The 7th Global Investor Summit of Gujarat attracted many business leaders from India and abroad. They shared their views on various seminars that were held at Vibrant Gujarat. The session on healthcare received a phenomenal response in terms of audience attendance and dignitaries from medical sector sharing their views and ideas to improve the state of medical facilities through technology and innovation in Gujarat
Monday 23 February 2015
Nifty hovers around 8850; Midcap, Smallcap outperform
Ahead of the much-awaited Budget over the upcoming weekend, the market is expected to remain volatile over the next few days, is the word coming in from Sanjay Dutt, director, Quantum Securities. At the moment, the market is at the upper end of the trading range, he says. As expected, there will be a lot of noise in the run up to the Budget. But Dutt does not expect major changes on the tax front in the Budget. "The Budget needs to be a radical, out-of-the-box type of a Budget," he told CNBC-TV18. If it indeed turns out to be a Modi Budget, or if finance minister Arun Jaitley truly manages to deliver, there will be a big rally in the market, he adds. As far as the Railway Budget goes, all positives that may come from it are already priced in, he says. Certain core issues have been plaguing the Railways for many years now and if Suresh Prabhu has to bring the railways back on track, there is a need for some radical decisions on that front as well. Coming back to the markets, despite most investors increasing their IT play, Dutt says he will not be doing the same. According to him, IT is a crowded trade right now. He infact advises investors move money from the IT sector to some of the riskier assets and to buy banks on every dip. He sees the Nifty hitting 9500-9800 in the next 12 months. 10:20am Gold Update Gold hovered around the key USD 1,200-an-ounce level today, its lowest in seven weeks, as support for the safe-haven metal eased after a deal was struck over Greece's debt, while the absence of major consumer China also took a toll. Spot gold was little changed at USD 1,202.10 an ounce by 0225 GMT, after dropping to USD 1,197.95 in the previous session as safe-haven bids receded. The metal recorded its fourth straight weekly decline on Friday. Eurozone finance ministers reached an agreement to extend heavily indebted Greece's financial rescue by four months, officials on both sides said. The deal removes the immediate risk of Greece running out of money next month and possibly being forced out of the single currency area, reports Reuters. 10:00am Market Check The market remained firm with the Nifty hovering around 8850. Private banks, FMCG, technology, metals and healthcare stocks while heavyweights like HDFC, Reliance Industries were under pressure. The Sensex rose 71.45 points to 29302.86 and the Nifty advanced 17.75 points to 8851.35. The broader markets outperformed benchmarks with the BSE Midcap and Smallcap indices rising 0.4-0.6 percent. Nearly two shares advanced for every share declining on the Bombay Stock Exchange. Hindalco Industries topped the buying list, up 1.7 percent on getting Gare Palma IV/4 coal block at Rs 3,001 per tonne in coal auction. Sesa Sterlite was up over a percent as its subsidiary BALCO won Gare Palma IV/1 coal block at Rs 1,585 per tonne and the company also proposed its name change to Vedanta. Infosys, ICICI Bank, L&T, ITC, TCS, HDFC Bank, HUL, Wipro and Cipla gained 0.3-1 percent. GAIL, Bajaj Auto and Tata Steel fell more than 1 percent followed by HDFC and Reliance Industries with 0.4 percent loss.
Apollo Hospitals up 3.5%, signs MoU with European country
Investors bought more shares of Apollo Hospitals Enterprises on Monday. The Chennai-based hospital chain signed an agreement with the Republic of Macedonia to develop healthcare services in the Southeastern European nation. The stock gained 3.5 percent intraday. "The Memorandum of Understanding (MOU) provides for observerships and training courses for medical specialists, nurses, technicians and other health professionals from the Republic of Macedonia at various locations across the Apollo Hospitals network in India," Apollo Hospitals said in a statement. It also establishes efforts to provide telemedicine, educational opportunities and training over the next five years for Macedonia, it added. At 11:40 hours IST, the scrip of Apollo Hospitals Enterprises was quoting at Rs 1,374.90, up Rs 40.35, or 3.02 percent on the BSE
Thursday 19 February 2015
'Make in India' campaign will bear fruit: India Inc
What is India Inc expecting from Narendra Modi's maiden US visit? Shivinder Singh of Fortis Healthcare feels that Modi's visit will boost ties between the nations. Meanwhile, Preetha Reddy of Apollo Hospitals feels that the US visa regime must be relaxed. Classic | Mobile Fortis Health stock price On February 19, 2015, Fortis Healthcare closed at Rs 142.60, down Rs 2.65, or 1.82 percent. The 52-week high of the share was Rs 151.35 and the 52-week low was Rs 93.10. The latest book value of the company is Rs 80.16 per share. At current value, the price-to-book value of the company was 1.78.
No intent to exit all mkts but focus on India biz: Fortis
Fortis Healthcare is up 9 percent intraday today after the company announced the divestment of its 100 percent stake in RadLink Asia, its Singaporean diagnostic and molecular imaging unit for Rs 660 crore. Speaking to CNBC-TV18, CEO Aditya Vij says the intent of the company is not to completely exit all its markets but to concentrate on the Indian businesses. After this divestment, Fortis will have only one hospital outside India which is Colorectal Hospital in Singapore. Post stake sale, the company is expected to cut down its debt to Rs 400 crore from the current Rs 900 crore. Financial services group Macquarie sees the divestment as a positive step, as it will deleverage the balance sheet further and return complete focus to domestic business.
Wockhardt rises 5% on Citi upgrade post firm Q3 results
Shares of Wockhardt rose 5 percent intraday on Monday after Citi upgraded the stock to buy from sell. The brokerage has also revised its target price to Rs 1880 per share following firm December quarter results. Citi has even increased its FY16-17 core EPS by 2/10 percent based on progress on regulatory front and stated that resolution of 483s at Morton Grove is positive. It also adds that risk-reward looks reasonable for Wockhardt. Meanwhile, last week Macquarie also had upgraded Wockhardt to outperform from neutral with a revised one-year target of Rs 1700 (from Rs 410) per share. The brokerage had a cautious view on the stock for past year, awaiting better visibility by regulatory issues and future approvals but Form 483 issued by the US FDA in early 2014 on the Morton Grove US facility has now been resolved, which provides significant comfort around the sustainability of the remaining US business. Wockhardt’s consolidated total income rose 11.8 percent (up 34.3 percent Q-o-Q) to Rs 1,382 crore during October-December quarter from Rs 1,236.4 crore in the year-ago period. At 13:14 hrs Wockhardt was quoting at Rs 1,289.95, up Rs 54.60, or 4.42 percent on the BSE.
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