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Interest rate sensitive stocks in focus ahead of RBIs rate decision
Dec 07,2016

Interest rate sensitive bank, realty and auto stocks will be in focus ahead of the Reserve Bank of Indias (RBI) monetary policy decision scheduled at 14:30 IST today, 7 December 2016. It will be interesting to watch RBIs monetary policy stance this time in a scenario of governments recent historic move of demonetization of higher denomination notes and amid easing consumer inflation.

ICICI Bank announced after market hours yesterday, 6 December 2016, that the committee of executive directors of the bank is scheduled to have a meeting on 9 December 2016, to consider fund raising in single/multiple tranches in any currency through public/private placement by way of issuances of debt instruments etc. for the remaining period of the financial year ending 31 March 2017 (FY 2017).

Adani Enterprises announced after market hours yesterday, 6 December 2016, that the company has incorporated a wholly owned subsidiary namely, Adani Cementation Limited (ACL) on 6 December 2016.

Lupin announced after market hours yesterday, 6 December 2016, that its US subsidiary, Lupin Pharmaceuticals, Inc. received final approval for its Desoximetasone Ointment USP, 0.25% from the United States Food & Drug Administration (USFDA) to market a generic version of Taro Pharmaceuticals, Incs Topicort Ointment, 0.25%. It is indicated for the relief of the inflammatory and pruritic manifestations of corticosteroid responsive dermatoses. Topicort had annual US sales of $14.4 million as per IMS MAT September 2016 data.

Jubilant FoodWorks announced after market hours yesterday, 6 December 2016, that Dominos launched new products designed for Foodies -Quattro Formaggi Burst Pizza and Choco Pizza.

Kirloskar Brothers announced after market hours yesterday, 6 December 2016, that Kirloskar Brothers International Pty Limited, companys step down subsidiary company in South Africa, being direct subsidiary of Kirloskar Brothers International B.V. has incorporated Kirloskar Brothers International Zambia Limited as its wholly owned subsidiary on 30 November 2016.

Shiva Cement announced before market hours today, 6 December 2016, that the board of directors of the company at a meeting held on 6 December 2016, approved allotment of 80 lakh equity shares of Rs 2 each at a premium of Rs 4.20 per share to Harsh Vanijya Private Limited upon exercise of option by them for conversion of equity share warrants earlier allotted to them on preferential basis.

Vishal Bearings announced after market hours yesterday, 6 December 2016, that the board of directors of the company have fixed the record date as 16 December 2016 for 1:4 bonus issue.

VST Tillers Tractors reported after market hours yesterday, 6 December 2016, power tiller sales of 1,495 units and tractors sales of 684 units in November 2016.

Deep Industries informed that a meeting of qualified institutional placement (QIP) committee of the company is scheduled to be held on 9 December 2016, to consider and determine the price of equity shares of the company to be issued in the QIP. The announcement was made after market hours yesterday, 6 December 2016.

KEI Industries in focus. In continuation of companys earlier update on planned capex/expansion at Chopanki plant, KEI Industries has announced after market hours yesterday, 6 December 2016, that new production line of Extra High Voltage (EHV) cables at Chopanki plant would be operational by the end of December 2016.

IL&FS Transportation Networks announced that the Joint Venture comprising of the company and PJSC Kyivmetrobud in the ratio of 70:30 had submitted bids with the Chennai Metro Rail (CMRL) on item rate basis for design validation and construction of works of underground station.

The Joint Venture has emerged as the lowest bidder for the development of the project. The Joint Venture had quoted an amount of Rs 371.218 crore for the project to be completed in a period of 20 months. The announcement was made after market hours yesterday, 6 December 2016.

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Tata Power may gain after winning order from Indian Army
Dec 06,2016

Tata Power Company announced that its strategic engineering division, Tata Power SED won a prestigious order from Ministry of Defence for supply of Command post and launcher of Pinaka multi rocket launcher system of one regiment to Indian Army. The announcement was made after market hours yesterday, 5 December 2016.

Lupin announced that Lupin Somerset also known as Novel Laboratories, Inc received final approval for its Hydrocodone Bitartrate and Acetaminophen Tablets, USP, 5mg/325mg, 7.5 mg/325 mg and 10 mg/325 mg from the United States Food and Drug Administration (FDA) to market a generic equivalent of Allergan Sales LLCs Norco Tablets 5 mg/325 mg, 7.5 mg/325 mg and 10 mg/325 mg. The company shall launch the product shortly. It is indicated for the relief of moderate to moderately severe pain. It has US sales of $849.50 million as per IMS MAT September 2016. The announcement was made after market hours yesterday, 5 December 2016.

Canara Bank announced that the sub-committee of the board of the bank, vide orders dated 2 December 2016, permitted the bank to float an RFP for empanelling the investment/merchant bankers for diluting the banks stake of 70% in Canbank Factors Ltd, an unlisted company and of 13.45% in Can Fin Homes Ltd, a listed company. Accordingly, the bank is taking steps to float an RFP for empanelling the investment/merchant bankers for the subject purpose. The announcement was made after market hours yesterday, 5 December 2016.

Oracle Financial Services Software announced that due to significant devaluation of Egyptian Pound post the recent liberalization of the exchange rates by the Egypt Government, the company is estimating a charge of Rs 60 crore on its receivables from customers in Egypt during the current quarter. The announcement was made after market hours yesterday, 5 December 2016.

Ballarpur Industries reported consolidated net loss of Rs 452.03 crore in Q2 September 2016 compared with net loss of Rs 18.06 crore in Q2 September 2015. Net total income from operations fell 56.56% to Rs 461.76 crore in Q2 September 2016 over Q2 September 2015. The result was announced before market hours today, 6 December 2016.

Bank of India intimated of marginal cost of funds based lending rate (MCLR) applicable from 7 December 2016. The announcement was made after market hours yesterday, 5 December 2016. Overnight MCLR was fixed at 9%, one month MCLR was fixed at 9.05%, three month MCLR was fixed at 9.1%, six months MCLR was fixed at 9.15% and one year MCLR was fixed at 9.25%.

JM Financial announced that JM Financial Products Limited, a subsidiary of the company, on 2 December 2016, acquired further 15.05 lakh equity shares of India Home Loan Limited (IHL) through preferential allotment route. After the acquisition, JM Financial Products Limited holds an aggregate of 34.99 lakh equity shares of IHL representing 24.5% of the total post issue paid up equity share capital of IHL. The announcement was made after market hours yesterday, 5 December 2016.

