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Infosys may edge higher after strong revenue growth guidance
Apr 18,2016

Shares of IT major Infosys may edge higher after the company forecast revenue growth for the year ending 31 March 2017 (FY 2017) that would exceed growth for the software services industry. At the time of announcement of Q4 March 2016 results on Friday, 15 April 2016, when the stock market was closed for a holiday, Infosys said that it expects revenue growth of 11.8%-13.8% for FY 2017 in US dollar terms. In constant currency terms, the company has forecast 11.5%-13.5% growth in revenue for FY 2017. Infosys revenue growth forecast is higher than 10% to 12% growth for the IT outsourcing sector for FY 2017 forecast by IT industry body National Association of Software and Services Companies (Nasscom) in February this year. Infosys has forecast 12.7%-14.7% growth in revenue in rupee terms for FY 2017 based on rupee dollar exchange rate of 66.26 as on 31 March 2016. The rupee dollar exchange rate stood at 66.64 on 13 April 2016.

After the strong revenue growth guidance for FY 2017, Infosys ADR jumped 8.4% to settle at $20 on the New York Stock Exchange on Friday, 15 April 2016. Infosys consolidated net profit rose 3.8% to Rs 3597 crore on 4.1% growth in revenue to Rs 16550 crore in Q4 March 2016 over Q3 December 2015. The results are as per International Financial Reporting Standards (IFRS).

Infosys said that the employee attrition reduced further in Q4 March 2016. On annualized basis, the employee attrition rate declined to 17.3% in Q4 March 2016 from 18.1% in Q3 December 2015.

TCS announced on Saturday, 16 April 2016 that it had received a jury verdict in a recently completed jury trial in a lawsuit filed by Epic Systems in the court of Western District Madison, Wisconsin. It is expected that the trial judgement will be entered in the case in the next six to eight weeks, following which the parties can file an appeal within 30 days after the judgement is filed, TCS said. The jurys verdict on liability and damages was unexpected as the company believes they are unsupported by the evidence presented during the trial, TCS said. The company added that it did not misuse or derive any benefit from downloaded documents from Epic Systems user-web portal. TCS said it plans to defend its position vigorously in appeals to higher courts. The company said it appreciates the trial judges announcement from the bench that he is almost certain he will reduce the damages award. The jury verdict will not have any impact on the companys Q4 March 2016 and FY 2016 financial results, TCS said. The company is set to announce its Q4 March 2016 results today, 18 April 2016.

Reliance Industries (RIL) announced before market hours today, 18 April 2016 that the SEZ refinery of the company is planning to shut down one crude distillation unit for routine maintenance & inspection activities from 1 May 2016, for about 3 weeks. The other three crude distillation units including all secondary processing units are expected to operate at normal throughput at Jamnagar refinery complex, RIL said. The company said it does not anticipate any impact on its commercial commitments.

Bharat Heavy Electricals (Bhel) announced that it has bagged an order worth Rs 282 crore from NTPC for setting up a 50 megawatts (MW) solar photovoltaic (SPV) power plant in Mandsaur in Madhya Pradesh on engineering, procurement and construction (EPC) basis. The project is scheduled for completion in twelve months. The announcement was made on Thursday, 14 April 2016, when the stock market was closed for a holiday.

ITC will be in focus after the company on Friday, 15 April 2016, announced that consequent upon a High Court order passed in favour of the company, the company will soon resume manufacture of cigarettes in its factories. Early this month, ITC announced temporary closure of manufacturing operations at all its cigarette factories in India with effect from 1 April 2016 due to lack of clarity on the quantum of mandatory pictorial health warning on cigarette packages.

Stocks of public sector oil marketing companies (PSU OMCs) will be in focus after announcing reduction in prices of both petrol and diesel with effect from the midnight of 15/16 April 2016. Indian Oil Corporation (IOCL) has cut the retail-selling price of petrol by 74 paise per litre in Delhi, with corresponding price revision in other states. After the latest price reduction, the price of petrol in Delhi stands at Rs 61.13 a litre. The price of diesel has been cut by Rs 1.30 per litre in Delhi, with corresponding price revision in other states. After the latest price reduction, the price of diesel in Delhi stands at Rs 48.01 a litre.

Stocks of PSU OMCs, oil exploration and production (E&P) companies and aviation firms will be in spotlight on slump in crude oil prices. Brent for June settlement was currently down $1.92 a barrel at $41.18 a barrel after talks over the weekend between the worlds largest oil producing countries in Doha failed to produce a deal to freeze output aimed at boosting sagging crude prices. The contract had declined 74 cents or 1.68% to settle at $43.10 a barrel during the previous trading session.

