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Maruti Suzuki Indias Vitara Brezza achieves sales milestone
Mar 02,2017

Maruti Suzuki India announced that Vitara Brezza has crossed one lakh cumulative sales milestone in the domestic market.

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Maruti Suzuki Indias Vitara Brezza achieves sales milestone
Mar 02,2017

Maruti Suzuki India announced that Vitara Brezza has crossed one lakh cumulative sales milestone in the domestic market.

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Trigyn Tech surges after securing contract from Maryland IT dept
Mar 02,2017

The announcement was made after market hours yesterday, 1 March 2017.

Meanwhile, the S&P BSE Sensex was up 145.03 points or 0.5% at 29,129.52.

On the BSE, 9,685 shares were traded on the counter so far as against the average daily volumes of 41,453 shares in the past one quarter. The stock had hit a high of Rs 114.85 and a low of Rs 114.40 so far during the day.

The stock had hit a 52-week high of Rs 140.60 on 8 June 2016 and a 52-week low of Rs 48.60 on 29 February 2016. It had outperformed the market over the past one month till 1 March 2017, gaining 5.96% compared with the Sensexs 3% rise. The scrip had, however, underperformed the market over the past one quarter, advancing 8.16% as against the Sensexs 9.13% rise.

The small-cap company has equity capital of Rs 29.74 crore. Face value per share is Rs 10.

Trigyn Technologies, Inc, a wholly-owned subsidiary of Trigyn Technologies has been awarded a 12-year indefinite quantity fixed price & time & materials, consulting & technical services IT contract by the State of Marylands Department of Information Technology.

The contract award covers functional areas, which include, enterprise service provider, web & internet services, electronic document management, geographical information systems, software engineering, systems/facilities management and maintenance, information system security, application service provider, IT & telecommunications financial & auditing consulting services, IT management consulting services, business process consulting services, electronic benefits transfer, media & training center support and documentation/technical writing. The functional areas include 114 labor categories.

On a consolidated basis, Trigyn Technologies net profit fell 22.38% to Rs 8.08 crore on 0.71% growth in net sales to Rs 170.06 crore in Q3 December 2016 over Q2 September 2016.

Trigyn Technologies is an IT firm providing custom software solutions, managed services, staff augmentation and consulting services to clients in 16 countries across Asia, North America, Europe, and Africa.

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Bajaj Auto edges higher after posting tiny rise in February sales
Mar 02,2017

The announcement was made during market hours today, 2 March 2017.

Meanwhile, the S&P BSE Sensex was up 130.67 points or 0.45% at 29,115.16.

On the BSE, 5,604 shares were traded on the counter so far as against the average daily volumes of 16,483 shares in the past one quarter. The stock had hit a high of Rs 2,812.75 and a low of Rs 2,790 so far during the day.

The stock had hit a record high of Rs 3,122 on 9 September 2016 and a 52-week low of Rs 2,173.40 on 29 February 2016. It had underperformed the market over the past one month till 1 March 2017, sliding 2.93% compared with the Sensexs 3% rise. The scrip had also underperformed the market over the past one quarter, rising 3.27% as against the Sensexs 9.13% rise.

The large-cap company has equity capital of Rs 289.37 crore. Face value per share is Rs 10.

Bajaj Autos domestic sales fell 8% to 1.59 lakh units in February 2017 over February 2016. Exports rose 16% to 1.14 lakh units in February 2017 over February 2016.

On a consolidated basis, Bajaj Autos net profit fell 5.3% to Rs 976.82 crore on 8.6% decline in net sales to Rs 4975.56 crore in Q3 December 2016 over Q3 December 2015.

Bajaj Auto is one of the leading two-and three-wheeler manufacturers in India.

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Hero MotoCorp inches up after reporting monthly two-wheeler sales
Mar 02,2017

The announcement was made after market hours yesterday, 1 March 2017.

Meanwhile, the S&P BSE Sensex was up 122.47 points or 0.42% at 29,106.96.

On the BSE, 5,115 shares were traded on the counter so far as against the average daily volumes of 25,805 shares in the past one quarter. The stock had hit a high of Rs 3,221.90 and a low of Rs 3,191.05 so far during the day.

The stock had hit a record high of Rs 3,739.90 on 8 September 2016 and a 52-week low of Rs 2,473.85 on 29 February 2016. It had underperformed the market over the past one month till 1 March 2017, sliding 3.05% compared with the Sensexs 3% rise. The scrip had also underperformed the market over the past one quarter, advancing 0.18% as against the Sensexs 9.13% rise.

The large-cap company has equity capital of Rs 39.94 crore. Face value per share is Rs 2.

Hero MotoCorp reported a 4.75% drop in total two-wheeler sales at 5.24 lakh units in February 2017 over February 2016.

Majority of Hero two-wheelers had already been made BS IV compliant quite sometime back and the company has fully transitioned to producing only BS IV vehicles across the range from 1 March 2017.

Following the demonetisation initiative of the government in November, Hero immediately installed and activated POS machines at its retail outlets and also rolled out several other effective initiatives to enable cashless transactions, including innovative and consumer friendly financing schemes.

