05/10/2015

The Sensex ended up 66.12 points or 0.25 percent to 26220.95 and the Nifty ended

up 2.00 points or 0.03 percent to 7950.90.

IT services firm HCL Technologies stuck out as the biggest Nifty loser after it

sounded revenue alarm owing to adverse currency movement and issues with a

client in the public services vertical.Maruti was another big loser following lower-

than-expected September vehicle sales.

NIFTY 7948.90 7992.05 8008.25 7930.65 7950.90 0.03%

NIFTY JUNIOR 19609.75 19765.10 19808.25 19629.50 19752.40 0.73%

LIX 15 3085.50 3082.25 3083.35 3045.45 3055.45 -0.97%

MIDCAP 50 3201.35 3228.70 3236.70 3188.55 3201.20 0.00%

CNX Bank 17216.30 17362.95 17390.60 17111.65 17150.20 -0.38%

CNX Finance 7048.10 7118.00 7118.00 6980.70 6996.15 -0.74%

CNX IT 12032.10 11877.85 11998.70 11769.50 11867.85 -1.37%

CNX Pharma 12918.75 13050.15 13183.05 13042.10 13140.85 1.72%

NIKKEI 225 17479.97 17831.58 17389.57 17722.42 1.89%

HANG SENG 20795.93 20939.39 20683.11 20846.30 1.39%

TAIWAN 8194.30 8317.79 8170.78 8295.94 1.38%

SSE 3052.84 3073.30 3039.74 3053.32 0.50%

M&M completes acquisition of 33% stake in Mitsubishi Agri

M&M on Thursday completed USD 25 million acquisition of 33 percent stake in Mitsubishi

Agricultural Machinery Co, which has been renamed as Mitsubishi Mahindra Agricultural Machinery

Co. Mahindra & Mahindra, which had announced the acquisition in May this year, said in a statement

that the two companies entered into a capital tie-up through a third party allocation of new shares.

As a result of the capital infusion, Mitsubishi Heavy Industries now owns 66.7 percent and M&M 33.3

percent in Mitsubishi Agricultural Machinery (MAM).

Starting from October 1, 2015 the name of the company (MAM) has been changed to Mitsubishi

Mahindra Agricultural Machinery Co, it said, adding a new organisational structure has also been

announced.

Under the new structure, Katsumi Tottori, former President of MAM, has been appointed as CEO of

the new entity, while Sudhir Jaiswal, ex-VP Commercial Business and Planning, International

Operations of M&M, will be the CFO.

It further said Takahiro Hisano, former VP and General Manager of Development and Design at

MAM, will be the CTO and Senior Vice-President, it added.

Opportunity to enter Sun Pharma

"Within pharma if you are in a good company you just stay there. But if somebody wants to

invest, let us say, there are a lot of people who are not in pharma or not as much as they should

be, Sun Pharma is an opportunity. The stock has gone through a deep correction, it is now

building the right base for that move that we have already seen in Lupin and Dr Reddy's

Laboratories ."

Sun Pharmaceutical Industries closed at Rs 891, up Rs 19.80, or 2.28 percent. It has touched

an intraday high of Rs 895 and an intraday low of Rs 873.25.

BUY SUNPHARMA ABOVE 890 TGT 920 SL 860.

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