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Wednesday, 31 January 2018

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Capitalstars Updates: Top Corporate News:- 31 Jan 2018


Capitalstars Updates:  Top Corporate News

Top Headlines Of The Day:- 31 Jan 2018

Amber Enterprises up 4% as Kotak fund buys share in company
Workers at Bajaj Auto plants go on indefinite hunger strike, stock opens weak
BEL approves buy-back of 2.04cr equity shares at Rs182.50 per share
NTPC establishes $6bn MTN Programme on India’s International Exchange
SBI hikes bulk deposit rates by 50-140 basis points

Amber Enterprises up 4% as Kotak fund buys share in company
Shares of Amber Enterprises India rose nearly 4% today after Kotak Fund-India Midcap bought 253,290 shares of the company at Rs1, 149.15 in a bulk deal on the NSE.
Shares of Amber Enterprises got listed on Tuesday at a premium of 37% to their issue price of Rs859.
Amber Enterprises India Ltd is currently trading at Rs 1285, up by Rs 47.75 or 3.86% from its previous closing of Rs 1237.25 on the BSE.
The scrip opened at Rs1, 232.5 and has touched a high and low of Rs1, 298.3 and Rs1, 230, respectively. The current market cap of the company is Rs3, 890.72cr.

Workers at Bajaj Auto plants go on indefinite hunger strike, stock opens weak
Workers at Bajaj Auto Limited’s (BJAUT) plants in Akurdi and Chakan have gone on an indefinite hunger strike from January 29, 2018. The workers’ Union involved in this strike is Vishwa Kalyan Kamgar Sanghatana. BJAUT reported this to stock exchanges on January 30, 2018.
The three reason for workers going on hunger strike are i) pending issue of eight workmen dismissed from services for various acts of misconduct in 2013-14, ii) dismissal of six workmen who did not report to place of transfer/deputation despite court orders and iii) delay in conclusion of wage review process due with effect from April 1, 2016. The matter is pending before the Industrial Court, Pune and High Court of Bombay.

BEL approves buy-back of 2.04cr equity shares at Rs182.50 per share
The board of directors of Bharat Electronics Ltd (BEL), in their meeting held on January 30, 2018, approved the proposal to buy-back the equity shares of the company. The buy-back would be of ~2.04cr equity shares (representing 0.83% of total equity shares) at a price of Rs182.50 per share (~7% premium to the last closing price) payable in cash.
The buy-back size amounts to Rs372.26cr, representing 5% of the aggregate of the fully paid-up equity share capital and free reserves of the company. 
The promoter of the company also intends to participate in the proposed buyback. The buyback is subject to approval from the shareholders and all other applicable statutes. The board has fixed February 9, 2018, as the record date for the buy-back.

NTPC establishes $6bn MTN Programme on India’s International Exchange
India’s largest power producer NTPC has listed its $6bn (about Rs40, 000cr) MTN programme (debt instrument) on India International Exchange at IFSC, GIFT City (India INX). While doing so, NTPC became India’s first quasi-sovereign company to list at India INX.
The Listing was done on January 24, 2018, on the Global Securities Market of India INX; India’s first international exchange.
The listing will help NTPC raise funds at lower costs from international investors and also allow foreign investors to access good quality Indian debt paper.

SBI hikes bulk deposit rates by 50-140 basis points
SBI announced that the leading banker is going to increase bulk deposit rates by 50-140 bps effective today. Following this announcement, shares of SBI reached a high of Rs318.8 in the morning trade, gaining ~2%. However, the stock was unable to hold on to the gains as the day progressed.
The stock ended at Rs312.85, up by Rs1.75 or 0.56% from its previous closing of Rs311.1 on the BSE. The scrip opened at Rs311.05 and has touched a high and low of Rs318.75 and Rs310.8 respectively.
The bank’s FY17 consolidated loan book stood at Rs.19.5 lakh cr. Its consolidated GNPA & NNPA stood at 9.1% & 5.2% as of FY17.

