325(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 18412.79 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 526 on 17-Apr-2015 and a 52 week low of Rs. 300.5 on 01-Mar-2016. Last one week high and low of the scrip stood at Rs. 314.1 and Rs. 302 respectively.

The promoters holding in the company stood at 67.64 % while Institutions and Non-Institutions held 17.65 % and 14.71 % respectively.

The stock is currently trading above its 200 DMA. 

Moil soars 5% after MP government grants mining lease

The company said that the state government of Madhya Pradesh has granted mining lease over 48.974 hectare in MP. 

Moil soared 5% to Rs.217.35 on BSE. The company has informed BSE that the Government of Madhya Pradesh has granted Mining lease over 48.974 hectare in village Lugma, Tehsil Paraswada of Balaghat District (Madhya Pradesh) in favour of MOIL Limited. The company said lease has been executed and registered. This area falls under Ukwa Mine of the Company.

The scrip opened at Rs. 209.95 and has touched a high and low of Rs. 221 and Rs. 209.95 respectively. So far 293040(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 3475.08 crore.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 295 on 13-Apr-2015 and a 52 week low of Rs. 180.1 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 209.9 and Rs. 197.05 respectively.

The promoters holding in the company stood at 80 % while Institutions and Non-Institutions held 9.81 % and 10.19 % respectively.

The stock is currently trading below its 200 DMA.

Crompton Greaves gains 2%; bags contract from PT PLN (Persero)

The company has won a significant order of USD 35 million (INR 236 crore approx.) from PT PLN (Persero), the state-owned electricity company of Indonesia, to manufacture and install 28 power transformers ranging from 83.3 MVA to 167 MVA and rated voltage 500 kV/150 kV. 

Crompton Greaves recovered smartly from its lows and the stock is up 2% at Rs. 47. The company has won a significant order of USD 35 million (INR 236 crore approx.) from PT PLN (Persero), the state-owned electricity company of Indonesia, to manufacture and install 28 power transformers ranging from 83.3 MVA to 167 MVA and rated voltage 500 kV/150 kV. 

CG’s power transformers will be installed across PT PLN’s transmission network, spread over multiple substations and power plants in the Java, Sumatra and Kalimantan provinces of Indonesia. The delivery period is scheduled between May 2016 and March 2017.

The scrip opened at Rs. 48.8 and has touched a high and low of Rs. 48.8 and Rs. 47.2 respectively. So far 5517164(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 2933.17 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 69.45 on 05-Jan-2016 and a 52 week low of Rs. 38.79 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 54.54 and Rs. 40.5 respectively.

The promoters holding in the company stood at 34.38 % while Institutions and Non-Institutions held 49.1 % and 16.38 % respectively.

The stock is currently trading above its 200 DMA.

Glenmark Pharma gets tentative USFDA nod for Lacosamide Oral Solution

Glenmark Pharmaceuticals Inc., USA (Glenmark) has been granted tentative approval by the United States Food & Drug Administration (U.S. FDA) for its Lacosamide Oral Solution, 10 mg/mL, the generic version of Vimpat Oral Solution, 10 mg/mL of UCB, Inc. 

Glenmark Pharmaceuticals Inc., USA (Glenmark) has been granted tentative approval by the United States Food & Drug Administration (U.S. FDA) for its Lacosamide Oral Solution, 10 mg/mL, the generic version of Vimpat Oral Solution, 10 mg/mL of UCB, Inc. Glenmark will market this product upon receiving final approval of its Lacosamide Oral Solution, 10 mg/mL ANDA. The patent listed in the Orange Book for Vimpat Oral Solution, 10 mg/mL is scheduled to expire on March 17, 2022.

According to IMS Health sales data for the 12 month period ending January 2016, the Vimpat market achieved annual sales of approximately $55.4 million.

Glenmark’s current portfolio consists of 108 products authorized for distribution in the U.S. marketplace and 61 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.

Stock view:

Glenmark Pharmaceuticals Ltd is currently trading at Rs. 794, down by Rs. 17.1 or 2.11% from its previous closing of Rs. 811.1 on the BSE.

The scrip opened at Rs. 812 and has touched a high and low of Rs. 815 and Rs. 792.65 respectively. So far 95259(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 22885.85 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. 671.5 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 843.5 and Rs. 800 respectively.

