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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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Volumes jump at Essel Propack counter
Jan 10,2017

Essel Propack volume of 2.33 lakh shares by 12:25 IST on BSE, a 108.8-times surge over two-week average daily volume of 2,141 shares. The stock fell 0.78% to Rs 246.95.

Cerebra Integrated Technologies notched up volume of 1.03 crore shares, a 18.68-fold surge over two-week average daily volume of 5.55 lakh shares. The stock slumped 8.98% to Rs 26.85.

Max Ventures and Industries saw volume of 16.81 lakh shares, a 11.01-fold surge over two-week average daily volume of 1.53 lakh shares. The stock surged 14.69% to Rs 76.90 after the company said that it will sell 22.5% stake to a subsidiary of New York Life Insurance Company.

The board of the company made a preferential offer, subject to shareholders approval, to issue common stock to a subsidiary of New York Life Insurance Company. The announcement was made after market hours yesterday, 9 January 2017.

Carborundum Universal clocked volume of 4.08 lakh shares, a 8.83-fold surge over two-week average daily volume of 46,000 shares. The stock declined 0.63% to Rs 254.10.

IIFL Holdings saw volume of 6.82 lakh shares, a 6.57-fold rise over two-week average daily volume of 1.04 lakh shares. The stock rose 0.78% to Rs 260.

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Board of Chase Bright Steel to consider December quarter results
Jan 10,2017

Chase Bright Steel announced that a Meeting of the Board of Directors of the Company is scheduled to be held on 10 February 2017, to consider and take on record the Unaudited Financial Result for the quarter ended on 31 December 2016.

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Tata Elxsi strengthens after winning new customer in China
Jan 10,2017

The announcement was made after market hours yesterday, 9 January 2017.

Meanwhile, the S&P BSE Sensex was up 127.57 points or 0.48% at 26,854.12.

On the BSE, 33,464 shares were traded on the counter so far as against the average daily volumes of 85,295 shares in the past one quarter. The stock had hit a high of Rs 1,425.80 and a low of Rs 1,400 so far during the day. The stock had hit a record high of Rs 2,396 on 2 February 2016 and a 52-week low of Rs 1,021.65 on 21 November 2016.

The stock had underperformed the market over the past one month till 9 January 2017, falling 2.87% compared with the Sensexs 0.08% fall. The scrip had, however, outperformed the market in past one quarter, rising 2.87% as against the Sensexs 4.76% fall.

The mid-cap company has equity capital of Rs 31.14 crore. Face value per share is Rs 10.

Tata Elxsi announced the adoption of the V2X test system by CAICT, a scientific research institute directly under the Ministry of Industry and Information Technology of China. This next generation test system is developed by the company in partnership with Spirent, a global leader in test solutions for automotive networking and communications.

It provides a flexible, scalable and comprehensive test environment for testing and performance benchmarking of V2X applications, in various stages of the development cycle, right from early research up to pre-production.

Using a combination of Tata Elxsis Patent pending V2X Emulator software and Spirents advanced solutions for GNSS and radio channel simulation, the integrated V2X test bed offers the ability to bring real-world traffic scenarios into the lab and thereby significantly reduces costs and time associated with extensive field testing. Various driving scenarios can be emulated under a variety of terrain, wireless channel & atmospheric conditions.

Tata Elxsis net profit rose 2.74% to Rs 43.08 crore on 3.04% growth in net sales to Rs 303.29 crore in Q2 September 2016 over Q1 June 2016. The company will announce its Q3 results on 25 January 2017.

Tata Elxsi is a global product engineering services provider that works with leading original equipment manufacturers (OEMs) and semiconductor companies across consumer electronics, broadcast, wired and wireless communications and automotive verticals.

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Bharat Electronics advances as foreign brokerage assigns outperformer rating
Jan 10,2017

Meanwhile, the S&P BSE Sensex was up 134.93 points or 0.5% at 26,861.48

On the BSE, 80,000 shares were traded on the counter so far as against the average daily volumes of 33,620 shares in the past one quarter. The stock had hit a high of Rs 1,526.90 and a low of Rs 1,464.60 so far during the day.

The stock had hit a record high of Rs 1,540 on 9 December 2016 and a 52-week low of Rs 1,009 on 1 March 2016. The stock had underperformed the market over the past 30 days till 9 January 2017, sliding 3.98% compared with Sensexs 0.08% fall. The scrip had, however, outperformed the market in past one quarter, gaining 15.95% as against Sensexs 4.83% decline.

