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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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Mastek surges 20.39% in five sessions
Aug 17,2017

Meanwhile, the S&P BSE Sensex was up 12.82 points, or 0.04% at 31,783.71. The S&P BSE Small-Cap index was up 103.61 points, or 0.66% at 15,715.29.

On the BSE, 1.01 lakh shares were traded on the counter so far as against the average daily volumes of 1.75 lakh shares in the past two weeks. The stock had hit a high of Rs 296.70 and a low of Rs 278.05 so far during the day.

Shares of Mastek rose 20.39% in five trading sessions to its current market price of Rs 293.70, from a close of Rs 243.95 on 9 August 2017.

Masteks consolidated net profit rose 39.88% to Rs 14.66 crore on 2.51% increase in total revenue to Rs 188 crore in Q1 June 2017 over Q4 March 2017.

Mastek is a publicly held leading IT player with global operations providing enterprise solutions to government, retail and financial services organizations worldwide.

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Majesco moves up after customer expands strategic partnership
Aug 17,2017

The announcement was made after market hours yesterday, 16 August 2017.

Meanwhile, the S&P BSE Sensex was down 13.73 points or 0.04% at 31,757.16. The S&P BSE Small-Cap index was up 96.86 points or 0.62% at 15,708.54.

On the BSE, 4,225 shares were traded on the counter so far as against the average daily volumes of 29,975 shares in the past one quarter. The stock had hit a high of Rs 366.55 and a low of Rs 360 so far during the day. The stock had hit a 52-week high of Rs 543.50 on 24 August 2016 and a 52-week low of Rs 300 on 10 July 2017.

The stock has gained 7.23% in four sessions to its ruling price, from a close of Rs 364.60 on 10 August 2017.

The stock had outperformed the market over the past one month till 16 August 2017, gaining 1.26% compared with the Sensexs 0.78% decline. The stock had, however, underperformed the market over the past one quarter, declining 1.08% as against the Sensexs 3.89% rise. The scrip had also underperformed the market over the past one year, dropping 26.12% as against the Sensexs 13.21% rise.

The small-cap company has equity capital of Rs 11.77 crore. Face value per share is Rs 5.

Majesco, USA, the insurance arm and a subsidiary of Majesco announced that the tier one customer expanded its strategic partnership with Majesco to provide additional services including development, testing and business analysis for their multi-year modernization program.

The agreement significantly expands the role of Majesco for tier one insurers modernization program.

On a consolidated basis, Majesco reported net loss of Rs 5.02 crore in Q1 June 2017 compared with net loss of Rs 0.71 crore in Q4 March 2017. Net sales fell 4.14% to Rs 182.97 crore in Q1 June 2017 over Q4 March 2017.

Majesco enables insurance business transformation for insurance customers worldwide by providing solutions which include software, consulting and services.

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Axis Bank keeps MCLRs unchanged
Aug 17,2017

Axis Bank has reviewed and retained the MCLRs across tenures. The MCLRs effective from 18 August 2017 are -

Overnight - 7.80%
One month - 7.80%
Three month - 8.00%
Six month - 8.15%
One year - 8.25%
Two year - 8.30%
Three year - 8.35%

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Chadha Papers CFO resigns
Aug 17,2017

Chadha Papers announced that Atul Gupta, CFO of the Company has resigned with effect from 14 August 2017.

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Suven Life Sciences secures three process patents
Aug 17,2017

Suven Life Sciences announced the grant of one (1) process patent from Europe (3077375), one (1) process patent from Japan (6151453) and one (1) process patent from New Zealand (719671) corresponding to the New Chemical Entities (NCEs) which are for the treatment of disordersassociated with Neurodegenerative diseases and these Patents are valid through 2034.

These process patents are for the Companys pipeline compounds which are in the class of selective 5-HT6 compounds and are being developed as therapeutic agents and are useful in the treatment of cognitive impairment associated with neurodegenerative disorders likeAlzheimers disease, Attention deficient hyperactivity disorder (ADHD), Huntingtons disease, Parkinson and Schizophrenia.

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Suven Life Sciences secures three product patents
Aug 17,2017

Suven Life Sciences announced the grant of one (1) process patent from Europe (3077375), one (1) process patent from Japan (6151453) and one (1) process patent from New Zealand (719671) corresponding to the New Chemical Entities (NCEs) which are for the treatment of disordersassociated with Neurodegenerative diseases and these Patents are valid through 2034.

These process patents are for the Companys pipeline compounds which are in the class of selective 5-HT6 compounds and are being developed as therapeutic agents and are useful in the treatment of cognitive impairment associated with neurodegenerative disorders likeAlzheimers disease, Attention deficient hyperactivity disorder (ADHD), Huntingtons disease, Parkinson and Schizophrenia.

