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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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GAIL (India) may advance after strong Q2 results
Nov 16,2016

GAIL (India)s net profit surged 179.84% to Rs 924.65 crore on 15.54% decline in total income to Rs 12194.25 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 15 November 2016. Net profit was boosted by a turnaround in its petrochemical business and reduction in interest costs. The companys profit before tax (PBT) surged 151% to Rs 1375 crore in Q2 September 2016 over Q2 September 2015. The companys net profit rose 9% to Rs 924.65 crore in Q2 September 2016 over Q1 June 2016 (excluding the gains from stake sale in Mahanagar Gas), largely on account of better performance in natural gas transmission and petrochemical segment.

During the quarter, GAIL (India)s petrochemical business has seen a turnaround with sales jumping 61% on year-on-year basis. This has resulted increase in revenue in this segment by 53% to Rs 1358 crore and the profit stood at Rs 104 crore in Q2 September 2016 as against loss of Rs 364 crore in Q2 September 2015. The increase in net profit during Q2 September 2016 on year on year basis, was also supported by increase in natural gas marketing & transmission volumes by 8% and 12% respectively and liquid hydrocarbon sales by 9%.

Shares of public sector oil marketing companies (PSU OMCs) will be in focus after Indian Oil Corporation (IOCL) announced reduction in selling price of petrol by Rs 1.46 per litre (excluding state levies) and reduction in selling price of diesel by Rs 1.53 per litre (excluding state levies) with effect from midnight of 15/16 November 2016. The announcement was made after market hours yesterday, 15 November 2016. The current level of international product prices of petrol and diesel and INR-USD exchange rate warrant decrease in selling price of petrol and diesel, the impact of which is being passed on to the consumers with this price revision, IOCL said. The movement of prices in the international oil market and INR-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes, the company said.

ABB India announced after market hours yesterday, 15 November 2016, that ABB has won an order from Alstom to supply 1600 traction transformers for 800 new electric freight locomotives in India. The transformers will be manufactured locally in ABBs Vadodara facility in Gujarat, supporting the governments Make in India initiative to encourage manufacturing in the country. ABB will supply 25 kilovolt (kV)/50 hertz (Hz) underframe traction transformers for the 800 locomotives (2 units per locomotive). The compact transformers are designed for the most demanding conditions, including extreme temperatures and voltage fluctuations. They will support heavy freight loads over long distance haulage under rigorous conditions, including steep inclines.

HDFC announced after market hours yesterday, 15 November 2016, that it intends to raise Rs 2000 crore from issue of non-convertible debentures on private placement basis. The debentures will carry a coupon rate of 7.72% per annum and will have a tenor of 10 years.

Wipro and ASG Technologies, a global provider of information access, management and control solutions, announced an expanded partnership that integrates the offerings of Wipros Data Management Centre of Excellence (CoE) with ASGs Enterprise Data Intelligence solution to improve compliance for the global financial services companies. The announcement was made after market hours yesterday, 15 November 2016.

Wheels India said that the company has entered into a technology transfer agreement with FLUITECNIK, S.An++ Spain for the manufacture of hydraulic components for supply to wind mill manufacturers in India. The announcement was made after market hours yesterday, 15 November 2016.

Tata Global Beverages consolidated net profit surged 60.10% to Rs 139.62 crore on 2.69% fall in total income to Rs 1656.91 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 15 November 2016.

Shree Renuka Sugars reported net profit of Rs 2.50 crore in Q2 September 2016 as compared with net loss of Rs 151.20 crore in Q2 September 2015. Total income jumped 110.03% to Rs 2033.10 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 15 November 2016.

Vardhman Textiles net profit surged 231.35% to Rs 454.01 crore on 22.88% rise in total income to Rs 1815.90 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 15 November 2016.

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Tata Motors in focus after declaring turnaround Q2 outcome
Nov 15,2016

Tata Motors reported consolidated net profit of Rs 848.16 crore in Q2 September 2016 as compared with net loss of Rs 1740.20 crore in Q2 September 2015. Total income rose 7% to Rs 66,106.96 crore in Q2 September 2016 over Q2 September 2015. The result was announced on Monday, 14 November 2016, when the stock market was closed for a public holiday.

GAIL (India) will announce its Q2 September 2016 results today, 15 November 2016.

Tata Steel reported consolidated net loss of Rs 49.38 crore in Q2 September 2016 compared with consolidated net profit of Rs 5609.43 crore in Q2 September 2015. Total income fell 0.01% to Rs 27579.57 crore in Q2 September 2016 over Q2 September 2015. The result was announced was announced after market hours on Friday, 11 November 2016.

Aurobindo Pharmas consolidated net profit rose 33.53% to Rs 605.64 crore on 12.03% rise in total income to Rs 3783.73 crore in Q2 September 2016 over Q2 September 2015. The result was announced on Monday, 14 November 2016.

Bharat Petroleum Corporations (BPCL) net profit rose 26.16% to Rs 1305.18 crore on 2.67% fall in total income to Rs 45715.06 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours on Friday, 11 November 2016.

Seperately BPCL after market hours on Friday, 11 November 2016 announced formation of Joint Venture with GAIL Gas for a City Gas Distribution (CGD). Consortium of BPCL and GAIL Gas has been awarded the authorization for laying, building, operating and expanding of a City Gas Distribution Network (CGD Network) in the geographical area of North Goa by the Petroleum and Natural Gas Regulatory Board established under the PNGRB Act, 2006. The board of directors of the company has approved the proposal to form a new Joint Venture Company (JVC) for this purpose, BPCL said. The proposed JVC shall have equal equity participation from BPCL and Gail Gas and with a provision for equity stake of up to 10% for government of Goa or its nominee. The authorization provides exclusively for laying gas pipelines and related infrastructure in the GA over the next 25 years and a marketing exclusivity for 5 years. The CGD Network shall cater to the demand of CNG and Piped Natural Gas to consumers in the domestic, commercial and industrial segments.