The large-cap company has equity capital of Rs 223.36 crore. Face value per share is Rs 10.

Bharat Electronics net profit rose 68.2% to Rs 346.25 crore on 15.1% growth in net sales to Rs 1755.89 crore in Q2 September 2016 over Q2 September 2015.

Bharat Electronics was established at Bangalore, India, by the Government of India under the Ministry of Defence in 1954 to meet the specialised electronic needs of the Indian defence services. Over the years, it has grown into a multi-product, multi-technology, multi-unit company servicing the needs of customers in diverse fields in India and abroad.

The Government of India held 74.41% stake in Bharat Electronics (as per the shareholding pattern as on 31 December 2016).

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Ind-Ra: US Bill on Visa Rule to Add Pressure to IT Companies Margins
Jan 10,2017

The margins of IT sector companies will come under further pressure, in the event the new US bill titled Protect and Grow American Jobs Act gets passed, says India Ratings and Research (Ind-Ra). The key proposal in the bill is to increase the salary of H1B visa holder to USD100,000 (INR6.6 million) from USD60,000 per annum and the cessation of an exemption of having a masters degree. The cash cushion and low debt levels that IT companies enjoy however will mean the squeeze on margins will be credit neutral.

The salary level that has been proposed is significantly higher than the average employee cost of Indian IT companies of under INR1 million (ranges between INR300000 to INR5 million). Further the removal of the exemption of possessing a masters degree to qualify for a H1B visa if implemented will reduce the talent pool qualifying for such visas and in turn result in either increased employee cost for hiring employees with higher qualification or subcontract work, both of which would increase the cost of operations and pressurise margins. The US starts accepting the visa application under H1B typically from 1 April every year and issues around 65,000 visas to highly skilled professionals. A bulk of these visas are issued to technology companies belonging to various nationalities. Indian IT companies incur visa related costs in the first quarter of the financial year.

Ind-Ra notes, that the employee cost of IT companies has increased over the past eight quarters and has impacted margins negatively. The passage of the bill would impact IT companies operations and might lead to further increase in the onshore efforts and subcontracting expenses. Indian IT companies generate around 55%-60% of the revenue from the USA. The onsite proportion of revenue exceeds the offshore portion and the subcontracting expenses as a percentage of revenue has increased by around 50bp - 100bp over the last eight quarters for the top IT companies.

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Board of Ludlow Jute & Specialities to consider December quarter results
Jan 10,2017

Ludlow Jute & Specialities announced that the meeting of the Board of Directors of the Company is scheduled to be held on 19 January 2017, in which the Board of Directors preceded by the Audit Committee will, inter-alia, consider and take on record the Unaudited Financial Results of the Company for the quarter ended 31 December 2016.

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Ramco Systems to partner with G&D Integrated
Jan 10,2017

Ramco Systems announced that US based G&D Integrated will embark on an enterprise-wide technology revamp with Ramco Systems ERP for Logistics suite.

Ramco Systems will implement its comprehensive Logistics ERP Suite covering Finance & Accounting, Customer Management, Supply Chain Management, and Warehouse Management in G&Ds 20+ facilitiesspread across North America. On go-live, the integrated system will help bring complete visibility to G&Ds business allowing G&D to make timely and informed decisions that can support planned business growth atG&D.

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Voltamp Transformers gains after resuming operations at Savli factory
Jan 10,2017

The announcement was made after market hours yesterday, 9 January 2017.

Meanwhile, the S&P BSE Sensex was up 103.32 points, or 0.39%, to 26,829.87

On the BSE, 494 shares were traded on the counter so far as against the average daily volumes of 6,052 shares in the past one quarter. The stock had hit a high of Rs 926.75 and a low of Rs 914.40 so far during the day.

The stock hit a 52-week high of Rs 1,003 on 30 November 2016. The stock hit a 52-week low of Rs 665.50 on 24 February 2016. The stock had underperformed the market over the past 30 days till 9 January 2017, falling 1.77% compared with Sensexs 0.08% fall. The scrip had, however, outperformed the market in past one quarter, gaining 12.1% as against Sensexs 4.83% decline.

The small-cap company has equity capital of Rs 10.12 crore. Face value per share is Rs 10.

It may be recalled that Voltamp Transformers had on 22 December 2016 announced suspension of operations at Savli factory in Gujarat from 21 December 2016 after a few of contract workmen resorted to violence on 20 December 2016.

