CH Stock Market Closing Bell for 6-Nov-2017

closing bell

Closing bell

CH CLOSING BELL:

NIFTY FUTURE DOWN 7 @ 10479

BANK NIFTY FUTURE DOWN 81 @ 25587

SENSEX DOWN 1 @ 33683

INR 64.68

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Sensex Gains 100 pts, Nifty Inches towards 10,500

Buzzing: Reliance Nippon Life Asset Management share price was trading at Rs 290.70 per share on the National Stock Exchange, higher by 15.35 percent over issue price of Rs 252.

Green nod: The Centre today gave green nod to Torrent Pharmaceuticals’ proposal to establish a bulk drug manufacturing unit in Gujarat with an investment of Rs 300 crore, as per an official document.

The Union Environment Ministry issued the environment clearance certificate for the proposed project saying that the approval has been given with certain riders.

The Ahmedabad-based firm’s unit will cover 57,737 sq mt area in Kalol taluk. It would have a production capacity of 21,415 tonnes per annum. The project is estimated to cost about Rs 300 crore and is expected to provide employment to 100 persons, as per the document.

Results: Nelcast hits fresh 52-week high of Rs 92 today after profit grew by 27.4 percent year-on-year to Rs 10 crore and revenue increased 28.2 percent to Rs 179.6 crore in Q2.

Earnings: Welspun Corp has reported consolidated net profit of Rs 40.4 crore in Q2FY18 against loss of Rs 34.8 crore in year-ago.

Revenue grew by 71.5 percent year-on-year to Rs 2,006 crore while EBITDA (earnings before interest, tax, depreciation and amortisation) jumped nearly 3 times to Rs 185.4 crore from Rs 69.2 crore and margin expanded by 330 basis points to 9.2 percent YoY.

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Varun Beverages Posts Rs 34 cr Profit

PepsiCo’s largest franchise bottler Varun Beverages today reported over two-fold jump in its consolidated net profit to Rs 33.7 crore for the September quarter.

The company had posted a net profit of Rs 12.9 crore during the same period of the previous fiscal, Varun Beverages said in a regulatory filing.

The equity shares of the company were listed on Bombay Stock Exchange and National Stock Exchange with effect from November 8, 2016.

The company said the results for the comparative periods presented have been restated to comply with Indian Accounting Standards to make them comparable.

Total income during the quarter stood at Rs 990.9 crore. It was Rs 1,055.7 crore in the July-September period last fiscal.

The company’s stock was trading 3.15 per cent up at Rs 524.15 apiece on BSE today.

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Sensex, Nifty Trading Flat, Oil&Gas Sector Plunges

Market Flat

Nifty and Sensex trading lower with Oil & Gas and Metal indices dragging the market down. Strong buying seen in Auto, Reality, and Consumer durables, while Infibeam leads the IT sector by gaining over 14%.

At 11:45AM, the S&P BSE Sensex is trading at 33,681, down by 4 points, while NSE Nifty is trading at 10,445 down by 7 points.

The BSE Mid-cap Index is trading up by 0.55% at 16,804.79 whereas BSE Small-cap Index is trading up by 0.63% at 17,968.05.

Infratel, Mahindra & Mahindra, Aurobindo Pharma, Maruti, and ONGC are among the gainers, whereas Kotak Mahindra Bank, Bharti Airtel, Indian Oil, HPCL, and BPCL are losing steam on NSE.

Some buying seen in Auto, Reality and Consumer Durables sectors, whereas Energy, Finance, Telecom, Metals, and Oil & Gas sectors show weakness on the BSE.

The India Vix is up by 6.42% at 12.67.

Out of 2,004 stocks traded on the NSE, 959 advanced, 677 declined, and 368 remained unchanged today.

A total of 92 stocks registered a fresh 52-week high in trade today, while 14 stocks touched a new 52-week low on the NSE.

Coal India: Authorities issued show cause notices for Rs 20,169 cr to Mahanadi coal fields.
Capacite Infra bags order worth Rs 825 Cr. Stock up 4%.
M&M shares up 3% as company to mull issue of bonus shares on Friday.
Titan Co shares up 15% as Jul-Sep consol PAT rises 68% on YoY.
Natco Pharma buys 7.5% stake in OMRV Hospitals for Rs 75 mn.
UCO Bank shares down 3% as Jul-Sep net loss widens on YoY.
Shipping Corp shares down 6% as Jul-Sept net loss widens on year.

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Unichem stock opens up 11.7%

Unichem stock opened up 11.7% on Monday, November 06 2017 after the company announced on the exchanges that it has finalized the sale and transfer of its domestic formulation business in India and Nepal to Torrent Pharma for total consideration of Rs 3,600 Cr. The transferred business will include the portfolio of several brands in India and Nepal, manufacturing facility at Sikkim and employees performing work related to the transferred business.

