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ACC, HDFC Bank in spotlight ahead of March quarter earnings
Apr 21,2017

ACC will announce its Q1 results today, 21 April 2017. HDFC Bank unveils its Q4 results today, 21 April 2017.

Reliance Industries (RIL) announced the successful and flawless commissioning of the second and final phase of Para-Xylene (PX) comprising of PX Crystallizers trains, Trans-alkylation and Aromatic Extraction units at Jamnagar. The announcement was made after market hours yesterday, 20 April 2017.

State Bank of India (SBI) said it has decided to serve notice of redemption to holders of $400 million Hybrid Tier 1 Notes issued pursuant to SBI, acting through its Nassau branchs $2000 million Medium Term Note programme for the redemption of the Notes on 15 May 2017. The announcement was made after market hours yesterday, 20 April 2017.

Tata Steels board at a meeting held yesterday, 20 April 2017, reviewed the performance, capital structure and financing plan of the company. Based on the review and pursuant to the existing shareholders approval, the board approved issue of debt securities of up to Rs 9000 crore in the form either of non-convertible debentures on private placement basis or foreign currency or rupee denominated bonds or a combination thereof in one or more tranches.

The funds will primarily be deployed towards re-financing the existing debt, capex/working capital requirements and general corporate purposes. The board of directors also authorized the finance committee of the board to determine and approve the timing and terms of such issue of securities. The announcement was made after market hours yesterday, 20 April 2017.

Indian Hotels Company announced that in terms of the authority granted by the board of directors at a meeting held on 18 May 2016, the company has allotted 2,000, rated, listed, unsecured, redeemable, non-cumulative & non- convertible debentures aggregating to Rs 200 crore on private placement basis. The announcement was made after market hours yesterday, 20 April 2017.

Fortune Financial Services (India) announced that a meeting of the board of directors of the company is scheduled to be held on 25 April 2017 to consider the approval for acquisition of equity shares of IRC Credit Management Services and INTL Risk Consultants Insurance Brokers by the company. The board will also consider the merger of Fortune Integrated Assets Finance with Fortune Financial Services(India) and any other business on that day. The announcement was made after market hours yesterday, 20 April 2017.

PVR announced that the employment of Vijay Kapoor who was employed as Chief Business Development Officer of the company has been terminated with effect from 20 April 2017 on disciplinary grounds. The announcement was made after market hours yesterday, 20 April 2017.

Housing Development & Infrastructure (HDIL) announced that it has launched a new project The Nest at Mulund, Mumbai, under the affordable housing brand Budget Homes, having 263 units open for sale in phase 1 of the project. The announcement was made after market hours yesterday, 20 April 2017.

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Tata Steel in focus ahead of board meeting
Apr 20,2017

Tata Steels board is scheduled to meet today, 20 April 2017, to consider a proposal for fund raising.

Among other companies, CRISIL, Cyient, Hindustan Zinc, Mastek and MindTree will announce their results for the quarter ended March 2017 today, 20 April 2017.

Yes Banks net profit rose 30.2% to Rs 914.10 crore on 29.44% rise in total income to Rs 5606.38 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours yesterday, 19 April 2017.

The banks gross non-performing assets (NPAs) rose to Rs 2018.56 crore as on 31 March 2017 as against Rs 1005.85 crore as on 30 December 2016 and Rs 748.98 crore as on 31 March 2016.

The ratio of gross NPAs to gross advances rose to 1.52% as on 31 March 2017 as against 0.85% as on 31 December 2016 and 0.76% as on 31 March 2016. The ratio of net NPAs to net advances stood at 0.81% as on 31 March 2017 as against 0.29% as on 31 December 2016 and 0.29% as on 31 March 2016.

The banks provisions and contingencies (excluding tax provisions) rose 66.11% to Rs 309.73 crore in Q4 March 2017 over Q4 March 2016.

The board of directors of the bank recommended the payment of final dividend Rs 12 per share for the year ended 31 March 2017 (FY 2017).

The board has also approved raising of funds by way of issuance of debt securities including but not limited to non-convertible debentures, MTN (medium term notes), bonds upto Rs 20000 crore (in Rupee or foreign currency) by the bank to eligible investors on private placement.

NTPC said that its board of directors accorded approval for updating and upsizing the $4 billion medium term notes (MTN) programme upto $6 billion for raising debt from international markets to part finance the capital expenditure on new/ongoing projects, coal mining projects, renovation and modernization of power stations and for other permissible end uses.

The board of directors has approved the proposal to issue Notes up to Rs 5000 crore (Rupee denominated bonds) and/or upto $750 million equivalent (foreign currency bonds other than Rupee denominated) in the international markets either under the MTN programme or on standalone basis, in one or more tranches on the terms and conditions as may be agreed with the prospective investor(s) to finance the capital expenditure of new/ongoing projects, coal mining projects, renovation and modernization of power stations and/or for such other purposes as permissible under the ECB guidelines of the RBI. The announcement was made after market hours yesterday, 19 April 2017.

Jaypee Infratech issued clarification to the stock exchanges with regard to media news titled YEIDA asks Jaypee to pay Rs 90 crore by April 15. The company said the news item does not belong to the company nor have it received any notice from the Yamuna Expressway Industrial Development Authority (YEIDA) for any such payment.

The project belongs to its holding company, Jaiprakash Associates (JAL), Jaypee Infratech said. Further, Jaypee Infratech said it is in the process of taking up the matter with the YEIDA. The company added that it is making its sincere efforts to complete and deliver the projects to the buyers and is in touch with them. Necessary funds required for the working capital have already been tied up with banks and the work on various projects will commence soon, Jaypee Infratech said in a filing to the BSE. The announcement was made after market hours yesterday, 19 April 2017.

