Dr Reddy's Laboratories may test Rs 3350-:- Equity Research

Rajat Bose of rajatkbose.com told CNBC-TV18, "Technicals are sort of becoming better because Dr Reddy's Laboratories had a big fall after it has posted very bad results and this went down below Rs 3,000 levels but did not really go to the target levels mentioned by a lot of analysts like Rs 2,700 or so." "From here, if it were to cross Rs 3,150, it will gain traction. That is still 75 points to go and after that the next target would...

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Cipla gets USFDA nod for generic anti-depressant drug-:- Equity Research

Drug firm Cipla today said its US arm InvaGen Pharmaceuticals Inc has received final approval from the American health regulator to market generic Bupropion Hydrochloride extended release tablets used for treatment of major depressive disorder. "InvaGen Pharmaceuticals Inc has received final approval for its abbreviated new drug application (ANDA) for Bupropion Hydrochloride extended release tablets (XL), 150 mg and 300 mg, from the United...

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Whirlpool Q1 net profit up 26% at Rs 122 cr-:- Equity Research

Consumer durables firm Whirlpool of India today reported a 25.94 percent increase in its standalone net profit at Rs 121.95 crore for the first quarter ended June 30, 2016-17. The company had posted net profit of Rs 96.83 crore during the same period of the previous fiscal. The net sales went up by 16.13 percent to Rs 1,356.88 crore during the April-June quarter as against Rs 1,168.35 crore in the same period last fiscal, Whirlpool said in a...

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Confident of Maruti maintaining double-digit growth-:- Equity Research

India's domestic market has been anything but dull for Maruti Suzuki in the recent time. The carmaker's stock has been at an all-time high of Rs 5,085 on Tuesday. The company has never been concerned about stock price, but more about making good cars and delivering good service to customers, said Maruti Suzuki Chairman RC Bhargava. He added the company may advance commissioning of a second line of manufacturing at its Gujarat plant. He also...

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See FY17 lignite volumes around 80 lakh tonnes-:- Equity Research

Gujarat Mineral Development Corporatio n (GMDC) posted a steady set of earnings for the quarter ended June. The year on year total income was up 27 percent at Rs 399.3 crore versus Rs 314.93 crore. Throwing more light on the numbers, CFO L Kulshrestha, told CNBC-TV18 that the company saw a 14 percent growth in lignite volumes in the first quarter at 21 lakh tonnes versus 18.37 lakh tonnes YoY. Segment-wise, the revenues for mining were up 30...

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Maha Legislature session to consider ratification of GST Bill-:- Equity Research

A special one-day session of Maharashtra Legislature to consider ratification of the Goods and Services Tax (GST) Constitutional Amendment Bill passed by Parliament, got underway here today. In the Assembly, Finance Minister Sudhir Mungantiwar tabled a resolution to ratify the GST Bill, while Minister of State for Finance Deepak Kesarkar introduced it in the Council. In the 288-member Maharashtra Assembly, the Bharatiya Janata Party (BJP) and...

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Airtel cuts 4G price by up to 80%.-:- Equity Research

In a move to counter Reliance Jio, telecom major Bharti Airtel has slashed 4G and 3G mobile internet charges by up to 80 per cent to as low as Rs 51 per gigabyte (GB) under a special scheme. To avail this benefit, Airtel customers will have to recharge with Rs 1,498 against which they will get 1GB of 4G or 3G mobile internet usage valid for 28 days, the company said in a statement. Post exhaustion of 1GB data limit, the customers can get 1GB...

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Jeera to trade in 17670-18130 range: Achiievers Equities-:- Equity Research

Jeera trading range for the day is 17670-18130. Jeera settled flat as pressure seen amid adeq uate stocks position following higher supplies from producing regions. As per the trade sources, India's jeera exports rose nearly 25% to around 50,000 tonnes in Apr-Jul from 40,000 tn in the year-ago period. As per the trade sources, India's jeera exports rose nearly 25% to around 50,000 tonnes in Apr-Jul from 40,000 tn in the year-ago period...

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Vedanta aluminium maintains prod guidance despite power failure-:- Equity Research

Mining conglomerate Vedanta has maintained production guidance of its aluminium arm at 1.2 million tonnes per annum (MTPA) this fiscal even as the firm faced a power shutdown this month at one of its plants. "The current run rate of aluminium production is around 1 MTPA and the overall 2016-17 volume guidance remains unchanged at 1.2 MTPA," the company led by billionaire Anil Agrawal said in a regulatory filing today. The commissioning of pots...

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Not rushing in to bring more models to India-:- Equity Research

Amid uncertainties over regulatory issues regarding diesel vehicles in India due to pollution concerns, Japanese auto major Toyota Motor Corporation is not rushing in to bring more models to the country and is taking it only "step by step". The company, which operates in India through a joint venture with the Kirloskar group, was among the worst hit by the Supreme Court ban on diesel cars and SUVs with engines of 2,000 cc and above in Delhi-NCR...

