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Yes Bank gains after reporting strong Q2 results
Oct 20,2016

The result was announced during market hours today, 20 October 2016.

Meanwhile, the S&P BSE Sensex was up 133.06 points or 0.48% at 28,117.43.

On BSE, so far 1.73 lakh shares were traded in the counter as against average daily volume of 2.72 lakh shares in the past one quarter. The stock hit high of Rs 1,320 and low of Rs 1,298.50 so far during the day. The stock had hit a record high of Rs 1,450 on 7 September 2016. The stock had hit a 52-week low of Rs 632.25 on 20 January 2016. The stock had outperformed the market over the past one month till 19 October 2016, rising 9.66% compared with 2.27% fall in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 11.98% as against Sensexs 0.71% rise.

The large-cap bank has equity capital of Rs 422.28 crore. Face value per share is Rs 10.

Yes Bank is one of the leading private sector banks in India.

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Sadbhav Infra gains after receiving completion certificate for two check posts
Oct 20,2016

The announcement was made during market hours today, 20 October 2016.

Meanwhile, the BSE Sensex was up 123.35 points, or 0.44%, to 28,107.72.

On BSE, so far 10,703 shares were traded in the counter, compared with an average volume of 70,700 shares in the past one quarter. The stock hit a high of Rs 112.60 and a low of Rs 106.85 so far during the day. The stock hit a record high of Rs 120.40 on 22 September 2016. The stock hit a record low of Rs 66.30 on 15 February 2016. The stock had outperformed the market over the past one month till 19 October 2016, rising 2.38% compared with 2.27% fall in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 6.8% as against Sensexs 0.71% rise.

The mid-cap company has equity capital of Rs 352.23 crore. Face value per share is Rs 10.

Sadbhav Infrastructure Project said that with the receipt of these certificates, Maharashtra Border Check Post Network (MBCPNL), a subsidiary of the company and a special purpose vehicle incorporated for the project of construction, operation and maintenance and modernisation and computerization of integrated border check posts received provisional/final certificate for 18 check posts out of which 13 check posts have started generating revenue. The construction work is at an advanced stage for balance 6 check posts.

Sadbhav Infrastructure Project reported consolidated net loss of Rs 89.46 crore in Q1 June 2016 compared with net loss of Rs 88.34 crore in Q1 June 2015. Net sales fell 33.3% to Rs 361.70 crore in Q1 June 2016 over Q1 June 2015.

Sadbhav Infrastructure Project is into development, operation and maintenance of road infrastructure assets. It undertakes turnkey contractual works and other than civil construction of the projects.

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Ashoka Buildcon gains after receipt of letters of intent
Oct 20,2016

The announcement was made after market hours yesterday, 19 October 2016.

Meanwhile, the S&P BSE Sensex was up 121.13 points, or 0.43%, to 28,105.50

On BSE, so far 22,000 shares were traded in the counter, compared with an average volume of 65,927 shares in the past one quarter. The stock hit a high of Rs 172.35 and a low of Rs 168.75 so far during the day. The stock hit a record high of Rs 211.90 on 23 December 2015. The stock hit a 52-week low of Rs 111 on 7 April 2016. The stock had outperformed the market over the past 30 days till 19 October 2016, falling 1.07% compared with 1.89% decline in the Sensex. The scrip, however, underperformed the market in past one quarter, gaining 0.18% as against Sensexs 0.99% rise.

The mid-cap company has an equity capital of Rs 93.57 crore. Face value per share is Rs 5.

Ashoka Buildcon said that the company has received letters of intent (LOIs) from Dakshinanchal Vidyut Vitran Nigam (DVVNL) for execution of work on rural electrification on turnkey basis under Deen Dayal Upadhyaya Gram Jyoti Yojana (DDUGJY) scheme, a Government of India scheme on behalf of DVVNL/Government of Uttar Pradesh for Aligarh and Kanpur zones. The aggregate accepted bid value of the projects is Rs 178.66 crore.

On a consolidated basis, Ashoka Buildcons net profit dropped 32.72% to Rs 30.82 crore on 4.36% fall in total income to Rs 476.52 crore in Q1 June 2016 over Q1 June 2015.

