Daily Bulletin (14th June, 2019)

There are no current notifications of our companies on this date.


1. Scrip code : 539524
Name : Dr. Lal Pathlabs Limited
Subject : Announcement under Regulation 30 (LODR)-Acquisition
Please take note that the Board of Directors of Company’s Wholly Owned Subsidiary viz. PathLabs Unifiers Private Limited, in their meeting held on June, 13, 2019, approved signing a binding term sheet for acquisition of 70% equity stake in a ‘New Company to be incorporated’ by Mrs. Vinita Kothari and Mrs. Sushila Dalal. According to the Term Sheet, the ‘New Company to be incorporated’ will house the business of: 1. M/s. ‘Central Lab, Indore’ a Partnership concern having Mrs. Vinita Kothari and Mrs. Sushila Dalal as its partners and engaged in Pathology Business in the State of Madhya Pradesh. 2. M/s. ‘Vinita Kothari’ a Proprietorship concern of Mrs. Vinita Kothari, a Histopathologist engaged in processing of Histopathology samples. before PathLabs Unifiers Private Limited buys 70% stake of ‘New Company to be incorporated’.

2. Scrip code : 532129
Name : Hexaware Technologies Ltd.
Subject : Announcement under Regulation 30 (LODR)-Acquisition
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform that Hexaware Technologies Inc., a wholly owned subsidiary of Hexaware Technologies Limited, India has acquired 100% shares of Mobiquity Inc. and Hexaware Technologies Limited has acquired 100% shares of Mobiquity Softech Private Limited (wholly owned subsidiary of Mobiquity Inc.) Please find below the disclosure in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and the detailed press release.

3. Scrip code : 500520
Name : Mahindra & Mahindra Ltd.
Subject : Announcement under Regulation 30 (LODR)-Acquisition
With reference to the captioned subject, we would like to inform you that, the Company has today signed a Share Subscription Agreement for subscribing up to 300 Common shares and 30,469 Series B Preferred Shares (‘Shares’) which on an as-converted to Common shares basis would result into 11.25% of the Share Capital of Gamaya SA, Switzerland, on a fully diluted basis.

4. Scrip code : 513023
Name : Nava Bharat Ventures Ltd
Subject : Corporate Action-Updates on Buy back
Sub: Information regarding the shares bought-back via open market through Stock Exchanges With reference to the subject cited above, we hereby submit the daily report pursuant to Regulation 18(i) of the SEBI (Buy Back of Securities) Regulations, 2018 regarding equity shares bought back by Nava Bharat Ventures Limited on June 14, 2019.

5. Scrip code : 539978
Name : Quess Corp Limited
Subject : Update On The Letter Of Offer Made By Conneqt Business Solutions Limited Along With Quess Corp Limited To The Shareholders Of Allsec Technologies Limited.
This is an update to our stock exchange intimation dated June 3, 2019 wherein we had stated that the Conneqt Business Solutions Limited, which is a subsidiary of Quess Corp Limited, has acquired equity shares of Allsec Technologies Limited , representing 61.35% of the total share capital. Please note that the Letter of Offer has been dispatched to the shareholders of Allsec Technologies Limited in relation to the open offer made to such shareholders by Conneqt Business Solutions Limited, a subsidiary of the Company (the “Acquirer”), along with the Company (which is acting as a person acting in concert with the Acquirer in relation to such open offer). Kindly take the above information on your record.

6. Scrip code : 530075
Name : Selan Exploration Technology Ltd.
Subject : Announcement under Regulation 30 (LODR)-Daily Buy Back of equity shares
Daily Buyback Reporting

7. Scrip code : 532819
Name : MindTree Limited
Subject : Updates on Open Offer
Axis Capital Ltd & Citigroup Global Markets India Pvt Ltd (“Managers to the Open Offer”) has submitted to BSE a copy of Advertisement in accordance with Regulation 18(7) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (as amended) and Corrigendum to the Detailed Public Statement with respect to the Open Offer to the Shareholder of MindTree Ltd (“Target Company”).

8. Scrip code : 539450
Name : S H Kelkar and Company Limited
Subject : Outcome of Board Meeting
The Board has approved buyback of 33,00,000 equity shares of the Company and acquisition of remaining equity shake of Creative Flavours and Fragrances (CFF)

Caplin Point Laboratories Ltd.

