Market Live: Nifty likely to open higher.

Nifty above 11,850 in pre-opening, Sensex gains 200 pts; rupee opens higher Trends on SGX Nifty indicate a higher opening for the broader index in India. As the counting of votes for Lok Sabha elections is taking place, the market would want confirmation of exit polls, Arvind Sanger of Geosphere Capital Management told CNBC-TV18. On May 19, exit polls predicted the NDA may get around 250-300 seats in general elections, which means the ruling party may retain their power for another five-year term. "BJP majority would be very positive for the market sentiment. Less than 250 seats for BJP might lead to a correction whereas more than 300 seats for BJP would result in a rally,".

Global Market:
Asian Markets: Asian markets are lower today as Chinese and Hong Kong shares fall. The Shanghai Composite is off 0.79% while the Hang Seng is down 1.27%. The Nikkei 225 is not trading.
US Markets: North and South American markets finished lower today with shares in Mexico leading the region. The IPC is down 0.57% while the U.S.'s S&P 500 is off 0.28% and Brazil's Bovespa is lower by 0.13%.
European Markets: European markets finished mixed as of the most recent closing prices. The DAX gained 0.21% and the FTSE 100 rose 0.07%. The CAC 40 lost 0.12%.

Major Headlines of the day:

Rupee opens at 69.45 per dollar.

The seven-phase election, in which Prime Minister Narendra Modi of the BJP is seeking a second term, saw 8,000 candidates contesting. This Lok Sabha election is also a big test for the Rahul Gandhi-led Congress.

Biocon and Mylan's Ogivri gets Health Canada's approval Ogivri has been developed for the treatment of HER2-over expressing breast cancer and metastatic stomach cancer.

MOIL net profit up 6% at Rs135cr in Q4 Revenue from operations of the company stood at Rs436.59cr in March 2019 up 10% from Rs397.55cr in March 2018.

Earnings Reaction To Watch
ECLERX SERVICES
IGL
SUN TV

The trend in FII flows:- The FIIs were Net Value of Rs -965.02 segment while the DIIs were Net Value of -157.75 the provisional figures.

Securities in Ban For Trade Date 23-MAY-2019
ADANIPOWER
RELCAPITAL
IDBI

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CORPORATE NEWS BY CAPITALSTARS 21 MAY 2019

Glenmark Pharma gets USFDA nod for Solifenacin Succinate tablets
Glenmark Pharmaceuticals Inc., USA (Glenmark) has been granted final approval by the United States Food & Drug Administration (USFDA) for Solifenacin Succinate Tablets, 5 mg and 10 mg, a generic version of Vesicare Tablets, 5 mg and 10 mg1, of Astellas Pharma US, Inc.
According to CQ VIA sales data for the 12-month period ending March 2019, the Vesicare Tablets, 5 mg and 10 mg market achieved annual sales of approximately $942.7 million.
Glenmark's current portfolio consists of 154 products authorized for distribution in the U.S. marketplace and 58 and spending approval with the U.S. FDA. In addition to these internal filings, Glenmark continues to identify and explore external development partnerships to supplement and accelerate the growth of its existing pipeline and portfolio.

GAIL India to consider bonus issue on May 27
GAIL India, in its press note to the exchanges, informed that the company's board will meet on May 27 to consider bonus issue.
"The board of directors will also consider, the audited financial results for the quarter/ year ended on March 31, 2019, and also to consider the recommendation of final dividend for FY19, if any," the company said in a press note after markets hours to the exchanges on Monday.

Thyrocare Techs founder offers to buy entire companies stake in a unit
Thyrocare Tech, in its press note to the exchanges, informed that Dr A. Velumani, Chainnan, Managing Director & CEO has offered to buy the entire shareholding of the company in Nuclear Healthcare Limited (NHL), the wholly owned subsidiary.
The offer made at the current investment value of Rs194.67cr to ensure that there is no loss to the public shareholders, the company said in a press note to the exchanges on Tuesday.

BHEL commissions two more units of Kaleshwaram project
Bharat Heavy Electricals Limited (BHEL) has successfully commissioned two more pumping units (Units 3&4) of 116 MW each, of the 7x116 MW Kaleshwaram Lift Irrigation Scheme (LIS) Package-6 in Telangana.
BHEL had earlier commissioned units 1&2 of the same project in April 2019. Significantly, the pump for each unit is designed to lift 89.16 cumecs (cubic metres per second) of water by 105.5 metres.