Hindalco Industries net profit surged 256.18% to Rs 439.74 crore on 1.28% rise in total income to Rs 9,494.40 crore in Q2 September 2016 over Q2 September 2015. The result was announced on Saturday, 12 November 2016.

Bank of Barodas net profit net profit jumped 343.54% to Rs 552.12 crore on 2.06% decline in total income to Rs 12046.60 crore in Q2 September 2016 over Q2 September 2015. The result was announced was announced after market hours on Friday, 11 November 2016.

IL&FS Transportation Networks said that IIPL USA LLC, a wholly owned subsidiary of the company has been declared as the preferred bidder for the maintenance of 4 project highways in Dallas County, Texas USA. The combined length of the highways to be maintained is 436 Miles (698 Km) for a period of 730 days at the total contract value of $1.75 million (approx. Rs 11.65 crore). This is in continuation to the Routine Maintenance Contract awarded for Tyler District, Texas in the amount of $5.25 million (approx. Rs 35 crore). The announcement was made after market hours on Friday, 11 November 2016.

Hikal said that credit rating agency ICRA has upgraded the companys long term rating from BBB to BBB+. The outlook on long term rating is stable. ICRA has reaffirmed the short term rating of A2. The announcement was made after market hours on Friday, 11 November 2016.

MOIL said that the board of directors of the company has approved Memorandum of Understanding (MoU) signed jointly with Government of Madhya Pradesh, Mineral Resources Department and Madhya Pradesh State Mining Corporation, a PSU under Govt, of Madhya Pradesh to conduct exploration and prospecting works in Madhya Pradesh. The announcement was made after market hours on Friday, 11 November 2016.

Kingfa Science & Technology (India) said that the Maharashtra Industrial Development Corporation has handed over the possession of Plot No. F-5/5 admeasuring 120000 sq mtr of the Chakhan Industrial Area Phase -II, Village Shinde & Vasuli Tal-Khed, District - Pune to the company, for manufacturing facility. The company also has signed the lease Agreement for the land. The result was announced on Monday, 14 November 2016, when the stock market was closed for a public holiday.

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Sun Pharma may gain on strong Q2 results
Nov 11,2016

Sun Pharmaceutical Industries consolidated net profit surged 117.25% to Rs 2235.14 crore on 19.98% rise in total income to Rs 8384.52 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 10 November 2016.

Dilip Shanghvi, Managing Director of Sun Pharmaceutical Industries said that the synergies from the Ranbaxy acquisition are gaining momentum and the company is on track to achieve the targeted benefits. These synergies will continue to help in funding emerging specialty businesses. Post the close of Q2 September 2016, the company has further strengthened its branded ophthalmic pipeline through the acquisition of Ocular Technologies.

BPCL and Mahindra & Mahindra (M&M) will announce Q2 results today, 11 November 2016.

Cipla said before market hours today, 11 November 2016, that as part of its growth strategy, the board of the companys subsidiary, Cipla Quality Chemicals Industries (CiplaQCIL) is evaluating its initial public offering. The certain shareholders may consider selling down part or all of their stake to enable sufficient free flat and liquidity while Cipla group intends to continue holding the majority stake and control in CiplaQCIL.

Tata Motors said that its group global wholesales rose 9% to 1.01 lakh units in October 2016 over October 2015. The announcement was made after market hours yesterday, 10 November 2016. Global wholesales of all Tata Motors commercial vehicles and Tata Daewoo range rose 18% to 36,921 units in October 2016 over October 2015. Global wholesales of all passenger vehicles rose 4% to 64,145 units in October 2016 over October 2015.

Apollo Tyres signed a memorandum of understanding (MoU) with the Government of Andhra Pradesh government to set up a state of art manufacturing facility. The company is looking at investing about Rs 525 crore towards setting up this facility in Andhra Pradesh. The announcement was made after market hours yesterday, 10 November 2016.

NHPC said that the board of directors of the company in its meeting scheduled to be held on 18 November 2016, will consider the proposal for raising of Rs 2250 crore through issuance of n++Vn++ series corporate bonds on private placement basis. The proposed issue is out of Rs. 4500 crore already approved by the shareholders in their 40th Annual General Meeting held on 22 September 2016. The announcement was made after market hours yesterday, 10 November 2016.

Shoppers Stop said that the company has closed Shoppers Stop stores at Inorbit Mall-Pune and Nirmal Lifestyle-Mulund, due to lower than expected businesses and its low profitability. During the last financial year, sales from Inorbit Mall-Pune was Rs 24.91 crore which is 0.66% of the turnover of the company and sales from Nirmal Lifestyle - Mulund was Rs 16.67 crore which is 0.44% of the turnover of the company. With these closures, the company has now 81 n++Shoppers Stopn++ (including six airport stores) stores under its operations. And also, inform that our 51% subsidiary company; Hypercity Retail (India); has closed n++Hypercityn++ store at Inorbit Mall-Pune due to lower than expected business and its low profitability. The sale from this store for the last financial year was Rs 13.27 crore which is 1.40% of the turnover of the Hypercity. With the closing of this store, there are now 19 Hypercity stores. The announcement was made after market hours yesterday, 10 November 2016.

