Hot Pursuit

The company made the announcement on Tuesday, 18 June 2013.

Meanwhile, the S&P BSE Sensex was down 27.26 points, or 0.14%, to 19,196.02.

On BSE, 17,000 shares were traded in the counter as against an average daily volume of 4.18 lakh shares in the past one quarter.

The stock hit a high of Rs 182.30 and a low of Rs 181 so far during the day. The stock had hit a 52-week low of Rs 174.20 on 13 June 2013. The stock had hit a 52-week high of Rs 272.45 on 5 October 2012.

The stock had underperformed the market over the past one month till 18 June 2013, sliding 10.28% compared with the Sensex's 5.24% fall. The scrip had also underperformed the market in past one quarter, falling 7.93% as against Sensex's 0.36% fall.

The large-cap state-run power equipment major has an equity capital of Rs 489.52 crore. Face value per share is Rs 2.

The World Bank-funded contract has been placed on Bhel by the Maharashtra State Power Generation Corporation (MSPGCL). With this order, Bhel has made an entry into the energy efficient renovation, modernisation and uprating business.

More and more utilties in the country are preparing to go in for renovation and modernisation of aging thermal units to extend the life of the plants as well as to maximize generation, Bhel said in a statement.

Bhel's scope of work in the contract involves design, engineering, manufacture, supply and erection & commissioning of critical parts of the boiler, turbine and generator, along with their controls & instrumentation. The order also envisages uprating of the unit.

Major equipment for the above contract will be manufactured and supplied by the company's plants at Trichy, Ranipet, Haridwar, Hyderabad and Bangalore.

Bhel's net profit fell 4.2% to Rs 3237.54 crore on 2.2% decline in net sales to Rs 18850.16 crore in Q4 March 2013 over Q4 March 2012.

Bhel is the largest engineering and manufacturing enterprise in India in the energy related/infrastructure sector. The company caters to the core sectors including power, transmission, industry, transportation, renewable energy, oil & gas and defence.

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Anil Dhirubhai Ambani-controlled Reliance Communications (RCom) surged 11.14% to Rs 123.70, extending recent gains. The stock topped the gainers in the BSE's 'A' group.

The stock hit a 52-week high of Rs 124.95 in intraday today, 18 June 2013. Shares of RCom have gained 17.25% in three trading sessions from the recent low of Rs 105.50 on 13 June 2013, with bulk of the gains coming from today's session.

Diversified firm Piramal Enterprises spurted 5.64% to Rs 560.30. The stock was second biggest gainer in 'A' group.

Commodity trading company Adani Enterprises galloped 4.81% to Rs 186.30. The stock was third biggest gainer in 'A' group.

Future Retail, earlier known as Pantaloon Retail (India), jumped 4.67% to Rs 137.75. The stock was fourth biggest gainer in 'A' group.

Financial software maker Financial Technologies (India) climbed 4.50% to Rs 812.85. The stock was fifth biggest gainer in 'A' group.

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Meanwhile, the S&P BSE Sensex was down 27.66 points, or 0.14%, to 19,298.21.

The Reliance Communications (RCom) stock surged on high volume. On BSE, 1.09 crore shares were traded in the counter as against an average daily volume of 60.74 lakh shares in the past one quarter.

The stock hit a high of Rs 124.95 so far during the day, which is also its 52-week high. The stock hit a low of Rs 111.15 so far during the day. The stock had hit a record low of Rs 46.60 on 30 August 2012.

The stock had outperformed the market over the past one month till 17 June 2013, falling 2.02% compared with the Sensex's 4.73% fall. The scrip had also outperformed the market in past one quarter, surging 67.12% as against Sensex's 0.52% fall.

The large-cap telecom company has an equity capital of Rs 1032.01 crore. Face value per share is Rs 5.

Shares of Reliance Communications (RCom) have gained 17.77% in three trading days from the recent low of Rs 105.50 on 13 June 2013, with bulk of the gains coming from today's session.

Meanwhile, telecom regulator Telecom Regulatory Authority of India (TRAI) on Monday, 17 June 2013 said it has reduced ceilings for national roaming calls and SMS and instituted a new regime for providing flexibility to telecom service providers to customise tariffs for national roamers through special tariff vouchers (STVs) and combo vouchers. TRAI has also mandated two types of free national roaming plans to be provided by all telecom service providers. These changes will come into effect from 1 July 2013.

