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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CORPORATE NEWS By CapitalStars 20/Feb/2019

Alembic Pharma gets USFDA nod for Acetazolamide ER capsules; stock up 1%

Alembic Pharmaceuticals has received approval from the US Food & Drug Administration (USFDA) for its ANDA Acetazolamide Extended-Release (ER) capsules, 500mg. The approved ANDA is therapeutically equivalent to the reference listed drug product (RLD) Diamox Sequels, 500 mg, of Teva Branded Pharmaceutical Products R&D Inc, as per BSE filing.

Acetazolamide Extended-Release Capsules, 500mg has an estimated market size of $13.1mn for twelve months ending December 2018 according to IQVIA.

Aarti Industries signs supply contract worth Rs900cr

Aarti Industries in its filing to the exchanges on Wednesday informed that the company has inked a $125mn (Rs900cr at current exchange rate) supply contract with a global chemical conglomerate.

"The contract entails supply of a high-value specialty chemical intermediate for a period of 10 years," the company added. The plant is expected to commission in the fourth quarter of FY21, with an average annual revenue of $12.5mn.

Strides gets USFDA approval for Ethosuximide Softgel capsules

Strides Pharma Science on Wednesday announced that its step�down wholly-owned subsidiary Strides Pharma Global Pte Ltd, Singapore, has received approval for Ethosuximide Softgel Capsules USP, 250 mg, from the United States Food & Drug Administration (USFDA).

The product is a generic version of Pfizer's Zarontin Capsules, 250 mg.

The product was approved in the first review cycle in less than 10 months of its filing under the GDUFA II regime. Strides specializes in the softgel domain and is a global leader in the Rx space.

ADAG stocks decline after Anil Ambani held guilty of contempt

Stocks in the Anil Dhirubhai Ambani Group (ADAG) declined in the morning trade on Wednesday after media reports said that the SC held Reliance Group chairman and its two directors guilty of contempt for willfully not paying Rs550cr to Ericsson.

Ericsson had filed three contempt plea in the Supreme Court for not clearing its dues. The SC said that Anil Ambani and the two directors had to pay Rs453cr to Ericsson India in four weeks, failing which they could be jailed for at least three months. The court has also imposed a fine of Rs1cr both the directors. If they fail to deposit the fine, one-month jail will be awarded, the report added.

�We respect the Hon'ble Supreme Court judgement. The RCOM Group shall comply with same,� the company said in the BSE filing.

Yes Bank clarifies on releasing nil divergence report; stock gains 2%

Yes Bank's shares gained 2% on Wednesday after the bank clarified on releasing nil divergence report and stated that information was in due compliance.

The exchange had sought a clarification from the bank regarding Risk Assessment Report (RRR) for the year ended March 31, 2018. In reply to that, the bank said, "it was deemed expedient to share this information through the stock exchanges to all market participants and not to withhold the same till finalisation of the Annual Results."

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MARKET WRAP UP 03-JAN-2019

Closing Bell: Sensex ends over 370 points lower, Nifty below 10,700; metals, auto decline.

Equities are closing the session with cuts of over a per cent on both indices. The Nifty ended below 10,700, while the Sensex ended nearly 400 points lower. 

Amid an all-around sell-off among sectors, financials, automobiles, and metals bled, while investors also dumped in the midcaps space. 

All of this added to the volatility on the market. 

At the close of market hours, the Sensex was down 377.81 points or 1.05% at 35513.71, and the Nifty lower by 120.20 points or 1.11% at 10672.30. The market breadth was negative as 962 shares advanced, against a decline of 1,588 shares, while 151 shares were unchanged.

Asian Paints, HUL, and Bharti Infratel were the top gainers, while ONGC, M&M, IOC and Eicher Motors lost the most.

HEADLINES OF THE DAY

Mahindra Lifespace Developers signs agreement with Maharashtra Govt: Deep Mangal Developers, wholly owned subsidiary has signed a non-binding State Support Agreement with the Government of Maharashtra for the development of a world-class tourist destination in Murud in district Raigad.

Rupee to be in 70-72 range against the dollar in 2019: ICICI Bank

The government has notified Rs 28,600 crore bank recapitalisation bond allocation.