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Expect 100 bps improvement in cost of funds-:- Equity Research

DHFL has issued has issued non-convertible dentures (NCDs) worth Rs 10,000 crore with a coupon rate of 9.05-9.25 percent. In an interview with CNBC-TV18, Harshil Mehta said that the company's focus has been on improving its cost of funds and expects a 15-25 basis points (bps) improvement for the same in the short term. In the long term he expects a 100 bps improvement for the cost of funds. Mehta said that the company will looks to pass on the...

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Iran says will cooperate with OPEC to stabilize the oil mkt-:- Equity Research

Iran's oil minister said on Friday that Tehran will cooperate with Organization of the Petroleum Exporting Countries (OPEC) to stabilize the world market, but expects others to respect its rights, the ministry's news agency SHANA quoted him as saying. Asked about an oil output freeze plan, Bijan Namdar Zanganeh also said that Iran supports any effort to bring stability to the market. "Iran will cooperate with OPEC to help the oil market recover,...

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Specified borrower norms to hit banks with high current A/c-:- Equity Research

The Reserve Bank of India’s new norms for "specified borrowers" are likely to impact banks with higher current accounts, according to State Bank of India. SBI’s CASA stems more from savings accounts and not current account and is unlikely to be affected by the RBI’s directive for specified borrowers, said SBI Managing Director Parveen Kumar Gupta told CNBC-TV18. Under the new norms, the new class of borrowers like large corporates can only borrow...

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Trastuzumab marketing approval may come in 12-18 months-:- Equity Research

The European Medicines Agency (EMA) has accepted to review Mylan and Biocon ’s application for a biosimilar called Trastuzumab, used for certain breast and gastric cancers. Terming it as ‘milestone’ for the company, Biocon’s CMD Kiran Mazumdar Shaw says that marketing approval for the drug is likely to come in next 12-18 months. The addressable market for the drug is USD 7 billion, which opens up a huge opportunity for Biocon and Mylan both....

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Infosys says seeing client-specific softness after Brexit-:- Equity Research

IT services provider Infosys is seeing some 'softness' in clients after Britain voted in June to leave the European Union, a top company executive said during an analyst meet on Friday. Infosys will be in a better position by October to evaluate the impact of this on its earnings outlook for the current fiscal year ending March 31, 2017, Chief Financial Officer Ranganath D Mavinakere said. "We want to give a more accurate picture on guidance...

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MFs asset base from B15 cities up 19% to Rs 2 lakh cr-:- Equity Research

Contribution of small towns -- known as beyond the top 15 cities (B15) -- to mutual funds' asset base in India has surged 19 percent to Rs 2.02 lakh crore in last fiscal. Mutual funds' assets under management (AUM) from B15 grew from Rs 1.7 lakh crore in March 31, 2015 to Rs 2.02 lakh crore at the end of March this year, data available with markets regulator Sebi showed. A major portion of the products sold within this fast growing pocket of...

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NPCI's Unified Payments Interface goes live-:- Equity Research

National Payments Corporation of India (NPCI) today said the Unified Payments Interface (UPI) is live and currently available for customers of 21 banks. UPI is a payment solution which empowers a recipient to initiate the payment request from a smartphone. It facilitates 'virtual payment address' as a payment identifier for sending and collecting money and works on single click 2-factor authentication. "Real-time sending and receiving money through...

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Stalled payments relief likely for infrastructure cos: Sources-:- Equity Research

In a big boost to infrastructure companies, NITI Aayog is preparing a Cabinet note for infra related ministries — road transport, urban development, petroleum — to ease arbitration norms and release stalled payments of infra companies. This comes amid reports that about Rs 1.65 lakh crore of banks' Rs 3.65 lakh crore exposure to the construction sector is stressed. CNBC-TV18 learns that the new arbitration law note will address norms on disputes...

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More US firms probing Welspun over alleged phony Egyptian cotton-:- Equity Research

US retailer Bed Bath & Beyond said it ordered an external audit of textiles from Welspun India , after Target Corp last week accused the Indian manufacturer of passing off cheap sheets as premium Egyptian cotton for two years. This could compound the woes of Welspun, which supplies to several large US retailers and has seen its shares plummet nearly 43 percent since Target's announcement on Friday. The incident highlights the problems large...

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Nifty needs to go past 8,670 for strong August expiry -:- Equity Research

The 50-share Nifty needs to get past 8660-8670 zone to build some momentum and ensure stronger expiry for August futures series, says Mitesh Thacker of miteshthacker.com speaking to CNBC-TV18 in its Closing Bell segment. Nifty ended today's trade with mere 18 points gain at around 8650, while Sensex ended about 70 points higher at 28060. Ashwani Gujral of ashwanigujral.com notes the indices are trading in an extremely narrow...