GRP said it has signed a manufacturing and supply agreement with a USA based company. The agreement is for exclusive manufacture, process and supply of composite products. The manufacturing facility will be set up at one of the existing GRP plants in Maharashtra and is expected to commence before end of this fiscal year. Investment in the equipment for the venture is estimated at Rs 2.20 crore. The announcement was made after market hours yesterday, 19 April 2017.

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TCS in focus after announcing Q4 results
Apr 19,2017

TCS consolidated net profit as per international financial reporting standards (IFRS) fell 2.5% to Rs 6608 crore on 0.3% decline in revenues to Rs 29642 crore in Q4 March 2017 over Q3 December 2016. The board has approved final dividend of Rs 27.50 per share for the year ended 31 March 2017. The announcement was made after market hours yesterday, 18 April 2017.

Zee Entertainment Enterprises said that it has completed transaction of acquisition of 80% equity stake in Mango Networks (Mango). Mango has allotted 40,000 shares to the company. Upon such allotment, the company holds 80% stake in Mango and consequently Mango haS become a subsidiary of the company. The announcement was made after market hours yesterday, 18 April 2017.

IndusInd Bank said that the Finance Committee of the Board at its meeting held yesterday, 18 April 2017, approved the allotment of Basel III-compliant bonds in the nature of debentures aggregating Rs 1000 crore on private placement basis, towards non-equity regulatory Additional Tier I Capital (AT1 Bonds). The announcement was made after market hours yesterday, 18 April 2017.

Coal India issued clarification to the stock exchanges with respect to news appeared in media on 17 April 2017 titled 177 mines of Coal India downgraded on quality concernsn++. The company said that coal is a heterogeneous mineral, susceptible to qualitative variation particularly in Indian context because of its origin and formation. As per earlier practice, annual declaration of grade proposed by coal companies on the basis of own sample collection and analysis at government accredited laboratories, which was being approved by Coal Controller in due course.

As per statutory provisions, subject of maintenance of grades requires monitoring which is vested with Coal Controller Organization (CCO). Annual declaration of grades is a routine exercise, being carried out by coal companies as per directives and methodology prescribed by CCO, Coal India said. During FY16-17, 52 mines/seams were regarded. Again, during reassessment another 22 mines were regarded, the company said.

During FY17-18, as per directives of government, Coal Controller announced new methodology for declaration of grade. Under revised methodology, sampling and analysis of different seams/loading points was carried out through academic institutions and based on their results, CCO finalized the grades, Coal India said.

Independent certification of coal grade through CC0 and analysis through CIMFR will help Coal India to achieve consumers confidence and satisfaction besides less slippages in future, the company said. Re-calibration of entire grading methodology is also going to help government in its mission to make cheap power available to common person, it added. The announcement was made after market hours yesterday, 18 April 2017.

NBCC (India) said it has secured the total business of Rs 1877 crore in March 2017. The announcement was made after market hours yesterday, 18 April 2017.

SPML Infra said that Prime Minister Narendra Modi along with Vijay Rupani, Chief minister of Gujarat inaugurated the completion of Phase-I of SPML Infra Project - Saurashtra Narmada Avtran Irrigation (SAUNI Yojana) on 18 April 2017 in Botad, Gujarat by formally releasing Narmada water in Krushna Sagar dam.

SPML Infra has substantially completed an important irrigation project- SAUNI Yojana. The announcement was made after market hours yesterday, 18 April 2017.

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TCS in spotlight ahead of Q4 results
Apr 18,2017

IT major TCS is scheduled to release Q4 March 2017 results today, 18 April 2017.

Among other companies, Hindustan Oil Exploration Company, Omax Autos, Muthoot Capital Services and VST Industries are scheduleD to release March 2017 quarter earnings today, 18 April 2017.

Axis Bank announced that it has retained the marginal cost of funds based lending rates (MCLR) at the same levels across tenors. The banks MCLR for overnight loans will be 7.9%, for one month will be 7.9% and for three months will be 8.05%.

The MCLR on 6-month loans will be 8.15% and for one-year loans the rate would be 8.25%, the bank said. MCLR for two-year loans would be at 8.3% and loans with three-year maturity would carry an MCLR of 8.35%, the bank said. The new loans will be priced at the published interntal benchmark MCLRs as mentioned above with effect from 18 April 2017. The announcement was made after market hours yesterday, 17 April 2017.

Gruh Finances net profit rose 25.76% to Rs 110.45 crore on 13.4% rise in total income from operations to Rs 416.11 crore in Q4 March 2017 over Q4 March 2016. The announcement was made after market hours yesterday, 17 April 2017.

APL Apollo Tubes announced the launch of its new brand Apollo Coastguard, thus marking a revolutionary change in the world of galvanized steel pipes. The Apollo Coastguard pipes are made of special galvanized steel to provide excellent corrosion resistance against wind, water and road salts, making them 100% rust proof pipes to last for generations. The announcement was made after market hours yesterday, 17 April 2017.

National Fertilizers (NFL) said that it has received letter of intent (LOI) from SDSC-SHAR (Satish Dhawan Space Centre, Sriharikota) for establishing Di-Nitrogen Tetroxide (N2O4) production plant (NPP) on build, Own, operate & supply model. The project is to be set-up on build, own, operate & supply (BOOS) model at NFL Vijaipur, Guna, Madhya Pradesh. The plant capacity shall be around 1,095 metric tonnes (MT) N2O4 per annum.

The product (N2O4) shall be exclusively supplied to SDSC-SHAR under long term agreement for 25 years period. The project activities (zero date) shall start around July 2017 with a gestation period of 18 months. The estimated capex requirement shall be around Rs 350 crore. The announcement was made after market hours yesterday, 17 April 2017.