As per the latest (TRAI) mandate, outgoing local call charges, while on roaming, will be capped at Re 1 per minute from Rs 1.40 earlier, while outgoing STD charges, while on national roaming, have been capped to Rs 1.50 from Rs 2.40 per minute earlier. The ceiling tariffs for incoming calls while on national roaming have been reduced from Rs 1.75 per minute to 75 paise per minute, TRAI said. Outgoing local SMS-es will cost Rs 1, while outgoing STD SMS will cost Rs 1.50. Incoming SMS will remain free of charge. The changes will be effective from 1 July 2013.

India is divided into 22 telecom zones. Currently, subscribers pay an additional fee for making and receiving calls when they are outside their home zone.

On 7 June 2013, Reliance Jio Infocomm, a subsidiary of Reliance Industries and RCom announced the signing of a definitive agreement for sharing the latter's nationwide telecom towers infrastructure.

Reports late May 2013 indicated that RCom has raised basic rates for both GSM and CDMA pre-paid mobile-to-mobile calls by 33% to 2 paise per second from 1.5 paise per second.

RCom on 10 May 2013 made full repayment of a syndicated ECB loan facility of $500 million (over Rs 2700) on the due date. The loan was taken in 2007 from a group of international bank, RCom said in a statement.

On 22 April 2013, RCom announced that Samena Capital in a proposed consortium with certain other global PE funds is at an advanced stage of the process of due diligence and completion of definitive documents in relation to the acquisition of the company's global communications services business unit -- Reliance Globalcom. The intended time line for completion of the transaction is end May 2013. At this point, there can be no certainty that this will lead to a transaction, RCom said. A further announcement will be made in due course, if and when appropriate, the company added.

RCom also said that it has discontinued discussions with Batelco Group for selling its sake in Reliance Globalcom. RCom had earlier said in March 2013 that it was in discussions with Batelco Group with respect to Reliance Globalcom.

RCom's consolidated net profit declined 8.73% to Rs 303 crore on 2.39% growth in total income from operations to Rs 5130 crore in Q4 March 2013 over Q4 March 2012.

RCom has established a pan-India, high-capacity, integrated (wireless and wireline), convergent (voice, data and video) digital network, to offer services spanning the entire infocomm value chain.

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The company made the announcement before trading hours today, 18 June 2013.

Meanwhile, the S&P BSE Sensex was down 42.99 points, or 0.22%, to 19,282.88.

On BSE, 6,047 shares were traded in the counter as against an average daily volume of 7,063 shares in the past one quarter.

The stock hit a high of Rs 468.85 and a low of Rs 446.50 so far during the day. The stock had hit a 52-week high of Rs 589 on 11 January 2013. The stock had hit a 52-week low of Rs 423.05 on 13 June 2013.

The stock had underperformed the market over the past one month till 17 June 2013, falling 6.66% compared with the Sensex's 4.73% fall. The scrip had also underperformed the market in past one quarter, falling 15.32% as against Sensex's 0.52% fall.

The small-cap company has an equity capital of Rs 5.31 crore. Face value per share is Rs 2.

VA Tech Wabag said the project involves construction of 85 million liter per day (MLD) water treatment plant at Sundarijal, Nepal, with options to expand up to 510 MLD at a later stage.

On a consolidated basis, VA Tech Wabag's net profit rose marginally by 0.02% to Rs 60.37 crore on 1.7% growth in total income to Rs 685.53 crore in Q4 March 2013 over Q4 March 2012.

The WABAG Group acts as a systems specialist and full service provider with a focus on the planning, installation and operation of drinking and waste water plants for local government and industry in the growth markets of Asia, North Africa, Middle East, the Central and Eastern Europe states. The Group represents a leading multinational player with a workforce of over 1,500 and has companies and offices in more than 20 countries.

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The announcement was made during market hours today, 18 June 2013.

Meanwhile, the BSE Sensex was up 34.03 points, or 0.18%, to 19,359.89.

On BSE, 1.09 lakh shares were traded in the counter as against an average daily volume of 30,136 shares in the past one quarter.

The stock hit a high of Rs 12.45 and a low of Rs 10.71 so far during the day. The stock had hit a record low of Rs 10.25 on 3 June 2013. The stock had hit a 52-week high of Rs 20.50 on 19 December 2012.

