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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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Aban Offshore slips after net loss widens in Q4
May 30,2017

The result was announced after market hours yesterday, 29 May 2017.

The stock had dropped 3.73% to Rs 189.60 yesterday, 29 May 2017 ahead of its results.

Meanwhile, the S&P BSE Sensex was up 19.55 points, or 0.06%, to 31,128.83. The S&P BSE Small-Cap index was down 12.35 points, or 0.08%, to 14,842.78.

On the BSE, 1.38 lakh shares were traded in the counter so far, compared with average daily volumes of 1.81 lakh shares in the past one quarter. The stock had hit a low of Rs 180.65 so far during the day, which is also a 52-week low for the stock. The stock had hit a high of Rs 188.70 in intraday trade. The stock had hit a 52-week high of Rs 286 on 25 October 2016.

The stock had underperformed the market over the past one month till 29 May 2017, falling 15.41% compared with the 3.98% gains in the Sensex. The scrip had also underperformed the market in past one quarter, falling 20.49% as against Sensexs 8.23% gains.

The small-cap company has equity capital of Rs 11.67 crore. Face value per share is Rs 2.

Aban Offshores total income from operations fell 37.89% to Rs 390.86 crore in Q4 March 2017 over Q4 March 2016.

In a separate announcement, Aban Offshore said that its board approved raising additional long term resources upto $400 million through issue of foreign currency convertible bonds (FCCBs), global depository receipts (GDRs), American depository receipts (ADRs), etc. The board also approved the issue of equity related securities to qualified institutional buyers upto Rs 2500 crore.

Aban Offshore owns and operates several offshore drilling rigs, drill ships, and a floating production facility.

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MMTC slumps after reverse turnaround in Q4
May 30,2017

The result was announced after market hours yesterday, 29 May 2017.

Meanwhile, the BSE Sensex was up 41.44 points, or 0.13%, to 31,150.72. The BSE Small-Cap index was down 3.07 points or 0.02% at 14,852.06

On the BSE, so far 1.36 lakh shares were traded in the counter, compared with average daily volumes of 3.04 lakh shares in the past one quarter. The stock had hit a high of Rs 58.70 and a low of Rs 54.80 so far during the day. The stock hit a 52-week high of Rs 73.85 on 12 January 2017. The stock hit a 52-week low of Rs 35 on 31 May 2016.

The stock had underperformed the market over the past one month till 29 May 2017, falling 10.17% compared with the 3.98% gain in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 6.04% as against Sensexs 8.23% gain.

The mid-cap company has equity capital of Rs 100 crore. Face value per share is Re 1.

MMTCs total income rose 25.97% to Rs 2545.37 crore in Q4 March 2017 over Q4 March 2016.

MMTCs board of directors has recommended a dividend of Rs 0.30 per share for the year ended 31 March 2017.

MMTC is a leading international trading company. Government of India (GoI) held 89.927% stake in MMTC (as per the shareholding pattern as on 31 March 2017).

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Nestle India introduces Iron Fortified Noodles
May 30,2017

Nestle India announced the launch of Iron Fortified Noodles as part of Simply Good 2020 commitment. The Company has launched the iron fortified variant of the Maggi Masala Noodles.

The iconic Maggi brand is on a mission to support home cooks with healthier and tastier choices, by simplifying ingredients, reducing sodium and increasing micronutrient fortification. The Company has introduced GDA on packs to give transparent information about nutrients like energy, total fats, saturated fats, sugar and sodium.

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Ind-Ra: Recent Performance of Microfinance Securitisation Calls for A Tighter Structure to Handle Extreme Events
May 30,2017

India Ratings and Research (Ind-Ra) believes that the higher volatility of default in microfinance (MFI) loans warrants higher rating level stresses and structural mechanisms to ensure rating stability. Ind-Ra believes that if the default rate (PAR>0 as % of original principal of the pool) in an MFI transaction remains 20% higher than the budgeted stress levels for the first nine months, then the senior class, which is typically rated in the A rating category, may be downgraded by three notches. Also, a 10% higher-than-budgeted stress for the first nine months could lead to a four-notch downgrade of a BB+ rated junior tranche.

In the recently published report PSBs Relying on Inorganic Route to Grow Retail Book, Ind-Ra has highlighted that the past performance of MFI loans is a poor proxy of future defaults because of the higher default volatility of this asset class than of other retail loan asset classes. Ind-Ra believes structural mitigants and an appropriate default assumption lend stability to these transactions. The pass through certificates (PTCs) issued by MFI securitisation trusts are typically promised a timely payment of interest and ultimate payment of principal (TIUP) structure. Ind-Ra believes that such structure lends more stability to the rating of senior class tranche than a timely interest and timely principal structure. Many MFI securitisation transactions closed during 4QFY17 had a default based trigger which allows EIS to be trapped in the EIS account. The trapped EIS has to be used to amortise PTCs. Quicker amortisation of PTCs has allowed the transactions to withstand slightly more stress, leading to better rating stability.