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
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Tuesday, 30 January 2018

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Capitalstars Updates: Top Corporate News :- 30 Jan 2018

Capitalstars Updates:  Top Corporate News

Top Headlines Of The Day:- 30 Jan 2018

Jubilant receives ANDA approval for Clonidine Hydrochloride ER Tablets
KPIT and Birlasoft to come together to create two entities
Mylan and Biocon receive positive CHMP opinion for Insulin Glargine
Amber Enterprises lists at 38% premium to issue price
HCL Tech gets 5-year order from Cadent for IT Infra services

Jubilant receives ANDA approval for Clonidine Hydrochloride ER Tablets
Jubilant Life Sciences has announced that its material wholly owned subsidiary Jubilant Pharma Limited has received Abbreviated New Drug Application (ANDA) final approval for Clonidine Hydrochloride Extended-Release Tablets, 0.1 mg. This is a generic version of Kapvay of Concordia. It is used for the treatment of attention deficit hyperactivity disorder (ADHD).
As on December 31, 2017, Jubilant had a total of 86 ANDAs for Oral Solids filed in the US of which 56 had been approved and 12 Injectable filings of which 10 had been approved. This is the eighth USFDA approval in FY18.

Clonidine Hydrochloride Extended-Release Tablets, 0.1 mg had annual sales of ~USD 66 million in the US as per IMS MAT Jun 2017. 

KPIT and Birlasoft to come together to create two entities
KPIT Technologies had informed the exchanges that its board had approved a draft composite scheme for amalgamation of Birlasoft (India) with KPIT. The second leg of the transaction would involve demerger of the engineering business of the company into KPIT Engineering Limited (KEL), a wholly owned subsidiary of the company and will be renamed as KPIT Technologies Limited.
According to the arrangement, shareholders of Birlasoft will receive 22 equity shares of the combined KPIT -Birlasoft for every nine equity shares of Birlasoft. the combined KPIT-Birlasoft will be engaged in the ITSS Business, and pursuant to the Proposed Demerger, KEL's shares will be listed and shareholders of combined KPIT-Birlasoft will receive one share of KEL for each share they hold in the combined KPIT-Birlasoft.

Mylan and Biocon receive positive CHMP opinion for Insulin Glargine
Biocon has announced that it, along with its partner Mylan, has received a positive opinion from Europen Medical Agency’s (EMA) - Committee for Medicinal Products for Human Use (CHMP) - for insulin Glargine. CHMP has also recommended approval to Insulin Glargine, which will be sold under brand Semglee.
There are ~60m people affected by diabetes in Europe with an increasing prevalence in the region. Insulin Glargine is a biosimilar, which will be available for commercialization once it receives EMA approval.
Biocon and Mylan are also awaiting approval for Insulin Glargine in Australia, Canada, and the US and are planned for key Emerging Markets.

Amber Enterprises lists at 38% premium to issue price
Amber Enterprises listed at a significant premium of 38% to its issue price of Rs855-859 and is currently trading at Rs1, 187.2.
The IPO offer consisted of Fresh Issue of 55.3 lakh shares (aggregating up to ~Rs475cr) at the upper end of the price band. It also includes an offer for sale of up to 14.6 lakh shares (Rs125cr) by the promoters. The issue proceeds will be used for pre-payment or repayment of borrowings (~Rs400cr) and for other general corporate purposes (~Rs75cr).

HCL Tech gets 5-year order from Cadent for IT Infra services
HCL Technologies (HCL) announced a five-year IT infrastructure services and application management contract with Cadent, the UK’s largest gas distribution network. The ground-breaking ‘cloud first’ multi-service deal will see HCL provide integrated public cloud hosting and SAP and Application Maintenance Services, including the migration of a significant applications portfolio to Amazon Web Services (AWS) public cloud. In addition, HCL will provide IT Service Management, Service Desk and Managed Workplace Services.
HCL will deliver these services to support Cadent’s business operations which distributes gas to 11 million homes and businesses in the North West, Midlands, East and South East of England. HCL will provide MWS support to approximately 4,500 staff; including 3,500 field based-engineers who work across the company’s 65 regional depots.

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647





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CapitalStars Success Story On CNBC Awaaz Kamyabi Ki Raah: 30 Jan 2018


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Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647


Monday, 29 January 2018

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Capitalstars Updates: Top Corporate News :- 29 Jan 2018