Mahindra & Mahindra Financial Services plans to raise up to Rs 3,500 crore through public issue of non-convertible debentures (NCDs).

Alembic Pharma gets USFDA approval: The company has received USFDA (US Food & Drug Administration) approval Pramipexole Dihydrochloride extended-release tablets, 0.375 mg, 0.75 mg, 1.5 mg, 2.25 mg, 3 mg, 3.75 mg, and 4.5 mg. L&T Construction has won orders worth Rs 1,060 crore.

The crucial resistance for Nifty spot is now seen at 10720 and above this 10920 Support for the immediate term is now placed at 10480 next support will be 10370.

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CS OPENING BELL 3-JAN-2019

NIFTY SPOT DOWN 30 @10756
SENSEX SPOT DOWN 104 @35790
BANK NIFTY FUTURES DOWN 16 @27275
HAPPY TRADING!
WWW.CAPITALSTARS.COM+919977499927
CS NIFTY FUTURES (JAN ) OVERVIEW

TREND BEARISH
RES2: 11070
RES 1:10980
SUP1:10720
SUP2:10600 

CS BANK NIFTY FUTURES (JAN ) OVERVIEW

TREND BULLISH 
RES 2: 27600
RES 1: 27480
SUP1: 27200
SUP2: 26900

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Nifty likely to open flat 1-JAN-2019

Indian Indices: Nifty futures on the Singaporean Exchange indicate a flat start to indices here. The index futures were trading at 10,922.5, up 1 point on the SGX.

Global Market:

Asian markets: Asian markets finished mixed as of the most recent closing prices. The Hang Seng gained 1.34% and the Shanghai Composite rose 0.44%. The Nikkei 225 lost 0.31%.

 US Markets: U.S. stocks log worst year since 2008.

European markets: European markets finished mixed as of the most recent closing prices. The DAX gained 1.71% and the CAC 40 rose 1.11%. The FTSE 100 lost 0.09%.

 Major Headlines of the day:

Stocks To Watch

Automobile manufacturers will be in focus as they are set to announce their monthly sales data for December. (Heres how they are expected to fare.)

 Lupin received FDA approval for Clobazam Oral Suspension. This is a generic version of Lundbeck Pharma Onfi Oral Suspension for adjunctive treatment of seizures associated with Lennox-Gastaut Syndrome in patients two years of age or older.

JMC Projects received order worth Rs 596 crore. Out of this, Rs 434 crore is for residential and commercial projects in South India and the remaining Rs 162 crore is for civil works for a steel plant in Odisha. This company is a listed arm of Kalpataru Power Transmission.

HDFC revised its Retail Prime Lending Rate on which its adjustable-rate home loans are benchmarked by 10 basis points across various tenors, with effect from Jan. 1.

Dynamatic Technologies said it will receive Rs 40 crore as consideration for the transfer of all the fixed assets relating to the aluminium business of the Auto Division from Hi-Tech Arai. Along with this, the investors will also pay between Rs 5.5 and Rs 6.5 crore in order to acquire the company's inventories.

 Centrum Capitals arm acquired supply chain finance business of L&T Finance whose asset book consists of Rs 650 crore. Hindustan Construction Company said that its group Chief Financial Officer Praveen Sood has ceased to be the CFO and Key Managerial Personnel with effect from Dec. 31, upon the completion of the term of his contract. The company stated it is in the process of appointing the next CFO.

 Fortis Healthcare's board approved the extension of the long stop date under the Master Purchase Agreement to March 26. The company and its arm had entered into the agreement to purchase Indian Entities of RHT Trust under this agreement in Nov. 2017. On Dec. 28, statutory auditors Deloitte Haskins & Sells LLP had resigned.

Jindal Steel & Power's current CEO Naushad Akhter Ansari became the joint MD of the company with effect from Jan. 1.

KEC International and Adani Transmission mutually agreed to extend the date of sale to Jan. 31. They entered into this agreement on Nov. 3 in which KEC International was to sell its entire stake in KEC Bikaner Sikar Transmission Private Limited to Adani groups transmission arm.

