JLR to recall 11,282 vehicles in China on crankshaft sensor defect

JLR had, in May, recalled 1,00,000 vehicles in the US to fix faulty airbags which impacted JLR earnings for the fiscal year that ended March 31.

Tata Motors's Jaguar Land Rover (JLR) is set to recall 11,282 vehicles in China on crankshaft sensor defect, as per reports.

JLR had, in May, recalled 1,00,000 vehicles in the US to fix faulty airbags which impacted JLR earnings for the fiscal year that ended March 31.

China accounted for about 19 percent of Jaguar Land Rover sales worldwide for the fiscal year, down from 25 percent a year ago.

JLR has reportedly predicted an estimated 1 billion pounds loss by 2020 in the event of Britain's exit from the European Union (EU) in Thursday's referendum.

Mahanagar IPO subscribed 7.53 times

The Rs 1,040 crore issue received total bids for 13,,05,34, 250 shares, as against total issue size of 1,73,46,150 shares, according to NSE data

The initial public offering (IPO) of Mahanagar Gas recorded 7.53  times subscription. 

The Rs 1,040 crore issue received total bids for 13,,05,34, 250 shares, as against total issue size of 1,73,46,150 shares, according to NSE data.

The company had allotted 7,348,350 equity shares to 25 anchor investors at Rs 421 a share.

Mandhana Industries slumps 10%

The company announced that it was in the process of demerging the 'Being Human' retail business into a separate company — Mandhana Retail Ventures, says report.

Mandhana Industries plunged 10% to Rs.144 on Thursday. Report says that the company announced that it was in the process of demerging the 'Being Human' retail business into a separate company — Mandhana Retail Ventures. 

The scrip opened at Rs. 144.2 and has touched a high and low of Rs. 144.2 and Rs. 144.2 respectively. So far 8793(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 530.75 crore.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 345 on 22-Mar-2016 and a 52 week low of Rs. 160.2 on 22-Jun-2016. Last one week high and low of the scrip stood at Rs. 287 and Rs. 160.2 respectively.

The promoters holding in the company stood at 72.6% while Institutions and Non-Institutions held 5.7% and 21.5% respectively.

The stock is currently trading below its 50 DMA.

Reliance Communications gains 2% on revised ICRA outlook

The top telecom firm has informed BSE that ICRA Limited has upgraded its outlook to stable from negative on the Long Term rating 'BBB+' of the company.

Reliance Communications gained 2.1% to Rs.48.7 on Thursday. The top telecom firm has informed BSE that ICRA Limited has upgraded its outlook to Stable from negative on the Long Term rating 'BBB+' of the company. It has also reaffirmed rating of A2+ for Short-Term Fund Based / Non Fund Based Limits and Commercial Papers of the company.

The scrip opened at Rs. 48.5 and has touched a high and low of Rs. 49.2 and Rs. 48.2 respectively. So far 15903245(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 11872.43 crore.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 91.8 on 01-Jan-2016 and a 52 week low of Rs. 45.6 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 49.8 and Rs. 46.5 respectively.

The promoters holding in the company stood at 58.8% while Institutions and Non-Institutions held 28.7% and 11% respectively.

The stock is currently trading below its 200 DMA.

Sun Pharma recalls US drugs and other top pharma news

Drug firm Lupin said on Wednesday that it has received final approval from the US health regulator for its generic Amabelz tablets, used for severe vasomotor in the American market.

As many as 2,839 bottles of anti-bacterial medicine Nitrofurantoin Oral Suspension manufactured by Sun Pharmaceutical Industries are being recalled in the US market on account of failed dissolution specifications. The ongoing voluntary recall by Nostrum Laboratories Inc. for Nitrofurantoin Oral Suspension, USP, 25 mg/5 mL is a class II recall, according to the latest enforcement report on USFDA site.


Drug firm Lupin said on Wednesday that it has received final approval from the US health regulator for its generic Amabelz tablets, used for severe vasomotor in the American market. 

The central government is revising its drugs law to make it easier for companies to do business while ensuring the safety and efficacy of medicines, in Prime Minister Narendra Modi’s latest move to encourage industry. Until last year, India was trying to tweak its archaic Drugs and Cosmetics Act of 1940, and an amendment bill was introduced in the upper house of parliament in 2013.

In ratings reviews that it published on Wednesday, credit rating agency ICRA downgraded the long-term rating of Deepak Fertilizers while placing that of Fortis Healthcare on watch. For Deepak Fertilizers and Petrochemicals Corporation, ICRA revised the long-term rating assigned to the Rs 600-crore non-convertible debenture programme, Rs 575-crore (increased from Rs 500 crore) long-term fund-based limits and Rs 141.44-crore term loans from AA to AA-, the agency said in a note. 

Home-grown private equity fund ChrysCapital is in initial talks with private equity funds Apax Parters, Advent International, Multiples Alternatives, Barings Asia and Carlyle to sell its 16% stake in Ahmedabad-based Eris Lifesciences. The drugmaker is being valued at $400-450 million, said three people with direct knowledge of the discussions for a proposed transaction. In 2011, ChrysCap picked up 16% stake in Eris Lifesciences for .Rs 160 crore. 

