Friday, 15 July 2016

GST discussions gather momentum

Finance Minister Arun Jaitley & Ananth Kumar met Ghulam Nabi Azad & Anand Sharma on GST.

Arun Jaitley at Parliament House

Finance Minister Arun Jaitley and Ananth Kumar met Ghulam Nabi Azad and Anand Sharma on GST seeking support for speedy passage of the bill in the monsoon session of Parliament. Earlier, on Thursday, Information Minister Venkaiah Naidu spoke to Opposition Head in the Rajya Sabha, Ghulam Nabi Azad as well to reach a consensus.


Among other current news, Allcargo Logistics Ltd is currently trading at Rs. 188.95, down by Rs. 3.25 or 1.69% from its previous closing of Rs. 192.2 on the BSE.

The scrip opened at Rs. 193.6 and has touched a high and low of Rs. 193.95 and Rs. 186.15 respectively. So far 300010(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 4845.28 crore.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 217.9 on 30-Dec-2015 and a 52 week low of Rs. 128.08 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 193.9 and Rs. 179.7 respectively.

The promoters holding in the company stood at 69.92 % while Institutions and Non-Institutions held 14.11 % and 15.97 % respectively.

The stock is currently trading above its 200 DMA.

Gateway Distriparks Ltd is currently trading at Rs. 293, down by Rs. 7.5 or 2.5% from its previous closing of Rs. 300.5 on the BSE.

The scrip opened at Rs. 301.75 and has touched a high and low of Rs. 303.4 and Rs. 288.95 respectively. So far 116501(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 3267.28 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 378 on 05-Aug-2015 and a 52 week low of Rs. 205.6 on 22-Feb-2016. Last one week high and low of the scrip stood at Rs. 313.65 and Rs. 295.6 respectively.

The promoters holding in the company stood at 25.17 % while Institutions and Non-Institutions held 66.28 % and 8.55 % respectively.

The stock is currently trading below its 200 DMA.

LIC Housing Finance Q1 net profit up 6.7% at Rs.407.8 crore

The company has posted a net profit of Rs.407.8 crore for the quarter ended June 30, 2016 as compared to Rs.382.1 crore for the quarter ended June 30, 2015.

LIC Housing Finance Ltd has announced the Unaudited Standalone results for the quarter ended June 30, 2016.

The company has posted a net profit of Rs.407.8 crore for the quarter ended June 30, 2016 as compared to Rs.382.1 crore for the quarter ended June 30, 2015. The company's total income has increased from Rs.2965.4 crore for the quarter ended June 30, 2015 to Rs.3379.8 crore for the quarter ended June 30, 2016.

Stock View:
LIC Housing Finance Ltd is currently trading at Rs. 521.4, up by Rs. 14.85 or 2.93% from its previous closing of Rs. 506.55 on the BSE.

The scrip opened at Rs. 511.5 and has touched a high and low of Rs. 522.8 and Rs. 503.25 respectively. So far 5110040(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 25563.05 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 533 on 12-Jul-2016 and a 52 week low of Rs. 389 on 25-Feb-2016. Last one week high and low of the scrip stood at Rs. 533 and Rs. 497 respectively.

The promoters holding in the company stood at 40.31 % while Institutions and Non-Institutions held 37.57 % and 22.12 % respectively.

Infosys Q1 FY17: Constant currency revenue guidance revised to 10.5-12%

The consolidated net profit dropped 4.4% to Rs. 3,436 crore in Q1 FY17 as against Rs.3,597 crore in Q4 FY16.

IT bellwether Infosys announced its financial results for the first quarter ended June 30, 2016 on July 15.

The company revised constant currency revenue guidance to 10.5-12% from 11.5-13.5%.

The consolidated net profit  dropped 4.4% to Rs. 3,436 crore in Q1 FY17 as against Rs.3,597 crore in Q4 FY16.

The company posted rupee revenue of Rs.16,780 crore in Q1 FY17 as compared with Rs.16,550 crore qoq while the dollar revenue stood at $2,501 million as against $2,446 million yoy. 

Operating margins for Q1 FY17 stood at 24.1%.