Allahabad Bank revised MCLR by 10 basis points across various tenors. Overnight MCLR at 8.25 percent and One Year MCLR at 8.75 percent. credit access Grameen said it has completed a direct assignment of Rs 277.73 crore and securitization transaction of Rs 110.5 crore. Shriram Transport Finance would consider raising fund via debt during the month of January.

 The trend in FII flows:- The FIIs were Net Value of Rs -326.87 segment while the DIIs were Net Value of 321.98 the provisional figures.

Securities in Ban For Trade Date 01-DEC-2019

1.Adanipower

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MARKET WRAP UP.

Closing Bell: Sensex ends 2018 on a flat note, Nifty below 10,900; midcaps outperform.

Its a rather sombre end to the market on the last trading session of 2018. Mixed Asian and European cues kept the market in check. The Nifty ended 2018 below 10,900. Weakness was visible among index heavyweights, which dragged the indices. Meanwhile, among sectors, auto, metals and pharmaceuticals were all trading in the green.  At the close of market hours, the Sensex was down 8.39 points or 0.02% at 36068.33, and the Nifty up 2.60 points or 0.02% at 10862.50. The market breadth was narrow as 1495 shares advanced, against a decline of 1095 shares, while 164 shares were unchanged. Tata Steel, Vedanta, and JSW Steel were the top gainers, while Hero MotoCorp, Axis Bank, Bharti Airtel and Bharti Infratel lost the most.

HEADLINES OF THE DAY


Bharat Financial Inclusion gained 1 percent and CreditAccess Grameen rallied 3 percent intraday Monday after the completion of direct assignment transaction. State-run BHEL said it has bagged an order worth Rs 3,500 crore for setting up a 660 MW supercritical thermal power plant in West Bengal. DCB Bank advanced a percent after CRISIL upgraded its credit rating to AA-/Stable from A+/Stable for the Basel III Complaint Tier II bonds programme of Rs 150 crore by the bank. Cadila Healthcare shares gained 1.5 percent intraday after Zydus received approval from the US health regulator for anti-acne drug. Reliance Communications and Reliance Jio announced that they have extended the terms of an agreement for sale of wireless assets of the Anil Ambani owned firm.


The crucial resistance for Nifty spot is now seen at 10960 and above this 11120 Support for the immediate term is now placed at 10710 next support will be 10550.

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Nifty likely to open gap up 27-DEC-2018

Indian Indices: Experts expect the volatile movement to continue in the near term. 

Global Market:Asian markets: Asian markets are higher today as Japanese and Hong Kong shares show gains. The Nikkei 225 is up 3.74% while the Hang Seng is up 0.61%. The Shanghai Composite is not trading.
US Markets: US stock markets rally after a pre-Christmas slump.
European markets: European markets finished mixed as of the most recent closing prices. The DAX gained 0.21%, while the CAC 40 led the FTSE 100 lower. They fell 1.45% and 0.52% respectively.


Major Headlines of the day:

Stocks To Watch

Sun Pharma arm Dusa Pharmaceuticals got awarded Preliminary Injunctive Relief by U.S. federal district court prohibiting defendants Biofrontera from using Dusas proprietary trade secret information. Earlier this year, the Sun Pharma arm filed a lawsuit against Biofrontera alleging trade secret misappropriation and patent infringement of the company's photodynamic therapy patients and Levulan Kerastick drug.

 Hindustan Unilever clarified on the news of GST Authority finding guilty of profiteering Rs 383 crore stating that no methodology has been determined by National Anti-Profiteering Authority as required under the law to determine if the benefit has been passed or not. HUL will consider legal options available to it. On Dec. 24 the anti-profiteering authority ruled passed on order against the company to deposit Rs 223 crore.

Man Industries: Securities and Exchange Board of India imposed Rs 10 crore fine on 3 promoters of the company for failing to make an open offer to the company's shareholders. The regulators conducted a probe in the shareholding of the company from June to September in the year 2010, while observing that shareholding of the promoters increased from 51.29 per cent to 55.18 per cent. Under the SEBI regulations, it is mandatory to make an open offer if the promoters shareholding crosses the threshold limit of 55 per cent.

