Escorts May total tractor sales at 5,331 Units

The domestic tractor sales was at 5,252 units as against 4,741 Units (YoY).

Escorts May total tractor sales stood at 5,331 Units.

The domestic tractor sales was at 5,252 units as against 4,741 Units (YoY).

Escorts Ltd is currently trading at Rs. 176.45, up by Rs. 1.25 or 0.71% from its previous closing of Rs. 175.2 on the BSE.

The scrip opened at Rs. 176.5 and has touched a high and low of Rs. 178 and Rs. 175.3 respectively. So far 552813(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 2147.6 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 189 on 23-Oct-2015 and a 52 week low of Rs. 101.6 on 16-Jun-2015. Last one week high and low of the scrip stood at Rs. 180 and Rs. 171 respectively.

The promoters holding in the company stood at 43.01 % while Institutions and Non-Institutions held 11.81 % and 45.18 % respectively.

The stock is currently trading above its 50 DMA.

BEL to inaugurate 8.4 MW wind energy power plant at Harappanahalli

The wind energy plant, installed by the Engineering Services, Bangalore Complex, BEL, in collaboration with Suzlon Energy Limited, will be inaugurated on June 2, 2016, by S K Sharma, Chairman & Managing Director, BEL.

Navratna Defence PSU Bharat Electronics Ltd has established an 8.4 MW wind energy power plant at Hanumanthappa site, Harappanahalli, in the Davangere district of Karnataka for captive consumption of energy for its factory at Bengaluru.

The wind energy plant, installed by the Engineering Services, Bangalore Complex, BEL, in collaboration with Suzlon Energy Limited, will be inaugurated on June 2, 2016, by Mr S K Sharma, Chairman & Managing Director, BEL. The 8.4 MW wind energy power plant is expected to generate around 170 to 180 lakh units of power per annum. This is in addition to about 98 lakh units power generated per annum by the existing 5.5 MW wind power plants of BEL. All these plants put together are expected to generate around 270-280 lakh units in the coming years, meeting about 90 per cent of BEL’s power consumption through renewable energy resources. The estimated reduction in carbon emission per annum is around 26,500 kgs equivalent of Co2. With this green initiative, BEL’s Bengaluru Complex is all set to achieve carbon neutral status.

More power: The 2.1 MW wind turbine generator with each blade size of 47 mts in length and covering a gigantic 97-mt rotor diameter, can generate 25-30 per cent more energy compared to the earlier 2.5 MW plants (5 numbers of 500 KW with a height of 50 mts and rotor diameter of 47 meters) and 3 MW plants (2 numbers of 1,500 KW with a height of 78 mts and rotor diameter of 82 mts) installed by BEL. The life of the machine is 20 years.

BEL is the first company to have placed an order on Suzlon Energy Limited for developing a wind energy power plant of 8.4 MW capacity with all these features in Karnataka. BEL has established a systematic approach for conservation of natural resources with focus on saving power and water and preserving greenery.

Great Eastern Shipping Company raises fund at Rs.250 crore via NCDs

The Debenture Issue Committee has at its meeting held on June 01, 2016 approved the allotment of 2,500 Unsecured Non-Convertible Debentures of face value of Rs.10 lakhs each aggregating to Rs.250 crore (tranche 2).

Great Eastern Shipping Company Ltd has informed BSE that the Debenture Issue Committee has at its meeting held on June 01, 2016 approved the allotment of 2,500 Unsecured Non-Convertible Debentures of face value of Rs.10 lakhs each aggregating to Rs.250 crore (tranche 2). The allotment of the first tranche of Rs.250 crore was made on May 09, 2016.

Great Eastern Shipping Company Ltd is currently trading at Rs. 310, up by Rs. 1.15 or 0.37% from its previous closing of Rs. 308.85 on the BSE.

The scrip opened at Rs. 309.8 and has touched a high and low of Rs. 312 and Rs. 309.5 respectively. So far 11463(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 4656.75 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 420 on 10-Nov-2015 and a 52 week low of Rs. 275 on 02-Mar-2016. Last one week high and low of the scrip stood at Rs. 314 and Rs. 307.35 respectively.

The promoters holding in the company stood at 30.42 % while Institutions and Non-Institutions held 42.25 % and 27.02 % respectively.

The stock is currently trading below its 200 DMA.

Eicher Motors May total CV sales at 5,771 units

The scrip opened at Rs. 18437.55 and has touched a high and low of Rs. 18724 and Rs. 18437.5 respectively.

Eicher Motors total CV sales stood at 5,771 Units as against 4035 units YoY.