The promoters holding in the company stood at 46.47 % while Institutions and Non-Institutions held 42.5 % and 11.02 % respectively.

The stock is currently trading below its 200 DMA.

ONGC Videsh plans to raise $1bn in April

Report says that the company will use the amount for part-payment towards 15% stake picked up by the Indian explorer in Russia’s Vankorneft for $1.25 billion in September 2015. 

ONGC Videsh is planning to raise $1 bn in April from the overseas market, according to reports.

Report says that the company will use the amount for part-payment towards 15% stake picked up by the Indian explorer in Russia’s Vankorneft for $1.25 billion in September 2015.

The acquisition has to be completed by May, says report.

Oil & Natural Gas Corpn Ltd ended at Rs. 212.55, up by Rs. 6.1 or 2.95% from its previous closing of Rs. 206.45 on the BSE.

The scrip opened at Rs. 209 and touched a high and low of Rs. 214.9 and Rs. 208.5 respectively. A total of 6462535(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 181846.94 crore.

The BSE group 'A' stock of face value Rs. 5 touched a 52 week high of Rs. 343 on 05-May-2015 and a 52 week low of Rs. 188 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 214.9 and Rs. 201.9 respectively.

The promoters holding in the company stood at 68.93 % while Institutions and Non-Institutions held 17.49 % and 13.57 % respectively.

The stock traded below its 200 DMA.

Top 12 stocks in focus today: JSW Energy, HUL, DLF

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

JSW Energy: JSW Energy is planning to acquire a 1,000 MW Jindal Power plant for about Rs. 6,000 crore, according to reports. The deal is likely to be announced shortly.

Hindustan Unilever Limited: HUL announced that it has signed an agreement for the sale of its Rice Exports business carried out primarily under the brands ‘Gold Seal Indus Valley’ and ‘Rozana’, to LT Foods Middle East DMCC, a group company of LT Foods Limited (owner of ‘Daawat’).

ONGC: ONGC Videsh Ltd. (OVL), the overseas arm of ONGC, will raise US$1 billion in April from the overseas market and use the amount for part-payment towards the 15% stake bought by it in Russia’s Vankorneft for US$1.25 billion in September 2015, reports a financial newspaper.

United Breweries: United Breweries Ltd shares will be in focus as Heineken is likely to ask Vijay Mallya, who owes creditor banks more than $1 billion, to step down from the board of UBL. Heineken owns 42.4% stake in UBL.

DLF: The company has decided to sell its shopping mall in Saket in the national capital to its unit for Rs.904.50 crore as part of its plan to streamline and monetize its existing assets. DLF Ltd has announced that the Board of Directors of the Company at its meeting held on March 17, 2016, has declared an interim dividend of Rs. 2 per fully paid equity shares of Rs. 2 each of the Company for the FY 2016.

Bharti Airtel: Bharti Airtel informed the bourses that the company has entered into a definitive agreement with Videocon Telecommunication (VTL) to acquire its 1,800 MHz spectrum for Rs 4,428 cr in six circles.

Honeywell Automation India: The company announced appointment of former Wipro CFO Suresh Senapaty as its Chairman.

Deep Industries: The company has received a notification of award for hiring of gas dehydration system for four production Installations for a period of five years at ONGC Rajamundry Asset viz. Tatipaka GCS, Kesanapalli GCS, KPDA EPT & Endamuru GCS.

Marksans Pharma: The company announced that pursuant to the UK MHRA GMP inspection of the Marksans's Goa plant conducted from November 23, 2015 to November 25, 2015 and subsequent to the Company's response to the UK MHRA observations, the Company has received communication from UK MHRA informing that they are issuing a "Restricted GMP Certificate" allowing the Company to continue manufacture and marketing of critical products for the UK markets.

Idea Cellular: Idea Cellular and Videocon Telecommunications have mutually agreed to call off their Rs 3,310-crore spectrum deal for two telecom circles.

Orchid Pharma: Orchid Pharma said it has received final US FDA nod for Rasagiline generic.

Ujaas Energy: Ujaas Energy Ltd has bagged an order to establish and Operation and Maintenance (O&M) of "Solar Photovoltaic Power Plant of 5MW Capacity from Rashtriya Ispat Nigam Limited - Visakhapatnam Steel Plant".

