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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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Sical Logistics gains after robust Q4 result
May 11,2017

The result was announced after market hours yesterday, 10 May 2017.

Meanwhile, the S&P BSE Sensex was up 89.70 points or 0.29% at 30,335.83. The S&P BSE Small-Cap index was up 74.22 points, or 0.47% at 15,735.87.

On BSE, so far 47,000 shares were traded in the counter as against average daily volume of 17,417 shares in the past one quarter. The stock hit a high of Rs 280.35 in intraday trade so far, which is a 52-week high for the counter. The stock hit a low of Rs 272.50 so far during the day. The stock had hit a 52-week low of Rs 130.25 on 31 May 2016.

The stock had outperformed the market over the past one month till 10 May 2017, rising 4.78% compared with 1.54% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 13.44% as against Sensexs 6.77% rise.

The small-cap company has equity capital of Rs 55.60 crore. Face value per share is Rs 10.

Sical Logistics is integrated logistics solutions provider providing end to end logistics solutions.

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Poly Medicure drops after weak Q4 results
May 11,2017

The result was announced after market hours yesterday, 10 May 2017.

Meanwhile, the S&P BSE Sensex was up 87.26 points, or 0.29% at 30,335.43. The S&P BSE Small-cap index was up 73.10 points, 0.47% at 15,734.75.

On the BSE, 6,280 shares were traded on the counter so far as against the average daily volumes of 59,196 shares in the past one quarter. The stock had hit a high of Rs 255 and a low of Rs 247.25 so far during the day.

The stock had hit a record high of Rs 319.90 on 7 April 2017 and a 52-week low of Rs 139.55 on 10 May 2016. The stock had underperformed the market over the past one month till 10 May 2017, declining 10.97% compared with the Sensexs 2.27% rise. The scrip had also underperformed the market over the past one quarter sliding 0.5% as against the Sensexs 6.75% rise.

The small-cap company has equity capital of Rs 44.11 crore. Face value per share is Rs 5.

Poly Medicure operates within the surgical and medical instruments sector.

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Moodys: Asia Pacific non-financial corporate rating trend stabilizing
May 11,2017

Moodys Investors Service says that the outlook on the ratings for Asia Pacific non-financial corporates in Moodys portfolio is stabilizing, with the share of ratings with negative implications falling to 26% at 31 March 2017 from 29% at 31 December 2016.

In fact 1Q 2017 marked the first time since 2Q 2015 that the number of positive rating actions outpaced negative actions, says Clara Lau, a Moodys Group Credit Officer.

During 1Q 2017, there were 22 positive versus 19 negative rating actions. Excluding sovereign-related actions, total positive and negative actions were almost at par, with 18 positive and 19 negative actions. This situation is a notable improvement from that in 2016, when there were 48 positive versus 148 negative rating actions.

The stabilizing trend reflects modest but stable global growth, on-target China economic growth, the bottoming of most commodity prices, and the continued access to market liquidity for Asian corporates, adds Lau.

Moodys report says that metals & mining issuers remained the most pressured, as reflected by the over 40% share of ratings for these companies with negative implications despite the bottoming of most commodity prices.

By region, Chinese corporates accounted for nine of the 22 positive rating actions in 1Q 2017, followed by Indonesian corporates, at five. For the 19 negative actions, eight involved Chinese corporates.

By industry, property developers were the active contributors to total rating actions, with five positive and six negative actions.

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Siemens drops after dull Q2 financial performance
May 11,2017

The result was announced at fag end of the days trading session yesterday, 10 May 2017, when the stock rose 1% to settle at Rs 1,460.90.

Meanwhile, the S&P BSE Sensex was up 104.27 points, or 0.34% to 30,352.44.

On the BSE, 46,000 shares were traded in the counter so far, compared with average daily volumes of 27,416 shares in the past one quarter. The stock had hit a high of Rs 1,443.80 and a low of Rs 1,404 so far during the day. The stock hit a 52-week high of Rs 1,470 on 10 May 2017. The stock hit a 52-week low of Rs 1,011 on 9 November 2016.

The large-cap company has equity capital of Rs 71.22 crore. Face value per share is Rs 2.

Siemens registered 45% increase in new orders from continuing operations to Rs 7948 crore in the first half of calendar year 2017 (CY 2017) over CY 2016.

