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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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Swan Energy provides update on its LNG Port Project in Gujarat
Dec 16,2016

Swan Energy announced that Government of Gujarat has now decided to participate by investing 26% in Equity of SWANS LNG Port Project in Gujarat.

Swan Energy is developing Indias first LNG Port along with Floating and Regasification Unit (FSRU) near Jafrabad in Gujarat state with a total investment of Rs. 5900 crore. A subsidiary Company and special purpose vehicle Company namely Swan LNG is implementing this project.

Government of Gujarat has now decided to participate by investing 26% in equity of the LNG Port Project through Gujarat State Petronet and Gujarat Maritime Board jointly.

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Hindustan Unilever provides update on Ponds Exports
Dec 16,2016

Hindustan Unilever announced that Ponds Exports (PEL), a subsidiary of Hindustan Unilever, engaged in the business of manufacturing of leather products, has entered into an agreement with Hindustan Foods for sale of certain movable assets and inventory with respect to the leather business of PEL.

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Hindustan Foods to acquire leather business of Ponds Exports
Dec 16,2016

Hindustan Foods announced that the Company has entered into an agreement for buying certain movable assets and stocks in respect of the leather business of Ponds Exports, a subsidiary of Hindustan Unilever. This marks the entry of Hindustan Foods in the Leather shoes exports space with a global clientele.

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Saksoft surges after acquiring majority stake in technology solution consulting firm
Dec 16,2016

The announcement was made after market hours yesterday, 15 December 2016.

Meanwhile, the S&P BSE Sensex was down 7.57 points or 0.03% at 26,511.50.

On the BSE, 44,998 shares were traded in the counter so far as against average daily volume of 3,344 shares in the past one quarter. The stock had hit a high of Rs 252 and a low of Rs 221.65 so far during the day.

Saksoft said that the cost of acquisition of 60% stake in DreamOrbit Softech is Rs 16.75 crore. The acquisition of the balance 40% stake in Dreamorbit will be completed in a phased manner by 2019.

DreamOrbit Softech is a technology solution consulting firm with a focus on providing IT services to the logistics industry. With this acquisition, Saksoft will further strengthen its offerings in the digital space with special emphasis on internet of things (IoT).

Incorporated in 2010, DreamOrbit has been providing specialist technology solutions for the logistics & transportation including air, land & ocean enterprises and has offices in Bengaluru (India), Delaware (USA). DreamOrbits consolidated revenues for the financial year FY 2016 was Rs 28.86 crore.

DreamOrbit has 230 employees and works with 40+ active customers. Almost all the revenues are offshore driven and cater primarily to the US market with a small portion coming in from rest of the world. DreamOrbit has been recognised in Deloitte Technology Fast 50 India for the past three years.

Saksofts consolidated net profit fell 1.06% to Rs 4.65 crore on 3.94% decline in net sales to Rs 61.43 crore in Q2 September 2016 over Q1 June 2016.

Saksoft is a provider of Information Management solutions to successful organizations around the world.

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Indias services export declines 1.7% in October 2016
Dec 16,2016

As per the data released by the Reserve Bank of India, Indias services exports declined 1.7% to US$ 13.11 billion in October 2016 over October 2015. Meanwhile, Indias services imports moved up 9.5% to US$ 7.68 billion in October 2016. Indias services trade surplus narrowed 14.2% to US$ 5.43 billion in October 2016 from US$ 6.33 billion in October 2015.

Indias services trade surplus fell 6.4% to US$ 37.79 billion in April-October 2016 over a year ago, with 7.9% rise in services imports to US$ 54.94 billion. Indias services exports rose mere 1.6% to US$ 92.73 billion in April-October 2016.

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Credit Analysis & Research to consider Q3 results and interim dividend
Dec 16,2016

Credit Analysis & Research announced that the meeting of the Board of Directors of the Company will be held on 03 February 2017, inter alia, to consider and approve the Unaudited Financial Results of the Company for the quarter and nine months ended 31 December 2016 and the declaration of Interim Dividend, if any for the financial year 2016-17 (Q3).

