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Friday, 30 September 2016


R Subramania Kumar has been appointed as Executive Director of state-owned Indian Overseas Bank, the Finance Ministry said.

Kumar is currently Executive Director of Indian Bank. "The Central Government appointed R Subramania Kumar, Executive Director, Indian Bank as Executive Director, Indian Overseas Bank with effect from his taking over the charge of the Indian Overseas Bank and up to January 21, 2019 or until further orders, whichever is earlier," it said.

Indian Overseas Bank is currently trading at Rs. 25.5, up by Rs. 0.1 or 0.39% from its previous closing of Rs. 25.4 on the BSE.

The scrip opened at Rs. 25 and has touched a high and low of Rs. 25.6 and Rs. 25 respectively. So far 205316(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 4823.5 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 38.2 on 09-Oct-2015 and a 52 week low of Rs. 21.1 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 27.3 and Rs. 25.2 respectively. The promoters holding in the company stood at 73.58 % while Institutions and Non-Institutions held 17.9 % and 8.52 % respectively. The stock is currently trading below its 200 DMA.
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Drug firm Jubilant Life Sciences today said its subsidiary Jubilant Pharma has raised USD 300 million (approx Rs 1,998 crore) through issuance of five-year bonds to mainly retire debts. "Our material wholly-owned subsidiary, Jubilant Pharma Ltd (JPL), has successfully completed the pricing of its rated unsecured high yield bonds (Notes) at a yield of 4.875 per cent per annum issued at par for USD 300 million maturing in September 2021," Jubilant Life Sciences said in a BSE filing. 

It further said: "The net proceeds of the Notes shall be used to prepay the existing debt of JPL and its subsidiaries, for upstreaming up to USD 50 million to Jubilant Life Sciences for prepayment of its existing debts and general corporate purposes." Shares of Jubilant Life Sciences were trading 1.89 percent higher at Rs 601 on BSE.

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Plastic products manufacturer Sintex Industries   shares gained nearly 8 percent intraday Friday on board approval for demerger of custom moulding and prefab segments. "The board of directors, on September 29, unanimously approved the composite scheme of arrangement for demerger of custom moulding business and prefab business to Sintex-BAPL and Sintex Infra Projects, respectively," the Gujarat-based company said in its filing. Strategic investment in Sintex Holdings BV (Netherlands) will also be transferred to Sintex-BAPL. Both companies are wholly owned subsidiaries of Sintex Plastics Technology. 

The transaction is expected to unlock value of shareholders by separating various businesses in different entities, the company said. The scheme also involved issuance of one equity share of Sintex Plastics Technology upon demerger against one equity share held by shareholders in Sintex Industries. After the demerger, equity shares of Sintex Plastics Technology will be listed separately on exchanges. Hence, equity shares currently being held by Sintex Industries in Sintex Plastics Technology will be cancelled pursuant to the scheme.
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SEAMEC Ltd is currently trading at Rs. 84.05, up by Rs. 6 or 7.69% from its previous closing of Rs. 78.05 on the BSE. The company has entered into an agreement with HAL Offshore (HAL) for deployment of vessel SEAMEC II along with provision of services of ROV, the contract commenced with effect from September 28, 2016.

The total contract value for the period of 3 years will be approximately $33,441,300. The scrip opened at Rs. 85 and has touched a high and low of Rs. 85.85 and Rs. 82.1 respectively. So far 55224 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 198.44 crore.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 127 on 03-Nov-2015 and a 52 week low of Rs. 64.25 on 31-Mar-2016. Last one week high and low of the scrip stood at Rs. 91.9 and Rs. 77.1 respectively.

The promoters holding in the company stood at 72.87 % while Institutions and Non-Institutions held 0.65 % and 26.48 % respectively. The stock is currently trading below its 100 DMA.
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Canada Pension Plan Investment Board Managed By IM2 bought 1,61,36,310 shares of Kotak Mahindra Bank    at Rs 782.30 on the NSE. However, ING Mauritius Investments I sold 4,67,00,000 shares at Rs 782.32. On Thursday, Kotak Mahindra Bank was quoting at Rs 772.60, down Rs 9.70, or 1.24 percent on the NSE. 

The share touched its 52-week high Rs 825.40 and 52-week low Rs 585.75 on 09 September, 2016 and 29 February, 2016, respectively.
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KNR Constructions Ltd is currently trading at Rs. 741.25, up by Rs. 0.1 or 0.01% from its previous closing of Rs. 741.15 on the BSE. The Board of Directors of the Company is scheduled to be held on September 30, 2016, after the conclusion of the 21st Annual General Meeting of the Company, inter alia, to transact consider and approve the sub-division of the nominal value of the equity shares of Rs 10 per share to Rs.2 per share.

The company to consider the request received from Mr. M Rajesh Reddy for reclassifying him from the "Promoter Category" to "Public Category".

The scrip opened at Rs. 723.45 and has touched a high and low of Rs. 749 and Rs. 705 respectively. So far 6096(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 2084.11 crore.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 786.7 on 29-Sep-2016 and a 52 week low of Rs. 408 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 786.7 and Rs. 702.95 respectively.