The government’s decision to allow foreign direct investment (FDI) up to 74% through automatic route in existing pharmaceutical companies is likely to hit affordable healthcare in the country, especially in the vaccine (in which the government also runs programmes) and injectables segments, according to senior domestic indust ry execu tives. Vaccines and injectables are ch allenging vert icals wit h very few good manufacturing facilities in India and even fewer firms invest in research and development in these verticals. 

NTPC slumps 4%

The company has informed BSE that In accordance with the approval accorded by Cabinet Committee on Economic Affairs on May 13, 2015, Government of India (GOI) has offered 2,06,13,661 Equity Shares of Rs. 10/- each to the eligible employees of NTPC Ltd. at discounted price of Rs. 115.90/- per shar

NTPC Ltd stock was lower by 4% at Rs.146. The company has informed BSE that In accordance with the approval accorded by Cabinet Committee on Economic Affairs on May 13, 2015, Government of India (GOI) has offered 2,06,13,661 Equity Shares of Rs. 10/- each to the eligible employees of NTPC Ltd. at discounted price of Rs. 115.90/- per share i.e. 5% discount to the cut off price of Rs. 122.00/- discovered through the Offer For Sale of equity shares of NTPC carried out by GOI on February 23, 2016 & February 24, 2016.

The scrip opened at Rs. 147.1 and has touched a high and low of Rs. 148.55 and Rs. 146.4 respectively. So far 51116(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 125537.13 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 154.9 on 15-Jun-2016 and a 52 week low of Rs. 107.2 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 154.7 and Rs. 150.15 respectively.

The promoters holding in the company stood at 69.96 % while Institutions and Non-Institutions held 27.76 % and 2.29 % respectively.

The stock is currently trading above its 50 DMA

Top 18 stocks in focus today: NTPC, Bharti Airtel, Telecom stocks

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

NTPC: Government will sell 2.06 crore shares in NTPC to eligible employees at a price of Rs.115.90, a 5% discount to the price of Rs.122 at which the government sold 5% stake in the power generator in February.

Bharti Airtel: Orange announces that, together with its subsidiary has completed the acquisition of 100% of the mobile operator Airtel in Burkina Faso.

KEC International: The company has secured new orders at Rs.1,036 crore.

Telecom stocks in focus: The Union government has approved India’s largest auction of telecom spectrum. Based on the base price, the spectrum is valued at Rs.5.66 trillion.

Reliance Power: The Coal Ministry has issued show cause notice to Reliance Power asking reasons for delays in developing coal mines allocated for Tilaiya UMPP, says report.

GAIL (India) Limited: The company has placed orders for purchase of 341 km of Line Pipes for the Phulpur ­ Haldia/Dhamra Natural Gas Pipeline on four companies at a total cost of Rs.550 crore.

Sun Pharmaceutical Industries: The pharma company has started recalling 2,839 bottles of anti-bacterial medicine Nitrofurantoin Oral Suspension in the US market account of failed dissolution specifications.

DLF: According to media reports, global investors have submitted expressions of interest for acquiring stake in realty firm DLF Ltd’s rental arm include sovereign wealth funds such as GIC, Abu Dhabi Investment Authority and private equity firm Blackstone Group Lp.

Essar Oil: The company has made a discovery of 8tcf of original in-place shale gas resources underneath its coal-bed methane reserves in Raniganj (East) block in West Bengal.

Textile stocks in focus: The cabinet has approved Rs.6,000 crore package for the textile sector, aimed at generating jobs and improving the sector’s competitiveness globally.

Coal India: Coal India has secured a booking of about 2.05 mt against the offer of 3.78mt in the first tranche of linkage auction for the non-regulated sponge iron sector.

CESC: The company has signed a franchise agreement for power distribution in Kota and Bharatpur in Rajasthan, as per media reports.

Lupin: The pharma company has received approval from the US Food and Drug Administration for its generic Amabelz tablets in the American market.

TCS: TCS has partnered with four colleges to offer courses in Big Data as it looks to strengthen the pool of workforce in the digital technology space in India.

SpiceJet: The airline company is offering one-way fares beginning at Rs.444 (excluding taxes and fees) in a five day sale offer.

V-Guard Industries: The company is planning to set up two more manufacturing units, one for water heaters and another for fans.

IRB Infrastructure: The company has announced that AE Tollway Pvt. Ltd. - wholly-owned Subsidiary of the Company, has achieved financial closure in terms of the Concession Agreement executed with NHAI, by tying up of Project finance of Rs. 1,650 crore.

Motherson Sumi: The company said that there are frequent requests/ suggestions from Investors to simplify the group structure and the Company does get many suggestions / alternatives from banks / advisors.

GIPCL: GIPCL has emerged as successful Bidder in the e-Reverse auction for selection of Bidder for 40 MW Solar Power Project in Gujarat Solar Park, Village Charanka under National Solar Mission Phase-II, Batch IV.

Lokesh Machines: The company board meeting on Jun 28 to consider allotment of Equity shares and warrants on preferential basis.