Ashoka Buildcon is a leading highway concessionaire and engineering, procurement and construction (EPC) company.

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Suzlon Energy gains after entering into joint ventures for solar projects
Oct 20,2016

The announcement was made after market hours yesterday, 19 October 2016.

Meanwhile, the S&P BSE Sensex was up 170.29 points or 0.61% at 28,154.66.

On BSE, so far 33.69 lakh shares were traded in the counter as against average daily volume of 37.9 lakh shares in the past one quarter. The stock hit a high of Rs 15.35 and a low of Rs 15 so far during the day. The stock had hit a 52-week high of Rs 25.25 on 2 November 2015. The stock had hit a 52-week low of Rs 12.80 on 12 February 2016. The stock had underperformed the market over the past one month till 19 October 2016, falling 8.36% compared with 2.27% fall in the Sensex. The scrip had also underperformed the market in past one quarter, declining 17.32% as against Sensexs 0.71% rise.

The mid-cap company has equity capital of Rs 1004.88 crore. Face value per share is Rs 2.

Suzlon Group announced a joint venture with the Unisun Energy Group for the development and construction of a 15 megawatts (MW) Solar PV Project located at Bhainsa, Adilabad District, Telangana.

According to the contract signed between Suzlon Group and the Unisun Energy Group on 22 August 2016, the Unisun Energy Group shall acquire a 49% stake in Vayudoot Solarfarms Limited, a special purpose vehicle (SPV) set-up by Suzlon for executing this project. The stake will be acquired for a cash consideration of Rs 13.46 crore. Unisun Energy has the option to acquire the balance of the 51% stake in the SPV in the future in accordance with the relevant rules and regulations. The off-taker of the Vayudoot project will be the Telangana State Northern Power Distribution Company Limited (TSNPDCL) for 25 years with a tariff of Rs 5.51 per kWh. Suzlon will be responsible for project commissioning and to provide comprehensive operation and maintenance services for a period of 25 years. The project is expected to be commissioned in the financial year 2017 (FY 2017).

Separately, Suzlon Group announced a joint venture with Canadian Solar, one of the worlds largest solar energy companies, for two solar projects of 15 MW each at the sites of Ramannapet and Kamareddy, Telangana. Canadian Solar shall acquire 49% stake in Avighna Solarfarms Limited and Amun Solarfarms Limited, the special purpose vehicles (SPVs) setup by Suzlon for executing these projects. The stake will be acquired for a combined cash consideration of Rs 26.42 crore.

Canadian Solar shall provide its top tier solar PV modules, arrange project financing and contribute its technology expertise to ensure the commissioning of these projects in the financial year 2017 (FY 2017). The offtaker of Ramannapet project will be Telangana Southern Power Distribution Company Limited and for Kamareddy project will be Telangana Northern Power Distribution Company Limited. Suzlon will be responsible for project commissioning and to provide comprehensive operation and maintenance services for a period of 25 years.

Suzlon won solar projects of 210 MW in Telangana through a competitive bidding process and the PPAs for the same were signed in February, 2016. These include one project of 100 MW, one of 50 MW and four projects of 15 MW each.

On a consolidated basis, Suzlon Energy reported net loss of Rs 259.97 crore in Q1 June 2016 compared with net profit of Rs 1014.34 crore in Q1 June 2015. Net sales declined 36.2% to Rs 1649.58 crore in Q1 June 2016 over Q1 June 2015.

The Suzlon Group is one of the leading renewable energy solutions providers in the world with an international presence across 19 countries. The company has recently forayed into the solar space.

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CEAT advances after announcing launch of puncture safe tyres
Oct 20,2016

The announcement was made after market hours yesterday, 19 October 2016.

Meanwhile, the S&P BSE Sensex, was currently up 194.60 points or 0.7% at 28,178.97

On BSE, so far 55,000 shares were traded in the counter, compared with average daily volume of 1.41 lakh shares in the past one quarter. The stock hit a high of Rs 1,311 and low of Rs 1,282.70 so far during the trading session. The stock had hit record high of Rs 1,422 on 6 October 2016. The stock had hit 52-week low of Rs 731.20 on 24 June 2016. The stock had outperformed the market over the past 30 days till 19 October 2016, rising 13.34% compared with 1.89% decline in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 46.6% as against Sensexs 0.99% rise.

