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Biocon tumbles on observations by French health regulator
Jul 10,2017

Meanwhile, the S&P BSE Sensex was up 194.34 points or 0.62% at 31,554.97.

On the BSE, 6.49 lakh shares were traded on the counter so far as against the average daily volumes of 1.34 lakh shares in the past one quarter. The stock had hit a high of Rs 336 and a low of Rs 305 so far during the day. The stock had hit a record high of Rs 396 on 25 April 2017 and a 52-week low of Rs 229.66 on 19 July 2016.

The stock had outperformed the market over the past one month till 7 July 2017, advancing 1.27% compared with the Sensexs 0.29% rise. The stock had, however, underperformed the market over the past one quarter, declining 7.9% as against the Sensexs 5.57% rise. The scrip had outperformed the market over the past one year, surging 38.33% as against the Sensexs 15.29% rise.

The large-cap company has equity capital of Rs 300 crore. Face value per share is Rs 5.

In a stock exchange filing on Sunday, 9 July 2017, Biocon said the French inspecting authority (ANSM) conducted pre-approval inspection audits of the companys Bangalore drug substance and drug product sites related to the pending EMA Marketing Authorization Applications for Trastuzumab, Pegfilgrastim and related to Insulin Glargine (pen assembly only).

While there were no critical observations mentioned in the final report, ANSM notified Biocon that the receipt of a GMP compliance certificate for the drug product facility will require a follow up inspection from ANSM to verify implementation of the proposed corrective and preventive actions (CAPAs).

ANSM has reviewed the proposed CAPA plan and Biocon is progressing towards completion of the implementation of these CAPAs. Biocon, with its partner Mylan, will work with the French and European regulatory authorities with regard to the follow-up inspection of the drug product facility and the Marketing Authorization Applications with the goal of an early re-inspection.

ANSM has issued GMP compliance certificates for Biocons two drug substance manufacturing facilities in Bangalore. This is important as the drug substance manufacture is core to the production of the actual biologic product in GMP compliance, Biocon said in a statement.

On a consolidated basis, net profit of Biocon declined 61.7% to Rs 127.50 crore on 1.5% decline in net sales to Rs 919.20 crore in Q4 March 2017 over Q4 March 2016.

Biocon is Indias largest and fully-integrated, innovation-led biopharmaceutical company.

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IDFC, Shriram group shares slide on merger plan
Jul 10,2017

IDFC was down 3.51%. IDFC Bank was up 1.08%. Shriram Transport Finance Corporation (down 6.64%), and Shriram City Union Finance (down 5.01%), edged lower.

Meanwhile, the S&P BSE Sensex was up 217.42 points, or 0.69% at 31,578.05.

The boards of IDFC Group and Shriram Group on 8 July 2017 approved entering into a confidentiality, exclusivity and standstill agreement to evaluate a potential combination of certain businesses and subsidiaries / affiliates/associate companies of the Shriram Group engaged in the credit and non-credit financial services sector with the IDFC Group. The agreement primarily provides for a mutually agreed exclusivity period for due diligence and discussions between the relevant parties in relation to the potential combination.

The proposed potential combination would be subject to due diligence, definitive documentation and applicable board, shareholder, statutory/ regulatory and other third party approvals, as may be applicable.

According to media reports, IDFC will be the holding company of the merged entity. Shriram City Union Finance will be merged with IDFC Bank and Shriram Transport Finance will be a fully-owned subsidiary of IDFC, which will also own 75% of the life and general insurance arms of Shriram Capital.

Reports added that Shriram Group has a loan book of over Rs 80000 crore while IDFC and its banking arm IDFC Bank together have loan book of over Rs 60000 crore. The total assets of the merged entity will cross Rs 9 lakh crore.

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KEC International advances after securing orders
Jul 10,2017

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

Meanwhile, the S&P BSE Sensex was up 209.35 points, or 0.67% at 31,569.98. The S&P BSE Mid-Cap index was up 53.15 points, or 0.36% at 14,994.92.

