Stock to Watch – Today – Supreme Industries Limited

Supreme Industries Limited

Supreme Industries Limited has been trading in a range of Rs 935 and Rs 1000 odd levels for the last couple of weeks. The price has seen a bounce back from the lower levels.

Supreme Industries Limited can be bought in between the level 1045-1050 with a stop loss below 969 and will expect a target of Rs 1090-1125 levels in upcoming days.Stock to Watch : http://moneycapitalheight.blogspot.com/p/stocks-to-watch-today.html

News Highlight

  • GST council may look at reducing tax on third party insurance premium as per the report. The GST council is expected to meet in the next 10 days to consider various contentious issues, including bringing petroleum and aviation fuel under its ambit.
  • The Election Commission of India is preparing to pitch for the mandatory, legally backed, linking of voter IDs with the Aadhaar number.
  • Infosys US Retail sales executive Naresh Ramamurti quits. Naresh Ramamurti, among the three sales leads for retail in the US at Infosys has resigned.

Supreme Industries Limited stock

Market Commentary

Benchmark indices ended the volatile session on positive note on Thursday with Nifty ended below 10,800 levels.

IBULHSGFIN, GRASIM, BAJAJ FINSERV, WIPRO, MARUTI were the top gainers among Nifty 50 stocks while YES BANK,SUN PHARMA,UPL ,TATA STEEL,TCS were the top losers.

Stock to Watch : http://moneycapitalheight.blogspot.com/p/stocks-to-watch-today.html

 

Sun Pharma Gains 2%; To Acquire Biosintez in Russia

sun-pharmaSun Pharmaceuticals Industries Ltd  ended at Rs 703.25, up by Rs 13.5 or 1.96% from its previous closing of Rs 689.75 on the BSE.

The company announced that the Company (including its subsidiaries and/or associate companies), has entered into an agreement to acquire 85.1% of JSC Biosintez, a Russian pharmaceutical company engaged in manufacture and marketing of pharmaceutical products in Russia and the CIS region.

The scrip opened at Rs 696 and has touched a high and low of Rs 704.95 and Rs 690.25 respectively. So far 3211368 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 166005.85 crore.

The BSE group ‘A’ stock of face value Rs 1 has touched a 52 week high of Rs 898 on 23-Feb-2016 and a 52 week low of Rs 572.4 on 09-Nov-2016. Last one week high and low of the scrip stood at Rs 698.95 and Rs 660.1 respectively.

The promoters holding in the company stood at 54.97 % while Institutions and Non-Institutions held 33.34 % and 11.68 % respectively.

The stock is currently trading below its 200 DMA.

Sun Pharmaceuticals Industries Ltd
BSE 701.05 11.30 (1.64%)
NSE 701.30 11.40 (1.65%)
future-premium-call-for-today-capitalheight

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Sun Pharma to acquire Biosintez in Russia

sun-pharmaSun Pharma today announced the execution of definitive agreements by its wholly owned subsidiary, for the acquisition of 85.1% of JSC Biosintez, a Russian pharmaceutical company engaged in manufacture and marketing of pharmaceutical products in Russia and CIS region. The equity consideration for the 85.1% stake is US$ 24 million. Sun Pharma would also assume a debt of approximately US$ 36 million as part of this transaction.

Biosintez is a Russian pharmaceutical company focusing on the hospital segment with annual revenues of approximately US$ 52 million for 2015. It has a manufacturing facility in Penza region with capabilities to manufacture a wide variety of dosage forms including pharmaceuticals for injections, blood substitutes, blood preservatives, ampoules, tablets, ointment, creams, gels, suppositories, APIs, etc.

According to Aalok Shanghvi, Head of Emerging Markets, Sun Pharma, “This acquisition is consistent with Sun Pharma’s philosophy to invest in strategic Emerging Markets. This transaction gives us access to local manufacturing capability across multiple dosage forms in Russia, enabling us to serve the Russia pharmaceutical market more effectively.”

“This is an important milestone for us” said Artur Valiev, Country Head – Sun Pharma, Russia. “The acquisition signifies Sun Pharma’s commitment to Russia and the Russian 2020 plan for localization.”