CMI said that its board of directors on 17 April 2017 approved the allotment of 2.5 lakh equity shares having face value Rs 10 each at a premium of Rs 290 per share to promoter/promoter group. The announcement was made after market hours yesterday, 17 April 2017.

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PSU OMCs in focus after fuel price hike
Apr 17,2017

Shares of public sector oil marketing companies (PSU OMCs) will be watched. Petrol price was increased by Rs 1.39 per litre while diesel was made expensive by Rs 1.04 per litre. The price of both fuels - petrol and diesel - exclude state levies - which means the actual increase in price will be more after taking into account local value-added tax (VAT) - and took effect from the midnight of 15 April and 15 April 2017.

Dr Reddys Laboratories announced that the audit of its API Srikakulam plant in Andhra Pradesh by the US Food and Drug Administration (USFDA) was completed on Friday, 14 April 2017, with no observations. The announcement was made on Friday, 14 April 2017. The market was shut on Friday, 14 April 2017, on account of public holiday.

Godrej Properties (GPL) announced that it has partnered with Taj Hotels Palaces Resorts Safaris to develop a Taj brand hotel at its flagship project, The Trees, in Vikhroli, Mumbai. The Taj at The Trees will offer approximately 150 guest rooms and suites along with dining, entertainment, and conferencing facilities. The announcement was made before trading hours today, 17 April 2017.

Aban Offshore said that Shema Renny Abraham, one of the companys promoters, sold 25,000 shares, or 0.04% equity, in the open market on 12 April 2017. Shema Renny Abraham now holds 3.90 lakh shares, or 0.67% equity, of Aban Offshore. The announcement was made after market hours on Thursday, 13 April 2017.

Net profit of Reliance Industrial Infrastructure rose 140.13% to Rs 7.30 crore on 4.70% rise in net sales to Rs 23.84 crore in Q4 March 2017 over Q4 March 2016. The result was announced on Friday, 14 April 2017. The market was shut on Friday, 14 April 2017, on account of public holiday.

On a consolidated basis, net profit of Reliance Power rose 250.77% to Rs 215.90 crore on 0.10% decline in net sales to Rs 2466.49 crore in Q4 March 2017 over Q4 March 2016. The result was announced on Friday, 14 April 2017. The market was shut on Friday, 14 April 2017, on account of public holiday.

Net profit of Bajaj Corp declined 2.93% to Rs 52.67 crore on 1.94% decline in net sales to Rs 204.21 crore in Q4 March 2017 over Q4 March 2016. The result was announced at the fag end of the trading session on Thursday, 13 April 2017. The market was shut on Friday, 14 April 2017, on account of public holiday.

Net profit of DCB Bank declined 23.98% to Rs 52.86 crore on 20.2% increase in operating income to Rs 612.64 crore in Q4 March 2017 over Q4 March 2016. The result was announced on Friday, 14 April 2017. The market was shut on Friday, 14 April 2017, on account of public holiday.

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JSW Steel in spotlight after raising $500 million through unsecured notes
Apr 13,2017

JSW Steel said it has raised $500 million by allotment of fixed rate senior unsecured notes in accordance with Regulation S of the US Securities Act, 1933 and applicable Indian regulations. The notes will be listed on Singapore Exchange Securities Trading. The announcement was made after market hours yesterday, 12 April 2017.

IT major Infosys will announce Q4 March 2017 result today, 13 April 2017.

Cipla announced that its wholly-owned subsidiary, Cipla Medpro South Africa, completed acquisition of Anmaratn++ on 12 April 2017. The announcement was made after market hours yesterday, 12 April 2017.

Cera Sanitaryware said it has received CRISIL A1+ rating for the companys Rs 30 crore short term debt (including commercial paper). The announcement was made after market hours yesterday, 12 April 2017.

Karnataka Bank appointed Mahabaleshwara M S, presently the Chief General Manager of Karnataka Bank as Managing Director and Chief Executive Officer (MD & CEO) of the bank for a period of three years from the date of assuming charge, as per the approval received from Reserve Bank of India. He is succeeding P Jayarama Bhat, who has since assumed charge as part-time, non-executive Chairman of the bank. The Chairmans post was vacant since 26 October 2016 on retirement of Ananthakrishna. The announcement was made after market hours yesterday, 12 April 2017.

Heritage Foods announced that it has completed acquisition of dairy business of Reliance Retail. The company said it received approval from Competition Commission of India and completed the process of acquisition of dairy business of Reliance Retail. Post the transaction closure, Reliance Retail will continue to trade in dairy products including Heritage dairy products through its retail & wholesale channels. The announcement was made after market hours yesterday, 12 April 2017.

Arshiya said it entered into a binding term sheet with Ascendas Property Fund Trustee (APFT), whereby APFT, in its capacity as Trustee-Manager of Ascendas India Trust, has agreed to acquire 6 warehouses (totaling 8,32,000 square feet) of Arshiya at its Free Trade & Warehousing Zone (FTWZ) located at Panvel, near Mumbai. The indicative gross consideration envisaged is Rs 534 crore, to be paid in two tranches; Rs 434 crore upon signing of a definitive agreement and the balance Rs 100 crore to be paid over 4 years on achieving certain milestones. The announcement was made after market hours yesterday, 12 April 2017.

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Grasim Industries in focus after ABNL merger approval
Apr 12,2017

Grasim Industries will be watched. The shareholders of Grasim, Aditya Birla Nuvo (ABNL) and Aditya Birla Financial Services (ABFSL) at their meetings held on 6 and 10 April 2017, respectively have approved the scheme of amalgamation of ABNL with Grasim followed by the demerger and listing of the financial services business, in line with the NCLT order and the Sebi requirements. The announcement was made after market hours yesterday, 11 April 2017.

