NHPC expects to commission 610 MW hydro projects this fiscal

"We are hopeful of commissioning two units of 40 MW each of the 160 MW Teesta Low Dam Project Stage IV in West Bengal and 330 MW Kishanganga projects," NHPC Chairman and Managing Director KM Singh reportedly said.

National Hydroelectric Power Corporation IS PLANNING to commission nearly 610 MW hydro projects this fiscal, according to reports,

"We are hopeful of commissioning two units of 40 MW each of the 160 MW Teesta Low Dam Project Stage IV in West Bengal and 330 MW Kishanganga projects," NHPC Chairman and Managing Director KM Singh reportedly said.

The company reported that it also expects commissioning one unit of 200 MW of the 800 MW Parbati II in Himachal Pradesh. 

NHPC Ltd ended at Rs. 24.65, up by Rs. 0.1 or 0.41% from its previous closing of Rs. 24.55 on the BSE.

The scrip opened at Rs. 24.55 and touched a high and low of Rs. 24.9 and Rs. 24.3 respectively. A total of 12504240(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 27289.2 crore.

The BSE group 'A' stock of face value Rs. 10 touched a 52 week high of Rs. 24.9 on 03-Jun-2016 and a 52 week low of Rs. 15.55 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 24.9 and Rs. 22.1 respectively.

The promoters holding in the company stood at 85.96 % while Institutions and Non-Institutions held 6.99 % and 7.05 % respectively.

The stock traded above its 50 DMA.

Gujarat Industries commissioning of 51 MW wind-based power project delayed

The company has been intimating to the exchanges, about the progress of the said project from time to time, and as intimated by the company vide its letter dated March 19, 2016, 8 Wind Energy Generators (WEGs), out of total 34 WEGs, have been commissioned so far.

Gujarat Industries Power Company Ltd has informed BSE that on account of financial difficulties faced by Leitwind Shriram Manufacturing Ltd., Chennai, the EPC Contractor, the date of commissioning of the 51 MW Wind based Power Project in Gujarat, has been delayed.
 
The company has been intimating to the exchanges, about the progress of the said project from time to time, and as intimated by the company vide its letter dated March 19, 2016, 8 Wind Energy Generators (WEGs), out of total 34 WEGs, have been commissioned so far.

Sun Pharma clocks1% gains on the bourses; to divest 2 manufacturing units

The pharma company has agreed to divest two oral solid dosage manufacturing facilities to Frontida BioPharma.

Sun Pharma gained 1% to Rs.746 after the pharma company announced that as a part of its manufacturing consolidation in the US, one of its wholly owned subsidiaries has entered into an agreement with Frontida BioPharma. 

The scrip opened at Rs. 750 and has touched a high and low of Rs. 750.25 and Rs. 740.4 respectively. So far 323535(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 177678.61 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. 842.05 and Rs. 735.3 respectively.

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

Vakrangee announces corporate agency tie up with CIGNA TTK Health Insurance

Citizens, especially in un-served and underserved areas shall be able to access health Insurance products and services offered/to be offered by Cigna TTK Health Insurance Company Ltd.

Vakrangee announce Corporate Agency tie up with CIGNA TTK Health Insurance Company Limited (CIGNA TTK) issued by Insurance Regulatory Development Authority of India (IRDAI) to distribute Health Insurance product through Vakrangee distribution network. Citizens, especially in un-served and underserved areas shall be able to access health Insurance products and services offered/to be offered by Cigna TTK Health Insurance Company Ltd.

Cigna TTK is a joint venture between the U.S. based global health services leader, Cigna Corporation and Indian conglomerate, TTK Group. Company received the regulatory license from IRDA in November 2013 and launched its operations in February 2014.

Cigna TTK health Insurance is a stand-alone health insurance company, headquartered in Mumbai having a pan India presence spread across 40 cities of the country.

Cigna Corporation, a fortune 500 company is the first US Health Insurance player to set foot in the country. Cigna’s partnership with the TTK Group is to bring in innovative suite of health insurance products along with an enhanced customer service experience to the Indian market.

