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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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GPT Infraprojects gains after winning order
Feb 20,2017

The announcement was made after market hours on 17 February 2017.

Meanwhile, the BSE Sensex was up 62.86 points, or 0.22%, to 28,531.61.

On the BSE, so far 4,838 shares were traded in the counter, compared with average daily volumes of 5,943 shares in the past one quarter. The stock had hit a high of Rs 256.65 and a low of Rs 248 so far during the day.

The stock hit a record high of Rs 299.85 on 3 October 2016. The stock hit a 52-week low of Rs 186.50 on 29 April 2016. The stock had underperformed the market over the past 30 days till 17 February 2017, rising 3.75% compared with the 4.25% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 8.26% as against Sensexs 8.87% rise.

The small-cap company has equity capital of Rs 14.54 crore. Face value per share is Rs 10.

GPT Infraprojects has bagged orders valued at Rs 64 crore from Rail Vikas Nigam. The order is for construction of a major bridge over river Chanderbagha in Uttarakhand. The project has to be completed within 18 months. The current order book of GPT Infraprojects stands at Rs 1925 crore, including cumulative order inflow of Rs 703 crore in the current financial year.

On a consolidated basis, net profit of GPT Infraprojects declined 14.45% to Rs 3.02 crore on 13.81% decline in net sales to Rs 106.15 crore in Q3 December 2016 over Q3 December 2015.

GPT Infraprojects is an infrastructure company based out of Kolkata.

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Deepak Fertilizers & Petrochemicals Corp starts commercial production at new facility
Feb 20,2017

Deepak Fertilizers & Petrochemicals Corp has started commercial production of its new grade of NPK fertilizers under its flagship brand Mahadhan.

The new manufacturing facility at Taloja is installed with the latest INCRO technology and has a provision of manufacturing multiple grades of fertilizers. Being a brown field project, significant cost optimisation is achieved and the total investment is below Rs 800 crore. This is the only fertilizer plant in India that has one-of-its-kind fully automated bagging facility. The new state-of-the-art facility is set to augment Companys production capacity by almost 4 times, from 3 lakh tonnes to 11 lakh tonnes in a phased manner.

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Cadila Healthcare fixes record date for interim dividend
Feb 20,2017

Cadila Healthcare has fixed 17 March 2017 as the Record Date for the purpose of Payment of Interim Dividend, if declared.

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GE Shipping gains after delivery of supply vessel
Feb 20,2017

The announcement was made after market hours on Friday, 17 February 2017.

Meanwhile, the S&P BSE Sensex was up 46.74 points or 0.16% at 28,515.49.

On the BSE, 6,108 shares were traded on the counter so far as against the average daily volumes of 7,685 shares in the past one quarter. The stock had hit a high of Rs 369.25 and a low of Rs 360.95 so far during the day.

The stock had hit a 52-week high of Rs 410.40 on 20 January 2017 and a 52-week low of Rs 275 on 2 March 2016. The stock had underperformed the market over the past one month till 17 February 2017, sliding 7.15% compared with the Sensexs 4.53% rise. The scrip had also underperformed the market over the past one quarter, declining 0.08% as against the Sensexs 8.54% rise.

The mid-cap company has equity capital of Rs 150.78 crore. Face value per share is Rs 10.

Great Eastern Shipping Company (GE Shipping) said that its wholly owned subsidiary Greatship (India) has sold and delivered its 1999 built platform supply vessel (PSV) Greatship Disha to the buyers.

On a consolidated basis, net profit of GE Shipping fell 33.4% to Rs 238.36 crore on 23.2% decline in net sales to Rs 738.91 crore in Q3 December 2016 over Q3 December 2015.

GE Shipping has two main business: shipping and offshore. The shipping business is involved in transportation of crude oil, petroleum products, gas and dry bulk commodities. The offshore business services to the oil companies in carrying out offshore exploration and production activities, through its subsidiary Greatship (India).

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Maruti Suzuki gains after good smart hybrid vehicles sales
Feb 20,2017

The announcement was made during trading hours today, 20 February 2017.

Meanwhile, the BSE Sensex was up 26.47 points, or 0.09%, to 28,495.22.

On the BSE, so far 18,000 shares were traded in the counter, compared with average daily volumes of 60,860 shares in the past one quarter. The stock had hit a high of Rs 6,073.20 and a low of Rs 5,915.65 so far during the day.