Tech major Wipro said it has completed the acquisition of Brazilian IT service provider InfoSERVER. The impact of the buyout will reflect in the financials of the company from the Q1 June 2017, it added. In January this year, Wipro signed an agreement to acquire InfoSERVER, an IT service provider focused on the Brazilian market for $8.7 million. The announcement was made after market hours yesterday, 11 April 2017.

Tata Power Company will be in focus. The company announced after market hours yesterday, 11 April 2017, that the Supreme Court on Tuesday, 11 April 2017, conveyed its judgment on the Compensatory Tariff mailer on the Mundra Ultra Mega Power Projects (UMPP). The order verbally conveyed set aside the previous favourable order of Appellate Tribunal for Electricity (APTEL) which had allowed compensatory tariff on account of Forced Majeure conditions at Indonesia. It did not mention about the use of Regulatory Powers of the Central Electricity Regulatory Commission (CERC) in adjudicating compensatory tariff as per previous order. The final order has got uploaded in the evening and the company is studying the same. The company will continue to pursue all alternatives options at Coastal Gujarat Power (CGPL), including sourcing of competitive coal from other relevant geographies as also use low grade and blended coal options to contain the onslaught of under recovery at Mundra UMPP.

Reliance Industries (RIL) will be watched. RILs subsidiary, Reliance Jio Infocomm (Jio) announced that the Jio Summer Surprise has been fully withdrawn, following the advice of Telecom Regulatory authority of India (TRAI). Jio further announced new all unlimited plans with special benefits, exclusively for its Jio Prime members and aimed at encouraging Jio subscribers to live the Digital Life without restrictions - Jio Dhan Dhana Dhan! The plans start with the most affordable Rs. 309 all unlimited plan, which provides unlimited SMS, calling and data (1GB per day at 4G speed) for 3 months on first recharge. The company also announced the Rs 509 all unlimited plan for daily high data users offering unlimited SMS, calling and data (2GB per day at 4G speed) for 3 months on first recharge. The announcement was made after market hours yesterday, 11 April 2017.

Vedanta and Cairn India announced after market hours yesterday, 11 April 2017, that the merger of Cairn India with Vedanta pursuant to the scheme of arrangement has become effective. Thursday, 27 April 2017 has been fixed as the record date for determining the list of the shareholders of Cairn India to whom the equity and preference shares of Vedanta will be allotted as per terms of the scheme. Shareholders of Cairn India will receive, for each equity share held, one equity share in Vedanta of face value Rs 1 each and four 7.5% redeemable preference share (RPS) in Vedanta with a face value of Rs 10 each.

Cairn India shareholders as on said record date, who will become shareholders of Vedanta, would also receive an interim dividend of Rs 17.70 per equity share as approved by the board of Vedanta on 30 March 2017. No shares will be issued to Vedanta or any of its subsidiaries for their shareholding in Cairn India. Vedanta will arrange for a third-party facility enabling a cash exit for RPS holders at par within 30 days from issuance.

This merger consolidates Vedantas position as one of the worlds largest diversified natural resources companies, with world-class, low-cost assets in metals & mining and oil & gas. The merged company will have a larger pro forma market capitalisation of $15.60 billion, and higher free float of 49.9%.

NBCC (India) announced that its subsidiary, Hindustan Steelworks Construction (HSCL), as on 1 April 2017, had an order book of Rs 8000 crore (approximately). For the financial year 2015-2016, the companys total revenue and net profit was Rs 1416 crore (approximately) and Rs 30.19 crore respectively. Presently, HSCL is a debt free company. The announcement was made after market hours yesterday, 11 April 2017.

Jammu & Kashmir Bank said that its board will meet on Saturday, 15 April 2017 to consider preferential issue of equity shares for an amount of Rs 282 crore to the Government of Jammu & Kashmir, the promoter and majority shareholder of the bank. The board will also consider rising funds through allotment of unsecured, redeemable, subordinated, non convertible, Basel III Compliant Tier 2 Bonds in the nature of debentures/bonds aggregating to Rs 1000 crore. The announcement was made after market hours yesterday, 11 April 2017.

Pincon Spirit announced that its board at a meeting held on 11 April 2017, approved a proposal to raise funds through issue of up to 57.06 lakh equity share warrants on preferential basis to Monoranjan Roy, Aptex Enterprises, K.D. Liquor & Fertilizer, Majestic Bottlers, Priya Purnima Credits, Westwell Iron & Steel, Maa Tarini Natural Resources, Sudarshan Commtrade, Ecospace Infotech and Pincers Commodities. The announcement was made after market hours yesterday, 11 April 2017.

Fag Bearings India turns ex-dividend today, 12 April 2017, for dividend of Rs 12 per share for the year ended 31 December 2016.

KSB Pumps turns ex-dividend today, 12 April 2017, for dividend of Rs 5.50 per share for the year ended 31 December 2016.

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Suzlon in spotlight after winning repeat order
Apr 11,2017

Suzlon Energy said it has won a repeat order of 50.40 megawatts (MW) wind power project in Karnataka from a leading IPP company. The announcement was made after market hours yesterday, 10 April 2017. The project will be completed by June 2017. Suzlon will execute the entire project on a turnkey basis and will also provide operation and maintenance services.

Majesco announced that a tier two specialty insurer renewed its application management services agreement with Majesco for three years to support a number of key operational systems. The insurer is focused on specialty related insurance in the US. The agreement will provide the insurer end to end support of some of their key operational systems for three years. The application management services are part of Majescos ADM services. The insurer has been a long-term strategic client of Majesco. The announcement was made after market hours yesterday, 10 April 2017.

