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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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TVS Motor Company standalone net profit declines 6.81% in the March 2017 quarter
Apr 27,2017

Net profit of TVS Motor Company declined 6.81% to Rs 126.77 crore in the quarter ended March 2017 as against Rs 136.03 crore during the previous quarter ended March 2016. Sales rose 1.69% to Rs 2844.50 crore in the quarter ended March 2017 as against Rs 2797.31 crore during the previous quarter ended March 2016.

For the full year,net profit rose 14.06% to Rs 558.08 crore in the year ended March 2017 as against Rs 489.28 crore during the previous year ended March 2016. Sales rose 9.28% to Rs 12135.31 crore in the year ended March 2017 as against Rs 11104.66 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales2844.502797.31 2 12135.3111104.66 9 OPM %5.687.15 -7.067.29 - PBDT211.47224.08 -6 986.49864.99 14 PBT134.02156.99 -15 698.68628.94 11 NP126.77136.03 -7 558.08489.28 14

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Libord Securities reports standalone net loss of Rs 0.01 crore in the March 2017 quarter
Apr 27,2017

Net Loss of Libord Securities reported to Rs 0.01 crore in the quarter ended March 2017 as against net loss of Rs 0.01 crore during the previous quarter ended March 2016. Sales declined 16.67% to Rs 0.10 crore in the quarter ended March 2017 as against Rs 0.12 crore during the previous quarter ended March 2016.

For the full year,net profit rose 25.00% to Rs 0.10 crore in the year ended March 2017 as against Rs 0.08 crore during the previous year ended March 2016. Sales rose 15.79% to Rs 0.44 crore in the year ended March 2017 as against Rs 0.38 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales0.100.12 -17 0.440.38 16 OPM %-20.00-8.33 -34.0931.58 - PBDT-0.02-0.01 -100 0.150.12 25 PBT-0.02-0.01 -100 0.140.11 27 NP-0.01-0.01 0 0.100.08 25

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Hong Kong Stocks rebound
Apr 27,2017

The Hong Kong stock market reversed early losses to chalk up to highest level in 20 months on Thursday, 27 April 2017, as investor sentiment remained supported by the US announcement it would renegotiate the NAFTA deal, soothing fears after reports said Donald Trump was considering leaving it. The market also drew support from continuous flows of money from mainland Chinese investors. The Hang Seng Index inclined 120.05 points, or 0.49%, to 24698.48. The Hang Seng China Enterprises Index was down 56.38 points, or 0.55%, to 10261.25. Turnover decreased slightly to HK$76.3 billion from HK$78.6 billion on Wednesday.

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Japan Stocks fall on profit booking
Apr 27,2017

The Japan share market finished down on Thursday, 27 April 2017, as investors locked in profits following the markets four days run of closing highs. Selloff was also fuelled in response to yen appreciation against greenback after BoJ stands pat on policy and as the Trump administrations plans to overhaul the US tax system. The 225-issue Nikkei Stock Average declined 37.56 points, or 0.19%, to close the day at 19,251.87. The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, fell 0.74 point, or 0.05%, to finish at 1,536.67. Rising stocks outnumbered declining ones on the Tokyo Stock Exchange by 1943 to 1099 and 308 ended unchanged. The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was down 3.40% to 15.04 a new 1-month low.

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China Stocks end higher
Apr 27,2017

The Mainland China equity market reversed early losses to end higher on Thursday, 27 April 2017, lifted by strong performance of shares related to the Belt and Road Initiative. But gains were capped amid concern Chinese authorities would continue to pursue policies aimed at reining in financial risks by preventing excessive speculation in the equity and real estate markets. The benchmark Shanghai Composite Index ended up 0.36%, or 11.34 points, at 3,152.19 and the Shenzhen Composite Index, which tracks stocks on Chinas second exchange, rose 0.36%, or 10.24 points, to 1,900.03. The ChiNext Index, Chinas NASDAQ-style board, ended 1.23% higher at 1,842.92 points.

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Australia Shares end higher
Apr 27,2017

Australian equity market ended slight higher on Thursday, 27 April 2017, as gains in industrial, healthcare, financial and property trusts issues were more than offset by losses in energy, materials, and consumer goods stocks. The S&P/ASX200 closed 9.50 points, or 0.16%, up at 5921.50, while the All Ordinaries tracked closely behind, up 7.60 points, or 0.13%, to 5944.40. Falling stocks outnumbered advancing ones on the Australia Stock Exchange by 566 to 558 and 371 ended unchanged. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was down 6.41% to 11.682.