With improvement in the currency situation and in the consumer sentiment, Heros volumes are gradually picking up, the company said in a statement.

Hero MotoCorps net profit fell 2.7% to Rs 772.05 crore on 12.1% decline in net sales to Rs 6245.90 crore in Q3 December 2016 over Q3 December 2015.

Hero MotoCorp is the worlds largest two-wheeler manufacturer in terms of production capacity. The company has six manufacturing plants, including five in India including Dharuhera, Gurgaon, Haridwar, Neemrana and Halol and one in Colombia.

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Rane Engine Valve announces change in website
Mar 02,2017

Rane Engine Valve announced that the Company website has changed to www.ranegroup.com.

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Rane Holding announces new website
Mar 02,2017

Rane Holding announced change in website to new address - www.ranegroup.com

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Lupin advances after launching generic scalp solution in US
Mar 02,2017

The announcement was made after market hours yesterday, 1 March 2017.

Meanwhile, the S&P BSE Sensex was up 105.37 points or 0.36% at 29,104.30.

On the BSE, 11,390 shares were traded on the counter so far as against the average daily volumes of 71,234 shares in the past one quarter. The stock had hit a high of Rs 1,481.95 and a low of Rs 1,472.60 so far during the day.

The stock had hit a 52-week high of Rs 1,874.30 on 14 March 2016 and a 52-week low of Rs 1,294.05 on 29 March 2016. It had underperformed the market over the past one month till 1 March 2017, sliding 0.18% compared with the Sensexs 3% rise. The scrip had also underperformed the market over the past one quarter, declining 2.89% as against the Sensexs 9.13% rise.

The large-cap company has equity capital of Rs 90.31 crore. Face value per share is Rs 2.

Lupin announced that it has launched its Clobetasol Propionate Topical Solution USP, 0.05% having received an approval from the United States Food and Drug Administration (FDA) earlier to market a generic version of Fougera Pharmaceuticals Temovate (clobetasol propionate) Scalp Application, 0.05% in the US.

Lupins Clobetasol Propionate Topical Solution USP, 0.05% is an AT rated generic equivalent of Fougera Pharmaceuticals Temovate (clobetasol propionate) Scalp Application, 0.05%. It is indicated for short-term topical treatment of inflammatory and pruritic manifestations of moderate to severe corticosteroid-responsive dermatoses of the scalp.

Temovate Clobetasol Propionate Scalp Application had annual US sales of $64.1 million as per IMS MAT December 2016.

Lupins consolidated net profit rose 20.7% to Rs 633.11 crore on 31.5% increase in net sales to Rs 4404.94 crore in Q3 December 2016 over Q3 December 2015.

Lupin is an innovation led transnational pharmaceutical company developing and delivering a wide range of branded & generic formulations, biotechnology products and active pharmaceutical ingredients (APIs) globally. The company is a significant player in the cardiovascular, diabetology, asthma, pediatric, CNS, GI, anti-infective and NSAID space and holds global leadership position in the anti-TB segment.

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Eicher Motors edges higher after decent sales growth in February
Mar 02,2017

The announcement was made after market hours yesterday, 1 March 2017.

Meanwhile, the S&P BSE Sensex was up 95.99 points or 0.33% at 29,080.48.

On the BSE, 358 shares were traded on the counter so far as against the average daily volumes of 5,558 shares in the past one quarter. The stock had hit a high of Rs 24,019.95 and a low of Rs 23,800 so far during the day.

The stock had hit a record high of Rs 26,601.95 on 29 September 2016 and a 52-week low of Rs 17,906.80 on 18 March 2016. It had underperformed the market over the past one month till 1 March 2017, sliding 1.23% compared with the Sensexs 3% rise. The scrip had also underperformed the market over the past one quarter, advancing 6.91% as against the Sensexs 9.13% rise.

The large-cap company has equity capital of Rs 27.21 crore. Face value per share is Rs 10.

VE Commercial Vehicles is an unlisted subsidiary of Eicher Motors.

Eicher Motors during market hours yesterday, 1 March 2017, said its total motorcycles sales rose 19% to 58,439 units in February 2017 over February 2016. Exports grew by 7% to 1,702 units in February 2017 over February 2016.

Shares of Eicher Motors had fallen 6.03% in the preceding five trading sessions to settle at Rs 23,712 yesterday, 1 March 2017, from its closing price of Rs 25,234.45 on 21 February 2017, inline with a broader weakness in the S&P BSE Auto index.

On a consolidated basis, Eicher Motors net profit surged 50.03% to Rs 418.19 crore on 42.8% growth in net sales to Rs 1828.29 crore in Q3 December 2016 over Q3 December 2015.

Eicher Motors (EML) owns the iconic Royal Enfield motorcycle business, which leads the premium motorcycle segment in India. EMLs joint venture with the Volvo group, VE Commercial Vehicles (VECV) designs, manufactures and markets reliable, fuel-efficient trucks and buses.

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Glenmark Pharmaceuticals and Evestra announces strategic partnership
Mar 02,2017

Glenmark Pharmaceuticals Inc., USA, and Evestra, Inc. have completed a strategic development, license and commercialization agreement to develop and market a generic version of Mercks & Co.s NuvaRingn++ product - etonogestrel/ethinyl estradiol vaginal ring - designed to allow women access to a more affordable birth control option.