Indiabulls Ventures said it has allotted an aggregate of 3.36 crore fully paid up equity shares to promoter group entities of the company, upon exercise/conversion of equivalent number of warrants. The announcement was made after market hours yesterday, 10 April 2017.

Hindustan Composites said its board at a meeting held on 10 April 2017, considered a proposal for 2-for-1 stock split. The board decided to seek shareholders approval through postal ballot process for the stock split proposal. The announcement was made after market hours yesterday, 10 April 2017.

Capital First said the meeting of the debenture committee of the board of directors of the company will be held on Thursday, 13 April 2017, inter-alia, to consider the private placement of rated, listed, secured/unsecured/perpetual, redeemable, non-convertible securities in the nature of debentures to be listed on the debt market segment of National Stock Exchange of India. The announcement was made after market hours yesterday, 10 April 2017.

Redington (India) announced that its overseas step down subsidiary, Arena Bilgisayar Sanayi Ve Ticaret A.S sold its entire holding of 51% in its subsidiary, Adeo Bilisim Danismanlik Hizmetleri San ve Tic AS, Turkey, for $1.65 million. The announcement was made after market hours yesterday, 10 April 2017.

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Maruti Suzuki in focus after good production in March
Apr 10,2017

Maruti Suzuki India said its total production rose 10.29% to 1.53 lakh units in March 2017 over March 2016. The announcement was made after market hours on Friday, 7 April 2017.

L&Ts board at a meeting held on Friday, 7 April 2017, approved appointment of A. M. Naik as the Non-Executive Chairman of the company with effect from 1 October 2017 for a period of three years, immediately upon his retirement as the Executive Chairman on 30 September 2017. The board also approved appointment of S. N. Subrahmanyan as the Chief Executive Officer & Managing Director with effect from 1 July 2017. The announcement was made after market hours on Friday, 7 April 2017.

Central Bank of India said that a meeting of the capital raising committee of the board of directors of the bank will be held on 12 April 2017 to consider and approve raising of equity capital by conversion of entire innovative perpetual debt instruments (IPDI) capital of Rs 583 crore (5,830 IPDI of Rs 10 lakh each) held by Government of India, by allotment of equity shares of the face value of Rs 10 each at such conversion price including premium per equity share as may be determined as per SEBI (ICDR) Regulations, to Government of India on preferential basis. The announcement was made after market hours on Friday, 7 April 2017.

IndusInd Bank said it has recently inaugurated its first branch in Gaya, Bihar. With the inauguration of this branch, the bank now has 18 branches in Bihar. The announcement was made after market hours on Friday, 7 April 2017.

Apollo Tyres announced about the inauguration and commencement of commercial production at its manufacturing facility in Hungary with effect from 7 April 2017. Onkar S Kanwar, Chairman, Apollo Tyres said, this facility will help the company further increase its presence and market share in Europe. The announcement was made after market hours on Friday, 7 April 2017.

Indiabulls Housing Finance said it allotted its sixteenth tranche of secured, redeemable, non-convertible debentures (NCDs) of face value Rs 10 lakh each aggregating to Rs 43 crore. The announcement was made after market hours on Friday, 7 April 2017.

Brigade Enterprises announced the launch of Brigade Buena Vista, a luxury apartment project off Old Madras Road near Budigere Cross, Bengaluru. Brigade Buena Vista consists of 4 elegant residential towers spread across 7 acres, large parts of which are reserved for green, open spaces. The project is strategically located with excellent 3-way connectivity to Whitefield, Central and North Bengaluru and offers a strategic mix of accessibility and convenient living. The announcement was made after market hours on Friday, 7 April 2017.

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RIL in focus as Reliance Jio to withdraw Summer Surprise offer
Apr 07,2017

Reliance Industries (RIL) will be watched. The company said that the Telecom Regulatory Authority of India (TRAI) has advised Reliance Jio Infocomm (Jio) to withdraw the 3 months complementary benefits of Jio Summer Surprise. Jio accepted this decision. It is in the process of fully complying with the regulators advice, and will be withdrawing the 3 months complimentary benefits of Jio Summer Surprise as soon as operationally feasible, over the next few days.

However, all customers who have subscribed to Jio Summer Surprise offer prior to its discontinuation will remain eligible for the offer, RIL said. The announcement was made after market hours yesterday, 6 April 2017.

GE Power India said it was awarded a contract worth approximately Rs 237.60 crore (approximately $35.40 million) by GE Power AG to supply 1x150 megawatts (MW) CFB Boiler and Electrostatic Precipitator Components. The companys scope of work consists of majorly supply of CFB boiler components including steel structure, pressure parts, all auxiliaries, duct work, refractory, electrical & instrumentation etc. and electrostatic precipitator components including steel structure, ducting etc. The announcement was made after market hours yesterday, 6 April 2017.

Karur Vyasya Bank announced lending rates based on marginal cost of funds to be effective from 7 April 2017. The banks Marginal Cost of Funds based Lending Rate (MCLR) for overnight loans will be 9.10%, for one month will be 9.10% and for three months will be 9.10%. The MCLR on 6-month loans will be 9.30% and for one-year loans the rate would be 9.50%, the bank said. The announcement was made after market hours yesterday, 6 April 2017.

Gammon Infrastructure Projects, through amendment agreement, 2.43 crore equity shares, or 24% stake, in ICTPL from Noatum Ports, S. L., Spain for an aggregate consideration of Rs 15 crore. Upon acquisition, ICTPL has become subsidiary of Gammon Infrastructure Projects with increased shareholding from 50% to 74% in the paid up equity share capital of ICTPL. The announcement was made after market hours yesterday, 6 April 2017.