On the BSE, 1.23 lakh shares were traded on the counter so far as against the average daily volumes of 1.06 lakh shares in the past one quarter. The stock had hit a high of Rs 277.05 and a low of Rs 270 so far during the day. The stock had hit a record high of Rs 283.50 on 1 June 2017 and a 52-week low of Rs 111.20 on 9 November 2016.

The stock had outperformed the market over the past one month till 7 July 2017, advancing 0.32% compared with the Sensexs 0.29% rise. The scrip had also outperformed the market over the past one quarter advancing 24.59% as against the Sensexs 5.57% rise. The scrip had also outperformed the market over the past one year advancing 85.47% as against the Sensexs 15.29% rise.

The mid-cap company has equity capital of Rs 51.42 crore. Face value per share is Rs 2.

KEC International said that of the total new orders of Rs 1845 crore, the companys transmission & distribution business secured order worth Rs 1684 crore in India and the Americas. The cables business received orders of Rs 161 crore.

Vimal Kejriwal, MD & CEO, KEC International, said that the order book in its core transmission & distribution business has strengthened significantly with the above order wins. The company has successfully diversified its customer base to include private developers and other clients in addition to the current power utilities. The company has a very strong order book and a healthy L1 position, Kejriwal said.

KEC Internationals consolidated net profit rose 90.5% to Rs 145.56 crore on 11.3% increase in net sales to Rs 2849.20 crore in Q4 March 2017 over Q4 March 2016.

KEC International is a global infrastructure engineering, procurement and construction (EPC) major. It has presence in the verticals of power transmission and distribution, cables, railways, renewables and civil.

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AU Small Finance Bank sees strong debut
Jul 10,2017

Meanwhile, the S&P BSE Sensex was up 199.48 points or 0.64% at 31,560.11.

The stock debuted at Rs 525, a premium of 46.65% over its issue price. The stock had hit a high of Rs 544 and a low of Rs 506.80 so far during the day. On the BSE, 1.92 crore shares were traded so far on the counter.

The IPO had received strong response from investors. It was subscribed 53.6 times. The price band for the IPO was fixed at Rs 355-358 per share.

AU Small Finance Bank initiated its operations in 1996 as retail focused non-banking finance company (NBFC) in Jaipur serving low and middle-income individuals and businesses having limited or no access to formal banking and finance channels. The company received a license from the Reserve Bank of India to set up a Small Finance Bank (SFB) along with nine other such entities on 30 December 2016 and recently commenced SFB operations with effect from 19 April 2017.

As an NBFC, the company operated in three business lines - vehicle loans, micro, small and medium enterprises (MSMEs) loans, and small and medium enterprises (SMEs) loans. After commencing SFB operations, the company has expanded and strengthened its business model to offer a diverse suite of banking products and services by leveraging asset-based lending strengths, NBFC customer base and cost efficient technology driven hub and spoke branch operating model.

The company has a network of 301 NBFC branches (bank has 269 branches, 121 asset centers, one central processing center and 10 offices end May 2017) spread across 10 states and one union territory in India, with significant presence in the states of Rajasthan, Gujarat, Maharashtra and Madhya Pradesh end March 2017. It plans to set up an additional 162 bank branches and seven central processing centers in FY2018.

AU Small Finance Bank reported profit after tax of Rs 842.71 crore on income from operations of Rs 1416.99 crore in the year ended March 2017.

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Sun Pharma advances after settling antitrust litigation in US
Jul 10,2017

The announcement was made after market hours on Friday, 7 July 2017.

Meanwhile, the S&P BSE Sensex was up 206.30 points or 0.66% at 31,566.93.

On the BSE, 2.45 lakh shares were traded on the counter so far as against the average daily volumes of 4.91 lakh shares in the past one quarter. The stock had hit a high of Rs 567.30 and a low of Rs 552 so far during the day. The stock had hit a 52-week high of Rs 854.50 on 5 August 2017 and a 52-week low of Rs 493 on 29 May 2017.