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Walmart reviewing cotton certification records of Welspun -:- Equity Research

Global retail giant Walmart is reviewing cotton certification records of Welspun India in the wake of Target Corporation's decision to terminate contract with the Gujarat-based textiles maker over alleged lapses in products supplied to it. Confirming that Welspun supplies a number of products to Walmart, a spokesperson of the US retail major said: "We are currently reviewing Welspun cotton certification records and plan to have additional conversations...

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FSSAI to test honey samples to revise standards: Sources-:- Equity Research

The Food Safety and Standards Authority of India (FSSAI) is going to test honey samples on 21 parameters which have been set by a scientific panel. The data so generated will be used to revise standards. Around 10 market samples will be collected by FSSAI from 5 major players in distribution and manufacture of honey namely, Dabur , Patanjali, Baidyanath, Khadi and Himalayan. FSSAI will collaborate with the National Bee Board for collection of...

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Telecom consolidation is the writing on the wall:UBS's Mahadevan-:- Equity Research

Consolidation in the Indian telecom market is immiment and is an interesting theme to play for in the sector, Suresh Mahadevan, ‎Managing Director - Head of Asian Telecom and Media research at UBS AG tells CNBC-TV18. Mahadevan says his firm is bullish on the telecom space. He cites potential for strong growth in the data segment as a key trigger. Both globally and in Asia, regulators and telcos are realising it will be helpful to have a lot of...

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SBI to raise up to Rs 11,100 cr via perpetual debt-:- Equity Research

The board of State Bank of India on Wednesday approved a proposal to raise upto Rs 11,100 crore through perpetual debt. Anshula Kant, Deputy Managing Director and Chief Financial Officer at SBI said that the bank has been working on different ways to raise capital. The bank has strong capital adequacy at the moment and won't require any capital in the year, she told CNBC-TV18, adding that the decision on timeframe of the debt-raising will depend...

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GST promises to boost GDP growth rates by up to 2% -:- Equity Research

Describing the passage of the GST bill by Parliament as the single biggest reform measure in recent times, President Pranab Mukherjee said the move paves the way for creation of a unified market and promises to boost GDP growth rates by up to 2 percent. "It paves the way for creation of a unified market for goods and services, and promises to boost GDP growth rates by up to 2 percent over the medium and the long term," he said at a conference...

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Plan to add more capacity, raise Rs 30,000 crore in FY17 -:- Equity Research

India’s largest power generation company NTPC reported a 4.1 percent rise in profit to Rs 2,369 crore year-on-year. Total income from operations grew 11.5 percent to Rs 19,063 crore in Q1. The company plans to add 5,648 megawatts (MW) of capacity in the current fiscal, says Kulamani Biswal, Director - Finance, NTPC. In FY18, the plan is to add 6,298 MW capacity. Generation, he says, is usually lower in the second quarter. The plant load factor...

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Aurobindo Q1 profit seen up 30%, US biz may support revenue -:- Equity Research

Aurobindo Pharma 's profit in April-June quarter may jump 29.6 percent year-on-year to Rs 560.3 crore and revenue is seen rising 15 percent to Rs 3,810.7 crore, according to average of estimates of analysts polled by CNBC-TV18. Operating profit is likely to surge 24.1 percent to Rs 899.2 crore and margin may expand 180 basis points to 23.6 percent on yearly basis. Expectations -Revenue growth may be led by sustained traction in the US -US business...

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UNSW Australia to lend expertise in ONGC wells -:- Equity Research

The University of New South Wales (UNSW Australia), which claims a research breakthrough in increasing gas yields from coal seams manifold, will partner TERI to develop industrial application of the phenomenon in coal seams gas wells operated by state-run ONGC . "A novel Australian research breakthrough that promises to dramatically increase gas yields from coal seams and biogas plants will be trialled for industrial application for the first...

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Shriram EPC rises 20%, arm wins contract of Rs 1530 cr in Oman -:- Equity Research

Share price of Shriram EPC gained 20 percent intraday Tuesday as its subsidiary company won a order worth Rs 1,530 crore in Oman. Shriram EPC FZE, Sharjah, the 100 percent subsidiary of Shriram EPC, has bagged an order worth USD 230 million (Rs 1,530 crore) from Moon Iron & Steel Co (MISCO), Oman. The order includes constructing the Balance of Plant for a 1.2 MTPA mini mill project in Sohar, Sultanate of Oman and the project execution period...

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Invest in Adani Ports, says Deven Choksey-:- Equity Research

Deven Choksey of KRChoksey Investment Managers told CNBC-TV18, "There is no doubt about the prospects Adani Ports is carrying as far as the long-term investor is concerned. On one side you already have the higher amount of volume which is happening on all the ports and that is giving good amount of confidence because the volume improvements suggest that the company is going to have better operating performance in coming period. Also, the acquired...