The transaction, expected to be completed by end of 2016, is subject to approval of the Russian Federal AntiMonopoly Service and other closing conditions.

As per IMS (MAT September 2016), the Russian pharmaceutical market recorded sales of approximately US$ 10 billion. The market recorded a growth of 7.4% in local currency terms as per IMS.

Sun Pharmaceuticals Industries Ltd
BSE 694.45 4.70 (0.68%)
NSE 692.00 2.10 (0.30%)

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Sun Pharma rallies 4.9% after strong Q2 FY17 numbers

sun-pharmaSun Pharmaceuticals Industries Ltd  ended at Rs 699.75, up by Rs 32.8 or 4.92% from its previous closing of Rs 666.95 on the BSE. The company reported an over two-fold jump in its consolidated net profit to Rs 2,235 crore for the September quarter.
The company had posted a net profit after taxes, non controlling interests, share of profit/loss of associates and joint ventures of Rs 1,028.8 crore for the same period a year ago.

Total Income has increased from Rs 6,988.5 crore for the quarter ended September 30, 2015 to Rs 8,384.5 crore for the quarter ended September 30, 2016.

Stock Commentary:
The scrip opened at Rs 691 and has touched a high and low of Rs 708 and Rs 680.2 respectively. So far 6562875 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 160518.46 crore.

The BSE group ‘A’ stock of face value Rs 1 has touched a 52 week high of Rs 898 on 23-Feb-2016 and a 52 week low of Rs 572.4 on 09-Nov-2016. Last one week high and low of the scrip stood at Rs 693.7 and Rs 572.4 respectively.

The promoters holding in the company stood at 54.97% while Institutions and Non-Institutions held 33.34% and 11.68% respectively.

The stock is currently trading below its 200 DMA.

Sun Pharmaceuticals Industries Ltd
BSE 688.95 22 (3.30%)
NSE 688.00 21.80 (3.27%)

Sun Pharma rallies over 5.7% after strong Q2 FY17 numbers

sun-pharmaSun Pharmaceuticals Industries Ltd is currently trading at Rs 705.4, up by Rs 38.45 or 5.77% from its previous closing of Rs 666.95 on the BSE. The company reported an over two-fold jump in its consolidated net profit to Rs 2,235 crore for the September quarter.

The company had posted a net profit after taxes, non controlling interests, share of profit/loss of associates and joint ventures of Rs 1,028.8 crore for the same period a year ago.

Total Income has increased from Rs 6,988.5 crore for the quarter ended September 30, 2015 to Rs 8,384.5 crore for the quarter ended September 30, 2016.

Stock Commentary:

The scrip opened at Rs 691 and has touched a high and low of Rs 708 and Rs 680.2 respectively. So far 6562875 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 160518.46 crore.

The BSE group ‘A’ stock of face value Rs 1 has touched a 52 week high of Rs 898 on 23-Feb-2016 and a 52 week low of Rs 572.4 on 09-Nov-2016. Last one week high and low of the scrip stood at Rs 693.7 and Rs 572.4 respectively.

The promoters holding in the company stood at 54.97% while Institutions and Non-Institutions held 33.34% and 11.68% respectively.

The stock is currently trading below its 200 DMA.

Sun Pharmaceuticals Industries Ltd
BSE 699.55 32.60 (4.89%)
NSE 706.00 39.80 (5.97%)

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Live Stock Market Updates – Sensex, Nifty consolidate gain

sensex

The Indian stock market gained the most in nearly 1-month, following a rebound in Asian markets after their steepest slide since Brexit, on speculation that U.S. President-Elect Donald Trump will pursue business-friendly policies. Nifty Realty index surged 4.5% after losing more than 10% on black money crackdown. Nifty Bank hits 20K for the first time since September 23, 2016.

At 2:11 PM, the S&P BSE Sensex is trading at 27,688, up 436 points, while NSE Nifty is trading at 8,567  up 135 points. The BSE Mid-cap Index is trading up 2.34% at 13,023 whereas BSE Small-cap Index is trading up 2.66% at 13,042.