Sunil Mathur, Managing Director and Chief Executive Officer, Siemens said that all divisions of the company have performed well. With digital solutions, the company is supporting customers in finding solutions to problems that are foremost on their minds. Public sector business is growing well with focus by the Government on the transmission and distribution of power as also on modernizing the Indian railways.

Siemens focuses on the areas of electrification, automation and digitalization. It is one of the leading producers of technologies for combined cycle turbines for power generation; power transmission and distribution solutions; infrastructure solutions for Smart Cities and transportation; automation and software solutions for industry, and also supplier of healthcare equipments. As on 31 March 2017, Siemens AG held 75% stake in Siemens.

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Hindalco Industries jumps after good Q4 earnings from Novelis
May 11,2017

Meanwhile, the S&P BSE Sensex was up 109.35 points, or 0.36% to 30,357.52.

On the BSE, 9.22 lakh shares were traded in the counter so far, compared with average daily volumes of 11.29 lakh shares in the past one quarter. The stock had hit a high of Rs 195.80 and a low of Rs 192.20 so far during the day. The stock hit a 52-week high of Rs 203.85 on 2 May 2017. The stock hit a 52-week low of Rs 83.60 on 24 May 2016.

The stock had underperformed the market over the past one month till 10 May 2017, falling 4.78% compared with 1.54% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 1.82% as against Sensexs 6.77% rise.

The large-cap company has equity capital of Rs 224.34 crore. Face value per share is Re 1.

Novelis Inc, an overseas subsidiary of Hindalco Industries, announced 46% jump in net income at $73 million in Q4 March 2017. Net sales increased 9% to $2.6 billion for the fourth quarter of fiscal 2017, driven by higher average aluminum prices and increased shipments of higher conversion premium products, including a 26% increase in automotive shipments.

Meanwhile, Novelis Inc entered into a joint venture agreement with Japans Kobe Steel. The joint venture, to be named Ulsan Aluminum, will be formed by Novelis selling Kobe Steel 50% of its ownership interest in its Ulsan, South Korea facility for $315 million. Through the venture, Novelis and Kobe Steel will jointly own and operate the Ulsan facility, with each company remaining responsible for its metal supply and commercial relationships. The joint venture transaction is expected to close in September 2017, subject to customary closing conditions.

By entering into this joint venture, Novelis will better utilize its rolling capacity at Ulsan, which will continue to focus on automotive and specialty sheet in order to meet the increasing demand for lightweight rolled aluminum products across Asia. Partnering with another world-class manufacturing company will allow Novelis to drive operational efficiencies and process enhancements. As a result, Novelis Ulsan facility, along with its Yeongju facility in South Korea and its Changzhou facility in China, will be better positioned to deliver innovative, value-added products and services to customers. The transaction will generate cash proceeds to enhance Novelis strategic flexibility and reduce its net debt.

Hindalco Industries reported a net profit of Rs 320.56 crore in Q3 December 2016 as against net loss of Rs 32.75 crore in Q3 December 2015. Net sales rose 15.2% to Rs 9226.04 crore in Q3 December 2016 over Q3 December 2015.

Hindalco Industries, metals flagship company of the Aditya Birla Group, is the industry leader in aluminium and copper.

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Ashoka Buildcon gains after winning contracts
May 11,2017

The announcement was made during trading hours today, 11 May 2017.

Meanwhile, the S&P BSE Sensex was up 96.38 points, or 0.32% to 30,344.55.

On the BSE, 42,000 shares were traded in the counter so far, compared with average daily volumes of 6.28 lakh shares in the past one quarter. The stock had hit a high of Rs 217.40 and a low of Rs 207.10 so far during the day. The stock hit a record high of Rs 231.55 on 7 April 2017. The stock hit a 52-week low of Rs 127 on 7 June 2016.

The stock had underperformed the market over the past one month till 10 May 2017, falling 1.17% compared with 1.54% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 6.37% as against Sensexs 6.77% rise.

The mid-cap company has equity capital of Rs 93.57 crore. Face value per share is Rs 5.

