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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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Sanghi Industries gets credit ratings
Feb 15,2017

Sanghi Industries has received upgradation in credit ratings from ICRA as under -

Long term fund based - cash credit (Rs 185 crore) - ICRA A- (Revised from ICRA BBB)

Short term non fund based limits (Rs 15 crore) - ICRA A2+ (Revised from A3+)

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Nucleus Software Exports releases latest version of FinnOne Neo collection
Feb 15,2017

Nucleus Software Exports announced the launch of latest version of its award wining lending solution FinnOne Neo Collection.

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ICICI Bank allots 18,435 equity shares
Feb 15,2017

ICICI Bank has allotted 18,435 equity shares of face value of Rs. 2/- each on 13 February 2017 under the Employees Stock Option Scheme, 2000 (ESOS).

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Intellect Design Arena tumbles after Jhunjhunwala sells stake
Feb 15,2017

Meanwhile, the BSE Sensex was down 162.86 points, or 0.57%, to 28,176.45.

On the BSE, so far 9.36 lakh shares were traded in the counter, compared with average daily volumes of 1.92 lakh shares in the past one quarter. The stock hit a high of Rs 115 so far during the day. The stock hit a low of Rs 107.75 so far during the day, which is also a 52-weel low for the counter. The stock hit a 52-week high of Rs 252.10 on 3 May 2016.

The small-cap company has equity capital of Rs 50.56 crore. Face value per share is Rs 5.

Rakesh Radheyshyam Jhunjhunwala and his wife Rekha Rakesh Jhunjhunwala sold 10 lakh and 32.30 lakh shares at Rs 120.35 per share and Rs 120.44 per share, respectively, in Intellect Design Arena through bulk deals on NSE yesterday, 14 February 2017.

As on 31 December 2016, Rakesh Radheshyam Jhunjhunwala held 12.50 lakh shares and Rekha Rakesh Jhunjhunwala held 37.50 lakh shares of Intellect Design Arena.

On a consolidated basis, Intellect Design Arena reported net loss of Rs 13.84 crore in Q2 September 2016 as against net loss of Rs 7.95 crore in Q2 September 2015. Net sales rose 11.40% to Rs 230.96 crore in Q2 September 2016 over Q2 September 2015.

Intellect Design Arena is a digital technology product solutions provider to the banking and insurance industry, across global consumer banking, central banking, global transaction banking, risk, treasury & markets and insurance.

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FY18 - Another Year In Search of Economic Growth; GDP to Grow 7.4% yoy-Ind-Ra
Feb 15,2017

India Ratings and Research (Ind-Ra) expects the gross domestic product (GDP) to grow 7.4% yoy in FY18. Backed by consumption demand and government spending, the gross value added of the three production sectors namely agriculture, industry and services would grow at 3%, 6.1% and 9.1% yoy, respectively, in FY18. While private final consumption expenditure is expected to grow at 8.9%, the government final consumption expenditure is expected to clock 9% growth in FY18.

Ind-Ra, however, has revised down its GDP growth estimate for FY17 to 6.8% from 7.9%, which is even lower than Central Statistical Organisations advanced estimate of 7.1%.

Although GDP growth after bottoming out in FY13 has recovered, sustaining it in the medium to long term has emerged as a key challenge for the India economy. Two factors that contributed significantly to the GDP growth during the last decade were - (i) total factor productivity (TFP) growth and (ii) investments as measured by gross capital formation (GCF). However, both are languishing presently. In fact, the period of 2005-2010 saw a synchronised movement in investment and TFP growth. Indias TFP, which grew at 3.8% during 2006-2010 dropped to 0.3% during 2011-2014. As a result, the contribution of TFP to Indias GDP growth declined from a staggering 46.2% during 2006-2010 to a meagre 4.6% during 2011-2014.

A suboptimal capacity utilisation in the manufacturing sector and stalled infrastructure projects during 2011-2014 caused inefficient/low intensity utilisation of capital invested pulling down the TFP growth.Similarly, GCF which grew at an average rate of 17.7% during FY06-FY10 dropped to 4.2% during FY12-FY16. As against the popular perception, the main setback to investment growth came from the negative 2.2% growth in the gross fixed capital formation (GFCF) of household sector. During FY12-FY16, 82.6% of the household investment was in dwellings, other buildings & structures. Further, dwelling, other building and structures accounted for about 55.8% of the total investment in the economy. This suggests that a more nuanced approach to policy making is required to revive the investment cycle which is currently focused on government capex. Ind-Ra expects GFCF to grow at 4.9% in FY18.