CG: Avantha Group Company CG has won a significant order of USD 35 mn (Rs. 236 crore approx.) from PT PLN (Persero), the state-owned electricity company of Indonesia, to manufacture and install 28 power transformers ranging from 83.3 MVA to 167 MVA and rated voltage 500 kV/150 kV.

Suzlon: The Suzlon Group, one of the leading global renewable energy solutions providers in the world, announced its order wins for a combined capacity of 81.90MW. 

Live Stock Market Updates - Nifty trades above 7500

Some buying activity is seen in telecom, metals, IT, capital goods and oil and gas sectors, while pharma and FMCG sectors are showing weakness on BSE. The INDIA VIX is up 0.02% at 16.8450. Out of 1,764 stocks traded on the NSE, 528 declined, 804 advanced and 432 remained unchanged today.

At 9:27 AM, the S&P BSE Sensex is trading at 24,769 up 91 points, while NSE Nifty is trading at 7,539 up 27 points.

The BSE Mid-cap Index is trading up 0.21% at 10,253, whereas BSE Small-cap Index is trading up 0.27% at 10,274.

TCS, BHEL, Bharti Airtel, Adani Ports, ICICI Bank, Wipro, ONGC and Tata Steel are among the gainers, whereas Lupin, Sun Pharma, HUL, Dr.Reddy's, Hero MotoCorp and Maruti Suzuki losing sheen on BSE.

Some buying activity is seen in telecom, metals, IT, capital goods and oil and gas sectors, while pharma and FMCG sectors are showing weakness on BSE.

The INDIA VIX is up 0.02% at 16.8450.  Out of 1,764 stocks traded on the NSE, 528 declined, 804 advanced and 432 remained unchanged today.

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

The Indian rupee opened 13 paise higher at 66.62/$ on Friday as against the previous close of 67.75/$. On Thursday, Indian rupee extended the upside against the greenback, helped by foreign capital inflows and ensuing firm tone in equity markets.
 
Healthcare Global IPO offer is scheduled to close today. Bharat Wire Ropes (BWR) one of the leading specialty wire ropes manufacturing company in India is set to go public with its issue to raise Rs 70 crore from market today.

The Finance Ministry and Reserve Bank officials will meet today to decide on the borrowing calendar of the government for April-September period of the next fiscal. In the Budget, the government has pegged gross market borrowing at Rs 6 lakh crore, up from Rs 5.8 lakh crore in the ongoing fiscal. Gross borrowing includes repayments of past loans and interests.

On the global front, US Fed conceded that global economic and financial developments continue to pose risks to the US economy and effectively downgraded its estimate of GDP growth in 2016 to 2.2% from 2.4%. PCE inflation is now expected to rise to 1.2% by year end, down from a prior projection of 1.6%. In China, capital outflows have moderated, owing to the relative stability in Yuan.

US stock indices advanced on Thursday, with the Dow Jones Industrial Average turning positive for the year 2016. The blue chip benchmark also notched gains for a fifth successive trading session. The Dow rose by 155.73 points, or 0.9%, to close at 17,481.49.
The S&P 500 index, which briefly turned positive for the year, closed 13.37 points, or 0.7%, higher at 2,040.59. The Nasdaq Composite index rose by 11.01 points, or 0.2%, to settle at 4,774.99.

Asian markets are mixed for now with Japan's Nikkei down 1.5%. China's CSI300 is up and so is Hong Kong's Hang Seng. South Korea's Kospi and Taiwan's TWSE are also in the green.

The drop in the US currency also sent the price of gold sharply higher. Gold futures gained 2.9% to finish at US$1,265. In the day's economic news, weekly jobless claims increased by 7,000 to 265,000.

A reading of manufacturing activity in the Philadelphia area unexpectedly turned positive in March, marking the first positive showing in seven months.

JSW Energy is planning to acquire a 1,000 MW Jindal Power plant for about Rs. 6,000 crore, according to reports.

ONGC Videsh is planning to raise $1 bn in April from the overseas market, according to reports, DLF announced that Board of Directors at its meeting held on March 17, 2016 has approved sale of 'DLF Place, Saket', a shopping mall, having built up area of 5.16 lac sq.ft. (approx.) along with land parcel on which the said mall is situated, to Nambi Buildwell Private Limited, a wholly-owned subsidiary of the Company on arm's length basis for an aggregate consideration of Rs. 904.50 crore.

ICICI Bank stated that the Bank is planning to raise funds through new non-convertible debts securities.