Infosys drops 7.7% post Q1 FY17 results

The consolidated net profit dropped 4.4% to Rs. 3,436 crore in Q1 FY17 as against Rs.3,597 crore in Q4 FY16.

Infosys plunged 7.7% to Rs.1085 post Q1 FY17 results. IT bellwether Infosys announced its financial results for the first quarter ended June 30, 2016 on July 15. The consolidated net profit  dropped 4.4% to Rs. 3,436 crore in Q1 FY17 as against Rs.3,597 crore in Q4 FY16.

The company posted rupee revenue of Rs.16,780 crore in Q1 FY17 as compared with Rs.16,550 crore qoq while the dollar revenue stood at $2,501 million as against $2,446 million yoy. The company revised constant currency revenue guidance to 10.5-12% from 11.5-13.5%.

The scrip opened at Rs. 1186.35 and has touched a high and low of Rs. 1195 and Rs. 1060 respectively. So far 4344646(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 270086.24 crore.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1278 on 03-Jun-2016 and a 52 week low of Rs. 969 on 15-Jul-2015. Last one week high and low of the scrip stood at Rs. 1195.05 and Rs. 1153.2 respectively.

The promoters holding in the company stood at 12.75 % while Institutions and Non-Institutions held 57.71 % and 29.05 % respectively.

The stock is currently trading below its 50 DMA.

Infosys Q1 FY17 results: Net profit drops 4.4% to Rs.3,436 crore qoq

Vishal Sikka-led company missed street estimates in Q1 after posting strong growth form last four consecutive quarters.

Infosys Tech
IT bellwether Infosys announced its financial results for the first quarter ended June 30, 2016 on July 15. Vishal Sikka-led company missed street estimates in Q1 after posting strong growth form last four consecutive quarters.

The consolidated net profit  dropped 4.4% to Rs. 3,436 crore in Q1 FY17 as against Rs.3,597 crore in Q4 FY16.

The company posted rupee revenue of Rs.16,780 crore in Q1 FY17 as compared with Rs.16,550 crore qoq while the dollar revenue stood at $2,501 million as against $2,446 million yoy.

Titan gains 3%; to acquire 62% stake in Carat Lane

The company is planning to acquire 62% stake in Carat Lane for Rs. 357.24 crore.

Titan Company
Titan Ltd stock was higher by 3% to Rs.428.The company is planning to acquire 62% stake in Carat Lane for Rs. 357.24 crore.

Report says that the number of shares to be acquired is 1,91,42,545 representing 62 per cent of the company’s (Carat Lane) share capital.

The scrip opened at Rs. 425 and has touched a high and low of Rs. 431 and Rs. 421.7 respectively. So far 266403(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 36821.51 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 416.25 on 14-Jul-2016 and a 52 week low of Rs. 303 on 29-Feb-2016. Last one week high and low of the scrip stood at Rs. 416.25 and Rs. 398.1 respectively.

The promoters holding in the company stood at 53.05 % while Institutions and Non-Institutions held 25.32 % and 21.63 % respectively.

The stock is currently trading above its 50 DMA.

TCS drops 1% post Q1 FY17 results

TCS registered satisfactory growth, beating street estimates for the second consecutive quarter.

Tata Consultancy Services
Tata Consultancy Services (TCS) dropped 1% to Rs.2494.9 post Q1 FY17 results. Country’s largest IT firm announced its financial results for the first quarter ended June 30, 2016 on July 14. TCS registered satisfactory growth, beating street estimates for the second consecutive quarter.

TCS net revenue climbed 3% to Rs.29,305 crore in Q1 FY17 as compared with Rs.28,449 crore in Q4 FY16. The dollar revenue grew by 3.7%. The company registered a net profit of Rs.6,317 crore, up 9.9% yoy but down 0.4% qoq. The operating margin stood at 25.1% while operating profit was registered at Rs.7,347 crore.

The scrip opened at Rs. 2524 and has touched a high and low of Rs. 2528 and Rs. 2465.05 respectively. So far 438007(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 496606.95 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 2769 on 05-Oct-2015 and a 52 week low of Rs. 2119 on 29-Feb-2016. Last one week high and low of the scrip stood at Rs. 2526.85 and Rs. 2404.5 respectively.