ProHealth is a flagship health insurance product from Cigna TTK. In addition it has launched Critical Care and Accident Care as part of its Lifestyle Protection Product Suite, for individual and family.

Asian markets drop after jobs data; Nikkei 225 down 1.2%

Japanese shares slipped after the yen strengthened. Japan's Nikkei 225 was down 1.2%, while China's Shanghai Composite is in the red.

Asian markets are trading on a mixed note after U.S. non-farm payrolls showed the slowest job growth in more than five years, quashing expectations for a near-term U.S. interest rate hike.

Japanese shares slipped after the yen strengthened. Japan's Nikkei 225 was down 1.2%, while China's Shanghai Composite is in the red.  South Korea’s Kospi index ​is ​at 1,985.84 points (up 0.04%) and Indonesia’s Jakarta Composite ​is ​at 4,880.91 points (up 0.55%).

Taiwan’s Taiex at 8,577.87 points (down 0.16%), Singapore’s Straits Times at 2,824.82 points (up 0.55%), Hong Kong’s Hang Seng at 20,908.04 points (down 0.19%), Thailand’s SET Composite at 1,444.69 points (up 0.57%) and Singapore Nifty at 8,246.50 points (up 0.12%).

U.S. stocks retreated on Friday after economic data indicated that the U.S. economy may not be as robust as thought, dampening expectations of a Federal Reserve interest-rate hike in June. The S&P 500 fell 6 points, or 0.3%, to close at 2,099 to finish the week flat, while Dow Jones  dropped 31 points, or 0.2%, to end at 17,807. The Nasdaq Comp shed 29 points, or 0.6%, to close at 4,942.

Rupee appreciates 30 paise to 66.95 against US Dollar

The local unit had hit a high of 67.09 and a low of 67.28. On the economy front, Raghuram Rajan may maintain status quo in the bi-monthly monetary policy review on Tuesday.

The Indian rupee opened higher by 30 paise at 66.95/$ against US Dollar on Monday as against the previous close of 67.25/$. US dollar index has tumbled below 94 levels, with gains amplifying categorically in Japanese Yen. Euro also garnered momentum against greenback.The US Federal Reserve officials meet on 14-15 June to discuss their policy.

On the economy front, Raghuram Rajan may maintain status quo in the bi-monthly monetary policy review on Tuesday.

The Indian currency ended higher by 4 paise at 67.25/$. The local unit had hit a high of 67.09 and a low of 67.28. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 67.24 and for Euro stood at 74.99. The RBI’s reference rate for the Yen stood at 61.83; reference rate for the Great Britain Pound (GBP) stood at 96.9017.

Top 16 stocks in focus: Sun Pharma, HDFC, Excel Crop

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

Sun Pharmaceutical Industries Ltd:  Sun Pharma announced that as a part of its manufacturing consolidation in the US, one of its wholly owned subsidiaries has entered into an agreement with Frontida BioPharma.

Excel Crop: Sumitomo has acquired 44.98% stake in Excel Crop Care for around Rs. 623.44 crore, says report.The company also announced launch of Rs.415.80 crore open offer to acquire further 30 per cent stake in the company.

Gammon India Ltd:  The company said its board has approved amendment to an agreement signed with its arm  Gammon Retail Infrastructure for transfer of EPC business.

Zydus Cadila: Zydus Cadila has received approval from the US health regulator to initiate a phase II clinical trial of Saroglitazar in patients with non-alcoholic steatohepatitis (NASH) of the liver.

Yes Bank: Yes Bank is planning to raise USD 1 billion from overseas investors in the current fiscal as it has recently got government approval for increasing foreign investment to 74 per cent, says report.

Biocon: Mylan and Biocon Ltd announced the presentation of data from the HERITAGE study at the 2016 American Society of Clinical Oncology (ASCO) Annual Meeting in Chicago, June 3-7. The study confirmed the efficacy, safety and immunogenicity of MYL-1401O, the proposed biosimilar trastuzumab co-developed by Biocon and Mylan, in comparison to branded trastuzumab.

Adani Enterprise Ltd: Adani Enterprise may walk away from its proposal to build one of the world's biggest coal mines in Australia, says report.