OM Metals Infraprojects announced that the company has been awarded a works contract for hydro mechanical works package for modernization and renovation of 180 megawatts Baira Siul hydro electric power station in Himachal Pradesh by NHPC.The contract value is Rs 19.91 crore and this contract has to be executed in 28 months time period. The announcement was made after market hours yesterday, 5 December 2016.

Goa Carbon announced that the operations at the companys Bilaspur Plant located at 34-40, Sector B, Sirgitti Industrial Area, Bilaspur (Chattisgarh) has been temporarily shut down from Saturday, 3 December 2016. There would not be any financial impact due to the temporary shutdown of the Companys Bilaspur Unit as there is sufficient inventory to service the orders in hand. The announcement was made after market hours yesterday, 5 December 2016.

Future Enterprises announced that the Committee of Directors of the company has at a meeting held on 5 December 2016, considered, approved & allotted of 60, 9.75% secured, redeemable non-convertible debentures (NCDs) of Rs 10 lakh each (NCD Series XV - E) and 290, 9.80% secured redeemable non-convertible debentures (NCDs) of Rs 10 lakh each, (NCD Series XV - F) aggregating to Rs 35 crore, on private placement basis. The announcement was made after market hours yesterday, 5 December 2016.

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State Bank of Travancore may gain on plans to raise funds
Dec 05,2016

State Bank of Travancore announced that the executive committee of the board of directors of the bank is scheduled to meet on 7 December 2016, to consider and approve, the raising of up to Rs 600 crore by way of issue of Basel III compliant additional tier I bonds. The issue parameters will be as decided in the meeting of the executive committee of the board of directors. The announcement was made after market hours on Friday, 2 December 2016.

NMDC announced that Government of India, Ministry of Steel has communicated the in-principle decision of the Cabinet Committee on Economic Affairs (CCEA) of Government of India to consider strategic disinvestment of the Nagarnar Steel Plant of the company. The announcement was made after market hours on Friday, 2 December 2016.

Separately, company announced on Saturday, 3 December 2016, that the prices of lump iron ore with effect from 29 November 2016 was kept unchanged at Rs 2,100 per wet metric tonne (WMT) compared to prices last revised in early November. The company rose fine ore prices by 5.68% to Rs 1,860 per WMT from 29 November 2016, compared to prices last revised in early November.

Simplex Infrastructures net profit fell 30.76% to Rs 18 crore on 11.88% drop in revenue to Rs 1290 crore in Q2 September 2016 over Q2 September 2015. The order book as on 30 September 2016 stood at Rs 13485 crore excluding the L1 of Rs 2543 crore. The result was announced on Sunday, 4 December 2016.

Info Edge (India) announced that the company has, through its wholly-owned subsidiary, invested an additional amount of Rs 1 crore through optionally convertible cumulative redeemable preference shares in Vcare Technologies which has developed a mobile application named DIRO that works as a cross platform sharable collaborative phonebook.

Accordingly, the aggregate investment by the company, including the above, is now Rs 4 crore in Vcare Technologies which translates to about 14.77% stake as on date (may change on account of conditions in investment/shareholder agreement) in the company on a fully converted and diluted basis. The announcement was made on Saturday, 3 December 2016.

Supreme Infrastructure India reported net loss of Rs 43.39 crore in Q2 September 2016 compared to net profit of Rs 1.11 crore in Q2 September 2015. Net total income from operations fell 41.84% to Rs 194.04 crore in Q2 September 2016 over Q2 September 2015. The announcement was made on Saturday, 3 December 2016.

Kolte-Patil Developers consolidated net profit rose 54% to Rs 19.30 crore on 25% rise in revenue to Rs 226 crore in Q2 September 2016 over Q2 September 2015. The announcement was made on Saturday, 3 December 2016.

Surya Roshni announced that considering the overwhelming response for the commercial paper programmes of Rs 200 crore and the present liquidity conditions, company had requested the ICRA Credit Rating Agency for enhancing the limit of Commercial Paper Programme to Rs 300 crore from Rs 200 crore.

ICRA Credit Rating vide its letter dated 1 December 2016 has assigned a provisional (ICRA)A1+(SO) rating for the enhanced amount of Rs 300 crore (enhanced from Rs. 200 crore).

The rating has been assigned based on request of the company, improved financial risk profile characterized by the improvement in its capital structure and debt coverage and supported by performance of the company. The rating as proposed by ICRA brings liquidity, gradually reduces the finance cost and enhance financial strength of the company. The announcement was made on Saturday, 3 December 2016.

Bajaj Finance announced allotment of 1,050 unsecured subordinated, Tier II, redeemable non-convertible debentures on private placement basis aggregating Rs 105 crore on 2 December 2016. The announcement was made on Saturday, 3 December 2016.

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Wipro in focus after securing contract from Woodside
Dec 02,2016

Wipro said that it has been awarded a three-year IT infrastructure services and digital transformation contract by Woodside, an Australian oil and gas company. The announcement was made after market hours yesterday, 1 December 2016.

Reliance Industries (RIL) will be in spotlight as the companys telecom unit Reliance Jio Infocomm (Jio) announced that it has crossed 5 crore subscribers in just 83 days from commencement of services on 5 September 2016. The average rate of addition of 6 lakh subscribers per day is the fastest achieved by any technology company in the world including the likes of Facebook, WhatsApp and Skype. The announcement hit the exchanges at the fag end of the market hours yesterday, 1 December 2016.

On this occasion, Jio also announced the launch of Jio Happy New Year Offer (JNO), which will be effective from 4 December 2016. All the Jio subscribers will be entitled to certain special benefits under the JNO, which shall comprise of Jios Data, Voice, Video and the full bouquet of Jio applications and content, absolutely free, up to 31 March 2017. During this offer period, Jio and Jio customers, will be able to continue the journey of co-creating and building the best network experience together.

The benefits will be available to all subscribers signing up for Jio services up to 3 March 2017. The existing Jio Welcome Offer (JWO) users will continue to enjoy the unlimited benefits under JWO up to 31 December 2016, following which they would be automatically signed-up for the JNO as well. Reliance Jio Infocomm, doing business as Jio, is a LTE mobile network operator in India. It is a wholly owned subsidiary of RIL.