Capitalstars Updates:  Top Corporate News
Top Headlines Of The Day :- 29 Jan 2018
Avenue Supermarts Ltd (DMart), up 5% after announcing Q3FY18 results, PAT up 65.8% yoy
Cipla, Aurobindo and Strides Shasun receive final approval for gViread
Havells to set up a manufacturing unit in Rajasthan for an investment of Rs360cr
DLF is looking to launch QIP of shares by April, 2018
Idea Cellular seeks government approval for raising FDI limit to 100%
Avenue Supermarts Ltd (DMart), up 5% after announcing Q3FY18 results, PAT up 65.8% yoy
DMart rallies 5% after announcing Q3FY18 results. In Q3FY18, its revenue grew by 22.6% yoy to Rs4, 095cr. EBITDA came in at Rs422cr, up 46.3% yoy . EBITDA margin expanded by 167bps yoy to 12.3% due to an improvement in sales mix and efficiency of centralized procurement. Adjusted PAT increased by 65.8% yoy to Rs252cr.
Board has also approved acquisition of 50.8% paid-up share capital of Avenue E-Commerce Limited for Rs49.2cr. Post-acquisition it will become wholly owned subsidiary. Heavy discounts to attract price sensitive customers and losses of the e-commerce entity will offset the margin gains.


Cipla, Aurobindo and Strides Shasun receive final approval for gViread
Cipla, Aurobindo and Strides Shasun have received final approval for their Abbreviated New Drug Application (ANDA) for Tenofovir Disoproxil Fumarate Tablets, 300mg, from the USFDA. This is a generic version of Gilead Sciences' Viread Tablets, 300mg which is indicated in combination with other antiretroviral (ARV) agents for the treatment of HIV-1 infection in adults. The final approval means that product is available for immediate commercialization in the US.
Viread 300mg tablets had annual US sales of approximately $725-750mn as per IMS Health. An orange book search on USFDA website indicates that Aurobindo, Cipla, Teva, Macleods Pharmaceuticals and Strides Shasun, all have received approval for this drug on January 26, 2018. Approval for five different filers on the same day is likely to see competition for the Viread 300mg tablets.


Havells to set up a manufacturing unit in Rajasthan for an investment of Rs360cr
Havells is setting-up a new facility at Ghiloth, Neemrana, Rajasthan to manufacture consumer durables, as per the BSE filing. The total estimated cost for the project is Rs360cr (ex-land cost, as the company already owns the land), spread over a period of 3 years. The total investment will be funded through a mix of internal accruals and borrowings. Company expects to start the production from Q3FY19E.
For this investment, the company will be entitled to investment subsidy under the M-SIPS (Modified Special Incentive Package Scheme) introduced by MEITY and also for various tax/ levies and other benefits from the State Government of Rajasthan.


DLF is looking to launch QIP of shares by April, 2018
DLF is looking to launch its qualified institutional placement (QIP) of shares by April 2018, according to a media report.
DLF has already received approval from shareholders to sell 173-million equity shares, which will be determined by the formula laid down by the market regulator Securities and Exchange Board of India. The company may raise Rs4500-5000cr from the QIP.


Idea Cellular seeks government approval for raising FDI limit to 100%
Telecom operator Idea Cellular has made an application to the DIPP (Department of Industrial Policy and Promotion) for raising the FDI limit in Idea to 100%. Foreign investors holdings in Idea Cellular stood at ~27% stake as on December 2017. While 100% FDI is allowed in telecom companies, investments under the automatic route are allowed up to 49%.
At present, Idea Cellular is in the process of merging its telecom business with the Indian unit of Vodafone. As per latest industry data from Trai, Idea and Vodafone jointly have 40.5cr mobile subscribers. This would potentially give the joint entity the largest subscriber base in the Indian telecom segment. Vodafone is expected to hold around 47.5% stake in the merged entity and rest will be owned by Idea and its promoter Aditya Birla Group.


Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647




Saturday, 27 January 2018

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Birla MF Co-CIO Patil sees low teens 2018 growth for Nifty, likes auto, consumer durables, telecom:- 27 Jan 2018

Considering the government’s long-term vision, and the trend set through earlier budgets, the focus of the upcoming Union Budget is likely to remain largely on infrastructure and the rural economy, believes Mahesh Patil, Co-Chief Investment Officer-equities at Aditya Birla Sun Life Mutual Fund.

In an exclusive interview to Moneycontrol, Patil said that investors should not expect a repeat of 2017 in terms of returns, since the Nifty returned as much as 29 percent in the year. It is unlikely to happen again in 2018

We saw a good run up in 2017. How do you see markets panning out in 2018?

2018, as we step forward into this new calendar year, things are looking much better. A lot of things have fallen into place. Last year, we went through ups and downs. The economy took kind of a beating, but the gains of all the reforms would start to unfold and we are expecting a pretty good recovery back in corporate earnings.

