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Ambuja Cements, ZEE in focus after declaring June 2017 quarterly results
Jul 25,2017

Ambuja Cements consolidated net profit rose 11.9% to Rs 718.24 on 14.7% increase in net sales to Rs 6145.33 crore in Q2 June 2017 over Q2 June 2016. The result was announced after market hours yesterday, 24 July 2017.

Ambuja Cements said that the Governments focus on infrastructure, backed by a good monsoon, should help in spurring economic growth in the second half of the year. The company said it was well prepared for the implementation of the new Goods and Services Tax (GST) with effect from 1 July 2017. The resulting simplification of the tax structure will make it easier to do business and benefit the overall economy in the long run.

Zee Entertainment Enterprises (ZEE) consolidated net profit rose 15.9% to Rs 251.44 crore on 2% decline in net sales to Rs 1540.25 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 24 July 2017.

Bharti Infratels consolidated net profit fell 12.2% to Rs 663.90 crore on 9.7% increase in net sales to Rs 1593.40 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 24 July 2017.

Indiabulls Housing Finances consolidated net profit rose 25.1% to Rs 788.22 crore on 24.2% growth in total income to Rs 3225.02 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 24 July 2017.

Among prominent earnings, Asian Paints, Axis Bank, Bharti Airtel and Hero MotoCorp are scheduled to announce April-June 2017 quarter results today, 25 July 2017.

On a consolidated basis, Mahindra & Mahindra Financial Services profit after tax (PAT) and minority interest declined by 46% to Rs 58 crore on 19% increase in total income to Rs 1886 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 24 July 2017.

The company, with effect from quarter ended 30 June 2016, had started considering the estimated realisable value of underlying security (which conforms to the RBI norms) for loan assets to determine 100% provisioning for assets which were 24 months overdue which had resulted in lower provision of Rs 193 crore in Q1 June 2016 and Rs 83 crores in the year ended March 2017 with a consequent impact on the profit before tax. In Q1 June 2017, the company has made additional provision of Rs 83 crore against the above mentioned 100% provision cases.

During this quarter, the companys customer base has crossed 4.8 million customers. The company currently has a network of 1,183 offices and the total assets under management (AUM) of Rs 47576 crore as on 30 June 2017, as against Rs 41662 crore as on 30 June 2016, a growth of 14%.

Shares of Salasar Techno Engineering will be listed and admitted to dealings today, 25 July 2017 on the BSE in T group. The initial public offer (IPO) of Salasar Techno Engineering received bids for 90.67 crore shares, NSE data showed. The IPO was subscribed 273.05 times. The IPO opened for bidding on 12 July 2017 and closed on 17 July 2017. The IPO price was fixed at Rs 108 per share.

Just Dials board of directors considered and approved the proposal to buyback shares from its shareholders/beneficial owners other than those who are promoters, members of the promoter group and persons in control, from the open market through stock exchanges mechanism for a total amount not exceeding Rs 83.91 crore, and at a price not exceeding Rs 700 per share. The maximum buyback size represents 9.998% of the aggregate of the companys share capital and free reserves based on the standalone audited financial statements of the company as at 31 March 2017. The announcement was made after market hours yesterday, 24 July 2017.

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Lupin may advance as Goa facility clears US FDA inspection
Jul 24,2017

Lupin announced the successful completion of a PAI inspection (Prior Approval Inspection) carried out by the United States Food and Drug Administration (USFDA) at its Goa manufacturing facility without any observations. The announcement was made after market hours on Friday, 21 July 2017.

Reliance Industries (RIL) held its 40th annual general meeting (AGM) on Friday, 21 July 2017. RIL Chairman Mukesh Ambani announced the launch of JioPhone, which is a 4G VoLTE-enabled feature phone. Reliance Jio JioPhone will hit the shelves starting the first week of September, and pre-orders begin 24 August 2017, he said. Reliance Jio has close to 100 million paid customers, added Ambani. The outcome of the AGM was disclosed to the stock exchanges after market hours on Friday, 21 July 2017.

Tata Motors said it is holding a meeting of its duly constituted committee of the board on 26 July 2017, to consider issue of non-convertible debentures (NCDs) aggregating to Rs 1000 crore in one or more tranches. The announcement was made after market hours on Friday, 21 July 2017.

State Bank of India (SBI) said that the executive committee of the central board (ECCB) of the bank at its meeting held on Friday, 21 July 2017, given approval for entering into a shareholder agreement with CA Rover Holdings (an affiliate of Carlyle Asia Partners IV), who will be the new partner in the banks Credit Card joint venture, and shall hold 26% stake in both the companies. The proposed transactions are subject to regulatory approvals. The announcement was made after market hours on Friday, 21 July 2017.

Among prominent earnings, Ambuja Cements, HDFC Bank, Indiabulls Housing Finance, Bharti Infratel and Zee Entertainment Enterprises are scheduled to announce April-June 2017 quarterly earnings today, 24 July 2017.

Avenue Supermarts net profit rose 47.56% to Rs 174.78 crore on 36.27% rise in total income to Rs 3620.96 crore in Q1 June 2017 over Q1 June 2016. The result was announced on Saturday, 22 July 2017.

Divis Laboratories net profit dropped 41.51% to Rs 176.54 crore on 17.67% fall in total income to Rs 850.88 crore in Q1 June 2017 over Q1 June 2016. The result was announced on Saturday, 22 July 2017.