Lupin: Lupin is planning to launch up to 30 drugs in the US market in the current fiscal, says report.

Indiabulls Real Estate: The company has announced that Tapir Realty Developers Ltd, a 100% subsidiary of the company, has entered into a joint development agreement with Oricon Properties.

Natco Pharma: The company received US Food and Drug Administration (USFDA) approval for Abbreviated New Drug Application (ANDA) for a cancer drug.

Force Motors: Force Motors has announced its sales performance for the month of May 2016. The company sold 1,588 SCV, LCVs & 923 UV, SUV Tractors in May 2016.

Gujarat Industries Power Company Ltd: The company has informed BSE that on account of financial difficulties faced by Leitwind Shriram Manufacturing Ltd., Chennai, the EPC Contractor, the date of commissioning of the 51 MW Wind based Power Project in Gujarat has been delayed.

Kwality: KKR India is set to invest about Rs.600 crore in Kwality Ltd, as per media report. KKR India will invest through a structured debt transaction.

Jubilant Life Sciences Ltd: The company has received ANDA final approval for Levetiracetam Injection USP, 500 mg/5 mL (100 mg/mL), the generic version of Keppra Injection 500mg/5mL (100mg/mL) of UCB, which is used for the treatment of epilepsy.

Oriental Bank of Commerce: The bank is planning for a credit growth of 12% in the current fiscal with focus on retail and SME lending.

Vakrangee: Vakrangee announce Corporate Agency tie up with CIGNA TTK Health Insurance Company  issued by Insurance Regulatory Development Authority of India  to distribute Health Insurance product through Vakrangee distribution network.

RIL up; Reliance Jio begins sale of 4G-enabled Lyf phones

Reliance Jio has begun selling its Lyf smartphones with SIM cards enabled for the high-speed service in India's bigger cities.

RIL Ltd stock was up by 1% at Rs. 961.Reliance Jio has begun selling its Lyf smartphones with SIM cards enabled for the high-speed service in India's bigger cities, says media reports.

The SIM cards come with three months of free unlimited data and 4,500 minutes of voice calls.

The scrip opened at Rs. 957.5 and has touched a high and low of Rs. 963.6 and Rs. 957.5 respectively. So far 313431(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 309977.81 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. 981.45 and Rs. 945.25 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 below its 50 DMA.

BSE companies’ market cap crosses Rs.100 trillion after six months

The current market cap of all BSE listed companies stands at Rs.1,00,29,073 crore. Earlier, the same was seen above this level at Rs.1,00,93,395 crore on January 1, 2016.

Amidst increasing volatility in the Indian stock markets due to weak global economic cues, gyrating prices of certain commodities and weakening rupee against the US dollar, the investors have been on a bumpy ride in 2016 so far.

In the wake of shrinking profitability of India Inc., and rising NPAs of banks, some respite is seen for the market as the total market capitalization of BSE listed firms has crossed Rs.100 lakh crore-mark today, in the early trades.

The current market cap of all BSE listed companies stands at Rs.1,00,29,073 crore. Earlier, the same was seen above this level at Rs.1,00,93,395 crore on January 1, 2016.

In CY 2016, the Sensex has risen 3.24% so far. The index has tumbled to a low of 22,495 on the day when the NDA government had announced the Union Budget for FY17. However, since then, the market barometer has sharply surged nearly 17%.

ONGC plans to invest Rs. 4,000 crore

The company has sold a 25% stake in its North Karanpura CBM block to Prabha Energy Pvt. Ltd (PEPL), a unit of Deep Industries Ltd, says report.

Oil and Natural Gas Corp. Ltd is planning to invest Rs.4,000 crore to develop its four coal bed methane (CBM) gas blocks, according to reports.

Report says that the two of the four blocks—in North Karanpura and Bokaro, in Jharkhand—would start production by the second half of 2017-18.

The company has sold a 25% stake in its North Karanpura CBM block to Prabha Energy Pvt. Ltd (PEPL), a unit of Deep Industries Ltd, says report.

ONGC was allocated nine CBM blocks, of which it holds four, located in Jharia, Bokaro, North Karanpura and Raniganj in West Bengal.