Post the completion of the transaction, the facilities that will continue to remain with Unichem include Formulations plants (Goa, Ghaziabad, and Badd) and API plants (Roha & Kolhapur, Pithampur and R&D Complex in Goa).

The company stated that it intends to use the proceeds to grow its international business, increase investments in R&D and rewarding its shareholders which may be via one time higher dividend payment.

Unichem had shown significant improvement in the export formulations business in FY17 aided by increase in market share of products launched in US market. Most of the company’s facilities are approved by the USFDA and the company can use the proceeds for increasing the number of filling and its presence in US.

Unichem Laboratories Ltd is currently trading at Rs 321.1, up by Rs 7.8 or 2.49% from its previous closing of Rs 313.3 on the BSE. The scrip opened at Rs 350.25 and has touched a high and low of Rs 350.25 and Rs 317.55 respectively. The current market cap of the company is Rs 2848.5 crore.The stock is currently trading above its 200 DMA.

Torrent Pharmaceuticals Ltd is currently trading at Rs 1336.35, up by Rs 21.05 or 1.6% from its previous closing of Rs 1315.3 on the BSE. The scrip opened at Rs 1349.9 and has touched a high and low of Rs 1365.45 and Rs 1327.95 respectively. The stock is currently trading above its 200 DMA.

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Reliance Nippon AMC Lists at 17% Premium

The equity shares of Reliance Nippon Life Asset Management Ltd (RNAM) were listed today on both the NSE and the BSE. The stock listed at Rs 295.9, a premium of Rs 43.9 or 17.4% (on the upper band of the IPO price of Rs. 252). RNAM was admitted to dealings on the BSE in the list of ‘B’ Group Securities. The stock codes for RNAM on the BSE and NSE respectively are 540767 and RNAM.

RNAM is an India based asset management company. Company is promoted by Reliance Capital Limited and Nippon Life.

Reliance Capital is an RBI registered non-banking finance company with business interests in asset management and mutual funds, life, health and general insurance, commercial and home finance, stock broking, wealth management services, and distribution of financial products, asset reconstruction and proprietary investments.

Nippon Life Insurance Company, one of the leading private life insurers in Japan is the co-promoter of the company. Nippon Life offers a wide range of financial products, including individual and group life and annuity policies. Company has assets of over USD 577 billion.

Reliance Nippon Life is involved in managing Mutual funds (including ETFs); Managed accounts, including portfolio management services, alternative investment funds (AIFs) and pension funds; as well as offshore funds and advisory mandates.

The company manages 55 open-ended mutual fund schemes including 16 ETFs and 174 closed ended schemes. Company has a network of 171 branches and over 58,000 distributors including banks, financial institutions, national distributors and independent financial advisors as of June 30, 2017.

The IPO issue was for 6.12 Cr equity shares aggregating up to Rs 1,542.24 Cr. It consisted of a fresh issue of 2.448 Cr equity shares aggregating up to Rs 616.9 Cr and an offer for sale of 3.672cr equity shares aggregating up to Rs 925.3 Cr (based on subscription at the upper band of the IPO).

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Natco Pharma Invests Rs 75 Millions in PACE Hospitals

The company, as per its filing on November 4, 2017 in BSE, has executed a definitive agreement and subscribed to 7.5% of the paid-up equity share capital of PACE Hospitals (OMRV Hospitals Private Ltd.). The investment amount for the subscription is Rs 75 millions.

OMRV operates under brand name of PACE Hospital which is a super specialty hospital presently operating in Hyderabad, Telangana focused on tertiary care services in the field of Medical and Surgical Gastroenterology, Hepatology, Nephrology, Urology, GI Oncology and Andrology.

The company, on November 2, 2017, reported a consolidated revenue for the quarter came in at Rs 426.7 crore, registering 8.8% yoy decline.

EBITDA for the quarter rose by 16.3% yoy to Rs 121.9 crore with a corresponding margin expansion of 617 bps. EBITDA margin for the quarter stood at 28.6%. This margin expansion was aided by 42.6% decline in its material costs. The PAT for the quarter came in at Rs. 84.4 crore, yoy increase of 27.5%.

The Stock is currently trading at a price of Rs 966, up by Rs 9 or 0.95% at 10.14 am. The Promoters hold 51.19% stake in the company.

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CH Stock Market Opening Bell for 6-Nov-2017

Opening bell

CH OPENING BELL:

NIFTY FUTURE DOWN 35 @ 10451

BANK NIFTY FUTURE DOWN 65 @ 25603

SENSEX UP 24 @ 33710

INR 64.68

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International Market Update by Money CapitalHeight

INTERNATIONAL MARKET UPDATE

GOLD $ 1270.38

SILVER $ 16.86

COPPER $ 3.14

CRUDE $ 55.76

INR 64.65

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World Market Update by Money CapitalHeight

WORLD MARKET UPDATE

HANG SENG -338

NIKKEI 47

SHANGHAI -9

DOWJONES 22.93

NASDAQ 49.49

SGX NIFTY -59

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