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Nitin Alloys Global provides update on scheme of arrangement
Dec 16,2016

Nitin Alloys Global announced that the Honorable High Court of Judicature at Bombay had on 13 October 2016 approved the Scheme of Arrangement for demerger of the Castings Business of Nitin Castings Private Limited (the Demerged Company) into Nitin Alloys Global Limited (the Resulting Company) and their respective shareholders (Scheme).

The Company has received the certified copy of the order of the Honble High Court sanctioning the Scheme on 13 December 2016. This Scheme was approved by the Shareholders of the Company at the Court Convened Meeting held on 20 June 2016.

The relevant Form INC-28 for making the Scheme effective has been filed with the Registrar of Companies on 15 December 2016. Accordingly, the Scheme shall be effective from the Appointed Date i.e. 01 April 2015. The Company will also upload the said order on its website.

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Alembic Pharmaceuticals receives ANDA approval for Itraconazole Capsules
Dec 16,2016

Alembic Pharmaceuticals announced that the Company has received its Abbreviated New Drug Application (ANDA) for Itraconazole Capsules, 100 mg.

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Alembic Pharma gains after USFDA approval for itraconazole capsules
Dec 16,2016

The announcement was made during trading hours today, 16 December 2016.

Meanwhile, the BSE Sensex was down 25.45 points, or 0.10%, to 26,493.62.

On the BSE, so far 1,314 shares were traded in the counter, compared with average daily volumes of 9,873 shares in the past one quarter. The stock had hit a high of Rs 636.75 and a low of Rs 621.55 so far during the day.

The stock hit a 52-week high of Rs 727.25 on 30 December 2015. The stock hit a 52-week low of Rs 514.35 on 5 February 2016. The stock had outperformed the market over the past 30 days till 15 December 2016, rising 1.37% compared with the 0.84% rise in the Sensex. The scrip had also outperformed the market in past one quarter, falling 5.98% as against Sensexs 7.27% decline.

The large-cap company has equity capital of Rs 37.70 crore. Face value per share is Rs 2.

Alembic Pharmaceuticals announced that the company has received approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for itraconazole capsules, 100 mg. The approved ANDA is therapeutically equivalent to the reference listed drug product (RLD), Sporanox Capsules, 100 mg of Janssen Pharmaceuticals, Inc.

Itraconazole capsules are indicated for the treatment of blastomycosis, histoplasmosis and aspergillosis in immunocompromised and non-immunocompromised patients and onychomycosis in non-immunocompromised patients.

Itraconazole capsules had an estimated market size of $42 million for twelve months ending December 2015 according to MS. Alembic now has a total of 52 ANDA approvals (46 final approvals and 6 tentative approvals) from USFDA.

On a consolidated basis, net profit of Alembic Pharmaceuticals declined 58.47% to Rs 119.83 crore on 13.13% decline in net sales to Rs 871.56 crore in Q2 September 2016 over Q2 September 2015.

Alembic Pharmaceuticals, a vertically integrated research and development pharmaceutical company, manufactures and markets generic pharmaceutical products all over the world.

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Indias trade deficit widens to 16-months high in November 2016
Dec 16,2016

Indias merchandise exports increased 2.3% to US$ 20.01 billion in November 2016 over a year ago. Meanwhile, merchandise imports surged 10.4% to US$ 33.02 billion. The trade deficit jumped 25.9% to 16-months high of US$ 13.01 billion in November 2016 from US$ 10.34 billion in November 2015.

Oil imports rose 5.9% to US$ 6.84 billion, while the non-oil imports gained 11.7% to US$ 26.18 billion in November 2016 over November 2015. The share of oil imports in total imports was 20.7% in November 2016, compared with 21.6% in November 2015. Indias basket of crude oil increased 4.6% to US$ 44.46 per barrel in November 2016 over November 2015.

Among the non-oil imports, the major contributors to the overall rise in imports were gold imports rising 23.2% to US$ 4.36 billion, pearls, precious & semi-precious stones 60.9% to US$ 1.57 billion, crude petroleum & products 5.9% to US$ 6.84 billion, coal 32.5% to US$ 1.28 billion, pulses 53.6% to US$ 0.61 billion, electronic goods 5.4% to US$ 3.54 billion, electrical & non-electrical machinery 8.3% to US$ 2.23 billion and chemical material & products 23.6% to US$ 0.46 billion. The imports also improved for vegetable oil by 9.6% to US$ 0.91 billion, metaliferrous ores & minerals 10.9% to US$ 0.54 billion, project goods 30.8% to US$ 0.21 billion, wood & products 12.4% to US$ 0.44 billion and artificial resins 4.9% to US$ 0.98 billion.