Dynamatic Technologies said that on 6 April 2017 a cooperation agreement was signed between Magal Security Systems (Magal-S3), an Israeli company and Dynamatic Technologies (DTL). With this arrangement Magal-S3 will cooperate with DTL to pursue integrated security projects in India. The announcement was made after market hours yesterday, 6 April 2017.

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Interest rate sensitives in spotlight on RBI policy
Apr 06,2017

Interest rate sensitive auto, banking and realty stocks will be watched ahead of the Reserve Bank of Indias (RBI) monetary policy meeting today, 6 April 2017. The RBI had left its key repo rate unchanged at 6.25% for the second time at its February 2017 meeting. Purchases of automobiles, including that of cars, utility vehicles and commercial vehicles are substantially driven by financing. Purchases of both residential and commercial property are largely driven by finance.

IndusInd Bank said it proposes to raise funds by issue and allotment of rated, listed, non-convertible, perpetual, subordinated and unsecured basel III compliant bonds in the nature of debentures towards non-equity regulatory additional tier I capital (AT1 Bonds), for face value of Rs 10 lakh each for cash aggregating to Rs 1000 crore on private placement basis. The announcement was made after market hours yesterday, 5 April 2017.

Mahindra & Mahindra (M&M) announced that its Farm Equipment Sector (FES) launched Mahindra JIVO. A new age, superior technology small tractor platform in the sub 25 horsepower (HP) category, the Mahindra JIVO is suitable for row crop and horticulture farming. The tractor is available in the 4 wheel drive (WD) version with engine power of 24HP and power take-off (PTO) of 22HP. It will be sold in the states of Maharashtra and Gujarat from 25 April 2017 at a starting price of Rs 3.90 lakh for the 4WD model, ex-showroom Maharashtra. The announcement was made after market hours yesterday, 5 April 2017.

Repco Home Finance said its board will meet on 11 April 2017, to consider a proposal to raise Rs 272 crore by issuing secured, redeemable, non-convertible, non-cumulative, taxable debentures to International Finance Corporation on private placement basis. The announcement was made after market hours yesterday, 5 April 2017.

Bank of India said it will hold an extraordinary general meeting (EGM) of shareholders on 4 May 2017 for their approval for issuing share capital by way of preferential issue to Government of India. The announcement was made after market hours yesterday, 5 April 2017.

Reliance Defence and Engineering scheduled a board meeting on Tuesday, 11 April 2017, to consider rights issue of equity shares upto Rs 1200 crore, which was approved at the board meeting held on 22 April 2016. The announcement was made after market hours yesterday, 5 April 2017.

Canada Pension Plan Investment Board (CPPIB) has on 5 April 2017, executed a Share Subscription and Purchase Agreement (SSPA) and Shareholders Agreement (SHA) with ISMDPL and the Phoenix Mills. Pursuant to the execution of the agreements, CPPIB proposes to invest in the equity share capital of ISMDPL in multiple tranches. CPPIB shall, in the first tranche, subject to fulfilment of the conditions precedent in the agreements, acquire 30% equity shareholding in ISMDPL through a combination of fresh equity subscription in ISMDPL and secondary transfer of equity shares held by the company in ISMDPL. Post the completion of first tranche investment by CPPIB, the company and CPPIB shall hold 70% and 30% respectively, of the paid up equity share capital of ISMDPL. The announcement was made after market hours yesterday, 5 April 2017.

Great Eastern Shipping Company announced that GGOS Labuan, a step-down subsidiary of the company, has been struck off from the registry under the provisions of the Labuan Companies Act, 1990 with effect from 4 March 2017. The announcement was made after market hours yesterday, 5 April 2017.

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Shankara Building Products in focus on debut
Apr 05,2017

Shares of Shankara Building Products will debut on the bourses today, 5 April 2017. The initial public offer (IPO) of Shankara Building Products received bids for 22.17 crore shares compared to 52.94 lakh shares on offer. The IPO was subscribed 41.88 times. The IPO opened on 22 March 2017 and closed on 24 March 2017. The issue price was fixed at top end of the price band of Rs 440 to Rs 460 per share.

The qualified institutional buyers (QIBs) category was subscribed 51.62 times. The non institutional investors category, made up of high net-worth individuals, was subscribed 90.68 times. The retail individual investors (RIIs) category was subscribed 15.35 times.

Shankara Building Products is one of the leading organized retailers of home improvement and building products in India, operating under the trade name, Shankara BuildPro, since the past two decades.

Dr Reddys Laboratories will be watched. With reference to a news item captioned, US FDA started Srikakulam inspection on March 27, 2017. No major observation from US FDA yet on Srikakulam plant, the company clarified that the reports being flashed by some media are speculative and unverified.

The company has not issued any statement as the audit is still in progress. The company said it regularly informs all concerned on material events and presently does not have any other information which is material to the companys operations or consolidated results. The clarification was issued after market hours on Monday, 3 April 2017.

NTPC said that Unit 2 of 250 megawatts (MW) of Bhartiya Rail Bijlee Company (BRBCL-a subsidiary of NTPC) has been commissioned on 3 April 2017. Further, NTPC has also commissioned its first wind turbine of 2 MW at Rojmal Wind Power Project (50 MW). With this, the commissioned capacity of NTPC and NTPC group has become 43534 MW and 50750 MW respectively. The announcement was made on Tuesday, 4 April 2017, when the stock markets were shut on account of local holiday.

The Committee of Directors of IL&FS Transportation Networks had approved on 31 March 2017, the allotment of 7,500 Rated, Listed, Redeemable, Non-Convertible Debentures of the face value of Rs 10,00,000 aggregating to Rs 750 crore on a private placement basis. The announcement was made on Tuesday, 4 April 2017, when the stock markets were shut on account of local holiday.