Alembic Pharma receives USFDA approval for Solifenacin Succinate
Alembic Pharma, in its filing to the exchanges on Tuesday, informed that the company has received approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Solifenacin Succinate Tablets, 5 mg, and 10 mg, reacting to this, shares of the company climbed 1% on the BSE.
The approved ANDA is therapeutically equivalent to the reference listed drug (RLD), Vesicare Tablets, 5 mg, and 10 mg, of Astellas Pharma US, Inc. Solifenacin Succinate Tablet is a muscarinic antagonist indicated for the treatment of overactive bladder with symptoms of urge urinary incontinence, urgency, and urinary frequency.

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Market Live: Nifty likely to open higher.

The Nifty50 is likely to open with a gap of over 100-150 points in morning trade on Monday tracking Exit Poll results and positive trend seen in other Asian markets. Wall Street ended lower on Friday as continuing trade tensions pulled industrial and tech shares down, and the Dow capped a fourth straight week of losses in its longest weekly losing streak in three years. Trends on SGX Nifty indicate a gap up opening for the broader index in India, a jump of 242 points or 2.12 percent. Nifty futures were trading around 11,677-level on the Singaporean Exchange. On the earnings front, as many as 86, companies will declare their results for the quarter ended March later today which include names like Astral Poly, Bharat Forge, BPCL, HEG, Jindal Stainless, Kitex Garments, Tata Motors, Torrent Pharma, United Breweries, etc. among others.

Global Market:

Asian Markets: Asian markets are lower today as Chinese and Hong Kong shares fall. The Shanghai Composite is off 0.73% while the Hang Seng is down 0.50%. The Nikkei 225 is not trading.US Markets: North and South American markets finished mixed to lower as of the most recent closing prices. Shares in U.S. fell as the S&P 500 dropped 0.58%. The Bovespa lost 0.04% while the IPC in Mexico closed unchanged.European Markets: European markets finished lower on Friday with shares in Germany leading the region. The DAX is down 0.58% while France's CAC 40 is off 0.18% and London's FTSE 100 is lower by 0.07%.

Major Headlines of the day:

Rupee opens at 69.49 per dollar.

Reliance Capital protests CARE Ratingsâ downgrade action The company expects to realize minimum proceeds of over Rs10,000cr and sharply cut its overall debt by more than 50% within the current financial year.
Fortis Healthcare's arm to sell 28.89% stake in MSCL The proposed transaction is subject to the approval of FHIL shareholders as well as regulatory approval if required.
USFDA inspection at Cipla's Indore plant ends with zero observations USFDA conducted a post-approval inspection at the company's Indore facility from May 13 to May 17, 2019.

Earnings Reaction To Watch

BHARATFORGBPCLHPCLTATAMOTORSTORRENT PHARMA

The trend in FII flows:- The FIIs were Net Value of Rs -1057.82 segments while the DIIs were Net Value of 1809.76 the provisional figures.
Securities in Ban For Trade Date 20-MAY-2019JETAIRWAYS

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Nifty likely to open flat 04-JAN-2018

Indian Indices: Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 17.5 points or 0.16 per cent. Nifty futures were trading around 10,702-level on the Singaporean Exchange.

Global Market:Asian markets: Asian markets are higher today as Japanese and Hong Kong shares show gains. The Nikkei 225 is up 3.03% while the Hang Seng is up 1.41%. The Shanghai Composite is not trading.
US Markets: Market movers: Recession signs in US, e-comm players seek time on new FDI rule.
 European markets: European markets finished broadly lower today with shares in France leading the region. The CAC 40 is down 1.66% while Germany's DAX is off 1.55% and London's FTSE 100 is lower by 0.62%.

Major Headlines of the day:

 


 The trend in FII flows:- The FIIs were Net Value of Rs -972.81 segments while the DIIs were Net Value of 34.52 the provisional figures.



Securities in Ban For Trade Date 04-jan-2019
1.Adani power
2.Jetairways

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CORPORATE NEWS 02-JAn-2018

Tamil Nadu govt moves SC for the closure of Vedanta Tuticorin unit: Media reports

Shares of Vedanta slipped 4% on Wednesday after media reports said that the Tamil Nadu (TN) government moved the Supreme Court against the order of National Green Tribunal (NGT) allowing the company to re-open Sterlite's Tuticorin unit. On December 15, NGT had trashed the state governments order for closure of the plant citing non-sustainable and unjustified as a reason. The plant was at the centre of massive protests over alleged pollution.