IndusInd Bank announced that it proposes to raise funds by issue and allotment of senior unsecured redeemable non-convertible long term bonds in the nature of debentures (infrastructure bonds) for cash aggregating to Rs 1500 crore on private placement basis. The said borrowing shall be within the overall borrowing limits of the bank as may be approved by the shareholders from time to time. The announcement was made after market hours yesterday, 1 December 2016.

Coal India and its subsidiaries achieved 93% of targeted production at 50 million tonnes in November 2016. The company achieved 97% of targeted offtake at 48.16 million tonnes in November 2016. The announcement was made after market hours yesterday, 1 December 2016.

Tata Motors announced that its passenger and commercial vehicle total sales (including exports) in November 2016 were at 38,900 units, almost flat compared with 38,918 vehicles sold in November 2015. The announcement was made after market hours yesterday, 1 December 2016.

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PSU OMCs in spotlight after fuel price revision
Dec 01,2016

Stocks of public sector oil marketing companies (PSU OMCs) will be in focus after announcing a revision in petrol and diesel prices with effect from midnight of 30 November/1 December 2016. Indian Oil Corporation (IOCL) yesterday, 30 November 2016, announced an increase in the price of petrol by Rs 0.13 per litre (excluding state levies) and a decrease in the price of diesel by Rs 0.12 a litre (excluding state levies). The movement of prices in the international oil market and rupee-dollar exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes, IOCL said.

Shares of auto companies will be in focus as companies start unveiling monthly sales volume data for November 2016 from today, 1 December 2016.

Wipro announced that it has signed an agreement for divestment of its EcoEnergy division viz. Wipro EcoEnergy on slump sale basis, for a consideration of $70 million. The buyer is Chubb Alba Control Systems (Chubb Alba), an indirect subsidiary of United Technologies Corporation (UTC). The sale is expected to be closed in early 2017, subject to requisite approvals. The announcement was made after market hours yesterday, 30 November 2016.

RBL Bank announced that the Reserve Bank of India (RBI), vide its letter dated 30 November 2016, has granted in-principle approval for opening of international financial services centre banking unit at Gujarat International Finance Tech-City (GIFT), Gujarat. The announcement was made after market hours yesterday, 30 November 2016.

Reliance Communications (RCom) announced that Moodys Investors Service, Inc (Moody) has affirmed B2 corporate family rating and senior secured bond rating given to the companys subsidiary Global Cloud Xchange (GCX). Moody has affirmed the rating to GCX on the heels of announcing the deployment of its Cumulous Network, a major step forward in provisioning next generation connectivity services to support digital transformation and economic growth across India and the emerging markets. The announcement was made after market hours yesterday, 30 November 2016.

Sagar Cements announced that a meeting of the securities allotment committee of the board will be held on 5 December 2016, to consider the allotment of 6.11 lakh shares on a preferential basis to the persons forming part of promoter as well as non-promoter group, as earlier approved by the companys shareholders. The announcement was made after market hours yesterday, 30 November 2016.

Ratnamani Metals & Tubes net profit fell 13.8% to Rs 28.53 crore on 23.83% decline in net total income from operations to Rs 336.03 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours yesterday, 30 November 2016.

Geojit BNP Paribas Financial Services announced that BNP Paribas S A, notified the company that they acquired control of Sharekhan on 23 November 2016.Consequent to the acquisition, Franciska Decuypere and Jean Philippe Huguet nominees of BNP Paribas S A, resigned from the board of directors of the company effective close of business hours of 25 November 2016 and 23 November 2016 respectively. The resignation is in accordance to the terms of restated shareholders agreement entered between the company, BNP Paribas S A, its affiliate and the initial promoters of the company dated 22 January 2016. The announcement was made after market hours yesterday, 30 November 2016.

Hinduja Ventures announced that the committee of directors approved disinvestment of 1.75 crore equity held by the company in Hinduja Energy (India) as per independent valuation of Rs 31.58 per share to third party. The announcement was made after market hours yesterday, 30 November 2016.

The board of directors had approved disinvestment of 1 lakh equity shares held in Induslnd Media and Communications (IMCL) (0.13% of the paid up equity capital of IMCL), unlisted material subsidiary of the company for total consideration amounting to Rs 4.66 crore at a price of Rs 466 per share to a third party, based on IMCL equity valuation of Rs 3444.06 crore as per independent valuation by third party. The holding of the company in IMCL after disinvestment will reduce to 4.46 crore equity shares or 60.43% of the paid up equity share capital of IMCL.

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Tata Power in focus after turnaround in Q2 results
Nov 30,2016

Tata Power Company reported consolidated net profit of Rs 336.24 crore in Q2 September 2016, compared with net loss of Rs 95.87 crore in Q2 September 2015. Total income declined 3.5% to Rs 7311.82 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 29 November 2016.

Lupin announced that its US subsidiary Lupin Pharmaceuticals Inc (LPI) has received final approval for its Armodafinil tablets 50mg, 150mg, 200mg and 250mg from the United States Food and Drug Administration (USFDA) to market a generic version of Cephalon, Incs Nuvigil tablets. LPI shall commence promoting the product in the US shortly. Lupins Armodafinil tablets are the AB rated generic equivalents of Cephalon, Incs Nuvigil tablets. Armodafinil tablets are indicated to improve wakefulness in adult patients with excessive sleepiness associated with obstructive sleep apnea (OSA), narcolepsy or shift work disorder (SWD). Nuvigil tablets had annual US sales of $515.6 million as per IMS MAT September 2016 data. The announcement was made after market hours yesterday, 29 November 2016.

Oil India said that the board of directors of the company in a meeting held on 28 November 2016, accorded approval for voluntary winding up of its wholly owned subsidiary-Oil India International in accordance with the provisions of the applicable laws. The announcement was made after market hours yesterday, 29 November 2016.

JK Paper announced that credit rating agency, India Ratings and Research (IndRa), assigned JK Papers Rs 5 crore term deposit programme rating at IND A-. The outlook is positive. The announcement was made after market hours yesterday, 29 November 2016.

Welspun Enterprises said that National Highways Authority of India (NHAI) has with respect to the concession agreement entered into between Welspun Delhi Meerut Expressway, a wholly-owned subsidiary of the company and NHAI for execution of the project on 4 March 2016, declared the appointed date for the project as 28 November 2016. Under the concession agreement, construction of the project is to be completed within 2.5 years from the appointed date and is to be maintained for 15 years thereafter, post which it will be transferred to NHAI. The project is to develop the existing section of a road in Delhi by six laning and four laning the either side of the expressway on design, build, operate and transfer basis. The announcement was made after market hours yesterday, 29 November 2016.

