Tata Motors drops 3.5%

The company has launched its next-generation 'Ultra' range of light commercial vehicle (LCV) in Kenya.

Tata Motors dropped 3.5% to Rs.441.25 on BSE. The company has launched its next-generation 'Ultra' range of light commercial vehicle (LCV) in Kenya. 

The scrip opened at Rs. 450 and has touched a high and low of Rs. 451 and Rs. 439.6 respectively. So far, 4168167(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 147936.07 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 470.25 on 09-Jun-2016 and a 52 week low of Rs. 266 on 11-Feb-2016. Last one week high and low of the scrip stood at Rs. 470.25 and Rs. 450.5 respectively.

The promoters holding in the company stood at 33.01 % while Institutions and Non-Institutions held 41.3 % and 25.69 % respectively.

Tata Power buys Welspun’s renewable energy assets

Tata Power’s subsidiary Tata Power Renewable Energy Ltd will acquire WREPL through a share purchase agreement (SPA).

Tata Power reportedly said it will acquire Welspun Energy’s subsidiary, Welspun Renewable Energy Pvt Ltd (WREPL) for an undisclosed amount.

Tata Power’s subsidiary Tata Power Renewable Energy Ltd will acquire WREPL through a share purchase agreement (SPA).

TPREL has signed an SPA with Welspun Energy to acquire its subsidiary WREPL,says report.

WREPL has one of the largest operating solar portfolios in India spread across ten states.

Dr Reddy's to acquire eight ANDAs in US for $350 mn

The portfolio consists of products that are being divested by Teva as a precondition to its closing of the acquisition of Allergan’s generics business.

Dr Reddy’s Laboratories has inked a pact with Teva Pharmaceutical and an affiliate of Allergan Plc to buy a portfolio of eight abbreviated new drug applications (ANDAs) in the US for $ 350 million (around Rs 2,300 crore) in cash.

The portfolio consists of products that are being divested by Teva as a precondition to its closing of the acquisition of Allergan’s generics business.

The portfolio being acquired is a mix of filed ANDAs pending approval and an approved ANDA and comprised of complex generic products across diverse dosage forms, company added.

The company stated that the combined sales of the branded versions of the products in the US is around $ 3.5 bn.

Dr Reddys Laboratories Ltd ended at Rs. 3064.6, down by Rs. 6.85 or 0.22% from its previous closing of Rs. 3071.45 on the BSE.

The scrip opened at Rs. 3070 and touched a high and low of Rs. 3091.2 and Rs. 3048.05 respectively. A total of 311148(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 52284.42 crore.

The BSE group 'A' stock of face value Rs. 5 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. 3182.8 and Rs. 3048.05 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 traded above its 200 DMA.

SBI says will use all available means to resolve bad loans

Bhattacharya added that tackling the bad loans, will receive top priority in the current fiscal.

The State Bank of India will use all available means to resolve the over Rs.98,000 crore of bad loans on its books, chairman Arundhati Bhattacharya reportedly said.

Bhattacharya added that tackling the bad loans, will receive top priority in the current fiscal.

Bhattacharya reportedly said that finding a way to bring down the level of stressed assets on the bank will undoubtedly receive the most attention.

“There is no one solution that fits all,” said Bhattacharya.

State Bank of India ended at Rs. 206.2, down by Rs. 3.8 or 1.81% from its previous closing of Rs. 210 on the BSE.

The scrip opened at Rs. 209.05 and touched a high and low of Rs. 211.5 and Rs. 205.5 respectively. A total of 28096162(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 160068.46 crore.

The BSE group 'A' stock of face value Rs. 1 touched a 52 week high of Rs. 291.85 on 05-Aug-2015 and a 52 week low of Rs. 148.3 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 212.8 and Rs. 197.1 respectively.

The promoters holding in the company stood at 60.18 % while Institutions and Non-Institutions held 27.88 % and 10.07 % respectively.

The stock traded above its 200 DMA.

RCOM and Aircel may complete merger by July

The deadline for exclusive negotiations between both sides was extended for a month till June 22nd.

Anil Ambani led Reliance Communications and Aircel are in talks to finalise much anticipated merger by this early next month, according to reports.

Report says that the deadline for exclusive negotiations between both sides was extended for a month till June 22nd.

As per the terms, RCom will hive off its wireless business into a separate arm - special purpose vehicle - in the form of a slump sale.

Reliance Communications Ltd ended at Rs. 49.2, up by Rs. 0.35 or 0.72% from its previous closing of Rs. 48.85 on the BSE.

The scrip opened at Rs. 49 and touched a high and low of Rs. 50.05 and Rs. 48.8 respectively. A total of 19210219(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 12245.78 crore.

The BSE group 'A' stock of face value Rs. 5 touched a 52 week high of Rs. 91.8 on 01-Jan-2016 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. 50.05 and Rs. 47.55 respectively.

The promoters holding in the company stood at 58.85 % while Institutions and Non-Institutions held 28.77 % and 11.09 % respectively.

The stock traded below its 200 DMA.