Dr. Reddy's Lab launches Omeprazole and Sodium bicarbonate capsules in US

The Zegerid® brand and generic had U.S. sales of approximately $306.7 million MAT for the most recent twelve months ending in May 2016 according to IMS Health.

Dr. Reddy's Laboratories announced today that it has launched Omeprazole and Sodium bicarbonate capsules, 20mg/1100mg and 40mg/1100mg, a therapeutic equivalent generic version of ZEGERID (omeprazole/sodium bicarbonate) capsules in the United States market, having been approved by the U.S. Food & Drug Administration (USFDA).

The Zegerid® brand and generic had U.S. sales of approximately $306.7 million MAT for the most recent twelve months ending in May 2016 according to IMS Health.

Dr. Reddy's Omeprazole and sodium bicarbonate capsules 20 mg/1100 mg and 40 mg/1100 mg are available in bottle count size of 30.

Zegerid is a registered trademark of Santarus, Inc. a wholly owned subsidiary of Salix  Pharmaceuticals, Inc.

Dr Reddys Laboratories Ltd is currently trading at Rs. 3584.95, up by Rs. 1.9 or 0.05% from its previous closing of Rs. 3583.05 on the BSE.

The scrip opened at Rs. 3572 and has touched a high and low of Rs. 3610.8 and Rs. 3563.95 respectively. So far 113580(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 61161.93 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. 3633 and Rs. 3554.4 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.

Axis Bank rises 1.8% after FII limit raised

The Reserve Bank of India increased limit for foreign shareholding in the third-biggest private sector lender to up to 74 per cent from 62 per cent earlier.

Axis Bank rose 1.8% to Rs.575. The Reserve Bank of India has notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolio Investors (RFPIs) can now invest from an existing 62% up to 74% of the paid up capital of Axis Bank Ltd. under the Portfolio Investment Scheme (PIS).

The bank declared its marginal cost of funds based lending rate (MCLR) for one year at 9.30 per cent. The 1 month and 3 Month MCLRs are reduced by 10 basis points, while the overnight, 6months, 1 year, 2 year and 3 year MCLRs are reduced by 5 basis points.

The scrip opened at Rs. 571.8 and has touched a high and low of Rs. 575.4 and Rs. 569 respectively. So far 3342206(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 134836.32 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. 570.7 and Rs. 542.15 respectively.

The promoters holding in the company stood at 29.71 % while Institutions and Non-Institutions held 57.25 % and 9.47 % respectively.

Sun Pharma, SPARC sign licencing pact for Levetiractam ER and other top pharma news

Torrent Pharmaceuticals and Temasek-backed Intas are the latest to join the race, to acquire a band of products in Europe put on the block by Teva, the world’s largest generic drug maker. The deal, said to be valued up to $1.5 billion, has seen the Hyderabad-based Aurobindo Pharma emerge as one of the front runners in the initial rounds. The drug maker is currently working on ways to mop up finances for the deal, should it make the cut, three people familiar with the developments.

Sun Pharma Advanced Research Company Ltd (SPARC) and Sun Pharma announced a licensing arrangement for SPARC's ELEPSIA XR (Levetiracetam ER Tablets). As per arrangement, SPARC will license ELEPSIA XR (Levetiracetam Extended Release tablets) to a wholly-owned subsidiary of Sun Pharma for the US market.

Torrent Pharmaceuticals and Temasek-backed Intas are the latest to join the race, to acquire a band of products in Europe put on the block by Teva, the world’s largest generic drug maker. The deal, said to be valued up to $1.5 billion, has seen the Hyderabad-based Aurobindo Pharma emerge as one of the front runners in the initial rounds. The drug maker is currently working on ways to mop up finances for the deal, should it make the cut, three people familiar with the developments. (ET)

Dr Reddy's Laboratories expects complex generics, proprietary products, including creation of branded generics platform in the US, to be the main drivers of its growth going forward. (FC)

Glenmark Pharmaceuticals Ltd has informed BSE that subsequent to the rating received by the leading credit agencies in the world i.e. S&P and Fitch, Glenmark Pharmaceuticals limited has decided to tap into the International Bond market and is planning to raise around USD 200 mn by issuing USD denominated non-convertible unsecured bonds.

JB Chemicals & Pharmaceuticals Ltd has announced that this has reference to disclosures earlier made in relation to Order dated 8-1-2016 passed by National Green Tribunal (NGT) which, inter alia, directed the closure of industrial activities at the Company’s built drugs plant at Panoli, Gujarat. We also refer to disclosure made on May 19, 2016 informing the Exchange that NGT by Judgement and Order dated 17-5-2016 did not allow the Company’s Application for review of the Order passed on 8-1-2016 (Collectively the Orders).