TVS Motor Company said its total sales rose 10% to 2.56 lakh units in March 2017 over March 2016. Total two-wheeler sales increased by 10.7% to 2.50 units in March 2017 over March 2016. Total three-wheeler sales fell 8.72% to 5,362 units in March 2017 over March 2016. Total exports grew 23.6% to 38,462 units in March 2017 over March 2016. The announcement was made after market hours yesterday, 3 April 2017.

Further, the company informed that it had commenced manufacture and sale of BS IV compliant inventory much before the transition date of 31 March 2017. Consequently, the stocks of BS III compliant products with the dealers were progressively coming down. However, on 29 March 2017 by its order, the Supreme Court of India permitted sale of such BS III emission compliant products only up to 31 March 2017. Accordingly, the company within the framework provided by the court order extended suitable required support to the dealers to enable them to offer attractive incentive schemes to customers to sell the BS III compliant stocks. The dealers have confirmed that majority of such stocks have been sold by 31 March 2017. The company is assessing the one-time impact of this transition on the financials of the company.

NMDC kept its iron ore prices unchanged in April 2017 compared with March 2016. NMDC said its lump ore prices were constant at Rs 2425 per wet metric tonne (WMT) in April 2017. Price of fines were constant at Rs 2185 per WMT in April 2017. The announcement was made after market hours yesterday, 3 April 2017.

MEP Infrastructure Developers said it entered into memorandum of understanding (MoU) with CIDB Holdings SDN BHD, a fully-owned subsidiary of the Construction Industry Development Board (CIDB Malaysia), to strengthen, promote and develop their cooperation by knowledge sharing and introducing best practices towards joint development of sustainable highway and expressways projects in India and related investments. The activities mentioned above may be carried out in India or any other country as may be mutually agreed upon. The announcement was made after market hours yesterday, 3 April 2017.

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Auto stocks in focus after declaring monthly sales volume data
Apr 03,2017

Maruti Suzuki Indias total sales rose 8.1% to 1.39 lakh units in March 2017 over March 2016. The companys total domestic sales rose 7.7% to 1.27 lakh units in March 2017 over March 2016. Exports grew by 12.6% to 11,764 units in March 2017 over March 2016. The announcement was made on Saturday, 1 April 2017.

Mahindra & Mahindras (M&M) total auto sales rose 6% to 56,031 units in March 2017 over March 2016. M&Ms total tractor sales rose 32% to 19,337 units in March 2017 over March 2016. The announcement was made on Sunday, 1 April 2017.

Tata Motors passenger and commercial vehicle total sales rose 8% to 57,145 vehicles in March 2017 over March 2016. The announcement was made on Saturday, 1 April 2017.

SML Isuzus sales rose 26.4% to 2,094 units in March 2017 over March 2016. The announcement was made on Sunday, 1 April 2017.

Shares of public sector oil marketing companies (PSU OMCs) will be in focus after Indian Oil Corporation (IOCL) on Friday, 31 March 2017, announced reduction in selling price of petrol and diesel with effect from midnight of 31 March 2017. Petrol price was decreased by Rs 3.77 per litre and diesel price was reduced by Rs 2.91 a litre at Delhi (excluding state levies).

Indiabulls Housing Finance said that it has on Friday, 31 March 2017, allotted its fourteenth tranche of secured, redeemable, non-convertible debentures (NCDs) aggregating to Rs 37.5 crore. This was part of the companys proposal announced in November 2016, to issue, secured, redeemable, NCDs aggregating Rs 6000 crore, on a private placement basis. The announcement was made after market hours on Friday, 31 March 2017.

Everest Kanto Cylinder has entered into the Asset Purchase Agreement with SNF Flopam India to sell companies land, building and electric installations in Gandhidham, Gujarat for consideration of $29 million. The expected date of completion of sale would be 30 April 2017. The announcement was made after market hours on Friday, 31 March 2017.

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Berger Paints in focus after commencing production at Assam plant
Mar 31,2017

Berger Paints India said it has commenced commercial production of its integrated paint and putty plant at Naltali, Nagaon, Assam on 30 March 2017. The plant has an annual capacity of 48,000 KL/MT per annum of water based paints, 24,000 KL of solvent based paints, 14,000 MT of Resin and 24,000 MT of wall putty. Thus, Berger Paints India has now commenced production at two of its plants in Assam - one for the Berger Division at Naltali and the other for the British Paints Division at Nalbari. The announcement was made after market hours yesterday, 30 March 2017.

NTPC said that consequent upon testing and commissioning, 260 megawatts (MW) capacity (4x65 MW) of Bhadla solar PV project at Bhadla Rajasthan, is declared on commercial operation on 25 March 2017. With this, the commercial capacity of NTPC and NTPC group has become 40,522 MW and 47,293 MW respectively. The announcement was made after market hours yesterday, 30 March 2017.

TCS said that the company has collaborated with SATS, Asias leading provider of airport ground handling and food solutions services, to develop a smart watch solution that is believed to be the worlds first mobile solution for airport Technical Ramp operations. The Technical Ramp Smart Watch solution is now supporting SATS operations at Singapores Changi Airport, a leading global hub of travel, technology adoption and efficiency. The announcement was made after market hours yesterday, 30 March 2017.

Jindal Steel & Power (JSPL) said its board at a meeting held yesterday, 30 March 2017, approved issue of 4.80 crore convertible warrants to Opelina Finance and Investment, a promoter group entity on preferential basis, subject to the approval of the shareholders of the company and other necessary regulatory approvals. The board also approved the issue of 14.20 lakh equity shares to Nalwa Steel & Power on preferential basis, subject to the approval of the shareholders of the company and other necessary regulatory approvals. The announcement was made after market hours yesterday, 30 March 2017.

