Wednesday, 26 April 2017


Highway developer Dilip Buildcon has bagged three road projects worth Rs 3,269 crore in Maharashtra from the National Highway Authority of India.

Three separate SPVs (special purpose vehicles/entities) have been incorporated into the projects, said an official statement released by the company on Wednesday, 26 April 2017.

"The company has informed about the receipt of Letter of Award from the National Highways Authority of India, Ministry of Road Transport and Highways, for three projects in a single stretch in the state of Maharashtra," Dilip Buildcon Ltd (DBL) said in a BSE filing.

It further said: "DBL has incorporated three SPV companies for three projects valued at Rs 3,269 crore in Maharashtra." 

Earlier on Monday, the Airport Authority of India has declared Dilip Buildcon Limited, Bhopal as Lowest -1 (L-1) bidder for Construction of Parallel Taxi Track and associated civil & electrical works at Dabolim Airport, Goa.

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One of the leading Indian academic content producing company, S Chand and Company Limited’s IPO issue is open for subscription. On the first day of subscription, as per the data available with the NSE as of 1400 hours, the issue attracted total bids of 12,61,810 and total bids received at cut-off price stands at 7,75,368. The total issue size stands at 76,85,284 shares.

The IPO issue as of 2 pm on Wednesday was subscribed by 16%. On April 25, the company raised nearly Rs 219 Cr from anchor investors.

The price band is fixed at Rs 660 per share to Rs 670 per share with face value of each share pegged at Rs 5 per share. The IPO issue opens on April 26, 2017, and closes on April 28, 2017. The company is going to raise funds through fresh issue of equity shares, aggregating up to Rs 3250 million. The company is also raising funds through offer for sale of 60,23,236 equity shares. The face value of equity shares is pegged at Rs 5 per share.

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PVR Limited has signed a deal with IMAX for additional 5 screens, said Ajay Bijli, CEO, PVR Limited, while speaking to a leading business channel, on Wednesday.
 
The installation of the additional screens would cost around Rs 55 crore, said Bijli.
 
IMAX is known for delivering better movie experience.
 
The CEO of PVR, in his interview also said that Q3 got impacted due to demonetisation.
 
IMAX previously had wished to add screens and was in talks with the top cinema operators of the country for the same.
 
Multiplexes around the country are expected to witness a good run as the mega release of Bahubali-2 is on the cards.


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Tuesday, 25 April 2017


April 25, 2017, is the last day of trading in the Cairn India Limited stock. From Wednesday onwards, investors cannot trade in the Cairn India Limited share and its derivatives contracts.

The debt-ridden Vedanta Limited, the parent company has acquired Cairn India Limited. As per the merger deal, the shareholders of Cairn India Limited will get one equity share of Vedanta; and four redeemable preference shares of face value Rs 10 and coupon rate of 7.5%.

The record date for the swap of shares is set at April 27, 2017.

Additional to the extra stocks of Vedanta Limited, the shareholders of Cairn India Limited would get the interim dividend of Rs 17.7 per equity share.

On the last day of trading, Cairn India Limited is losing its sheen, and is trading lower by around 0.6% at Rs 281.15 per share.

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Glenmark Pharmaceuticals, a global pharmaceutical company, today announced that the U.S. Food and Drug Administration (FDA) cleared the company’s Investigational New Drug (IND) application to initiate a first-in-human study of GBR 310, a proposed biosimilar, which will assess its pharmacokinetics in comparison to XOLAIR® (omalizumab) in healthy adult volunteers between 18 – 65 years of age.

“This marks the second IND activation in 2017 for our growing respiratory portfolio,” said Kurt Stoeckli, President and Chief Scientific Officer at Glenmark Pharmaceuticals.

“In the seven years since the U.S. approval process for biosimilar medicines was signed into law, there have been few candidates successfully developed. GBR 310 has the potential to be among the first biosimilar candidates to be submitted for approval for a respiratory or allergic disease.” GBR 310 is a recombinant DNA-derived humanized immunoglobulin G1 kappa monoclonal antibody.

Its current proposed indication is for the treatment of allergic asthma and chronic idiopathic urticaria. The reference product for GBR 310 is omalizumab, available under the brand name XOLAIR. According to IMS sales data for the 12-month period ending February 2017, annual sales of XOLAIR 150 mg injection was approximately $1.7 Billion in the U.S. 1

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Ballarpur Industries (BILT), a Gautam Thapar-controlled company for selling its Malaysian forest arm, Sabah Forest Industries, is reportedly is in talks with a Chinese giant, Nine Dragons.