Net profit of Voltamp Transformers rose 209.1% to Rs 20.96 crore on 21.1% rise in net sales to Rs 160.84 crore in Q2 September 2016 over Q2 September 2015.

Voltamp Transformers has installed facility to manufacture oil filled power and distribution transformers up to 160 megavolt amperes (MVA), 220 kilovolts (kV) class.

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PSU OMCs gain after drop in crude oil prices
Jan 10,2017

HPCL (up 3.02%), BPCL (up 2.92%) and Indian Oil Corporation (IOCL) (up 1.84%), edged higher.

The S&P BSE Sensex was up 102.65 points, or 0.38% at 26,826.64.

In global commodities markets, Brent crude oil futures edged lower. Brent for March 2017 settlement was up 12 cents at $55.06 a barrel. The contract had slumped $2.16 a barrel or 3.78% to settle at $54.94 a barrel during previous trading session on fears that record Iraqi crude exports and growing US output could undermine Organization of the Petroleum Exporting Countries (OPEC) efforts to reduce supply.

Lower crude oil prices could decrease under-recoveries of public sector oil marketing companies (PSU OMCs) on domestic sale of liquified petroleum gas (LPG) and kerosene at controlled prices. The government has already freed pricing of petrol and diesel.

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Adani Ports advances on plans to issue foreign currency denominated bonds
Jan 10,2017

The announcement was made before market hours today, 10 January 2017.

Meanwhile, the BSE Sensex was up 125.38 points, or 0.47%, to 26,851.93.

On the BSE, 41,989 shares were traded in the counter so far, compared with average daily volume of 3.06 lakh shares in the past one quarter. The stock had hit a high of Rs 290.05 and a low of Rs 285.10 so far during the day. The stock had hit a 52-week high of Rs 317 on 25 October 2016. The stock had hit a 52-week low of Rs 169.65 on 12 February 2016.

The stock had underperformed the market over the past one month till 9 January 2017, falling 0.33% compared with the Sensexs 0.08% fall. The scrip had, however, outperformed the market in past one quarter, rising 6.65% as against the Sensexs 4.76% fall.

The large-cap company has equity capital of Rs 414.19 crore. Face value per share is Rs 2.

The proposed issue of foreign currency denominated bonds has already been approved by the board of directors of the company at a meeting held on 2 November 2015 and by the shareholders at a meeting held on 9 August 2016.

The pricing, tenure and other terms of the bonds to be issued pursuant to the issue will be determined by the Finance Committee of the company. The details of which shall be intimated in due course and shall take place on 12 January 2017 or on a later date subject to market conditions and other considerations, Adani Ports said.

Adani Ports and Special Economic Zones (APSEZ) consolidated net profit rose 61% to Rs 1090.81 crore on 20.7% increase in net sales to Rs 2175.77 crore in Q2 September 2016 over Q2 September 2015.

APSEZ, a part of the Adani Group, is Indias largest private port operator.

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Board of Gandhi Special Tubes to consider Q3 results and interim dividend
Jan 10,2017

Gandhi Special Tubes announced that the meeting of the Board of Directors of the company is scheduled to be held on 24 January 2017, inter alia, to transact the following business:

1. To consider and approve the Un-Audited Financial Results for the Quarter and Nine months ended 31 December 2016 together with the Limited Review Report of the Auditor.

2. To consider and declare Interim Dividend for the Financial Year ending 31 March 2017.

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Sri Nachammai Cotton Mills to announce December quarter results
Jan 10,2017

Sri Nachammai Cotton Mills announced that a Meeting of the Board of Directors of the Company will be held on 02 February 2017, inter alia, to consider the Unaudited Financial Results of the Company for the Quarter ended 31 December 2016.

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Everest Organics to consider conversion of warrants
Jan 10,2017

Everest Organics announced that a meeting of the Board of Directors of the Company will be held on 12 January 2017, inter alia, to convert warrants into Equity Share.

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Board of Endurance Technologies to consider December quarter results
Jan 10,2017

Endurance Technologies announced that a meeting of Board of Directors of the Company is scheduled to be held on 08 February 2017, inter alia, to consider and approve the unaudited financial results for the quarter and nine months ended on 31 December 2016.

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Board of Vinyl Chemicals (I) to consider Q3 and 9M results
Jan 10,2017

Vinyl Chemicals (I) announced that a meeting of the Board of Directors of the Company will be held on 31 January 2017, inter alia, to consider the Unaudited Financial Results (Provisional) for the third quarter and 9 months ended 31 December 2016.

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