State Bank of Travancore (SBT) said it has allotted Basel III compliant Additional Tier 1 Bonds aggregating to Rs 300 crore, for inclusion in Tier 1 Capital of the bank, on private placement basis with call option on 30 March 2022. The coupon rate is 9% per annum. The announcement was made after market hours yesterday, 30 March 2017.

Central Bank of India said that the capital raising committee of the board of directors of the bank at its meeting held on 30 March 2017, approved raising of equity capital by conversion of entire IPDI capital of Rs 583.00 crore held by Government of India (GoI), into equity shares to be issued and allotted to GoI on preferential basis, at such conversion price as may be determined as per SEBI ICDR Regulations subject to requisite approvals. The announcement was made after market hours yesterday, 30 March 2017.

Bharat Financial Inclusion said it has assigned a pool of receivables of an aggregate value of Rs 192.58 crore to one of the largest public sector banks on a direct assignment basis as per the guidelines prescribed by the Reserve Bank of India. This is the third direct assignment transaction during FY17. The aggregate value of the three direct assignment transactions is Rs 778.09 crore. The announcement was made after market hours yesterday, 30 March 2017.

Indiabulls Housing Finance said it has allotted its twelfth and thirteenth tranche of secured, redeemable, non-convertible debentures aggregating to Rs 485 crore. The announcement was made after market hours yesterday, 30 March 2017.

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RIL in focus after completing stake sale in GAPCO
Mar 30,2017

Reliance Industries (RIL) will be in spotlight. Pursuant to the sale agreements signed by Reliance Exploration & Production DMCC (REPDMCC), an indirect wholly owned subsidiary of RIL and TOTAL, for the sale of the entire 76% interest held by REPDMCC in the Mauritius-incorporated Gulf Africa Petroleum Corporation (GAPCO), REPDMCC, TOTAL and GAPCO have obtained requisite regulatory approvals, consents and successfully completed the sale transaction.

GAPCO is a holding company with operating subsidiaries in Tanzania, Kenya and Uganda which are primarily engaged in petroleum product import, and trading, storage, distribution, marketing, supply and transportation of oil products in East Africa.

Since the acquisition of 76% equity interest in GAPCO by REPDMCC in 2007, GAPCO has significantly grown and is one of leading petroleum marketing company in East Africa owning retail outlets as well as onshore and offshore terminals.

REPDMCCs sale of its interest in GAPCO is pan of a joint transaction, wherein REPDMCC as well as the minority shareholder have sold their entire respective holdings in GAPCO for cash. The announcement was made after market hours yesterday, 29 March 2017.

Bharti Airtel announced that it has completed sale of 11.32% stake in its mobile tower arm Bharti Infratel to its wholly-owned subsidiary Nettle Infrastructure. Post the inter-se transfer, Bharti Airtel will hold 50.33% while Nettle will hold 11.32% in Bharti Infratel. The announcement was made after market hours yesterday, 29 March 2017.

Punjab National Bank (PNB) announced that it has raised Rs 250 crore through unsecured, subordinated, fully paid-up, non-convertible, Basel III compliant, perpetual debt instruments (series X) in the nature of debentures for inclusion in additional tier I capital. The coupon rate is 9.21% payable annually. The announcement was made after market hours yesterday, 29 March 2017.

Union Bank of India announced that it has issued 2,500 non-convertible, unsecured subordinated Basel III Compliant perpetual debt instruments aggregating to Rs 250 crore, eligible for inclusion in Additional Tier 1 (AT1) Capital. The bonds were issued on private placement basis. They carry a coupon rate of 9.1% per annum payable annually.

The AT1 bonds are rated BWR AA+/Stable by Brickwork Rating India (Brickwork) and IND AA by India Ratings and Research (India Ratings). The announcement was made after market hours yesterday, 29 March 2017.

Alkem Laboratories said that the United States Food and Drug Administration (USFDA) has issued an Establishment Inspection Report (EIR) for the companys active pharmaceutical ingredient (API) manufacturing facility located at Ankaleshwar, which was inspected in December 2016.

The inspection has now been closed by the USFDA. In response to the Form 483 issued by the USFDA, the company had submitted a detailed corrective and preventive action (CAPA) plan to the regulator within the stipulated timelines. The USFDA has reviewed the CAPA and has found them acceptable. The announcement was made after market hours yesterday, 29 March 2017.

Bharat Financial Inclusion said it has completed a securitization transaction for a pool amount of Rs 223.42 crore. With this, the company has completed four securitization transactions aggregating to Rs 1075.86 crore in FY17. The entire pool qualifies for Priority Sector treatment as per the Reserve Bank of Indias Priority Sector lending guidelines.

The pool has been rated AA (SO) by a leading rating agency, signifying a high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk. The announcement was made after market hours yesterday, 29 March 2017.

Auto stocks will be watched after the Supreme Court yesterday, 29 March 2017, passed an order for ban on sale of vehicles that do not meet BS IV emission standards on and from 1 April 2017.

In this context, Hero MotoCorp, the leading two-wheeler manufacturer, said that, recognizing the need of the hour, it carefully planned a proactive move to switch from BS III to BS IV compliant products across all its range well in time and has been producing only BS IV compliant products since one month before the given deadline.

Hero MotoCorp said it has reduced its BS III inventory significantly in the past few months with the aim to minimize its stakeholder losses. However, environmental protection will take precedence over temporary financial benefits, it added. The announcement was made after market hours yesterday, 29 March 2017.

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