The stock had outperformed the market over the past one month till 7 July 2017, advancing 7.54% compared with the Sensexs 0.29% rise. The stock had, however, underperformed the market over the past one quarter, declining 17.42% as against the Sensexs 5.57% rise. The scrip had also underperformed the market over the past one year, declining 29.29% as against the Sensexs 15.29% rise.

The large-cap company has equity capital of Rs 239.93 crore. Face value per share is Rs 1.

Sun Pharmaceutical Industries (Sun Pharma) 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.

On a consolidated basis, net profit of Sun Pharmaceutical Industries declined 16.7% to Rs 1385.57 crore on 8% decline in net sales to Rs 6825.16 crore in Q4 March 2017 over Q4 March 2016.

Sun Pharmaceutical Industries is the worlds fourth largest specialty generic pharmaceutical company and Indias top pharmaceutical company.

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Tata Motors heads north after good JLR sales
Jul 10,2017

The announcement was made after market hours on Friday, 7 July 2017.

Meanwhile, the S&P BSE Sensex was up 196.24 points or 0.63% at 31,556.87.

On the BSE, 27,000 shares were traded on the counter so far as against the average daily volumes of 18.80 lakh shares in the past one quarter. The stock had hit a high of Rs 457.50 and a low of Rs 441.70 so far during the day. The stock had hit a 52-week high of Rs 598.60 on 7 September 2016 and a 52-week low of Rs 417.10 on 8 May 2017.

The stock had underperformed the market over the past one month till 7 July 2017, sliding 4.62% compared with the Sensexs 0.29% rise. The stock had also underperformed the market over the past one quarter, declining 6.67% as against the Sensexs 5.57% rise. The scrip had also underperformed the market over the past one year, declining 4.05% as against the Sensexs 15.29% rise.

The large-cap company has equity capital of Rs 577.47 crore. Face value per share is Rs 2.

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.

On a consolidated basis, net profit of Tata Motors declined 16.8% to Rs 4336.43 crore on 2.9% decline in net sales to Rs 77217.19 crore in Q4 March 2017 over Q4 March 2016.

Tata Motors is a market leader in commercial vehicles in India. The companys British luxury unit Jaguar Land Rover (JLR) sells premium luxury cars.

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Intellect Design Arena drops after announcing rights issue
Jul 07,2017

Meanwhile, the S&P BSE Sensex was down 8.71 points, or 0.03% at 31,360.63. The S&P BSE Small-Cap index was up 41.09 points, or 0.26% at 15,830.76.

On the BSE, 1.81 lakh shares were traded on the counter so far as against the average daily volumes of 1.11 lakh shares in the past one quarter. The stock had hit a high of Rs 128.55 and a low of Rs 121.10 so far during the day. The stock had hit a 52-week high of Rs 233 on 28 July 2016 and a 52-week low of Rs 107.75 on 15 February 2017.

The small-cap company has equity capital of Rs 50.90 crore. Face value per share is Rs 5.

Intellect Design Arena said that the companys board has approved rights issue of equity shares for upto Rs 198.97 crore in ratio of 5 rights equity shares for 22 equity shares held. The issue price is Rs 86 per share and 18 July 2017 is fixed as record date for rights issue. The rights issue will open on 26 July 2017 and close on 9 August 2017.

Intellect Design Arena reported net loss of Rs 24.93 crore in Q4 March 2017, compared with net loss of Rs 22.06 crore in Q3 December 2016. Total income rose 10.58% to Rs 144.18 crore in Q4 March 2017 over Q3 December 2016.

Intellect Design Arena is engaged in the business of software development, and providing software product license and related services.

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Solar Industries advances after bulk deal
Jul 07,2017

Meanwhile, the S&P BSE Sensex was down 11.04 points or 0.04% at 31,358.30. The S&P BSE Mid-Cap index was down 2.55 points or 0.02% at 14,944.80.