Mangalore Refinery and Petrochemicals (MRPL) reported 67.43% fall in net profit to Rs 234.01 crore on 18.76% rise in total income to Rs 10282.85 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours on Friday, 21 July 2017.

Tata Sponge Iron reported 190.22% surge in net profit to Rs 30.56 crore on 57.7% rise in total income to Rs 185.27 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours on Friday, 21 July 2017.

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RIL may gain on strong Q1 results
Jul 21,2017

Reliance Industries (RIL) consolidated net profit rose 28% to Rs 9108 crore on 26.7% rise in revenue to Rs 90537 crore in Q1 June 2017 over Q1 June 2016. The announcement was made after market hours yesterday, 20 July 2017.

Increase in revenue is primarily on account of increase in prices and volumes of refining and petrochemical products partially offset by lower prices and volumes from E&P business. Revenue was also boosted by robust growth in retail business which recorded a 73.6% increase in revenue to Rs 11571 crore. Reliance Retail witnessed growth across all consumption baskets during the quarter.

Strong refining and petrochemicals margin environment contributed to higher operating profits for the quarter. Gross refining margins recorded nine-year-high of $ 11.9 per bbl whereas petrochemicals EBIT (earnings before interest and depreciation) margin were at all-time high of 15.8%. Gross refining margin rose to $11.9 per barrel in Q1 June 2017 from $11.5 per barrel in Q1 June 2016.

The board of directors of RIL considered and approved an investment in Balaji Telefilms (BTL), to acquire 2.52 crore equity shares constituting 24.92% of BTLs equity, through subscription to preferential issue of shares by BTL to RIL for cash consideration of Rs 164 per equity share amounting to an investment of Rs 413.28 crore. This investment in content production (including digital content) is in line with RILs commitment to invest and grow in telecom digital and media businesses.

BTL has launched a new digital platform, ALTBalaji (ALT), in April 2017, which has garnered over 3 million downloads and subscribers from over 75 countries since its launch. The transaction is subject to BTLs shareholder approval and regulatory compliances and other conditions precedent and is expected to be completed in 45 to 60 days.

Wipros consolidated net profit rose 1.57% to Rs 2019.10 crore on 5% fall in total income to Rs 14281.40 crore in Q1 June 2017 over Q1 March 2017. The announcement was made after market hours yesterday, 20 July 2017.

Wipros board of directors approved a buyback proposal of up to 34.37 crore shares (representing 7.06% of total paid-up equity capital) from the shareholders of the company on a proportionate basis by way of a tender offer at Rs 320 per equity share for an aggregate amount not exceeding Rs 11000 crore.

Ashok Leyland will announce April-June 2017 results today, 21 July 17.

South India Paper Mills said that a long term settlement has been reached between the management and the workers union including wage settlement. The workers union have agreed to call off the strike at the companys paper mill at Chikkayanachatra, Nanjangud, before the Labour Commissioner, Govt of Karnataka, Bangalore. The announcement was made after market hours yesterday, 20 July 2017.

The board of directors of Talwalkars Better Value Fitness decided to issue 13 lakh equity shares on preferential basis to promoter group. The announcement was made after market hours yesterday, 20 July 2017.

Zensar Technologies consolidated net profit surged 348.08% to Rs 48.08 crore on 5.05% rise in total revenue to Rs 756.91 crore in Q1 June 2017 over Q4 March 2017. The announcement was made after market hours yesterday, 20 July 2017.

Rallis Indias consolidated net profit fell 74.02% to Rs 45.25 crore on 0.43% decline in total income to Rs 467.56 crore in Q1 June 2017 over Q1 June 2016. The announcement was made after market hours yesterday, 20 July 2017.

The board approved the divestment of its shares in Advinus to Eurofins Pharma Services Lux Holdings SARL.

The board also approved the scheme of amalgamation for the merger of Zero Waste Agro-Organics Limited, wholly owned subsidiary of the company, with the company, subject to such approvals as may be required.

Cupids net profit rose 12.86% to Rs 4.32 crore on 21.22% rise in total operating income to Rs 19.69 crore in Q1 June 2017 over Q1 June 2016. The announcement was made after market hours yesterday, 20 July 2017.

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Just Dial may gain on share buyback plan
Jul 20,2017

Just Dial said that the board on 24 July 2017 will also consider a proposal for buyback of shares of the company. The announcement was made before market hours today, 20 July 2017.

Tata Consultancy Services announced that its customer, Axis Securities has launched voice based trading as part of TCS BaNCS Digital and is among the early adopters of this technology to offer such a capability to its customers. As a result of this new offering, trade volumes are expected to grow by 10-15% from the mobile app and the enhanced voice based trading. The announcement was made after market hours yesterday, 19 July 2017.

Wipro, Bajaj Auto, Kotak Mahindra Bank, Reliance Industries and RBL Bank will announce April-June 2017 results on today, 20 July 2017.

Dwarikesh Sugar Industries said that ICRA has vide its letter dated 19 July 2017 upgraded the rating from [ICRA]A- (pronounced as ICRA A minus) to [ICRA]A+ (pronounced as ICRA A Plus) with stable outlook for long term loans/ fund based / non fund based facilities of Rs 599.99 crore. The announcement was made after market hours yesterday, 19 July 2017.