Although firming up of global commodity prices especially crude will exert some pressure on inflation, Ind-Ra expects Wholesale and Consumer Price Index based inflation to come in at 4.5% and 4.2%, respectively, in FY18. A normal monsoon in 2017 would keep the food inflation soft, yet aberration in the prices of select agricultural commodities due to unforeseen supply shocks cannot be ruled out. Ind-Ra therefore expects one rate cut of 25bp by the Reserve Bank of India in FY18 and 10-year benchmark G-sec yield to trade in the range of 6.4%-6.5% by March 2018.

The agency expects the current account deficit to come in at 1% of the GDP in FY18 as against 0.9% in FY17. This will help the rupee trade at an average 69.18/USD in FY18. While India is likely to face continued headwinds on the exports front due to the play out of Brexit and the anti-globalisation stance of US President Donald Trump, imports are unlikely to pick up so long as the domestic investment cycle does not revive. The Union Government budget FY18 has pegged the fiscal deficit to GDP ratio at 3.2%. Although achieving this target looks plausible, much would depend on the governments disinvestment receipt which has been pegged at INR725 billion for FY18.

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Dynamatic Technologies and Israel Aerospace Industries sign cooperation agreement
Feb 15,2017

Dynamatic Technologies and Israel Aerospace Industries announced their cooperation to jointly address the needs of the Indian UAV market. Both companies have signed a cooperation agreement regarding production, assembly and support of mini UAVs in India, at the Aero India exhibition in Bangalore.

The agreement encompasses the transfer of technology and production capabilities from IAI to DTL to enable the indigenous capability for mini UAV systems for the benefit of Indian end users and in support of the Governments Make in India initiative.

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TCI Industries allots Non-Convertible Redeemable Preference Shares
Feb 15,2017

TCI Industries announced that pursuant to the Members approval accorded in their Annual General Meeting held on 02 August 2016, the Share Allotment Committee of the Board of Directors of the Company at its meeting held on 15 February 2017 has issued and allotted 33,314, 0% Non-Convertible Redeemable Preference Shares (NCRPS) of Face Value of Rs. 100/- (Rupees Hundred only) each at a premium of Rs. 300/- (Rupees Three Hundred only) each to the entities belonging to the Promoter & Promoter Group of the Company.

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CESC to pay interim dividend
Feb 15,2017

CESC announced that interim dividend for FY 2017 will be paid on and from 06 March 2017.

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KZ Leasing & Finance intimates of new website
Feb 15,2017

KZ Leasing & Finance has started maintaining its new functional Website namely www.kzgroup.in, which contains basic information about the listed entity.

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Transformers & Rectifiers India to hold EGM
Feb 15,2017

Transformers & Rectifiers India announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 10 March 2017 .

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MIRC Electronics to hold EGM
Feb 15,2017

MIRC Electronics announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 29 March 2017 .

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DLF slips after weak Q3 results
Feb 15,2017

The result was announced after market hours yesterday, 14 February 2017.

Meanwhile, the BSE Sensex was down 59.43 points, or 0.21%, to 28,279.88.

On the BSE, so far 7.36 lakh shares were traded in the counter, compared with average daily volumes of 11.58 lakh shares in the past one quarter. The stock had hit a high of Rs 143.75 and a low of Rs 139.40 so far during the day.

The stock hit a 52-week high of Rs 169.60 on 19 August 2016. The stock hit a 52-week low of Rs 83 on 25 February 2016.

The large-cap realty major has equity capital of Rs 356.80 crore. Face value per share is Rs 2.

DLFs consolidated earnings before interest, tax, depreciation and amortization (EBITDA) fell 30% to Rs 1078 crore in Q3 December 2016 over Q3 December 2015.

The performance in the last quarter was subdued as markets adjusted itself to new paradigm initiated by demonetization move. While demonetization is extremely positive for the company and the industry, it has had short term negative impact on secondary sales, which in turn has impacted primary off-take. The company expects this period of adjustment may continue for next few quarters till the time secondary market stabilizes and customers start to purchase new products, DLF said in a statement.