On the other hand, the imports have declined for transport equipment 37.9% to US$ 1.19 billion, iron & steel 16.2% to US$ 0.93 billion, silver 36.3% to US$ 0.18 billion, medicinal & pharmaceutical products 8.4% to US$ 0.39 billion, organic & inorganic chemicals 2.5% to US$ 1.21 billion, fruits & vegetables 9.8% to US$ 0.16 billion, pulp and waste paper 16.4% to US$ 0.06 billion and textile yarn fabric, made-up articles 9.3% to US$ 0.12 billion in November 2016.

On exports front, the engineering goods recorded an increase in exports by 11.6% to US$ 4.96 billion, followed by iron ore 1012.8% to US$ 0.19 billion, marine products 27.9% to US$ 0.57 billion, petroleum products 3.4% to US$ 2.41 billion, fruits & vegetables 43.6% to US$ 0.25 billion, drugs & pharmaceuticals 5.8% to US$ 1.27 billion, organic & inorganic chemicals 5.9% to US$ 1.07 billion, and leather & leather products 6.4% to US$ 0.42 billion.

However, the exports declined for, gems & jewellery 12.8% to US$ 2.53 billion, rice 18.2% to US$ 0.35 billion, man-made yarn/fabrics/made-ups 11.0% to US$ 0.30 billion, RMG of all textiles 2.9% to US$ 1.15 billion, coal & other ores, minerals 8.1% to US$ 0.24 billion, plastic & linoleum 2.2% to US$ 0.43 billion, tea 6.9% to US$ 0.06 billion, in November 2016.

Merchandise exports in rupees increased 4.6% to Rs 135316 crore, while imports moved up 13.0% to Rs 223290 crore in November 2016 over November 2015. The trade deficit widened to Rs 87973 crore in November 2016 compared with Rs 68335 crore in November 2015.

Indias merchandise exports rose 0.3% to US$ 174.92 billion, while merchandise imports fell 8.1% to US$ 241.10 billion in April-November 2016. The decline in imports was driven by a 13.4% plunge in oil imports to US$ 53.28 billion. Indias merchandise trade deficit declined to US$ 66.18 billion in April-November 2016 from US$ 87.91 billion in April-November 2015.

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Confidence Petroleum hits the roof on buyback proposal
Dec 16,2016

The announcement was made after market hours yesterday, 15 December 2016.

Meanwhile, the BSE Sensex was down 34.16 points, or 0.13%, to 26,484.91.

On the BSE, so far 17,000 shares were traded in the counter, compared with average daily volumes of 3.84 lakh shares in the past one quarter.

The stock hit a 52-week high of Rs 12.16 on 4 November 2016. The stock hit a 52-week low of Rs 4.54 on 13 June 2016. The stock had underperformed the market over the past 30 days till 15 December 2016, falling 18.67% compared with the 0.84% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 7.82% as against Sensexs 7.27% decline.

The small-cap company has equity capital of Rs 25.88 crore. Face value per share is Re 1.

On a consolidated basis, net profit of Confidence Petroleum India rose 47.83% to Rs 1.02 crore on 32.99% rise in net sales to Rs 111.39 crore in Q2 September 2016 over Q2 September 2015.

Confidence Petroleum India is Indias leading LPG bottler and largest LPG cylinder manufacturing company. The allied activities include LPG marketing, auto LPG, CNG/high pressure cylinders & LPG blending.

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Claris Lifesciences jumps after selling its global generic injectables business
Dec 16,2016

The announcement was made after market hours yesterday, 15 December 2016.

Meanwhile, the S&P BSE Sensex, was down 24.13 points or 0.09% at 26,509.35.

Huge volumes were witnessed on the counter. On the BSE, 17.12 lakh shares were traded in the counter so far, compared with an average daily volume of 2.45 lakh shares in the past one quarter. The stock had hit a high of Rs 430.10 and low of Rs 386.20 so far during the trading session.