The promoters holding in the company stood at 60.75 % while Institutions and Non-Institutions held 27.73 % and 11.51 % respectively. The stock is currently trading above its 50 DMA.
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State-owned NHPC   said it has signed a power purchase pact with Rajasthan as well as Inox Ltd for a 50 mw wind power project in the state. "...a wind power purchase agreement has been singed amongst Rajasthan Government, NHPC Ltd and Inox Ltd on September 28 for 50 mw wind power project in Jaisalmer, Rajasthan," NHPC Ltd said in a filing to BSE. 

"As per the PPA, Rajasthan government will purchase the power generated from the project," the filing said. During FY'16, NHPC power stations achieved the generation of 23404 million units (MU). NHPC is engaged in the construction of 5 projects aggregating to a total installed capacity of 4290 MW including 1000 mw (Pakal Dul hydroelectric project) being executed through JV company. Ten projects of 7,151 mw are awaiting clearances/ government approval for their implementation including three projects of 1,186 mw to be executed through subsidiary/joint venture companies.

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State-owned NTPC   announced the listing of its Rs 2,000 crore Green Masala Bonds at Singapore Stock Exchange. "NTPC has become the flag bearer for Rupee denominated Indian paper bringing in a new set of investors to meet the financing needs of the Indian Infrastructure sector on listing of INR 2000 crore Green Masala Bonds at Singapore Stock Exchange," the company said in a statement. NTPC Director (Finance) K Biswal NTPC was the special speaker at the event where a presentation was made by him to a large audience highlighting the PSU's Green Masala Bonds issue for financing renewable energy projects. 

Singapore Stock Exchange unveiled The Global Masala Bonds Hub at the Exchange on Monday. The event was attended by the Indian High Commissioner to Singapore Vijay Thakur Singh, along with other senior dignitaries and officials of SGX and participants from business and investors community. Biswal thereafter participated in the 'Striking the Gong Ceremony', a traditional practice at SGX, to mark the listing of NTPC's Green Masala Bonds. Muthukrishnan Ramaswami, President of SGX, appreciated NTPC's continuous support to SGX.
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Alkem Laboratories   shares fell over 8 percent intraday Friday on several observations from the US health regulator for Daman facility. "....has received the inspection report for manufacturing facility located at Daman, India which contains thirteen 483 observations," the Mumbai-based pharma company in its filing yesterday. 

The US Food and Drug Administration had conducted an inspection at the facility from September 20 to September 29, 2016. The company said it would put together a detailed response with adequate corrective and preventive measures to address the USFDA observations and the same is proposed to be filed within the timeline stipulated by USFDA. Alkem, in August, had received inspection report for its bioequivalence facility at Taloja, Maharashtra and there were no 483s issued by the USFDA.


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Zydus Cadila, a research-driven, global healthcare provider and Medicines for Malaria Venture (MMV) announced a collaboration to develop the investigational antimalarial compound, MMV674253. Zydus  will lead the development of the novel compound and MMV will provide support including scientific expertise and access to tools in the field of malaria drug development and delivery.

The aim of the collaboration is to provide an effective alternative to the current front-line antimalarial drugs for the treatment of uncomplicated P.  falciparum malaria,  artemisinin-based  combination therapies  (ACTs), which are under threat of resistance.

Malaria continues to place a heavy burden on the world. The WHO estimated that in 2015, 214 million malaria cases and 438,000 malaria deaths occurred worldwide. The scale-up of control measures including medicines has saved the lives of more than six million people since 2000.

Yet the rapid development and spread of antimalarial drug resistance threatens this global progress. To date, parasite resistance to artemisinin has been detected in five countries of the Greater Mekong Sub­ region:  Cambodia, the Lao People's Democratic Republic, Myanmar,  Thailand and Vietnam.

The WHO recognizes the imminent danger posed by artemisinin resistance and states that  "The geographic scope of the artemisinin-resistance problem could widen quickly and have dire public health consequences: the spread or independent emergence of artemisinin resistance in other parts of the world could pose a major health security risk as no alternative antimalarial medicine is available at present with the same level of efficacy and tolerability as ACTs."
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Alkem Laboratories Ltd is currently trading at Rs. 1730.75, down by Rs. 73.3 or 4.06% from its previous closing of Rs. 1804.05 on the BSE. The company said it has received the inspection report which contains thirteen 483 observations.

The company shall put together a detailed response with adequate corrective and preventive measures to address the USFDA Observations and the same is proposed to be filed within the timeline stipulated by USFDA. The scrip opened at Rs. 1693.9 and has touched a high and low of Rs. 1765.6 and Rs. 1655 respectively. So far 327284 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 21570.12 crore.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 1852.95 on 29-Sep-2016 and a 52 week low of Rs. 1175 on 02-May-2016. Last one week high and low of the scrip stood at Rs. 1852.95 and Rs. 1718 respectively. The promoters holding in the company stood at 66.88 % while Institutions and Non-Institutions held 6.91 % and 26.21 % respectively. The stock is currently trading above its 50 DMA.
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