Jain Irrigation Systems reported consolidated net profit of Rs 28 crore in Q2 September 2016 compared with consolidated net loss of Rs 5.4 crore in Q2 September 2015. Total income rose 8.69% to Rs 1464.60 crore in Q2 September 2016 over in Q2 September 2015. The result was announced after market hours yesterday, 10 November 2016.

IFB Agro Industries announced after market hours yesterday, 10 November 2016, that West Bengal Excise Authority has increased the excise duty on Country Liquor (IMIL) with effect from 8 November 2016 vide notification dated 28 October 2016. Accordingly the company has increased the prices of its IMIL brands with requisite approval from West Bengal Excise Authority with effect from 9 November 2016.

Wockhardts consolidated net profit dropped 81.59% to Rs 17.02 crore on 6.53% rise in total income to Rs 1284.59 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 10 November 2016.

Wockhardt said that the board of directors of the company, at a meeting held on 10 November 2016, approved the acquisition of 100% stake in Wockhardt France (Holdings) S.A.S. (WFH) (an existing step down subsidiary of the company) from Wockhardt Bio AG (WBG), a subsidiary of the company. By virtue of the said acquisition, WFH shall become a direct wholly owned subsidiary of the company from erstwhile step down subsidiary. WBG continues to be a direct subsidiary of the company.

Tata Chemicals consolidated net profit rose 0.08% to Rs 293.04 crore on 17.35% decline in total income to Rs 3522.29 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 10 November 2016.

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Cipla may drop on weak Q2 outcome
Nov 10,2016

Ciplas consolidated net profit dropped 34.75% to Rs 354.34 crore on 8.39% rise in total income to Rs 3778.25 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 9 November 2016.

Cipla said that Q2 September 2016 reflected improved profitability in base business driven by better product and geography mix. The company launched 6 new products during this quarter in the US market and continues to invest in building a niche and differentiated product portfolio, Cipla said. Commenting on the results, Umang Vohra, MD and Global CEO, Cipla said that the company continues to stay focused on building operational efficiencies and strengthening presence in priority markets.

Boschs net profit rose 79.2% to Rs 703.74 crore on 9.59% rise in total income to Rs 3026.96 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 9 November 2016.

Power Grid Corporation of Indias net profit rose 32.01% to Rs 1872 crore on 29.86% rise in total income to Rs 6480.20 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 9 November 2016.

Tata Consultancy Services announcd before market hours today, 10 November 2016, that the company has received a letter dated 9 November 2016 from Tata Sons nominating Ishaat Hussain as the Chairman of the board of directors of the company in place of Cyrus P. Mistry with immediate effect. In view of this, Mistry has ceased to be the Chairman of the board of directors of the company and Hussain is the new Chairman of the company. The company has been further informed that Hussain shall hold office as Chairman of the company until a new Chairman is appointed in his place. Tata Sons has issued a special notice and a requisition for convening an extraordinary general meeting of shareholders of the company to consider a resolution for the removal of Cyrus P. Mistry as Director of the company. It may be recalled that Tata Sons, promoters of the company, had replaced Cyrus Mistry as Chairman of Tata Sons with immediate effect. Ratan Tata was appointed as Interim Chairman of Tata Sons.

HDFC announced after market hours yesterday, 9 November 2016 that the company will issue secured, senior, redeemable non-convertible debentures worth Rs 2000 crore on private placement basis on 11 November 2016. The debentures carry coupon of 7.8% and tenor of 3 years. The proceeds would be utilized for financing/refinancing the housing finance business requirements of the company.

DCM Shriram announced after market hours yesterday, 9 November 2016 that the company has on 8 November 2016 commissioned additional captive power generation capacity at its chlor-alkali unit in Bharuch (Gujarat). The total coal based captive power generation at the Bharuch (Gujarat) unit now stands at 115 megawatts (MW). The increased power generation capacity will meet the power requirements of its chloro-alkali unit at Bharuch (Gujarat) wherein the expansion of chlor-alkali capacity to 1013 tonnes per day (TPD) was completed in October 2016.

Pidilite Industries consolidated net profit rose 13.1% to Rs 231 crore on 9.1% rise in gross sales to Rs 1522 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 9 November 2016.

JK Tyre & Industries consolidated net profit dropped 13.54% to Rs 100.15 crore on 5.26% rise in total income to Rs 2077.24 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 9 November 2016.

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L&T may gain after signing long-term agreement with Chiyoda Corporation
Nov 09,2016

L&T announced after market hours yesterday, 8 November 2016, that it has signed a long-term n++Technical Licence Agreementn++ with Chiyoda Corporation for its Chiyoda Thoroughbred 121TM (CT-121TM) Flue Gas Desulphurisation (FGD) Technology. The agreement grants L&T exclusive rights to undertake EPC of CT-121TM FGD Systems. The new emission norms for coal-based thermal power plants in India, notified vide MoEFCC Gazette dated 7 December 2015, introduced new limits on sulphur dioxide (SO2) emissions. The move which makes Indian emission norms among the most stringent in the world, has called for mandatory installation of FGD systems in upcoming power plants, including those currently under construction and many that are already operational.

L&T and Chiyodas relationship dates back over two decades with L&T-Chiyoda Limited, a JV that has come to be an internationally reputed design and engineering consultancy organisation catering to the Hydrocarbon sector. Through the signing of this agreement, the two companies have extended their association into the power sector as well.

Bosch and Lupin will announce Q2 results today, 9 November 2016.