The promoters holding in the company stood at 73.34 % while Institutions and Non-Institutions held 22.15 % and 4.51 % respectively.

The stock is currently trading below its 50 DMA.

ONGC seeks buyers for deep-water field

The gas produced from this well is currently sold at $3.06 per unit,says Tapas Kumar Sengupta, director (offshore).

Oil and Natural Gas Corporation (ONGC) is seeking buyers for gas from a new deepwater field in the KG Basin, , according to reports.

ONGC4The gas produced from this well is currently sold at $3.06 per unit,says Tapas Kumar Sengupta, director (offshore) at ONGC. 

A well at Vashishta & S1 field off the eastern coast, has been producing for about a month.

Oil & Natural Gas Corpn Ltd ended at Rs. 231, down by Rs. 3.6 or 1.53% from its previous closing of Rs. 234.6 on the BSE.

The scrip opened at Rs. 233.65 and touched a high and low of Rs. 234.5 and Rs. 229.35 respectively. A total of 7177802(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 197631.82 crore.

The BSE group 'A' stock of face value Rs. 5 touched a 52 week high of Rs. 295.45 on 15-Jul-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. 241.3 and Rs. 222.6 respectively.

The promoters holding in the company stood at 68.93 % while Institutions and Non-Institutions held 17.45 % and 13.62 % respectively.

The stock traded above its 200 DMA.

Live Stock Market Updates - Sensex hits 28 K; Nifty above 8,550 mark

The BSE Mid-cap Index is trading up 0.61% at 12,188, whereas BSE Small-cap Index is trading up 0.28% at 12,103. A total of 26 stocks registered a fresh 52-week high in trades today, while eight stocks touched a new 52-week low on the NSE.

At 9:30 AM, the S&P BSE Sensex is trading at 28,045 up 103 points, while NSE Nifty is trading at 8,582 up 16 points.

The BSE Mid-cap Index is trading up 0.61% at 12,188, whereas BSE Small-cap Index is trading up 0.28% at 12,103.

Adani Ports, ITC, M&M, SBI, Hero MotoCorp, Infosys and HUL are among the gainers, whereas NTPC, HDFC, TCS, Coal India, Tata Steel, GAIL and PowerGrid are losing sheen on BSE.

The INDIA VIX is up 1.63% at 15.8650. Out of 1,799 stocks traded on the NSE,493 declined, 907 advanced and 399 remained unchanged today.

A total of 26 stocks registered a fresh 52-week high in trades today, while eight stocks touched a new 52-week low on the NSE.

Asian markets are trading higher. Japan's Nikkei surged 1.14%, Hong Kong's Hang Seng was up 0.65% and Shanghai Composite are trading marginally higher.

US stocks closed higher on Thursday. The Dow Jones Industrial Average closed at an all-time high for the third consecutive day, ending the day up 0.73% at 18,506 points. The S&P 500 ended half a per cent higher, at 2,163 points. The Nasdaq Composite had its sixth positive day of gains, closing half a per cent higher at 5,034 points.

On the other hand, the India's wholesale price index (WPI) rose 1.62% YoY in the month of June as compared to 0.79% in May.

Finance Minister Arun Jaitley reportedly said that those who have not yet declared their undisclosed foreign assets will face the consequences.“One of the objectives behind 2015 black money law was providing an opportunity to assessees to comply and some people made use of that opportunity,” Finance Minister Arun Jaitley said.

On the international front, the Bank of England has held the UK's main interest rate at 0.5% despite speculation that it would cut rates.The Monetary Policy Committee (MPC) voted 8-1 to leave rates unchanged, but minutes of the meeting showed most members expect the Bank will take some action next month. 

Infosys Q1 FY17 results: 7 things to watch out for

Vishal Sikka-led IT bellwether Infosys will announce its financial results for the first quarter ended June 30, 2016 on July 15.

Vishal-SikkaVishal Sikka-led IT bellwether Infosys will announce its financial results for the first quarter ended June 30, 2016 on July 15. The top tech firm has been beating street estimates for four consecutive quarters and is expected to continue the momentum marching aggressively towards its vision to achieve $20 billion in revenue by 2020. The company, however, has issued a warning with regards to weaker spending in Q1.