Karnataka Bank said that the bank is targeting a farm credit of Rs 6800 crore during 2017-18. Mahabaleshwara MS, Managing Director and Chief Executive Officer of the bank, said that timely extension of farm credit, technical counselling, marketing input to farmers to reap maximum benefit and thereby ensuring timely renewal shall be focused by agri business managers to have a commercially viable agri portfolio which is remunerative to both the bank and farmers. The announcement was made after market hours yesterday, 19 July 2017.

Subex has been selected by ElevenPaths, Telefonica Cybersecurity Unit to offer a Fraud Management - as a Service (FMaaS) solution. The agreement between Telefonica and Subex will result in the new Telefonica FMaaS Powered by Subex to protect against a comprehensive set of digital risks and threats, along with a library of fraud detection process. The announcement was made after market hours yesterday, 19 July 2017.

Adani Enterprises has incorporated a wholly owned subsidiary company namely, Gare Pelma III Collieries on 18 July 2017. Being a successful bidder, Chhattisgarh State Power Generation Corporation (CSPGCL) has issued Letter of Award to Adani Enterprises for Gare Pelma III Coal Block on 24 June 2017. Accordingly, Gare Pelma III Collieries has been formed as a SPV of Adani for execution of Coal Mining Service Agreement with CSPGCL. The announcement was made after market hours yesterday, 19 July 2017.

IFB Industries has entered into an agreement with IFB Automotive towards acquisition of Global Automotive & Appliances (GAAL), Singapore and consideration money of Rs 19.99 crore paid to acquire 100% equity capital of GAAL. The announcement was made after market hours yesterday, 19 July 2017.

Canara Banks net profit rose 9.9% to Rs 252 crore on 4.39% rise in total income to Rs 12304 crore in Q1 June 2017 over Q1 June 2016. The announcement was made after market hours yesterday, 19 July 2017.

Trent said that board of directors approved entering into definitive agreement with Trent Hypermarket Private Limited (THPL), a Joint Venture of the company, for acquiring their value fashion apparel business. The value fashion business presents significant synergies with the existing apparel business of the company. The announcement was made after market hours yesterday, 19 July 2017.

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Hindustan Unilever may gain on decent Q1 results
Jul 19,2017

Hindustan Unilevers net profit rose 9.28% to Rs 1283 crore on 4.76% growth in total income to Rs 9335 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 18 July 2017.

Earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 14%. Profit after tax before exceptional items, PAT (bei), rose 15% to Rs 1292 crore. Under volatile market conditions, the companys domestic consumer business grew at 6% and underlying volume growth remained flat. During the quarter, trade sentiment remained cautious, particularly in the run up to GST implementation. Despite high promotional intensity, stock pipelines remained low and varied across categories, channels and geographies. In these challenging circumstances the company managed to deliver yet another quarter of resilient and profitable growth.

Harish Manwani, Chairman commented that both growth and margin improvement were delivered through a combination of sustained innovations, a comprehensive savings program and a relentless focus on execution in the market place. The company remains positive on the medium term outlook for the industry and will continue to drive consumer value, which also delivers profitable volume driven growth for the company.

Power Grid Corporation of India said that POWERGRID Kala Amb Transmission, wholly owned subsidiary of the company secured though Tariff Based Competitive Bidding (TBCB), has declared commissioning of its project on 12 July 2017. The announcement was made after market hours yesterday, 18 July 2017.

Ashok Leyland has formed a strategic alliance with SUN Mobility to develop electric mobility solutions. The announcement was made after market hours yesterday, 18 July 2017.

CRISILs consolidated net profit rose 9.33% to Rs 67.25 crore on 7.26% growth in total income to Rs 415.79 crore in Q2 June 2017 over Q2 June 2016. Theresult was announced after market hours yesterday, 18 July 2017.

MOIL said that in terms of Cabinet Committee of Economic Affairs (CCEA) decision dated 16 January 2015, it has been decided by Government of India to offer upto 6.65 lakh equity shares of face value of Rs 10 each of MOIL to the eligible employees of MOIL at a discounted price of Rs. 346.75 (this price is at 5% discount to the cut off price of Rs 365 discovered in the offer for sale of shares of MOIL carried out by Government of India on 24 & 25 January 2017). The minimum and maximum number of equity shares which can be applied for by eligible employees is 10 and 576 equity shares, respectively. The announcement was made after market hours yesterday, 18 July 2017.

KDDL announced that the companys subsidiary - Ethos has launched a new store (EMSW) with effect from 25 June 2017 at Navi Mumbai, Mumbai. The total number of stores as on date is 36 only. The announcement was made after market hours yesterday, 18 July 2017.

Bhansali Engineering Polymers announced that a production capacity expansion programme is proposed to be undertaken by the company at its ABU Road Plant at Sirohi, Rajasthan to enhance its ABS production capacity from the existing 80 kilotons per annum (KTPA) to 137 KTPA by 31 December, 2018 with the estimated capex of Rs 300 crore to be funded through internal accruals only. The announcement was made after market hours yesterday, 18 July 2017.

Glenmark Pharmaceuticals, announced that it has entered into a development, license, manufacture and commercial supply agreement with Cyndea Pharma S.L., granting exclusive rights to use their technology for developing generic, soft-gelatin capsule formulations of certain pharmaceutical products.