Bank stocks will be in focus after the ruling NDA government yesterday, 8 November 2016, announced that it is banning use of Rs 500 and Rs 1,000 notes, in its fight against the corruption, fake currency and black money. The legal tender character of the notes in denominations of Rs 500 and Rs 1000 stands withdrawn. In consequence thereof withdrawn old high denomination (OHD) notes cannot be used for transacting business and/or store of value for future usage. The OHD notes can be exchanged for value at any of the 19 offices of the Reserve Bank of India or at any of the bank branches or at any Head Post Office or Sub-Post Office. As soon as the announcement was made, the Reserve Bank of India came out with a ready reckoner on the governments move.

ICICI Bank clarified after market hours yesterday, 8 November 2016, on recent media reports regarding cyber-attacks that there was no breach incident within the control of the bank pertinent to this news item which would have required reporting. The incident reported relates only to a small segment of customers of the bank who used the other bank ATM.

HDFC Bank clarified after market hours yesterday, 8 November 2016, on recent media reports regarding cyber-attacks that the bank has taken appropriate steps in this regard. There has been no breach of HDFC Bank systems and the incident is an outcome of possible compromise at a third party payment processor. The impact for the bank is limited owing to various steps taken by the bank.

Repco Home Finances net profit rose 17% to Rs 45.69 crore on 20.01% rise in total income to Rs 259.74 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 8 November 2016.

InterGlobe Aviations profit after tax rose 23.6% to Rs 139.84 crore on 17.7% rise in total income from operations to Rs 4166.93 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 8 November 2016.

UFO Moviez Indias consolidated profit after tax rose 23.1% to Rs 20.30 crore on 6.9% rise in revenue to Rs 159.90 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 8 November 2016.

Tata Communications consolidated net profit fell 64.4% to Rs 39.96 crore on 1.08% decline in total income to Rs 4581.92 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 8 November 2016.

VA Tech Wabags consolidated net profit jumped 69.65% to Rs 24.04 crore on 31.05% rise in total income to Rs 777.60 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 8 November 2016.

Mangalore Refinery and Petrochemicals reported net profit of Rs 415.86 crore in Q2 September 2016 compared with net loss of Rs 913.38 crore in Q2 September 2015. Total income rose 10.61% to Rs 14082.70 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 8 November 2016.

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ICICI Bank may drop on muted growth in profitability in Q2
Nov 08,2016

ICICI Banks net profit rose 2.38% to Rs 3102.27 crore on 41.31% rise in total income to Rs 22759.08 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 7 November 2016.

Bharat Heavy Electricals (Bhel) announces Q2 results today, 8 November 2016.

State Bank of India (SBI) announced before market hours today, 8 November 2016, that a meeting of executive committee of the Central board of the bank is scheduled to be held on 10 November to examine and decide for issuance of long term bonds of Rs 5000 crore in domestic and overseas markets for financing of infrastructure and affordable housing (Infra bonds) during the year ending 31 March 2017 (FY 2017) on private placement in tranches at appropriate time.

Wipro announced after market hours yesterday, 7 November 2016, launch of its Open Banking API (Application Programming Interface) platform. The Open API platform will enable banks and financial institutions to launch Open Banking initiatives and create new forms of distribution channels and servicing capabilities, provide access to third-party application marketplaces, and comply with emerging regulatory norms through the standardization of APIs. Open Banking is an emerging trend in financial technology that uses Open APIs to enable third party developers build applications and services around a financial institution. It facilitates greater financial transparency and helps financial institutions innovate and create new revenue models. Open Banking has been gaining significant momentum across the globe, especially in the European banking industry - driven by changing regulatory mandates. Revised Directive on Payment Services (PSD2), is one such regulatory mandate that aims to standardize, integrate and improve payment efficiency in the European Union.

EID Parry India reported consolidated net profit of Rs 126.15 crore in Q2 September 2016 compared with consolidated net loss of Rs 4 crore in Q2 September 2015. Total income rose 6.66% to Rs 4757.26 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours yesterday, 7 November 2016.

Sanofi Indias net profit rose 11.17% to Rs 80.60 crore on 7.36% rise in total income to Rs 639 crore in Q3 September 2016 over Q3 September 2015. The result was announced after market hours yesterday, 7 November 2016.

GlaxoSmithkline Consumer Healthcares net profit fell 16.62% to Rs 183.72 crore on 5.69% rise in total income to Rs 1138.09 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 7 November 2016.

Ceats consolidated net profit rose 1.56% to Rs 106.92 crore on 5.3% rise in total income to Rs 1431.47 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 7 November 2016.

Varun Beverages makes its debut on the bourses today, 8 November 2016. The initial public offer (IPO) of Varun Beverages had seen moderate response from investors. The issue received bids for 3.27 crore shares compared with 1.76 crore shares on offer. The IPO was subscribed 1.86 times. The issue price is fixed at Rs 445 per share, the top end of the Rs 440 to Rs 445 per share price band for the IPO. Promoted by Ravi Kant Jaipuria, Varun Beverages is one of the largest franchisee in the world (outside USA) of carbonated soft drinks (CSD) and noncarbonated beverages (NCB) sold under trademarks owned by PepsiCo. It produces and distributes a wide range of CSD as well as a large selection of NCB including packaged drinking water.

Vijaya Bank announced after market hours yesterday, 7 November 2016, that the bank intends to raise tier 1 Capital through private placement of Basel III complaint additional tier 1 bonds of 10 lakh each at par aggregating to Rs 750 crore.