Ashoka Buildcon informs that the company is in receipt of letters of intent from Jharkhand Bijli Vitran Nigam (JBVNL), for the projects viz. execution of urban electrification works for Ranchi and Medininagar towns in Jharkhand and electric supply to areas covering 12 towns in Jharkahand under Integrated Power Development Scheme (IPDS). The aggregate value of the above work is Rs 282.73 crore.

IPDS is the flagship program of Government of India, Ministry of Power and funded by Power Finance Corporation.

Ashoka Buildcons net profit spurted 114.7% to Rs 42.70 crore on 17.2% increase in net sales to Rs 517.74 crore in Q3 December 2016 over Q3 December 2015.

Ashoka Buildcon is a leading highway concessionaire and engineering, procurement and construction (EPC) company.

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SML Isuzu in reverse gear after weak Q4 result
May 11,2017

The result was announced after market hours yesterday, 10 May 2017.

Meanwhile, the S&P BSE Sensex was up 110.84 points or 0.37% at 30,359.01. The S&P BSE Mid-Cap index was up 82.13 points, or 0.52% at 15,743.78.

On the BSE, 4,731 shares were traded on the counter so far as against the average daily volumes of 6,369 shares in the past one quarter. The stock had hit a high of Rs 1,355 and a low of Rs 1,315 so far during the day. The stock had hit a 52-week high of Rs 1,433.85 on 31 August 2016 and a 52-week low of Rs 891.45 on 24 May 2016.

The small-cap company has equity capital of Rs 14.47 crore. Face value per share is Rs 10.

SML Isuzu is a commercial vehicle manufacturer. Sumitomo Corporation, Japan and Isuzu Motors, Japan respectively held 43.96% and 15% stake in SML Isuzu (as per the shareholding pattern as on 31 March 2017).

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Infibeam Incorporation and CC Avenues into Avenues Payments India
May 11,2017

The Board of Directors of Infibeam Incorporation has approved to make investment in preference shares along with Avenues (India) (CC Avenues) into Avenues Payments India as an Anchor Investment.

As part of the investment transaction, Infibeam and CC Avenue will invest Rs 3 crore in RemitGuru wherein Infibeam will invest Rs 2 crore. Prior to this investment, CC Avenue already holds 26.76% equity stake in this company.

RemitGuru is a digital cross border money remittance solution with a secured, scalable and configurable platform.

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Shantai Industries fixes record date for bonus issue
May 11,2017

Shantai Industries has fixed 18 June 2017 as record date for bonus issue.

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Kennametal India fixes record date for interim dividend
May 11,2017

Kennametal India has fixed 19 May 2017 as the Record Date for the purpose of Payment of Interim Dividend. The payment of dividend to the eligible shareholders will be made on or after 25 May 2017.

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HCL Tech slips after Q4 results
May 11,2017

Meanwhile, the S&P BSE Sensex was up 73.33 points, or 0.24% to 30,321.50.

On the BSE, 1.02 lakh shares were traded in the counter so far, compared with average daily volumes of 2.20 lakh shares in the past one quarter. The stock had hit a high of Rs 858.20 and a low of Rs 840 so far during the day. The stock hit a 52-week high of Rs 889.65 on 31 March 2017. The stock hit a 52-week low of Rs 706.50 on 11 May 2016.

The stock had underperformed the market over the past one month till 10 May 2017, rising 1.04% compared with 1.54% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 2.79% as against Sensexs 6.77% rise.

The large-cap IT company has equity capital of Rs 285.39 crore. Face value per share is Rs 2.

On a consolidated basis, HCL Technologies net income rose 15% to Rs 8457 crore on 14.2% increase in revenue to Rs 46723 crore in the year ended March 2017 over the year ended December 2016.

In its guidance, HCL Technologies said that in the financial year ending March 2018 (FY18), its revenues are expected to grow between 10.5% to 12.5% in constant currency. The above constant currency guidance translates to 9.9% to 11.9% in USD terms based on 31 March 2017 rates.

Operating margin (EBIT) in FY18 is expected in range from 19.5% to 20.5%. The operating margin guidance assumes USD-INR currency rate of $1=Rs 65.50 and other currencies at FY17 average exchange rates.

HCL Technologies is a global IT services company.

