Biocon surges on EU approval for Rosuvastatin Calcium

This first generic formulations approval in the regulated markets marks is an important milestone in Biocon’s small molecules strategy directed at forward integration from APIs to finished dosages.

Shares of Biocon Ltd are currently trading 1.06% higher at Rs. 462.50 on BSE after the company yesterday announced that it has received European approvals for its Rosuvastatin Calcium 5 mg, 10 mg, 20 mg and 40 mg tablets, a generic equivalent of Crestor tablets, indicated for hyperlipidemia or mixed dyslipidemia.

This first generic formulations approval in the regulated markets marks an important milestone in Biocon’s small molecules strategy of forward integration from APIs to finished dosages.

Cairn India, ONGC clock gains on rise in crude oil prices

International crude oil prices jumped amid speculation that some of the world’s biggest crude producers will cooperate toward reducing output.

Cairn India Ltd is up 3% to Rs.128.05; Oil and Natural Gas Corp rose 2% to Rs.204 after international crude oil prices jumped amid speculation that some of the world’s biggest crude producers will cooperate to reduce output.

Cairn India Ltd is currently trading at Rs. 127.3, up by Rs. 2.45 or 1.96% from its previous closing of Rs. 124.85 on the BSE.

The scrip opened at Rs. 129.25 and has touched a high and low of Rs. 129.7 and Rs. 126.05 respectively. So far 1830367(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 23407.66 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 262.5 on 16-Feb-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. 127.1 and Rs. 111.2 respectively.

The promoters holding in the company stood at 59.88 % while Institutions and Non-Institutions held 26.15 % and 13.97 % respectively.

The stock is currently trading below its 200 DMA.

Oil & Natural Gas Corpn Ltd is currently trading at Rs. 204.3, up by Rs. 4.4 or 2.2% from its previous closing of Rs. 199.9 on the BSE.

The scrip opened at Rs. 205.9 and has touched a high and low of Rs. 206.1 and Rs. 203 respectively. So far 1365874(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 171024.25 crore.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 344.9 on 16-Feb-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. 219.5 and Rs. 188 respectively.

The promoters holding in the company stood at 68.93 % while Institutions and Non-Institutions held 17.49 % and 13.57 % respectively.

The stock is currently trading above its 200 DMA.

HDFC Bank ties up with Tone Tag and other top Banking news of the day

Round up of the major headlines that dominated the Banking sector, nationally and internationally.

The Reserve Bank of India (RBI) and the government don’t favour undervaluation of the exchange rate as a means to spur economic growth, RBI Governor Raghuraman Rajan said. “There are those who argue that in countries such as China, Japan, and Korea business enterprises grew via an undervalued exchange rate,” Dr. Rajan said at the India MSME Summit-2016 organised by the Confederation of Indian Industry(CII) on Monday.

RBI today imposed a penalty of Rs 2 lakh on the Kapadwanj People's Co-operative Bank for violation of norms, including those on advances and KYC. 

HDFC Bank customers will soon be able to pay at credit card swipe machines using sound from their handsets. The private bank has become the first to sign up with Bengaluru-based startup Tone Tag to provide a phone-based proximity payment service that requires neither special handsets nor any new acceptance device. 

As public sector banks’ (PSBs) non-performiing and restructured assets have constrained their profitability and market capitalisation, the Comptroller and Auditor General (CAG) of India is set to scrutinise these banks’ books for the first time to analyse how the capital provided by the Centre in the past five years was utilised by them. 

Country's fifth-largest private lender Yes Bank today signed an agreement with the Indian Renewable Energy Development Agency (IREDA) to foster renewable energy (RE) development in India. 

Prime Minister Narendra Modi met senior finance ministry officials last week to take stock of rising bad loans at state-run banks.

Jain Irrigation Systems marginally up despite a mega turnaround in Q3 results YOY

The company reported consolidated net profit of Rs 9.21 crore for the quarter ended on December 31, against a loss of Rs 39.68 crore in the year ago period.

Jain Irrigation Systems is currently trading at Rs. 53.65, up by Rs. 0.15 or 0.28% from its previous closing of Rs. 53.5 on the BSE. The company reported consolidated net profit of Rs 9.21 crore for the quarter ended on December 31, against a loss of Rs 39.68 crore in the year ago period.

The scrip opened at Rs. 54.5 and has touched a high and low of Rs. 54.85 and Rs. 52.75 respectively. So far 704772(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 2445.55 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 79 on 23-Jul-2015 and a 52 week low of Rs. 50.4 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 61.45 and Rs. 50.4 respectively.

The promoters holding in the company stood at 28.7 % while Institutions and Non-Institutions held 50.23 % and 20.91 % respectively.

The stock is currently trading above its 200 DMA.

Pipavav Defence zooms 9%

Report says that new defence procurement policy or DPP that will give priority to indigenously made defence products and boost the Make in India initiative will be ready by April, Union defence minister Manohar Parrikar said.

Pipavav Defence and Offshore Engineering Ltd stock was higher by 9% at Rs. 67.  Report says that new defence procurement policy that will give priority to indigenously made defence products and boost the Make in India initiative will be ready by April, Union defence minister Manohar Parrikar said.

The defence ministry has already finalized the draft DPP and it has been approved by the Defence Acquisition Council (DAC).

The scrip opened at Rs. 64 and has touched a high and low of Rs. 68.6 and Rs. 64 respectively. So far 1326758(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 4571.86 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 114 on 28-Dec-2015 and a 52 week low of Rs. 51.45 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 67.45 and Rs. 52.65 respectively.