Britannia Industries consolidated net profit rose 5.79% to Rs 233.95 crore on 11.64% rise in total income to Rs 2497.27 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 7 November 2016

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PSU OMCs, auto stocks in focus after hike in fuel prices
Nov 07,2016

PSU OMCs and auto stocks will be in focus as petrol price was raised by 89 paise a litre, the sixth increase in rates since September, and diesel by 86 paise a litre, the third increase in a month with effect from 6 November 2016. The price hike announced by PSU OMCs is excluding local sales tax. After including VAT, petrol in Delhi costs Rs. 67.62 a litre up Rs. 1.17 from Rs 66.45 a litre. Similarly, diesel costs Rs 56.41 a litre after including VAT in Delhi, up Rs 1.03 as compared to Rs 55.38.

Reliance Industries (RIL) announced on Saturday, 5 November 2016 that earlier that day, constituents of the contractor (RIL, BP and Niko) for block KG-DWN-98/3 (KG D6) received a communication from the Ministry of Petroleum & Natural Gas. Based on the recommendations of the Shah Committee, the Government has made a claim of about $1.55 billion against the contractor parties in respect of gas said to have migrated from neighbouring blocks. In carrying out petroleum operations, the contractor has worked within the boundaries of the block awarded to it and has complied with all applicable regulations and provisions of the Production Sharing Contract (PSC).

The claim of the Government is based on misreading and misinterpretation of key elements of the PSC and is without precedent in the oil & gas industry, anywhere in the world, company said. According to the Government the contractor is restricted to producing only that quantity of hydrocarbon as they existed at the point in time when the PSC was signed. This approach overlooks the fundamental fact that at that stage the work of exploration of the block has not even commenced and a complete lack of data makes it impossible to estimate the quantity of hydrocarbons available in the block. The liability of the Contractor has not been established by any process known to law and the quantification of the purported claim is without any basis and arbitrary.

RIL proposes to invoke the dispute resolution mechanism in the PSC and issue a Notice of Arbitration to the Government. RIL remains convinced of being able to fully justify and vindicate its position that the Governments claim is not sustainable.

Lupin announced on Saturday, 5 November 2016 that it has received notification that the inspection carried out by the USFDA in March 2016 at its Goa facility is now closed and the agency has issued an Establishment Inspection Report (EIR). This closes all outstanding US FDA inspections at Lupins Goa facility.

Commenting on the receipt of the EIR, Vinita Gupta, Chief Executive Officer and Nilesh Gupta, Managing Director, Lupin said the company is committed to ensuring that all systems and processes followed by Lupin are compliant with cGMP and are committed to bringing quality products to market. We are grateful for the US FDAs confidence in our corrective action plan and in our team. It is our goal to remain well ahead on the compliance curve.

UCO Bank announced after market hours on Friday, 4 November 2016, that the bank has raised non-convertible, unsecured subordinated fully paid-up Basel III compliant perpetual debt instruments eligible for inclusion in additional tier I capital of Rs 750 crore through private placement.

Pfizers net profit rose 52.49% to Rs 126.33 crore on 6.35% rise in total income to Rs 581.96 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours on Friday, 4 November 2016.

Union Bank of Indias net profit dropped 73.15% to Rs 176.67 crore on 2.71% rise in total income to Rs 9347.58 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours on Friday, 4 November 2016.

Union Bank of India announced that the bank has on 4 November 2016 issued 10,000 non-convertible, unsecured subordinated Basel III compliant perpetual debt instruments eligible for inclusion in additional tier 1 capital. The bond is issued for face value of Rs 10 lakh each at par aggregating to Rs 1000 crore on private placement basis bearing 9% per annum coupon payable annually.

Central Bank of India reported net loss of Rs 641.82 crore in Q2 September 2016 compared with net profit of Rs 112.87 crore in Q2 September 2015. Total income decreased 1.95% to Rs 6965.45 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours on Friday, 4 November 2016.

KPIT Technologies announced on Sunday, 6 November 2016 that it has completed agreement with ANSYS, to sell its Berlin-based subsidiary, KPIT medini Technologies AG, which has been focusing on functional safety products (Product brand known as Medini). Medini is a functional safety product which has applications beyond KPITs focused industries and as a software product, needs a wider and different distribution network to reach out to other industries beyond KPITs focused areas.

KPIT is expanding its portfolio as a provider of services and platforms to automotive industry for product engineering areas such as Powertrain, AUTOSAR, Diagnostics, Infotainment, etc. While KPIT will continue to provide services around the Medini tools, it would like to deepen its domain expertise by continuing to make further strategic investments in its focus areas for which the proceeds from this sale will be used.

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PNB Housing Finance in focus on debut
Nov 07,2016

Shares of PNB Housing Finance will debut on the bourses today, 7 November 2016. The initial public offer (IPO) of PNB Housing Finance saw strong response from investors. The issue received bids for 82.96 crore shares compared with 2.80 crore shares on offer. The IPO was subscribed 29.55 times. The bidding for the IPO remained open between 25 October 2016 to 27 October 2016. The issue price was fixed at top end of the price band of Rs 750 to Rs 775 per share. PNB Housing Finance is the fifth largest housing finance company (HFC) in India by the size of loan portfolio.

ICICI Bank announces Q2 results today, 7 November 2016.

Lupin announced that it has received notification that the inspection carried out by the USFDA in March 2016 at its Goa facility is now closed and the agency has issued an Establishment Inspection Report (EIR). This closes all outstanding US FDA inspections at Lupins Goa facility, the company said. Commenting on the receipt of the EIR, Vinita Gupta, Chief Executive Officer and Nilesh Gupta, Managing Director, Lupin said that the company is committed to ensuring that all systems and processes followed by it are compliant with cGMP and are committed to bringing quality products to market. The announcement was made on Saturday, 5 November 2016.

