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Lupin jumps after USFDA clears its Goa facility
Nov 07,2016

The announcement was made on Saturday, 5 November 2016.

Meanwhile, the S&P BSE Sensex was up 231.32 points or 0.85% at 27,519.17.

On BSE, so far 56,345 shares were traded in the counter as against average daily volume of 1.13 lakh shares in the past one quarter. The stock hit a high of Rs 1,534.85 and a low of Rs 1,511 so far during the day. The stock had hit a 52-week high of Rs 1,911.55 on 9 February 2016. The stock had hit a 52-week low of Rs 1,294.05 on 29 March 2016.

The large-cap company has equity capital of Rs 90.25 crore. Face value per share is Rs 2.

Lupin announced that it has received notification that the inspection carried out by the United States Food & Drug Administration (USFDA) in March 2016 at its Goa facility is now closed and the agency has issued an Establishment Inspection Report (EIR). This closes all outstanding USFDA inspections at Lupins Goa facility, the company added.

Commenting on the receipt of the EIR, Vinita Gupta, Chief Executive Officer and Nilesh Gupta, Managing Director, Lupin, said the company is committed to ensuring that all systems and processes followed by Lupin are compliant with cGMP and are committed to bringing quality products to market. The company is grateful for the USFDAs confidence in its corrective action plan and in companys team. It is companys goal to remain well ahead on the compliance curve, she added.

Lupins consolidated net profit rose 55.1% to Rs 881.95 crore on 40% growth in net sales to Rs 4313.56 crore in Q1 June 2016 over Q1 June 2015.

Lupin is a pharmaceutical company producing and developing a wide range of branded & generic formulations, biotechnology products and active pharmaceutical ingredients (APIs) globally. The company is a significant player in the cardiovascular, diabetology, asthma, pediatric, CNS, GI, anti-infective and NSAID space and holds global leadership position in the anti-TB segment.

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ITC jumps as GST overhang on tobacco subsides
Nov 04,2016

Meanwhile, the S&P BSE Sensex was down 148.73 points or 0.54% at 27,281.55.

The stock jumped on heavy volumes. On BSE, so far 65.50 lakh shares were traded in the counter as against average daily volume of 10.52 lakh shares in the past one quarter. The stock was volatile. The stock surged as much as 6.51% at the days high of Rs 256 so far during the day. The stock rose 3.2% at the days low of Rs 248.05 so far during the day. The stock had hit a 52-week high of Rs 266 on 8 September 2016. The stock had hit a 52-week low of Rs 178.67 on 29 February 2016. The stock had outperformed the market over the past one month till 3 November 2016, sliding 0.72% compared with 2.88% fall in the Sensex. The scrip had, however, underperformed the market in past one quarter, declining 4.91% as against Sensexs 0.96% fall.

The large-cap company has equity capital of Rs 1211.51 crore. Face value per share is Rs 1.

The GST council approved four main tax slabs 5%, 12%, 18% and 28% under the proposed Goods and Services Tax (GST). The sin or demerits products (tobacco, aerated drinks, pan masala and luxury cars) will be taxed at 28% with additional cess, quantum of which has not been stated/finalised. However, the government has indicated that overall tax incidence on these categories will remain broadly unchanged, reports suggested.

Further, media reports suggested that most analysts are positive on ITC given its sharp underperformance in past months on GST concerns. A foreign brokerage is reportedly overweight on ITC stock stating that some uncertainty will remain on the final taxation change for ITC. It added that the earnings impact on ITC could be gauged only as clarity emerges on quantum and nature of cess on sin products. Another foreign brokerage reportedly increased target price on ITC as it sees 25% upside. ITC is at a big discount to other FMCG stocks due to the overhang of GST, the brokerage reportedly added. As this overhang is lifted, the brokerage expects sharp re-rating for ITC.

ITCs net profit rose 10.5% to Rs 2500.03 crore on 9.6% growth in net sales to Rs 9535.47 crore in Q2 September 2016 over Q2 September 2015.

ITC is a diversified company, with presence in cigarettes, hotels, paperboards & specialty papers, packaging, agri-business, packaged foods & confectionery, information technology, branded apparel, personal care, stationery and other FMCG products. ITC is a market leader in cigarettes.

