Thursday, 17 August 2017


Power Grid Corporation of India announced on Thursday that the company’s board of directors has approved the investment proposal for three plants with an estimated cost of Rs 1931.39 crore.

The board has approved the investment for HVDC Biopole link between Western region (Raigarh, Chhattisgarh) and Southern Region (Pugalur, Tamil Nadu)-North Trichur (Kerala).

The company’s boards also provide the approval for raising of Rupee term loan of upto Rs 3270 crore from  ICICI Bank at three month MCLR of bank with reset every three months from the date of first disbursement.

Loan shall be drawn as per requirement of Power Grid within five years from the date of first disbursement.

Maturity of the rupee term loan shall be not exceeding 15 years from initial disbursement date with moratorium period of five years from initial drawdown date and repayment in 20 equal half yearly instalments starting from 5.5 years after first disbursement.

Meanwhile, the stock was trading lower by 0.48% at Rs 219 per share on BSE at 1505 hours. It opened at Rs 220.65 per share. It attracted total traded volume of 13,89,076 shares and traded value of Rs 3,059.16 lakh on NSE at 1507 hours.

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Zydus Cadila announced that the company has received the final approval from the USFDA to market Telmisartan and Hydrochlorothiazide Tablets USP, in the strengths of 40mg/ 12.5 mg, 80 mg/12.5 mg and 80mg/25 mg, on Thursday.

The drugs are used to treat hypertension (high blood pressure). The drug will be manufactured at the group’s formulations manufacturing facility at Moraiya, Ahmedabad.

The sales of Telmisartan and Hydrochlorothiazide Tablets are estimated at USD 66.5 million.

The group now has more than 140 approvals and has so far filed over 300 ANDAs since the commencement of the filing process in FY 2003-04.

Meanwhile, the stock was trading higher by 0.72% at Rs 487 per share on BSE at 1027 hours. It opened at Rs 486 per share. It touched its intraday high and low at Rs 489.90 and Rs 480 per share, respectively. The stock attracted total traded volume of 1,386.62 shares and traded value of Rs 1,386.62 lakh on NSE at 1036 hours.  

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Kirloskar Industries announced the resumption of operations of one of its mini blast furnace at Koppal Plant, on Wednesday after market hours.

Meanwhile, the company’s share price slipped by 1.80% and was trading at Rs 1,609 per share on BSE at 1046 hours. The stock attracted a total traded quantity of 149 shares.

The plant operations were temporarily suspended from July 12, 2017.

The stock on yearly basis has given 108.34% returns and has outperformed BSE Small-cap index and BSE Power index.

Kirloskar Industries is a holding company engaged in the manufacturing of iron castings. The company’s segments are wind power generation; investments (Securities and Properties), and iron casting.

The company has approximately seven windmills in Maharashtra with total installed capacity of over 5.6 megawatt (MW).

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Suven Life Sciences (Suven) announced on Thursday that the company has secured the processes patents from Europe, Japan and New Zealand. The company has received patents for new chemical entities (NCEs) which are for the treatment of disorders associated with neurodegenerative diseases and these patents are valid through 2034.

These process patents are for company’s pipeline compounds which are in the class of selective 5HT6 compounds and are being developed as therapeutic agents and useful in the treatment of cognitive impairment associated with neurodegenerative disorders like Alzheimer’s disease, Attention deficient hyperactivity disorder (ADHD), Huntington’s disease, Parkinson and Schizophrenia.

Meanwhile, the stock was trading higher by 5.14% at Rs 165 per share on BSE at 1053 hours. It opened at Rs 157.55 per share. It touched its intraday high and low at Rs 167.10 and Rs 157.55 per share, respectively.

The stock attracted a total traded volume of 4,07,898 shares and traded value of Rs 670.95 lakh on NSE at 1055.

Suven Life Science is a biopharmaceutical company focused on discovering, developing and commercialising novel pharmaceutical products, which are best in class CNS therapies using GPCR targets.

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Apollo Hospitals Enterprise was lagging during Thursday’s trade. Extending its intraday losses in the post lunch hour, the stock plunged over 6% as an impact of the government capping knee implant prices.

In a bid to restrict the exorbitant rates charged by private hospitals, the government has fixed a price range for knee implants between Rs 54,000 to Rs 1.14 lakh, nearly 70% lower than the current cost.

The stock of Apollo Hospitals Enterprise touched its 32-month low during intraday trade on Thursday.

Apollo Hospitals Enterprise was trading at Rs 1,084.15 per share, down by Rs 75 or 6.47% as at 1426 hours on Thursday, on the BSE. The stock hit an intraday high and low of Rs 1,154 and Rs 1,076, respectively.

The stock attracted a traded volume of 9,58,658 shares and traded value of Rs 10,677.92 lakh on the NSE. The stock had hit its 52-week high of Rs 1,432.95 on August 16, 2016 and 52-week low of Rs 1,073.50 on August 17, 2017.

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The BSE Telecom index was witnessing an upward momentum during Thursday’s trade. The index was up by over 1%. Bharti Airtel was contributing most to the index gains.

BSE Telecom index was trading at 1406.28 level, up by 16.96 points or 1.22%. Bharti Airtel was contributing more than 13 points to the index gains and the stock was trading at Rs 414 per share, up by Rs 7.35 or 1.81%.

Aksh Optifibre was leading the chart and the stock was trading at Rs 27.25 per share, up by Rs 2 or 7.92% as at 1128 hours on Thursday, on the BSE.

Among other telecom majors, Himachal Futuristic Communications was trading up 3.80% at Rs 16.40, Idea Cellular was up 1.21% at Rs 88, ITI was up 0.96% at Rs 88.95 and Sterlite Technologies was up 0.73% at Rs 228.30 per share.

Meanwhile, OnMobile Global was the top loser and the stock was trading at Rs 59.20 per share, down by Rs 59.20 or 2.47%.  GTL Infrastructure and Reliance Communications were also trading in the red zone.

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Huhtamaki PPL Limited advanced 1.24% at Rs 237.5 per share on BSE at 1504 hours after a block deal. The stock witnessed 37.8 lakh shares traded in a block on BSE at Rs 230 per share.

Block deal is a trade, with a minimum quantity of 5 lakh shares or minimum value of Rs 5 crore, executed through a single transaction, on the special block deal window.

The stock has hit an intraday high and low of Rs 238.9 and Rs 230 respectively. The stock also witnessed a spurt in volume by over 1620.38 times.

The stock attracted a traded volume of 1,75,174 shares and traded value of Rs 4.18 crore on the NSE.

Huhtamaki PPL, formerly the paper products limited, is an India-based consumer packaging company. The company offers a range of products, which include specialized pouches, pressure sensitive labels, shrink sleeves, personal care and household, specialized cartons, wet strength labels, shrink sleeves, and automotive and industrial products. It operates through consumer packaging segment.

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