The stock had underperformed the market over the past one month till 17 June 2013, sliding 15.22% compared with the Sensex's 4.73% fall. The scrip had also underperformed the market in past one quarter, falling 16.6% as against Sensex's 0.52% fall.

The small-cap real estate developer has an equity capital of Rs 145.83 crore. Face value per share is Rs 10.

Nitesh Estates during market hours today, 18 June 2013 said that Nitesh Shetty, chairman & managing director, promoter of Nitesh Estates has released 1.11 crore equity shares of the company representing 7.66% stake from the pledge made with a financial institution by repaying the financial obligations. Following the release of pledged holding, Nitesh Shetty's shareholding in Nitesh Estates rose to 29.28% from 21.62%. Promoters' total holding in Nitesh Estates stood at 44.86% as at 31 March 2013.

On a consolidated basis, Nitesh Estates reported a net loss of Rs 51.33 crore in Q4 March 2013 over net profit of Rs 4.40 crore in Q4 March 2012. Net sales fell 82.5% to Rs 7.01 crore in Q4 March 2013 over Q4 March 2012.

Nitesh Estates, the real estate arm of the Nitesh Group, is an integrated property development company headquartered in Bangalore, with presence across 4 asset classes. Nitesh Estates develops state-of-the-art homes, hotels, office buildings and shopping malls.

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The announcement was made during trading hours on Monday, 17 June 2013. The stock has fallen 5.12% in two sessions from Rs 64.40 on 14 June 2013.

Meanwhile, the S&P BSE Sensex was up 38.14 points, or 0.20%, to 19,364.01.

On BSE, 4.55 lakh shares were traded in the counter as against an average daily volume of 94,587 shares in the past one quarter.

The stock hit a low of Rs 55.50 so far during the day, which is also a 52-week low for the counter. The stock hit a high of Rs 65.85 so far during the day. The stock had hit a record high of Rs 185.90 on 10 September 2012.

The stock had underperformed the market over the past one month till 17 June 2013, sliding 20.52% compared with the Sensex's 4.73% fall. The scrip had also underperformed the market in past one quarter, falling 13.41% as against Sensex's 0.52% fall.

The small-cap company has an equity capital of Rs 11.32 crore. Face value per share is Rs 2.

Shasun Pharmaceuticals announced that an illegal strike was resorted by the workers at the Pondicherry's active pharmaceutical ingredients (API) and formulations facility on 15 June 2013. The company said it is doing needful to resume the operations at the earliest.

Shasun Pharmaceuticals' consolidated net profit fell 77.5% to Rs 13.26 crore on 9.4% fall in net sales to Rs 261.45 crore in Q4 March 2013 over Q4 March 2012.

Shasun is an integrated, leading global supplier of development and manufacturing services for intermediates, API and formulations to the pharmaceutical industry.

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Ahmednagar Forgings clocked volume of 7.38 lakh shares by 12:54 IST on BSE, a 7.88-times surge over two-week average daily volume of 94,000 shares. The stock fell 0.47% to Rs 106.

Persistent Systems notched up volume of 1.01 lakh shares, a 7.73-fold surge over two-week average daily volume of 13,000 shares. The stock rose 0.46% to Rs 508.

Petronet LNG saw volume of 5.20 lakh shares, a 5.30-fold surge over two-week average daily volume of 98,000 shares. The stock rose 0.38% to Rs 131.05.

HT Media clocked volume of 5.35 lakh shares, a 3.80-fold surge over two-week average daily volume of 1.41 lakh shares. The stock rose 1.07% to Rs 99.50.

Mahindra Forgings saw volume of 11.77 lakh shares, a 3.35-fold rise over two-week average daily volume of 3.52 lakh shares. The stock rose 3.17% to Rs 68.40. The Mahindra Group and CIE Automotive S. A. (Spain) on Saturday, 15 June 2013, announced the signing of a global alliance agreement between Mahindra's automotive component businesses (held under its Systech Sector) and CIE Automotive (involving also its subsidiary Autometal). The agreement will see the formation of a global automotive component supply network with combined annual sales of approximately Rs 15000 crore or $3 billion with operations in North America, South America, Europe and Asia held through listed businesses in Spain, Brazil and India.