The mid-cap company has equity capital of Rs 40.45 crore. Face value per share is Rs 10.

CEAT announced rollout of a new breed of Puncture Safe tyres for the two wheeler market. This new range will offer a technology to consumers that will allow tyres to resist punctures with no loss of air pressure and allow a hassle free and safe ride, CEAT said. This new range is currently available only in the states of Andhra Pradesh and Telangana and the company proposes to roll out the Puncture Safe tyre range in the other markets in a phased manner, the company said.

CEATs consolidated net profit fell 14.5% to Rs 104.06 crore on 4.04% increase in net sales to Rs 1460.92 crore in Q1 June 2016 over Q1 June 2015.

CEAT is one of Indias leading tyre manufacturers. The company sells its tyres under the CEAT brand.

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Bayer CropScience drops after declaring muted Q2 result
Oct 20,2016

The result was announced after market hours yesterday, 19 October 2016.

Meanwhile, the S&P BSE Sensex was up 189.31 points, or 0.68%, to 28,173.68

On BSE, so far 948 shares were traded in the counter, compared with an average volume of 4,553 shares in the past one quarter. The stock hit a high of Rs 4,521.45 and a low of Rs 4,377 so far during the day. The stock hit a record high of Rs 4,627 on 3 October 2016. The stock hit a 52-week low of Rs 3,115 on 12 February 2016. The stock had outperformed the market over the past 30 days till 19 October 2016, rising 10.19% compared with 1.89% decline in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 19.77% as against Sensexs 0.99% rise.

The large-cap company has an equity capital of Rs 35.35 crore. Face value per share is Rs 10.

Bayer CropScience has presence in seeds, crop protection and non-agricultural pest control. It is organized into operating units: crop protection, seeds and environmental science.

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Good Q2 result catapults RBL Bank to new high
Oct 20,2016

The result was announced after market hours yesterday, 19 October 2016.

Meanwhile, the S&P BSE Sensex was up 167.02 points or 0.6% at 28,151.39.

High volumes were witnessed on the counter. On BSE, so far 23.86 lakh shares were traded in the counter as against average daily volume of 2.47 lakh shares in the past one month. The stock hit a high of Rs 334.60 so far during the day, which is record high for the stock. The stock hit a low of Rs 317.15 so far during the day. The stock had hit a record low of Rs 273.70 on 31 August 2016. The stock had outperformed the market over the past one month till 19 October 2016, gaining 3.77% compared with 2.27% fall in the Sensex.

The large-cap bank has equity capital of Rs 369.81 crore. Face value per share is Rs 10.

RBL Banks gross non-performing assets (NPAs) stood at Rs 274.65 crore as on 30 September 2016 as against Rs 252.61 crore as on 30 June 2016 and Rs 161.61 crore as on 30 September 2015. The ratio of gross NPAs to gross advances stood at 1.1% as on 30 September 2016 as against 1.13% as on 30 June 2016 and 0.93% as on 30 September 2015.

The ratio of net NPAs to net advances stood at 0.55% as on 30 September 2016 as against 0.65% as on 30 June 2016 and 0.48% as on 30 September 2015. The banks provisions and contingencies (excluding tax provisions) rose 122.33% to Rs 49.58 crore in Q2 September 2016 over Q2 September 2015.

Net Interest Income (NII) rose 59.5% to Rs 302.94 crore in Q2 September 2016 over Q2 September 2015. Net interest margin (NIM) rose to 3.41% in Q2 September 2016 as against 2.99% in Q2 September 2015.

RBL Bank debuted on stock exchanges on 31 August 2016.

RBL Bank is professionally managed and has no identifiable promoter.

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Quess Corp gains on strong Q2 results, acquisitions
Oct 20,2016

The result was announced after market hours yesterday, 19 October 2016.

