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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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Suprajit Engineering gets revision in credit ratings
Jul 20,2017

Suprajit Engineering announced that ICRA has upgraded the long term rating from ICRA AA- to ICRA AA for bank facilities and short term rating of ICRA A1+ is reaffirmed.

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Godrej Inds advances as subsidiary files for IPO
Jul 20,2017

The announcement was made after market hours yesterday, 19 July 2017.

Meanwhile, the S&P BSE Sensex was up 23.59 points or 0.07% at 31,978.94.

On the BSE, 79,000 shares were traded on the counter so far as against the average daily volumes of 50,943 shares in the past one quarter. The stock had hit a high of Rs 698.80 so far during the day, which is a record high. The stock hit a low of Rs 677.75 so far during the day. The stock had hit a 52-week low of Rs 363.90 on 28 November 2016.

The stock had outperformed the market over the past one month till 19 July 2017, advancing 5.51% compared with the Sensexs 2.06% rise. The stock had also outperformed the market over the past one quarter, gaining 30.06% as against the Sensexs 8.93% rise. The scrip had also outperformed the market over the past one year, surging 60.73% as against the Sensexs 15% rise.

The large-cap company has equity capital of Rs 33.63 crore. Face value per share is Rs 1.

The proposed initial public offer (IPO) of Godrej Agrovet consists of fresh issue of equity shares aggregating up to Rs 300 crore and an offer for sale (OFS) of shares aggregating upto Rs 300 crore and upto 1.23 crore shares by V-Sciences Investments Pte.

On consolidated basis, Godrej Industries reported net profit of Rs 95.23 crore in Q4 March 2017, compared with net loss of Rs 57.03 crore in Q4 March 2016. Net sales rose 6.9% to Rs 1950.84 crore in Q4 March 2017 over Q4 March 2016.

Godrej Industries is a conglomerate with a significant presence in Home and Personal Care, Animal Feeds, Dairy and Agri-products, Poultry, Oil Palm Plantation, Real Estate Development, Oleo-chemicals and Vegetable Oils, both directly and through subsidiaries/associate companies.

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Cabinet approves revalidation of permission to raise EBRs of Rs. 660 crore as Government of India Bonds by IWAI in 2017-18
Jul 20,2017

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the Revalidation of permission to raise Extra Budgetary Resource (EBRs) of Rs. 660 crore as Government of India Bonds by Inland Waterways Authority of India (IWAI) in 2017-18.

The proceeds from the bonds will be utilized by IWAI for development and maintenance of National Waterways (NWs) under National Waterways Act, 2016 (effective from 12.4.2016). Funds received through issue of bonds will be used exclusively for capital expenditure to improve infrastructure funding.

Modalities

The investment to be undertaken for development of NWs on identified projects in 2017-18 is estimated to be approximately Rs. 2412.50 crore. The World Bank has sanctioned a loan of USD 375 million for Jal Marg Vikas Project (JMVP) on 12.04.2017. During 2017-18, out of estimated expenditure of Rs.1715 crore for JMVP, it is expected that the World Bank would remit a loan amount of Rs. 857.50 crore. Accordingly, the total requirement of funds in 2017-18 is Rs. 2412.50 crore. During the year 2016-17, IWAI was allocated a sum of Rs. 296.60 crore for creation of capital assets which has been reduced to Rs.228 crore in BE, 2017-18. Raising bonds is intended to bridge this gap.

The principal and interest in respect of the EBRs worth Rs. 660 crore shall be financed by the Government of India by making suitable budgetary provisions in the Demand of the Ministry of Shipping to meet the bond servicing requirements as and when the need arises. The interest payment will be on semi-annual basis and the principal on maturity.

The whole exercise would be undertaken by IWAI through appointment of lead managers and coordination with SEBI. Funds will be released in 02 tranches keeping the size to get attractive yield from the borrowers. Borrowing in the last quarter of the year 2017-18, especially during the last two months of the year 2017-18 would be avoided.

