Watch Our Live Call Update: February 2018

Wednesday, 28 February 2018

Granules India’s Chantilly facility received EIR from USFDA- 28 Feb 2018

Granules India has reported that USFDA has issued an Establishment Inspection Report (EIR) for Granules Pharmaceuticals Inc facility in Chantilly, USA. This facility was inspected by USFDA in December 2017 and had issued one Form 483 observation. The company has said that it responded to the observation within stipulated timeframe.This facility is recently established by Granules in the US and has spent ~Rs220cr in capex. This is a 100,000-sq foot facility and has R&D and formulation capabilities. Company expects to start manufacturing from this site. Company expected to increase the investment at this site going ahead.

CapitalStars Award Winning , SEBI registered , ISO certified investment advisory company. We provide intraday & positional services in Equity , derivative ,commodity & currency. Our research is highly skilled & experienced .

capitalstars Services

Investment & Trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.CapitalStars Investment Adviser: SEBI Registration Number: INA000001647

Tuesday, 27 February 2018

PNB says unauthorized transactions can increase by $204.25mn, stock down 13% - 27 Feb 2018

PNB says that quantum of reported unauthorized transactions can increase by $204.25 mn (~Rs1,300cr). These frauds would propel bank to make higher provisions in the coming period which would dent its profitability.Punjab National Bank had announced on February 14, 2018, that it had unearthed a $1.77 bn fraud at a branch in Mumbai. The fraud includes the issue of unauthorized letters of undertaking that was used mainly by firms led by Nirav Modi and his uncle, Mehul Choksi.

capitalstars Services

Monday, 26 February 2018

Dr Reddy's receives unfavourable EIR for its Srikakulam plant- 26 Feb 2018

Dr Reddy’s has announced that the company has received an unfavorable Established Inspection Report (EIR) for its API facility in Srikakulam. The EIR mentions of OAI (official action indicated) meaning that company will have to provide more details to the USFDA. This means that the plant will continue to remain under the warning letter and one has to see the next course of the action by USFDA. The OAI is issued when there are objectionable conditions found at the manufacturing facility.The company has indicated that the company continues to market drugs in the US markets despite the warning letter, however, it has implications for the future drug approvals. Srikakulam plant has two dosages i.e. oral solid and topicals. The company has launched gRenvela from this site while gCopaxone has also been filed from this site.

capitalstars Services

Friday, 23 February 2018

Top 5 sectors which are looking attractive post 2000-point drop in Sensex from highs- 23 Feb 2018

Global and domestic equity markets have undergone a sharp correction since early February, erasing almost all gains generated in the previous month. The correction has been largely on account of increasing concerns around rising bond yields and inflation.

A few sectors that look attractive post the recent correction are as follows:

Information Technology:

Private sector banks:

Consumer Discretionary and Staples:

Automobiles:

Engineering & Infrastructure:

capitalstars Services

Thursday, 22 February 2018

Reliance Infrastructure bags Rs3, 647 cr EPC order- 22 Feb 2018

Reliance Infrastructure Limited has won a prestigious engineering, procurement and construction (EPC) contract for Rs3,647cr from Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO) for balance of plant (BoP) package and allied civil works for 2 x 800 MW supercritical coal-based Uppur Thermal Power Project at Ramanathapuram District in Tamil Nadu.The contract entails design, engineering, supply, erection, testing and commissioning of BoP package and allied civil works on EPC basis. The project is to be commissioned in 36 months. EPC division of the infrastructure major has won the contract in International Competitive Bidding amidst competition from leading EPC players like BHEL, L&T, Tata Projects and BGR. With this contract, Reliance Infrastructure Limited’s EPC order book now stands at over Rs15, 000cr.

capitalstars Services

Wednesday, 21 February 2018

Aurobindo Pharma gets approval for gTreximet- 21 Feb 2018

Media reports suggests that Aurobindo Pharma has received USFDA approval for gTreximet. The orange book search indicates that approval was given on February 15, 2018. Treximet tablet (Naproxen Sodium; Sumatriptan Succinate) is made by Pernix.The drug originally belongs to GSK Pharma, who has sold the US rights of this drug to Pernix. Pernix has agreed to pay GSK $250 million upfront for the US rights as well as $17 million additional payments on approval of the drug in US for paediatric use. Treximet is used to treat acute migraine headaches with or without aura in patients, 12 years of age and older.

capitalstars Services

Tuesday, 20 February 2018

JSW Energy Limited inks MoU with Government of Maharashtra for EVs- 20 Feb 2018

JSW Energy Limited entered into a Memorandum of Understanding (MoU) with the Government of Maharashtra for setting up facilities for manufacturing of electric vehicles (EVs) and energy storage systems. In September 2017, JSW Energy had inked MoU with Government of Gujarat for setting up a facility in Surendranagar district for making EVs. The company has committed Rs4, 000cr for the Gujarat plant. Financial commitment for its investment in Maharashtra is yet to be revealed. JSW Energy plans to launch its EV in the next three-four years and is looking at potential OEM partners for it. JSW Energy, an integrated power company, generates and sells power in India. The company operates 4,531 MW of power generation facilities as of FY17. Its Vijayanagar and Ratnagiri plant have capacity of 860 MW and 1,200 MW, respectively and utilize imported thermal coal. JSW Energy generated 12,517mn units in 1HFY18.

capitalstars Services

Monday, 19 February 2018

PNB hits over 1-year low, pulls down Nifty PSU Bank index- 19 Feb 2018

Shares of Punjab National Bank hit over a 1-year low and extended their fall for a fourth straight session following the ~Rs11,600cr fraud at one its Mumbai branches.UCO Bank, in its filing on BSE, reported an exposure of ~Rs2, 633cr in the Punjab National Bank fraud case. UCO Bank’s Hong Kong branch has been negotiating export documents against letters of credit issued through authenticated SWIFT messaging by Punjab National Bank.