Bulk deal boosted volume on the scrip. On BSE, so far 3.78 lakh shares were traded in the counter as against average daily volume of 16,111 shares in the past one quarter. The stock hit a high of Rs 906.60 and a low of Rs 815 so far during the day. The stock had hit a record high of Rs 909 on 5 April 2017. The stock had hit a 52-week low of Rs 589.50 on 22 August 2016.

The stock had underperformed the market over the past one month till 6 July 2017, falling 0.6% compared with 0.31% rise in the Sensex. The scrip underperformed the market in past one quarter, falling 0.52% as against Sensexs 5.60% rise. The scrip, however, outperformed the market in past one year, gaining 26.50% as against Sensexs 15.32% rise.

The mid-cap company has equity capital of Rs 18.10 crore. Face value per share is Rs 2.

Solar Industries India consolidated net profit rose 26.8% to Rs 54.93 crore on 7.22% rise in total income to Rs 446.47 crore in Q4 March 2017 over Q4 March 2016.

Solar Industries India manufactures and exports civilian explosives and detonators.

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Hindustan Foods hits the roof after bagging orders
Jul 07,2017

The announcement was made during trading hours today, 7 July 2017.

Meanwhile, the S&P BSE Sensex was up 26.44 points, or 0.08% to 31,395.78.

On the BSE, 2,556 shares were traded in the counter so far, compared with average daily volumes of 799 shares in the past one quarter. The stock had hit a low of Rs 173 in intraday trade. The stock hit a record high of Rs 228.80 on 6 February 2017. The stock hit a 52-week low of Rs 91.40 on 8 July 2016.

The stock had outperformed the market over the past one month till 6 July 2017, rising 12.37% compared with 0.31% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 1.11% as against Sensexs 5.60% rise. The scrip had outperformed the market in past one year, rising 66.81% as against Sensexs 15.32% rise.

The small-cap company has equity capital of Rs 12.99 crore. Face value per share is Rs 10.

Hindustan Foods received the orders from Reliance Brands (under Steve Madden brand) and Arvind Lifestyle Brands (under US Polo & Arrow brands).

In December 2016, Hindustan Foods had acquired certain moveable and immovable assets of Ponds Export, a subsidiary of Hindustan Unilever. Post this acquisition, the company started manufacturing leather shoe uppers and accessories at Puducherry. The company has been able to integrate the operations and has managed the transition without any disruption of supplies to the European Customers.

Net profit of Hindustan Foods declined 55.23% to Rs 0.77 crore on 277.88% rise in net sales to Rs 17.08 crore in Q4 March 2017 over Q4 March 2016.

Hindustan Foods manufactures cereal-based food products and a range of instant mixes, baby foods, instant porridges, breakfast cereals and health drinks.

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TTML soars on reports of likely merger with Airtel
Jul 07,2017

Meanwhile, the S&P BSE Sensex was up 26.05 points, or 0.08% to 31,395.39.

On the BSE, 35,000 shares were traded in the counter so far, compared with average daily volumes of 8.14 lakh shares in the past one quarter. The stock had hit a high of Rs 689.45 and a low of Rs 670.30 so far during the day. The stock hit a 52-week high of Rs 10.48 on 2 March 2017. The stock hit a 52-week low of Rs 5.42 on 30 September 2016.

The stock had outperformed the market over the past one month till 6 July 2017, rising 10.93% compared with 0.31% rise in the Sensex. The scrip had underperformed the market in past one quarter, falling 2.14% as against Sensexs 5.60% rise. The scrip had also underperformed the market in past one year, rising 1.53% as against Sensexs 15.32% rise.

The small-cap company has equity capital of Rs 1954.93 crore. Face value per share is Rs 10.

According to reports, Tata Group and Bharti Enterprises have held exploratory talks to evaluate a mega alliance involving their telecom, overseas cable & enterprise services, and direct-to-home TV businesses.

