Prakash Constrowell IPO with a price range of 130-138/sh closes today QIB's: 0.31 times (x) NII's: 0.52x RII's: 1.40x Overall: 0.73x RDB Rasayans IPO of 45 lakh shares with a price range of 72-79/share opens today
Pharma FDI -Commerce minister Anand Sharma writes to PM on pharma FDI -Anand Sharma critical of Arun Maira panel on pharma FDI -Arun Maira is member, planning commission -Anand Sharma points fingers at delay in Maira recommendations -'Time has elapsed in forming panel, terms of reference' -'Deliberations of panel are getting prolonged' -'Meanwhile, possible takeovers of indian pharma companies' -'Concerted attempt to blunt challenge of Indian generics' -'Indian generics are a major challenge to MNCs' -'Merit in concerns of Health Ministry on pharma takeovers' -'Seeks FDI in pharma to be put on approval route' -'Okay with 100% FDI via auto route only for greenfield' -'Possibility of MNCs working in tandem as cartel' -'If takeovers allowed at same, production capacity to be limited' -'Adequate capacity does not exist public sector pharma' -Arun Maira panel asked to promote pharma investment
Kishore Biyani on DIPP says -New definition of group co what industry wanted -New definition has removed doubts; is clearer -New definition specifies permissible wholesale extent -DIPP's new definition eases definition of group co -Foreign wholesalers could sell only 25% to front-end group company -No govt statement has suggested direct FDI in retail -Never said in talks with Carrefour -Will confirm if in talks with Carrefour after FDI allowed -Affordable rent mantra of mall developer, retailer partnership -Festive sales in the east showing positive trend
CBI submits report in SC against Dayanidhi Maran, Arun Shourie Sources say -No clean chit to Maran, no evidence against Arun Shourie -Investigations still on against Pramod Mahajan -Essar-Loop chargesheet delayed again
HCL Tech : Sources -HCL Tech likely to have bagged part of Deutsche Bank IT contract -Deal for IMS, managed services, application development -Deal likely to be around USD 300 million over 5 years -Part of Deutsche Bank deal awarded to TCS HCL Tech says -Cannot comment on market speculation
Lupin gets US FDA approval for Oral Contraceptive Norethindrone -To start shipping generic Norethindrone to US shortly
Other stocks and sectors that are in news today: - KS Oils sale may hit a hurdle as accounting issues & a loss of around Rs 400 crore deters buyers (ET) -Future Group in talks for a JV with Japanese based Convenience Store Chain. Japanese company to invest Rs 3000 crore in first tranche (ET) -HDIL to sell Virar Land to raise Rs 650 crore & repay its debt; company has put 5 million sqft of land of the block & already sold 1 million sqft to local developer (ET) -Welspun Infra buys 50% in a Rs 400 crore project developed by ARSS Infra in Orissa (ET) -Kerala to take back 85 acre land back from Suzlon, govt says the company encroached on people's land (BS) -TPG, Shriram Group could split Vishal Retail partnership on Shriram group's inability to infuse more money (FE) -NTPC to use spare land to cross acquisition hurdle (FE) -Voltas leads race to buy Wipro's water business -Australian based Legacy Iron Ore approves NMDC bid for acquiring a majority stake for around Rs 158 crore (Mint) -Monsoon sinks Coal India output hopes as production to remain flat due to excessive rains in eastern India; hopeful of 5% growth (DNA) -Mundra Project may cause Tata Power a Rs 500 crore loss on Indonesia's decision to benchmark its coal to international prices (DNA) -L&T set to partner Hindustan Shipyard for ship building (BS) -Ex Date: Bajaj Hindusthan Rights Issue in the ratio of 2:1 at premium Rs 36/sh ((CMP: 46.95)) -F&O ban: ABG Shipyard, Gitanjali Gems -Govt says lifts ban on onion exports