Here are seven things to watch out for in Infosys Q1 results:

Weaker spending: Infosys Chief Operating Officer (COO) U B Pravin Rao recently issued a warning saying that the company would face volatility over the next few quarters, due to weaker spending from sectors such as energy and insurance.

Revenue and margin guidance: FY17 revenue guidance of the company stands at 11.5%-13.5% in constant currency terms and at 11.8-13.8% in dollar terms whereas the margin guidance band is 24-26%. UB Pravin Rao said despite the volatility the company is on track to meet the full-year constant currency revenue guidance. Analysts expect that the company might turn the revenue guidance downwards.

Headwinds and softness: The top IT firm has been experiencing headwinds in verticals such as energy, telecom, and retail, as well as softness in the insurance sector. Rao recently said that Infosys does not expect a recovery in spending from the energy sector before 2017. The company is also facing a slowdown in its enterprise resource planning (ERP) and business process outsourcing (BPO) businesses.

Deal wins: While announcing Q4 FY16 results, the company said that the deal pipeline looks healthy. “We expect to achieve a deal win rate of $1 bn in the next two to three quarters. We would focus on securing a large number of smaller deals,” said CEO Vishal Sikka.

Focus on innovation: Vishal Sikka, addressing the 35th AGM said, “Infosys is moving towards a model based on innovation and the company has laid out a strategy consisting of two parts. The 'Renew' and 'New' strategy has been key for growth.”

Impact of Brexit and currency depreciation: The company experienced a slight drop in revenues from its business in Europe due to currency depreciation in FY16. Brexit may further impact Europe revenues.

Wage hikes: Wage hikes are likely to impact revenues in first quarter of FY17. Vishal Sikka raked in $7.45 million as annual salary for financial year 2015-16. Sikka's new salary structure enabled company's top executives to take home multi-million dollar pay cheques. The company handed out an average wage hike of about 6-12% for all its offshore employees and 2% hike for on-site employees.

Sensex, Nifty to open on a positive note

Asian markets are trading higher. Japan's Nikkei surged 1.14%, Hong Kong's Hang Seng was up 0.65% and Shanghai Composite are trading marginally higher.

Stock-market-bull
The indices are set to open on a positive note. Asian markets are trading higher. Japan's Nikkei surged 1.14%, Hong Kong's Hang Seng was up 0.65% and Shanghai Composite are trading marginally higher.

US stocks closed higher on Thursday. The Dow Jones Industrial Average closed at an all-time high for the third consecutive day, ending the day up 0.73% at 18,506 points. The S&P 500 ended half a per cent higher, at 2,163 points. The Nasdaq Composite had its sixth positive day of gains, closing half a per cent higher at 5,034 points.

On the other hand, the India's wholesale price index (WPI) rose 1.62% YoY in the month of June as compared to 0.79% in May.

Finance Minister Arun Jaitley reportedly said that those who have not yet declared their undisclosed foreign assets will face the consequences.“One of the objectives behind 2015 black money law was providing an opportunity to assessees to comply and some people made use of that opportunity,” Finance Minister Arun Jaitley said.

On the international front, the Bank of England has held the UK's main interest rate at 0.5% despite speculation that it would cut rates.The Monetary Policy Committee (MPC) voted 8-1 to leave rates unchanged, but minutes of the meeting showed most members expect the Bank will take some action next month.

Among other stocks in focus:

Infosys: The IT company will announce its Q1 results today.

Reliance Industries Ltd: Reliance Industries Ltd will announce its Q1 result today.

TCS: The company registered a net profit of Rs.6,317 crore, up 9.9% yoy but down 0.4% qoq. The operating margin stood at 25.1% while operating profit was registered at Rs.7,347 crore.

HDFC: The company has raised Rs.3,000 crore through these rupee-denominated bonds that got over-subscribed by 4.3 times.

Wockhardt: Drug major Wockhardt Ltd has sought shareholders’ approval for raising up to Rs.1,200 crore through issuance of non-convertible debentures (NCDs) on private placement basis.