The stock hit a record high of Rs 6,230.30 on 8 February 2017. The stock hit a 52-week low of Rs 3,202.10 on 29 February 2016. The stock had outperformed the market over the past 30 days till 17 February 2017, rising 4.81% compared with the 4.25% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 20.74% as against Sensexs 8.87% rise.

The large-cap company has equity capital of Rs 151.04 crore. Face value per share is Rs 5.

Maruti Suzuki India announced that its smart hybrid vehicles n++ Ciaz SHVS and Ertiga SHVS n++ have crossed cumulative sales of 1 lakh units this month. This marks the success of Maruti Suzukis efforts in hybrid and electric mobility in India.

Introduction of technologies like smart hybrid can only create a significant positive impact if they are made available to a larger section of customers. With this as a premise, Maruti Suzuki introduced Indias first smart hybrid vehicle, Ciaz SHVS on 1 September 2015, it subsequently introduced the technology in Ertiga Diesel in October 2015.

Smart Hybrid Vehicle by Suzuki (SHVS) is a technology which uses an integrated starter generator (ISG) and an advanced high capacity battery to supplement the engines power. SHVS technology makes it more efficient than the conventional set-up and saves energy while decelerating/braking.

Ciaz and Ertiga Smart Hybrid participate in Government of Indias FAME lndia scheme, which aims to promote faster adoption and manufacturing of hybrid and electric vehicles in India.

Ciaz SHVS, with a certified fuel efficiency of 28.09 kilometer per liter (km/I), tops the mileage chart in India. Ertiga SHVS, with 24.52 km/I, has set new bench marks in fuel efficiency in its category. SHVS equipped vehicles account for over 60% of volume of the two models.

Maruti Suzuki Indias net profit rose 47.5% to Rs 1744.50 crore on 12.4% growth in net sales to Rs 16623.60 crore in Q3 December 2016 over Q3 December 2015.

Maruti Suzuki India is Indias biggest car maker in terms of market share. Japanese parent Suzuki Motor Corporation currently holds 56.21% stake in Maruti (as per the shareholding pattern as on 31 December 2016).

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Board of Prabhat Telecoms (India) recommends borrowing money upto Rs 300 crore & alteration in object clause
Feb 20,2017

Prabhat Telecoms (India) announced that the Board of Directors of the Company at its meeting held on 18 February 2017 has transacted the following -

Recommended for approval of shareholders, to borrow money in excess of paid up share capital and free reserves upto Rs 300 crore to meet working capital requirements and capital expenditure programme.

Recommended for approval of shareholders, to alter the object clause of the Memorandum of Association to include E-commerce Business of cosmetics, computer accessories, fashion and travel accessories, household products etc.

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Outcome of board meeting of Orissa Sponge Iron & Steel
Feb 20,2017

Orissa Sponge Iron & Steel announced that the Board of Directors of the Company at its meeting held on 18 February 2017 has approved the following -

Appointment of Anurag Tulsyan as Additional Independent Director of the Company.

Allotted 12,90,000 equity shares of Rs 10 each after conversion of equal no. of warrants.

Recalled decision dated 14 August 2014 in respect of allotment of cumulative redeemable non convertible preference shares and consequently cancelled preference shares allotted to Monet Ispat & Energy and Torsteel Services, as the allotment was not in accordance with the provision of the Companies Act 2013.

Fixed EGM on 18 March 2017.

Appointed Ankur Gupta as Company Secretary with effect from 01 March 2017.

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Mangalam Drugs jumps after WHO-Geneva inspects unit-2 facility
Feb 20,2017

The announcement was made after market hours on Friday, 17 February 2017.

Meanwhile, the BSE Sensex was up 46.69 points, or 0.16%, to 28,515.44.

On the BSE, so far 46,000 shares were traded in the counter, compared with average daily volumes of 20,918 shares in the past one quarter. The stock had hit a high of Rs 164.90 and a low of Rs 156.50 so far during the day.

The stock hit a 52-week high of Rs 296.20 on 16 March 2016. The stock hit a 52-week low of Rs 122.90 on 22 November 2016. The stock had underperformed the market over the past 30 days till 17 February 2017, falling 6.59% compared with the 4.25% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 9.69% as against Sensexs 8.87% rise.