Global outlook continues to remain fairly stronger than it was after the global financial crisis. So, all these tailwinds should continue to favour the markets. Since we did very well last year, the return expectations would probably have to be moderated down now because we are starting from a higher valuation level and to that extent, the market returns this calendar year would probably be muted compared to last year. But still, our view is that returns should be fairly good for investors to look positively at equities compared to any other asset class.

According to your presentation GDP, growth will be more than 7 percent in FY19. Is that achievable?

Yes, it is fairly achievable because the growth was pulled down because of reforms. We are seeing some recovery in capital expenditure, at least private sector capex will slowly start to pick up, though not in a big way. But at least the lower end will and rural consumption is moving up. Global growth is also fairly strong. So, even the net exports should be fairly good. So 7 percent GDP growth, considering all these factors, should quite be possible.

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647


Thursday, 25 January 2018

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Capitalstars Updates: Top Corporate News :- 25 Jan 2018



Top Headlines Of The Day:- 25 Jan 2018

Capitalstars Updates:  Top Corporate News

Dr. Reddy's slumps 3% on unimpressive Oct-Dec earnings
Biocon slumps as Oct-Dec consol PAT below estimate
NCC’s Board to meet on January 30 to approve QIP issue price
Glenmark reports encouraging clinical trial data on GBR 1302
Dr. Reddy’s Bachupally plant completes successful re-inspection by German regulator


Dr. Reddy's slumps 3% on unimpressive Oct-Dec earnings
Shares of Dr. Reddy's Laboratories slumped nearly 3% as investors were unimpressed by the company's earnings for the December quarter.
The drug maker reported a consolidated net profit of Rs290cr, sharply below analysts' estimate of Rs350cr. Continued rise in pricing pressure and lack of new product launches in the US during the quarter weighed on the company's operating margin, which contracted 250bps on year to 21.2%.

Biocon slumps as Oct-Dec consol PAT below estimate
Shares of Biocon slumped over 4% after the company reported a 46.4% on-year fall in consolidated net profit for the December quarter at Rs91.9cr, below analysts' estimate.
Revenue from operations for the quarter was at Rs1058cr, against Rs1044cr a year ago. Sales in Oct-Dec were in line with estimates.

NCC’s Board to meet on January 30 to approve QIP issue price
NCC stock is up 3.3% on the back of news that the Board of Directors of NCC will meet on January 30, 2018, to consider and approve the issue price, including a discount for the equity shares to be allotted to the qualified institutional buyers in the issue.
NCC Ltd is one of the largest Indian construction companies in terms of revenue. The company’s order book was worth Rs28,109cr as of October 2017. The revenues of the company were impacted by GST implementation. We expect the company to report revenue CAGR of 3% over FY17-19E. We estimate the company’s margin to rise by 70bps on the back of cost optimization and timely execution of projects. We expect the company to report PAT CAGR of 3% over FY17-19E.

Glenmark reports encouraging clinical trial data on GBR 1302
Glenmark Pharma has reported positive clinical trial data on its phase 1 molecule GBR 1302. GBR 1302 is a potential drug candidate for Breast Cancer and Gastric Cancer.
The company has indicated that the preliminary data for GBR 1302 tells about the spikes in peripheral blood cytokines and a drop in T cell levels suggesting the potential for T cell activation.
The company has said that it is encouraged by these initial findings and look forward to continuing the studies.  GBR 1302 is Glenmark’s lead immuno-oncology agent based on the proprietary BEAT® bispecific antibody engineering platform.

Dr. Reddy’s Bachupally plant completes successful re-inspection by German regulator
Dr. Reddy’s has announced that the German drug regulator has carried out re-inspection of its Bachupally formulations plant (unit 2). The company has successfully completed this re-inspection as its subsidiary Betapharm has received a communication from the regulator that it can now start dispatching products to Europe from this plant.
The status of the EU GMP non-compliance is also to be removed from its plant by the Government of Upper Bavaria.