Discussions between both sides have revolved around a possible merger between Tata Teleservices, Tata Sky and Tata Communications with the Sunil Mittal-owned Bharti Airtel, which includes its wholly-owned DTH arm, reports added.

Telecom major Bharti Airtel was up 0.94% at Rs 385. Tata Communications was down 0.63% at Rs 671.40.

Tata Teleservices (Maharashtra) reported net loss of Rs 1365.57 crore in Q4 March 2017 as against net loss of Rs 21.98 crore in Q4 March 2016. Net sales declined 18.60% to Rs 596.53 crore in Q4 March 2017 over Q4 March 2016.

Tata Teleservices (Maharashtra) (TTML) spearheads the Tata groups presence in the telephony sector in the telecom circles of Maharashtra (including Mumbai). The company offers integrated telecom solutions to its customers across wireline and wireless networks on GSM, CDMA & 3G platforms.

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Volumes jump at Varun Beverages counter
Jul 07,2017

Varun Beverages clocked volume of 8.23 lakh shares by 13:51 IST on BSE, a 196.43-times surge over two-week average daily volume of 4,000 shares. The stock rose 3.35% to Rs 542.60.

Indian Hotels Company notched up volume of 14.21 lakh shares, a 75.13-fold surge over two-week average daily volume of 19,000 shares. The stock rose 0.94% to Rs 128.30.

Kirloskar Oil Engines saw volume of 2.05 lakh shares, a 42.99-fold surge over two-week average daily volume of 5,000 shares. The stock shed 0.83% to Rs 393.15.

Solar Industries India clocked volume of 3.73 lakh shares, a 31.71-fold surge over two-week average daily volume of 12,000 shares. The stock rose 3.84% to Rs 853.50.

Vinyl Chemicals (India) saw volume of 5.81 lakh shares, a 31.58-fold rise over two-week average daily volume of 18,000 shares. The stock jumped 16% to Rs 89.90.

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RBL Bank drops after announcing fresh issue of shares
Jul 07,2017

The announcement was made during market hours today, 7 July 2017.

Meanwhile, the S&P BSE Sensex was down 25 points or 0.08% at 31,344.34

On BSE, so far 5.56 lakh shares were traded in the counter as against average daily volume of 2.83 lakh shares in the past one quarter. The stock hit a high of Rs 524.50 and a low of Rs 508.90 so far during the day. The stock had hit a record high of Rs 600 on 3 May 2017. The stock had hit a record low of Rs 273.70 on 31 August 2016.

The large-cap bank has equity capital of Rs 376.72 crore. Face value per share is Rs 10.

RBL Bank said that the banks board has approved the proposal to issue 3.26 crore equity shares on preferential basis to the one or more investors at Rs 515 per equity share totalling to Rs 1680 crore. The investors include ABG Capital, CDC Group PLC, Global IVY Ventures LLP, HDFC Standard Life Insurance Company, ICICI Lombard General Insurance Company, LTR Focus Fund, Multiples Private Equity Fund II LLP, Plenty CI Fund I, Plenty Private Equity Find I and Steadview Capital Mauritius.

The purpose of this capital raise is to augment the banks tier 1 capital for supporting the future organic growth of business as well as enabling the bank to capitalize on inorganic opportunities and for other general corporate purposes, RBL Bank.

RBL Banks net profit rose 54.59% to Rs 130.13 crore on 35.17% growth in total income to Rs 1222.87 crore in Q4 March 2017 over Q4 March 2016.

RBL Bank is a private sector bank. It currently services over two million customers through a network of 237 branches and 375 ATMs spread across 16 Indian states and Union Territories.

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Shriram City Union Finance biggest loser on BSEs A group
Jul 07,2017

Shriram City Union Finance slipped 4.37% at Rs 2,409.95. The stock topped the losers in A group. On the BSE, 3,276 shares were traded on the counter so far as against the average daily volumes of 419 shares in the past two weeks.

