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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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Australia Stocks up, driven by miners
Mar 06,2017

Australian equity market finished marginally higher on Monday, 06 March 2017, due to gains in material stocks and financials offset the losses in defensive and energy stocks. The S&P/ASX 200 index finished 0.29%, or 16.899 points, higher at 5,746.5. Falling stocks outnumbered advancing ones on the Australia Stock Exchange by 586 to 485 and 335 ended unchanged. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was down 3.27% to 12.101.

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Board of PG Foils recommends dividend
Mar 06,2017

PG Foils announced that the Board of Directors of the Company at its meeting held on 6 March 2017, inter alia, have recommended the dividend of Rs 1.1 per equity Share (i.e. 11%) , subject to the approval of the shareholders.

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Ambuja Cements to hold AGM
Mar 06,2017

Ambuja Cements announced that the Annual General Meeting (AGM) of the company will be held on 31 March 2017.

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Infronics Systems to hold board meeting
Mar 06,2017

Infronics Systems will hold a meeting of the Board of Directors of the Company on 10 March 2017, to acquire small time Companies engaged in the Information Technology related business to achieve in organic growth.

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Mudunuru to hold board meeting
Mar 06,2017

Mudunuru will hold a meeting of the Board of Directors of the Company on 10 March 2017, to sell non critical Assets/ loss making divisions or Subsidiaries.

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Shilpa Medicare to hold board meeting
Mar 06,2017

Shilpa Medicare will hold a meeting of the Board of Directors of the Company on 9 March 2017, to consider declaration of Interim Dividend For Financial Year Ending 31St March, 2017.

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Looks Health Services to hold board meeting
Mar 06,2017

Looks Health Services will hold a meeting of the Board of Directors of the Company on 14 March 2017, for appointment of Ms. Avni Garnara as a Company Secretary & Compliance Officer of the Company W.e.f 3rd March, 2017.

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Mount Shivalik Industries to hold board meeting
Mar 06,2017

Mount Shivalik Industries will hold a meeting of the Board of Directors of the Company on 9 March 2017, to consider the proposals for the operation and management of Restaurants Business of the Company and other matters

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Lakshmi Precision Screws to hold board meeting
Mar 06,2017

Lakshmi Precision Screws will hold a meeting of the Board of Directors of the Company on 11 March 2017, for considering and approval of results for quarter and nine month ended on 31 December 2016.

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Pondy Oxides & Chemicals wins Silver Trophy for Top Exporter (Medium Enterprise)
Mar 06,2017

Pondy Oxides & Chemicals has been awarded Silver Trophy for Top Exporter (Medium Enterprise) from Engineering Export Promotion Council, Ministry of Commerce, Government of India.

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Govt. & industry should work towards sustainable development of commodity futures market: C.R. Chaudhary
Mar 06,2017

The Government together with industry should work towards protecting the rights of all stakeholders viz., producer, consumer and traders operating in the commodity futures market, Union Minister of State for Consumer Affairs, Food and Public Distribution, Mr C.R. Chaudhary said at an ASSOCHAM event.

n++We need to strike a balance between producer, consumer and trader for sustainable growth and development of commodity futures market in the long run,n++ said Mr Chaudhary.

n++Traders will grow when they deal fairly with consumers and producers, while the producers will become self-sufficient and satisfied if they get their return together with cost of production and labour and the consumers want things to be made available at affordable prices,n++ said the Union Minister of State.

n++In future trading, sometimes speculators play a major role in fixing and jacking up prices by making promises to purchase small quantity at very high prices,n++ he lamented.

Recalling the crisis in futures trade of guargum, the Minister said, n++About 3-4 years ago, some party just increased the prices that reached Rs 30,000 per quintal thereby making it equivalent to gold, I could never imagine that guar could be sold at more than Rs 3,000 per quintal but it was due to gamble of certain speculators and today no one is buying guar at Rs 2,500 per quintal.n++

He said that though farmers often complaint to him about drastic decline in prices of commodities. n++I told them that you too are responsible for the same to some extent as if there is a jump in prices of a particular commodity owing to some reason or the other, you start producing only the same like in the case of onion.n++

The Minister also said that excess production also considerably reduces the prices of the produce and even traders are also not able to make much profits.

n++As such we have to make some arrangements, like the government has to think on setting up cold storages near production hubs of perishable commodities so they can be stored and sold at an apt price,n++ said Mr Chaudhary.

n++Besides, there is also a need to simultaneously develop processing centres for the producer and trader to realise the right cost,n++ he added.

