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Surya Industrial Corporation to hold AGM

Surya Industrial Corporation to hold AGM

Sep 14,2016

Surya Industrial Corporation announced that the Annual General Meeting (AGM) of the company will be held on 30 September 2016.

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Bearings makers in spotlight
Jul 05,2017

Menon Bearings (up 19.97%), NRB Bearings (up 6.83%), SKF India (up 3.20%) and Fag Bearings India (up 0.88%), edged higher.

Timken India (up 13.46%) and ABC Bearings (up 20%). The board of Timken India on 4 July 2017, approved the amalgamation of ABC Bearings with the company. The announcement was made after market hours yesterday, 4 July 2017.

As per the proposed scheme, Timken India will issue 5 equity shares for every 8 equity shares held in ABC Bearings. The transaction is expected to close in the quarter ended 31 March 2018, subject to the receipt of all approvals.

The scheme is subject to the approval of the shareholders and creditors of ABC Bearings, approval of the regulatory authorities and the sanction of the National Company Law Tribunal.

The amalgamation will help both the firms to achieve larger product portfolio, access new domestic and export markets, increase market share, economies of scale, efficiency, and other related economies. The scheme intends to merge the operations of ABC Bearings with that of Timken India to fulfill this objective.

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Indian service sector ends Q1 with strong expansion: Nikkei India Services PMI
Jul 05,2017

Business conditions in Indias service sector continued to improve in June as a solid and accelerated upturn in new work resulted in a faster increase in activity. Moreover, job creation was maintained at Mays 47-month record pace. Meanwhile, inflationary pressures gathered speed, with both input costs and output charges rising at quicker rates.

Up from 52.2 in May to an eight-month high of 53.1 in June, the seasonally adjusted Nikkei India Services PMI Business Activity Index signalled a solid and accelerated upturn in output across the sector. Additionally, the headline measure averaged 51.8 for the first quarter of the 2017 financial year, the highest quarterly figure since Q2 (FY) 2016.

In contrast to the trend for services, manufacturing lost growth momentum in June, with the upturn in production moderating for the third month in a row to the weakest since February. Across the private sector as a whole, however, the upward trend in the rate of expansion for activity was sustained. The seasonally adjusted Nikkei India Composite PMI Output Index rose from 52.5 in May to an eight-month high of 52.7.

Boosting growth of services activity in June was a solid and stronger upswing in inflows of new business. According to survey participants, improved demand conditions and marketing efforts enabled them to secure new work. Factory orders also rose, but to the least extent in four months.

Greater workplace activity encouraged some services companies to recruit more staff. Employment across the sector as whole rose modestly, but at a rate that equalled Mays near four-year peak. By comparison, manufacturing jobs increased fractionally.

Amid reports of higher prices paid for food and fuel, average cost burdens at services firms increased further in June. The rate of inflation picked up to a three-month high, but remained below its long-run average and was only slight. Concurrently, purchase costs faced by manufacturers rose at the slowest rate since last August.

Service providers signalled higher selling prices (on average) in June. The rate of charge inflation was the joint-quickest in one year, on par with that seen in February, though marginal overall. In many cases, survey members reported the pass through of greater cost burdens to clients. Factory gate charges were also raised at a quicker, though marginal, pace.

Reflecting difficulties in obtaining payments from clients, outstanding business at service providers continued to rise. Nevertheless, the rate of backlog accumulation softened to the slowest in the current 13-month sequence of expansion. A weaker increase in work-in-progress was similarly noted at goods producers.

Output is expected by services firms to remain on an upward trajectory in the coming 12 months. Optimism was attributed by panellists to better market conditions, the introduction of the goods & services tax and promotional activities. However, the level of positive sentiment fell to a four-month low. Likewise, confidence among manufacturers dipped in the current reporting period.

Commenting on the Indian Services PMI survey data, Pollyanna De Lima, economist at IHS Markit, and author of the report said, Junes results for services sounded a more upbeat tone than those from its sister PMI survey, which showed a slowdown in manufacturing. Growth of service sector activity and inflows of new business picked up as better demand conditions and marketing efforts bore fruit.

With services being the prevalent sector in India, the fainter rise in manufacturing was more than offset and growth of private sector output climbed to an eight-month peak. Whats more, Junes figure contributed to the highest quarterly average for the composite PMI (52.2) since Q2 (FY) 2016. This suggests that GDP growth is likely to rebound from the sharp slowdown noted in the first three months of 2017.