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Shreyas Shipping extends post-result rally
Aug 17,2017

Meanwhile, the S&P BSE Sensex was up 95.45 points or 0.3% at 31,866.34. The S&P BSE Small-Cap index rose 156.09 points or 1% at 15,767.77.

On the BSE, 1.10 lakh shares were traded on the counter so far as against the average daily volumes of 8,633 shares in the past two weeks. The stock had hit a high of Rs 409.55 so far during the day, which is a 52-week high. The stock hit a low of Rs 371.55 so far during the day. The stock had hit a 52-week low of Rs 193.10 on 26 December 2016.

Shares of Shreyas Shipping & Logistics have rallied 32.39% in two trading sessions from its closing of Rs 303.60 on 14 August 2017, after the company announced strong Q1 results after market hours on 14 August 2017. The stock had surged by the maximum permissible level of 20% to settle at Rs 364.30 yesterday, 16 August 2017. The stock market was closed on 15 August 2017 for a holiday.

Shreyas Shipping & Logistics net profit surged 293.6% to Rs 19.17 crore on 38.5% rise in net sales to Rs 117.86 crore in Q1 June 2017 over Q1 June 2016.

The company said that the growth momentum was largely driven by higher volumes and increase in freight rates. The vessel utilisation levels have increased despite increased tonnage. The bunker prices remained moderate during the quarter, allowing the company to maintain its operational costs.

Globally, the environment has improved over the second half of the previous year. The charter hire rates and the scrap rates have seen a positive uptrend since the beginning of the year, company added.

Shreyas Shipping & Logistics, the Indian flagged vessel owning unit of Transworld Group, is a pioneer and market leader in domestic coastal container shipping covering all main ports and container terminals on the Indian coast.

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Government fixes ceiling prices of Knee Implants; People of India to save Rs.1500 crore per annum
Aug 17,2017

The Government has fixed the ceiling prices of orthopaedic implants used in knee surgeries, informed Union Minister for Chemicals & Fertilizers and Parliamentary Affairs, Shri Ananthkumar..Based on the numbers of about 1 to 1.5 lakh orthopaedic knee procedures done in India every year,there will be a saving of about Rs.1500 crore for the people of India per annum. It is a step to prevent Unethical Profiteering and ensure Affordable and Quality Healthcare for the Last Man, the Minister added.

Shri Kumar said that as per the data analysis of National Pharmaceutical Pricing Authority (NPPA), under Ministry of Chemicals & Fertilizers, there was huge margin in trade which was found to be unreasonable and in a way unethical profiteering. The NPPA, while fixing the ceiling prices, has kept all the new technology implants in mind and prices have been fixed accordingly, which are as follows:

Type of Knee ImplantAverage
MRP
Earlier
(Rupees)
Average
Price
Reduction
New Ceiling
Price and MRP*
(Rupees)
Cobalt Chromium (most widely used)1,58,32465%54,720 Special Metal like Titanium & Oxidized Zirconium2,49,25169%76,600 High Flexibility Implant1,81,72869%56,490 Revision Implants2,76,86959%1,13,950 Specialised Implants for Cancer &TumourCompany specific prices; to be fixed by NPPA at Rs. 1,13,950

*Companies will print the MRP by adding GST on these ceiling prices

Shri Kumar informed that it is estimated by World Health Organization (WHO) that by 2020, osteoarthritis is going to be the fourth largest cause of immobility in the world. India has about 1.2 to 1.5 crore orthopaedic patients who require orthopaedic implant surgery. Most of the diagnosed people requiring knee surgery are not able to afford because of very high cost. Government is reforming this state of affairs putting a ceiling on knee implants from today, the Minister added.

Shri Kumar said that the Government expects full cooperation from all the stakeholders including importers, distributors, retailers, hospitals etc. in ensuring that the benefit of reduction of prices of knee implants reaches the last man. The Minister added that all complaints of overcharging would be strictly monitored and the overcharged amount would be recovered from erring parties with an interest of 18% over it. A step further, Shri Kumar added that the Government might also consider cancelling of licenses and initiate criminal proceedings against stakeholders engaged in unethical profiteering.

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United Bank of India climbs higher after cutting deposit rates
Aug 17,2017

The announcement was made after market hours yesterday, 16 August 2017.

Meanwhile, the S&P BSE Sensex was up 105.82 points or 0.31% at 31,870.74. The S&P BSE Small-Cap index was up 152.28 points or 0.98% at 15,763.96.