Background:

Gross budgetary support from the Government of India and external financial support for funding development and maintenance of 106 new National Waterways under National Waterway Act, 2016, is grossly inadequate. There is, therefore, dire need for revalidation of permission to raise EBRs of balance amount of Rs 660 crore (Rs. 1000 cr - Rs. 340 crore raised and utilized during 2016-17).

In his budget speech, 2016-17, the Honble Finance Minister announced as under:

To augment infrastructure funding further, Government will permit mobilization of additional finances to the extent of Rs. 31.300 crore by NHAI, RFC, REG, IREDA, NABARD and IWAI through raising bonds during 2016-17.

In accordance with this announcement, IWAI was allowed to issue infrastructure bonds worth Rs.1000 crore for the first time during 2016-17. As it was their maiden effort, they could succeed to raise Rs.340 crore on 01.03.2017 through e-bidding for development of inland waterways and shipping infrastructure during 2016-17 at coupon rate of 7.9 per cent.

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AksharChem (India) allots 8,89,690 Equity Shares
Jul 20,2017

AksharChem (India) announced that the QIP Committee of the board of directors of the Company has, at its meeting held on 20 July 2017, approved the QIP and allotment of 8,89,690 Equity Shares to eligible qualified institutional buyers at the issue price of Rs. 776.00 per Equity Share, aggregating to approximately Rs. 69,03,99,440/-

Pursuant to the allotment of Equity Shares in the QIP, the paid-up equity share capital of the Company stands increased to Rs. 8,20,25,900/- comprising 82,02,590 equity shares of face value of Rs. 10 each.

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Kotak Mahindra Bank reaches zenith after good Q1 results
Jul 20,2017

The result was announced during market hours today, 20 July 2017.

Meanwhile, the S&P BSE Sensex was up 44.45 points, or 0.14% to 32,002.47.

On the BSE, 3.86 lakh shares were traded in the counter so far, compared with average daily volumes of 4.3 lakh shares in the past one quarter. The stock had hit a high of Rs 1,019.40 so far during the day, which is also a record high for the counter. The stock had hit a low of Rs 1,000 so far during the day. The stock hit a 52-week low of Rs 692.40 on 4 January 2017.

The stock had underperformed the market over the past one month till 19 July 2017, gaining 0.47% compared with Sensexs 2.06% rise. The scrip had, however, outperformed the market in past one quarter, rising 13.72% as against Sensexs 8.93% rise. The scrip had also outperformed the market in past one year, gaining 27.94% as against Sensexs 15% rise.

The large-cap bank has equity capital of Rs 951.78 crore. Face value per share is Rs 5.

The banks gross non-performing assets (NPAs) rose to Rs 3726.62 crore as on 30 June 2017 as against Rs 3578.61 crore as on 31 March 2017 and Rs 3058.81 crore as on 30 June 2016.

The ratio of gross NPAs to gross advances stood at 2.58% as on 30 June 2017 as against 2.59% as on 31 March 2017 and 2.5% as on 30 June 2016.

The ratio of net NPAs to net advances stood at 1.25% as on 30 June 2017 as against 1.26% as on 31 March 2017 and 1.21% as on 30 June 2016.

The banks provisions and contingencies rose 13.49% to Rs 203.74 crore in Q1 June 2017 over Q1 June 2016.

The bank has total exposure of Rs 236 crore to 4 of 12 accounts identified by the Reserve Bank of India (RBI) for insolvency proceedings.

All the four accounts were inherited from ING Vysya Bank after merger with the bank on 1 April 2015. Kotak Mahindra Bank on its own had no exposure to any of the 12 accounts. The bank said that the provision is well in excess of RBI stipulation.

Net Interest Margin (NIM) was at 4.5% in Q1 June 2017 up from 4.4% in Q1 June 2016.

Kotak Mahindra Bank is one of the leading private sector banks in India.

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N R Agarwal Industries provides operations update
Jul 20,2017

N R Agarwal Industries announced that normal operations have begun in Unit II of the Company. However, due to technical reasons, operations at Unit III of the Company shall commence from 01 August 2017.