The small-cap company has equity capital of Rs 15.83 crore. Face value per share is Rs 10.

Mangalam Drugs & Organics added that it will respond to the same within stipulated time after the receipt of audit report. The company believes that the audit was successful.

Net profit of Mangalam Drugs and Organics rose 63.16% to Rs 6.20 crore on 6.6% decline in net sales to Rs 76.90 crore in Q3 December 2016 over Q3 December 2015.

Mangalam Drugs & Organics manufactures active pharma ingredients (APIs), intermediates and specialty chemicals.

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Moschip Semiconductor Technology signs binding MoU for establishment and maintenance of Smart Center in Amaravathi, Andhra Pradesh
Feb 20,2017

Moschip Semiconductor Technology has signed a binding MoU for establishment and maintenance of Smart Center with Centralised Command and Monitoring System in Amaravathi, state of Andhra Pradesh on sub-contracting basis. The total value of the sub-contract is Rs 83 crore to be implemented in 24 months, providing CCMS solution to selected Gram Panchayats in the State of Andhra Pradesh.

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Integrated Capital Services BTG Global Advisory announces further expansion
Feb 20,2017

Integrated Capital Services BTG Global Advisory (www.btgga.com), a UK based Company limited by guarantee, of which Integrated Capital Services (ICSL) is a founder member, announced further expansion of its global reach with the appointment of TCP LATAM, a management and investment boutique focused on middle market companies in special situations in Brazil and South America.

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Fitch: House Price Growth to Slow Sharply in Hottest APAC Markets
Feb 20,2017

House price growth is likely to decelerate sharply in several Asia-Pacific (APAC) markets in 2017, as affordability constraints, increasing supply and tighter lending and regulatory standards dampen price dynamics, Fitch Ratings says in its latest Global Housing and Mortgage Outlook.

Australia, New Zealand and China, the markets with the regions biggest recent price rises, will experience a pronounced and overdue slowdown. We expect them to record single-digit house price growth, rather than the double-digit growth experienced last year. However, stable or improving economic growth and employment, coupled with low interest rates, limited supply and continued population growth, will support price increases in all but one of the six APAC economies covered in Fitchs report, even though prices are now out of line with incomes in several markets. Only Singapore is expected to see house prices fall, with Fitch forecasting prices to drop by a further 4% after three consecutive years of decline.

Fitch forecasts Australian nominal house-price gains to slow across the countrys eight capital cities to 3% in 2017, from 10.9% in 2016, although population growth will support prices in Sydney and Melbourne despite stretched affordability. Falling rental yields, increasing supply and fewer prospects for capital growth will weigh on the market, particularly in regional areas. Tighter lending standards, including growth limits on banks investment loan portfolios, should dampen demand.

Demand for housing in New Zealand remains strong, particularly in Auckland and surrounding areas, but we expect nominal house-price growth to slow to 5% nationally on affordability pressure and tighter regulation. Measures of relative home price expensiveness have deteriorated more in New Zealand since 2010 than in any other country covered by our report. New Zealand also had the largest regional price-growth disparity over the last four years, with a difference of over 80 percentage points between Auckland, where prices increased by some 76.3%, and those on the West Coast, which saw prices fall by 5.1% over the same period.

We expect a sharp drop in Chinas tier 1 city house-price growth to 2.5%, from a 25% rise in 2016 and several years of rapid price increases, partly in response to tougher rules on home purchases and minimum loan deposits. The market should also cool in other tiers, although at varying rates. However, we do not anticipate a major correction, as the Chinese authorities directly control many aspects of the housing and mortgage markets. Ongoing urbanisation, low interest rates and strong income growth will also support prices.

House price gains in Japan and South Korea are forecast to slow marginally. Ageing demographics are a long-term constraint in both markets, although the 2020 Olympic games will drive Tokyo prices higher in the near-term. Oversupply and high household indebtedness in South Korea will gradually soften the market.

Singapore is the only APAC market for which we have a stable/negative outlook. An influx of new supply, slowing immigration, a soft economy and ongoing measures to cool the property market are likely to continue to dampen sentiment. However, mortgage delinquencies for the major banks should remain low - in line with the healthy labour market and strong household balance sheets, even as short-term rates rise over the next two years.