Eros International Media said that the meeting of board of directors of the company will be held on 2 December 2016, to consider and approve the proposal to raise funds through issue and offer of secured/unsecured, redeemable, non convertible debentures on public/private placement basis, in one or more tranches, upto the limit as may be decided by the board. The announcement was made after market hours yesterday, 29 November 2016.

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Tata Steel in focus after signing pact with Liberty House for sale of UK speciality steel biz
Nov 29,2016

Tata Steel will be in focus. Tata Steel UK announced the signing of a letter of intent with Liberty House Group to enter into exclusive negotiations for the potential sale of its Speciality Steels business for an enterprise value of n++100 million subject to due diligence and corporate approvals. The letter of intent covers several South Yorkshire-based assets including the Rotherham electric arc steelworks, the steel purifying facility in Stocksbridge and a mill in Brinsworth as well as service centres in Bolton and Wednesbury, UK, and in Suzhou and Xian, China. Speciality Steels employs about 1,700 people making steels for the aerospace, automotive and the oil & gas industries. The announcement was made after market hours yesterday, 28 November 2016.

Tata Steel UK has invested n++1.5 billion of capital over the last nine years. The companys boards consider the technical feasibility and economic returns of investments when taking decisions, as well as their affordability. The company is pursuing a transformation plan to create a sustainable future for its UK strip products business. The success of this plan is likely to influence decisions on future investments.

In the current year, the company is pursuing n++85m worth of capital investments covering a range of sustenance and improvement schemes. Tata Steel has recently approved schemes focused on improving manufacturing capability to enable the production of premium steels in Shotton, Llanwern, Trostre, Orb in Newport, and other downstream operations as well as environmental schemes for Port Talbots power plant. Investments in packaging steels, electrical steels, an automotive finishing line, laser welding and next-generation coated products are in line with companys strategy to enhance premium product focus for UK strip products supply chain.

Sun Pharmaceutical Industries (Sun Pharma) announced the launch of BromSite (bromfenac ophthalmic solution) 0.075% in the US market. A nonsteroidal anti-inflammatory drug (NSAID) indicated for the treatment of postoperative inflammation and prevention of ocular pain in patients undergoing cataract surgery, BromSite will be marketed by Sun Ophthalmics, the companys branded ophthalmic business solution. BromSite is the first branded product launched by the company in the US, following its focus on Specialty business. The announcement was made after market hours yesterday, 28 November 2016.

Tata Power Company will be in spotlight. With regard to news article in media titled Fire breaks out at Tata Power Delhi Distributions Badli power house, the company after market hours yesterday, 28 November 2016, issued a clarification to the exchanges. Tata Power said that on 27 November 2016, there was a fire incident in the area next to the boundary wall of the Tata Power Delhi Distribution (TPDDL) Badli grid. There were nearly 76 drums of 66 KV cables which were stored by a vendor/contractor for project work. 46 cable drums were damaged while 30 cable drums were quickly shifted and saved. The cable belonged to the vendor who had stored/kept it in the grid till it was installed. The cables are insured by the vendor and there is no impact on TPDDL. TPDDL senior officials were there at the site. There was no impact on the grid and grid is safe and supply to TPDDLs consumers was not impacted. The reason for the fire is being investigated and suitable corrective action will be taken based on the fact finding report, Tata Power said.

Timken Indias net profit rose 41.11% to Rs 29.86 crore on 7.26% rise in net total income from operations to Rs 296.75 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 28 November 2016.

Triveni Engineering & Industries consolidated net profit jumped 205.53% to Rs 67.92 crore on 49.69% rise in total income from operations to Rs 675.51 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 28 November 2016.

Mahanagar Gas net profit rose 40.88% to Rs 102.24 crore on 3.11% decline in total income from operations to Rs 574.18 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 28 November 2016.

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Aurobindo Pharma in spotlight on pact with Teva in France
Nov 28,2016

Aurobindo Pharma said that its French subsidiary Arrow Generiques SAS, announced the signing of an agreement to acquire select commercial products in France from Teva. Arrow Generiques will acquire the right, title and interest in products calcium and calcium vitamin D3, including the use of the OROCAL trademark. The transaction is subject to the approval of the European Commission. Following receipt of clearances from European authorities, Arrow Generiques will integrate these products with its existing commercial operations in France, and focus on maximizing their potential. Arrow Generiques and Teva intend to ensure continuity of the supply of the products to the market. This acquisition will enable Arrow Generiques to continue to increase its branded products portfolio and leverage its position as a key player in the drug market. Arrow Generiques is a pharmaceutical company with focus on selling generics on the retail and hospital markets in France since 2002. The announcement was made after market hours on Friday, 25 November 2016.

Bharti Airtel announced on Saturday, 26 November 2016 that Bharti Airtel International (Netherlands) BV through its wholly owned subsidiary (Airtel), has completed the acquisition of Econet Wireless entire 4.2% shareholding in Airtel Nigeria. As a result, Airtels overall holding in Airtel Nigeria has increased to 83.25%.

Reliance Industries (RIL) will be in focus. In its clarification with regard to news item titled n++Two killed, six injured in fire at Reliance refineryn++, the company after market hours on Friday, 25 November 2016 said there was an unfortunate flash fire in one of the units under a planned maintenance shutdown in its DTA refinery at Jamnagar. While the Reliance fire brigade extinguished the fire swiftly, this has resulted in injuries to 8 contract workers, who are being provided necessary medical treatment. Inspite of timely medical help provided by Reliance medical staff, unfortunately two of them succumbed to their injuries. All operations of the refinery continue to be normal, RIL said.

Engineering and construction major L&T announced that its wholly owned subsidiary, L&T Hydrocarbon Engineering unveiled a high-tech spool base facilities at L&Ts fabrication facility at Kattupalli in Chennai on 25 November 2016. These facilities are being employed to execute a prestigious lump sum turn key (LSTK) contract that has been bagged from ONGC for a subsea installation by a consortium of J. Ray Mc Dermott S.A., Berlian McDermott & L&T Hydrocarbon Engineering in international competitive bidding. The announcement was made after market hours on Friday, 25 November 2016.

