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Natco Pharma surges 12.68% in seven sessions
Jun 09,2017

Meanwhile, the S&P BSE Sensex was down 55.08 points, or 0.18% at 31,158.28.

On the BSE, 34,000 shares were traded on the counter so far as against the average daily volumes of 34,331 shares in the past one quarter. The stock had hit a high of Rs 1,054 so far during the day which is also its record high. The stock hit a low of Rs 1,028 so far during the day. The stock had hit a 52-week low of Rs 494 on 20 June 2016.

The stock had outperformed the market over the past one month till 8 June 2017, advancing 12.62% compared with the Sensexs 4.3% rise. The scrip had also outperformed the market over the past one quarter gaining 30.11% as against the Sensexs 8% rise. The scrip had also outperformed the market over the past one year advancing 97.56% as against the Sensexs 15.52% rise.

The large-cap company has equity capital of Rs 34.86 crore. Face value per share is Rs 2.

Shares of Natco Pharma surged 12.68% in seven trading sessions to its current ruling price of Rs 1,052, from a close of Rs 933.65 on 31 May 2017.

Natco Pharmas consolidated net profit spurted 181.4% to Rs 176.70 crore on 46.5% increase in net sales to Rs 577.80 crore in Q4 March 2017 over Q4 March 2016.

Natco Pharma manufactures generic dosage forms, bulk actives and intermediates for the Indian and international markets.

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Infosys slips on buzz founders may sell stake
Jun 09,2017

Meanwhile, the S&P BSE Sensex was down 85.09 points, or 0.27% to 31,128.27.

On the BSE, 6.82 lakh shares were traded in the counter so far, compared with average daily volumes of 2.60 lakh shares in the past one quarter. The stock had hit a high of Rs 942 and a low of Rs 923.05 so far during the day. The stock hit a 52-week high of Rs 1,228.90 on 9 June 2016. The stock hit a 52-week low of Rs 900.30 on 9 November 2016.

The stock had underperformed the market over the past one month till 8 June 2017, rising 1.39% compared with 3.19% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 6.25% as against Sensexs 7.83% rise. The scrip had also underperformed the market in past one year, falling 19.33% as against Sensexs 16.63% rise.

The large-cap company has equity capital of Rs 1148.47 crore. Face value per share is Rs 5.

According to the report, the co-founders of Infosys are exploring a sale of their combined 12.75% stake in the company worth about Rs 28000 crore. This move is said to have been triggered by the promoters unhappiness over the manner in which the company has been run since their exit three years ago. Instead of a war of attrition with the companys board and management, the promoters appear to have veered around to the view that it might be better to make a complete break from the company they founded in 1981 and listed on the bourses in 1993.

Any stake sale is most likely to take place through stock market block deals, and in tranches, the report added.

Infosys co-foundersn++ Narayana Murthy, Nandan Nilekani, Kris Gopalakrishnan, SD Shibulal and K Dineshn++ hold neither executive nor non-executive roles in the company anymore. Still, their exit moves, coming at a time when the sector is facing business uncertainties, could act as an overhang on the stock price, the report said.

Infosys consolidated net profit fell 2.8% to Rs 3603 crore on 0.9% decline in revenues to Rs 17120 crore in Q4 March 2017 over Q3 December 2016.

Infosys is a global leader in technology services and consulting.

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Ceat inflates as foreign brokerage assigns outperform rating
Jun 09,2017

Meanwhile, the S&P BSE Sensex was down 96.87 points or 0.31% at 31,116.49. The BSE Mid-Cap index was down 45.32 points or 0.31% at 14,789.10.

On BSE, so far 26,000 shares were traded in the counter as against average daily volume of 1.43 lakh shares in the past one quarter. The stock hit a high of Rs 1,916.70 and a low of Rs 1,896.80 so far during the day. The stock had hit a record high of Rs 1,934.10 on 8 June 2017. The stock had hit a 52-week low of Rs 731.20 on 24 June 2016.

The mid-cap company has equity capital of Rs 40.45 crore. Face value per share is Rs 10.

A foreign brokerage has reportedly initiated coverage on the Ceat stock with an outperform rating with a price target of Rs 2,250 per share. The brokerage said that the tyre maker has a stronger brand and wider reach. The tyre industrys pricing response to cost increases is positive, it added.

Ceats consolidated net profit dropped 32.51% to Rs 66.33 crore on 5.28% growth in total income to Rs 1475.42 crore in Q4 March 2017 over Q4 March 2016.

Ceat is one of Indias leading tyre manufacturers. The company sells its tyres under the Ceat brand.