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Titan declines after reporting Q2 earnings
Nov 04,2016

The result was announced during market hours today, 4 November 2016.

Meanwhile, the S&P BSE Sensex was down 187.45 points or 0.68% at 27,242.83.

On BSE, so far 3.63 lakh shares were traded in the counter as against average daily volume of 96,431 shares in the past one quarter. The stock hit a high of Rs 377.40 and a low of Rs 360 so far during the day. The stock had hit a 52-week low of Rs 303 on 29 February 2016. The stock had hit a 52-week high of Rs 445 on 7 September 2016.

The large-cap company has equity capital of Rs 88.78 crore. Face value per share is Rs 1.

Titans Managing Director Bhaskar Bhat said that Q2 September 2016 was an extremely good quarter for the company with respect to profits. All businesses of the company recorded profits in the quarter. The jewellery business had an extremely good studded jewellery activation and the watches business launched its second smart watch, Juxt Pro. All the companys retail channels grew, Bhat added.

Titan Companys main business lines are watches, jewellery and eyewear.

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Gujarat Pipavav drops after announcing Q2 results
Nov 04,2016

The result was announced during market hours today, 4 November 2016.

Meanwhile, the S&P BSE Sensex was down 212.24 points or 0.77% at 27,218.04.

On BSE, so far 1.20 lakh shares were traded in the counter as against average daily volume of 22,000 shares in the past two weeks. The stock hit a high of Rs 173.95 and a low of Rs 162.10 so far during the day. The stock had hit a 52-week low of Rs 136.60 on 30 December 2015. The stock had hit a 52-week high of Rs 197.35 on 9 September 2016.

The mid-cap company has equity capital of Rs 483.44 crore. Face value per share is Rs 10.

Gujarat Pipavav Ports bottom line in the base quarter (Q2 September 2015) was boosted by a net gain of Rs 60.40 crore. The company had reversed impairment provision amounting to Rs 112.23 crore in Q2 September 2015. Further, it had created a depreciation charge amounting to Rs 51.82 crore, resulting into a net gain of Rs 60.40 crore which had been disclosed as an exceptional item in Q2 September 2015.

Gujarat Pipavav Port is managed and operated by APM Terminals, the ports and terminals company of the maritime giant, the A.P. Moller-Maersk Group.

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Volumes jump at Suyog Telematics counter
Nov 04,2016

Suyog Telematics clocked volume of 3.83 lakh shares by 14:00 IST on BSE, a 227.86-times surge over two-week average daily volume of 2,000 shares. The stock fell 0.18% to Rs 450.

L&T notched up volume of 72.26 lakh shares, a 80.5-fold surge over two-week average daily volume of 90,000 shares. The stock shed 1.94% to Rs 1,416.50 on reports the government is offloading shares of the company via block deal mechanism on the stock exchanges today, 4 November 2016. As per reports, the government proposes to offload up to 3% stake in the company held under Specified Undertaking of the Unit Trust of India (Suuti). Reports added that the base price for the share sale has been set at Rs 1,415.66 per share, about 2% discount to the stocks closing price of Rs 1,444.55 on the BSE yesterday, 3 November 2016. Suuti currently holds 8.14% stake in L&T as per the shareholding pattern as on 30 September 2016.

Ponni Sugars (Erode) saw volume of 2.32 lakh shares, a 31.1-fold surge over two-week average daily volume of 7,000 shares. The stock dropped 4.87% to Rs 242.20.

Sun Pharmaceutical Industries clocked volume of 16.75 lakh shares, a 9.59-fold surge over two-week average daily volume of 1.75 lakh shares. The stock slumped 6.52% to Rs 659.05 after reports suggested that prosecutors at the US Federal Reserve may bring charges of price collusion against a group of generic drugmakers before the end of the year. A report suggested that the US Department of Justice had started the investigation two years ago, and the list included a dozen drug companies such as Sun Pharmaceutical Industries, Taro Pharmaceutical Industries and Mylan. Charges could come up as early as December 2016, it added.

Moschip Semiconductor Technology saw volume of 15.81 lakh shares, a 6.91-fold rise over two-week average daily volume of 2.29 lakh shares. The stock declined 3.53% to Rs 43.70.

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Tube Investments shrugs off strong quarterly earnings
Nov 04,2016

The result was announced after market hours yesterday, 3 November 2016.