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647


Wednesday, 24 January 2018

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Capitalstars Updates: Top Corporate News:- 24 Jan 2018

Capitalstars Updates:  Top Corporate News

Top Headlines Of The Day:- 24 Jan 2018

RBL Bank falls 4% as asset quality worsens in Oct-Dec
Ashok Leyland bags order for 1,200 trucks from VRL Logistics
Bharti Airtel gets approval for acquiring operations of Millicom in Rwanda
Eveready to form JV with Indonesia based company for FMCG products
Bank of Baroda may float $1bn QIP soon


RBL Bank falls 4% as asset quality worsens in Oct-Dec
RBL Bank stock fell over 4% after the company reported an increase in bad loans in Oct-Dec, and net profit missed estimates.
For Q3FY18, RBL Bank’s NII improved by 45% yoy to Rs467cr against Rs322cr in Q3FY17.
The NIMs for Q3FY18 stood at 3.89%, which improved by 15bps qoq. The bank’s net profit was below estimates, improvement of 27.9% yoy to Rs165cr against Rs129cr.
Its GNPA for Q3FY18 stood at 1.56% against 1.44% qoq, which has increased by 12bps. NNPA for the quarter came at 0.97% against 0.78% qoq.
The advances for the quarter came at Rs36, 890cr, up 38% yoy and 10% qoq.

Ashok Leyland bags order for 1,200 trucks from VRL Logistics
Ashok Leyland Limited (ALL), one of the largest commercial vehicle (CV) manufacturers in India, bagged an order for 1,200 trucks from VRL Logistics Limited (VRL). The order for 1,200 trucks is for two models – “AL 3123” and “AL 3723”, for 600 units each. ALL released this to the stock exchanges on January 24, 2018. The order amounts to Rs350cr. VRL is a key client for ALL since the former sources 80% of its CV requirement from the latter. 
ALL is the third largest manufacturer of commercial vehicles (trucks, buses, tippers, trailers and defence vehicles) in India with ~18% market share. The company is also engaged in the manufacturing and selling of engines for industrial and marine applications, spare parts and special alloy castings.

Bharti Airtel gets approval for acquiring operations of Millicom in Rwanda
Bharti Airtel Ltd (Airtel) a leading global telecommunications services provider with operations in 16 countries across Asia and Africa, announced that it has received an approval for the acquisition of Tigo Rwanda Ltd (Tigo Rwanda), a subsidiary of Millicom International Cellular S.A. (Millicom) from the Rwanda Utilities Regulatory Authority (RURA).
The merged entity will have the largest customer base in Rwanda with 5.9 million subscribers. The combined networks of the two companies will serve customers with voice/ data services, global roaming and mobile banking services. It will also have Rwanda’s largest sales and distribution network.
The merger will result in the only negative ebitda OpCo joining other 13 positive ebitda OpCos in Africa.

Eveready to form JV with Indonesia based company for FMCG products
India’s leading dry cell battery maker, Eveready Industries India Limited (EIIL) will form a Joint Venture (JV) with Indonesia based Universal Wellbeing Pte. Ltd. (UW) for manufacturing, importing and marketing of Fast Moving Consumer Goods (FMCG) in India. EIIL will hold 30% stake in the soon-to-be-formed JV while UW will hold the remaining 70% stake. EIIL announced this to the stock exchanges on January 24, 2018.
EIIL plans to make use of its pan-India battery distribution network to sell a bouquet of FMCG products in urban and rural areas. As per its FY17 Annual Report, EIIL has a 4,000+ distribution network and 42 distribution centers. EIIL’s products are available across more than 3.2mn outlets.

Bank of Baroda may float $1bn QIP soon
Media reports suggest that Bank of Baroda is expected to float its $1bn qualified institutional placement of shares in two to three weeks. In November, The Finance Committee of the Board approved the proposal of raising additional equity capital aggregating up to Rs6, 000cr by way of a rights issue or qualified institutions placements (QIP). This move is positive for the bank, as it would provide much-needed headroom to provide for bad loans and would also help for next leg of loan growth. The stock would react positively to this news. Banks have been raising funds in the past few months to boost their capital adequacy ratio ahead of the government's recapitalization plan.


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Tuesday, 23 January 2018

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Capitalstars Updates: Top Corporate News :- 23 Jan 2018

Capitalstars Updates:  Top Corporate News

Top Headlines Of The Day:- 23 Jan 2018

ONGC gains 3%, gets nod to sell stake in IOC and GAIL to fund HPCL deal
IOCL gains as company's board to mull bonus share issue
Kalpataru Power zooms on growing order book
Torrent Pharma to consider fundraising
MCX gains 2% as SBI MF buys 1.6% stake in the company