Bosch said that based on the proposal and action plan submitted by the company, the Rajasthan State Pollution Control Board has vide its letter dated 24 November 2016, extended the abeyance order revoking the consent given to operate the companys jaipur plant for further period of three weeks upto 17 December 2016. The company would co-operate with the authorities for early resolution of the matter, Bosch said. The announcement was made after market hours on Friday, 25 November 2016. It may be recalled that the Jaipur plant of Bosch was served with an order dated 27 October 2016 by Rajasthan State Pollution Control Board revoking the consent given to operate the jaipur plant for alleged non-fulfillment of certain conditions with respect to waste water treatment and re-use of the treated water. The company, had therefore, closed the operations at the plant from 28 October 2016. Bosch at that time had put the estimated production loss at about Rs 2.5 crore per day due to closure of operations at the said plant. Jaipur plants license was valid up to 28 February 2017, the company had said at that time.

Tata Steel announced that the company at its meeting held on Friday, 25 November 2016, decided to convene an extraordinary general meeting (EGM) on 21 December 2016, pursuant to the special notice & requisition dated 10 November 2016, received from Tata Sons, promoter and principal shareholder of the company, holding 29.75% of the paid-up ordinary share capital of the company, to consider and if thought fit, to pass the resolutions viz. removal of C. P. Mistry as director of the company and removal of Nusli N. Wadia as director of the company. The announcement was made after market hours on Friday, 25 November 2016.

Vedanta announced that the company proposes to offer rated secured redeemable non-convertible debentures aggregating upto Rs 500 crore and in this regard, the company is holding a meeting of its duly constituted committee of the board on 30 November 2016. The announcement was made after market hours on Friday, 25 November 2016.

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Yes Bank will be watched on partnering GSRTC to digitize bus travel payments
Nov 25,2016

Yes Bank announced that it has partnered with the Gujarat State Road Transport Corporation (GSRTC) to digitize payments of bus tickets for its customers. Under the partnership, Yes Bank will install over 125 PoS (point-of-sale) terminals to facilitate booking of tickets through credit and debit cards at all the GSRTC bus depots. Yes Bank is already live with 50 terminals as on date and will achieve a number of 125 in the next couple of weeks as part of the first phase of implementation. The announcement was made after market hours yesterday, 24 November 2016.

Union Bank of India said it issued 7,500 redeemable, unsecured subordinated basel III compliant Tier II bonds eligible for inclusion in Tier 2 capital. The bonds were issued on 24 November 2016 at face value of Rs 10 each each, aggregating to Rs 750 crore. The announcement was made after market hours yesterday, 24 November 2016.

Wipro announced that it has completed the acquisition of Appirio on 23 November 2016. As mentioned in the media presentation submitted as part of results for the quarter ended 30 September 2016, impact of the Appirio acquisition is expected to reflect in the financials of Wipro for the quarter ending 31 December 2016, the company said. The announcement was made after market hours yesterday, 24 November 2016.

Sunil Hitech Engineers announced that it has fixed 3 December 2016 as record date for 10-for-1 stock split and fully paid up bonus equity shares of face value of Re 1 each in the proportion of one bonus equity share for every one equity share of face value of Re 1 (i.e. as adjusted for stock split). The announcement was made after market hours yesterday, 24 November 2016.

Bata India, BEML and Spicejet are among few prominent companies which are scheduled to announce the results for the quarter ended 30 September 2016 today, 25 November 2016.

Jagran Prakashan announced that board of directors of the companys subsidiary, Music Broadcast (MBL), approved an initial public offer (IPO). The IPO will comprise of a fresh issue of upto Rs 400 crore and an offer for sale by existing shareholders. MBL has sent has sent a letter of transmittal to its shareholders seeking their participation in the offer for sale for the sale portion of the IPO. The announcement was made after market hours yesterday, 24 November 2016.

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Power Grid Corporation of India in spotlight on fund raising plan
Nov 24,2016

Power Grid Corporation of India (PGCIL) after market hours yesterday, 23 November 2016 said that a meeting of Committee of Directors for Bonds is planned to be held on 28 November 2016, to consider issue of secured, redeemable, non-convertible, non-cumulative, taxable bonds (debenture) under private placement.

Software major Infosys after market hours yesterday, 23 November 2016, announced that it has signed a definitive agreement to a Limited Partner investment of Rs 31.6 crore from its Innovation Fund in Stellaris Venture Partners, an India-based early stage venture fund. This investment is towards the first close of Stellaris fund. The investment is expected to complete by 15 December 2016.

Zee Entertainment Enterprises (Zee) after market hours yesterday, 23 November 2016, announced the acquisition of general entertainment television broadcasting undertakings from Anil Ambani led Reliance Group (Reliance) under a composite scheme of arrangement subject to requisite approvals. Reliances TV business comprises two entertainment channels (Big Magic, Big Ganga) and four other TV licenses. The business shall get demerged into Zee from three Reliance entities viz. Big Magic, Reliance Big Broadcasting (RBBL) and Azalia Broadcast (Azalia). The consideration payable by the company for the proposed acquisition shall be by way of taking over off debt of the demerged undertakings aggregating about Rs 295 crore and issuance of unlisted preference shares aggregating to Rs 3.95 crore to the shareholders of transferor companies. The appointed date of the demerger scheme shall be 31 March 2017. The transaction is expected to close in the second half of the calendar year 2017. Reliance also operates a news and current affairs channel (BTV) which is not part of the transaction.

RBL Bank said it entered into an agreement with Bajaj Finance for launching a series of co-branded credit cards in partnership for the Indian market. These co-branded credit cards are proposed to be launched in December 2016. The announcement was made after market hours yesterday, 23 November 2016.

AXIS Bank said that its board allotted 18,000 unsecured redeemable non-convertible subordinated debentures (Basel-III compliant Tier II debentures) (Series - 25) of the face value of Rs 10 lakh each for cash at par aggregating to Rs 1800 crore on a private placement basis. The said debentures will be listed on the wholesale debt market segment of the BSE and National Stock Exchange of India. The said debentures is rated n++AAA by ICRA and Ind-Ra. The announcement was made after market hours yesterday, 23 November 2016.

Seamec said it has entered into a contract for the charter hire of vessel n++REVELATIONn++ with Resolve Salvage and Fire (Asia) for undertaking a job in West Coast of India. The tenure of the contract is for a firm period of 25 days subject to extension. The contract will commence around the first week of January 2017. The value of charter during firm period is $244,000. The announcement was made after market hours yesterday, 23 November 2016.