Intellect Design Arena declined 4.87% at Rs 122. The stock was the second biggest loser in A group. On the BSE, 1.13 lakh shares were traded on the counter so far as against the average daily volumes of 86,000 shares in the past two weeks.

Edelweiss Financial Services fell 2.74% at Rs 193.45. The stock was the third biggest loser in A group. On the BSE, 10.34 lakh shares were traded on the counter so far as against the average daily volumes of 2.48 lakh shares in the past two weeks.

Bharti Infratel skid 2.43% at Rs 404.90. The stock was the fourth biggest loser in A group. On the BSE, 23,000 shares were traded on the counter so far as against the average daily volumes of 91,000 shares in the past two weeks.

Page Industries tumbled 1.83% at Rs 17,070. The stock was the fifth biggest loser in A group. On the BSE, 181 shares were traded on the counter so far as against the average daily volumes of 1,183 shares in the past two weeks.

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Tea stocks sizzle on hopes of firm prices
Jul 07,2017

Assam Company (India) (up 7.54%), Jay Shree Tea & Industries (up 4.74%), Warren Tea (up 2.41%), McLeod Russel India (up 4.23%), Goodricke Group (up 3.24%), Diana Tea (up 0.67%), James Warren Tea (up 2.05%), Rossel India (up 2.76%), Dhunseri Tea & Industries (up 0.8%), Andrew Yule & Company (up 3.59%) and Tata Global Beverages (up 2.02%) edged higher.

Meanwhile, the S&P BSE Sensex was down 39.19 points, or 0.12% to 31,330.15

As per reports, initial indicators showed that average auction prices for Darjeeling tea in the first week of June rose to Rs 360.66/kg in 2017 from Rs 346.6/kg in 2016. Leaf plucking and processing activities have been suspended since the second week of June, following the political strife in the region.

A research report indicated that the current political unrest in Darjeeling is likely to impact the production and exports of the premium tea.

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Confidence Petroleum corrects on profit booking
Jul 07,2017

Meanwhile, the S&P BSE Sensex was down 51.26 points, or 0.16% to 31,318.08.

On the BSE, 2.72 lakh shares were traded in the counter so far, compared with average daily volumes of 6.52 lakh shares in the past one quarter. The stock had hit a high of Rs 17.64 and a low of Rs 16.77 so far during the day. The stock hit a 52-week high of Rs 17.97 on 6 July 2017. The stock hit a 52-week low of Rs 4.87 on 7 July 2016.

The stock had outperformed the market over the past one month till 6 July 2017, rising 35.77% compared with 0.31% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 123.14% as against Sensexs 5.60% rise. The scrip had also outperformed the market in past one year, rising 260.20% as against Sensexs 15.32% rise.

The small-cap company has equity capital of Rs 25.88 crore. Face value per share is Re 1.

Shares of Confidence Petroleum India rose 26.89% in nine trading sessions to settle at Rs 17.65 yesterday, 6 July 2017, from its close of Rs 13.91 on 22 June 2017.

Recent rise in the stock was triggered by the company winning orders worth Rs 361.96 crore for supplying LPG cylinders. The announcement was made during trading hours on Wednesday, 5 July 2017. Shares of Confidence Petroleum India hit an upper circuit limit of 5% to settle at Rs 17.27 on 5 July 2017.

Confidence Petroleum India will supply 30,16,352 LPG cylinders. The orders have been awarded by the BPCL, HPCL and Indian Oil Corporation, with an option of order for equivalent quantity next year, the company said in a statement.

On a consolidated basis, Confidence Petroleum India reported net loss of Rs 0.10 crore in Q4 March 2017 as against net profit of Rs 0.01 crore in Q4 March 2016. Net sales rose 69.74% to Rs 157.55 crore in Q4 March 2017 over Q4 March 2016.

Confidence Petroleum India is manufacturer of liquefied petroleum gas (LPG) cylinders for domestic, as well as commercial use.

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