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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Nifty Like To Open flat 08-JAN-2018

Market Live: Nifty flat in pre-opening trade, Sensex up 90 pts; Gruh Finance falls 10%.

Indian Indices: Trends on SGX Nifty indicate a flat start with a hint of negative bias.

Global Market:
Asian markets: Asian markets are higher today as Japanese and Hong Kong shares show gains. The Nikkei 225 is up 0.80% while the Hang Seng is up 0.21%. The Shanghai Composite is not trading.
 US Markets: Asian stocks mixed as US-China trade talks continue.
 European markets: European markets finished lower today with shares in London leading the region. The FTSE 100 is down 0.39% while France's CAC 40 is off 0.38% and Germany's DAX is lower by 0.18%.


Major Headlines of the day:

Rupee opens lower at 69.80 per dollar.

The market is facing significant resistance around 11,000 on the Nifty, and is likely to consolidate in a 500-point range between 10,500 and 11,000, says Udayan Mukherjee.

Nifty Futures on Singaporean Exchange were trading mildly lower on Tuesday morning. They were trading a tad below 10,800-mark.


The trend in FII flows:- The FIIs were Net Value of Rs 736.18 segment while the DIIs were Net Value of -141.97 the provisional figures.


Securities in Ban For Trade Date 08-JAN-2019
1.Adani power
2.Jetairways

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Nifty likely to open higher 07-JAN-2019

Indian Indices: All sectors are trading in the green, with maximum gains seen among metals, automobiles, consumption, as well as financials.

Global Market: Asian markets: Japanese shares are higher today as the Nikkei 225 gains 2.68%. The stock markets in Hong Kong and Shanghai are closed at this time.
US Markets: Dow jumps more than 700 points, propelled by Powell's comments and a blowout jobs report.
European markets: European markets closed sharply higher on Friday with shares in Germany leading the region. The DAX is up 3.37% while France's CAC 40 is up 2.72% and London's FTSE 100 is up 2.16%.


 Major Headlines of the day:

Rupee gains 30 paise in the opening, trades at 69.42 per dollar.

ONGC to invest Rs 6,000 crore in drilling wells in Assam.


 The trend in FII flows:- The FIIs were Net Value of Rs -157.72 segments while the DIIs were Net Value of 240.6 the provisional figures.


Securities in Ban For Trade Date 07-jan-2019
1.Adani power
2.Jetairways

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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

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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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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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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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MARKET WRAP UP 2-jan-2018

Closing Bell: Sensex ends over 350 points lower, Nifty gives up 10,800; autos, metal drag.

Equities have ended the session off low points, but still in the red. Weak global and domestic cues weighed on the indices. The Nifty managed to give up 10,800.

Weakness was visible among automobiles, banks, energy, metals and pharmaceuticals. The Nifty Midcap index, too, fell over a percent during the trade. 

At the close of market hours, the Sensex was down 363.05 points or 1.00% at 35891.52, while the Nifty down 117.60 points or 1.08% at 10792.50. The market breadth is negative as 941 shares advanced, against a decline of 1,577 shares declined, while 169 shares were unchanged. Sun Pharma and TCS were the top gainers, while Vedanta, M&M, Eicher Motors and JSW Steel lost the most. 

HEADLINES OF THE DAY

Essel Propack is issuing Commercial Papers (CP) for Rs 35 crore on private placement basis.

SVL has delayed payment of interest for listed NCDs on the due date 

Jet Airways plunges over 5% after default on payment, rating downgrade

Bajaj Electricals approves ffundraising Board approved a proposal to raise Rs 250 crore by way of issue of debt securities in the form of Unsecured Listed Redeemable Non-Convertible Debentures (NCDs) on a Private Placement basis. ICRA downgraded long-terminating of Jet Airways to D from C. The short-term rating has been revised to D from A4.

Infosys to announce Q3 earnings on January 11

Capacite Infraprojects rose 4 percent after cthe ompany received contract worth Rs 97.69 crore.

Vedanta slips 3.7 percent: The company shares are trading lower after the Tamil Nadu government moved Supreme Court against the order of National Green Tribunal allowing reopening of Sterlite's Tuticorin unit.

TCS to announce Dec quarter results on January 10

NCC wins order: NCC has received four new orders totaling to Rs 2,890.7 crore in the month of December, 2018.

Hero MotoCorp pitches for 18% GST on two-wheelers

The crucial resistance for Nifty spot is now seen at 10860 and above this 11110 Support for the immediate term is now placed at 10620 next support will be 10480.

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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

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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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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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CS OPENING BELL 2-JAN-2018

NIFTY SPOT DOWN 70 @10842
SENSEX SPOT DOWN 206 @36062
BANK NIFTY FUTURES DOWN 146 @27366
HAPPY TRADING!
WWW.CAPITALSTARS.COM+919977499927

CS NIFTY FUTURES (NOV ) OVERVIEW

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

CS BANK NIFTY FUTURES (NOV ) OVERVIEW
TREND BULLISH 
RES 2: 27600
RES 1: 27480
SUP1: 27200
SUP2: 26900 

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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

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