US brokerage firm Jefferies said India's pharma sector may report strong revenue growth for the June quarter. It expects revenue growth of 17 per cent, led by exclusivity launches. (FC)

A second laboratory on the premises of Avon Lifesciences Ltd, from where nearly 20 tonnes of Ephedrine was seized recently, has attracted the attention of the Thane police. Investigators had alleged that the firm was diverting Ephedrine, a controlled substance used to make medicines, to drug cartels to cook the make party drug Meth. An officer linked to the probe said, “The company has one laboratory for production purposes. While conducting searches at the premises, we found a second laboratory, which appears to have been set up some time ago. When we asked why the second laboratory was needed, we did not get a convincing answer.” (IE)

MindTree slips 3% ahead of Q1 result

The IT company will announce its financial result for the first quarter ended June 30, 2016 on July 18.

MindTree slipped 3% to Rs.617 on BSE. The IT company will announce its financial result for the first quarter ended June 30, 2016 on July 18. 
 
The scrip opened at Rs. 634.9 and has touched a high and low of Rs. 635.25 and Rs. 611 respectively. So far 867124(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 10703.41 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 803.5 on 04-Mar-2016 and a 52 week low of Rs. 595 on 16-Jul-2015. Last one week high and low of the scrip stood at Rs. 669 and Rs. 634 respectively.

The promoters holding in the company stood at 13.72 % while Institutions and Non-Institutions held 48.09 % and 38.19 % respectively.

Reliance Industries reorganises its fuel retail business

RIL has merged its 361 'company owned-company operated' fuel retail pumps with its organised retail business.

Reliance Industries has reorganised its fuel retail business to hive off the fuel retail outlets owned by the company and merge them with its organised retail arm, according to reports.

Report says that this move comes to develop retail offerings at these petrol pumps. 

RIL has merged its 361 'company owned-company operated' fuel retail pumps with its organised retail business.

"It is no longer simply a petrol pump. Today, what you can do with fuel retail outlets by virtue of the synergies make it a more consumer facing business," said V Srikanth, joint chief financial officer at RIL. 

Reliance Industries Ltd is currently trading at Rs. 1021.1, up by Rs. 8.55 or 0.84% from its previous closing of Rs. 1012.55 on the BSE.

The scrip opened at Rs. 1027 and has touched a high and low of Rs. 1039 and Rs. 1020 respectively. So far 4639537(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 328340.91 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1089.5 on 15-Jan-2016 and a 52 week low of Rs. 819 on 24-Aug-2015. Last one week high and low of the scrip stood at Rs. 1020.65 and Rs. 985.5 respectively.

The promoters holding in the company stood at 45.15 % while Institutions and Non-Institutions held 32.38 % and 19.5 % respectively.

The stock is currently trading above its 200 DMA.

Monsanto surges 2%; to consider Bayer's revised proposal for acquisition

Board would review the revised nearly $65 bn takeover bid from German pharma and chemical giant Bayer AG.

Monsanto India Ltd rose 2% to Rs.2520 on BSE. Monsanto said that its board would review the revised nearly $65 bn takeover bid from German pharma and chemical giant Bayer AG, as per reports.

The company had raised its all-cash offer to Monsanto shareholders from $122 to $125 per share. 

The scrip opened at Rs. 2540 and has touched a high and low of Rs. 2557.15 and Rs. 2517.1 respectively. So far 28332(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 4282.37 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 3376.55 on 24-Jul-2015 and a 52 week low of Rs. 1520 on 11-Apr-2016. Last one week high and low of the scrip stood at Rs. 2573.3 and Rs. 2434.15 respectively.

The promoters holding in the company stood at 72.14 % while Institutions and Non-Institutions held 7.04 % and 20.82 % respectively.

The stock is currently trading above its 50 DMA.

Top 7 stocks in focus: HUL, RIL, HCL Tech

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

HUL: A meeting of the Board of Directors of the Company will be held on July 18, 2016 to take on record the unaudited financial results for the quarter ended June 30, 2016 (Q1) along with the limited review report of the auditors for the corresponding period.

Mindtree: The Company will consider the audited financial results of the Company for the quarter ended June 30, 2016 (Q1).

HCL Technologies: The company announced that a role of Chief Operating Officer has been established to accelerate growth in the core business. C Vijay Kumar, currently President, Infrastructure Services will take on this additional responsibility and continue to report to Anant Gupta, President & CEO.

Reliance Industries: Reliance Industries has reorganised its fuel retail business to hive off the fuel retail outlets owned by the company and merge them with its organised retail arm, according to reports.