Caplin Point Laboratories Ltd.
FV – Rs 2; 52wks H/L – 535/304.75; TTQ – 4274 Lacs; CMP – Rs 425 (As On June 14, 2019);
Market Cap – Rs 3215 Crs


Caplin Point Labs
Company Equity Capital Net Worth Long Term Debt Total Sales PAT BV EPS P/E P/BV Industry P/E Promoter’s Holdings Beta
Rs Cr. Rs Cr. Rs Cr. Rs Cr. Rs Cr. Rs Rs %
2019 15.1 597 0.29 668 176.56 78.9 23.3 18.3 5.4 28.0 69.0 0.99
2018 15.1 364 0.32 539.8 144.64 48.1 19.1 22.4 8.9 28.0 69.0 0.99

Consolidated Financials and Valuations (Amt in Rs Crs unless specified)


Consolidated Financial Trends (Rs. Cr.):

Particulars FY19 FY18 FY17 FY16
Equity Paid Up 15.1 15.1 15.1 15.1
Networth 597 364 224 128
Total Debt 0.29 0.32 0.48 0.73
Net Sales 648.69 539.84 401.64 238.72
Other Income 19.03 12.67 9.83 3.66
PAT 176.56 144.64 96.05 45.77
Book Value (Rs) 78.9 48.1 29.7 17
EPS (Rs) 23.3 19.1 12.7 6.1



Mr. C. C. Paarthipan: Chairman

Dr. Sridhar Ganesan: Managing Director

Muralidharan D: Chief Financial Officer

Vinod Kumar S: Company Secretary


Major Non – Promoter Holdings:

Non – Promoters No. of Shares held % shares held
MATTHEWS INDIA FUND 3,870,311 5.12
IEPF 1,460,631 1.93
Bodies Corporate 1,372,737 1.82



  • Caplin Point was established in 1990 to manufacture a range of ointments, creams and other external applications.
  • The Company was listed in 1994 following its Initial Public Offering (IPO) which was oversubscribed 117 times, the proceeds of which were deployed in setting up a manufacturing facility at Pondicherry. Thereafter, the Company expanded its product range and increased its production capacity.
  • The Company focused on the emerging markets of Latin America, Caribbean, Francophone and Southern Africa and is today one of the leading suppliers of Pharmaceuticals in these regions, with over 2800 product licenses across the globe.
  • The Company is entering into the Regulated Markets for Injectables through its state of the art manufacturing facility, capable of handling Liquid Injectables in Vials, Ampoules, Lyophilized Vials and Ophthalmic dosages. The facility is approved by US FDA, EU-GMP, ANVISA-Brazil and INVIMA-Colombia.

Gruh Finance plunges 7% as HDFC mulls reducing stake

Gruh Finance traded with volumes of 72,19,000 shares, an increase of 10,413.24 percent compared to its five-day average of 68,666 shares on the BSE.

Gruh Finance shares fell 7.5 percent intraday on June 14 after media reports indicated that HDFC might sell part of its stake in the company ahead of Bandhan Bank merger.

On June 13, CNBC-TV18 reported that HDFC could offload 4.2 percent stake in Gruh Finance on June 14 and the base deal size could be around three crore shares with an upsize option.

HDFC has been gradually paring stake in Gruh to meet RBI conditions for Bandhan Bank merger. The housing finance company recently sold 4.47 crore equity shares representing 6.10 percent of paid-up capital of Gruh.

Of the 4.47 crore shares sold, 1.22 crore were sold at an average price of Rs 260.07 on March 28 and 3.25 crore shares at Rs 310.126 per share on May 24.

“The Corporation being a shareholder of Gruh is entitled to 14.96 percent of post-amalgamation paid-up capital of Bandhan, based on the share exchange ratio. However, the RBI has directed the corporation to hold 9.9 percent or less in Bandhan Bank post the merger. The sale reported under the disclosure is a part of the said transaction,” HDFC had said in an exchange release announcing the offloading of the stake in May.

The RBI had in March granted its approval for the proposed scheme of amalgamation between Gruh Finance and Bandhan Bank.

The stock was quoting at Rs 288.35, down Rs 20.15, or 6.53 percent while Bandhan Bank, too, was down 2 percent at the time of publishing this copy.


Hexaware Technologies acquires US firm Mobiquity, share price rises after three days

Mobiquity group revenue stood at $70 million for the year ended December 31, 2018.