As part of the transaction, CIE Automotive, through one of its subsidiaries, will acquire from Mahindra Group a stake in its listed and unlisted companies belonging to Systech Automotive Component business and CIE Automotive will contribute its forging businesses in Spain and Lithuania and together consolidate all companies under Mahindra Forgings (MFL) which will be rechristened Mahindra CIE. Mahindra CIE will continue to be listed on BSE (Bombay Stock Exchange) and NSE (National Stock Exchange).

The share sale by Mahindra group will trigger open-offer provisions under the Securities Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations 2011. The proposed business transaction will be carried out in a series of steps over the next year that will culminate in Mahindra & Mahindra (M&M) taking a stake of 13.5% in CIE Automotive and CIE Automotive taking a majority stake in a single listed entity in India which will continue to operate the current Systech automotive component businesses globally and include CIE's European forgings operations. Post acquisition of 13.5% stake, M&M will be second largest shareholder in CIE. M&M will nominate 2 directors to the CIE board.

The Mahindra Systech business consists of five companies viz. Mahindra Forgings, Mahindra Ugine Steel Company, Mahindra Composites, Mahindra Hinoday Industries and Mahindra Gears.

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Meanwhile, the BSE Sensex was down 32.20 points, or 0.17%, to 19,293.67.

On BSE, 5.16 lakh shares were traded in the counter as against an average daily volume of 1.50 lakh shares in the past one quarter.

The stock hit a low of Rs 342.75 so far during the day, a 52-week low. The stock hit a high of Rs 366 so far during the day. The stock had hit a 52-week high of Rs 578.30 on 4 September 2012.

The stock had underperformed the market over the past one month till 17 June 2013, sliding 22.49% compared with the Sensex's 4.73% fall. The scrip had also underperformed the market in past one quarter, falling 16.72% as against Sensex's 0.52% fall.

The large-cap company has an equity capital of Rs 211.55 crore. Face value per share is Rs 5.

The Supreme Court will reportedly hear on 24 June 2013 a petition seeking probe against Ranbaxy Laboratories for allegedly manufacturing and selling adulterated medicines. The petition also sought sealing of all its manufacturing units here, including those in Paonta Sahib in Himachal Pradesh and Dewas in Madhya Pradesh, reports added.

Ranbaxy Laboratories had on 31 May 2013 said that all its products currently in the Indian and global markets are safe and efficacious. The company stands by the quality of every medicine that the company makes and distributes in India and every country around the world, it had said. The company's India facilities are routinely inspected by Drug Controller General of India and many other global regulatory agencies, Ranbaxy said at that time.

Ranbaxy Laboratories' majority shareholder Daiichi Sankyo had on 22 May 2013 said it believes former shareholders of the Indian company hid information regarding US regulatory probes.

Daiichi Sankyo believed that certain former shareholders of Ranbaxy had concealed and misrepresented critical information concerning the U.S. DOJ and FDA investigations, the Japanese company said in a statement on 22 May 2013, referring to the US Department of Justice and the Food and Drug Administration.

Daiichi Sankyo's statement came after Ranbaxy on 13 May 2013 agreed to pay a fine of $500 million for selling adulterated drugs in the US market and pleaded guilty to seven criminal counts, including intention to defraud and failing to report that its drugs did not meet specifications.

These violations were committed when Ranbaxy was owned by brothers, Malvinder Singh and Shivinder Singh.

Daiichi Sankyo, Japan's third-largest drug maker, had bought a 34.8% stake in Ranbaxy from the Singh brothers for Rs 10000 crore in June 2008. It subsequently made an open offer for another 20%. Daiichi currently holds 63.5% in the Indian company (as on 31 March 2013).

Ranbaxy Laboratories' consolidated net profit declined 89.9% to Rs 125.76 crore on 34.2% decline in net sales to Rs 2439.82 crore in Q1 March 2013 over Q1 March 2012. The company said that the profitability in Q1 March 2013 was lower than in Q1 March 2012 primarily because of the base effect. The revenue and profitability in Q1 March 2012 was boosted by contribution from exclusivity drug launches.

Ranbaxy Laboratories is an integrated, research based, international pharmaceutical company producing a wide range of generic medicines. Ranbaxy serves its customers in over 150 countries and has an expanding international portfolio of affiliates, joint ventures and alliances, ground operations in 43 countries and manufacturing operations in 8 countries. Ranbaxy is a member of the Daiichi Sankyo Group.

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The announcement was made after market hours on Monday, 17 June 2013.

Meanwhile, the S&P BSE Sensex was down 45.11 points, or 0.23%, to 19,280.76.