Maharashtra, Karnataka, Madhya Pradesh, Gujarat and Uttar Pradesh together contribute 90% to the total defaults in four moderately stressed Ind-Ra rated transactions which are seasoned by less than nine months. Several districts in these five states have witnessed a higher level of defaults. The reasons behind the high delinquencies in these districts vary from state to state and are largely a manifestation of local political interference, drought and event risks such as demonetisation coupled with borrower overleverage.

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IL&FS Engineering surges after reporting stellar Q4 numbers
May 30,2017

The result was announced after market hours yesterday, 29 May 2017.

Meanwhile, the S&P BSE Sensex was up 49.48 points, or 0.16% at 31,158.76. The S&P BSE Small-Cap index was up 6.70 points, or 0.05% at 14,861.83.

High volumes were witnessed on the counter. On the BSE, 1.39 lakh shares were traded on the counter so far as against the average daily volumes of 22,697 shares in the past one quarter. The stock had hit a high of Rs 57.50 and hit a low of Rs 53.70 so far during the day.

The stock had hit a 52-week high of Rs 66 on 9 September 2016 and hit a 52-week low of Rs 36.80 on 22 November 2016. The stock had underperformed the market over the past one month till 29 May 2017, declining 10.36% compared with the Sensexs 3.98% rise. The scrip had also underperformed the market over the past one quarter declining 18.58% as against the Sensexs 8.23% rise.

The small-cap company has equity capital of Rs 131.12 crore. Face value per share is Rs 10.

IL&FS Engineering and Construction Companys board approved issuance of non- convertible debentures for an amount upto Rs 300 crore, in one or more tranches, on a private placement basis.

The companys board approved issuance of commercial papers for an amount upto Rs 200 crore in one or more tranches.

IL&FS Engineering and Construction Company is one of the leading infrastructure development, construction and project management companies in India.

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Jubilant FoodWorks trips after disappointing Q4 results
May 30,2017

The announcement was made after market hours yesterday, 29 May 2017.

The stock has dropped 11.37% in three sessions to its ruling price of Rs 894.40 from a close of Rs 1,009.25 on 25 May 2017.

Meanwhile, the S&P BSE Sensex was up 34.67 points or 0.11% at 31,143.95. The S&P BSE Mid-Cap index was up 75.80 points or 0.53% at 14,445.70.

High volumes were witnessed on the counter. On the BSE, 3.2 lakh shares were traded on the counter so far as against the average daily volumes of 54,564 shares in the past one quarter. The stock had hit a high of Rs 901.50 and a low of Rs 817.60 so far during the day.

The stock had hit a 52-week high of Rs 1,298.80 on 2 August 2016 and a 52-week low of Rs 761 on 26 December 2016. The stock had underperformed the market over the past one month till 29 May 2017, falling 9.58% compared with the 3.98% gains in the Sensex. The scrip had also underperformed the market in past one quarter, dropping 6.79% as against Sensexs 8.23% gains.

The mid-cap company has equity capital of Rs 65.95 crore. Face value per share is Rs 10.

Jubilant FoodWorks board recommended dividend of Rs 2.50 per share for the year ended 31 March 2017 (FY 2017).

The companys same store growth (SSG) was reported at negative 7.5% in Q4 March 2017 compared with a growth of 2.9% in Q4 March 2016.

Q4 revenue was impacted by demonetization during January-February 2017, its impact was partly offset by the increase in online ordering sales and incremental revenue due to addition of new restaurants, the company said in a statement.

Negative SSG and increase in cost primarily on account of expansion resulted in reduction in earnings before interest, tax, depreciation and amortization (EBITDA). Higher depreciation related to network expansion also impacted net profit in Q4. Earnings reflect the impact of exceptional items of Rs 12.17 crore related to one time separation cost incurred as part of manpower rationalization exercise carried out by the company during the quarter.

Jubilant FoodWorks is part of Jubilant Bhartia group and Indias largest food service company with a network of Dominos Pizza restaurants pan India. The company & its subsidiary have the exclusive rights to develop and operate Dominos Pizza brand in India, Sri Lanka, Bangladesh and Nepal. The company also has exclusive rights for developing and operating Dunkin Donuts restaurants for India.

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Dredging Corporation sinks after weak Q4 result
May 30,2017

The result was announced after market hours yesterday, 29 May 2017.

Meanwhile, the S&P BSE Sensex was up 42.62 points or 0.14% at 31,151.90. The BSE Small-Cap index was down 4.42 points or 0.03% at 14,850.71.

On the BSE, 15,000 shares were traded on the counter so far as against the average daily volumes of 70,541 shares in the past one quarter. The stock had hit a high of Rs 576.10 and a low of Rs 561.95 so far during the day. The stock had hit a 52-week high of Rs 720.95 on 23 March 2017 and a 52-week low of Rs 360.20 on 9 November 2016.

The stock had underperformed the market over the past one month till 29 May 2017, falling 6.58% compared with the 3.98% gain in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 32.37% as against Sensexs 8.23% gain.

The small-cap company has equity capital of Rs 28 crore. Face value per share is Rs 10.

State-run Dredging Corporation of India provides dredging services to the major ports of the country. The government holds 73.47% stake in Dredging Corporation of India (as on 31 March 2017).