Tata Steel, Cipla, SBI, Bharti Airtel and Sun Pharma are among the gainers, whereas Infosys, Godrej Properties, Redington and Prestige estates are losing sheen on BSE.

All the BSE sectoral indices were trading in the positive territory. Some buying activity is seen in metal, telecom, auto, banking, basic materials and pharma sectors.

The INDIA VIX is down 8.25% at 15.2475. Out of 1,878 stocks traded on the NSE, 193 declined, 1,396 advanced and 289 remained unchanged today.

A total of 18 stocks registered a fresh 52-week high in trade today, while four stocks touched a new 52-week low on the NSE.

Motherson Sumi Systems rallied 6.5% after the company has posted a net profit of Rs 480 crore for the quarter ended September 30, 2016 as compared to Rs 380 crore for the quarter ended September 30, 2015.

Sun Pharma gained 2.3%.  The pharma company will announce its Q2 numbers today.

Bosch soared 2.5% to Rs 21,800. The company reported a net profit of Rs 704 crore for the second quarter ended September 30, 2016. It had posted a net profit of Rs 393 crore in the same quarter last fiscal.

SAIL climbed 4.8%. SAIL said it has signed a memorandum of understanding (MoU) with South Korean giant Posco for technical collaboration for operational improvements.

Lupin slipped 0.53%. Lupin reported its profit surged 58% from a year ago on strong sales growth in the US, the drugmaker’s biggest market. Net profit at India’s third largest drugmaker rose to Rs 662 crore for the quarter.

Tata Chemicals rallied 3% ahead of Q2 numbers today.

JK Tyre jumped 6% after the company registered a consolidated net profit of Rs 110 crore for the second quarter ended September 30, 2016 on account of growth in sales of passenger radials and agri tyres. It had posted a net profit of Rs 115.8 crore in the same quarter last fiscal.

Cipla soared 6.5%. The company has posted a net profit after taxes, minority interest and share of profit of associates of Rs 354 crore for the quarter ended September 30, 2016 as compared to Rs 543 crore for the quarter ended September 30, 2015.

Godrej Properties dropped 2.7%. The company has posted a net profit after minority interest of Rs 23.5 crore for the quarter ended September 30, 2016 as compared to Rs 103.9 crore for the quarter ended September 30, 2015. Total Income has decreased from Rs 1350 crore for the quarter ended September 30, 2015 to Rs 359 crore for the quarter ended September 30, 2016.

Tata Steel soared 9.6%. The company might be planning to close down the deficit-hit pension fund at the heart of its UK steel crisis, as per media reports.

Bank of India jumped 7.6%. The bank will announce its Q2 numbers today.

Apollo Tyres gained 2%. Apollo Tyres reported a decline of 7% in consolidated net profit at Rs 260.03 crore for the quarter ended September.

Balrampur Chini Mills rallied 2.7%. The company said that the board will consider a proposal for buy back of equity shares of the company on November 15. Shares of the company closed 1.18 per cent up at Rs 115.65.

Narayana Hrudayalaya soared 4%. Narayana Hrudayalaya announced that its board has approved cessation of operation at its unit at Berhampore, West Bengal by selling its entire shareholding in its wholly owned subsidiary, Asia Healthcare Development Ltd, to Lila Hospitals Private Ltd.

UCO Bank soared 8%. The bank reported a net loss of Rs 384.8 crore for the quarter ended September 30, 2016 against a net profit of Rs 156 crore in the same quarter last year.

Snowman Logistics slipped 1.6%. Snowman Logistics its revenue for the quarter declined 15% yoy to Rs 47 cr as revenue from temperature controlled services declined by 10.7%.

The rupee opened lower at 66.39/$ as against the previous close of 66.42/$.

Asian markets opened deep in the green as oversold indices saw short covering coupled with fresh buying as the Dow Jones index touched new highs. This after huge intraday swings with US futures hitting lows of -800 points at one time. Bond yields on the US 10 year paper hit over 2% as optimism on growth with infra spending rising saw the yields near 9 month highs.

The markets have been roiled for some time ever since the chances of a Trump victory surfaced though major bets remained on Hillary who eventually had to concede defeat. For now, Trump’s acceptance speech suggests he has indeed left the campaign ‘trumpisms’ aside and is set to usher in a new world order. The US markets may not have saluted his victory on Wednesday but he is known to be a friend of Wall Street.