Meanwhile, the S&P BSE Sensex was down 115.92 points or 0.42% at 27,314.36.

On BSE, so far 18,000 shares were traded in the counter as against average daily volume of 12,000 shares in the past two weeks. The stock hit a high of Rs 675 and a low of Rs 612.50 so far during the day. The stock had hit a record high of Rs 685 yesterday, 3 November 2016. The stock had hit a 52-week low of Rs 352 on 25 February 2016.

Tube Investments of Indias (TIIL) revenue rose 2% to Rs 1062 crore in Q2 September 2016 over Q2 September 2015. Other income spurted 104.78% to Rs 18.41 crore in Q2 September 2016 over Q2 September 2015.

L. Ramkumar, Managing Director of TIIL, said that, during Q2 September 2016, the auto industry registered a growth of 11% in the passenger vehicles and 14% in the two-wheeler segments. The companys export turnover grew by 72% over corresponding quarter in the previous year.

Tube Investments of India is primarily engaged in the production of steel tubes, cold rolled steel strips and metal sections, as well as bicycles and all critical bicycle components. Its unit TI Cycles is a leading bicycle maker in India.

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Colgate-Palmolive surges on foreign brokerage upgrade
Nov 04,2016

Meanwhile, the S&P BSE Sensex was down 78.74 points or 0.29% at 27,351.54.

On BSE, so far 1.78 lakh shares were traded in the counter as against average daily volume of 30,907 shares in the past one quarter. The stock hit a high of Rs 1,031.60 and a low of Rs 972 so far during the day. The stock had hit a 52-week high of Rs 1,032.85 on 8 August 2016. The stock had hit a 52-week low of Rs 787.60 on 24 May 2016. The stock had underperformed the market over the past one month till 3 November 2016, sliding 3.23% compared with 2.88% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 1.41% as against Sensexs 0.96% fall.

The large-cap company has equity capital of Rs 27.20 crore. Face value per share is Rs 1.

Colgate-Palmolive (India)s net profit rose 15.6% to Rs 181.31 crore on 9.4% growth in net sales to Rs 1048.32 crore in Q2 September 2016 over Q2 September 2015.

Colgate-Palmolive (India) makes oral care products.

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Coal India declines on reports of foreign brokerage underperform rating
Nov 04,2016

Meanwhile, the S&P BSE Sensex was down 48.26 points or 0.18% at 27,382.02.

On BSE, so far 7.86 lakh shares were traded in the counter as against average daily volume of 4.41 lakh shares in the past two weeks. The stock hit a high of Rs 327.05 and a low of Rs 314.10 so far during the day. The stock had hit a 52-week high of Rs 349.85 on 17 August 2016. The stock had hit a 52-week low of Rs 272.05 on 12 April 2016. The stock had outperformed the market over the past one month till 3 November 2016, sliding 0.34% compared with 2.88% fall in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 0.17% as against Sensexs 0.96% fall.

The large-cap company has equity capital of Rs 6316.36 crore. Face value per share is Rs 10.

Coal Indias consolidated net profit fell 14.8% to Rs 3065.28 crore on 6.1% decline in net sales to Rs 17796.05 crore in Q1 June 2016 over Q1 June 2015.

State-run Coal India is Indias biggest coal miner. The Government of India currently holds 79.65% stake in Coal India (as per the shareholding pattern as on 30 September 2016).

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NMDC drops after keeping iron ore prices unchanged for November
Nov 04,2016

The announcement was made after market hours yesterday, 3 November 2016.

Meanwhile, the BSE Sensex was down 92.34 points, or 0.34%, to 27,337.94.

On BSE, so far 3.97 lakh shares were traded in the counter, compared with average daily volume of 3.85 lakh shares in the past one quarter. The stock hit a high of Rs 134.80 and a low of Rs 125.60 so far during the day. The stock hit a 52-week high of Rs 142.65 on 2 November 2016. The stock hit a 52-week low of Rs 75.20 on 12 February 2016. The stock had outperformed the market over the past one month till 3 November 2016, advancing 22.96% compared with 2.88% fall in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 33.08% as against Sensexs 0.96% fall.

The large-cap company has equity capital of Rs 316.39 crore. Face value per share is Re 1.