Rallis India said it signed an agreement for increasing its stake in its subsidiary, Zero Waste Agro - Organics, to 100% from 73.63% earlier. Consequently, ZWAOL will become a wholly owned subsidiary of the company. The announcement was made after market hours yesterday, 23 November 2016.

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L&T in focus after strong Q2 results
Nov 23,2016

Engineering & construction major L&Ts consolidated net profit jumped 84.31% to Rs 1434.63 crore on 8.73% growth in total income to Rs 25491.96 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 22 November 2016.

The companys consolidated profit after tax (PAT) before exceptional items rose 41% to Rs 1032 crore in Q2 September 2016 over Q2 September 2015. As a part of implementation of its strategic plan, the company has divested the General Insurance business. Gross revenue on consolidated basis rose 8.2% to Rs 25011 crore in Q2 September 2016 over Q2 September 2015. Consolidated order inflow increased by 11% year on year (YoY) to Rs 31119 crore in Q2 September 2016. International orders constituted 24% of the total order inflow. Consolidated order book stood at Rs 251773 crore as on 30 September 2016, higher by 4% on YoY basis. International order book constituted 29% of the total order book.

On the business outlook, L&T said, it has integrated range of comprehensive offerings in its various operating segments and is implementing its strategic plan of profitable growth and higher return on equity. On the international front, the company continues to strengthen its position and pursue select prospects in the core infrastructure and energy sector. L&T said, it is well placed to benefit from the emerging opportunities and sustain its leadership position across the sectors.

Bharti Airtel after market hours yesterday, 22 November 2016 announced that it has successfully completed the acquisition of rights to use 20 MHz of spectrum in 2300 Band ( BWA) from Aircel, for Andhra Pradesh circle following the receipt of all necessary approvals and satisfying all the conditions (including conditions stated in the Spectrum Trading Guidelines). With this, Bharti Airtel has completed the transaction in all 8 telecom circles.

Sun Pharmaceutical Industries (Sun Pharma) announced before trading hours today, 23 November 2016, the execution of definitive agreements by its wholly owned subsidiary, for the acquisition of 85.1% of JSC Biosintez, a Russian pharmaceutical company engaged in manufacture and marketing of pharmaceutical products in Russia and CIS region. The equity consideration for the 85.1% stake is $24 million. Sun Pharma would also assume a debt of approximately $36 million as part of this transaction. Biosintez is a Russian pharmaceutical company focusing on the hospital segment with annual revenues of approximately $52 million for 2015. It has a manufacturing facility in Penza region with capabilities to manufacture a wide variety of dosage forms including pharmaceuticals for injections, blood substitutes, blood preservatives, ampoules, tablets, ointment, creams, gels, suppositories, APIs, etc.

The transaction, expected to be completed by end of 2016, is subject to approval of the Russian Federal AntiMonopoly Service and other closing conditions. As per IMS (MAT September 2016), the Russian pharmaceutical market recorded sales of approximately $10 billion. The market recorded a growth of 7.4% in local currency terms as per IMS.

In a separate announcement after market hours yesterday, 22 November 2016, Sun Pharma said it received a letter from the Chief Financial Officer (CFO), Uday Baldota that he would be tendering his resignation as the CFO of Sun Pharmaceutical Industries to be effective with effect from in and around April 2017 due to his shifting to United States of America in and around April 2017 to look after the business of Taro Pharmaceutical Industries, a subsidiary of Sun Pharmaceutical Industries as its Chief Executive Officer.

Gujarat Industries Power Company (GIPCL) announced that it has commissioned two more wind turbine generators (WTGs) of 2.1 megawatts (MW) each at the Nakhatrana wind farm site at Kutch district in Gujarat. Gujarat Energy Development Agency (GEDA) has issued Certificates of Commissioning of WTGs. With the commissioning of two WTGs, GIPCL has now commissioned all the ten WTGs of the 21 MW wind farm at Nakhatrana wind farm site. The announcement was made after market hours yesterday, 22 November 2016.

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AXIS Bank in focus on plan to raise upto Rs 1800 crore via debentures
Nov 22,2016

AXIS Bank said it proposes to raise funds by issuing unsecured redeemable non-convertible subordinated debentures (Basel- III compliant Tier II debentures) (Series - 25) of the face value of Rs 10 lakh each for cash at par aggregating to Rs 1800 crore. The board of directors of the bank will consider the proposal to issue and allot the above securities through circular resolution. The announcement was made after market hours yesterday, 21 November 2016.

On a consolidated basis, Sobhas net profit fell 1.03% to Rs 38.40 crore on 8.36% increase in total income to Rs 552.20 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 21 November 2016.

Real estate developer Brigade Enterprises said it launched the countrys first real estate focused accelerator program. The accelerator will mentor startups whose products or services can be used in the real estate industry across various domains be it Residential, Office, Retail or Hospitality. The sectors in focus are Internet of Things (loT), nano technology, cleantech & renewables, visual computing such as augmented reality and virtual reality and logistics. Solutions can be applicable n++n either B2B or B2C models. The announcement was made after market hours yesterday, 21 November 2016.

Muthoot Capital Services said that Crisil has downgraded its rating on the debt instruments and bank facilities to Crisil A-/FA-/Stable from Crisil A/FA/Stable; the rating on the short-term debt has been reaffirmed at Crisil A1. The downgrade is primarily on account of downgrade in ratings on the bank facilities and debt instruments of Muthoot Fincorp (MFL). MFL is a flagship company of the group. The announcement was made after market hours yesterday, 21 November 2016.

Indian Hotels Company said that its board of directors has decided to convene an extraordinary general meeting (EGM) to pass an ordinary resolution for removal of C. P. Mistry as director of the company. The EGM will be held on 20 December 2016. The announcement was made after market hours yesterday, 21 November 2016.

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NBCC (India) in focus after declaring Q2 result
Nov 21,2016

NBCC (India)s consolidated net profit rose 1.42% to Rs 69.11 crore on 15.75% increase in net sales to Rs 1224.41 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours on Friday, 18 November 2016.

