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Friday, September 18, 2015

Equity Tips
SKS Micro drops on failing to bag small bank license
SKS Microfinance drops over 16%, touching to Rs376.65, after the company failed to bag the small bank license from the Reserve Bank of India. The Reserve Bank of India ( RBI) on Wednesday, September 16, 2015, granted 10 entities in-principle licences to open small finance banks. Ujjivan Financial Services, Janalakshmi Financial Services and Equitas Holdings are among the 10 entities. The others are Au Financiers (India), Capital Local Area Bank, Disha Microfin, ESAF Microfinance and Investments, RGVN (North East) Microfinance, Suryoday Micro Finance and Utkarsh Micro Finance.
                                                                 
DHFL up on bank license setback
Dewan Housing Finance Corporation Ltd (DHFL) rose nearly to Rs225, as the company failed to find a place on the list of 10 NBFCs that were granted small bank licenses by the Reserve Bank of India ( RBI).
                                                                               
Tata Steel to sell shares in Tata Motors worth up to $188 mn
Tata Steel Ltd will sell shares in automaker Tata Motors Ltd worth up to $188 million, according to reports on Friday. The shares are being offered in an indicative range of Rs324.50 to Rs338.05 each, with the deal worth up to Rs12.5 billion, the terms showed.The lowest price in the range represents a discount of up to 4% to their September 16 close of Rs338.05.

Tata Motors introduces new Safari Storme in Nepal
Tata Motors, engaged in the business of automobile products announced that it has introduced the updated version of its sports utility vehicle ( SUV) Safari Storme in Nepal which will be priced at NPR 42.25 lakh.
The company whose operating segments include automotive operations and all other operations will sell the LX variant of the vehicle at NPR 42.25 lakh and the high-end VX trim at NPR 56.85 lakh.
                                                         
Jubilant Life Sciences gets ANDA nod for Zolmitriptan ODT Tablets
Jubilant Life Sciences, an integrated global Pharmaceuticals and Life Sciences Company, has received Abbreviated New Drug Application ( ANDA) final approval from the US Food and Drug Administration ( USFDA) for Zolmitriptan Orally Disintegrating Tablets, 2.5 mg and 5 mg, the generic version of Zomig-ZMT® (of Astra Zeneca), which is used for acute treatment of migraine headaches in adults.

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