Meanwhile, the S&P BSE Sensex was up 205.61 points, or 0.73%, to 28,189.98.

On BSE, so far 37,142 shares were traded in the counter, compared with an average daily volume of 1.24 lakh shares in the past one quarter. The stock hit a high of Rs 625 and a low of Rs 609 so far during the day. The stock hit a record high of Rs 651.25 on 4 August 2016. The stock hit a record low of Rs 452.40 on 14 July 2016. The stock had outperformed the market over the past one month till 19 October 2016, gaining 9.71% compared with 2.27% fall in the Sensex. The scrip had also outperformed the market in past one quarter, rising 20.5% as against Sensexs 0.71% rise.

The stock was listed on the bourses on 12 July 2016.

The mid-cap company has equity capital of Rs 126.75 crore. Face value per share is Rs 10.

Quess Corps earnings before interest, taxes, depreciation and amortization (EBITDA) margin increased to 5.4% in Q2 September 2016 from 5.3% in Q1 June 2016.

Separately, Quess Corp announced after market hours yesterday, 19 October 2016 that it has entered into a definitive agreement to acquire a 49% stake in Terrier Security Services (India) Private Limited for a consideration of Rs 72 crore, marking its entry into the manned guarding and security solutions business. With a track record of over 27 years, Terrier is among the leading providers of manned guarding services in India. In addition, Terrier also provides training services for security personnel and electronic security solutions to clients.

Terrier has a pan India footprint with presence across 14 states spanning 60 cities. The company has over 400 clients including marquee names in the information technology, engineering and automobile sectors and a deployed head count of over 16,000 guards as on 31 August, 2016. The company closed FY 2016 with revenue of Rs 220 crore and EBITDA margin of 5%. Closing of the transaction is subject to, inter-alia, fulfilment of certain conditions precedent set out in the agreement between the parties to the satisfaction of Quess, and statutory and regulatory approvals.

Separately, Quess Corp announced after market hours yesterday, 19 October 2016 that it has entered into a binding agreement of terms to acquire a majority stake in Comtel Solutions Pte. Ltd, marking Quess entry into the technology staffing domain in Singapore. Closing of the transaction is subject to, inter-alia, fulfilment of certain conditions precedent set out in the agreement, to the mutual satisfaction of both parties, and statutory and regulatory approvals. The transaction is expected to provide a significant boost to Quess operations in Asia Pacific where it already has presence in Malaysia, Philippines and Sri Lanka.

Comtel is one of Singapores largest independent staffing companies with services offered across staffing solutions, managed services solutions, and recruitment and search services with operations across Malaysia and Indonesia. Comtel serves more than 60 clients, including marquee names in BFSI, Engineering and IT sectors. The Company grew at a CAGR of about 27% between FY 2014 to 2016 and closed FY 2016 with revenues of SGD 82 million and currently has a headcount in excess of 1,400 associates.

Quess will initially acquire 64% in Comtel while the balance will be acquired in a phased manner over FY 2018 to FY 2020. Quess and the current Comtel management will work towards rapidly expanding the platform bringing together their respective expertise and local knowhow.

Separately, Quess Corp announced after market hours yesterday, 19 October 2016 that it has entered into a definitive agreement to acquire 45% stake in Simpliance Technologies Private Limited. Simpliance is a Bengalaru based compliance Technology firm. Simpliance will continue to be managed by the existing key management personnel headed by Anil D Souza. Quess will pay a consideration of Rs 2.5 crore as fresh equity for a 45% stake and the investment will be used to enhance the existing platform.

Quess Corp provides comprehensive solutions including recruitment, temporary staffing, technology staffing, IT products and solutions, skill development, payroll, compliance management, integrated facility management and industrial asset management services.

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NBCC (India) drops as government to dilute stake through OFS
Oct 20,2016

The announcement was made after market hours yesterday, 19 October 2016.

Meanwhile, the S&P BSE Sensex was up 184.65 points or 0.66% at 28,169.02

On BSE, so far 51,000 shares were traded in the counter as against average daily volume of 1.56 lakh shares in the past one quarter. The stock hit a high of Rs 249.85 and a low of Rs 246.90 so far during the day. The stock had hit a record high of Rs 299.20 on 5 October 2016. The stock had hit a 52-week low of Rs 162 on 12 February 2016.