Under this agreement, Glenmark receives exclusive rights to the United States and Canada markets for these soft-gelatin formulations in exchange for sharing development costs and profits from future sales. In addition, the agreement provides for the companies to add furthersoft-gelatin product candidates for development and commercialization, as new branded, softgelatin, capsule-based drug products become available in the marketplace. The announcement was made before market hours today, 19 July 2017.

Can Fin Homes announced that at the meeting of the board of directors of the company scheduled to be held on 21 July 2017 a proposal is being placed for approval and authorisations for raising secured non-convertible debentures to the extent of Rs 6000 crore on private placement basis. The announcement was made after market hours yesterday, 18 July 2017.

Majesco said that Majesco, USA, (Majesco) the insurance arm and a subsidiary of Majesco announced about the selection of the Majesco CloudInsurer platform by a leading provider of financial protection benefits globally, to transform their collections operation across multiple geographies. In the first phase, they will implement Majesco CloudInsurer to modernize their collection operations in one country to be followed by other Latin America countries and additional territories in the Middle East and Asia. The announcement was made after market hours yesterday, 18 July 2017.

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ACC may advance on strong Q2 results
Jul 18,2017

ACCs consolidated net profit rose 32.65% to Rs 326.23 crore on 20.32% rise in total income to Rs 3985.40 crore in Q2 June 2017 over Q2 June 2016. The result was announced after market hours yesterday, 17 July 2017. ACC said that cement sales volume rose 10.1% to 6.74 million tonnes in Q2 June 2017 over Q2 June 2016. Operating earnings before interest, taxes, depreciation and amortization (EBITDA) rose 38% to Rs 637 crore in Q2 June 2017 over Q2 June 2016. Operating EBITDA margin improved to 19% in Q2 June 2017 from 16% in Q2 June 2016.

State Bank of India announced that its subsidiary, SBI Life Insurance Company has filed a draft red herring prospectus with the SEBI for an initial public offer of up to 12 crore equity shares of face value of Rs 10 each, representing 12% of its paid up equity share capital for cash, through an offer for sale by State Bank of India and BNP Paribas Cardif S.A of up to 8 crore equity shares (representing 8% of the paid up share capital) and up to 4 crore equity shares (representing 4% of the paid up share capital), respectively. The announcement was made after market hours yesterday, 17 July 2017.

Axis Bank has reviewed and decided to keep the Marginal Cost of Funds based Lending Rates (MCLR) of the bank unchanged. This will be effective from 18 July 2017. The announcement was made after market hours yesterday, 17 July 2017.

Tata Consultancy Services announced that Zions Bancorporation has gone live on TCS BaNCS for core banking with successful transition of Zion Bancorporations consumer lending business over to the TCS BaNCS platform. The announcement was made after market hours yesterday, 17 July 2017.

Shares of Dr Reddys Laboratories turn ex-dividend today, 18 July 2017 for dividend of Rs 20 per share for the year ended 31 March 2017.

CRISIL and UltraTech Cement will announce April-June 2017 results today, 18 July 2017.

Indiabulls Real Estate scheduled a board meeting on 24 July 2017, to consider issuance of Non-Convertible Redeemable Debentures, on private placement basis. The announcement was made after market hours yesterday, 17 July 2017.

C & C Constructions has executed a definite term sheet for sale of its entire stake in two of its road SPVs. The sale process is likely to be completed in around three months. The board has already granted its permission for the same. The announcement was made after market hours yesterday, 17 July 2017.

Zee Media Corporation announced that the company has established a wholly owned subsidiary in the name and style of Ez-Mall Online and has subscribed to 700 equity shares of Re. 1 each therein. This wholly owned subsidiary shall engage in web-based e-commerce business, to complement TV-based e-commerce business currently housed under companys 49% associate entities viz., Today Merchandise and Today Retail Network. The announcement was made after market hours yesterday, 17 July 2017.

Shriram Transport Finance Company announced that the Allotment Committee - Non-Convertible Debentures (NCDs) of the company in its meeting held 17 July 2017 has approved and allotted 3,000 Secured Redeemable Rated Listed Non-Convertible Debenture of face value of Rs 10 lakh each, aggregating to Rs 300 crore on private placement basis. The announcement was made after market hours yesterday, 17 July 2017.

NHPC said that the meeting of board of directors is scheduled to be held on 27 July 2017 to consider the proposal of raising corporate debentures/bonds aggregating to Rs 5000 crore on private placement Basis subject to Shareholders Approval through special resolution in the next Annual General Meeting of the company. The announcement was made after market hours yesterday, 17 July 2017.

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Cadila Healthcare may gain after getting USFDA approval for drug
Jul 17,2017

Cadila Healthcare announced that it has received the tentative approval from the United States Food and Drug Administration (USFDA) to market Fingolimod Capsules, 0.5 mg. The drug is an immunomodulating drug, mostly used for treating multiple sclerosis and will be produced at the groups formulations manufacturing facility at the Pharma SEZ, in Ahmedabad. The sales of Fingolimod Capsules is estimated at $2.1 billion as per IMS Health data. The announcement was made after market hours on Friday, 14 July 2017.

The group now has more than 120 approvals and has so far filed over 300 abbreviated new drug applications (ANDAs) since the commencement of the filing process in FY 2003-04.