He also said that the industry should chalk out all the rules, regulations, policies that are hindering the growth of commodity futures market and carry out discussions thereby also considering each from the perspective of producer, consumer and trader.

He assured that his ministry would take up the industrys specific suggestions and demands about how to make commodity futures market more sustainable with concerned government authorities.

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FY18 Fertiliser Outlook: Debt-Funded Capex to Offset Benefits of Working Capital Improvements
Mar 06,2017

India Ratings and Research (Ind-Ra) has maintained a stable outlook for the fertiliser industry for FY18. The agency expects lower dependence on government subsidies, due to lower international prices of raw materials and finished products, to be a positive driver for the sector in FY18. Additional debt to fund capacity upgrade and expansion projects would be a key negative driver. A combination of lower dependence on government subsidies, which will lead to lower working capital debt, and higher term debt for capex is likely to result in stable debt levels across the sector. Moreover, the agency expects EBITDA levels of fertiliser companies to sustain at the FY17 levels, driven by consumption growth. Thus, stable debt and EBITDA levels would lead to stable credit metrics across the sector in FY18.

Ind-Ra expects demand for fertilisers to increase by about 5% yoy in FY18. Demand for fertilisers is likely to remain strong in FY18 on account of an increase in purchasing power of farmers due to a rise in farm income and a rise in minimum support price (MSP) of key rabi crops in in FY17.

Low domestic gas production, gas supply limitations and low international prices of key fertlisers would continue to affect domestic production.

Ind-Ra expects urea and decontrolled fertiliser manufacturers EBITDA levels in FY18 to sustain at the levels recorded for FY17, as volume growth would neutralise the impact of lower subsidy revenue due to stricter efficiency norms and low international prices of both inputs and finished goods. The agency expects the prices of imported fertilisers to continue to remain low in view of low energy and raw material costs and subdued international demand due to a change in Chinas crop policy.

Low raw material prices, stable subsidy allocation and reduced subsidy backlog would lead to an improved subsidy disbursement and, hence, a lower working capital debt in FY18. However, lower working capital debt would be offset by additional debt-funded capex to comply with energy efficiency norms applicable by FY19, as well as to execute expansion projects.

Ind-Ra believes that sustained debt and EBITDA levels would result in stable credit profiles of fertliser companies in FY18.

OUTLOOK SENSITIVITIES

Impact of Policy Changes; Urea Price Decontrol: Structural reforms leading to a reduction in subsidy dependence and timely release of subsidies could lead to a positive sector outlook.

Weakening in GOI Support: The sector outlook could be revised to negative, if the government of Indias (GOI) subsidy support reduces or there is a large debt-funded capex by fertiliser companies.

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Gartner Says Worldwide Server Revenue Declined 1.9 Percent in the Fourth Quarter of 2016, While Shipments Fell 0.6 Percent
Mar 06,2017

In the fourth quarter of 2016, worldwide server revenue declined 1.9 percent year over year, while shipments fell 0.6 percent from the fourth quarter of 2015, according to Gartner, Inc. In all of 2016, worldwide server shipments grew 0.1 percent, but server revenue declined 2.7 percent.

There were some distinct factors that produced the results for 2016, said Jeffrey Hewitt, research vice president at Gartner. Hyperscale data centers (e.g., Facebook, Google) grew and, at the same time, drove some significant server replacements. Enterprises grew at a lower rate as they continued to leverage server applications through virtualization and in some cases, service providers in the cloud.

From a regional perspective, Asia/Pacific was the only region to exhibit positive growth in both shipments and revenue in the fourth quarter of 2016. All other regions declined, with Latin America experiencing the largest decline in shipments (12.2 percent, while the Middle East and Africa declined 14.7 percent in terms of revenue.

Hewlett Packard Enterprise (HPE) led the worldwide server market based on revenue in the fourth quarter of 2016. The company ended the year with $3.4 billion in revenue for the fourth quarter of 2016 for a total share of 22.9 percent worldwide. However, revenue was down 11 percent compared with the same quarter in 2015.

Of the top five global vendors, only Dell and Huawei exhibited growth for the quarter, increasing 1.8 percent and 88.4 percent, respectively.