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India Glycols provides update on JV - Kashipur Infrastructure and Freight Terminal
Apr 27,2017

India Glycols that post receipt of all approvals by JV entity namely, Kashipur Infrastructure and Freight Terminal, the EXIM rake handling at ICD, Kashipur has been commenced by the JV entity with effect from 26 April 2017. Accordingly, freight terminal of KIFTPL is fully operational.

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Indo Euro Indchem announces resignation of director
Apr 27,2017

Indo Euro Indchem announced that Jaysukh Shah, Director of the Company has given his resignation from directorship of the Company with effect from 22 April 2017.

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Pennar Industries announces resignation of director
Apr 27,2017

Pennar Industries announced that Jupally Ramu Rao, Director of the Company has resigned from the Board of Directors of the Company with effect from 26 April 2017.

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Shreevatsaa Finance & Leasing announces resignation of director
Apr 27,2017

Shreevatsaa Finance & Leasing announced that due to health issues, Manohar Lal, (Independent Director) of the Company, has tendered his resignation from the Board of the Company with effect from Thursday, 27 April 2017.

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Moodys: Low interest rates pose risks to global insurance industrys profitability despite recent rise
Apr 27,2017

Low global interest rates will continue to pressure insurers profitability and potentially solvency, especially in Taiwan, as well as in Germany and Norway, says Moodys Investors Service in a report. This is despite a rise in rates since the third quarter of 2016 and a less likely global low for long scenario.

We expect the investment income of the global life insurance industry to decline by USD20-40 billion in 2017, says Benjamin Serra, Vice President and Senior Credit Officer at Moodys. The impact on life insurers profits will be more limited though, as this decline will be largely shared with policyholders.

Global non-life insurers investment income will also likely decline in 2017, with Moodys estimating a drop of around USD5-15 billion. In contrast to life insurers, non-life insurers cannot share this decline with policyholders. The drop in investment income will directly reduce the global non-life industrys net result by 5%-10%.

A global prolonged low rates scenario is now less likely but it nevertheless remains a key risk for life insurers. Moodys believes that Taiwan is one of the most exposed markets, as is Germany and Norway.

The rating agency now also considers China to be at higher risk, moving it from the low risk category to the moderate risk category. This reflects a strong growth of products with higher guarantees in the last two years, notably following the pricing liberalization of participating products in October 2015.

Chinese insurers are also generally running a large duration gap of around seven to ten years, and therefore Chinese insurers have become more vulnerable to interest rate risk. Nonetheless, Moodys considers that Chinese insurers still have a high ability to reduce credited rates.

A sudden increase in interest rates, though not Moodys central scenario, could also hurt life insurers by triggering a sudden increase in surrenders and forcing insurers to realise investment losses. This is the case in some Asian countries.

Despite increasing sales of protection products in recent years, savings products constitute a large part of insurers balance sheets in countries such as China, Taiwan and South Korea, and some of these products offer little protection features, explains Mr. Serra. Should there be a sharp increase in rates, we view the surrender risk as relatively high in China, notably because of the rapid growth in savings products, which include only limited surrender penalties for policies older than three to five years.

In South Korea, surrender penalties and relatively high guaranteed rates reduce the surrender risk, although there are no surrender penalties after seven years.

In Japan, on the other hand, as in the US, high product diversification would mitigate the increase in surrenders, says Moodys. Many insurers in Japan, for example, include higher surrender penalties for products that include limited protection features or that are sold through non-proprietary banking channels.

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Swaraj Engines drops on profit booking
Apr 27,2017

Meanwhile, the S&P BSE Sensex was down 104.67 points or 0.35% at 30,028.68. The S&P BSE Small-Cap index was down 6.50 points or 0.04% at 15,276.16.

On the BSE, 3,859 shares were traded on the counter so far as against the average daily volumes of 1,544 shares in the past one quarter. The stock had hit a high of Rs 1,880 and a low of Rs 1,807 so far during the day.