TVS Motor misses volume expectations due to a slowdown in motorcycle and scooter sales

TVS Motor Company Limited (TVSM) reported lower-than-expected volume numbers in December 2018, missing consensus expectation. Total volume was up 6% yoy (down 15% mom) in December 2018. This was the slowest monthly yoy growth rate since October 2017. The company sold 2,71,395 vehicles in December 2018, against 2,56,870 vehicles in December 2017 and 3,19,965 vehicles in November 2018. Total volume missed BloombergQuint poll estimate of 2,91,000 vehicles. Three wheelers (3W) volumes continued to gallop, growing 37% yoy (down 1% mom) in December 2018. However, all three sub-segments of two-wheelers (2W) witnessed a slowdown. Scooter volume was up 9% yoy (down 18% mom), while motorcycle volume was up 13% yoy (down 11% mom). These were multi-month low growth rates for these sub-segments. Moped sales declined 13% yoy (down 20% mom). TVSM fared better than Hero MotoCorp (HMCL), which saw 4% yoy (26% mom) decline in 2W December volumes. Bajaj Auto (BJAUT) was clearly an outlier, with 2W volumes up 31% yoy (down 14% mom).

Jet Airways defaults on debt payment to banks

Shares of Jet Airways were down 2% in late morning trade on Wednesday as the debt-ridden airline company delayed the payment to a consortium of Indian banks led by the State Bank of India (SBI). "The payment has been delayed due to temporary cash flows mismatch and the company has engaged with the banks in relation to the same," the airline company said in a press note aftermarket hours to the exchanges on Tuesday.

Power Grid arm announces transmission system project Vindhyachal-V

PowerGrid Jabalpur Transmission Limited, a 100% wholly owned subsidiary of Power Grid Corporation of India Limited, has successfully commissioned transmission system strengthening associated with Vindhyachal-V.

The company made the announcement on Tuesday evening, post market hours. The project includes establishment of Vindhyachal pooling station - Jabalpur pooling station 765kV double circuit transmission line on a build, own, operate and maintain (BOOM) basis.

LIC Housing Chairman V.K. Sharma resigns

LIC Housing Finance said that V.K. Sharma has resigned as Chairman of the company from December 31, 2018, after superannuation from the services of LIC. I shall be laying down office as Chairman of Life Insurance Corporation of India today. I, therefore, tender my resignation from the Board of Directors of the Company with immediate effect. I take this opportunity to thank you and Members of the Board for all the kindness and consideration shown to me during my tenure on the board, the company said in a regulatory filing.

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Nifty Like to open 28-DEC-2018

A morning walk down Dalal Street | Minor pullback likely in metal, auto, cement & pharma sectors.

Indian Indices: Crude and rupees trajectory will be crucial for the market, going ahead.

Global Market: Asian markets: Asian markets are higher today as Japanese and Hong Kong shares show gains. The Nikkei 225 is up 0.47% while the Hang Seng is up 0.08%. The Shanghai Composite is not trading.
US Markets: US stock futures point to mixed Friday open amid roller coaster week.
European markets: European markets finished broadly lower today with shares in Germany leading the region. The DAX is down 2.37% while London's FTSE 100 is off 1.52% and France's CAC 40 is lower by 0.60%.


Major Headlines of the day:

Stocks To Watch
Lemon Tree Hotels entered into a joint venture with private equity firm-Warburg Pincus affiliate Magnolia Grove Investment with a primary focus on co-living. This joint venture marks the entry of the company into a new business segment for rental housing accommodation for students and working professionals. The Joint Venture partners will initially invest Rs 1,500 crore in equity over a period of time, with an option to invest another Rs 1,500 crore. Warburg Pincus will hold 68 percent stake while Lemon Tree Hotels will hold 30 percent stake and the balance stake will be held by Patanjali Keswani.
 United Bank of India: Government said it would infuse Rs 2,159 crore in the equity capital via preferential allotment. (Heres how much other banks are expected to get)
 Kansai Nerolac entered in to share-purchase agreement with Perma Construction Aids for Rs 29.1 crores. The target company belongs to construction chemicals industry and the paint company says the acquisition will be completed by Jan. 28.