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Board of Voltas approves appointment of directors
Jun 09,2017

The Board of Directors of Voltas have approved the appointment of the following directors at meeting held on 8 June 2017 -

Arun Kumar Adhikari as Additional Director and Independent Director
Anil George, President Corporate Affairs & CFO as Additional Director and Executive Director
Pradeep Bakshi, President & COO as Additional Director and Executive Director

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Redington (India) jumps on bargain hunting
Jun 09,2017

Meanwhile, the S&P BSE Sensex was down 111.15 points, or 0.36% to 31,102.21.

On the BSE, 19,000 shares were traded in the counter so far, compared with average daily volumes of 5.81 lakh shares in the past one quarter. The stock had hit a high of Rs 143 and a low of Rs 139.95 so far during the day. The stock hit a record high of Rs 155.35 on 5 June 2017. The stock hit a 52-week low of Rs 79.70 on 9 November 2016.

The stock had outperformed the market over the past one month till 8 June 2017, rising 8.28% compared with 3.19% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 26.97% as against Sensexs 7.83% rise. The scrip had also outperformed the market in past one year, rising 32.96% as against Sensexs 16.63% rise.

The mid-cap company has equity capital of Rs 79.97 crore. Face value per share is Rs 2.

Shares of Redington (India) fell 7.48% in three trading sessions to settle at Rs 137.95 yesterday, 8 June 2017, from its close of Rs 149.10 on 5 June 2017.

Redington (India)s consolidated net profit rose 11.15% to Rs 153.32 crore on 3.06% increase in net sales to Rs 10794.98 crore in Q4 March 2017 over Q4 March 2016.

Redington (India) is a supply chain solutions provider worldwide to leading manufacturers of information technology, telecom, lifestyle and consumer electronics products.

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Greenply Inds advances as overseas unit commences production
Jun 09,2017

The announcement was made after market hours yesterday, 8 June 2017.

Meanwhile, the S&P BSE Sensex was down 14.57 points or 0.05% at 31,198.79. The S&P BSE Small-Cap index was down 36.14 points or 0.23% at 15,508.69.

On the BSE, 4,104 shares were traded on the counter so far as against the average daily volumes of 89,783 shares in the past one quarter. The stock had hit a high of Rs 276.95 and a low of Rs 271.50 so far during the day. The stock had hit a record high of Rs 309 on 6 March 2017 and a 52-week low of Rs 217.20 on 7 June 2016.

The mid-cap company has equity capital of Rs 12.26 crore. Face value per share is Re 1.

Greenply Industries said that the companys step-down subsidiary GREENPLY GABON SA, Gabon, West Africa has commenced commercial production of Veneer, at its manufacturing unit at Nkok SEZ, Gabon, West Africa.

Greenply Industries net profit rose 0.5% to Rs 41.87 crore on 0.33% decline in net sales to Rs 446.58 crore in Q4 March 2017 over Q4 March 2016.

Greenply Industries is into manufacturing and marketing of a wide range of interior infrastructure products.

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Tata Consultancy Services provides update after buyback of shares
Jun 09,2017

Tata Consultancy Services has bought back 5,61,40,350 equity shares during the tending period for the buyback that opened on 18 May 2017 and closed on 31 May 2017. These shares have been extinquished / destroyed. The equity share capital after the said extinquishment stands at 191,42,87,591.

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Outcome of board meeting of Bharat Financial Inclusion
Jun 09,2017

The Board of Directors of Bharat Financial Inclusion at its meeting held on 08 June 2017 have approved augmentation of the ESOP pool under the Companys Employees Stock Option Plan 2011 (ESOP Plan 2011) by additional 27,50,000 (Twenty-seven Lakh Fifty Thousand) stock options (which constitutes ~ 2% of the paid-up share capital as on March 31, 2017) which shall be convertible into equivalent number of equity shares having face value of Rs.10 each.

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Hydropower stocks in demand
Jun 09,2017

NHPC (up 6.98%) and SJVN (up 5.42%), edged higher.

The BSE Sensex was down 47.16 points, or 0.15% at 31,166.20.

According to reports, this is the first package for the power sector provided by the current government. This package includes a 4% interest subvention to projects with total capacity of 11,639 megawatts (MW) and the creation of a Hydro Power Development Fund. The fund would be financed with either coal cess, or from the National Clean Energy Fund or the pool for the Development of North Eastern Region (DONER).

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Sunteck Realty gains as board approves stock-split plan
Jun 09,2017

The announcement was made after market hours yesterday, 8 June 2017.

Meanwhile, the BSE Sensex was down 73.41 points, or 0.24%, to 31,139.95. The BSE Small-Cap index was up 6.14 points, or 0.04%, to 15,478.69.

On the BSE, so far 279 shares were traded in the counter, compared with average daily volumes of 81,929 shares in the past one quarter. The stock had hit a high of Rs 470 and a low of Rs 469 so far during the day. The stock hit a 52-week high of Rs 533 on 29 May 2017. The stock hit a 52-week low of Rs 173.95 on 22 November 2016.