The large-cap company has equity capital of Rs 120 crore. Face value per share is Rs 2.

The government proposes to sell up to 9 crore equity shares, or 15% equity of NBCC (India) through an offer for sale (OFS) through a separate, designated window on the stock exchanges. The OFS opens today, 20 October 2016 for non-retail investors and tomorrow, 21 October 2016 for retail investors and non-retail investors who choose to carry forward their unallotted bids. The floor price for the OFS was set at Rs 246.50 per equity share, a discount of 2.57% to the stocks closing price of Rs 253 yesterday, 19 October 2016. Retail investors will be allocated offer shares at a discount of 5% to the issue price. As on 30 June 2016, the government held 90% stake in NBCC (India).

NBCC (India)s consolidated net profit rose 16.4% to Rs 47.10 crore on 15.1% rise in net sales to Rs 1254.31 crore in Q1 June 2016 over Q1 June 2015.

NBCC (India) is a blue-chip Government of India (GoI) Navratna Enterprise under the Ministry of Urban Development, in construction sector.

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Tata Coffee gains after strong Q2 results
Oct 20,2016

The result was announced after market hours yesterday, 19 October 2016.

Meanwhile, the S&P BSE Sensex was up 187.42 points, or 0.67%, to 28,171.79

On BSE, so far 1.51 lakh shares were traded in the counter, compared with average daily volume of 2.07 lakh shares in the past one quarter. The stock hit a high of Rs 150.05 so far during the day, which is also a 52-week high for the counter. The stock hit a low of Rs 146.15 so far during the day. The stock hit a 52-week low of Rs 81.70 on 17 February 2016.

The small-cap company has an equity capital of Rs 18.68 crore. Face value per share is Re 1.

Tata Coffee said that instant coffee business of the company continued to deliver superior profit performance in Q2 September 2016. The instant coffee/value added business of the company reported modest growth in topline sales on volume growth in Q2 September 2016. The company received dividend of Rs 16.75 crore from its overseas subsidiary Consolidated Coffee Inc., Tata Coffee said.

Tata Coffee is the largest integrated coffee plantation company in the world. The company grows coffee on its own estates, processes the beans, exports green coffee, manufactures and exports instant coffee and retails coffee with its own branding in the domestic market.

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ITC drops on reports GST Council is mulling sin cess
Oct 19,2016

The company currently pays 25% value-added tax (VAT) and 40% excise duty. After GST, ITC may have to pay 26% GST along with sin cess, reports suggested.

Meanwhile, the S&P BSE Sensex was down 66.51 points or 0.24% at 27,984.37

On BSE, so far 15.44 lakh shares were traded in the counter as against average daily volume of 9.89 lakh shares in the past one quarter. The stock hit a high of Rs 245.90 and a low of Rs 238.50 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 large-cap company has equity capital of Rs 1211.16 crore. Face value per share is Re 1.

ITCs net profit rose 10.09% to Rs 2384.67 crore on 9.69% growth in net sales to Rs 9957.66 crore in Q1 June 2016 over Q1 June 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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Mangalore Chemicals hits the roof after turnaround Q2 outcome
Oct 19,2016

Net sales declined 5.55% to Rs 848.44 crore in Q2 September 2016 over Q2 September 2015. The result was declared during market hours today, 19 October 2016.

Meanwhile, the BSE Sensex was down 68.67 points, or 0.24%, to 27,982.21

On BSE, so far 2.55 lakh shares were traded in the counter, compared with average daily volume of 13,702 shares in the past one quarter. The stock hit a high of Rs 63.35 in intraday trade so far, which is 52-week high for the counter. The stock hit a low of Rs 52.15 so far during the day. The stock hit a 52-week low of Rs 35.30 on 15 February 2016.

The small-cap company has equity capital of Rs 118.52 crore. Face value per share is Rs 10.