ONGC gains 3%, gets nod to sell stake in IOC and GAIL to fund HPCL deal
Oil and Natural Gas Corporation (ONGC) signed a deal to acquire 51.11% government stake in Hindustan Petroleum Corporation Limited (HPCL).
As per media reports, ONGC has got approval from the government for selling its stake in IOC and GAIL to help fund its acquisition with HPCL for which it requires ~Rs36, 915cr.
ONGC currently holds 13.77% stake in IOC which at current Mcap values to ~Rs 26,000cr. In GAIL, it holds ~4.86% stake valuing to ~Rs3900cr bringing the combined stake sale value to ~Rs29, 900 cr.
The company is currently evaluating various options for funding its HPCL acquisition. ONGC management is considering its cash first, followed by its liquid assets, although it won’t sell its liquid assets in distress. Company also has offers over Rs50, 000cr debt at very competitive rates.

IOCL gains as company's board to mull bonus share issue
Shares of Indian Oil Corp (IOCL) gained nearly 3% ahead of its board meeting on Jan 30, where the company will consider a bonus share issue. The stock was the best performer among Nifty 50 constituents.
While a bonus share issue does not change fundamentals of a company, it increases liquidity in the stock, often pushing up share prices.

Kalpataru Power zooms on growing order book
Kalpataru Power Transmission Limited (KPTL) has secured new orders for construction of substations, transmission lines, and railway electrification
The scope of the orders include the following :
Design, supply, and construction of substations and associated transmission line work from APTRANSCO for Rs282cr
400kV double circuit transmission line from Power Grid Company of Bangladesh and an order for 132 kV Transmission Line from Nepal Electricity Authority for ~Rs100cr
Design, supply, erection, testing and commissioning of railway electrification work for Rs123cr Pipeline augmentation work in Rajasthan for Rs366cr from a private client.

Torrent Pharma to consider fundraising
Torrent Pharma has indicated that its board will consider raising funds in a meeting scheduled on January 25. This fundraising could be either in form of issuance of equity shares (including convertible/non-convertible debentures/bonds) through QIP or depository receipts or by way of private placement or any other mode.
Torrent Pharma has recently completed two acquisitions i.e. domestic formulations business of Unichem Laboratories acquired in December 2017 and US-based generic, OTC player Bio-Pharm Inc in January 2018. Both the acquisitions are to solidify its business in India and US respectively. Bio-Pharm, Inc has a USFDA registered manufacturing facility in the US and Torrent is planning to scale this facility up and start filling more products from there.

MCX gains 2% as SBI MF buys 1.6% stake in the company
Shares of Multi Commodity Exchange (MCX) rose nearly 2% today after SBI Mutual Fund bought 1.61% stake in the company through a bulk deal on the NSE on Monday. The fund house bought the shares at 840.50 rupees apiece.
In a separate deal, Barron International Growth Fund sold 1.13 mn shares or 2.2% stake in the company.
MCX is currently trading at Rs850.5, up by Rs9.35 or 1.11% from its previous closing of Rs841.15 on the BSE. The scrip opened at Rs857.05 and has touched a high and low of Rs858 and Rs847.75 respectively. So far 141378 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs4289.87cr.

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CapitalStars Kamyabi Ki Raah On CNBC Awaaz - 23 Jan 2018

CapitalStars Kamyabi Ki Raah On CNBC Awaaz - 23 Jan 2018


CapitalStars Award Winning, SEBI registered, ISO certified investment advisory company. We provide intraday & positional services in equity , derivative ,commodity & currency. Our research team is highly skilled & experienced 

Please Contact 0731-6690000.

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647



Monday, 22 January 2018

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Capitalstars Updates: Top Corporate News :- 22 Jan 2018

Top Headlines Of The Day:- 22 Jan 2018

Capitalstars Updates:  Top Corporate News

Axis Bank Q3 beats estimates; profit jumps 25% to Rs 726 cr, asset quality improves
ONGC to acquire 51.11% government stake in HPCL, ONGC gains 5%
Dr. Reddy's fined $5mn by US court over drug packaging
Tata Motors hikes product prices by 1-3.7% in Mumbai
Tata Steel to raise Rs12,800cr through rights issue


Axis Bank Q3 beats estimates; profit jumps 25% to Rs 726 cr, asset quality improves
Country's third largest private sector lender Axis Bank's third-quarter earnings beat analyst expectations, with improvement in asset quality performance.
Profit during the quarter grew by 25.3 percent year-on-year to Rs 726.4 crore despite fall in other income & operating income, driven by lower provisions and higher net interest income.
Net interest income, the difference between interest earned and interest expended, grew by 9.2 percent to Rs 4,731.52 crore compared to Rs 4,333.73 crore in year-ago, with strong loan growth at 21 percent YoY.