Among prominent companies, ACC and Jubilant FoodWorks will announce April-June 2017 results today, 17 July 2017.

Sunteck Realty announced that it has fixed 26 July 2017 as the record date for 2-for-1 stock split. The announcement was made after market hours on Friday, 14 July 2017.

Suzlon Energy announced on Saturday, 15 July 2017, the filing of voluntary liquidation of its Brazilian subsidiary Suzlon Energia Eolica do Brasil Ltda (SEOB). SEOB was established to manage business opportunities in Brazil in 2006. SEOB has taken this decision after carefully considering all options and as a consequence of multiple factors that are unique to Brazil, Suzlon said. The decision does not, in any way, alter Suzlons global operations strategy, it added.

DCB Banks net profit rose 39% to Rs 65 crore on 34% rise in total income to Rs 319 crore in Q1 June 2017 over Q1 June 2016. The announcement was made on Saturday, 15 July 2017.

Karnataka Banks net profit rose 10.13% to Rs 133.85 crore on 7.87% rise in total income to Rs 1547.94 crore in Q1 June 2017 over Q1 June 2016. The announcement was made on Saturday, 15 July 2017.

Gruh Finances net profit rose 20% to Rs 72.24 crore on 15% rise in total income to Rs 398.12 crore in Q1 June 2017 over Q1 June 2016. The announcement was made on Saturday, 15 July 2017.

TCPL Packaging said that board of directors of the company approved issue, offer and allotment of 4 lakh equity shares of the company at a price of Rs 600 per share on a preferential basis through private placement, for a total consideration of Rs 24 crore. The announcement was made on Saturday, 15 July 2017.

Alkem Laboratories said that USFDA had conducted an inspection at the companys Bioequivalence facility located at Taloja, India from 10th July, 2017 to 14th July, 2017. At the end of the inspection, no Form 483 was issued. The announcement was made after market hours on Friday, 14 July 2017.

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TCS may drop after reporting weak Q1 earnings
Jul 14,2017

TCS consolidated net profit fell 10.13% to Rs 5940 crore on 0.19% decline in net sales to Rs 29584 crore in Q1 June 2017 over Q4 March 2017. The result was announced after market hours yesterday, 13 July 2017.

Commenting on the companys Q1 performance, TCS CEO and MD, Rajesh Gopinathan said that the company has seen steady growth across industries in Q1. Robust volumes from major markets driven by good client additions across revenue bands and accelerating Digital adoption among customers have given it the right start to the year. The company had excellent wins across all markets and has a good deal pipeline across industries that position it well for growth in FY18, Gopinathan said.

V. Ramakrishnan, Chief Financial Officer, TCS, said that during the quarter high currency volatility including sharp rupee appreciation against the dollar resulted in Rs 650 crore loss in reported revenues. TCS focused on generating strong cash flows and invest in its digital business. Despite the impact of wage hikes in Q1, TCS continues to drive profitability to its targeted range, Ramakrishnan added.

TCS board declared interim dividend of Rs 7 per share for the year ending March 2018.

IT major Infosys is scheduled to announce Q1 June 2017 results today, 14 July 2017.

Yes Bank said it has teamed up with the Overseas Private Investment Corporation (OPIC), the U.S. Governments Development Finance Institution, and Wells Fargo on an agreement to increase lending to small and medium enterprises (SMEs) in India.

Under the agreement, OPIC will provide $75 million in financing and up to $75 million in syndicated financing jointly arranged by Wells Fargo Bank to Yes Bank. Specifically, $50 million of the financing would be used to expand support to women-owned businesses, while another $50 million will be used for financing SME business in low-income states. The announcement was made after market hours yesterday, 13 July 2017.

Infibeam Incorporation said its board at a meeting held yesterday, 13 July 2017, approved 10-for-1 stock split. The announcement was made after market hours yesterday, 13 July 2017.

Housing finance major HDFC turns ex-dividend today, 14 July 2017, for final dividend of Rs 15 per share for the year ended March 2017.

Mahindra & Mahindra Financial Services (MMFSL) turns ex-dividend today, 14 July 2017, for dividend of Rs 2.40 per share for the year ended March 2017.

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TCS to be watched ahead of Q1 earnings
Jul 13,2017

IT major TCS is slated to announce Q1 June 2017 results today, 13 July 2017.

Chambal Fertilisers and Chemicals said that it has delivered the ship - Ratna Shalini to the buyer on 11 July 2017. Earlier in May 2017, the company announced that it executed a memorandum of agreement with Rialto Navigation S.A., Liberia for sale of the ship - Ratna Shalini for a consideration of $24.5 million. The announcement was made after market hours yesterday, 12 July 2017.

Tata Global Beverages will be watched. The stock exchanges sought clarification from the company with respect to news item titled, Tata Global Beverages to divest stake in groups firms to parent. Tata Global Beverages clarified after market hours yesterday, 12 July 2017, that it has not taken any decision on the matters mentioned in the media report and the news item is therefore speculative in nature.

Speciality Restaurants said it has entered into a franchise agreement on 11 July 2017 with Resolute Restaurant Management LLC (the franchisee), granting the latter right to open three franchise restaurants under brand Mainland China Asia Kitchen in United Arab Emirates within the time stipulated in the franchise agreement. First franchise restaurant will be opened at BurJuman Mall, New Wing, in Dubai, United Arab Emirates.

