Oil & Gas stock up 1.2%; ONGC climbs 4%

The BSE Oil & Gas is trading up 1.2% or 124.65 points at 10,251.35 as against the previous close of 10,126.70.

Shares of ONGC and Oil India were up in the range of 4% to 3%. The BSE Oil & Gas is trading up 1.2% or 124.65 points at 10,251.35 as against the previous close of 10,126.70.

The  BSE Oil & Gas opened at 10,218.30 and hits a high of 10,321.52 and a low of 10,179.67.

Oil companies has received approval to increase kerosene price by 25 paise every month till April 2017, according to reports. Currently, under-recoveries on kerosene and LPG are Rs 13.1 a litre and Rs 116 per cylinder, respectively.

Oil & Natural Gas Corpn Ltd is currently trading at Rs. 238.45, up by Rs. 10.7 or 4.7% from its previous closing of Rs. 227.75 on the BSE.

The scrip opened at Rs. 233.85 and has touched a high and low of Rs. 241.3 and Rs. 232.5 respectively. So far 6027689(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 194851.29 crore.

Oil India Ltd is currently trading at Rs. 376.9, up by Rs. 11.15 or 3.05% from its previous closing of Rs. 365.75 on the BSE. The scrip opened at Rs. 372 and has touched a high and low of Rs. 380.9 and Rs. 372 respectively. So far 1715271(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 21986.55 crore.

Sun Pharma's leadership update for India, North America and Emerging Markets

Sun Pharma has announced that effective August 2016, Abhay Gandhi will take over as CEO, North America Business.

Sun Pharma has announced that effective August 2016, Abhay Gandhi will take over as CEO, North America Business.

Kal Sundaram will assume the position of CEO-India business and emerging markets.

Sun Pharmaceuticals Industries Ltd is currently trading at Rs. 790.9, up by Rs. 7.15 or 0.91% from its previous closing of Rs. 783.75 on the BSE.

The scrip opened at Rs. 789 and has touched a high and low of Rs. 794.75 and Rs. 775.55 respectively. So far 1252947(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 188629.34 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 965.15 on 20-Aug-2015 and a 52 week low of Rs. 706.4 on 24-Nov-2015. Last one week high and low of the scrip stood at Rs. 793.25 and Rs. 774.8 respectively.

The promoters holding in the company stood at 54.97 % while Institutions and Non-Institutions held 35.37 % and 9.65 % respectively.

The stock is currently trading above its 200 DMA.

Suven Life gets patent and other top pharma news

Kalyanasundaram Subramanian, or Kal Sundaram, an old hand at Sun Pharmaceutical Industries, is coming back home. He will be leading the India and sub-continent business starting January 2017.

Pharmaceutical company Suven Life Sciences has been granted a patent each by India and South Africa for a drug used in treatment of neuro-degenerative diseases.

Kalyanasundaram Subramanian, or Kal Sundaram, an old hand at Sun Pharmaceutical Industries, is coming back home. He will be leading the India and sub-continent business starting January 2017. Post the acquisition of Ranbaxy, Sun has taken the top rank in India, with a market share of 8.7%. The decision to bring back Sundaram from Taro Pharmaceutical Industries, the money-spinning unit of Sun Pharma, signals a move that’s possibly aimed at shaping the next stage of growth for India’s largest drugmaker, analysts and industry experts said.

Scientists, including one of Indian-origin, have developed a new technology to observe the back of the eye and detect Alzheimer’s before the onset of symptoms, an advance that may help diagnose the debilitating disease early. Clinical trials are to start in this month to test the technology in humans, researchers said. The research builds upon previous work in cells by detecting changes in the retina of mice predisposed to develop Alzheimer’s.

The Medicines Patent Pool (MPP), a United Nations- backed public health organisation working to increase access to HIV viral he patitis- C and tuberculosis treatments in low and middle-income countries, has signed manufacturing licences with six Indian pharmaceutical companies to produce generic versions of antiretro virals and hepatitis-C antiviral. The companies include Aurobindo Pharma, Emcure, Hetero Labs, Laurus Labs, Lupin and Zydus Cadila, besides a Chinese company Desano, for a total of nine sub-licensing agreements.