Nonetheless, the falls in confidence levels highlight no easy walk to stronger economic prosperity. Optimism weakened at goods producers and service providers alike, hampered by concerns among some firms that the goods & services tax could harm consumer demand, with competitive pressures also seen as a threat to the outlook.

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Oracle Financial Services Software to hold board meeting
Jul 05,2017

Oracle Financial Services Software will hold a meeting of the Board of Directors of the Company on 19 July 2017 to consider allotment of shares to the eligible employees who have chosen to exercise their options under prevailing Employees Stock Option Schemes of the Company

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Hatsun Agro Product to hold board meeting
Jul 05,2017

Hatsun Agro Product will hold a meeting of the Board of Directors of the Company on 13 July 2017 Consider and approve the Un-audited Financial Results of the Company for the Quarter ended 30th June, 2017, The proposal for declaration of Interim Dividend for the financial year 2017-18

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Kirloskar Industries to hold AGM
Jul 05,2017

Kirloskar Industries announced that the th Annual General Meeting(AGM) of the company on 3 August 2017.

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Volumes jump at Wim Plast counter
Jul 05,2017

Wim Plast clocked volume of 4.10 lakh shares by 14:22 IST on BSE, a 119.43-times surge over two-week average daily volume of 3,000 shares. The stock shed 0.24% to Rs 1,577.95.

NRB Bearings notched up volume of 3.88 lakh shares, a 60.94-fold surge over two-week average daily volume of 6,000 shares. The stock surged 6.83% to Rs 143.10.

Timken India saw volume of 1.07 lakh shares, a 17.11-fold surge over two-week average daily volume of 6,000 shares. The stock jumped 13.88% to Rs 769.75.

Speciality Restaurants clocked volume of 7.87 lakh shares, a 15.72-fold surge over two-week average daily volume of 50,000 shares. The stock spurted 9.83% to Rs 113.40.

Astral Poly Technik saw volume of 1.01 lakh shares, a 15.01-fold rise over two-week average daily volume of 7,000 shares. The stock rose 0.31% to Rs 683.

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Lupin in pink of health after launching generic solution
Jul 05,2017

The announcement was made during market hours today, 5 July 2017.

Meanwhile, the S&P BSE Sensex was down 15.90 points or 0.05% at 31,193.89

On the BSE, 1.82 lakh shares were traded on the counter so far as against the average daily volumes of 1.21 lakh shares in the past one quarter. The stock had hit a high of Rs 1,095.50 and a low of Rs 1,036.80 so far during the day. The stock had hit a 52-week high of Rs 1,750 on 29 July 2016 and a 52-week low of Rs 1,040.30 on 4 July 2017.

The stock had underperformed the market over the past one month till 4 July 2017, falling 9.87% compared with 0.32% decline in the Sensex. The scrip also underperformed the market in past one quarter, sliding 28.13% as against Sensexs 4.12% rise. The scrip had also underperformed the market in past one year, declining 33.06% as against Sensexs 14.88% rise.

The large-cap company has equity capital of Rs 90.34 crore. Face value per share is Rs 2.

Lupin announced the launch of its Moxifloxacin Hydrochloride Opthalmic Solution USP, 0.5% (base) having received an approval from the United States Food & Drug Administration (USFDA) earlier. The companys Moxifloxacin Hydrochloride Ophthalmic solution USP, 0.5% (base), is an AT1 rated generic equivalent of Novartis Pharma Corps Vigamox Ophthalmic solution.

The medicine is indicated for the treatment of bacterial conjunctivitis caused by susceptible strains of the organisms. Vigamox Ophthalmic solution had US sales of $267.9 million in US as per IMS MAT March 2017.

On consolidated basis, Lupins net profit fell 49.2% to Rs 380.21 crore on 1.3% growth in net sales to Rs 4161.88 crore in Q4 March 2017 over Q4 March 2016.

Lupin is a transnational pharmaceutical company developing and delivering a wide range of branded & generic formulations, biotechnology products and active pharmaceutical ingredients (APIs) globally.

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SIL Investments fixes record date for dividend
Jul 05,2017

SIL Investments has fixed 14 July 2017 as the Record Date for the purpose of Payment of Dividend

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Ipca Laboratories gets revision in credit ratings
Jul 05,2017

Ipca Laboratories announced the revision in credit ratings of the Company for bank loan facilities aggregating Rs 1182.5 crore -

Long term rating - CRISIL AA-/ Stable (Withdrawn at the request of the Company)

Rs 5 crore NCDs - CRISIL AA-/ Stable (Reaffirmed)
Rs 50 crore Short term debt - CRISIL A1+ (Reaffirmed)

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Garware-Wall Ropes scales record high
Jul 05,2017

The announcement was made during market hours today, 5 July 2017.