NMDC announced that it has kept unchanged price of lump iron ore at Rs 2,100 per wet metric tonne and price of fines iron ore at Rs 1,760 per wet metric tonne with effect from 3 November 2016, compared with their respective prices in October.

Net profit of NMDC declined 29.9% to Rs 711.34 crore on 4.7% decline in net sales to Rs 1720.65 crore in Q1 June 2016 over Q1 June 2015.

NMDC is Indias largest public sector iron ore producer. As per the shareholding pattern, Government of India (GoI) holds 74.94% stake in NMDC as on 14 October 2016.

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L&T drops amid Govts stake-sale reports
Nov 04,2016

Meanwhile, the S&P BSE Sensex was down 99.34 points or 0.36% at 27,330.94.

Heavy volumes were witnessed on the counter. On BSE, so far shares were traded in the counter as against average daily volume of 71.51 lakh shares in the past two weeks. The stock hit a high of Rs 1,434 and a low of Rs 1,397 so far during the day. The stock had hit a 52-week high of Rs 1,615 on 27 July 2016. The stock had hit a 52-week low of Rs 1,016.60 on 12 February 2016. The stock had outperformed the market over the past one month till 3 November 2016, sliding 1.72% compared with 2.88% fall in the Sensex. The scrip had, however, underperformed the market in past one quarter, declining 2.25% as against Sensexs 0.96% fall.

The large-cap company has equity capital of Rs 186.47 crore. Face value per share is Rs 2.

Reports suggested that the government is selling stake in L&T via block deal mechanism on the stock exchanges today, 4 November 2016. As per reports, the government proposes to offload up to 3% stake in the company held under Specified Undertaking of the Unit Trust of India (Suuti). Reports added that the base price for the share sale has been set at Rs 1,415.66 per share, about 2% discount to the stocks closing price of Rs 1,444.55 on the BSE yesterday, 3 November 2016.

Suuti currently holds 8.14% stake in L&T as per the shareholding pattern as on 30 September 2016.

L&Ts consolidated net profit rose 45.5% to Rs 609.60 crore on 9.3% growth in net sales to Rs 21718.61 crore in Q1 June 2016 over Q1 June 2015.

L&T is a major Indian multinational engaged in technology, engineering, construction, manufacturing and financial services. It operates in more than 30 countries worldwide.

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Pharma stocks slump on reports of investigation by US Department of Justice
Nov 04,2016

Meanwhile, the S&P BSE Sensex was down 83.76 points or 0.31% to 27,346.14.

Glenmark Pharmaceuticals (down 5.24%), Aurobindo Pharma (down 2.96%), Strides Shasun (down 4.24%), Cipla (down 1.4%), Dr Reddys Laboratories (down 4.72%), Cadila Healthcare (down 3.57%), Lupin (down 3.87%), Divis Laboratories (down 1.8%), and Sun Pharmaceutical Industries (down 6.03%) declined.

A report suggested that the US Department of Justice had started the investigation two years ago, and the list included a dozen drug companies such as Sun Pharmaceutical Industries, Taro Pharmaceutical Industries and Mylan. Charges could come up as early as December 2016, it added.

Generic drugs are supposed to keep healthcare costs down. But the US government may claim that these companies worked together to keep prices higher instead of allowing market competition to set pricing, report noted.

The BSE Healthcare index had underperformed the market over the past one month till 3 November 2016, falling 4.06% compared with 2.88% fall in the Sensex. The index had also underperformed the market in past one quarter, dropping 1.91% as against Sensexs 0.96% fall.

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Esab India gains after stellar Q2 outcome
Nov 04,2016

The result was announced after market hours yesterday, 3 November 2016.

Meanwhile, the S&P BSE Sensex was down 49.09 points or 0.18% at 27,381.19

On BSE, so far 2,964 shares were traded in the counter as against average daily volume of 432 shares in the past one quarter. The stock hit a high of Rs 658.90 and a low of Rs 630 so far during the day. The stock had hit a 52-week high of Rs 674 on 22 March 2016. The stock had hit a 52-week low of Rs 435 on 17 February 2016.

The small-cap company has equity capital of Rs 15.39 crore. Face value per share is Rs 10.

Esab India is one of the leading suppliers of welding and cutting products in the country.