ONGC to acquire 51.11% government stake in HPCL, ONGC gains 5%
Oil and Natural Gas Corporation (ONGC) signed a deal to acquire 51.11% stake in Hindustan Petroleum Corporation Limited (HPCL) for about Rs36,915cr in an all-cash deal, which would close by end of Jan 2018. The deal is proposed to buy 778845375 equity shares in HPCL at a cash purchase consideration of Rs473.97 per share which is ~13.8% premium to HPCL’s closing on Friday (BSE).
The goal of this deal was to create an integrated oil major to compete with global rivals and will help the government meet annual disinvestment target. The deal is exempt from a public offer as both the entities are related parties but the acquisition involving two listed entities have been carried out on an arm’s length basis.

Dr. Reddy's fined $5mn by US court over drug packaging
A federal court in the US has imposed a $5mn civil penalty on a subsidiary of Dr. Reddy’s Laboratories for distributing prescription drugs in blister packs that were not child resistant. Child-resistant packaging is a critical safety measure.
Dr. Reddy’s failed to ensure that children were protected from potentially harmful prescription drugs and that it failed to comply with Poison Prevention Packaging Act (PPPA) and the Consumer Product Safety Act (CPSA) according to the US Department of Justice. As per the complaint, Dr. Reddy’s distributed such prescription drugs until 2012 and also failed to notify the Consumer Product Safety Commission.

Tata Motors hikes product prices by 1-3.7% in Mumbai
Tata Motors Ltd (TML) has increased ex-showroom prices of all its cars by 1.0-3.7% in Mumbai. This comes after the company offered a limited-period insurance and exchange offer to its customers on five models. 
According to Cogencis, the company has raised prices of the Tiago hatchback by 1.3-2.4% for the petrol variant, and 1.7-2.6% for the diesel variant. Prices for Tiago's petrol variant now start at Rs3, 31,646 ex-showroom Mumbai, and Rs4, 11,181 for the diesel variant.
TML, on the consolidated level, derives ~80% of its revenue from a wholly owned subsidiary, JLR, which had witnessed EBITDA margin decline in FY16 and FY17 on account of weakness in volumes growth, model mix, and forex losses. Standalone business (~80% CV and PV) has experienced market share losses and is expected to turnaround the trend on account of better acceptance of SCR technology (CV) and series of new launches in PV segment (Tigor/Hexa/Tiago).

Tata Steel to raise Rs12,800cr through rights issue
Tata Steel announced that it would be raising Rs12, 800cr via a rights issue in mid-February 2018. The rights issue would consist of two simultaneous but unlinked offers of – (1) 15.54cr fully paid up shares at Rs510 per share, and (2) 7.77cr partially paid-up shares at Rs615 per share. The company would raise up to Rs8, 000cr from the first offer and Rs4, 800cr from the second offer. The rights entitlement ratio for the fully paid up shares is 4 fully paid up shares for 25 ordinary shares held on the record date. The rights entitlement ratio for the partially paid-up shares is 2 fully paid up shares for 25 ordinary shares held on the record date.

The record date for the issue is February 1, 2018. The issue would open on February 14, 2018, and close on February 28, 2018. On December 19, 2018, the Board of Directors of Tata Steel had approved the raising of capital via rights issue as well as a 5 mtpa expansion to the Kalinganagar steel plant. Currently, the Kalinganagar steel plant has a capacity of 3mtpa and had a utilization level of 100% for Q3FY18.


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Saturday, 20 January 2018

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CapitalStars On CNBC Awaaz, Kamyabi Ki Raah - 20 Jan 2018

CapitalStars On CNBC Awaaz, Kamyabi Ki Raah - 20 Jan 2018


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Capitalstars Updates: News that mattered during the week: 20 Jan 2018

Capitalstars Updates: News that mattered during the week

Important news that made headlines during the week.