Meanwhile, the S&P BSE Sensex was up 16.76 points, or 0.05%, to 31,226.55. The S&P BSE Small-Cap index was up 142.32 points, or 0.91%, to 15,709.25.

On BSE, so far 16,000 shares were traded in the counter, compared with average daily volume of 5,462 shares in the past one quarter. The stock hit a high of Rs 897 in intraday trade so far, which is record high for the counter. The stock hit a low of Rs 838.05 so far during the day. The stock hit a 52-week low of Rs 386.10 on 5 July 2016.

The stock had outperformed the market over the past one month till 4 July 2017, rising 1.33% compared with 0.32% decline in the Sensex. The scrip also outperformed the market in past one quarter, gaining 13.46% as against Sensexs 4.12% rise. The scrip had also outperformed the market in past one year, surging 109.77% as against Sensexs 14.88% rise.

The small-cap company has an equity capital of Rs 21.88 crore. Face value per share is Rs 10.

Garware Wall Ropes announced the signing of a Memorandum of Understanding (MoU) with Israels Aero-T showing intention to combine their capability for manufacturing and supply of advanced aerostats for Indian Defence. Aero-T is a subsidiary of Israel based RT LTA Systems, the designer, developer and manufacturer of World class Aerostats.

The MoU between Garware Wall Ropes and Aero-T envisages intention of the parties to establish future co-operation between both companies to facilitate a fully indigenized development, production, delivery and maintenance support for advanced aerostats required for both military and civilian use initially for agreed size. The intended co-operation will entail the company establishing an aerostat envelope production facility and Aero-T providing the technology, know-how, integration, acceptance and continuous support for the aerostats development & production. Simultaneously, there will be co-operation with Indian R&D establishments, such as DRDO /ADRDE and the end customers to understand their needs and co-develop customized solutions.

On a consolidated basis, net profit of Garware-Wall Ropes rose 13.65% to Rs 19.65 crore on 13.94% rise in total income to Rs 216.04 crore in Q4 March 2017 over Q4 March 2016.

Garware-Wall Ropes is a leading player in technical textiles, known for its innovation and providing customized solutions in the field of fisheries, aquaculture, shipping, sports, agriculture, coated fabrics and geosynthetics.

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Universal Autofoundry to hold board meeting
Jul 05,2017

Universal Autofoundry will hold a meeting of the Board of Directors of the Company on 5 July 2017.

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D S Kulkarni Developers gets revision in credit ratings
Jul 05,2017

D S Kulkarni Developers announced that CARE has revised the ratings of the Company as under -

Fixed Deposits - CARE D (Revised from CARE C(FD) Negative)
Secured Redeemable NCDs - CARE D (Revised from C Negative)

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India spends miniscule amount on cyber security: ASSOCHAM-PwC study
Jul 05,2017

Despite the growing threat, Indias budgetary allocation towards cyber security was about Rs 42.2 crore in 2012-13, up 19 per cent from Rs 35.45 crore in 2010-11 whereas US spend $658 million through department of homeland security and $93 million through US-CERT in 2013, according to the joint study brought out by ASSOCHAM and PwC.

A joint study undertaken by PwC and ASSOCHAM reveals that the attacks on Indian websites have increased nearly five times in the past four years. With the rise of technology in the financial infrastructure ecosystem came a greater flow of funds.

In coming years, private companies will matter greatly in Indias critical infrastructure as they control more and more assets in telecom, transport, energy, and banking and finance.

Demonetisation has given an impetus to e-wallet services. Mobile wallets have witnessed a massive rise in app downloads. The result has been that leading mobile wallets have witnessed growth of upwards of 100% in app download numbers and have similarly seen an increase of upwards of 400% increase in wallet recharges, noted the joint study.

Globally, most countries are facing a shortage of professionals with the expertise, training and motivation needed to deal with cybercriminals, and India is no exception. What we urgently need is serious effort in capacity building and setting up high-end cyber labs that are capable of critically inspecting every IT component before these are deployed in critical infrastructure across industry sectors. There is an ever-growing threat to the economy, financial sector, key government departments and infrastructure set-up, which in turn leaves internal security at risk, said Mr. D S Rawat, Secretary General ASSOCHAM.