The company will manage the day-to-day operations of restaurant and charge franchise fees and management fees, in accordance with the terms of the franchise agreement. The announcement was made after market hours yesterday, 12 July 2017.

Bharti Airtel turns ex-dividend today, 13 July 2017, for dividend of Rs 1 per share for the year ended March 2017.

Mahindra & Mahindra turns ex-dividend today, 13 July 2017, for dividend of Rs 13 per share for the year ended March 2017.

Reliance Industries turns ex-dividend today, 13 July 2017, for dividend of Rs 11 per share for the year ended March 2017.

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Tata Steel in focus after divesting entire stake in JV
Jul 12,2017

Tata Steel announced that the companys entire equity stake in a 50% joint venture, viz, Tata Elastron S.A. has been divested to Elastron S.A for a consideration of euro 0.368 million. It is not a related party transaction. The announcement was made before market hours today, 12 July 2017.

Reliance Industries (RIL) will be watched. The companys telecom subsidiary Reliance Jio Infocomm (Jio) announced that Jio Prime Members can enjoy unlimited services for 3 months with Rs 399 plan. The earlier launched Rs 309 plan will provide 2 months of unlimited Jio services.

The new set of plan benefits will be available from 11 July and will be applicable for all new as well as existing subscribers. As part of this unlimited benefit, customers can enjoy 1GB data per day at 4G speed followed by unlimited at 128 kbps, unlimited local, STD and national roaming voice calls and unlimited national SMS.

Over and above the Prime exclusive plans, Jio is introducing new Every Day More Value (EDMV) plans. These plans provide 20% more value than competitors best plans. Its Jios solemn promise to always offer better value for the best price, RIL said.

Earlier this year, in the month of March, Jio introduced JIO PRIME membership program. Millions of customers enrolled into this membership. These founding members of Jio will also be special and they will continue to get industry-leading tariffs, RIL said. With the introduction of EDMV plans, Jio customers no longer have to worry if they are getting the best value with Jio, it added. The announcement was made after market hours yesterday, 11 July 2017.

Ajanta Pharma said that Ganga Exports, a promoter group entity, has sold 27 lakh equity shares, or 3.07% equity, of the company. Consequent to sale, promoter holding has come down from 73.78% to 70.71% stake in Ajanta Pharma. This sale has been done to provide liquidity to the promoters and the proceeds will be utilized for personal use. The announcement was made after market hours yesterday, 11 July 2017.

Srei Infrastructure Finance said that Srei Equipment Finance, a material subsidiary of the company, has on 11 July 2017 filed prospectus dated 10 July 2017, with BSE and the National Stock Exchange of India (NSE) towards its public issue of 50 lakh unsecured subordinated redeemable non-convertible debentures of face value of Rs 1000 each, eligible for inclusion as Tier II capital (the Debentures or the NCDs) for an amount upto Rs 500 crore (base issue size) with an option to retain over subscription upto Rs 1000 crore (overall issue size). The issue will open for subscription on 17 July 2017 and close on 31 July 2017. The announcement was made after market hours yesterday, 11 July 2017.

Capital First said that the meeting of the Debenture Committee of the Board of Directors of the company will be held on Friday, 14 July 2017 inter-alia to consider and approve the private placement of rated, listed, secured/unsecured /perpetual, redeemable non-convertible securities in the nature of debentures. The announcement was made after market hours yesterday, 11 July 2017.

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IndusInd Bank in spotlight ahead of Q1 earnings
Jul 11,2017

IndusInd Bank is scheduled to announce Q1 June 2017 earnings today, 11 July 2017.

State Bank of Indias (SBI) executive committee of the central board has given the final approval for divestment of 8 crore shares in SBI Life through an initial public offering (IPO). The shares being offered for sale by SBI will be available at a price that would be fixed and determined by SBI Life, SBI, and BNP Paribas Cardiff, in consultation with the book-running lead managers, SBI said. The announcement was made after market hours yesterday, 10 July 2017.

Bharti Airtel announced the launch of Project Next - its digital innovation program aimed at transforming customer experience across all of its services and touch points. Airtel said it plans to invest up to Rs 2000 crore over the next 3 years under Project Next to launch several exciting digital innovations to step change the simplicity and interactivity of the Airtel customer experience. Project Next complements Airtels massive investments towards building a future ready network under Project Leap. The announcement was made at the fag end of market hours yesterday, 10 July 2017.

Gujarat State Fertilizers & Chemicals (GSFC) announced an emergency shutdown of ammonia-IV plant on 6 July 2017 due to detection of leakage of high pressure process gas from hot header of reformer box. Urea-II plant was also shutdown due to non-availability of CO2 gas which is by product of ammonia-IV plant. All other plants of GSFC are operational with supply of ammonia from ammonia storage tanks. Efforts are being put to rectify the problem and put back the plant on regular operation. The announcement was made after market hours yesterday, 10 July 2017.

Reliance Power said it has redeemed and paid interest in respect of its 2500 -10.20% unsecured redeemable non-convertible debentures series I (2016) of Rs 10 lakh each aggregating to Rs 250 crore on the due date 10 July 2017. The announcement was made after market hours yesterday, 10 July 2017.