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Moodys: Asian Liquidity Stress Index improves to lowest level since August 2015
May 11,2017

Moodys Investors Service says that its Asian Liquidity Stress Index (Asian LSI) has fallen for a fifth consecutive month, registering 25.4% in April 2017 from 26.8% in March 2017.

Moodys Asian LSI measures the percentage of high-yield companies with the weakest speculative-grade liquidity score of SGL-4, and increases when speculative-grade liquidity appears to deteriorate.

The strong high-yield issuance momentum continued in April 2017, with Moodys-rated high-yield issuance totaling $3.2 billion during the month, says Annalisa Di Chiara, a Moodys Vice President and Senior Credit Officer. The majority of the bond proceeds has been used for refinancing upcoming maturities, supporting some of the improvement in the Asian LSI.

Year-to-date bond issuance of $13.2 billion is at the strongest level for comparable periods since 2013.

However, despite five straight months of improvement, the Asian LSI reading remains above the long-term average of 22.8%, highlighting ongoing weakness in liquidity for many companies in Asia, adds Di Chiara.

The liquidity stress sub-index for North Asian high-yield companies fell to 25.0% in April 2017 from 26.6% in March 2017. Within this portfolio, the Chinese sub-index fell to 25.7% from 27.5%. And, the Chinese high-yield property sub-index fell to 10.0% from 12.5%, its lowest level since October 2011. The Chinese high-yield industrial sub-index fell to 46.7% from 48.3%.

The liquidity stress sub-index for South and Southeast Asian high-yield companies dropped to 26.1% in April 2017 from 27.3% in March 2017, with the Indonesian sub-index falling to 22.7% from 23.8%.

Moodys report points out that the number of Moodys-rated high-yield companies with Moodys weakest speculative-grade liquidity score of SGL-4 fell to 32 in April 2017 from 33 in March 2017, while the total number of rated high-yield companies increased to 126 from 123 during the same period.

At end-April 2017, Moodys rated 126 speculative-grade non-financial corporates in Asia n++ excluding Japan and Australia n++ with rated debt of $69.7 billion.

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Shriram EPC announces change in JV company in Oman
May 11,2017

Shriram EPC announced that the name of its joint venture in Oman has change from Shriram EPC Muscat LLC to Shriram EPC Arkan LLC.

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Berger Paints India intimates of strike by Union at Goa factory
May 11,2017

Berger Paints India announced that a strike has been called by the union at the Companys Goa factory on 10 May 2017. The Goa factory is operating at a reduced scale and the strike is not likely to significantly affect the Companys operations.

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Hero MotoCorp gains after Q4 results
May 11,2017

The result was announced after market hours yesterday, 10 May 2017.

Meanwhile, the S&P BSE Sensex was up 69.34 points, or 0.23% to 30,317.51.

On the BSE, 14,000 shares were traded in the counter so far, compared with average daily volumes of 43,259 shares in the past one quarter. The stock had hit a high of Rs 3,379.50 and a low of Rs 3,295.50 so far during the day. The stock hit a record high of Rs 3,739.90 on 8 September 2016. The stock hit a 52-week low of Rs 2,844.40 on 17 November 2016.

The stock had outperformed the market over the past one month till 10 May 2017, rising 3.78% compared with 1.54% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 1.78% as against Sensexs 6.77% rise.

The large-cap two-wheeler major has equity capital of Rs 39.94 crore. Face value per share is Rs 2.

Hero MotoCorp said it took a proactive approach towards the launch of BS IV-compliant vehicles, and liquidated large BS III inventory, leading up to 29 March 2017. In the last two days of the month, the company took some tactical steps to assist its dealers and incentivise the customers with an objective to liquidate the remaining BS Ill stocks, resulting in a one-time impact to the margins of the fourth quarter.

EBITDA (earnings before interest, taxes, depreciation and amortization) margin stood at 12.79% in Q4 March 2017, lower than 14.66% in Q4 March 2016.

Hero MotoCorps retail sales have been outpacing wholesale numbers, as a result of which the company has now been able to maintain healthy dealer inventory. Meanwhile, input costs have been on an upward trend. To partially offset the commodity costs, Hero MotoCorp raised prices ranging from Rs 500 to Rs 2200 on some of the models, with effect from 1 May 2017.

Hero MotoCorp is the worlds largest manufacturer of two-wheelers.

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