Housing finance major HDFC announced after market hours on Friday, 18 November 2016 that it has assigned the outstanding loans in projects of Unitech Group to JM Financial Asset Reconstruction Company (JMFARC). Detailing the rationale behind this move, HDFC stated that over the last three decades, it has funded various projects of the Unitech Group and that HDFCs current exposure to the Group involves funding of certain projects across various locations. In the recent past, the Unitech Group has faced sluggishness in the sale of apartments in its projects. This has affected the cashflows of the Group, which in turn has had an adverse impact on the progress of construction, and has resulted in irregular servicing of the loans. Under these circumstances, HDFC has assigned the outstanding loans in these projects to JMFARC. All these projects are located in prime locations, are financially viable but require additional funding. JMFARC will arrange for funds to support and kick-start these projects. The progress of the projects and the resultant cash flows will thereafter be closely monitored.

Against the total dues of Rs 869 crore in respect of these projects, JMFARC has paid HDFC Rs 155 crore upfront and has issued security receipts (SRs) to HDFC amounting to Rs 705 crore which will be redeemable over the period of construction. Though these accounts were standard assets as at 30 September 2016, and turned non-performing assets (NPA) only at the end of October 2016, in view of the irregular payment history, HDFC said, it has over the last few quarters as a matter of prudence, made provisions amounting to Rs 240 crore in respect of these accounts. No further provisioning is required as a result of the sale of the loans to JMFARC. After considering the provision of Rs 240 crore already made (34% of the SRs) the net carrying value of the SRs will be Rs 465 crore.

Vedanta announced after market hours on Friday, 18 November 2016 that its subsidiary Sesa Mining Corporation has revoked the suspension order in the Bicholim mines with immediate effect. The management took the decision after employees appealed to resume work. Sesa Mining Corporation had recently suspended the work at Bicholim mines due to union agitation/activism.

Alembic Pharmaceuticals announced that it received approval from the US Food & Drug Administration (USFDA) for its abbreviated new drug application (ANDA) for Telmisartan and Amlodipine tablets, 40 mg/5 mg, 40 mg/10 mg, 80 mg/5 mg, and 80 mg/10 mg. The approved ANDA is therapeutically equivalent to the reference listed drug product (RLD) Twynsta tablets, 40 mg/5 mg, 40 mg/10 mg, 80 mg/5 mg, and 80 mg/10 mg, of Boehringer Ingelheim Pharmaceuticals, Inc. Telmisartan and Amlodipine tablets are indicated for the treatment of hypertension, alone or with other antihypertensive agents to reduce blood pressure. Alembic now has a total of 50 ANDA approvals (44 final approvals and 6 tentative approvals) from USFDA. The announcement was made after market hours on Friday, 18 November 2016.

3M Indias net profit rose 1.26% to Rs 48.21 crore on 9.25% increase in total income to Rs 576.74 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours on Friday, 18 November 2016.

Rashtriya Chemicals and Fertilizers net profit fell 4.8% to Rs 43.42 crore on 26.47% side in total income to Rs 1789.03 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours on Friday, 18 November 2016.

Techno Electric & Engineering Companys consolidated net profit rose 58.33% to Rs 70.60 crore on 44.26% increase in total income to Rs 373.71 crore in Q2 September 2016 over Q2 September 2015. The result was announced on Saturday, 19 November 2016.

Siyaram Silk Mills net profit rose 6.06% to Rs 26.79 crore on 7.46% increase in total income to Rs 427.37 crore in Q2 September 2016 over Q2 September 2015. The result was announced on Saturday, 19 November 2016.

Great Eastern Shipping Company announced after market hours on Friday, 18 November 2016, that Greatship Global Offshore Services, a Singapore incorporated subsidiary of Greatship (India) (GIL), which is a wholly-owned subsidiary of the company, has sold and delivered its 2013.-built ROV Support Vessel (ROVSV) Greatship Ragini, to the buyers. With the delivery of this vessel to the buyers, GIL and its subsidiaries currently own and operate five Platform Supply Vessels (PSVs), eight Anchor Handling Tug Supply Vessels (AHTSVs), two Multipurpose Platform Supply and Support Vessels (MPSSVs), five R-class supply vessels and four jack-up rigs.

Shipping Corporation of India (SCI) said that on 18 November 2016, the company took physical delivery of secondhand MPSV m.v. SCI Sabarmati, having a gross tonnage of 3306 metric tonnes and deadweight of 3352.31 metric tonnes, at Singapore. The announcement was made after market hours on Friday, 18 November 2016.

GPT Infraprojects announced the commencement of trial production at the companys concrete sleeper plant in Pahara village located in Mirzapur district, Uttar Pradesh. GPT Infraprojects has set up the sleeper facility in Pahara in connection with the World Bank funded Eastern Dedicated Freight Corridor (EDFC) project for supplying concrete sleepers. This production facility, with a capacity of 400,000 sleepers per annum, is one of the 2 facilities being setup for this 246 crore contract of EDFC by the company. The first facility of similar capacity in Ikari, Uttar Pradesh began trial production this September. The announcement was after market hours on Friday, 18 November 2016.

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Reliance Industries in focus after signing global partnership agreement with GE for industrial IOT
Nov 18,2016

Reliance Industries (RIL) announced the signing of a global partnership agreement in the Industrial IOT (IIOT) space whereby RIL and GE will work together to build out joint applications on GEs Predix platform. The partnership marks the coming together of two of the worlds largest industrial conglomerates to provide Industrial IOT solutions to customers in oil & gas, fertilizer, power, healthcare, telecom and other industries. The announcement was made after market hours yesterday, 17 November 2016.

GE will provide its Predix cloud offering, Industrial Internet applications and data science expertise. RIL will develop solutions on Predix as an Independent Software Vendor (ISV), bringing to bear its over 30 years of data, process and operational expertise. RIL will also offer nationwide connectivity infrastructure to customers through a 4G network powered by Jio. GE would offer the security, availability and monitoring aspects of the platform to RIL and its customers. The potential for other revenue streams includes telecom, healthcare and agriculture.

Power Grid Corporation of India (PGCIL) will be in focus. Piyush Goyal, Minister of State (IC) for Power, Coal, New & Renewable Energy and Mines, in a written reply to a question in Lok Sabha yesterday, 17 November 2016 said that PGCIL has sought a loan assistance of $1,000 million from the Asian Development Bank (ADB) comprising of Sovereign guaranteed loan of $500 million and Non-Sovereign loan of $500 million. The Minister further informed that the loan would be utilized for funding of the transmission projects including a project under Green Energy Corridor projects in next 3-4 years.