Bajaj Electricals had advanced a sum of Rs 3.80 crore to Starlite Lighting (SLL) as a short term loan inter-alia on the collateral security by way of pledge by the promoters of SLL of 38 lakh equity shares, 28% equity, held in SLL, under an agreement of pledge of shares dated 23 February 2007, with a right to the company to purchase the same, at its sole discretion, at a pre-determined consideration of Rs 3.50 lakh.

The company has now exercised its right to acquire these shares and with this acquisition, the shareholding of the company in SLL has increased from 19% to 47%. The above transaction falls within the purview of related party transactions. The announcement was made after market hours yesterday, 10 July 2017.

Cyient said it has subscribed to 49% of share capital of a newly incorporated company Cyient Solutions and Systems. The announcement was made after market hours yesterday, 10 July 2017.

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Tata Motors in spotlight after good JLR sales
Jul 10,2017

Tata Motors said that the sales of its British luxury unit Jaguar Land Rover (JLR) rose 11% to 51,591 units in June 2017 over June 2016, driven by healthy China market. Jaguar sales grew by 16.4% to 15,343 units in June 2017 over June 2016. Land Rover sales rose 8.9% to 36,248 units in June 2017 over June 2016. The announcement was made after market hours on Friday, 7 July 2017.

AU Small Finance Bank will make its stock market debut today, 10 July 2017, after successfully concluding its initial public offer (IPO) last month. The issue price was fixed at Rs 358 per share, the top end of the Rs 355 to Rs 358 per share price band for the IPO. The IPO had received strong response from investors. It was subscribed 53.6 times. AU Small Finance Bank offers a diverse suite of banking products.

Sun Pharmaceutical Industries said that the company and one of its wholly-owned subsidiaries have entered into settlements with certain plaintiffs in re Modafinil Antitrust Litigation matter currently pending in the United States District Court for the Eastern District of Pennsylvania. The settlements extend to all claims brought by Apotex Corporation and the Retailer Purchaser Plaintiffs. The settlements remain are confidential. The announcement was made after market hours on Friday, 7 July 2017.

United Bank of India said that it proposes to approve by circulation on 12 July 2017, allotment of unsecured Basel III compliant listed Tier-2 bonds, with or without greenshoe option, aggregating upto Rs 500 crore. The announcement was made after market hours on Friday, 7 July 2017.

Alok Industries said it has been supplied with a copy of the application for resolution proceedings filed by State Bank of India, before the National Company Law Tribunal (NCLT), Ahmedabad on 29 June 2017. The hearing on this matter has been scheduled for 12 July 2017. The announcement was made after market hours on Friday, 7 July 2017.

Shares of UltraTech Cement turn ex-dividend today, 10 July 2017, for dividend of Rs 10 per share for the year ended March 2017.

Shares of Mindtree turn ex-dividend today, 10 July 2017, for final dividend of Rs 3 per share for the year ended March 2017.

Shares of Cera Sanitaryware turn ex-dividend today, 10 July 2017, for dividend of Rs 12 per share for the year ended March 2017.

Shares of Abbott India turn ex-dividend today, 10 July 2017, for final dividend of Rs 40 per share for the year ended March 2017.

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Tata Motors will be watched after commercial vehicles price cut
Jul 07,2017

Tata Motors announced price reduction in commercial vehicles (cargo) in the range of 0.3% to 4.21% and in commercial vehicles (passenger transportation) in the range of 0.6% to 8.2% post GST to pass on the benefits to its customers. The announcement was made after market hours yesterday, 6 July 2017.

HPCL announced that it has raised fixed rate senior unsecured notes aggregating to $500 million. The notes will bear interest of 4% per annum payable semi-annually commencing on 12 January 2018. The company intends to use all of the proceeds to fund capital expenditures for its ongoing and future domestic projects in accordance with the ECB guidelines of India. The announcement was made after market hours yesterday, 6 July 2017.

Shares of Lakshmi Vilas Bank turn ex-dividend today, 7 July 2017, for dividend of Rs 2.70 per share for the year ended March 2017.

Bharat Forge announced that its subsidiary, Kalyani Strategic Systems and Israel Aerospace Industries have signed a new memorandum of understanding (MoU) addressed to expand the joint venture that the companies are establishing. The new MoU covers the establishment of a maintenance center for selected advanced air defence systems at Hyderabad in Telengana. The two companies have also agreed on expanding their joint operations for development, manufacturing and marketing of precise ammunition systems. In February 2017, Israel Aerospace Industries has inked an MoU with Kalyani Strategic Systems (KSSL) on establishing a joint venture that will develop, build, market and manufacture selected Air Defence Systems and light-weight special purpose munitions, in accordance with the Indian Governments Make in India policy. The announcement was made after market hours yesterday, 6 July 2017.

Navin Fluorine International said its shareholders approved sale of unit located at Dahej in Gujarat. The announcement was made after market hours yesterday, 6 July 2017.

IDFC Bank will be watched after it refused to comment or deny reports of merger with Shriram group companies. Media reports suggested that Shriram Transport Finance, Shriram City Union Finance will merge with IDFC Bank; and Shriram Capitals Life, General insurance business will merge with IDFC.

IDFC Bank clarified after market hours yesterday, 6 July 2017, that it keeps evaluating opportunities from time to time and should anything concrete fructify, it will inform the exchanges as appropriate. At this point, there is nothing that can be disclosed. Under the circumstances, it is unable to confirm or deny the news reports. Meanwhile, it cannot comment on the market speculations.

