Stock News this week

News :

- New hopes for Ranbaxy to grab Lipitor pie. USFDA has taken a strong stance against US based Mylan, which had opposed FDA's decision to allow approval to Ranbaxy's generic version of Lipitor. Ranbaxy holds a first-to-file status on the cholesterol drug, which can reap about $500-600mn in the six month exclusivity period starting from November 2011.

- Cairn extends deadline for sale of stake to Vedanta to May 20 from April 15.

- Tech Mahindra has bagged contract to manage the IT systems of Vodafone Hutchison Australia for five years. Contract is estimated about $250mn.

- Hindustan Zinc raised prices of Zinc by Rs. 2,500 a tonne to Rs. 122,900 and Lead prices by Rs. 4,300 to Rs. 143,000.

- Elecon Engineering wins Rs. 1.76bn order from NMDC.

- DE Shaw has acquired 14.2% stake in NDTV for Rs. 700mn.



Derivatives :

- Nifty Futures OI decreased marginally by 0.1m shs to 28.2m shs. Nifty Apr futures settled at premium of 16 as against a premium of 19 in the previous session.

- Stock Specific : Sintex witnessed delivery of 2m shs (10d-avg 0.8m shs) along with 7% rise in Fut OI to 4.1m shs indicating built up of long positions. Fertilizer Stocks: Chamblfert witnessed delivery of 3.3m shs (10d-avg 1.1m shs) along with 43% rise in Fut OI to 13.6m shs and Nagarfert witnessed delivery of 2.7m shs (10d-avg 1.2m shs) along with 16% rise in Fut OI to 24.8m shs indicating built up of long positions.

- In Apr series for Nifty, Highest Call OI is at 6000 strike with 6.5m shs and highest Put OI is at 5800 strike with 5.6m shs up 0.5m shs which has changed from 5700 (OI at 5.5m shs).