Hexaware Technologies share price rose in early trade today after the Mumbai-based firm announced the acquisition of 100% stake in US firm Mobiquity for a total consideration of $182 million (Rs 12,657 crore) to expand its cloud and automation service offerings. Hexaware Technologies share price rose up to 3.64% to Rs 358.55 compared to the previous close of Rs 345.95 on BSE.

Hexaware Technologies share has gained after three days of consecutive fall.  Hexaware Technologies share price has fallen 20% during the last one year and gained 7% since the beginning of this year.

Rakesh Jhunjhunwala, wife Rekha have earned Rs 915 crore with Titan Company stock since March this year

The deal will help Mumbai-based Hexaware gain traction in its banking and pharmaceutical verticals, through Mobiquity’s digital products.

Hexaware will pay $131 million upfront to Mobiquity and a deferred consideration of $51 million will be paid based on earnouts, the company said.

US-based Mobiquity makes digital products for partners including Amazon’s AWS, Netherlands-headquartered software company Bankbase, Rabobank, Philips, Wawa, Backbase and Otsuka.

Mobiquity group revenue stood at $70 million for the year ended December 31, 2018.

This acquisition would help gain traction in banking and pharma verticals, which are the focus areas for Hexaware. It also, brings in valued partnerships particularly with AWS and Backbase, the Indian firm said. Mobiquity adds to Hexaware’s global delivery footprint with its centers in Florida, Boston, Philadelphia, New York, Amsterdam, Pune and Ahmedabad.

This stock was valued just Rs 4 in 2009, now it’s worth over Rs 650!

Mobiquity is an independent customer experience consulting firm specializing in creating frictionless multi-channel digital experiences and leveraging cloud technologies.

Commenting on the deal, R Srikrishna, CEO of Hexaware Technologies said “Hexaware enters an exciting new phase of growth and capability with the acquisition of Mobiquity Inc. Mobiquity strengthens two of our key strategic offerings: Cloudify Everything and Customer Experience Transformation. We are seeing a strong demand for these capabilities and, with this acquisition, we will be able to further accelerate our contributions to our customers’ business growth. Both Hexaware and Mobiquity have created very strong impact for their clients and have a mutually complementing position. Our combined capabilities will enhance our market positioning and opportunity to make an impact for our clients. ”

John Castleman, CEO of Mobiquity Inc said he is excited about the growth prospects. “Today we start a bold new chapter in Mobiquity’s growth story. joining hands with Hexaware gives us added scale, a broader portfolio of offerings that are relevant to our clients’ digital journeys, and the opportunity to strengthen the Mobiquity brand.”


Dr Reddy’s to sell 2 neurology branded products to Upsher-Smith Labs for over $110 mn

“Under the agreement, Dr Reddy’s will receive USD 70 million as upfront consideration, USD 40.5 million in near-term milestones and additional financial considerations including, existing contractual obligation and inventory,” the company said in a regulatory filing.

Dr Reddy’s Laboratories on Friday said it has entered into a definitive agreement with Upsher-Smith Laboratories to sell the US and select territory rights of its neurology branded products — Tosymra and Zembrace — for over USD 110 million (approx Rs 765 crore).

“Under the agreement, Dr Reddy’s will receive USD 70 million as upfront consideration, USD 40.5 million in near-term milestones and additional financial considerations including, existing contractual obligation and inventory,” the company said in a regulatory filing.

Subsequently, Dr Reddy’s said it will receive sales-based royalties on a quarterly basis.

Both the products are commercialised through Dr Reddy’s wholly-owned subsidiary, Promius Pharma.

The company said Tosymra and Zembrace were designed and developed with the goal of addressing unmet needs of large but discrete segments of patients suffering from episodic migraine who need options other than their current therapies.

Dr Reddy’s Laboratories Co-Chairman and CEO GV Prasad said, “This is a testament to our strong research and development capabilities, and delivering solutions to unmet needs of patients. In a short time, we created a well-recognised migraine specialty business in the US and we look forward to our partnership with Upsher-Smith”.

The closing of the transaction is subject to various customary closing conditions, the company said.

Shares of Dr Reddy’s were trading 1.44 per cent lower at Rs 2,549 apiece on the BSE.


IndiaBulls Real Estate told to pay Rs 300 crore in undisclosed income case

The quasi-judicial body issued its order on April 30, which was the deadline for the ruling. I-T rules provide the tax commission 18 months to pass the order

Tax settlement commission, a quasi-judicial body to settle tax liabilities, has asked Indiabulls Real Estate (IBREL) to cough up Rs 300 crore on the undisclosed income — detected during a probe by the income tax department initiated in 2016.