According to a report tabled by a leading business news portal, the deal will be for around $350 million. This will be a yet another effort to deleverage the BILT balance sheet.

BILT for some time is in talks with Nine dragons and the discussion is likely to lead to a binding agreement soon, as per the news report. BILT is one India’s largest manufacturer of writing and printing paper.

In a first significant overseas acquisition by an Indian paper company, BILT had acquired Sabah for almost $261 million. The latter company also makes paper-related products and offers wood-related products such as rough and chemically treated sawn timber and panel-based products which include, raw plywood and dried veneer, said the news report. 

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Monday, 24 April 2017


Stocks of Bharat Financial Inclusion, a non-banking financial company/micro finance institution, on Monday, witnessed a sharp jump by 4.2% on the NSE.

The stock hit an intraday high of Rs 780.10 per share, and an intraday low of Rs 747.70 per share on the BSE. The stock on July 29, 2016, hit its 52-week high of Rs 939 per share; and on December 27, 2016, it hit its 52-week low of Rs 465 per share.

The stock delivered over 32% returns in a period of one year, outperforming the BSE Mid-cap and Nifty Financial Services indices’ over the same time span.

The Company is engaged in providing micro finance services to women in the rural areas of India, enrolled as members and organised as Joint Liability Groups.

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HCL Tech on Monday has announced that it has acquired Urban Fulfilment Services, LLC. UFS is a limited liability company, incorporated in the USA.

Urban Fulfilment Services, LLC, is mainly engaged in providing mortgage business process and fulfilment services to its customers. The company has more than 350 employees in the USA. It has a turnover of USD 48 million, as for the financial year ended December 31, 2016.

The acquisition will immediately bolster HCL’s presence in the mortgage BPO market. HCL in its filing to the bourses stated that by June 2017, the acquisition will be completed, and will be acquiring 100% outstanding shares of the UFS through cash.

The total cash consideration for this transaction is around USD 30 million, including contingent payment, subject to certain financial milestones.

Mortgage servicing in the USA is a regulated activity, and would require regulatory approval for obtaining the license.

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Usha Martin, among the largest wire rope manufacturers in the world has witnessed a surge almost by 13% to hit a new 52-week high at Rs 23.15 on the NSE.  The stock had hit a 52-week low at Rs 11.50 on September 30, 2016.

The stock of the company was trading at Rs 22.60 per share on NSE at 11.52 AM IST. The number of shares traded of the company so far during the day were 64,05,477. The free-float market capitalisation of the company was 304.74 crore.

The stock had given 55% returns in a period of 1 year, outperforming the BSE Small Cap & BSE Metal indices over the same period.

Usha Martin Ltd. is a leading producer of speciality steel and one of the largest wire rope manufacturers globally. The company is engaged in the manufacture of wire; wire ropes; steel with captive mineral linkages of iron ore and coal; and cables. They are having their manufacturing facilities in Ranchi, Jamshedpur and Barajamda in Jharkhand; Bangalore in Karnataka; Hoshiarpur in Punjab; and Agra in Uttar Pradesh.

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Stocks of state-owned telecom equipment manufacturer, ITI, are shining on D-Street, trading over 14% at Rs 100.25 per share on BSE. The stock opened its day at Rs 100.00 per share, touched a high of 103.20 per share, and a low of 96.20 per share.

The company has appointed business application provider, Infor, for enhanced GST compliance, and a speedy decision support system.

To align with the GST regime to be rolled out on July 1, 2017, companies are equipping their systems to adapt to the new environment, which will subsume excise, service tax, VAT and other local levies. The stock has outperformed both BSE Small cap index and Nifty Service Sector index on a yearly basis.

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Stock of GMR Infrastructure, an infrastructural company headquartered in Bengaluru, is trading strong, hitting a fresh 52-week high of Rs 18.50 per share.

The stock rose 5.4% during the afternoon hours, witnessing a huge spurt in volumes by more than 2.30 times.

The stock on the NSE has delivered over 50% returns in a period of one year, outperforming the BSE Mid-cap and Nifty Infrastructure indices over the same time period.

The infrastructure company in the December quarter of 2016 has posted consolidated net sales of Rs 3,708.37 crore, as compared to Rs 3,540.84 crore in the December of 2015.