Moreover, cyberthreats will only rise as India is seeing a shift towards a cashless economy. The types of cyber security incidents such as phishing, scanning, website intrusions and defacements, virus code and denial of service attacks will continue to grow, adds the study.

The number of incidents occurring in banking systems has increased in the last five years. In the month of October 2016, an ATM card hack hit Indian banks, affecting around 3.2 million debit cards. Hence, efforts are needed to enhance cyber security as businesses and citizens embrace this new digital wave.

Securing the hyper-interfaced environment, each ecosystem player will need to create multiple application programing interfaces (APIs). While this will deliver a seamless experience to customer, there is also a risk of malware injection through such APIs. With faster proliferation of interfaces, protecting APIs will become critical to ensure malware and persistent threats do not propagate through such untrusted/ untested APIs.

Any threat that impacts such a user can potentially proliferate and bring the entire financial services ecosystem to a standstill. As the ecosystem continues to be interconnected and overlapping, cybercriminals will try to exploit possible lapses and, hence, strategies need to be built to deal with such eventualities. Given this interdependence on the all the players of the financial ecosystem, it becomes crucial to identify any anomaly at a pace which mirrors real time or near real time. Once an anomaly is identified, containing it is of paramount importance before it spreads and crosses a point where the damages have transcended organisational boundaries and services.

Stakeholders, including third-party vendors, who are responsible for managing the networks and infrastructure have limited understanding with respect to security risks and vulnerabilities associated with OT and CT systems.

While IT systems are monitored heavily for security purposes, monitoring of OT and CT systems is limited to process efficiency and performance. Hence, logs and events are not collected and correlated.

Specific crisis management or incident response for OT and CT systems is different from that for traditional It system. Security plans specific to OT and CT are missing, thus increasing the potential impact of the incident.

ASSOCHAM paper said that by identifying cyber security flaws and issues, decision makers will be better placed to implement appropriate security controls, design additional secure architectures, monitor targeted attacks and maintain effective cyber resilience for their IT, OT and CT networks.

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Religare Enterprises biggest loser on BSEs A group
Jul 05,2017

Religare Enterprises slipped 4.47% at Rs 151.85. The stock topped the losers in A group. On the BSE, 17,000 shares were traded on the counter so far as against the average daily volumes of 21,000 shares in the past two weeks.

Max Financial Services declined 2.42% at Rs 605.55. The stock was the second biggest loser in A group. On the BSE, 61,000 shares were traded on the counter so far as against the average daily volumes of 82,000 shares in the past two weeks.

Oberoi Realty fell 1.67% at Rs 363. The stock was the third biggest loser in A group. On the BSE, 2,332 shares were traded on the counter so far as against the average daily volumes of 11,000 shares in the past two weeks.

Den Networks skid 1.42% at Rs 79.75. The stock was the fourth biggest loser in A group. On the BSE, 3,648 shares were traded on the counter so far as against the average daily volumes of 27,000 shares in the past two weeks.

ITC tumbled 1.44% at Rs 332.25. The stock was the fifth biggest loser in A group. On the BSE, 2.39 lakh shares were traded on the counter so far as against the average daily volumes of 16.39 lakh shares in the past two weeks.

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Redington India drops after bulk deal
Jul 05,2017

Meanwhile, the S&P BSE Sensex was up 3.39 points, or 0.01%, to 31,213.18. The S&P BSE Mid-Cap index was up 107.80 points, or 0.73%, to 14,866.64

Bulk deal boosted volume on the scrip. On BSE, so far 9.25 lakh shares were traded in the counter, compared with an average volume of 64,750 shares in the past one quarter. The stock hit a high of Rs 128.60 and a low of Rs 123.60 so far during the day. The stock hit a record high of Rs 155.35 on 5 June 2017. The stock hit a 52-week low of Rs 79.70 on 9 November 2016.

The stock had underperformed the market over the past one month till 4 July 2017, sliding 13.82% compared with 0.32% decline in the Sensex. The scrip, however, outperformed the market in past one quarter, gaining 13.97% as against Sensexs 4.12% rise. The scrip had also outperformed the market in past one year, advancing 24.46% as against Sensexs 14.88% rise.

The mid-cap company has an equity capital of Rs 79.97 crore. Face value per share is Rs 2.

Redington Indias consolidated net profit rose 11.15% to Rs 153.32 crore on 3.06% rise in net sales to Rs 10794.98 crore in Q4 March 2017 over Q4 March 2016.

Redington India is a supply chain solutions provider worldwide to leading manufacturers of information technology, telecom, lifestyle and consumer electronics products.

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