The matter had been referred to tax settlement in 2017. The quasi-judicial body issued its order on April 30, which was the deadline for the ruling. I-T rules provide the tax commission 18 months to pass the order. Confirming the development, a senior tax official said the real estate company has been charged interest on the tax liability.

The tax authority is examining the order and will take a call on challenging it.

When contacted, an IBREL spokesperson strongly denied the development.

The application for settlement can be made only during the pendency of the assessment proceedings, whereas an appeal can be filed only after conclusion of the same, against an order of assessment.

For approaching the settlement commission, an applicant is required to disclose income that they have not disclosed before the I-T department, and also pay the applicable tax and interest on it before filing the application.

People in the know say that the tax department unearthed over Rs 800 crore of undisclosed income during the search operation.

On July 13, 2016, the I-T department has carried out a massive search operation on the Indiabulls Group, in Mumbai, Delhi and Chennai, for alleged tax evasion, during which it allegedly seized several incriminating documents.


RBI to pump in Rs 12,500 crore liquidity on June 20 via bond purchases

The decision was taken based on a review of the evolving liquidity conditions and assessment of the durable liquidity needs going forward, the central bank said

The Reserve Bank of India said Thursday said it will infuse Rs 12,500 crore into the financial system through bond purchases on June 20.

The decision has taken based on a review of the evolving liquidity conditions and assessment of the durable liquidity needs going forward, the central bank said in a statement.

The purchase of government securities under the Open Market Operation (OMO) for Rs 125 billion (Rs 12,500 crore) will be conducted on June 20, 2019.

The government securities to be purchased in the auction would be communicated in due course, the RBI added.

Earlier in the day, the RBI injected Rs 15,000 crore into the system through bond purchases.

The RBI uses open market operations (OMO) for injecting liquidity into the system through the purchase of government bonds (G-sec).


DCM Shriram Ltd. 

DCM Shriram Ltd. 
FV – Rs 2; 52wks H/L – 637/273.35; TTQ – 0.2 Lacs; CMP – Rs 502.7 (As On June 14, 2019);                      
Market Cap – Rs 8340 Rs. Cr.

Consolidated Financials and Valuations (Amt in Rs Crs unless specified)

DCM Sheeran
Company Equity Capital Net Worth Long Term Debt Total Sales PAT BV EPS P/E P/BV Industry P/E Promoter’s Holdings
Rs Cr. Rs Cr. Rs Cr. Rs Cr. Rs Cr. Rs Rs %
2019 31.4 3526 936.83 7859 902.6 224.9 57.6 8.7 2.2 32.2 66.5
2018 32.6 3040 527.24 7062.67 668.66 186.2 41.0 12.3 2.7 32.2 63.9


Consolidated Financial Trends (Rs. Cr):

Particulars FY19 FY18 FY17 FY16
Equity Paid Up 31 33 33 33
Networth 3526 3040 2528 2091
Total Debt 937 527 472 258
Net Sales 7771 7007 6118 6030
Other Income 88 56 47 41
PAT 903 669 552 300
Book Value (Rs) 224.9 186.2 155.1 128.3
EPS (Rs) 57.6 41.0 33.9 18.4



Mr. Ajay S. Shriram: Chairman & Senior Managing Director

Mr. Vikram S. Shriram: Vice Chairman & Managing Director

Company Secretary: Mr. Sameet Gambhir



  • DCM Shriram Ltd. is a leading business conglomerate with a group turnover of Rs. 7,771 crores.
  • he business portfolio of DCM Shriram comprises primarily of
    1. Agri-Rural Business: Urea & SSP fertilizers, Sugar, Farm inputs marketing such as DAP, Crop care Chemicals, Hybrid Seeds
    2. Chlor-Vinyl Business: Caustic Soda, Chlorine,Calcium Carbide, PVC resins, PVC Compounds, Power and Cement.
  • Value added business: Fenesta Building Systems- UPVC Windows & Doors
  • DCM Shriram, across its various businesses is strategically diversified yet operationally integrated at a high level. Some of the businesses feed others, thereby lowering operation costs and making DCM Shriram a highly competitive player.
  • DCM Shriram is amongst the most cost efficient producers of products and services in all its businesses and has been continuously striving to lower costs.