Stock Intraday Tips For Buy Sell Today
• Lupin is eyeing to take full control of the South African drug firm Pharma Dynamics (PD) by acquiring the remaining 40% in the company. As per the agreement, the founders will exercise their put option before March 31, 2015, for the 40% equity stake it currently holds. On completion of this transaction, PD will become a wholly owned subsidiary of Lupin, subject to closing conditions.
• The trade unions representing Tata Steel’s employees in the UK are mulling an industrial action against the steel maker owing to disagreements arising over employee pension benefits. The disagreement is over how the deficit in the BSPS deficit be funded with the unions opposed to the Tata Steel’s proposal to cut certain employee benefits like caps on pensionable pays and provisions on early retirements.
• The Mumbai wing of the Directorate of Revenue Intelligence (DRI) has slapped a Rs 2,600-crore notice alleging over-invoicing of imported capital goods by three companies of the Ruias-promoted Essar Group: Essar Oil, Essar Power and Essar Projects. Last year, the DRI slapped a similar notice to the tune of R5,500-crore on two companies of the Gautam Adani-led Adani Group. The Essar Group has come under DRI scanner for alleged overinvoicing of capital good imports.
• Suven Life Sciences has been granted a patent each by the US and New Zealand for a drug used in the treatment of neuro-degenerative diseases. The patents are valid until 2030 and 2031, respectively. These granted patents are exclusive intellectual property of Suven and are achieved through the internal discovery research efforts.