The stock had hit a record high of Rs 1,984.20 on 26 April 2017 and a 52-week low of Rs 1,079.75 on 16 May 2016. It had outperformed the market over the past one month till 26 April 2017, advancing 32.9% compared with the Sensexs 2.42% rise. The scrip had also outperformed the market over the past one quarter, gaining 31.67% as against the Sensexs 8.75% rise.

The small-cap company has equity capital of Rs 12.42 crore. Face value per share is Rs 10.

Shares of Swaraj Engines had rallied 26.62% in the preceding seven trading sessions to settle at Rs 1,863.65 yesterday, 26 April 2017, from its closing of Rs 1,471.80 on 17 April 2017. The stock settled higher by 12.71% in a single trading session yesterday, 26 April 2017, after the company reported strong Q4 March 2017 numbers after market hours on 25 April 2017.

Swaraj Engines net profit rose 29.8% to Rs 15.28 crore on 41% growth in net sales to Rs 160.77 crore in Q4 March 2017 over Q4 March 2016.

Swaraj Engines is in the business of supplying engines to the Swaraj division of Mahindra & Mahindra. The company also manufactures hi-tech engine components for SML Isuzu.

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Outcome of board meeting of Adlabs Entertainment
Apr 27,2017

Adlabs Entertainment announced that the Board of Directors of the Company at its meeting held on 27 April 2017 approved:

1) Issue of convertible warrants up to maximum amount of Rs. 12,00,00,000/- (Rupees Twelve Crore Only) to Bennett Coleman & Co. on preferential basis; and

2) Issue of upto 12,63,158 equity shares to Bennett Coleman & Co. on preferential basis.

The Board has also approved obtaining enabling approvals of shareholders for the below matters: 1) Issue of Non-Convertible Debentures and/or other debt securities, etc., in one or more tranches, within the overall borrowing limits of the Company, as may be approved by the Members from time to time on private placement basis; and 2) Issue of securities to Qualified Institutional Buyers upto Rs. 200 crore.

It is further informed that shareholders approval for all the above matters shall be obtained through postal ballot process.

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Asian Granito India launches new engineered marble and quartz
Apr 27,2017

Asian Granito India has expanded its product portfolio by introducing new Engineered Marble and Quartz. The company launched new products in the Marble and Quartz segment at a Dealers Meet in Udaipur on 25 April 2017.

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Minda Industries crawls up after forming joint venture
Apr 27,2017

The announcement was made during market hours today, 27 April 2017.

Meanwhile, the S&P BSE Sensex was down 20 points or 0.07% at 30,099.06. The S&P BSE Mid-Cap index was up 34.42 points or 0.23% at 14,797.15.

On the BSE, 8,319 shares were traded on the counter so far as against the average daily volumes of 18,777 shares in the past one quarter. The stock had hit a high of Rs 488 and a low of Rs 470.05 so far during the day.

The stock had hit a record high of Rs 488.60 on 24 April 2017 and a 52-week low of Rs 194 on 27 April 2016.

The stock had outperformed the market over the past one month till 26 April 2017, rising 9.09% compared with the Sensexs 2.42% rise. The scrip had also outperformed the market over the past one quarter, gaining 37.13% as against the Sensexs 8.75% rise.

The mid-cap company has equity capital of Rs 17.28 crore. Face value per share is Rs 2.

Minda Industries announced that it has signed the joint venture agreement with Tung Thih Electronic Co. Ltd., (TTE), Taiwan to develop, manufacture, market and sale of driving assistance products & systems (DAPS) and safety systems including reverse parking assistance system (RPAS), camera, automatic parking systems, tyre pressure monitoring systems (TPMS).

The proposed location of the manufacturing plant will be in NCR region.

The company will hold 50% shareholding in the joint venture while TTE, Tawan will hold the rest 50%. The initial outlay for the JV company in the first phase is Rs 35 crore and additional investment of Rs 35 crore has been proposed in the phase 2. The JV partners will invest in the ratio of 50:50. In the JV company two directors will be nominated by each partner.

Managing director of the proposed JV company will be nominated by Minda Industries and Chief financial officer will be nominated by TTE, company said.

Minda Industries consolidated net profit rose 55.1% to Rs 44.74 crore on 40.6% growth in net sales to Rs 875.82 crore in Q3 December 2016 over Q3 December 2015.

Minda Industries is part of UNO Minda. UNO Minda is a technology leader in auto components industry and a leading tier 1 supplier of proprietary automotive solutions to original equipment manufacturers (OEMs).

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