Mangalore Chemicals and Fertilizers is the largest manufacturer of chemicals fertilizers in Karnataka. The company with its wide range of products that include Urea, Di-Ammonium Phosphate, Muriate of Potash, Granulated Fertilizers, Micronutrients, Soil Conditioners and Specialty Fertilizers, touches and enriches the lives of farmers across Southern India.

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Bhel gains after reports of Supreme Courts relief over Ennore thermal project
Oct 19,2016

Meanwhile, the BSE Sensex was down 86.53 points, or 0.31%, to 27,964.35.

On BSE, so far 15.49 lakh shares were traded in the counter, compared with average daily volume of 10.63 lakh shares in the past one quarter. The stock hit a high of Rs 143.45 and a low of Rs 139 so far during the day. The stock hit a 52-week high of Rs 219.70 on 27 October 2015. The stock hit a 52-week low of Rs 90.40 on 29 February 2016. The stock had underperformed the market over the past one month till 18 October 2016, falling 7.19% compared with 1.92% fall in the Sensex. The scrip had also underperformed the market in past one quarter, falling 2.58% as against Sensexs 1.1% rise.

The large-cap company has equity capital of Rs 489.52 crore. Face value per share is Rs 2.

As per reports, the Supreme Court allowed a batch of civil appeals against Madras High Courts stay over construction of Bharat Heavy Electricals (Bhel)s 1320 megawatts Ennore SEZ supercritical thermal power project. Bhel had won a contract in October 2014 worth Rs 7800 crore from Tamil Nadu Generation and Distribution Corporation (TANGEDCO) for setting up 2X660 megawatt (MW) thermal power plant on engineering, procurement and construction (EPC) basis at Ennore SEZ. However, the contract was challenged by a rival consortium.

The Supreme Court was also critical of the Madras High Court for not exercising restraint and held that the latters order followed the path of error in continuum. Though Bhel was awarded the contract for the construction of these plants, a division bench of the Madras High Court had allowed pleas of the other bidder, Central Southern China Electric Power Design Institute (CSEPDI)-Trishe Consortium and directed TANGEDCO to evaluate the price bid taking into consideration representations submitted by the consortium, thereby prompting TANGEDCO and Bhel to challenge the order.

In its judgment, a division bench of the Supreme Court comprising Justices Dipak Misra and Shiva Kirti Singh observed that in a complex fiscal evaluation the court has to apply the doctrine of restraint. Several aspects, clauses, contingencies, etc. have to be factored. These calculations are best left to experts and those who have knowledge and skills in the field. The bench was referring to a consultant report which defended the award of the contract to Bhel by TANGEDCO. The bench was also critical of the Madras High Court entertaining a plea to consider representations before the finalisation of a contract.

The construction of 2X660 MW Ennore SEZ Supercritical Thermal Power Project was delayed since there were several rounds of litigation in the Madras High Court over the tender process of TANGEDCO with CSEPDI - Trishe Consortium, alleging n++arbitrariness, anomalies and inconsistenciesn++ in the process.

Bhel had announced during market hours yesterday, 18 October 2016 that Prime Minister of India dedicated three Bhel-commissioned hydro power projects to the nation.

Bhels net profit jumped 54.2% to Rs 77.77 crore on 29% growth in net sales to Rs 5522.76 crore in Q1 June 2016 over Q1 June 2015.

State-run Bhel is an integrated power plant equipment manufacturer. It is one of the largest engineering and manufacturing companies in India engaged in the design, engineering, manufacture, construction, testing, commissioning and servicing of a wide range of products and services for core sectors of the economy, viz. power, transmission, industry, railways, renewable energy, oil & gas, water and defence. The Government of India currently holds 63.06% stake in Bhel (as per the shareholding pattern as on 30 June 2016).

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Sun Pharma gains after entering into collaboration to develop novel dengue vaccine
Oct 19,2016

The announcement was made during market hours today, 19 October 2016.

Meanwhile, the S&P BSE Sensex was up 5.50 points or 0.02% at 28,056.38.