The small-cap company has equity capital of Rs 12.60 crore. Face value per share is Rs 2.

Sunteck Realtys net profit surged 682.97% to Rs 28.97 crore on 67.99% rise in total income to Rs 130.34 crore in Q4 March 2017 over Q4 March 2016.

Sunteck Realty is a Mumbai-based real estate development company, catering to the premium ultra-luxury and luxury residential segment.

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Daily Consumer goods being used by the common man among others to become cheaper after GST
Jun 09,2017

Implementation of Goods and Services Tax (GST) on the following items will have zero rate after the GST Law comes into force on 1st July, 2017.

As a result of which these items will be available at cheaper rates to the common man at large:

1) Foodgrains and flours

a. Cereals

b. Pulses

c. Atta

d. Maida

e. Besan

Except branded ones with registered trade mark in whose case GST will be charged at the rate of 5 %.

2) Fresh milk

3) Fresh vegetables and fresh fruits

4) Puffed rice (muri)

5) Common salt

6) Animal feed

7) Organic manure

8) Fire wood

9) Raw silk/raw wool/jute

10) Hand operated agriculture equipments.

Due to no GST on these items, most of them are expected to become cheaper in the range of approximately 4-5% as compared to their existing prices.

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Shares of Spring Fields Infraventure get listed
Jun 09,2017

The equity shares of Spring Fields Infraventure (Scrip Code: 540570) are listed effective 09 June 2017 and admitted to dealings on the Exchange in the list of XT Group Securities.

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TCS in spotlight on launching launching app development kit for banks
Jun 09,2017

TCS announced the launch of BaNCS App Development Kit (ADK) that enables banks to design and build their own apps faster and seamlessly deploy across devices and desktops. The announcement was made after market hours yesterday, 8 June 2017.

Pidilite Industries announced that Pidilite USA Inc (PUSA), a wholly owned subsidiary of the company has entered into an agreement with Niteo Products LLC, USA for sale of business of the Cyclo Division of PUSA. Cyclo Division has been engaged in the business of automobile grooming, performance and maintenance products and other such products.

Some of the trademarks used by the Cyclo Divisions were owned by Pidilite International pte Ltd, Singapore, a wholly owned subsidiary of the company and the same will also stand assigned to Niteo Products LLC, USA, Pidilite said. The announcement was made after market hours yesterday, 8 June 2017.

IndusInd Bank said it raised a $225 million loan from the Overseas Private Investment Corporation (OPIC) for supporting the expansion of the banks micro, small and medium enterprise (MSME) lending programs across India. At least 25% of the proposed facility will support women entrepreneurs and reach previously unbanked populations. This eight-year loan is part of the agencys commitment to supporting $1 billion in loans to underserved Small and Medium Enterprises in India. The announcement was made after market hours yesterday, 8 June 2017.

Next Mediaworks said that the board of directors of Next Radio (NRL), the companys subsidiary, at its board meeting held on 8 June 2017, approved transfer of its FM radio broadcasting business at Ahmedabad (the undertaking ) to its wholly owned subsidiary viz. Syngience Broadcast Ahmedabad.

The board of directors of NRL has also, at the aforementioned meeting, approved the scheme of arrangement, with appointed date as 1 April 2017. The said transfer of the undertaking is subject to the approval of the National Company Law Tribunal and the Ministry of Information & Broadcasting. The announcement was made after market hours yesterday, 8 June 2017.

Zee Media Corporation announced that Mumbai Bench of National Company Law Tribunal (NCLT) at hearing held yesterday, 8 June 2017, approved the scheme of arrangement and amalgamation between Zee Media Corporation; and Diligent Media Corporation; and Mediavest India; and Pri-Media Services and Maurya TV and their respective shareholders and creditors. The announcement was made after market hours yesterday, 8 June 2017.

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Aarvee Denims & Exports closes unit in Narol, Ahmedabad
Jun 08,2017

Aarvee Denims & Exports announced that the Companys one of manufacturing unit situated at 188/2, Ranipur Village, Opp. CNI Church, Narol, Ahmedabad has been closed w.e.f. 6 June, 2017 due to closer notice issued by Gujarat Pollution Control Board (GPCB) for safety & health issues.

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Dilip Buildcon receives revision in credit ratings
Jun 08,2017

Dilip Buildcon has received revision in credit ratings from CARE for bank facilities as under -

Long term bank facilities (Rs 1998.09 crore) - CARE A+; Stable (Revised from CARE A-)

Long term / short term bank facilities (Rs 4500 crore) - CARE A+; Stable/ CARE A1 (Revised from CARE A-/ CARE A2+)

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