Eicher Motors Ltd is currently trading at Rs. 18700, up by Rs. 175.8 or 0.95% from its previous closing of Rs. 18524.2 on the BSE.

The scrip opened at Rs. 18437.55 and has touched a high and low of Rs. 18724 and Rs. 18437.5 respectively. So far 16962(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 50317.25 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 21618.3 on 21-Jul-2015 and a 52 week low of Rs. 14817.75 on 19-Jan-2016. Last one week high and low of the scrip stood at Rs. 18950 and Rs. 18275 respectively.

The promoters holding in the company stood at 54.87 % while Institutions and Non-Institutions held 32.04 % and 13.09 % respectively.

The stock is currently trading below its 50 DMA.

Dr Reddys Lab arm launches Sernivo Spray in US

The scrip opened at Rs. 3194.95 and has touched a high and low of Rs. 3219 and Rs. 3182.6 respectively.

Dr Reddys Laboratories Ltd has announced that US arm Promius launches Sernivo Spray in US.

Dr Reddys Laboratories Ltd is currently trading at Rs. 3189.95, up by Rs. 5.55 or 0.17% from its previous closing of Rs. 3184.4 on the BSE.

The scrip opened at Rs. 3194.95 and has touched a high and low of Rs. 3219 and Rs. 3182.6 respectively. So far 87402(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 54328.3 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. 2750 on 21-Jan-2016. Last one week high and low of the scrip stood at Rs. 3200 and Rs. 3019.5 respectively.

The promoters holding in the company stood at 25.58 % while Institutions and Non-Institutions held 42.02 % and 32.4 % respectively.

The stock is currently trading above its 200 DMA.

Sun Pharma projects 8% revenue growth for FY17 and other top pharma news

Glenmark Pharmaceuticals launched an offer on the Singapore Stock Exchange to raise up to $200 million (over Rs 1,340 crore) through issue of securities. The Mumbai-based company has decided on a regulatory floor price for conversion of the FCCBs at Rs 861.84. The company, however, did not disclose the reason for the fund-raising.

Battling pricing pressures in the US and at home, drug-maker Sun Pharmaceutical Industries has projected a revenue growth of 8-10 per cent in the year ahead. “I see traction in all parts of the business,” Dilip Shanghvi, Managing Director told analysts on Tuesday, giving a guidance on the company’s growth prospects, taking into account remediation efforts at Sun’s Halol plant and the end of sales exclusivity on cancer drug Imatinib in the US. He also indicated that the recent acquisition of Novartis’ products in Japan would contribute to the company’s revenues later in the financial year.

Glenmark Pharmaceuticals launched an offer on the Singapore Stock Exchange to raise up to $200 million (over Rs 1,340 crore) through issue of securities. The Mumbai-based company has decided on a regulatory floor price for conversion of the FCCBs at Rs 861.84. The company, however, did not disclose the reason for the fund-raising. 

Drug maker Unichem Laboratories has earmarked a capital expenditure of around Rs 200 crone for the current fiscal, most of which would go into the company's upcoming API plant in Kolhapur, Maharashtra."In the current year we are looking at around Rs 150- 200 crore of capex which may get spilled over to FY2018 also," Unichem Laboratories VP finance and CFO Rakesh Pankh said. The API unit is coming up and it has a major capital expenditure, he said, adding that "the work out there is going on in full swing". 

The Sun Pharmaceutical Industries Ltd stock fell 6.13% on BSE on Tuesday, after the announcement of the company’s results on Monday. What led to the plunge? It wasn’t the company’s 1.8% sales growth in FY16, because that was not much of a surprise, as the management had indicated as much. What shocked investors is its sales growth projection for FY17. An 8-10% sales growth is not what they expected, and even a proposed share buyback did little to lift spirits. 

Aurobindo Pharma plans to focus on increased Abbreviated New Drug Application (ANDA) filings and new differentiated product launches to maintain growth. The company posted a growth of 15% in sales and 26% in profit in the fiscal year ended March 2016. 

Shantha Biotechnics Pvt Ltd, an arm of Sanofi Pasteur, has started commercial production at its new vaccine production facility in the special economic zone of Muppireddipalli near here. This was announced by its Non-Executive Chairman K I Varaprasad Reddy at a press conference held here on Tuesday. The plant was set up with an investment of Rs 250 crore and has got regulatory approvals from the World Health Organisation and Indian authorities, according to Mahesh Bhalgat, Executive Director and Chief Operating Officer of Shantha. 