With corporate employees spending 60-70% of their time in offices, workplace health is not an option or a benefit but a necessity. Large firms are beginning to play a larger role as far as the well-being of their workforce is concerned, but the country is not investing on preventive care, panellists said at the fifth Mint Healthcare Conclave in Mumbai on 17 June. Not doing so will mean enormous costs in terms of illness and insurance claims, they warned. 

Sun Pharma has announced that effective August 2016, Abhay Gandhi will take over as CEO, North America Business. Kal Sundaram will assume the position of CEO-India business and emerging markets.

Opto Circuits (India) Ltd has announced that wholly owned subsidiary, Eurocor Gmbh, launchesCoated Shunt Balloon Catheter, used for DIALYSIS patients which reduces re-intervention and preserves future treatment options.

Beginning this week, BD, the medical technology brand will work with diabetes management hospital professionals in Columbia Asia hospitals across India, for a period of nine months through its BD Getting Started program.

The Central TB division (CTD), Ministry of Health & Family Welfare, the North Maharashtra University (NMU) together with The International Union against Tuberculosis and Lung Disease (The Union) and United States Agency for International Development (USAID) organized a research and academia conclave in the city.

Apollo Hospitals announced that it recently signed a MoU with Stanford University for the Stanford South Asian Translational Heart Initiative (SAATHI) related to South Asians and Chronic Disease.

Indiabulls Real Estate raises Rs 25 cr via NCDs; plunges 8%

Indiabulls Real Estate Ltd has announced that the Operations Committee of the Board of Directors of the Company has allotted Secured, Redeemable, Non-Convertible Debentures.

Indiabulls Real Estate Ltd has announced that the Operations Committee of the Board of Directors of the Company has allotted Secured, Redeemable, Non-Convertible Debentures (NCDs) on a Private Placement basis aggregating Rs. 25 crore.

Indiabulls Real Estate Ltd stock is currently trading at Rs. 88, down by 8%.

The scrip opened at Rs. 96 and has touched a high and low of Rs. 96.25 and Rs. 86.65 respectively. So far 17321932(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 4839.06 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 105.25 on 30-May-2016 and a 52 week low of Rs. 42.25 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 96.25 and Rs. 90 respectively.

The promoters holding in the company stood at 47.63 % while Institutions and Non-Institutions held 19.07 % and 33.22 % respectively.

The stock is currently trading below its 50 DMA.

Cairn India rallies 7%

Cairn Energy has raised $5.6 bn compensation demand from the Indian government for a breach in investment treaty arising out of the retrospective tax demand of Rs. 29,047 crore, says report

Cairn India Ltd stock was higher by 7% at Rs.174.Report says that Cairn Energy has raised $5.6 bn compensation demand from the Indian government for a breach in investment treaty arising out of the retrospective tax demand of Rs. 29,047 crore.

The scrip opened at Rs. 163 and has touched a high and low of Rs. 176.95 and Rs. 160.2 respectively. So far 5812973(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 30475.89 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 184.2 on 23-Jul-2015 and a 52 week low of Rs. 106.6 on 19-Jan-2016. Last one week high and low of the scrip stood at Rs. 166 and Rs. 144.1 respectively.

The promoters holding in the company stood at 59.88 % while Institutions and Non-Institutions held 25.88 % and 14.23 % respectively.

The stock is currently trading above its 100 DMA.

TCS Q1 FY17 results: Six things to watch out for

Brexit, wage hikes, rise in visa costs, currency volatility and softness in Diligenta and Japan, are likely to impact the revenue growth in first quarter of FY17.

Tata Consultancy Services (TCS), largest IT firm of the country, will announce financial results for the first quarter ended June 30, 2016 on July 14. The company beat street estimates in Q4 FY16 and is expected to continue the momentum in FY17 driven by digital growth. Q1 is traditionally a strong quarter for IT companies. However, Brexit, wage hikes, rise in visa costs, currency volatility and softness in Diligenta and Japan are likely to impact the revenue growth in first quarter of FY17.

Here are six things to watch out for:

Brexit: Brexit is likely to impact TCS as about 26% revenue of the company is generated from Europe. "Changed economic conditions due to Brexit could impact TCS the most on account of 14% GBP exposure," a global brokerage firm was quoted as saying.

Wage hikes: TCS CEO N Chandrasekaran's compensation rose 20% to Rs 25.6 crore in FY16 and he received an additional Rs 10 crore as one-time special bonus, as per reports. The company announced hike of 8% to 12% for the employees in India whereas 2-6% hike for the employees in other regions in FY17.