Bonds and Gold which saw some smart up move failed to maintain their gains. Banks in India are stepping up activity to help cope with disruption caused by the withdrawal of Rs 500 and Rs 100 currency notes. While a lot of people are finding ways and means to change their high value notes, expectations are that earnings recovery could be pushed a few quarters further.

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Nifty hits 8550, Sensex over 350 pts; Sun Pharma up 3%

Dalal Street CapitalHeight9:45 am Demonetisation: I&B minister M Venkaiah Naidu asked opposition parties to not try scoring “political points” on the Centre’s move to demonetise Rs 500, Rs 1000 notes as it will help in containing inflation, making housing affordable but will hit people like unscrupulous arms dealers. “Apart from curbing corruption and black money, this will bring down inflation, land prices will also get reduced and home buyers will have happy news,” Naidu who is also the minister for Urban Development as well Housing and Urban Poverty Alleviation said at a press conference here.

9:30 am Market outlook: The realty, agriculture and banking sector will greatly benefit from the surprise demonetization carried out by the government on Tuesday, says Rashesh Shah, Chairman & CEO, Edelweiss Financial Services.

There may be many difficulties across several sectors due to this move. But in the medium to long-term, India’s economy will see a deflationary trend. The sudden ban on Rs 500 and Rs 1000 notes helps the government not only crack down on black money, but also counterfeiting of currency, says Shah.

He expects global growth to remain lukewarm with periodic shocks in the global market. Although he adds that he is positive on India and says it is very well insulated from global volitility.

Don’t miss: Upcoming Budget to further simplify tax policies: MoS Finance

The market has opened higher fueled by global market momentum. The Sensex is up 368.97 points or 1.3 percent at 27621.50 and the Nifty is up 114.80 points or 1.4 percent at 8559. About 270 shares have advanced, 25 shares declined, and 3 shares are unchanged.

Sun Pharma, ICICI Bank, Adani Ports and Axis Bank are top gainers, no stock is in red in the Sensex. The Indian rupee opened marginally lower at 66.49 per dollar versus previous close 66.43.

Mohan Shenoi of Kotak Mahindra Bank said, “Trump presidency has triggered volatility in global equity, bond and currency markets. Dollar after initial sell-off rebounded well against major currencies.”

The US dollar rose broadly against its major rivals post trump’s victory. The Mexican Peso plunged to record lows on Wednesday, losing 7.8 percent to trade at 19.79 to the dollar.

Asian shares rebounded and the dollar firmed after global markets made a remarkable comeback from the shock of Republican Donald Trump’s presidential victory, dumping safe-havens for the tempting returns of risk assets.

Analysts were more than a little puzzled by the sharp reversal after global markets plunged initially on Wednesday as Trump swept to power. The Nikkei duly recouped all of Wednesday’s 5 percent loss and more to trade up 6 percent.

MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.7 percent, while Australian stocks soared 3 percent in the largest daily gain since late 2011.

Investors again revised the outlook for US interest rates, with the probability of a December rate hike by the Federal Reserve going from as low as 30 percent to as high as 80 percent.

S&P 500 futures had shed 5 percent at one stage only to stand 1.1 percent higher late in the day.

S&P 500 futures had shed 5 percent at one stage only to stand 1.1 percent higher late in the day.

The Dow jumped 1.4 percent, while the cash S&P 500 and the Nasdaq both added 1.11 percent. Trading volume was the highest since June, when Britain also shocked traders by voting to abandon the European Union. The CBOE Volatility index , a gauge of investor anxiety, fell 23 percent and was on track for its biggest daily drop since late June.

Crude oil prices rose, as US financial markets bounced back from a early Brexit-like slide. Crude had tumbled as much as 4 percent early in the session, in the immediate aftermath of the US presidential election results. US crude tumbled to near USD 43, a near two-month low.

Gold held steady early on Thursday after briefly surging to a six-week high in the previous session, as global markets and the U.S. dollar showed surprise gains in the wake of Republican Donald Trump’s presidential victory.

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