The promoters holding in the company stood at 37.48 % while Institutions and Non-Institutions held 56.35 % and 6.17 % respectively.

The stock is currently trading above its 50 DMA.

Vedanta dips 4%;signs pact with Odisha govt

The aluminium park will be set up adjacent to the company’s 1.6 million tonnes per annum aluminium smelter at Jhasarguda, Odisha.

Shares of billionaire Anil Agarwal-led Vedanta Ltd is currently trading 3.54% lower at Rs. 72.20 on BSE after it was reported that the company has signed an agreement with Odisha government to set up an aluminium park in the state.

The aluminium park will be set up adjacent to the company’s 1.6 million tonnes per annum aluminium smelter at Jhasarguda, Odisha.

RBI finds irregularities! Bank of Baroda down 3% after Monday's spectacular show

The scrip opened at Rs. 141.25 and has touched a high and low of Rs. 141.25 and Rs. 133.8 respectively

A day after surging over 22%, Bank of Baroda is trading lower by 3% at Rs. 134. Report says that RBI found irregularities in Bank of Baroda forex transactions.

The scrip opened at Rs. 141.25 and has touched a high and low of Rs. 141.25 and Rs. 133.8 respectively. So far 6412802(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 32154.55 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 216.25 on 18-Aug-2015 and a 52 week low of Rs. 109.45 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 142 and Rs. 109.45 respectively.

The promoters holding in the company stood at 59.24 % while Institutions and Non-Institutions held 33.71 % and 7.06 % respectively.

The stock is currently trading above its 200 DMA.

BHEL trades flat; commissions a gas-based combined cycle power plant in Tripura

The company commissioned a 101-MW gas-based combined cycle power plant on engineering, procurement, and construction (EPC) basis in Tripura.

Bharat Heavy Electricals is currently trading at Rs. 108.35, up by Rs. 0.4 or 0.37% from its previous closing of Rs. 107.95 on the BSE. The company commissioned a 101-MW gas-based combined cycle power plant on engineering, procurement, and construction (EPC) basis in Tripura.

The scrip opened at Rs. 109.95 and has touched a high and low of Rs. 110.5 and Rs. 106.75 respectively. So far 1280296(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 26421.84 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 289.85 on 21-Jul-2015 and a 52 week low of Rs. 102.15 on 15-Feb-2016. Last one week high and low of the scrip stood at Rs. 133.5 and Rs. 102.15 respectively.

The promoters holding in the company stood at 63.06 % while Institutions and Non-Institutions held 33.08 % and 3.86 % respectively.

The stock is currently trading above its 200 DMA.

Rupee opens lower by 7 paise

India’s exports contracted during January, marking the 14th consecutive monthly decline. Exports fell 13.6% yoy, owing to weak overseas demand.

Indian Rupee opened lower by 7 paise at 68.13/$ in early trade on Tuesday as against the previous close of 68.13/$. India’s exports contracted during January, which was the 14th consecutive monthly decline. Exports fell 13.6% yoy, owing to weak overseas demand. Wholesale prices fell 0.9% during January, registering the contraction for the 15th consecutive month.

In China, the central bank authorities stated that they are committed to stabilize Yuan and will not intentionally devalue in order to gain a trade advantage for the country’s exports.

In Europe, ECB president Mario Draghi stated that the central bank is ready to ease policy next month if financial market turmoil or low energy prices continue to generate deflationary pressures. As a result, Euro lost ground against the greenback, with values tumbling to 1.116 at one point of time.

On Monday, the rupee ended at 68.06/$, 17 paise higher. The currency touched a high and low of 68.25 and 68.32 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 68.13 and for Euro stood at 76.50 on February 15, 2016. While the RBI’s reference rate for the Yen stood at 59.84, the reference rate for the Great Britain Pound (GBP) stood at 99.0067.

Chicago Auto Show: Chevrolet unveils Trax and Camaro 1LE

The vehicle has an updated technology with a seven-inch infotainment screen to keep drivers connected via Apple CarPlay and Android Auto, along with a number of safety upgrades including safety sensors.

Chevrolet introduced the all-new Trax compact crossover and the Camaro 1LE performance package during the 2016 Chicago Auto Show Media Preview.

The newly re-designed Trax features contemporary design elements including an all-new front-end appearance and a new premium interior. The vehicle has updated technology with a seven-inch infotainment screen to keep drivers connected via Apple CarPlay and Android Auto, along with a number of safety upgrades including safety sensors. The SUV also offers keyless access with a push-button starter, which wasn't available last year.

"Right here in Chicago, we are the No. 1 retail brand - not one year running, but five years in a row," said Brian Sweeney, U.S. vice president of Chevrolet. "Our Chicago dealers have had leadership roles, and it is fueled by the great cars, trucks and crossovers you see here."

Chevrolet also introduced to track-enthusiasts the Camaro 1LE performance package for both the V6 and V8 models. The package builds off the success of the previous-generation 1LE, offering increased handling and track performance. In response to customer demand, Chevrolet will offer two distinct 1LE packages, for both V6 and V8 models, each visually distinguished with a satin black hood, specific wheels and more cooling.

The 2017 Trax is expected to go on sale this fall. The new 1LE packages will be available in late 2016 on 2017 Camaro SS and LT V-6 coupes, equipped with manual transmissions. Pricing and performance data will be announced at a later date. 

Chevrolet also expanded its popular Midnight Edition to include all three of its pickups: the midsize Colorado, the half-ton Silverado 1500 and the Silverado 2500 Heavy Duty. All three can be seen for the first time at the 2016 Chicago Auto Show. More details to come soon from Chevrolet.