Table 1. Worldwide: Server Vendor Revenue Estimates, 4Q16 (U.S. Dollars)

Company4Q16
Revenue
4Q16 Market Share (%)4Q15
Revenue
4Q15 Market Share (%)4Q16-4Q15 Growth (%)HPE3,392,601,01222.93,813,592,26925.2-11.0Dell2,578,181,85417.42,533,495,99316.71.8IBM1,732,474,86111.71,974,018,08413.0-12.2Huawei1,249,813,3717.7610,225,4374.088.4Lenovo946,283,1856.41,136,141,4947.5-16.7Others5,039,143,53334.05,064,301,08733.5-0.5Total14,838,497,815100.015,131,774,365100.0-1.9

Source: Gartner (March 2017)

Dell grew 6.5 percent and moved into the No. 1 position in worldwide server shipments in the fourth quarter of 2016, with 19.1 percent of the market. HPE experienced a decline of 19.4 percent and fell to the second spot with 17.2 percent market share. Huawei experienced the strongest shipment growth in the fourth quarter of 2016, increasing 64 percent over the same period last year.

Table 2. Worldwide: Server Vendor Shipments Estimates, 4Q16 (Units)

Company4Q16
Shipments
4Q16 Market Share (%)4Q15
Shipments
4Q15 Market Share (%)4Q16-4Q15 Growth (%)Dell562,02919.1527,73617.96.5HPE504,40717.2625,54321.2-19.4Huawei245,6118.4149,7425.164.0Lenovo220,2967.5256,5718.7-14.1Inspur Electronics141,1324.8140,1664.70.7Others1,265,16942.11,255,74742.50.8Total2,938,644100.02,955,505100.0-0.6

Source: Gartner (March 2017)

x86 server demand increased in revenue by 1.1 percent, however, shipments declined 0.3 percent in the fourth quarter of 2016.

Full Year 2016 Server Market Results

In 2016, worldwide server shipments increased 0.1 percent, while revenue declined 2.7 percent.

x86 servers continue to be the predominant platform used for large-scale data center build-outs across the globe, and the growth of integrated systems (including hyperconverged integrated systems), while still relatively small as an overall percentage of the hardware infrastructure market, also provided a boost to the x86 server space for the year, said Mr. Hewitt. The outlook for 2017 suggests that modest growth will occur being driven primarily by service provider build-outs while the enterprise will show a slight decline in unit purchases with only slight growth in revenue.

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Prime Focus advances on bargain hunting
Mar 06,2017

Meanwhile, the S&P BSE Sensex was up 229.14 points, or 0.79%, to 29,061.59

On BSE, so far 4,334 shares were traded in the counter, compared with average daily volume of 15,489 shares in the past one quarter. The stock hit a high of Rs 86 and a low of Rs 80.65 so far during the day.

The stock hit a 52-week high of Rs 92.45 on 25 January 2017. The stock hit a 52-week low of Rs 47 on 24 June 2016. The stock had underperformed the market over the past 30 days till 3 March 2017, sliding 6.22% compared with 2.15% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 13.3% as against Sensexs 9.92% rise.

The small-cap company has equity capital of Rs 29.89 crore. Face value per share is Re 1.

Prime Focus reported consolidated net profit of Rs 22.68 crore in Q3 December 2016 as compared with net loss of Rs 18.44 crore in Q3 December 2015. Net sales rose 8.86% to Rs 506.12 crore in Q3 December 2016 over Q3 December 2015.

Prime Focus provides end-to-end creative services (visual effects, stereo 3D conversion and animation), technology products & services (Media ERP Suite and Cloud-enabled media services), production services (shooting floors, sound stages and equipment rental) and post production services (Digital Intermediate, digital lab and picture post) to studios, broadcast and advertising industries.

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Central Bank of India gets revision in credit ratings
Mar 06,2017

Central Bank of India announced that ICRA has revised its rating on Banks Bonds.

The revised rating is as under:

a) Lower Tier II Bonds - Credit Rating revised from [ICRA]AA- (Outlook : Negative) to [ICRA]A+ (Outlook : Negative).

b) Upper Tier II Bonds - Credit Rating revised from [ICRA]A+ (Outlook : Negative) to [ICRA]A (Outlook : Negative).

The rating downgrade factors the continuing deterioration in asset quality, poor financial results for past three quarters upto Q3FY17 wherein the Bank had to make large provision towards NPAs, and their effect on capital adequacy ratio.

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