GMR Infrastructure Limited (GIL) is engaged in generation of power; mining and exploration activities; development of highways, and other infrastructure development, such as development and maintenance of airports and special economic zone; construction business, including engineering, procurement and construction (EPC) contracting activities.

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ACC Limited surged as much as 5% in the early morning trade on Monday. The large-cap cement major had reported its Q1 results, post market hours on Friday, April 21, 2017.

Another cement major, Ambuja Cements Limited also rose as much as 3% in the early morning trade on the BSE.

According to market insiders, various government initiatives and schemes as announced in the Union Budget, which are encouraging the infrastructure projects and developments, construction of roads, irrigation and housing are expected to trigger the growth of the construction sector, and saying that the demand for concrete and cement in the coming period will be heightened is like stating the obvious.

At 10.50 am, on Monday, stocks of ACC Limited and Ambuja Cement Limited were trading at Rs 1560.10 and Rs 244.90, up by 4.23% and 2.25% respectively, on the BSE.


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Stocks of the pharma player, Glenmark Pharmaceuticals, are trading in a bearish mood, wherein the scrip is trading in negative territory on BSE, down by over 2% at Rs 882 per share, at morning hours.

On April 19, the pharma player received tentative approval from the U.S. FDA for Dabigatran Etexilate Capsules, 75 mg, 110 mg and 150 mg, the generic version of Pradaxa Capsules, 75 mg, 110 mg and 150 mg of Boehringer Ingelheim Pharmaceuticals, Inc.

The healthcare index, BSE Healthcare is diving downwards, trading in negative territory, down over 111 points or 0.73% at 15077 levels at 11:20 IST.

Glenmark Pharma is majorly contributing to the index's downfall. The stock has outperformed BSE Healthcare index, and underperformed BSE Sensex on a yearly basis. 

At 11:20 IST there are 1042 advances, 573 declines and 356 unchanged stocks, indicative of a positive vibe in the bourses.

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The big event investors in the market are eying for, is Reliance Industries Limited’s (RIL) quarterly financial results.

The D-street experts are expecting around 10% rise in the standalone profit for the quarter ended on March 31, 2017. The positive expectations for the quarterly results of RIL, has helped the stock to gain in Monday’s trading session.

Reliance Jio has now over 72 million paid subscribers, and the number is increasing day by day. As per the market experts, the D-street investors are anxious over whether RIL’s P&L statement adds Reliance Jio as a separate segment. This is the buzzing topic in the market. Jio’s strong competitive position in the telecom sector has attracted big investments in the RIL stock.

RIL is now very close to TCS in terms of market capitalisation. It has crossed TCS many times during the market hours in past few trading sessions, but could not firmly stay there for a long time. The stock has touched its intraday high of Rs 1420.95 per share, up by 1.6%. The huge volumes are being traded on NSE at 17,60,051 shares, valued at Rs 248.98 cr.

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Friday, 21 April 2017


Bombay Dyeing and Manufacturing Company Limited's stock is buzzing on the bourses in Friday’s trading session.

The stock has attracted a whopping trading volume of 1,15,74,557 shares in the past one hour. The traded value of the shares as of 13:47 hours on NSE stands at Rs 102.99 Cr.

The stock touched its fresh 52-week high of Rs 91.9 per share, up by Rs 7.15 per share or around 8%. It has given 227% returns in past one year, 178% returns in past six months and 70% returns on a YTD basis. Three years back, the stock used to trade above Rs 100 per share. The investors in the market are confused if the stock can show the historical trend again.

Recently, the company has launched a new line of bath linen products under the brand ‘Aspero Denim’ which is priced in the range of Rs 299 to Rs 2099.

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Bank of Baroda's stocks are trading weak by over 2% on BSE at Rs 175 per share as markets are nearing Friday’s close.

The stock opened its trade at Rs 179.90 per share, touched a high of Rs 180.20 per share and a low of Rs 174.65 per share.

The stock has outperformed BSE Sensex index and underperformed BSE Bankex on a yearly basis.

BSE Bankex index is trading in bearish mode, tumbling over 9 points or 0.04% at 24434 levels.

Nifty Bank index is trading up by 0.27% or 62 points at 21553 levels. Sectoral indices in NSE trading weak are Nifty PSU bank index, Nifty Metal & Nifty Pharma index .  

There are 847 advances, 811 declines and 292 unchanged stocks, indicating a slightly positive vibe in the market.

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