The small cap company has equity capital of Rs 54.57 crore. Face value per share is Rs 10.

Claris Lifesciences announced that it has entered into definitive agreements with Baxter International Inc. for the sale of its global generic injectables business for a total gross consideration of $625 million.

Claris Lifesciences announced that the board of directors of the company at a meeting held yesterday, 15 December 2016 approved the sale and transfer of the injectable business of the company by way of sale of the subsidiary companies, namely, Claris Injectables Limited, Claris Pharmaservices, Elda International DMCC, Claris Lifesciences Inc., Claris Lifesciences (UK) Limited, Claris Lifesciences (Aust) Pty. Limited, and Claris Lifesciences Philippines, INC.

Claris Lifesciences said that injectible business has been growing rapidly over the last few years and has attracted significant interest. The injectable business had contributed revenue of Rs 623 crore in Claris consolidated revenue for the year ended 31 March 2016 (FY 2016), which is 78% of the companys total revenue.

The expected date of the completion of sale is within 12 months. Claris intends to repatriate a significant majority of the net cash proceeds to the shareholders.

Baxter International is a US based company which provides a broad portfolio of essential renal and hospital products.

Claris Lifesciences consolidated net profit jumped 169.9% to Rs 32.39 crore on 0.7% decline in net sales to Rs 192.13 crore in Q2 September 2016 over Q2 September 2015.

Claris Lifesciences is the holding company of Claris Injectables. Claris Injectables is a wholly-owned subsidiary of Claris Injectables dealing in specialty injectables business. Claris Lifesciences also has minority stake in Claris Otsuka Private Limited, a joint venture with Japans Otsuka Pharmaceutical Factory, Inc. and Mitsui & Co. for Infusion business in India and emerging markets.

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Capital Trust announces change in CFO
Dec 16,2016

Capital Trust announced that Nitin Dhingra has been appointed as Chief Financial Officer of the Company in place of Mukesh Sehgal who has resigned from the Company.

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Deep Industries allots equity shares
Dec 16,2016

Deep Industries announced that the QIP Committee of Board of Directors has at its meeting held on 16 December 2016 approved the issue and allotment of 28,00,000 Equity Shares of Face Value of Rs. 10/- each to eligible Qualified Institutional Buyers at the issue price of Rs. 228/- per Equity Share, aggregating to Rs. 63.84 crore.

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J&K Bank slips after weak Q2 results
Dec 16,2016

The result was announced after market hours yesterday, 15 December 2016.

Meanwhile, the BSE Sensex was down 16.47 points, or 0.06%, to 26,502.60.

On the BSE, so far 1.62 lakh shares were traded in the counter, compared with average daily volumes of 3.38 lakh shares in the past one quarter. The stock had hit a high of Rs 60.30 and a low of Rs 57.15 so far during the day.

The stock hit a 52-week high of Rs 91.95 on 5 October 2016. The stock hit a 52-week low of Rs 54.60 on 24 November 2016. The stock had outperformed the market over the past 30 days till 15 December 2016, rising 2.01% compared with the 0.84% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 26.17% as against Sensexs 7.27% decline.

The small-cap company has equity capital of Rs 48.48 crore. Face value per share is Re 1.

Jammu & Kashmir Bank (J&K Bank)s total income fell 1.69% to Rs 1816.67 crore in Q2 September 2016 over Q2 September 2015.

The banks gross non-performing assets (NPAs) stood at Rs 5682.96 crore as on 30 September 2016 as against Rs 4714.92 crore as on 30 June 2016 and Rs 3081.68 crore as on 30 September 2015.

The ratio of gross NPAs to gross advances stood at 11.33% as on 30 September 2016 as against 9.31% as on 30 June 2016 and 6.46% as on 30 September 2015.

The ratio of net NPAs to net advances stood at 6.81% as on 30 September 2016 as against 6.19% as on 30 June 2016 and 2.78% as on 30 September 2015.

The banks provisions and contingencies (excluding tax provisions) surged 683.76% to Rs 992.08 crore in Q2 September 2016 over Q2 September 2015.

J&K Bank is the only bank in the country with majority ownership vested with a state government. The J&K state government holds 53.17% stake in the bank as at 30 September 2016.

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