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BPCL skids after reporting dismal Q4 numbers
May 30,2017

The result was announced after market hours yesterday, 29 May 2017.

The stock had risen 8.58% in five sessions to Rs 756 yesterday, 29 May 2017, from a close of Rs 696.20 on 22 May 2017, ahead of its Q4 results.

Meanwhile, the S&P BSE Sensex was up 53.46 points or 0.17% at 31,162.74.

On the BSE, 93,091 shares were traded on the counter so far as against the average daily volumes of 1.66 lakh shares in the past one quarter. The stock had hit a high of Rs 747 and a low of Rs 725.75 so far during the day. The stock had hit a record high of Rs 769.85 yesterday, 29 May 2017. The stock had hit a 52-week low of Rs 461 on 24 June 2016.

The stock had outperformed the market over the past one month till 29 May 2017, rising 5.11% compared with the 3.98% gains in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 12.9% as against Sensexs 8.23% gains.

The large-cap company has equity capital of Rs 1446.17 crore. Face value per share is Rs 10.

BPCLs board recommended a final dividend of Re 1 per share for the year ended 31 March 2017 (FY 2017).

The net under-recovery absorbed by the company was nil in Q4 March 2017 and also in Q4 March 2016 on sale of sensitive petroleum products.

The average gross refining margin in Q4 March 2017 fell to $6.01 per barrel in Q4 March 2017 from $6.3 per barrel in Q4 March 2016.

BPCLs board recommended 1:2 bonus issue of shares.

BPCL is a state-run oil refining-cum-marketing company. The Government of India held 54.93% stake in BPCL (as per the shareholding pattern as on 31 March 2017).

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Board of Voith Paper Fabrics India recommends final dividend
May 30,2017

Voith Paper Fabrics India announced that the Board of Directors of the Company at its meeting held on 25 May 2017, inter alia, have recommended the final dividend of Rs 4 per equity Share (i.e. 40%) , subject to the approval of the shareholders.

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Board of Vikram Thermo (India) recommends final dividend
May 30,2017

Vikram Thermo (India) announced that the Board of Directors of the Company at its meeting held on 25 May 2017, inter alia, have recommended the final dividend of Rs 1.65 per equity Share (i.e. 16.5%) , subject to the approval of the shareholders.

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NBCC (India) to participate in Smart Industrial City project
May 30,2017

NBCC (India) announced that its Board has approved the participation of NBCC in joint venture with Government of Maharashtra and private entity to develop a Smart Industrial City at Pen, Distt Raigad near Navi Mumbai on PPP Model.

The smart city will offer state of art integrated infrastructures and Clean, Green & Vibrant environment. It will offer best experiences of business, living, learning, recreation and health facilities at reasonable cost in one place close to financial capital of Country.

In addition to PMC business opportunities, the project will generate significant income to NBCC through profit sharing as SPV Partner. The detailed terms and conditions will be submitted after finalization among collaborators.

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C & C Constructions announces resignation of director
May 30,2017

C & C Constructions announced that Yogita Jadhav, Nominee Director has resigned from the directorship of the Company with effect from 29 May 2017.

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Board of Marathon Nextgen Realty accepts resignation of director
May 30,2017

Marathon Nextgen Realty announced that the Board of Directors of the Company at its meeting held on 29 May 2017 has accepted the resignation of V Nagarajan as an Independent Director of the Company with immediate effect.

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Bihar Sponge Iron appoints CFO
May 30,2017

Bihar Sponge Iron announced that the Board of Directors of the Company at its meeting held on 29 May 2017 has appointed Anil Kumar Sinha as Chief Financial Officer (CFO) of the Company with effect from 29 May 2017.

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PGCIL declines after reporting Q4 results
May 30,2017

The result was announced after market hours yesterday, 29 May 2017.

The stock had risen 4.9% in two sessions to settle at Rs 208.45 yesterday, 29 May 2017, from a close of Rs 198.70 on 25 May 2017.

On the BSE, 92,096 shares were traded on the counter so far as against the average daily volumes of 4.83 lakh shares in the past one quarter. The stock had hit a high of Rs 209 and a low of Rs 203.60 so far during the day. It had hit a record high of Rs 214 yesterday, 29 May 2017 and a 52-week low of Rs 148.05 on 2 June 2016.

The stock had underperformed the market over the past one month till 29 May 2017, rising 0.41% compared with the 3.98% gains in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 8.57% as against Sensexs 8.23% gains.

The large-cap company has equity capital of Rs 5231.59 crore. Face value per share is Rs 10.

Power Grid Corporation of Indias (PGCIL) net profit rose 22.17% to Rs 1916.36 crore on 17.87% growth in total income to Rs 7054.45 crore in Q4 March 2017 over Q4 March 2016.

The companys board approved non sovereign loan assistance from Asian Development Bank (ADB) of $500 million for green energy corridor and grid strengthening project.

The board also approved investments in two projects totalling Rs 645.68 crore.

PGCILs board recommended final dividend of Rs 3.35 per share for the year ended 31 March 2017 (FY 2017).

Power Grid Corporation of India is a state run electric power transmission utility company. The Government of India holds 57.9% stake in the firm as at 31 March 2017.

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