Shares of Grasim Industries will be in focus. The Reserve Bank of India has notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest from up to 30% of the paid up capital of Grasim Industries under the Portfolio Investment Scheme (PIS). The Reserve Bank has stated that Grasim Industries has passed resolutions at its board of directors level and a special resolution by the shareholders, agreeing for enhancing the limit from default 24% to 30% for the purchase of its equity shares by FIIs/RFPIs. The purchases could be made through primary market and stock exchanges. The announcement was made after market hours on Friday, 4 November 2016.

PSU OMCs and auto stocks will be in focus after Indian Oil Corporation (IOCL) announced increase in selling price of petrol by Rs 0.89/litre (excluding State levies) and increase in selling price of diesel by Rs 0.86/litre (excluding State levies) with effect from midnight of 5 November 2016 / 6 November 2016. After including VAT, petrol in Delhi costs Rs. 67.62 a litre up Rs. 1.17 from Rs 66.45 a litre. Similarly, diesel costs Rs 56.41 a litre after including VAT in Delhi, up Rs 1.03 as compared to Rs 55.38.The current level of international product prices of petrol and diesel and INR-USD exchange rate warrant decrease in price of petrol and increase in price of diesel, the impact of which is being passed on to the consumers with this price revision, IOCL said. The movement of prices in the international oil market and INR-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes, the company said.

Reliance Industries (RIL) announced on Saturday, 5 November 2016 that earlier that day, constituents of the contractor (RIL, BP and Niko) for block KG-DWN-98/3 (KG D6) received a communication from the Ministry of Petroleum & Natural Gas. Based on the recommendations of the Shah Committee, the Government has made a claim of about $1.55 billion against the contractor parties in respect of gas said to have migrated from neighbouring blocks. In carrying out petroleum operations, the contractor has worked within the boundaries of the block awarded to it and has complied with all applicable regulations and provisions of the Production Sharing Contract (PSC).

The claim of the Government is based on misreading and misinterpretation of key elements of the PSC and is without precedent in the oil & gas industry, anywhere in the world, company said. According to the Government the contractor is restricted to producing only that quantity of hydrocarbon as they existed at the point in time when the PSC was signed. This approach overlooks the fundamental fact that at that stage the work of exploration of the block has not even commenced and a complete lack of data makes it impossible to estimate the quantity of hydrocarbons available in the block. The liability of the Contractor has not been established by any process known to law and the quantification of the purported claim is without any basis and arbitrary.

RIL proposes to invoke the dispute resolution mechanism in the PSC and issue a Notice of Arbitration to the Government. RIL remains convinced of being able to fully justify and vindicate its position that the Governments claim is not sustainable.

Pfizers net profit rose 52.49% to Rs 126.33 crore on 6.35% rise in total income to Rs 581.96 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours on Friday, 4 November 2016.

Punjab National Banks net profit fell 11.54% to Rs 549.36 crore on 3.77% rise in total income to Rs 14,218.27 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours on Friday, 4 November 2016.

Union Bank of Indias net profit dropped 73.15% to Rs 176.67 crore on 2.71% rise in total income to Rs 9347.58 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours on Friday, 4 November 2016.

Union Bank of India announced that the bank has on 4 November 2016 issued 10,000 non-convertible, unsecured subordinated Basel III compliant perpetual debt instruments eligible for inclusion in additional tier 1 capital. The bond is issued for face value of Rs 10 lakh each at par aggregating to Rs 1000 crore on private placement basis bearing 9% per annum coupon payable annually.

UCO Bank announced after market hours on Friday, 4 November 2016, that the bank has raised non-convertible, unsecured subordinated fully paid-up Basel III compliant perpetual debt instruments eligible for inclusion in additional tier I capital of Rs 750 crore through private placement.

Central Bank of India reported net loss of Rs 641.82 crore in Q2 September 2016 compared with net profit of Rs 112.87 crore in Q2 September 2015. Total income decreased 1.95% to Rs 6965.45 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours on Friday, 4 November 2016.

KPIT Technologies announced on Sunday, 6 November 2016 that it has completed agreement with ANSYS, to sell its Berlin-based subsidiary, KPIT medini Technologies AG, which has been focusing on functional safety products (Product brand known as Medini). Medini is a functional safety product which has applications beyond KPITs focused industries and as a software product, needs a wider and different distribution network to reach out to other industries beyond KPITs focused areas.

KPIT is expanding its portfolio as a provider of services and platforms to automotive industry for product engineering areas such as Powertrain, AUTOSAR, Diagnostics, Infotainment, etc. While KPIT will continue to provide services around the Medini tools, it would like to deepen its domain expertise by continuing to make further strategic investments in its focus areas for which the proceeds from this sale will be used.

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Berger Paints in spotlight after reporting Q2 earnings
Nov 04,2016

Berger Paints Indias consolidated net profit rose 55.35% to Rs 138.78 crore on 8.48% rise in total income to Rs 1289.75 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 3 November 2016.

Wipro announced the appointment of Gilles Grange, as the regional head of its operations in France. In his new role, Gilles will be responsible for building and strengthening the companys presence in France by pursuing new business opportunities and growing its visibility in the region. He will be based in Paris, and report to Christophe Martinoli, Vice President and Head of Continental Europe. The announcement was made after market hours yesterday, 3 November 2016.