DCB Bank: The bank posted net profit of Rs.47.01 crore for the first quarter ended June, which was marginally up from Rs.46.87 crore posted in the corresponding quarter of FY16.

PNC Infratech: PNC Infratech has been declared the L1 (lowest) bidder for the project of four laning / two laning with paved shoulders from 0.00 km to 83.453 km of Dausa-Lalsot-Kauthun section of NH-11 A (Extension) in the state of Rajasthan under NHDP IV, on Hybrid Annuity Model for a bid project cost of Rs.881 crores.

Vimta Labs: The company said its net profit rises 114% from a year ago to Rs.2.71 crore in June quarter as compared to Rs.1.26 crore a year ago.

Rajesh Exports: The company has bagged Rs. 786 crore worth export order.

Titan Company Ltd: The company said that it would acquire around 62% of shares in online jewellery Carat Lane Trading Pvt Ltd, for a consideration of Rs.3.57 billion.

Can Fin Homes: The copany has reported a jump of 54.9% in the April-June quarter's net profit at Rs.49.72 crore.

SPML Infra: SPML Infra said its joint venture with Tata Projects has secured three new orders for design and construction of sewerage systems with provision of treated wastewater reuse from the Rajasthan government.

Vedanta: Vedanta Resources plc has repaid in full and redeemed the $514.8 million of outstanding amount on its 5.5% 2016 convertible bonds due on 13th July 2016.

Power Finance Corporation: The board of directors of the company has approved increase in the authorized share capital of the company from present Rs.2,000 crore divided into 200 Crores equity shares of Rs.10 each to Rs. 10,000 crores divided into 10,000 crore equity shares of Rs. 10 each and corresponding amendment in the capital clause of Memorandum of Association of the company.

Cyient:
 The consolidated net profit surged 12% to Rs.74 crore in Q1 FY17 as against Rs.66 crore.

Dishman Pharma:Dishman Pharmaceuticals and Chemicals' wholly owned subsidiary, namely Carbogen Amcis AG., Switzerland, has successfully completed inspection from United States Food and Drug Administration (USFDA) for its two sites located at Aarau and Neuland without any adverse observations and received the Establishment Inspection Report.

Granules Pharma: Granules Pharmaceuticals Inc (GPI), a wholly-owned arm of Granules India Ltd, will be acquiring 12.5% stake in the US-based USpharma.

Hero MotoCorp: Hero MotoCorp launched the new Splendor iSmart 110 – the first motorcycle to be developed completely in-house, with Hero’s own technology.

Spice Mobility: Spice Mobility Ltd has announced that Spice Digital Limited (SDL), a subsidiary of the Company, has acquired further 3.07% stake in Sunstone Learning.

Results: Reliance Industries, Infosys,Mastek, LIC Housing Finance, NIIT Technologies, Steel Strips Wheels Ltd, Linear Industries, Mahashree Trading, Hatsun Agro Product, Golkonda Aluminium Extrusions, Amal, India Gelatine & Chemicals

Global Data: CNY M2 Money Supply (YoY) (Jun), CNY Industrial Production (YoY) (Jun),CNY NBS Press Conference SPEECH, CNY Gross Domestic Product (YoY) (Q2), CNY Gross Domestic Product (QoQ) (Q2),CNY Retail Sales (YoY) (Jun),CNY Urban investment (YTD) (YoY) (Jun), EUR Global Trade Balance (May), EUR Trade Balance EU (May), EUR Trade Balance n.s.a. (May), EUR Trade Balance s.a. (May),EUR Consumer Price Index (MoM) (Jun),EUR Consumer Price Index - Core (MoM) (Jun), EUR Consumer Price Index - Core (YoY) (Jun), EUR Consumer Price Index (YoY) (Jun),GBP BOE's Governor Carney speech SPEECH, USD Current Account (Q2), USD NY Empire State Manufacturing Index (Jul), USD Retail Sales ex Autos (MoM) (Jun), USD Retail control (Jun),USD Retail Sales (MoM) (Jun), USD Consumer Price Index Core s.a (Jun),USD Consumer Price Index (MoM) (Jun), USD Consumer Price Index n.s.a (MoM) (Jun),USD Consumer Price Index Ex Food & Energy (MoM) (Jun),USD Consumer Price Index (YoY) (Jun), USD Consumer Price Index Ex Food & Energy (YoY) (Jun), CAD Manufacturing Shipments (MoM) (May),USD Capacity Utilization (Jun), USD Industrial Production (MoM) (Jun),GBP CB Leading Economic Index (Jun), USD Reuters/Michigan Consumer Sentiment Index (Jul)PRELIMINAR, USD Business Inventories (May)