Bharti Airtel: Bharti Airtel announced an effective reduction in pre-paid data tariffs byincreasing data benefits on some of its pre-paid data recharge packs.Airtel customerswill now enjoy more value on these existing packs and can add to their mobile internet experience by staying online longer and download more of their favorite content.

LT Foods Limited: The company has acquired iconic brand 817 Elephant brand of rice through its UK subsidiary LT Foods International Limited to further strengthen its existing presence in Canada, USA and Israel.

Jindal Poly Films Ltd: The company has commissioned 7th BOPP films production line of 41,000 TPA increasing the India BOPP capacity to 251,000 TPA at its Nasik (Maharashtra) Location. 

Rupee opens lower at 67.15/$, down 8 paise

India's exports in June were USD 22.5 billion compared with USD 22.2 billion in the year ago period while imports declined 7.33% to USD 30.6 billion from USD 33.1 billion in June 2015.

The Indian rupee opened lower by eight paise at 67.15/$ against US Dollar Monday as against the previous close of 67/.07$.

On the other hand,India's exports in June were USD 22.5 billion compared with USD 22.2 billion in the year ago period while imports declined 7.33% to USD 30.6 billion from USD 33.1 billion in June 2015. The India's wholesale price index (WPI) rose 1.62% YoY in the month of June as compared to 0.79% in May.

The Indian currency ended lower by 16 paise at 67.07/$. The local unit had hit a high of 66.94 and a low of 67.22. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 67.06 and for Euro stood at 74.60. The RBI’s reference rate for the Yen stood at 63.38; reference rate for the Great Britain Pound (GBP) stood at 89.9281.

Live Stock Market Updates - Sensex rallies over 100 points; Nifty reclaims 8550 mark

The BSE Mid-cap Index is trading up 0.38% at 12,171, whereas BSE Small-cap Index is trading up 0.51% at 12,040.

At 9:27 AM, the S&P BSE Sensex is trading at 27,968 up 132 points, while NSE Nifty is trading at 8,574 up 23 points.

The BSE Mid-cap Index is trading up 0.38% at 12,171, whereas BSE Small-cap Index is trading up  0.51% at 12,040.

The Indian rupee opened lower by eight paise at 67.15/$ against US Dollar Monday as against the previous close of 67/.07$.

Asian markets are trading mixed. Japan's Nikkei gained 0.68%, Hong Kong's Hang Seng was up 0.5% and Shanghai Composite are trading marginally lower. US stocks closed mixed on Friday.

Prime Minister Narendra Modi on Sunday sought the Opposition's cooperation in the passage of GST Bill. The Opposition is set to target the government over developments in Arunachal Pradesh and Kashmir during parliament's monsoon session starting today.

On the economy front, India's exports in June were USD 22.5 billion compared with USD 22.2 billion in the year ago period while imports declined 7.33% to USD 30.6 billion from USD 33.1 billion in June 2015.

Meanwhile, the trade deficit widened to USD 8.1 billion vis-a-vis USD 6.27 billion in May.

Results to watch out for include HUL, Mindtree and Exide Industries among others. India's foreign exchange reserves fell by $ 1.228 billion to $ 361.943 billion in the week ended July 8, the Reserve Bank of India said. India's India's reserve position in the International Monetary Fund (IMF) went down by $ 5.9 million to $ 2.389 billion, the bulletin added.

RIL up 2%; Q1 net profit at Rs. 71130 mn

The company posted a net profit after taxes, minority interest and share of profit of associates and Joint Ventures of Rs. 71130 million for the quarter ended June 30, 2016 as compared to Rs. 60240 million for the quarter ended June 30, 2015.

Reliance Industries Ltd stock was higher by 2% to Rs.1030.The company posted a net profit after taxes, minority interest and share of profit of associates and Joint Ventures of Rs. 71130 million for the quarter ended June 30, 2016 as compared to Rs. 60240 million for the quarter ended June 30, 2015. 

Total Income has decreased from Rs. 781990 mn for the quarter ended June 30, 2015 to Rs. 673680 mn for the quarter ended June 30, 2016.

The scrip opened at Rs. 1027 and has touched a high and low of Rs. 1038.15 and Rs. 1025.1 respectively. So far 1771666(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 328340.91 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1089.5 on 15-Jan-2016 and a 52 week low of Rs. 819 on 24-Aug-2015. Last one week high and low of the scrip stood at Rs. 1020.65 and Rs. 985.5 respectively.

The promoters holding in the company stood at 45.15 % while Institutions and Non-Institutions held 32.38 % and 19.5 % respectively.

The stock is currently trading above its 200 DMA.