Bharti Airtel will be in focus. Bharti Airtel International (Netherlands) BV (Airtel) and Zain Telecom (Zain) have reached an agreement, pursuant to which Zain is to pay to Airtel about $129 million for the settlement of all of Airtels claims on account of the Nigeria Litigation, certain tax matters and associated legal costs. Under the terms of the 2010 share sale/purchase agreement, Zain had provided Airtel certain indemnities covering the Nigeria Litigation and for certain tax claims. A separate settlement has been reached between Airtel and Econet Wireless settling all claims, disputes whatsoever, between the two including in Nigeria and Netherlands. With these settlements, Airtel has closed several ongoing major litigations in Nigeria, UK and Netherlands. The announcement was made after market hours yesterday, 3 November 2016.

NMDC announced that it has kept unchanged price of lump iron ore at Rs 2,100 per wet metric tonne and that of fines iron ore price at Rs 1,760 per wet metric tonne with effect from 3 November 2016 compared with prices in October. The announcement was made after market hours yesterday, 3 November 2016.

Grindwell Nortons consolidated net profit rose 20% to Rs 29.49 crore on 12.44% rise in total income from operations to Rs 335.54 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 3 November 2016.

Monsanto India reported net profit of Rs 0.89 crore in Q2 September 2016 compared with net loss of Rs 26.38 crore in Q2 September 2015. Total income jumped 148.86% to Rs 99.37 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 3 November 2016.

Hexaware Technologies turns ex-dividend today, 4 November 2016 for interim dividend of Rs 1 per share for the year ending 31 December 2016 (FY 2016).

Hindustan Zinc turns ex-dividend today, 4 November 2016 for interim dividend of Rs 1.90 per share for the year ending 31 March 2017 (FY 2017).

Info Edge (India) turns ex-dividend today, 4 November 2016 for interim dividend of Rs 1.50 per share for the year ending 31 March 2017 (FY 2017).

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Ambuja Cements in spotlight ahead of Q3 results
Nov 03,2016

Ambuja Cements is scheduled to announce Q3 September 2016 results today, 3 November 2016.

Hero MotoCorp announced that it dispatched 6.63 lakh units in October 2016, its third consecutive month of six lakh plus sales. The announcement was made after market hours yesterday, 2 November 2016.

TVS Motor Company reported a 12% growth in total sales at 3.08 lakh units in October 2016 over October 2015. Total two-wheeler sales rose 15.1% to 3.03 lakh units in October 2016 over October 2015. Scooters sales rose 1.07% to Rs 92,417 units in October 2016 over October 2015. Motorcycles sales grew by 14.5% to 1.21 lakh units in October 2016 over October 2015. Three-wheeler sales declined 54.28% to 4,805 units in October 2016 over October 2015. Total exports dropped 15.7% to 35,134 units in October 2016 over October 2015. The company announced the sales volume data after market hours yesterday, 2 November 2016.

Indian Hume Pipe Company announced that the company has fixed 13 December 2016 as the record date for 1:1 bonus issue. The announcement was made after market hours yesterday, 2 November 2016.

IL&FS Engineering and Construction Company reported net loss of Rs 80.67 crore in Q2 September 2016 compared with net loss of Rs 81.87 crore in Q2 September 2015. The net total income from operations rose 1.36% to Rs 356.87 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 2 November 2016.

Premier Explosives net profit rose 26.8% to Rs 2.40 crore on 35.8% rise in total income from operations to Rs 54.92 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 2 November 2016.

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Lupin in focus after receiving USFDA approval for pregnancy prevention drug
Nov 02,2016

Lupin announced that it has received final approval for Norgestimate and Ethinyl Estradiol Tablets USP, 0.25 mg/0.035 mg from the United States Food and Drug Administration (USFDA) to market a generic version of Janssen Pharmaceuticals, Inc.s Ortho-Cyclen 28 Tablets (Norgestimate/Ethinyl Estradiol). The approved product will be manufactured at Lupins Pithampur facility. Lupins Norgestimate and Ethinyl Estradiol Tablets USP, 0.25 mg/0.035 mg are the AB rated generic equivalent of Janssen Pharmaceuticals, Inc.s Ortho-Cyclen 28 Tablets (Norgestimate/Ethinyl Estradiol). It is indicated for use by females of reproductive potential to prevent pregnancy. Ortho-Cyclen Tablets had US sales of $178.2 million as per IMS MAT June 2016. The announcement was made after market hours yesterday, 1 November 2016.

NTPC announced that in continuation with companys earlier disclosures in respect of Hindustan Urvarak & Rasayn (HURL), a joint venture company formed between NTPC (NTPC) and Coal India (CIL), a supplemental joint venture agreement has been signed on 31 October 2016 amongst NTPC, CIL, Indian Oil Corporation (IOC), Fertilizer Corporation of India (FCIL) and Hindustan Fertilizer Corporation (HFCL) in order to induct IOC, FCIL and HFCL, as joint venture partners and shareholders in HURL. Now, HURL shall also take up revival of Barauni plant of HFCL in addition to revival of Gorakhpur and Sindri plants of FCIL by setting up ammonia urea plants at each locations. The announcement was made after market hours yesterday, 1 November 2016.

Eicher Motors said total volume of VE Commercial Vehicles, an unlisted subsidiary of Eicher Motors rose 14.42% to 4,560 units in October 2016 over October 2015. The announcement was made after market hours yesterday, 1 November 2016.