On BSE, 66,000 shares were traded in the counter as against an average daily volume of 32,110 shares in the past one quarter.

The stock hit a high of Rs 299.40 and a low of Rs 279.10 so far during the day. The stock had hit a 52-week high of Rs 358.05 on 15 May 2013. The stock had hit a 52-week low of Rs 196.95 on 26 July 2012.

The stock had underperformed the market over the past one month till 17 June 2013, sliding 17.53% compared with the Sensex's 4.73% fall. The scrip had, however, outperformed the market in past one quarter, rising 1.29% as against Sensex's 0.52% fall.

The small-cap company has an equity capital of Rs 10.54 crore. Face value per share is Rs 10.

Venus Remedies said the patent, which was granted by the Mexican Institute of Industrial Property (IMPI), protects the composition of Potentox.

Potentox is an antibiotic adjuvant entity (AAE), a drug effective in case of hospital-acquired pneumonia and febrile neutropenia infections, primarily caused by quinolones or aminoglycoside-resistant microbes.

The patent provides an exclusivity period for Potentox up to 2025. The drug is also protected by a number of other patents from various other countries, including USA, India, Australia, New Zealand, South Korea, South Africa, Canada and Ukraine.

The global hospital-acquired bacterial infections market was estimated to be worth $9 billion in 2010. Potentox is designed to address the needs of almost 50% of this market, Venus Remedies said in a statement.

Net profit of Venus Remedies declined 23.20% to Rs 11.95 crore on 10.19% rise in net sales to Rs 125.03 crore in Q4 March 2013 over Q4 March 2012.

Venus Remedies is a pharmaceutical company. By the virtue of having selected to specialise through the injectables route in high-growth therapeutic segments like anti-infective, oncology, cardiovascular and neurology, Venus Remedies is among the world's 10 leading fixed dosage injectables manufacturers. The company has a presence in 60 countries and covering more than 75 products.

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Meanwhile, the S&P BSE Sensex was down 23.44 points or 0.11% at 19,305.44.

The stock rose on high volumes. On BSE, 19.51 lakh shares were traded in the counter as against average daily volume of 5.67 lakh shares in the past one quarter.

The stock hit a high of Rs 65.70 and a low of Rs 63.65 so far during the day. The stock had hit a 52-week low of Rs 61.45 on Monday, 17 June 2013. The stock had hit a record high of Rs 102.45 on 14 September 2012.

The stock had underperformed the market over the past one month till 17 June 2013, sliding 29.99% compared with the Sensex's 4.73% fall. The scrip had also underperformed the market in past one quarter, falling 26.49% as against Sensex's 0.52% fall.

The mid-cap company has equity capital of Rs 50.40 crore. Face value per share is Re 1.

Shares of Apollo Tyres have dropped 30.49% in three trading days to Rs 63.95 on 17 June 2013 from a recent high of Rs 92 on 12 June 2013 on concerns on the company's balance sheet about the impact of a large US acquisition.

Apollo Tyres after trading hours on Wednesday, 12 June 2013 said that it has entered into a definitive merger agreement under which a wholly-owned step subsidiary of the company will acquire Cooper Tire & Rubber Company (Cooper), a company listed on the New York Stock Exchange, in an all-cash transaction valued at approximately $2.5 billion. This strategic combination will bring together two companies with highly complementary brands, geographic presence and technological expertise to create a global leader in tire manufacturing and distribution, Apollo Tyres said in a statement.

Cooper is the 11th largest tyre company in the world by revenue and it supplies premium and mid-tier tyres worldwide through renowned brands such as Cooper, Mastercraft, Starfire, Chengshan, Roadmaster and Avon. The combined company will be the seventh-largest tyre company in the world and will have a strong presence in high-growth end-markets across four continents, Apollo Tyres said. With a combined $6.6 billion in total sales in 2012, the combined company will have a comprehensive portfolio of signature brands and greater ability to cross-sell products in diverse countries with negligible overlap, Apollo Tyres said.

Apollo Tyres' consolidated net profit declined 9.7% to Rs 141.78 crore on 6% drop in net sales to Rs 3037.76 crore in Q4 March 2013 over Q4 March 2012.

Apollo Tyres manufactures tyres and tubes for cars, trucks, farm equipment and light commercial vehicles. The company also manufactures automobile flaps and retreading materials.

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