Intraday Tips for Tuesday Market

Updates will come soon.................

Commodity Research Report: Agri Fundamental and Technical report

Highlights: • Agri markets traded with high volatility but failed to take any clear direction as of now. • Good monsoon reports limited the upside while rising export and domestic demand amidst falling arrivals supported the prices at these lower levels after the recent fall. • All eyes are on IMD for further forecasts of sectoral distribution of rains. Any deficiencies in the North-West / Central regions of India could prove bullish for the markets. Also, as the rains reach the Andaman, any declarations by the IMD of Monsoon finally arriving could lead to start of the Monsoon session in the Indian sub-continent. Further price movements will be determined by its progress throughout the rest of India in coming weeks. • Reports of raising MSP (minimum support price) for crops too could lens some support to the prices in the short term.

Zydus Cadila gets USFDA approval to market Nystatin ointment

Zydus Cadila receives final approval to market Nystatin ointment and Omeprazoleand Sodium Bicarbonate capsule, from the US health regulator.

The company received approval to market Nystatin Ointment USP, 1,00,000 units per gram. Nystatin ointment is used to treat fungal infections. It has also received approval to market Omeprazoleand Sodium Bicarbonate Capsules, 20 mg/1100 mg and 40 mg/1100 mg, which is used to treat certain stomach and esophagus problems (such as acid reflux, ulcers).

Further, the drug will be manufactured at the group’s Topical manufacturing facility at Moraiya, Ahemdabad.

Bafna Pharma receives renewal certificate from UK MHRA

Bafna Pharmaceuticals has received renewal certificate, from UK Medicines and Healthcare products Regulatory Agency (MHRA).

The company’s facility, following the audit conducted has got renewal approval as per the guidelines of European Good Manufacturing Practices (EUGMP). Further, the board of directors of the company are scheduled to meet on May 28 to consider the unaudited financial results, for the quarter and the year ended March 31, 2018.

Torrent Pharma issues commercial papers worth Rs.300 crore

Torrent Pharmaceuticals has issued commercial papers worth Rs.300 crore, on May 25,2018.

The board of directors of the company are scheduled to meet on May 30,2018, to consider and approve the audited financial results for the year ended March 31,2018. Further, it will also consider the recommendation of final dividend for the year ended March 31, 2018.

IFFCO, IPL acquires 37% stake in JPMC

IFFCO and Indian Potash Ltd (IPL) have jointly bought 37% stake in Jordan Phosphate Mines Company (JPMC), which is Jordan’s largest mining and chemical firm, for approx Rs.900 crore.

The shares have been purchased from Kamil Holdings, owned by Brunei Investment Agency. IFFCO Managing Director U S Awasthi stated that, IPL  has bought about 27%, while IFFCO through its subsidiary Kisan International Trading (KIT) has purchased around 10% in JPMC.

Furthermore, IFFCO already has a joint venture with JPMC in Jordan India Fertilizer Company (JIFCO), in which it has 52% stake, while JPMC holds 48% equity in it.

NTPC Q4 net profit rises 40% at Rs.2,926 crore

NTPC has reported a 40.7% rise in its net profit, for the quarter ended March 31,2018 at Rs.2,926 crore, as against Rs.2,079.4 crore reported in a year ago period.

Revenue of the company rose 13% at Rs.23,100 crore, as against Rs.20,417 crore. EBITDA or the operating profit was up 8.2% at Rs.5,910 crore and margin was at 25.6%. Furthermore,the company’s board has recommended a final dividend of Rs.2.39 per equity share for the financial year 2017-18.