NTPC Limited: Investment approval has been accorded for Bilhaur Solar Project of 140 MW capacity and Auraiya Solar Project of 20 MW capacity. Previously on Oct. 11, the company had won 160 MW solar capacities in Uttar Pradesh Energy Agency's Solar Tender. Entertainment Network (India) clarified that terrestrial broadcasting was disrupted for only 30 hours due to fire in its Mumbai Common Transmission Infrastructure and the amount of damage is not significant and the equipment of the company at this common infrastructure is already insured.

Cimmcos promoter Titagarh Wagons to sell 15.4 lakh shares (5.64 per cent equity) today and tomorrow through an offer for sale route. The floor price for OFS set at Rs 38 per share, a discount of 11 per cent to the last regular trade.

The trend in FII flows:- The FIIs were Net Value of Rs 80.28 segment while the DIIs were Net Value of -137.63 the provisional figures.


Securities in Ban For Trade Date 27-December-2018
1.Adani power

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Nifty likely to open flat 24-DEC-2018

Indian Indices: The futures were trading at 10,767.50, a gain of 7.50 points on SGX Nifty.

Global Market:

 Asian markets: The futures were trading at 10,767.50, a gain of 7.50 points on SGX Nifty.

US Markets: Bear markets have just begun in the US! And D-Street sneezing already.

European markets: European markets finished higher on Friday with shares in Germany leading the region. The DAX is up 0.21% while London's FTSE 100 is up 0.14% and France's CAC 40 is up 0.04%.

 Major Headlines of the day:

  Stocks To Watch

 InterGlobe Aviation signed codeshare mutual agreement with Turkish Airlines. The aviation company said this agreement is a part of its international expansion strategy. Through this cooperation, Turkish Airlines will be offering new destinations in India as a marketing carrier on lndiGo operated flights, while the median carrier customers will be able to reach many European destinations through Turkish Airlines' network.

 Hero MotoCorp: Cut to Sell from Neutral at Goldman Sachs. Price target lowered to Rs 2,773 from Rs 3,175, implying a 17 per cent downside from Friday close.

 Entertainment Network (India) board approved the company foray into U.S. Markets. The proposed thrust for expansion will involve incorporation of arms in U.S. to enter into time brokerage arrangements to broadcast radio programs and content targeting the South Asian Community.

Fortis Healthcare: SEBI orders Singh brothers and other eight group companies to repay Rs 403 crore to the company itself. The order also stated that the Singh brothers and above-mentioned entities to not dispose any assets or divert funds except for payment of the said order for meeting day to day expenses. The order added that Malvinder Mohan Singh and Shivinder Mohan Singh shall not associate themselves with the affairs of Fortis Healthcare and Fortis Hospitals in any manner whatsoever, till further directions.

 Bandhan Bank clarified that the bank was unaware of the news that it is in talks with HDFC for control of Gruh Finance. The bank also stated that it is evaluating various opportunities and will not comment on market speculation.

 Petronet LNG restructured its LNG pact with Qatar based LNG Supplier RasGas. The company had entered into a binding sale and purchase agreement with RasGas for the supply of an additional 1 MMTP A of LNG for onward sale to local, BPCL, GAIL and GSPC in December 2015. The company added that contract has been re-structured by having direct arrangement between the LNG supplier and the Indian entities with effect from Jan. 1.

 PVR board approved raising Rs 750 crore via qualified institutional placement via debit or equity

Info Edge arm increased stake in Nopaperforms Solutions to 48.1 per cent by investing Rs 28 crore. The company provides digital solutions for educational institutions. Inox Leisure commenced commercial operations of Multiplex Theatre in West Bengal.

 BHEL is in talks with U.S. Firm for lithium-ion battery joint venture. (Bloomberg News)

Sundaram Finance: Competition Commission of India approves the acquisition of 40 per cent stake of Royal Sundaram General Insurance Company to Ageas Insurance International N.V. (Bloomberg News)

 Lumax Auto Technologies board approved the merger of its wholly-owned arm-Lumax DK Auto Industries with self.

 Infosys: Likely to buy back shares again for $1.6 billion (Times of India).

The trend in FII flows:- The FIIs were Net Value of Rs 134.14 segment while the DIIs were Net Value of -488.55 the provisional figures.

Securities in Ban For Trade Date 24-DECEMBER-2018

1.Adanipower

2.Adanient 

3.Jetairways

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