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TCS gains ahead of board meeting to consider share buyback
Feb 20,2017

Meanwhile, the S&P BSE Sensex was up 4.10 points or 0.01% at 28,472.85.

On the BSE, 17,000 shares were traded on the counter so far as against the average daily volumes of 96,194 shares in the past one quarter. The stock had hit a high of Rs 2,448 and a low of Rs 2,412 so far during the day.

The stock had hit a 52-week high of Rs 2,740 on 16 August 2016 and a 52-week low of Rs 2,054.70 on 15 November 2016. The stock had outperformed the market over the past one month till 17 February 2017, advancing 5.73% compared with the Sensexs 4.53% rise. The scrip had also outperformed the market over the past one quarter, gaining 12.42% as against the Sensexs 8.54% rise.

The large-cap company has equity capital of Rs 197.04 crore. Face value per share is Re 1.

On a consolidated basis, TCS net profit rose 3.20% to Rs 6814 crore on 1.54% increase in net sales to Rs 29735 crore in Q3 December 2016 over Q2 September 2016.

TCS is an IT services, consulting and business solutions organization.

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Board of MIC Electronics approves increase in authorised capital and conversion of debt
Feb 20,2017

MIC Electronics announced the Board of Directors of the Company at its meeting held on 18 February 2017, approved the following:

1. Increasing the Authorised Share Capital of the company by Rs. 4 crore.

2. Conversion of Debt into Equity by way of issue of 4,32,93,974 (Four Crores Thirty Two Lakhs Ninety Three Thousand Nine Hundred and Seventy Four) equity shares at issue price of Rs. 20/- per share (Face Value of Rs. 2/- each at premium of Rs. 18/- each).

3. Calling for Extra-ordinary General Meeting of the Company scheduled to be held on 20 March 2017 at 11.00 AM at Registered office of the Company situated at A-4/II Electronic Complex, Kushaiguda, Hyderabad - 500062, to consider and approve the Item No. 1 and 2 by the members.

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Moodys: World Banks financial position remains robust due to strong capital base
Feb 20,2017

The financial position of the International Bank for Reconstruction and Development (IBRD or World Bank, Aaa stable) remains robust reflecting a strong capital base and liquidity position and substantial protection from large callable capital, says Moodys Investors Service in a report.

The IBRDs strict lending limitations, combined with its diversified portfolio composition and stable asset quality, ensure that it has sufficient capital to cope with its business risk. The bank uses various safeguards, including statutory lending limits, to protect its capital adequacy.

Under the lenders preferred creditor status, members of the World Bank Group, who are also the borrowers, pledge to prioritize debt service to the IBRD over other obligations, such as payments to market or bilateral creditors.

The IBRDs strong capital base should allow it to withstand crises in developing countries without impairing its ability to service its obligations, said William Foster, a Vice President and Senior Credit Officer at Moodys.

The IBRDs assets continue to perform very well, with only one country, Zimbabwe (unrated), in so-called nonaccrual status as of the end of the fiscal year (FY) 2016. Unlike some other multilaterals, the IBRD does not reschedule or write off its problem loans. Instead, it continues to seek full recovery of all arrears.

Problem loans at the bank have steadily decreased since FY 2005 when the ratio of non-performing loans to total loans outstanding reached 3.4%.

As a result of its development mandate and global scope, the bank lends to riskier sovereigns, some of which have no, or very limited access, to capital markets. The potential challenges arising from its lending activity partially offset its strengths.

There is a low probability that the IBRD could experience a material rise in non-performing loans should there be simultaneous financial crises that impact several large borrowers at once, or a regional crisis in one of its largest borrowing regions.

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Jaiprakash Power Ventures reduces outstanding loans by Rs 3058 crore
Feb 20,2017

Jaiprakash Power Ventures announced that the Stakeholders Relationship Committee at a Meeting held on 18 February 2017, has allotted 305.80 crore equity shares of Rs 10 each at a price of Rs 10 per share to the lenders pursuant to implementation of SDR.

Subsequent to the allotment of the aforesaid shares, the lenders would collectively hold 51% of the post issue equity share capital and the outstanding loan amount of the Company would stand reduced by Rs 3058 crore.

With the aforesaid, the Company as well as its subsidiaries shall cease to be subsidiaries of Jaiprakash Associates.

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