 Hindustan Construction Company raised Rs 498 crore via a rights issue. The promoter stake in the company has increased from 27.8 percent to 33.12 percent.

 Majesco's U.S. Insurance arm announced Jan. 7 as record date for rights offering to its shareholders at $7.1 per share. The company says it will use the net proceeds from this offering to fund the remainder of the Exaxe acquisition, pay off debt and accelerate cloud growth. Ashoka Buildcons board approved raising Rs 150 crore via non-convertible debentures. WABCO India clarified that the news of Wabco signing $950 million supply pact with commercial vehicle maker is for its parent company and not for the Indian arm. Corporation Bank appointed Canara Banks Executive Director PV Bharathi as its Managing Director and Chief Executive Officer till March 2020.


Trend in FII flows:- The FIIs were Net Value of Rs 1731.91 segment while the DIIs were Net Value of -663 the provisional figures.

Securities in Ban For Trade Date 28-dec-2018
1.Adani power

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CORPORATE NEWS 18-DEC-2018

Bombay Dyeing rises 5% as board gives nod for closure of subsidiary

Shares of Bombay Dyeing & Manufacturing Company were trading 5% higher on Tuesday after the company  board approved a proposal for closure of its subsidiary PT Five Star Textile Indonesia.
"The Company has given its consent by signing the Shareholder's Resolution of its subsidiary in Indonesia, i.e., PT Five Star Textile Indonesia on Dec 17, 2018, for the closure of the same," the company said in a press note after-market hours to the exchanges on Monday.

Glenmark gets USFDA nod for Fluocinolone Acetonide oil

Glenmark Pharmaceuticals Inc., USA (Glenmark) has been granted final approval by the United States Food & Drug Administration (USFDA) for Fluocinolone Acetonide Oil, 0.01% (Ear Drops), a generic version of DermOtic Oil, 0.01% (Ear Drops), of Hill Dermaceuticals, Inc. According to IQVIA sales data for the 12-month period ending October 2018, the DermaOtic Oil,0.01% (Ear Drops) market achieved annual sales of ~$18.1mn. Glenmark  current portfolio consists of 146 products authorized for distribution in the US marketplace and 54 ANDAs pending approval with the USFDA.

JLR said to have roped in Boston Consulting Group to bring in GBP2.5bn cost reduction

British luxury carmaker Jaguar Land Rover (JLR) owned by Indiaâ  Tata Motors Limited (TML) has charted a turnaround plan worth £2.5bn for saving costs to that extent over next two years. According to media sources, JLR has hired Boston Consulting Group (BCG) to advice on the turnaround plan. Along with the plan, it is also being reported by media sources that JLR could go in for aggressive job cuts to the tune of 5,000. However, this news is not confirmed. The management has targeted £2.5bn of cost, cash, and profit improvements through FY20 led by  slashing investments by £500mn each to £4bn in FY19 and FY20, ii) £500mn through inventory rationalization and working capital reduction and iii) £1bn of profit and cost actions.

Tata Steel, thyssenkrupp appoint Goss as CEO for planned JV

Tata Steel in its filing to the exchanges informed that the company with thyssenkrupp has appointed Andreas Goss, currently Chief Executive Officer (CEO) of thyssenkrupp's Steel division, as future Chief Executive Officer of the planned Joint Venture- thyssenkrupp Tata Steel B.V. The announcement was made after market hours on Monday. Tata Steel and thyssenkrupp have signed an agreement in June 2018 to combine their European steel businesses in a 50-50 Joint Venture. The proposed new company will be named as thyssenkrupp Tata Steel B.V, the company said in a press note.

ABB to sell power grid division to Hitachi for ~$7bn

ABB Ltd, in a release to the exchanges after-market hours on Monday, announced that it will sell its power grid business to Japanese conglomerate Hitachi for a consideration of ~$7bn. According to the details of the deal, ABB will sell 80.1% of the division with total enterprise value, including net debt, of $11bn. 
ABB will retain the remaining stake and plans to return ~$7.8bn to shareholders through share buyback or other means. However, the company will have the option to sell the 19.1% stake until three months after the completion of this deal. It also mentioned in the release that $500mn of non-operating restructuring charges will be spent in the next two years, the release added.

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