CH Stock Market Closing Bell 2-Nov-2017

closing bell

Closing bell

CH CLOSING BELL:

NIFTY FUTURE DOWN 24 @ 10452

BANK NIFTY FUTURE DOWN 65 @ 25465

SENSEX DOWN 46 @ 33553

INR 64.65

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Divis Labs Spikes as USFDA to Lift Import Ban

As per the company’s filing on BSE, the USFDA has informed the company that it will be lifting the Import alert 66-40 and will be moving to close out the warning letter issued to the company’s Unit-II at Vishakhapatnam. The Divi’s stock is up 15% or Rs 139 trading at Rs 1062 on NSE at 9.15 am.

The US drug regulator, after its reinspection of the plant during September 11 to 19, 2017, had issued six observations by raising Form-483.

The Company, in its September, 2017 quarter financial results press release, had mentioned that it had filed responses to the USFDA within the given stipulated time.

The Company had reported tepid September, 2017 quarterly financial results due to the impact of Import alert on the Unit-II plant. The Company has seen a drop in its net revenue from operations from Rs 994.18 crores in corresponding quarter of previous year (net of excise duty) to Rs 887.52 crores in the reported quarter by 11 % and a slip in the net profit from Rs 223.85 crores in corresponding quarter of previous year to Rs 206.78 crores in the reported quarter by 8 %.

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Hero MotoCorp Down 2% post Jul-Sep Earnings

Hero MotoCorp was down 2% at around 9:45 AM today as its September quarter net profit at Rs 10.1 billion came flat and fell short of market expectation of Rs 10.4 billion.

However, Hero MotoCorp said that the first half of 2017-18 (Apr-Mar) has been exciting with the industry rebounding in the festive quarter, and with new product launches. The company added that it is confident of strong growth in Oct-Mar.

Hero MotoCorp Ltd is currently trading at Rs 3750, down by Rs 66.45 or 1.74% from its previous closing of Rs 3816.45 on the BSE.
The scrip opened at Rs 3745.05 and has touched a high and low of Rs 3803.05 and Rs 3745.05 respectively. So far 138586(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 76217.19 crore.

Hero Moto Corp is the world’s leading two-wheeler manufacturing company. It enjoys market share of 37% in domestic two-wheeler industry and 51% market share in domestic motorcycle market in FY17.

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Solar Industries up 4% after Bagging Rs 11.4 bln Order

Solar Industries India was up 4% at around 10:10 AM today after the company said on Wednesday that it had received a Rs 11.43 billion contract from Coal India.

The contract, to supply 375,412 tn of bulk explosives to subsidiaries of Coal India, is valid for two years and the contract price for bulk explosives will be revised on a quarterly basis. On Wednesday, the stock ended up 0.5% at Rs 1,032.75.

As per the contract, for the period of 2017-18, SIIL will supply 182204 MT explosives valued at Rs 555.52 Cr. And for the year 2018-19, the supply will be 193208 MT explosives, priced at Rs 588.11 Cr. SIIL and the subsidiary hold the rights to increase or decrease the order quantity by up to 40%.

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Bajaj Auto Rides ahead 15% in Exports Sales

bajaj-auto

Bajaj Auto Limited has reported a net increase of 15% in exports to 1.35 lakh units in the October, 2017 as against 1.17 lakh units in October, 2016. This is majorly on account of 20% increase in the export of motorcycles to 1.14 lakh units. Although there has been a dip in exports of commercial vehicles by 7 % to 21,029 units.

The Company has also achieved its highest ever domestic sales of commercial vehicles by 38% increase to 35,657 units in October, 2017 to 25,784 units in October, 2016. There is a minor shrink in domestic sales of motorcycles by 1% to 2.11 lakh units.

Overall, the domestic sales have grown by 4 % to 2.47 lakh units in October, 2017 as against 2.38 lakh units in October, 2016.

The Company’s total sales have increased by 7 % to 3.82 lakh units in October, 2017 as against 3.56 lakh units in October, 2016.

Bajaj Auto Ltd is currently trading at Rs 3252.05, up by Rs 11.55 or 0.36% from its previous closing of Rs 3240.5 on the BSE.

The scrip opened at Rs 3277 and has touched a high and low of Rs 3277 and Rs 3242.45 respectively.

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UFO Moviez India Soars 8% on Merger Talks

UFO Moviez India was up by over 8% after news of merger talks with Qube Cinema Technologies hit the market.

The filing made to the BSE stated that the proposed merger will first demerge the Qube’s business of providing technology solutions and services in the film into Qube Digital, and subsequently merge with UFO Moviez, after certain intermediate steps are approved by the Board of Directors.

The merger ratio stands as per the relative valuation of UFO (63.6%) and Qube Digital (36.4%).

UFO Moviez in a release said, “The Boards of Directors of UFO Moviez India Limited and Qube Cinema Technologies Private Limited, at their meetings held on Nov 1, approved a Composite Scheme of Arrangement and Amalgamation, amongst UFO, Qube, Qube Digital Cinema Private Limited, Moviebuff Private Limited and PJSA Technosoft, pursuant to the provisions of Section 230 to 232 and other relevant provisions of the Companies Act, 2013.”

UFO Moviez India Ltd is currently trading at Rs 474.05, up by Rs 39.85 or 9.18% from its previous closing of Rs 434.2 on the BSE.

The scrip opened at Rs 450 and has touched a high and low of Rs 478.9 and Rs 449 respectively.

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CH Stock Market Opening Bell for 2-November-2017

CH: OPENING BELL:

NIFTY FUTURE DOWN 12 @ 10465

BANK NIFTY FUTURE DOWN 30 @ 25500

SENSEX UP 15 @ 33615

INR 64.47

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International Market Update by Money CapitalHeight

CH: INTERNATIONAL MARKET UPDATE

GOLD $ 1280.74

SILVER $ 17.15

COPPER $ 3.14

CRUDE $ 54.30

INR 64.49

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World Market Update by Money CapitalHeight

CH: WORLD MARKET UPDATE

HANG SENG 26

NIKKEI 38

SHANGHAI -18

DOWJONES 57.77

NASDAQ -11.14

SGX NIFTY -16

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CH Bank Nifty Market Trend for 2-November-2017

CH: BANK NIFTY TREND -BULLISH

BANK NIFTY FUTURE LEVELS

SUPP 1: 25370

SUPP 2: 20885

RES 1:25680

RES 2: 25950

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