Vedanta said that it proposes to offer rated secured redeemable non-convertible debentures aggregating to Rs 300 crore. In this regard, the company will hold a meeting of its duly constituted committee of the board on 22 November 2016. The announcement was made after market hours yesterday, 17 November 2016.

Canara Bank said it has revised deposit interest rates in different maturities in retail and bulk deposits in the range of 5 basis points (bps) to 25 bps and these are effective from 21 November 2016. The announcement was made after market hours yesterday, 17 November 2016.

Petronet LNGs net profit surged 81.72% to Rs 459.56 crore on 11.57% fall in total income to Rs 6705.88 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours yesterday, 17 November 2016.

Astral Poly Techniks consolidated net profit rose 43.94% to Rs 30.30 crore on 10.62% rise in total income to Rs 439.52 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours yesterday, 17 November 2016.

Punj Lloyd said that its wholly-owned subsidiary, Punj Lloyd Infrastructure (PLIL), has executed definitive agreements with India Power Green Utility (IPGUPL) to co-develop 30 megawatts (MW) of solar assets in Uttarakhand, in respect of three solar power projects, each of 10 MW capacity won by PLIL under the tariff based competitive bidding process in October 2015 to be executed by its wholly owned subsidiaries (WOS) viz. PL Surya Vidyut, PL Sunrays Power, and PL Solar Renewable. The announcement was made after market hours yesterday, 17 November 2016.

As per the transaction, PLIL will divest 49% of its shareholding in its three subsidiaries viz. PL Surya Vidyut, PL Sunrays Power and PL Solar Renewable. The SPVs have signed 25 years power purchase agreements with Uttarakhand Power Corporation. The company shall be responsible for the entire engineering, procurement and commissioning of the above projects. The transaction is expected to be completed once customary closing conditions and approvals are obtained. Greenstone Energy Advisors is acting as the exclusive financial advisor to PLIL for the transaction.

IIFL Holdings said that its Non-Banking Financial Company (NBFC) subsidiary, India Infoline Finance (IIFL), proposes to acquire the management and control of Bangalore-based Samasta Microfinance (Samasta), an NBFC - Micro Finance Institution (NBFC-MFI) registered with the Reserve Bank of India (RBI), through acquisition of upto 100% equity shares of Samasta subject to completion of necessary due diligence, regulatory and other internal approvals. Pursuant to this, IIFL, Samasta and the promoters of Samasta will enter into necessary agreements and documents to effect sale and purchase shares of Samasta in due course upon completion of due diligence, internal approvals and regulatory process.

Samasta promoted by Narayanswamy Venkatesh and Deviah Shivaprasad, first generation entrepreneurs, began operations as an MFI in March 2008 and operates in Tamil Nadu, Karnataka, Maharashtra and Goa through 64 branches. It currently has an AUM of about Rs 100 crore as on 30 September 2016. The proposed acquisition of Samasta will help IIFL to enter into micro finance segment and extend its wide ranging financial services to their large customer base. The announcement was made after market hours yesterday, 17 November 2016.

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Engineers India may gain after good Q2 result, liberal bonus issue
Nov 17,2016

Engineers Indias net profit rose 21.42% to Rs 93.75 crore on 22.60% decline in total income to Rs 394.98 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 16 November 2016. In a separate announcement, Engineers India said that its board approved 1:1 bonus issue of shares.

Bharti Airtel announced the completion of the merger of its subsidiary Airtel Bangladesh with Robi Axiata, a unit of Axiata Group Berhad. The merger was completed following the fulfilment of the condition precedents to the agreement and filing of the merger order with the registrar of joint stock companies and firms of Bangladesh Court. Post the merger, Axiata will hold 68.7% stake in the combined entity, while Airtel will hold 25%. The remaining 6.3% stake will be held by NTT DoCoMo. The announcement was made after market hours yesterday, 16 November 2016.

The combined entity will be the second largest mobile operator in Bangladesh with approximately 32.2 million customers and will operate under the Robi Axiata brand. It is well positioned to deliver an unparalleled portfolio of innovative mobile and broadband offerings at affordable rates with deep network coverage.

The joint strengths of Robi and Airtel sets the stage for the company to deliver the widest mobile network coverage across Bangladesh, enhancing its stronghold in the mobile Internet segment as well as consolidating its position as the second largest operator in the country.

The merger strengthens the long-term sustainability of the Bangladesh telecoms landscape and business environment, and will secure faster nationwide rollout of mobile broadband as well as contribute significantly to the overall economy of the country.

ITC after market hours yesterday, 16 November 2016 announced that King Maker Marketing, Inc., USA has ceased to be a subsidiary of the company with immediate effect. It may be recalled that ITC had announced on 9 October 2016, regarding divestment of the companys entire shareholding in its wholly owned subsidiary King Maker Marketing, Inc., USA.

Indraprastha Gas net profit rose 41.87% to Rs 144.18 crore on 1.21% rise in total income to Rs 987.57 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 16 November 2016.

Shipping Corporation of India reported net loss of Rs 20 crore in Q2 September 2016 as compared to net profit of Rs 161.83 crore in Q2 September 2015. Total income fell 29.58% to Rs 805.77 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 16 November 2016.

Reliance Communications (RCom), through its wholly-owned subsidiary Reliance Globalcom Services Inc, acquired a newly incorporated company named Onyx NewCo LLC (ONL), a Delaware Registered Company, on 15 November 2016. Delaware is a state located in the United States. ONL will be a telecommunications company, which is yet to commence its business operations. The announcement was made after market hours yesterday, 16 November 2016.

On a consolidated basis, Voltas net profit rose 7.21% to Rs 72.11 crore on 4.31% decline in total income to Rs 1047.30 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 16 November 2016.

Greenply Industries said that MSCI has announced the changes to constituents for the MSCI Global Small Cap Indexes and as part of change, Greenply industries will be added to the said index. Change in constituents for the MSCI Global Small Cap Indexes will take place as of the close of 30 November 2016. The announcement was made after market hours yesterday, 16 November 2016.

MSCI is a leading provider of benchmark indices and risk management analytics products. Many global mutual funds passively track MSCI indices. Hence any addition or deletion of a stock or change in weightage of a stock in MSCI indices will require the fund tracking MSCI indices to make adjustment to its portfolio.

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