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 WRAP UP 04-JAN-2019

Closing Bell: Sensex ends the week with a gain of 181 pts, Nifty above 10,700.

Buying counters were buzzing in the last couple of hours for the market, helping them not only recover from low points, but also end the week on a strong note.
Except IT names, investors bought across sectors, with maximum gains seen among metals, energy and banks, among others. The Nifty Midcap index ended higher too. 
At the close of market hours, the Sensex was up 181.39 points or 0.51% at 35695.10, and the Nifty up 55.10 points or 0.52% at 10727.40. The market breadth was narrow as 1322 shares have advanced, against a decline of 1255 shares, and 159 shares are unchanged.
Yes Bank, Vedanta, and Bharti Infratel gained the most, while Infosys, TCS, HCL Tech and Tech Mahindra were the top losers.


HEADLINES OF THE DAY
Aviation industry continues to face turbulence, fall in oil prices likely to offer respite
NHPC said Dulhasti Power Station (390 MW) in Jammu & Kashmir has been under complete shutdown w.e.f. 03.01.2019 to 12.01.2019 (tentative) for the work of 'replacement of By-Pass Line valves of MIV'.
Manappuram Finance has made interest payment due on January 1, 2019.
Chinese Central Bank cut bank's reserve requirement ratio by 100 bps.
European shares traded higher following news that the US and China will hold trade talks next week.

The crucial resistance for Nifty spot is now seen at 10860 and above this 10980 Support for the immediate term is now placed at 10620 next support will be 10480.

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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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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!
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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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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 likely to open flat 2-JAN-2019

Indian Indices: Trends on SGX Nifty indicate a flat opening for the broader index in India, a rise of 11 points or 0.11 per cent. Nifty futures were trading around 10,934-level on the Singaporean Exchange.

Global Market:
Asian markets: Shares in Hong Kong are lower today as the Hang Seng falls 2.52%. The stock markets in Tokyo and Shanghai are closed at this time.
 US Markets: US stocks post worst year in a decade.
 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:
Rupee opens marginally lower at 69.52 per dollar


Trend in FII flows:- The FIIs were Net Value of Rs -48.19 segment while the DIIs were Net Value of 142.58 the provisional figures.



Securities in Ban For Trade Date 02-JAN-2019
1.Adanipower

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Nifty likely to open higher 31-DEC-2018

Indian Indices: Nifty has been flirting to its 50-DEMA from last 38 trading sessions and got stuck in a broader trading range with crucial hurdle at 10950-10985 zones.

Global Market:

 Asian markets: Shares in Hong Kong are higher today as the Hang Seng gains 1.60%. The stock markets in Tokyo and Shanghai are closed at this time.

 US Markets: U.S. Stock Futures Rally After Trump-Xi `Big Progress' Phonecall.

  European markets: European markets closed sharply higher on Friday with shares in London leading the region. The FTSE 100 is up 2.27% while France's CAC 40 is up 1.74% and Germany's DAX is up 1.71%.

 Major Headlines of the day:

 Stocks To Watch

 Marico: Minimum Support Price for Copra has been hiked by over Rs 2,000 per quintal for 2019 season by CCEA. The MSP of Copra has been increased from Rs 7,511 per quintal to Rs 9,521 per quintal. (Bloomberg News-All India Radio) IDBI Bank allotted 239 crore shares via preferential issue to LIC at a price of Rs 60.73 per share aggregating to Rs 14,500 crores in tranche 1. This exercise is the part of ongoing acquisition of 51 percent controlling stake by LIC in IDBI Bank. Aavas Financiers received fresh refinance assistance of Rs 500 crore from National Housing Bank. The company says that this refinance will strengthen the liquidity position of the company and will provide a strong boost to retail home loan activities in semi-urban and rural areas. Power Grid Corporation entered into a loan agreement for 200 million euros with Germanys KfW for the financing of transmission project for integration of clean energy and system strengthening. Government conveyed its decision to invest Rs 5,500 crore in Oriental Bank of Commerce by way of preferential allotment. The meeting to consider this capital raise will be held on Jan. 2.   JK Cement approved qualified institutional placement Issue price at Rs 695.8 per share which is at a discount of 5 per cent to the floor price of Rs 732.42.

