Swastika Investmart Limited

Sun Pharma
-’We approached Daiichi Sankyo first for the Ranbaxy deal’
-Proposed merger route to avoid complications of 2 listed entities
-SilverStreet Investment in Ranbaxy not connected to deal
-SilverStreet’s Investment was not precursor to Sun

-Ranbaxy deal
-Deal with Ranbaxy is fully in compliance with all laws
-No ground for insider trading charges against company
-Have not heard from SEBI w.r.t. insider trading charges
-Have no doubt in keeping Ranbaxy brand alive
-Will strengthen Ranbaxy mother brand & sub-brands
-Will leverage the strength of Ranbaxy brand in other markets
-Foray into Japan will be independent of Daiichi Sankyo
-Daiichi’s marketing relationship with Ranbaxy to continue
-Daiichi’s arbitration with Singh brothers not discussed
-Synergies of USD 250 million over 3 years not a conservative target
-Ranbaxy management to continue till deal formally concludes
-Daiichi says consent decree progressing as per schedule
-Don’t see Ranbaxy deal facing problems in getting Competition Commission of India (CCI) nod -Will assess synergies of manufacturing capacities globally
-Confident that Ranbaxy can monetise first-to-file US drug opportunities

European Medicines Agency to PTI: Exports to European Union from Ranbaxy ‘s two plants to remain suspended CNBC-TV18 Alert: 2 Ranbaxy plants include Toansa & Dewas plants

Supreme Court to resume hearing in KG-D6 gas case on April 16

KG-D6 gas price case: Government to SC:
-Comptroller & Auditor General of India (CAG) report is not legally enforceable
-CAG has a say only for funds/grants approved by parliament
-CAG has no power to audit policy decisions
-CAG report is under consideration of parliament
-Judiciary can’t intervene when parliament considering CAG report
-Consider action taken already on CAG report
-‘CAG report cannot be taken as gospel truth’

KG-D6 gas price case: Supreme Court
-Asks government to explain impact of higher gas price
-Asks government how higher cost will impact government revenues

US moves ONGC Videsh (OVL) out of list of firms with ties to Iran: PTI
-US action follows detailed explanations by OVL & Petronet approximately their dealings, or rather non-dealings, with Iran
-US moves four firms i.e. INA of Croatia, ONGC Videsh, Petronet LNG, & Sasol to the ‘withdrawn’ category

ACC says
-Have 15 months to decide asset sale for India competition panel approval
Alert: ACC needs competition panel approval post Holcim-Lafarge merger

MCX -SX launches bank index ‘SXBANK’
-MCX-SX says bank index constituents from over 80 percent market cap of all bank share

Prime Focus
-Raises Rs 45 crore via optionally convertible debentures
-Funds raised would be used to fuel expansion of cloud technology

Corporate Action
- State Bank of Mysore ex- dividend Rs 3/share
- Honeywell Automation ex dividend Rs 10/share

Other stocks & sectors that are in news today:
-Competition Commission of India approves Torrent Pharma ’s buyout of Elder Pharma operations

- Ambuja Cements : AGM today
- United Breweries Holdings case hearing in Karnataka HC today
- SBI planning USD 1 billion bond issue: ET
- Whirlpool freezes expansion plan amid poor demand: ET
-NTT decides to stay Invested in Tata Teleservices : ET
-BIFR turns down Zenith Infotech recast request: ET
- MCX board decides, for time being, not to go ahead with preference shares allotment
- GTL Infrastructure to mull share allotment on FCCB conversion today
- Man Industries gets orders worth Rs 700 crore
-BSE shifts 80 stocks to trade-to-trade segment effective April 15
-Delhi goes into voting today

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