In the interim, the company said it continues to remain focused on execution and creation of finished inventory. With record deliveries of 11 million square feet (msf) in the first nine months of the fiscal, the residential projects under construction have come down to 19 msf.

Office leasing business continues to witness healthy traction, backed by expansion in services sector. The leasing rates exhibited growth in line with companys projections. Witnessing the demand in office leasing, company is aggressively building out two new office complexes - Gurgaon and Chennai. Retail Sales at the malls, where the company enjoys revenue share, did witness some temporary fall back. Almost all of the retailers, with the exception of few, are now experiencing normal sales momentum, DLF said.

The Union Budget 2017 focused on residential business by providing slew of measures - incentivizing affordable housing, lower interest rate for housing loan, higher disposable income in the hands of the customer, it said.

In a separate announcement, DLF said it has decided to extend the deadline for sale of 40% stake owned by its promoters in its rental arm DLF Cyber City Developers (DCCDL) to March 2018.

DLFs primary business is development of residential, commercial and retail properties. It has 269 msf of development potential with 27 msf of projects under construction.

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Deepak Nitrite drops after reporting weak Q3 earnings
Feb 15,2017

The result was announced after market hours yesterday, 14 February 2017.

Meanwhile, the S&P BSE Sensex was down 39.64 points, or 0.14%, to 28,299.67.

On the BSE, 28,000 shares were traded on the counter so far as against the average daily volumes of 59,256 shares in the past one quarter. The stock had hit a high of Rs 102.90 and a low of Rs 97 so far during the day.

The stock had hit a record high of Rs 134.25 on 9 September 2016 and a 52-week low of Rs 57 on 15 February 2016. The stock had outperformed the market over the past one month till 14 February 2017, advancing 4.28% compared with the Sensexs 4.04% rise. The scrip had, however, underperformed the market over the past one quarter advancing 3.75% as against the Sensexs 5.67% rise.

The small-cap company has equity capital of Rs 23.26 crore. Face value per share is Rs 2.

Deepak Nitrite is a multi-division and multi-product company. The companys portfolio is a wide spectrum of products with diverse applications ranging from agrochemicals, rubber, pharmaceuticals, paper, textile, detergent, colourants, and petrochemicals to speciality and fine chemicals.

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MOIL trims gains after declaring strong Q3 outcome
Feb 15,2017

The announcement was made after market hours yesterday, 14 February 2017.

Meanwhile, the S&P BSE Sensex was down 45.95 points or 0.16% at 28,293.36

On the BSE, 1.19 lakh shares were traded on the counter so far as against the average daily volumes of 91,399 shares in the past one quarter. The stock trimmed initial gains in volatile trade. The stock had hit a high of Rs 373.45 and a low of Rs 362.35 so far during the day. The stock had hit a 52-week high of Rs 429 on 12 January 2017 and a 52-week low of Rs 180.30 on 17 February 2016.

The mid-cap company has equity capital of Rs 133.19 crore. Face value per share is Rs 10.

MOIL produces and sells different grades of manganese ore. Government of India currently holds 75.58% stake in MOIL (as per the shareholding pattern as on 31 December 2016).

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Agreement between India and Croatia on Economic Cooperation
Feb 15,2017

Agreement between the Government of the Republic of India and the Government of the Republic of Croatia on Economic Cooperation was signed by Commerce and Industry Minister Smt. Nirmala Sitharaman, Government of India and Ms. Martina Dalic, Deputy Prime Minister and Minister of the Economy, Government of the Republic of Croatia on 14th February, 2017 in Zagreb, Croatia.

India and Croatia had earlier signed an Agreement on Trade and Economic Cooperation in September, 1994 with an aim to promote and develop bilateral trade and economic relations. The present Agreement between India and Croatia would be a step in continuity as the last one expired in November, 2009.

Indias bilateral trade with the Republic of Croatia during 2013-14, 2014-15 and 2015-16 were US$ 148.86 million, US$ 205.04 million and US$ 148.44 million respectively. The bilateral trade during the last three years has remained stable despite global slowdown.

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