On BSE, so far 1.2 lakh shares were traded in the counter as against average daily volume of 2.84 lakh shares in the past one quarter. The stock hit a high of Rs 759 and a low of Rs 747 so far during the day. The stock had hit a 52-week high of Rs 913.70 on 20 October 2015. The stock had hit a 52-week low of Rs 706.40 on 24 November 2015. The stock had underperformed the market over the past one month till 18 October 2016, falling 5.17% compared with 1.92% fall in the Sensex. The scrip had also underperformed the market in past one quarter, falling 4.21% as against Sensexs 1.1% rise.

The large-cap company has equity capital of Rs 240.68 crore. Face value per share is Rs 1.

International Centre for Genetic Engineering and Biotechnology (ICGEB) and Sun Pharma announced their new collaboration for development of a dengue vaccine, targeted against all the four serotypes of Dengue virus that cause disease in humans. ICGEB has developed a tailored recombinant virus-like-particle (VLP) based tetravalent dengue vaccine, containing host-receptor binding domain of envelope protein of all the four DENV serotypes. ICGEB has conducted pre-clinical studies over the past seven years and developed the existing know-how and patents for this dengue vaccine candidate. This is the second collaboration between Sun Pharma and ICGEB focusing on dengue. The first one announced in May 2016 was related to the development of a botanical drug for treatment of Dengue. The current collaboration is focussed on developing a novel, safe & effective vaccine for the prevention of dengue.

This vaccine development will focus on suitability for all target population whether previously affected or non-affected, including paediatric and adults and traveller population.

According to the agreement signed, Sun Pharma will fund & support further development of the vaccine candidate and existing ICGEB know-how and patents. ICGEB will grant Sun Pharma exclusive rights and licenses for development and commercialisation of this vaccine globally. ICGEB will receive pre-defined royalty & milestone payments. A joint development committee, comprising members of both the organisations, will be established to provide oversight to the dengue vaccine development program. According to the agreement signed, ICGEB shall disclose and make available to Sun Pharma all such existing ICGEB know-how as well as effective completion of technology transfer by ICGEB to Sun Pharma within stipulated timeframe. Since, ICGEB is not related to promoter/promoter group/ group companies of Sun Pharma, this transaction does not fallunder related party transaction.

Sun Pharma will set-up a Dengue Vaccine Advisory group to provide technical and regulatory support to the vaccine development programme. It will also be exclusively responsible for all regulatory filings for the product globally including, without limitation, CDSCO-India, WHO, USFDA, EMA, MHRA etc. The company will explore commercialisation opportunities to provide this vaccine to patients across India, emerging markets, western Europe, Japan and USA at affordable costs post regulatory approvals in these markets. The immediate priority of this partnership is to complete the toxicology studies for further development of the program.

Sun Pharmas consolidated net profit surged 265.8% to Rs 2033.71 crore on 22.7% growth in net sales to Rs 8006.68 crore in Q1 June 2016 over Q1 June 2015.

Sun Pharmaceutical Industries is the worlds fifth largest specialty generic pharmaceutical company and Indias top pharmaceutical company.

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Idea Cellular gains after bulk deal
Oct 19,2016

Meanwhile, the S&P BSE Sensex was down 21.28 points or 0.08% at 28,029.60

Bulk deal boosted volume on the scrip. On BSE, so far 12.62 lakh shares were traded in the counter as against average daily volume of 9.21 lakh shares in the past one quarter. The stock hit a high of Rs 74.75 and a low of Rs 72.60 so far during the day. The stock had hit a 52-week high of Rs 153.50 on 21 October 2015. The stock had hit a 52-week low of Rs 71.25 on 18 October 2016. The stock had underperformed the market over the past 30 days till 18 October 2016, falling 13.86% compared with Sensexs 2.04% fall. The scrip also underperformed the market in past one quarter, sliding 30.77% as against Sensexs 0.48% rise.

The large-cap company has equity capital of Rs 3601.03 crore. Face value per share is Rs 10.

Idea Cellulars consolidated net profit slumped 74.21% to Rs 220.42 crore on 7.22% rise in total income to Rs 9552.45 crore in Q1 June 2016 over Q1 June 2015.

Idea Cellular is one of the leading telecom operators in India. It is a part of the Aditya Birla Group.

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