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Response from Cairn shareholders to sweetened bid positive-:- Equity Research

Vedanta 's chief executive said the diversified Indian miner received "constructive feedback" from minority shareholders in Cairn India to a sweetened buyout offer, and was hopeful it can clinch the long-delayed deal. "We have reached out to all shareholders and we have held constructive discussions across the board...We look forward to the vote in the coming weeks," said Vedanta Chief Executive Tom Albanese, speaking in an interview with Reuters...

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FY17 EBITDA margin may stay over 11%: Transformers & Rectifiers-:- Equity Research

Transformers and Rectifiers posted a stellar set of earnings in what was a turnaround June quarter for the company. Speaking to CNBC-TV18, Jitendra Mamtora, Chairman of the company, said Transformers and Rectifiers will report profits for the full year and that the company is working at running capacity of 100 percent. He expects EBITDA margins to remain over 11 percent in FY17. As On June 30, 2016, the company's orders stood at Rs 868 crore,...

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Cost of funds to decline by 100 bps in a year-:- Equity Research

Dewan Housing Finance Limited (DHFL) is looking to raise additional Rs 10,000 crore in couple of more tranches, said CMD Kapil Wadhawan. Cost of funds will come down by approximately 100 basis points over the next one year, Wadhawan told CNBC-TV18. Non-convertible debentures (NCD) issuance will help DHFL reduce its cost of funds, he added. The company's bank funding proportion was almost 70 percent as of March 31, 201...

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FSSAI to issue new standards for milk, dairy products soon-:- Equity Research

The Food Safety and Standards Authority of India (FSSAI) is all set to address the Supreme Court’s concerns on milk adulteration by issuing new standards for milk and milk products, reports CNBC-TV18. Sources say FSSAI is working on a 3-pronged approach to ensure an overall assessment is done before final guidelines are rolled out and conducting pan-India milk quality survey to identify risk zones. The food regulator is reportedly taking into...

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Lenovo's first-quarter profit jumps 64%, beating estimates-:- Equity Research

China's Lenovo Group Ltd, the world's biggest personal computer (PC) maker, said on Thursday its first-quarter net profit rose 64 percent, beating estimates as solid PC sales offset tepid smartphone demand. Beijing-based Lenovo said in a filing that net profit grew to USD 173 million for the quarter ended June from USD 105 million in the same period a year earlier. That was more than the USD 130.1 million average of analysts polled by Thomson...

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Cisco to cut 5,500 jobs in shift from switches to software-:- Equity Research

Cisco Systems Inc said it would cut nearly 7 percent of its workforce, posting charges of up to USD 400 million in its first quarter, as the world's largest networking gear maker shifts focus from its legacy hardware towards higher-margin software. The gradual move to fast-growing sectors such as security, the Internet of Things and the cloud is a response to sluggish demand for Cisco's traditional lineup of switches and routers from telecom...

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Lupin tops most reputed pharma brand list-:- Equity Research

Domestic pharma majors Lupin, Sun Pharma and Cipla   have dominated the list of top reputed pharmaceuticals brand survey released. City-based Lupin Pharmaceuticals tops in reputation leading the country's most reputed pharmaceutical brands' list, as per 'Top Most Reputed Pharmaceutical Brand' study conducted by BlueBytes in association with TRA Research. Sun Pharmaceutical, with a 52 per cent Brand Rep Score and Cipla with 28 per cent...

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Brexit will create uncertainty but may not hit IT cos much-:- Equity Research

Brexit is a minor hiccup and it does not pose any significant threat to the Indian information technology companies in the long term, feels Vineet Nayyar, Executive Vice Chairman of Tech Mahindra   . Particularly in the banking, financial services and insurance (BFSI) space right now, emergence of advanced technology in the Fintech space is a major trend which could pose a challenge, he adds.  Speaking to CNBC-TV18 Nayyar says Brexit...

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Social media top priority for brands in customer outreach-:- Equity Research

Social media has become the top strategic priority for brands in India as they look for complete customer engagement, says a study. According to the annual Marketing Monitor study across the Asia-Pacific by global insights consultancy TNS, marketers across the region ranked social media as the top element guiding their planning process as well as the top metric used to measure performance of campaigns. TNS India MD, South India & Sri Lanka...

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Tree House board approves Zee Learn revised merger, ratio at 1:1-:- Equity Research

Tree House Education board has finally approved its revised merger deal with Zee Learn   . The deal had hit a road block after Zee Learn had started 're-evaluating its merger with Tree House'. As per the new merger scheme, shareholders of Tree House will get shares in Zee Learn in ratio of 1:1. In a statement to the exchanges, Tree House said that the merger evaluation committee, formed in June by the companies, has approved of the new...

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