Global alternative asset manager Apollo Global Management LLC is seeking a licence to start an asset reconstruction company (ARC) in India, two people directly familiar with the matter said. Apollo is one of a number of firms looking at entering the stressed assets business in India as banks try to clean up their balance sheets. Apollo Global confirmed that it is considering the option.

Ireland-based Jazz Pharmaceuticals will buy US-based Celator Pharmaceuticals in a cash deal valued at about $1.5 billion, to gain access to an investigational product in development for treating acute myeloid leukemia. Jazz Pharmaceuticals will pay $30.25 per share i n cash for Celator. 

Atul Auto May total sales at 3,025 Units

Atul Auto Ltd is currently trading at Rs. 500.05, up by Rs. 9.45 or 1.93% from its previous closing of Rs. 490.6 on the BSE.

 Atul Auto total sales stood at 3,025 Units in May.

Atul Auto Ltd is currently trading at Rs. 500.05, up by Rs. 9.45 or 1.93% from its previous closing of Rs. 490.6 on the BSE.

The scrip opened at Rs. 494 and has touched a high and low of Rs. 505 and Rs. 491.3 respectively. So far 50706(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 1076.53 crore.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 581 on 06-Jan-2016 and a 52 week low of Rs. 330 on 12-Jun-2015. Last one week high and low of the scrip stood at Rs. 494 and Rs. 480.2 respectively.

The promoters holding in the company stood at 52.7 % while Institutions and Non-Institutions held 16.53 % and 30.77 % respectively.

The stock is currently trading below its 50 DMA

Axis Bank gains1.5% after RBI allows RFP+ Is to buy up to 62% stake

The bank received approval from RBI - FIIs / RFPIs can invest up to 62% under Portfolio Investment Scheme (PIS).

Axis Bank gained 1.5% to Rs.524 on BSE.  The bank received approval from RBI - FIIs / RFPIs can invest up to 62% under Portfolio Investment Scheme (PIS).

The scrip opened at Rs. 525 and has touched a high and low of Rs. 529.5 and Rs. 521.5 respectively. So far 2377840(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 123016.47 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 613.4 on 16-Jul-2015 and a 52 week low of Rs. 366.65 on 18-Jan-2016. Last one week high and low of the scrip stood at Rs. 525 and Rs. 492 respectively.

The promoters holding in the company stood at 29.73 % while Institutions and Non-Institutions held 56.64 % and 10.27 % respectively.

Tata Steel UK completes sale of long products Europe business to Greybull Capital

From today the Long Products Europe business, which in the UK includes the Scunthorpe steelworks, two mills in Teesside, an engineering workshop in Workington, a designconsultancy in York, and associated distribution facilities, as well as a rail mill in northern France, will trade under the name of British Steel.

Tata Steel UK today announced the completion of the sale of its Long Products Europe business to Greybull Capital LLP.

During the last twelve months, the Long Products Europe business has implemented a transformation plan including a portfolio restructuring of assets, underpinnedby committed support from employees and their trade unions. This has focused the business on higher-value markets supported by a more competitive cost base.

Mr Bimlendra Jha, Executive Chairman of the Long Products Europe business and CEO of Tata Steel UK said: “As a responsible seller, Tata Steel is delighted to have secured a buyerfor this business and we hope that under Greybull ownership, the business will continue the
momentum of the improvement program that has been initiated in the last 12 months.

“Employees and trade unions have worked closely with the Long Products Europe management team to improve the business’s prospects, putting it in a more competitive position than it has been for many years. It is through their dedication and hard work that we are in this position today in spite of continued challenges in the market".

From today the Long Products Europe business, which in the UK includes the Scunthorpe steelworks, two mills in Teesside, an engineering workshop in Workington, a designconsultancy in York, and associated distribution facilities, as well as a rail mill in northern France, will trade under the name of British Steel. All together the business employs 4,800 people – 4,400 in the UK and 400 in France.

The sale follows an accelerated process of negotiations between Tata Steel UK and Greybull Capital to achieve this outcome.

ONGC Videsh acquires 15% interest in Vankor Field

Vankor is Rosneft’s (and Russia’s) second largest field by production and accounts for 4% of Russian crude oil production. The daily peak production from the field is around 442,000 barrels of oil per day (bopd). With 15% shareholding, ONGC Videsh’s share of daily oil production would be about 66,000 bopd.