Development on the vaginal ring product is currently under way and the two companies expect to file an Abbreviated New Drug Application (ANDA) in fiscal 2019.

Evestra will develop this product exclusively for Glenmark for the U.S. market, and will receive certain milestone payments during various stages of the products development, including royalties on netsales.

Glenmark has secured exclusive marketing and distribution rights for the product, including an option to commercialize two additional Evestra vaginal ring products, for the U.S. market.

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Rane (Madras) announces new website
Mar 02,2017

Rane (Madras) has announced change in website address to www.ranegroup.com

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Tata Motors gains after reporting small rise in sales in February
Mar 02,2017

The announcement was made after market hours yesterday, 1 March 2017.

Meanwhile, the BSE Sensex was up 116.12 points, or 0.4%, to 29,100.61.

On the BSE, 69,962 shares were traded in the counter so far, compared with average daily volumes of 5.62 lakh shares in the past one quarter. The stock had hit a high of Rs 458.80 and a low of Rs 453.30 so far during the day.

Tata Motors domestic sales of Tata commercial and passenger vehicles rose 3% at 42,679 units in February 2017 over February 2016.

Tata Motors passenger vehicles, in the domestic market, recorded 12% rise in sales at 12,272 units in February 2017 over February 2016, due to continued strong demand for the Tata Tiago. The company has also received an encouraging response to its recently launched lifestyle utility vehicle (UV), Tata Hexa.

The overall commercial vehicles sales in February 2017, in the domestic market fell 1% at 30,407 units in February 2017 over February 2016. The medium & heavy commercial vehicles (MHCV) cargo segment demand has picked up due to pre-buying on account of expected price increase led by BSIV implementation from 1st April 2017.

Overall sales of Tata Motors M&HCV rose 1% at 15,031 units in February 2017 over February 2016. TML Bus sales continued to grow by 30% in February 2017, driven particularly by STU orders, supported by Intercity and Staff Application segments. Demand from schools is also gaining momentum.

Improved consumer sentiments, waning effect of demonetization and aggressive push by the market players has led to recovery of small & light commercial vehicles (S&LCV) segment volumes, this month. Sales of Tata Motors S&LCV were at 15,376 units, in February 2016.

The companys sales from exports fell 5% at 4,894 units in February 2017 over February 2016, owing to lower passenger vehicles shipment.

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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Bajaj Auto announces sales figures
Mar 02,2017

Bajaj Auto reported total sales of 273,513 units in February 2017 compared to 272,719 units in February 2016. Total sales include domestic sales at 159,109 units, recording a drop of 8% over February 2016. Exports rose 16% to 114,404 units in February 2017 over February 2016.

For the period April - February 2017, total sales stood lower by 5% at 3,393,753 units compared to corresponding period of previous year.

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Wipro completes sale of its EcoEnergy division
Mar 02,2017

Wipro has completed the sale of its EcoEnergy division on 01 March 2017. The impact of sale of EcoEnergy division is expected to reflect in the financials of Wipro for the quarter and year ending 31 March 2017.

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A Government Panel recommends legal framework for protection of interests of migrants in the country
Mar 02,2017

A Government appointed Panel has recommended necessary legal and policy framework to protect the interests of the migrants in the country, stating that the migrant populationmakes substantial contribution to economic growth and their Constitutional rights need to be secured.

The Working Group on Migration set by the Ministry of Housing & Urban Poverty Alleviationin 2015 who submitted their Report to the Government today held extensive discussions with Minister of HUPA Shri M.Venkaiah Naidu.

The Working Group has recommended that the Protocols of the Registrar General of India needs to be amended to enable caste based enumeration of migrants so that they can avail the attendant benefits in the States to which migration takes place. It also recommended that migrants should be enabled to avail benefits of Public Distribution System (PDS) in the destination State by providing for inter-State operability of PDS.

Referring to Constitutional Right of Freedom of Movement and residence in any part of the territory of the country, the Group suggested that States should be encouraged to proactively eliminate the requirement of domicile status to prevent any discrimination in work and employment. States are also to be asked to include migrant children in the Annual Work Plans under Sarva Siksha Abhiyan (SSA) to uphold their Right to Education.

Noting that money remittances of migrants was of the order of Rs.50,000 cr during 2007-08, the Working Group suggested that the vast network of post offices need to be made effective use of by reducing the cost of transfer of money to avoid informal remittences. It also suggested that migrants should be enabled to open bank accounts by asking banks to adhere to RBI guidelines regarding Know Your Customer (KYC) norms and not insist on documents that were not required.

The Group suggested that the hugely underutilized Construction Workers Welfare Cess Fund should be used to promote rental housing, working Women Hostels etc., for the benefit of migrants.

Quoting data of Census 2011 and National Sample Survey Organisation (NSSO), the Group stated that migrants constitute about 30% of the countrys population and also of the total working force.

The recent Economic Survey noted that annual migration in the country increased from 3.30 million in 2011 to 9.00 million in 2016.

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