Techno Electric & Engineering Company said that its board approved the scheme of amalgamation of the company with Simran Wind Project, a wholly-owned subsidiary of the company. The scheme will come into effect on receipt of necessary approvals for the same, including approval of the stock exchanges and such other statutory authorities as may be required. The announcement was made after market hours yesterday, 6 July 2017.

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IRB Infra in focus after achieving financial closure for BOT project
Jul 06,2017

IRB Infrastructure Developers said that its special purpose vehicle (SPV) has successfully achieved financial closure for its Udaipur-Gujarat Border 6 Laning BOT (build-operate-transfer) project. The announcement was made after market hours yesterday, 5 July 2017.

NBCC (India) said it secured total business worth approximately Rs 630 crore in June 2017. The announcement was made after market hours yesterday, 5 July 2017.

Cadila Healthcare announced its intention to enter into a long-term arrangement with Phibro Animal Health Corporation to license Phibros innovative poultry vaccine technologies and know-how to a new vaccine manufacturing facility to be built by Zydus Cadila to serve the fast growing poultry market in India. The announcement was made after market hours yesterday, 5 July 2017.

Sobha said it achieved new sales volume of 815,230 square feet (sq ft) in Q1 June 2017 valued at Rs 623.40 crore with an average realisation of Rs 7647 per sq ft. The company in its real estate operational update for Q1 said its share of sales value is Rs 562.70 crore with an average realisation of Rs 6903 per sq ft. The sales volume and total sales value are up by 12.7% and 11.9%, respectively, compared with Q4 March 2017. The announcement was made after market hours yesterday, 5 July 2017.

Om Metals Infraprojects said it sold its cineplex division, Om Cineplex Commercial Complex, for Rs 18 crore to Princess Infra and Development. The announcement was made after market hours yesterday, 5 July 2017.

Shriram EPC said it bagged order worth Rs 71 crore from Palani Temple in Tamil Nadu marking the companys foray into the transportation business. The scope of this project includes design, manufacture, supply, erection, testing, commissioning, operating and maintenance of the second ropeway to the temple that will serve 1,200 people per hour. The announcement was made after market hours yesterday, 5 July 2017.

Tanla Solutions said its board of directors, through resolution passed by circulation approved allotment of 14.83 lakh equity shares of the company, fully paid up, pursuant to conversion of warrants into equity to D. Uday Kumar Reddy, the promoter of the company. With this allotment, D. Uday Kumar Reddy has subscribed and was allotted 50 lakh equity shares upon conversion of preferential warrants. The announcement was made after market hours yesterday, 5 July 2017.

Cyient announced that it has signed a non-exclusive business alliance agreement with Kii Corporation, a leading Internet of Things (IoT) solutions enablement platform provider, to explore, bid and address business opportunities around smart city deployments. The announcement was made after market hours yesterday, 5 July 2017.

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M&M in spotlight after vehicle price revision
Jul 05,2017

Mahindra & Mahindra (M&M) announced revised prices of its vehicles pursuant to the implementation of GST, with immediate effect. The announcement was made after market hours yesterday, 4 July 2017. The prices of vehicles for end-customers on large utility vehicles (UVs) and sports utility vehicles (SUVs) have been reduced by an average of 6.9%, while those that come under small car segment have been reduced by an average of 1.4%. Similarly, end-customer prices have been reduced by an average of 1.1% for small commercial vehicles and 0.5% for LCVs and HCVs.

Since the GST rates on hybrid vehicles are significantly higher than that in the pre-GST regime, the prices for the end-customers of hybrid vehicles have been increased marginally. These price changes to end-customers will vary across states or even cities within a state, due to the differing levels of pre-GST local taxes.

The effect of the imposition of GST for tractors, which were not levied an excise duty, should be neutral given the input tax credits that would be available to original equipment manufacturers. Hence there will be no change for end-customer prices for tractors, the company said.

Shares of Timken India and ABC Bearings will be watched. The board of Timken India on 4 July 2017, approved the amalgamation of ABC Bearings with the company. As per the proposed scheme, Timken India will issue 5 equity shares for every 8 equity shares held in ABC Bearings. The transaction is expected to close in the quarter ended 31 March 2018, subject to the receipt of all approvals. The announcement was made after market hours yesterday, 4 July 2017.

ICICI Prudential Life Insurance Company, Indias only listed life insurance company, has confirmed its interest in buying the beleaguered Sahara Lifes insurance business. The company confirmed that it has expressed its interest to evaluate taking over policyholders liabilities and assets of Sahara Life. The last reported policyholders liabilities of Sahara Life is about Rs 900 crore, which is less than 1% of the companys balance sheet size. The announcement was made after market hours yesterday, 4 July 2017.

Mcnally Bharat Engineering Company said it received an order for construction of entry/exit structure of Elamkulam Station and balance works in the main station building at Elamkulam from Delhi Metro Rail Corporation for Rs 43.49 crore (approximately). The announcement was made after market hours yesterday, 4 July 2017.

Reliance Communications (RCom) will not pay outstanding interest until December 2017, on its bonds held by LIC of India, the countrys largest insurer, as the telco seeks to shed Rs 25000 crore of debt as part of a financial restructuring. The announcement was made after market hours yesterday, 4 July 2017.

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