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Board of Mangalam Organics accepts resignation of director
Jul 20,2017

The Board of Mangalam Organics at its meeting held on 19 July 2017 has accepted the resignation of Rajkumar Saraf as the Director of the Company.

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Atlas Cycles (Haryana) proposes sub-division of equity shares
Jul 20,2017

Atlas Cycles (Haryana) has proposed to undertake sub-division of equity shares. The Board of the Company will consider the proposal on 04 August 2017.

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Jubilant Industries drops after reverse turnaround in Q1
Jul 20,2017

The result was announced after market hours yesterday, 19 July 2017.

Meanwhile, the S&P BSE Sensex up 25.80 points, or 0.08% at 31,981.15. The S&P BSE Small-Cap index was up 58.96 points, or 0.37% at 16,033.53.

On the BSE, 6,149 shares were traded on the counter so far as against the average daily volumes of 10,789 shares in the past one quarter. The stock had hit a high of Rs 275 and a low of Rs 262.85 so far during the day. The stock had hit a record high of Rs 418 on 2 February 2017 and a 52-week low of Rs 155 on 3 August 2016.

The stock had outperformed the market over the past one month till 19 July 2017, advancing 11.39% compared with the Sensexs 2.06% rise. The scrip had, however, underperformed the market over the past one quarter sliding 11.43% as against the Sensexs 8.93% rise. The scrip had, however, outperformed the market over the past one year advancing 72.48% as against the Sensexs 15% rise.

The small-cap company has equity capital of Rs 11.93 crore. Face value per share is Rs 10.

Jubilant Industries consolidated net sales fell 8.6% to Rs 111.17 crore in Q1 June 2017 over Q1 June 2016.

Jubilant Industries is engaged in the business of manufacturing of agri products and performance Polymers.

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Mastek hits 52-week high
Jul 20,2017

Meanwhile, the S&P BSE Sensex was up 20.25 points or 0.06% at 31,975.60. The S&P BSE Small-Cap index rose 53.85 points or 0.34% at 16,028.42.

On the BSE, 5.18 lakh shares were traded on the counter so far as against the average daily volumes of 1.15 lakh shares in the past one quarter. The stock had hit a high of Rs 397.50 so far during the day, which is a 52-week high. The stock hit a low of Rs 366.50 so far during the day. The stock had hit a 52-week low of Rs 108.65 on 30 September 2016.

The stock had outperformed the market over the past one month till 19 July 2017, advancing 29.09% compared with the Sensexs 2.06% rise. The stock had also outperformed the market over the past one quarter, surging 59.64% as against the Sensexs 8.93% rise. The scrip had also outperformed the market over the past one year, spurting 169.67% as against the Sensexs 15% rise.

The small-cap company has equity capital of Rs 11.69 crore. Face value per share is Rs 5.

Shares of Mastek have rallied 27.42% in two trading sessions to its ruling market price, from its close of Rs 299 on 18 July 2017 after the company announced strong Q1 June 2017 results during market hours yesterday, 19 July 2017. The stock had rallied by the maximum permissible level of 20% to settle at Rs 358.80 yesterday, 19 July 2017.

Masteks consolidated net profit rose 39.88% to Rs 14.66 crore on 2.51% growth 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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SKM Egg Products Export (India) to convene board meeting
Jul 20,2017

SKM Egg Products Export (India) will hold a meeting of the Board of Directors of the Company on 9 August 2017.

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CARE Ratings to announce quarterly results
Jul 20,2017

CARE Ratings will hold a meeting of the Board of Directors of the Company on 23 August 2017.

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Gujarat Pipavav Port announces board meeting date
Jul 20,2017

Gujarat Pipavav Port will hold a meeting of the Board of Directors of the Company on 10 August 2017.

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Motilal Oswal Financial Services to convene board meeting
Jul 20,2017

Motilal Oswal Financial Services will hold a meeting of the Board of Directors of the Company on 27 July 2017.

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Surana Solar fixes board meeting date
Jul 20,2017

Surana Solar will hold a meeting of the Board of Directors of the Company on 31 July 2017.

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