ONGC Videsh Limited, a wholly owned subsidiary of Oil and Natural Gas Corporation Ltd. completed on 31st May, 2016, the acquisition of 15% equity from Rosneft Oil Company, in JSC Vankorneft, a company organized under the law of Russian Federation which is the owner of Vankor Field and North Vankor license. Rosneft, the national oil company of Russia continues to hold the remaining 85% shares of JSC Vankorneft.
 
Earlier in September, 2015, Narendra K. Verma, Managing Director & CEO, ONGC Videsh and Igor Sechin, President, Chairman of the Management Board, Rosneft signed agreement for ONGC Videsh to acquire not less than 15% shares in JSC Vankorneft, for a consideration of USD 1,268 million.
 
Vankor is Rosneft’s (and Russia’s) second largest field by production and accounts for 4% of Russian crude oil production. The daily peak production from the field is around 442,000 barrels of oil per day (bopd). With 15% shareholding, ONGC Videsh’s share of daily oil production would be about 66,000 bopd.
 
The present transaction strengthens ONGC Videsh presence in Russia and is consistent with its stated strategic objective of adding high quality international assets to its existing E&P portfolio. This acquisition also has significant strategic importance to India, both in terms of augmentation of India’s Energy Security as well as adding a new dimension to the relationship between Rosneft and ONGC Videsh besides further strengthening the cooperation between the two countries.

RCOM plans to reduce debt by 75%

RCom’s net debt at the end of March 2016 stood at Rs. 41,362.1 crore.

Reliance Communications reportedly said it expects to cut down debt by 75% through merger of MTS, Aircel and sales of mobile towers.

“ We expect to make announcement with respect to Aircel merger anytime in June. Once we complete the Aircel transaction, we will go for the tower deal,” RCom CEO for Consumer Business Gurdeep Singh reportedly said during a conference call.

RCom’s net debt at the end of March 2016 stood at Rs. 41,362.1 crore.

RCom and Aircel have extended discussion period for the possible merger till June 22. 

Top 18 stocks in focus: RIL, Glenmark Pharma, Axis Bank

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

Oil stocks in focus: Oil marketing companies hiked petrol prices by Rs.2.58 per litre and diesel by Rs.2.26 per litre, with effect in Delhi from midnight.

Maruti Suzuki India Ltd: Maruti Suzuki India said it will resume production at its factories from 1 June, says report.

Mahindra & Mahindra: M&M said it has entered into a brand licence agreement with Pininfarina for use of trademarks after closing the deal to acquire 76.06 per cent stake in the Turin-based company.

Sun Pharmaceutical Industries: Sun Pharmais looking at up to 10 per cent increase in its consolidated revenues in the current financial year with an expectation of all round growth of business.

Reliance Communications: Reliance Communications reportedly said it expects to cut down debt by 75% through merger of MTS, Aircel and sales of mobile towers.

Vakrangee: Vakrangee announced a partnership with ARAMEX INDIA PRIVATE LIMITED (ARAMEX), a leading global provider of logistics and transportations solutions.

Glenmark Pharmaceuticals Ltd: Glenmark Pharmaceuticals announced that the Issuance Committee of the Company at its meeting held on May 31, 2016, has approved raising of up to USD 200 million through issuance of FCCBs to be listed on the Singapore Stock Exchange (Issue) and has decided to open/launch the Issue on May 31, 2016.

Axis Bank: Axis Bank receives approval from RBI - FIIs / RFPIs can invest up to 62 per cent under Portfolio Investment Scheme (PIS)

ONGC: ONGC Videsh announced completion of acquisition of 15 per cent stake in Russia's second biggest oil field of Vankor from Rosneft for $1.268 billion, says report.

Reliance Industries: Reliance Industries is running at lower capacity at some plants and is undertaking shut down of twonof its petrochemical units at Dahej in Gujarat in response to insufficient water to run the units.

DLF: DLF Utilities Ltd., (DUL), a subsidiary has executed an Amendment Agreement on 30th May, 2016 with PVR Limited in connection with sale of the cinema exhibition business (operated under the brand name of “DT Cinemas”) on a slump sale basis for a revised consideration of Rs.433 crore (Rs. 100 crore of which to be received upon satisfaction of certain Conditions Subsequent).

Thomas Cook (India): Thomas Cook has entered into a partnership with online budget hotels aggregator, Vista Rooms, for providing standardised accommodation experience.

Andhra Bank: Andhra Bank is planning to raise Rs.2,700 crore for 2016-17, as per the financial requirements of the fiscal.

HUL: The company to seek shareholder's approval to transfer funds from General Reserve.

Nucleus Software Exports: The company launches 'mApply', an innovative Mobile solution that enables Australian consumers to apply for loans in minutes