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Magma Fincorp tumbles after subdued Q2 numbers
Nov 04,2016

The result was announced after market hours yesterday, 3 November 2016.

Meanwhile, the S&P BSE Sensex was down 58.10 points or 0.21% at 27,372.18.

On BSE, so far 2.49 lakh shares were traded in the counter as against average daily volume of 1.08 lakh shares in the past two weeks. The stock hit a high of Rs 114.90 and a low of Rs 95.65 so far during the day. The stock had hit a 52-week high of Rs 125.80 on 10 October 2016. The stock had hit a 52-week low of Rs 67 on 3 February 2016. The stock had outperformed the market over the past one month till 3 November 2016, advancing 8.47% compared with 2.88% fall in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 9.14% as against Sensexs 0.96% fall.

The small-cap company has equity capital of Rs 47.39 crore. Face value per share is Rs 2.

The companys bottom line during Q2 September 2016 was boosted by surge in non-operational income. Other income jumped 60.42% to Rs 15.85 crore in Q2 September 2016 over Q2 September 2015.

Commenting on the companys performance, Sanjay Chamria, Vice Chairman and MD, Magma Fincorp said that the company has exhibited resilience in its performance despite the industry odds still not favourable. Magma expects better results with an improving rural economy going forward in the second half of the current financial year (FY 2017), added Chamria.

Magma Fincorp has announced a change in its top management team. Atul Bansal, chief financial officer (CFO) of the company has resigned to pursue other opportunities. The board has appointed Kailash Baheti, working with the company as chief strategy officer as the new CFO.

Magma provides a bouquet of financial products including commercial finance, agri finance, SME finance and mortgage finance and has a general insurance subsidiary.

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Berger Paints gains after good Q2 results
Nov 04,2016

The result was announced after market hours yesterday, 3 November 2016.

Meanwhile, the S&P BSE Sensex was down 19.64 points or 0.07% at 27,410.64.

On BSE, so far 78,000 shares were traded in the counter as against average daily volume of 52,000 shares in the past two weeks. The stock hit a high of Rs 270 and a low of Rs 262 so far during the day. The stock had hit a record high of Rs 276.80 on 12 September 2016. The stock had hit a 52-week low of Rs 152.86 on 14 December 2015.

The large-cap company has equity capital of Rs 97.10 crore. Face value per share is Rs 1.

The bottom line in Q2 September 2016 was boosted by Rs 44.20 crore on account of profit from sale of business to Berger Nippon Paint Automotive Coatings, a joint venture company in which Berger Paints India holds 49% of the paid-up capital.

Berger Paints India manufactures and markets a range of decorative and industrial paint products and has operations throughout India.

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Bharti Airtel slips amid initial volatility
Nov 04,2016

The announcement was made after market hours yesterday, 3 November 2016.

Meanwhile, the S&P BSE Sensex was down 31.68 points or 0.12% at 27,398.60.

On BSE, so far 9,100 shares were traded in the counter as against average daily volume of 1.67 lakh shares in the past two weeks. The stock hit a high of Rs 310.70 and a low of Rs 306.35 so far during the day. The stock had hit a 52-week high of Rs 384.90 on 28 April 2016. The stock had hit a 52-week low of Rs 282.30 on 29 January 2016.

The large-cap company has equity capital of Rs 1998.70 crore. Face value per share is Rs 5.

Bharti Airtel International (Netherlands) BV (Airtel) and Zain Telecom (Zain) have reached an agreement, pursuant to which Zain is to pay to Airtel about $129 million for the settlement of all of Airtels claims on account of the Nigeria Litigation, certain tax matters and associated legal costs. Under the terms of the 2010 share sale/purchase agreement, Zain had provided Airtel certain indemnities covering the Nigeria Litigation and for certain tax claims. A separate settlement has been reached between Airtel and Econet Wireless settling all claims, disputes whatsoever, between the two including in Nigeria and Netherlands. With these settlements, Airtel has closed several ongoing major litigations in Nigeria, UK and Netherlands.

On a consolidated basis, Bharti Airtels net profit fell 4.9% to Rs 1460.70 crore on 3.4% growth in net sales to Rs 24651.50 crore in Q2 September 2016 over Q2 September 2015.

Bharti Airtel is a leading global telecommunications company with operations in 18 countries across Asia and Africa.

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