Biocon enters into a global partnership with Sandoz to develop, manufacture and commercialize multiple biosimilars in immunology and oncology
Torrent Pharma acquires US-based generic pharmaceuticals Bio-Pharma Inc
Tech Mahindra to acquire 17.5% shares of Altiostar on a fully diluted basis
TCS expands partnership with Shure Inc to establish global development center
Housing Finance gets RBI nod for US $500mn masala bonds
Adani Power gets 49% stake in 600 MW Korba West Power
Varun Beverages to acquire franchisee rights for Pepsico India in the state of Bihar
Sun Pharma got a license to sell the generic version of Linzess in the US from February 1, 2031, after settling patent litigation
GAIL, Gazprom sign pact for re-negotiated long-term LNG sale
Texmaco Rail considering setting up logistics hub and food park in West Bengal
Kotak Mahindra is mulling divesting its stake in MCX
Bajaj Finance to hold 12.6% stake in Mobikwik on a fully diluted basis post-conversion of Compulsorily Convertible Preference Shares for a total investment of Rs225cr

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Friday, 19 January 2018

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Capitalstars Updates: Top Corporate News :- 19 Jan 2018

Capitalstars Updates:  Top Corporate News

Top Headlines Of The Day:- 19 Jan 2018

Alembic to consider share buyback
Pizza still hot, Jubilant Foodworks stock jumps 7% after strong performance
Lupin launches generic Vibra-Tabs tablet in the US
Cadila Healthcare's Dabhasa plant clears USFDA inspection
GST rate on drip irrigation products reduced from 18% to 12%, Jain Irrigation gains 4%


Alembic to consider share buyback
Alembic Ltd has indicated that the board of directors would consider and approve the share buyback in the board meeting to be held on January 23, 2018. The board of directors would also consider the minimum a the d maximum number of shares, mode of the buyback, etc.
Alembic Ltd in Q2FY18 reported debt-free balance sheet and had a cash and investments (long term and short term) of Rs735cr. It has a total net worth of Rs911cr. Capex requirement has not been very high in the last three years. Overall balance sheet remains strong and has been generating cash flows over the past three years.

Pizza still hot, Jubilant Foodworks stock jumps 7% after strong performance
Jubilant Foodworks (JFL) stock rallied 7.0% backed by strong quarterly performance. The stock is currently trading at a 52-week high on the BSE.
The stock reacted positively on account of its strong Q3FY18 performance. JFL reported a strong set of numbers for Q3FY18, significantly ahead of consensus estimates on operating and profitability fronts. Revenue grew by 20.7% YoY to Rs795.2cr. Same Store Sales (SSS) growth for Domino’s for the quarter stood at 17.8% yoy led by product upgrades, everyday value pricing offers. Dunkin' losses have continued to reduce owing to the sharper focus on donuts and beverages and closure of unprofitable stores.

Lupin launches generic Vibra-Tabs tablet in the US
Pharma Major Lupin announced the launch of its Doxycycline Hyclate Tablet USP, 100 mg having received an approval from the United States Food and Drug Administration (FDA) earlier.
Lupin’s Doxycycline Hyclate Tablet USP, 100 mg is the AB-rated generic equivalent of Pfizer Inc.’s Vibra-Tabs, 100 mg. It is indicated in the treatment of infections caused by various microorganisms and as an adjunctive therapy in severe acne.
Doxycycline Hyclate Tablet USP, 100 mg had annual sales of approximately USD 144 million in the US. (IMS MAT November 2017).

Cadila Healthcare's Dabhasa plant clears USFDA inspection
Cadila Healthcare reported that its Dabhasa plant has cleared a USFDA audit with zero observations. Dabhasa is an API plant, which is located near Vadodara. This plant was earlier cleared by the Mexican health authority (COFEPRIS) as per its conference call in August 2017.
Last year, Cadila received approval for its Moraiya facility, which is very critical for its pipeline monetization and future growth. We believe that clearance to another plant is a positive news on this counter. While the facility approvals are positive, competition in the US market is expected to put pressure on margins in FY19E. The stock currently trades at a rich valuation (23x of FY19E EPS).

GST rate on drip irrigation products reduced from 18% to 12%, Jain Irrigation gains 4%
Jain Irrigation Systems stock is up 4% on the back of the news that the GST rate on Drip irrigation systems including laterals, sprinklers products has been reduced from 18% to 12% as per the decision was taken at 25th GST Council Meeting held on January 18, 2018. The new GST rates shall be effective from January 25, 2018.
The company has decided to pass on this benefit of 6% directly to the customers/farmers. This is a positive step taken by the Government to encourage farmers to invest in efficient irrigation systems which saves water and improves productivity. We estimate that this action will have a positive impact in the upcoming busy season for our Drip Irrigation Division, according to the press release.



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