Digital revolution: Digital revenues of the company grew at 15.5% in Q4 FY16, registering a digital growth of 52.2% yoy. While announcing Q4 results, N Chandrasekaran said, “I am very happy with the Digital growth. Digital is going to be the future. I see the momentum to continue with the deal wins we are seeing in this space.”

Chairman Cyrus Mistry, addressing 2016 Annual General Meet, said that the company is well positioned to lead the digital revolution. “The company has been investing heavily to train, acquire talent and building intellectual property in digital services," he said.

Softness in Diligenta and Japan: TCS does not expect Diligenta business to decline further however the company said that Japan business will need some time to stabilize.

BFSI and other segments: Although the company is seeing good traction in the BFSI sector since last quarter, Brexit may how an impact on BFSI revenues. Media and Telecom remain a matter of concern, however he company does not see a major headwind in these two segments.

Lower recruitment in FY17: The company, during the announcement of Q4 results, said that their lateral recruitment for FY17 will be much lower than FY16 due to less attrition and focus on automation. Attrition rate has dropped 14.5% in FY16 and is expected to decline further.

Top 18 stocks in focus today: Tata Motors, M&M, IDFC Bank

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

Tata Motors: Tata Motors is planning to raise Rs.400 crore by issuing non-convertible debentures and will hold a board committee meeting for this on Friday. 

Indiabulls Real Estate: The company said it has raised Rs.25 crore through issue of non-convertible debentures on private placement basis.

Cairn India: Cairn Energy is seeking $5.6 billion in compensation from the Indian government for raising a retrospective tax demand of Rs 29,047 crore, according to reports.

Mahindra and Mahindra: Mahindra and Mahindra will seek its shareholders’ approval for raising up to Rs.5,000 crore through issuance of securities on private placement basis from domestic and international markets.

DHFL: The company is planning to further raise share of retail deposits in overall fund to 10% this fiscal as part of its strategy to diversify the sources of borrowings.

Kwality Ltd: US private equity firm KKR is planning to invest Rs. 520 crore in Kwality Ltd, through structured debt instruments, according to reports.

GE Shipping: Great Eastern Shipping Company Ltd has signed contract contracts to buy a Medium Range Product Tanker.

Jaiprakash Power Ventures: Jaiprakash Power Ventures announced that the Board in the said meeting will also consider the proposed Scheme of Arrangement for hive-off and transfer of 500 MW Jaypee Bina Thermal Power Plant of the Company to its subsidiary Company.

Datamatics Global: Datamatics Global has agreed to acquire balance 26.88% stake in Lumina Datamatics Limited i.e. 59,902 fully paid Equity Shares of Rs. 10/-.

Artson Engineering: Artson Engineering has received a Letter of Intent (LoI) for an order at estimated value of Rs 10.4 crore for the scope of process piping and equipment erection for a Chemical Storage Terminal Project.

IDFC Bank: IDFC Bank signed a share purchase agreement to acquire 100% of Grama Vidiyal Micro Finance.

Sical Logistics: Sical Logistics  has announced that further to the letter of intent issued by the Kamarajar Port to the company's subsidiary  Sical Iron Ore Terminals Limited [SIOTL], SIOTL has executed the licence agreement with Kamarajar Port for modification of the existing iron ore terminal on "as is where is" to also handle common user coal at Kamarajar Port on DBFOT basis on July 11, 2016.

Suven Life Sciences: The company announced that it has secured two patents in India and South Africa.

Vedanta Limited: Vedanta has signed two memorandam of understanding (MoUs) with South African companies for supply of equipment, and transfer of technology to improve safety and productivity at its underground mines of its subsidiary, Hindustan Zinc.

MTNL: MTNL and  Hungama have partnered to offer exclusive entertainment service to MTNL’s broadband customers in Delhi and Mumbai.

Piramal Enterprises: Piramal Enterprises Ltd is seeking shareholder's nod to issue NCDs on private placement basis. The company is also seeking the same to buy office premises at Kurla for Rs.439 crore.

Avanti Feeds: The board of directors of Avanti Frozen Foods Private Ltd., at its meeting held on July 11, 2016 allotted 40,06,667 equity shares of Rs. 10/- each to Thai Union Group PCL on preferential basis at a premium of Rs. 303/- per share.