Godrej Properties (GPL), one of Indias leading real estate developers, announced that it has sold over 60,000 square meters (6 lakh square feet) of villas with a booking value well in excess of Rs 300 crore in a single day at the launch of its first project, Crest, at its 100 acre township Godrej Golf Links. Godrej Golf Links, a golf and recreational residential township spread across 100 acres, will house a community of residential villas, a 9-hole golf course, and a wide-range of recreational features. The first project in the township, Crest, contains villas of various sizes and configurations that are designed to offer spectacular views of the sprawling golf course, green landscapes, and recreational zones. The announcement was made before market hours today, 2 November 2016.

Satin Creditcare Network announced that meeting of working committee of the board of directors of the company is scheduled to be held on 4 November 2016 for the issuance of non-convertible debentures upto the amount of Rs 50 crore through private placement. The announcement was made after market hours yesterday, 1 November 2016.

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Tata Steel in spotlight after ratings downgrade
Nov 01,2016

Tata Steel announced yesterday, 31 October 2016 that ratings agency Brickwork Ratings downgraded the companys credit rating to BWR AA from BWR AA+, with negative outlook for the unsecured non-convertible debenture (NCD) issues of Rs 4000 crore. The ratings agency also downgraded ratings to BWR AA- from BWR AA for the companys unsecured subordinated perpetual debt issues of Rs 2500 crore, with negative outlook. The sudden change of guard at the holding company/group level has not only heightened the management risk for Tata Steel, but also has exposed it to uncertainty over continuity of critical decisions on cost cutting and deleveraging the balance sheet concerning the unprofitable UK operations and restructuring its European business, the ratings agency said. Unless the company takes appropriate measures in this regard, it may lead to a further deterioration in financial profile of the company, as also a rating action, the agency added.

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

Yes Bank announced yesterday, 31 October 2016 that it has received the approval from Reserve Bank of India (RBI) for appointment of Ashok Chawla as Non-Executive Part-time Chairman of the bank for a period of three years from the date of his taking charge. Accordingly, Chawla took charge as Non-Executive Part-time Chairman of the bank with effect from 30 October 2016 upon the expiry of the term of the current Chairperson of the bank, Radha Singh. Ashok Chawla, an independent director, was appointed on the board on 5 March 2016.

Cadila Healthcare announced yesterday, 31 October 2016 that new data of Saroglitazar will be presented at The Liver Meeting being held at Boston from 11 to 15 November 2016. Saroglitazar (Lipaglyn), a novel agonist having predominant PPAR alpha activity, was launched in India as a prescription medicine for the treatment of Hypertriglyceridemia and Diabetic Dyslipidemia in patients with Type 2 Diabetes not controlled by statins. Saroglitazar is currently being evaluated in several clinical trials in India and other countries.

NBCC (India) announced yesterday, 31 October 2016 that pursuant to Ministry of Urban Development letter dated 28 October 2016, S K Chaudhary, Executive Director has been relieved from the company upon his relinquishing the charge of the post of Director (Projects), NBCC to join as Chairman & Managing Director, IRCON International.

Kitex Garments net profit fell 52.41% to Rs 12.92 crore on 20.32% decline in total income from operations to Rs 106.96 crore in Q2 September 2016 over Q2 September 2015. The result was announced yesterday, 31 October 2016.

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Tech Mahindra in spotlight after Q2 results
Oct 28,2016

Tech Mahindras consolidated net profit declined 19.22% to Rs 643.40 crore on 3.56% growth in income from operations to Rs 7167.41 crore in Q2 September 2016 over Q1 June 2016. The result was announced after market hours yesterday, 27 October 2016.

In dollar terms, the companys consolidated net profit declined 13.4% to $96.5 million on 6.1% growth in revenue to $1.072 billion in Q2 September 2016 over Q1 June 2016. Revenue in constant currency terms rose 5% in Q2 September 2016 over Q1 June 2016.

Vineet Nayyar, Vice Chairman, Tech Mahindra said that the companys performance during the quarter indicates that its early investments in new technologies and capabilities are starting to show result.

C P Gurnani, Managing Director & CEO, Tech Mahindra said that overall, it was a very good quarter with the growth well-supported by its key communications and enterprises businesses. The company had some marquee wins which align very well with its strategy of catering to the connected world, he said.

Bajaj Auto, Colgate-Palmolive (India), Eicher Motors, Grasim Industries, IDFC, Nestle India, NTPC and Vedanta will declare July-September 2016 quarter results today, 28 October 2016.

Wipro announced after market hours yesterday, 27 October 2016 that it has won a five-year engagement with Speciality Restaurants for offering energy management services to the latter, which would help pare energy and operational costs.

NMDC said after market hours yesterday, 27 October 2016 that it has signed a tripartite memorandum of understanding (MOU) with Government of Madhya Pradesh and Madhya Pradesh State Mining Corporation (MPSMCL) for geological & geophysical exploration of various minerals in Madhya Pradesh. NMDC had made intentions to invest during the global investors summit held in October 2016 for exploration for different minerals in various districts of Madhya Pradesh over an area of approximately 7,200 square kilometers. As per the MOU, on successful establishment of mineral blocks through this proposed exploration, NMDC would be forming a joint venture with MPSMCL with equity 51:49 (NMDC-MPSMCL) for mining of such blocks.

On a consolidated basis, net profit of JSW Steel rose 1191.25% to Rs 726.46 crore on 22.03% rise in net sales to Rs 12986.63 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 27 October 2016.

Net profit of Castrol India declined 2.37% to Rs 139.80 crore on 2.84% decline in net sales to Rs 758.90 crore in Q3 September 2016 over Q3 September 2015. The result was announced after market hours yesterday, 27 October 2016.

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