On the BSE, 3,990 shares were traded in the counter so far as against average daily volume of 98,726 shares in the past one quarter. The stock had hit a high of Rs 18.90 and a low of Rs 18.60 so far during the day. The stock had hit a 52-week high of Rs 29.25 on 7 February 2017. The stock had hit a 52-week low of Rs 18.10 on 11 August 2017.

The stock had underperformed the market over the past one month till 16 August 2017, falling 5.37% compared with the Sensexs 0.78% decline. The stock had also underperformed the market over the past one quarter, declining 17.59% as against the Sensexs 3.89% rise. The scrip had also underperformed the market over the past one year, dropping 14.35% as against the Sensexs 13.21% rise.

The small-cap state-run bank has equity capital of Rs 1561.82 crore. Face value per share is Rs 10.

United Bank of India said that it has reduced domestic term deposit rates for deposit upto Rs 1 crore from 6.25% to 6.1% per annum.

Deposit rate for more than Rs 1 crore has been reduced from 4.5% to 4.35% and deposit of amount upto Rs 50 lakh has been revised downwards from 4% to 3.5% effective 18 August 2017.

United Bank of India reported net loss of Rs 211.46 crore in Q1 June 2017 compared with net profit of Rs 38.32 crore in Q1 June 2016. The banks total income rose 1.2% to Rs 2852.61 crore in Q1 June 2017 over Q1 June 2016.

The Government of India held 85.23% stake in United Bank of India as per the shareholding pattern as on 30 June 2017.

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Zydus receives final approval for Telmisartan and Hydrochlorothiazide Tablets
Aug 17,2017

Zydus Cadila has received the final approval from the USFDA to market Telmisartan and Hydrochlorothiazide Tablets USP, in the strengths of 40 mg/12.5 mg, 80mg/12.5 mg and 80mg/25 mg. Telmisartan and Hydrochlorothiazide Tablets are used to treat hypertension (high blood pressure). The drug will be manufactured at the groups formulations manufacturing facility at Moraiya, Ahmedabad.

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Omkar Speciality extends Wednesdays rally
Aug 17,2017

Meanwhile, the S&P BSE Sensex was up 76.46 points, or 0.24% at 31,847.35. The S&P BSE Small-Cap index was up 136.71 points, or 0.88% at 15,748.39.

On the BSE, 21,000 shares were traded on the counter so far as against the average daily volumes of 88,359 shares in the past one quarter. The stock had hit a high of Rs 91.85 and a low of Rs 88.35 so far during the day. The stock had hit a 52-week high of Rs 120.05 on 14 July 2017 and a 52-week low of Rs 63.13 on 9 November 2016.

The stock had underperformed the market over the past one month till 16 Aug 2017, declining 24.21% compared with the Sensexs 0.78% fall. The scrip had also underperformed the market over the past one quarter declining 6.83% as against the Sensexs 3.89% rise. The scrip had, however, outperformed the market over the past one year advancing 17.72% as against the Sensexs 13.21% rise.

The small-cap company has equity capital of Rs 20.58 crore. Face value per share is Rs 10.

Shares of Omkar Speciality Chemicals have rallied 20.93% in the three trading sessions from its close of Rs 75.95 on 11 August 2017, after the company after market hours on Monday, 14 August 2017 reported good Q1 June 2017 results. The stock had surged 9.19% to settle at Rs 87.95 yesterday, 16 August 2017.

Omkar Speciality Chemicalss net profit rose 37.6% to Rs 7.65 crore on 6.7% increase in net sales to Rs 85.95 crore in Q1 June 2017 over Q1 June 2016.

Omkar Speciality Chemicals is primarily engaged in the manufacture and sale of specialty chemicals and intermediates for chemical and allied industries.

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Rubfila International to pay dividend
Aug 17,2017

Rubfila International announced that dividend will be paid on or before 14 October 2017, if approved at the AGM.

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HDFC Bank revises Savings Bank interest rate
Aug 17,2017

HDFC Bank announced a revision in its Savings Bank interest rate effective 19 August 2017.

Post revision, customers maintaining savings bank accountbalance of Rs. 50 lakh and above will continue to earn interest at 4% per annum. Customers maintaining account balance of below Rs. 50 lakh will earn interest at 3.5% per annum. The revised rates will be applicable to both Resident and Non-resident customers.

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Panama Petrochem to hold AGM
Aug 17,2017

Panama Petrochem announced that the Annual General Meeting (AGM) of the company will be held on 18 September 2017.

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AksharChem (India) to hold AGM
Aug 17,2017

AksharChem (India) announced that the Annual General Meeting (AGM) of the company will be held on 14 September 2017.

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