Trends in FII flows: The domestic institutional investors (DIIs) were net sellers of Rs.8.74 bn in the cash segment on Thursday, while FIIs were net buyers of Rs.8.69 bn, as per the provisional figures released by the NSE.

Top 18 stocks in focus today: Reliance Industries, Infosys, TCS, HDFC

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

Stocks to watchInfosys: The IT company will announce its Q1 results today.

Reliance Industries Ltd: Reliance Industries Ltd will announce its Q1 result today.

TCS: The company registered a net profit of Rs.6,317 crore, up 9.9% yoy but down 0.4% qoq. The operating margin stood at 25.1% while operating profit was registered at Rs.7,347 crore.

HDFC: The company has raised Rs.3,000 crore through these rupee-denominated bonds that got over-subscribed by 4.3 times.

Wockhardt: Drug major Wockhardt Ltd has sought shareholders’ approval for raising up to Rs.1,200 crore through issuance of non-convertible debentures (NCDs) on private placement basis.

DCB Bank: The bank posted net profit of Rs.47.01 crore for the first quarter ended June, which was marginally up from Rs.46.87 crore posted in the corresponding quarter of FY16.

PNC Infratech: PNC Infratech has been declared the L1 (lowest) bidder for the project of four laning / two laning with paved shoulders from 0.00 km to 83.453 km of Dausa-Lalsot-Kauthun section of NH-11 A (Extension) in the state of Rajasthan under NHDP IV, on Hybrid Annuity Model for a bid project cost of Rs.881 crores.

Vimta Labs: The company said its net profit rises 114% from a year ago to Rs.2.71 crore in June quarter as compared to Rs.1.26 crore a year ago.

Rajesh Exports: The company has bagged Rs. 786 crore worth export order.

Titan Company Ltd: The company said that it would acquire around 62% of shares in online jewellery Carat Lane Trading Pvt Ltd, for a consideration of Rs.3.57 billion.

Can Fin Homes: The copany has reported a jump of 54.9% in the April-June quarter's net profit at Rs.49.72 crore.

SPML Infra: SPML Infra said its joint venture with Tata Projects has secured three new orders for design and construction of sewerage systems with provision of treated wastewater reuse from the Rajasthan government.

Vedanta: Vedanta Resources plc has repaid in full and redeemed the $514.8 million of outstanding amount on its 5.5% 2016 convertible bonds due on 13th July 2016.

Power Finance Corporation: The board of directors of the company has approved increase in the authorized share capital of the company from present Rs.2,000 crore divided into 200 Crores equity shares of Rs.10 each to Rs. 10,000 crores divided into 10,000 crore equity shares of Rs. 10 each and corresponding amendment in the capital clause of Memorandum of Association of the company.

Cyient:
 The consolidated net profit surged 12% to Rs.74 crore in Q1 FY17 as against Rs.66 crore.

Dishman Pharma:Dishman Pharmaceuticals and Chemicals' wholly owned subsidiary, namely Carbogen Amcis AG., Switzerland, has successfully completed inspection from United States Food and Drug Administration (USFDA) for its two sites located at Aarau and Neuland without any adverse observations and received the Establishment Inspection Report.

Granules Pharma: Granules Pharmaceuticals Inc (GPI), a wholly-owned arm of Granules India Ltd, will be acquiring 12.5% stake in the US-based USpharma.

Hero MotoCorp: Hero MotoCorp launched the new Splendor iSmart 110 – the first motorcycle to be developed completely in-house, with Hero’s own technology.

Spice Mobility: Spice Mobility Ltd has announced that Spice Digital Limited (SDL), a subsidiary of the Company, has acquired further 3.07% stake in Sunstone Learning.