credit access Grameen completed a direct assignment transaction of Rs 176.59 crore. The company says that with this transaction, the entity has completed five secularisation transactions and two direct assignment transaction amounting to Rs 909.70 crore in the financial year 2019. The financial services company also stated that the entire pool qualifies for priority sector treatment as per the Reserve Bank of Indias Priority Sector lending guidelines. Rane Holdings increased its stake in its arm Rane Madras Ltd. from 3.05 per cent to 61.64 per cent for a consideration of Rs 20 crore. Manali Petrochemicals clarified that there was no strike or lockout and no insurance cover based on notice received from the Pollution Control Board for the closure of Plant 1 on Dec. 25. The company also stated that quantum of loss would depend on the period of closure and the company has taken actions for an early restart to recoup the production loss.

Karnataka Bank raised its deposit interest rate by 10 basis points for domestic and NRE Rupee term deposits to 7.40 per cent with effect from Dec. 28. Government conveyed its decision to invest Rs 1,632 crore in Syndicate Bank by way of preferential allotment of equity shares. Piramal Enterprises said it was considering raising Rs 100 crore via NCDs on Jan.2. Central Bank of India's board approved raising Rs 200 crore via employee stock option.

 Ashok Leyland changed its object clause in which the company will engage in the business of developing, manufacturing and selling light commercial vehicles up to 7.5-tonne gross vehicle weight, powertrain for LCVs, and spare parts in India and other countries. This change in object clause comes after NCLT approved the order of amalgamating its three arms with as on Dec. 17.

Omaxe clarified that the NCLT issuing contempt notice against its CMD Rohtas Goel was wrongly interpreted as the notice is related in Buildwell Builders Pvt. Ltd., where Rohtas Goel is the director as well as the shareholder. There is no effect on the operations or the performance from the above news as stated by the company.

 Bank of Baroda to consider raising funds on Jan. 02 through Basel III compliant tier II bonds.

Tata Investment Corporation fixed Jan.11 as the record date for buy-back.

 Infibeam Avenues terminated the proposed acquisition in the entire stake of Unicommerce, as the conditions precedent were not fulfilled within the stipulated time period. NLC India commissioned 1000 MW (2*500 MW) of the thermal power project. The project has been completed in four months as against a target of six months. Asian Granito's promoter and MD was arrested by Directorate of Revenue Intelligence for a case related to an amount of Rs 3.5 crore. Currently Mukeshbhai Patel is out on bail.

Fortis Healthcare: Pursuant to share issue, IHH prefers to align its auditors on a group-wide basis which may streamline the audit process and bring inefficiencies. After due consideration, Deloitte the statutory auditors have tendered their resignation.

Cadila Healthcare: received final approval from the U.S. FDA to sell an anti-acne medication. The drug will be made in Ahmedabad facility.

Bank of India: Government to infuse Rs 10,086 crore via equity in the bank. Board to consider resolution for the same on Jan. 02.

 Bharat Financial Inclusion: NBFC assigned a pool of receivables of an aggregate value of Rs 849.36 crore to private sector banks on a direct assignment basis. With this transaction, the Company has completed five direct assignment transactions worth Rs 3,864.91 crore in the current financial year.

 Kotak Mahindra Bank in focus today as it is the RBI deadline date for owner Uday Kotak to cut stake in the company.

The trend in FII flows:- The FIIs were Net Value of Rs -119.6 segment while the DIIs were Net Value of 1199.4 the provisional figures.

Securities in Ban For Trade Date 31-DECEMBER-2018

1.Adani power

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