Mahindra & Mahindra (M&M) expects vehicle prices to rise as the automobile industry adheres to various safety and emission norms announced by the regulator. According to M&M, complying with safety norms would mean an average cost of Rs 25,000 to Rs 30,000 per vehicle and complying with BSVI norms would increase the price by around Rs 1.50 lakh per vehicle (approximate cost increase of Rs 90,000 plus taxes) based on current technologies for complying with these norms. M&Ms Executive Director and Group President, Auto and Farm Equipment Sectors & Member of the Group Executive Board Dr. Pawan Goenka said in an interaction with auto industry analysts on 13 April 2016 that the capex requirement for M&M for BSVI compliance would be around Rs 500 crore. There will be additional capex to be incurred at the vendors end, he said.

Goenka said that the company is working on a range of gasoline engine options. The company intends to launch gasoline options for its sports utility vehicles Scorpio and XUV500 within the next 12 months. KUV100 has received good response from customers. Currently, KUV100 has a waiting period of 6-8 weeks. The gasoline variant of KUV100 has received good response and contributes to about 45% of KUV100 sales.

Goenka expects the ongoing momentum in M&Ms exports growth to continue with the neighboring markets as well as Africa and South American markets.

With regard to the tractors business, Goenka said that the company is very well poised to take advantage of the expected growth in the tractors industry in India with a strong launch of its Yuvo series (5 tractor models) in the mainstream segment of 30-45 hp which accounts for 80% of the tractors market size. The Yuvo has been developed after significant understanding of customer insights, he said.

National Aluminium Company (Nalco) announced that a meeting of the board of directors of the company will be held on 22 April 2016, inter alia, to consider the proposal for alteration in Articles of Association of the company and buyback of the fully paid-up equity shares of the company. The announcement was made after market hours on Wednesday, 13 April 2016.

JK Tyre & Industries announced that it has completed the acquisition of Cavendish Industries (Cavendish) from its existing shareholder Kesoram Industries and the deal stands finally concluded. JK Tyre has acquired 64% equity shares of Rs 10 each (fully paid) of Cavendish. Cavendish has thus become a subsidiary of the company. The remaining equity shares of Cavendish have been acquired by associates/group companies of JK Tyre & Industries, the company said. The announcement was made after market hours on Wednesday, 13 April 2016.

International Paper APPM announced that there would be annual outage from 15 April 2016 to 26 April 2016 (both days inclusive) at the companys manufacturing facility located in Kadiyam, East Godavari District, Andhra Pradesh. The announcement was made after market hours on Wednesday, 13 April 2016.

Bal Pharma announced that its board of directors at a meeting held on 13 April 2016, inter alia, approved the allotment of 13 lakh equity shares of Rs 10 each with a premium of Rs 52 per share of the company on preferential allotment basis to investors upon conversion of equivalent number of warrants. The announcement was made after market hours on Wednesday, 13 April 2016.

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L&T in focus as L&T Infotech files fresh papers with Sebi for IPO
Apr 13,2016

L&T announced that its subsidiary Larsen & Toubro Infotech (L&T Infotech) has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) yesterday, 12 April 2016, in order to undertake an initial public offer (IPO) of its equity shares of face value of Re 1 each. The offer comprises of an offer for sale (OFS) of up to 1.75 crore equity shares by L&T. The announcement was made after market hours yesterday, 12 April 2016.

Mahindra & Mahindra (M&M) announced that credit rating agency ICRA has reaffirmed its rating of [ICRA] AAA (stable) and [ICRA] A1+ for non-convertible debenture programme and bank facilities of the company. The announcement was made after market hours yesterday, 12 April 2016.

Kaveri Seed Company announced that it has opened a new plant at Karimnagar district in Telangana. This plant has an installed capacity of 10 to 20 tonnes (paddy/maize) of production per hour based on the crop. The new plant is scheduled to commence operations in the first week of May 2016. G. V. Bhaskar Rao, Managing Director of Kaveri Seed said that the new plant will enhance the existing capacity of seed process to meet the growing demand from the markets. The announcement was made after market hours yesterday, 12 April 2016.

Lux Industries board of directors at its meeting held yesterday, 12 April 2016, approved 5-for-1 stock split. The announcement was made after market hours yesterday, 12 April 2016.

The Reserve Bank of India (RBI) yesterday, 12 April 2016, notified that the foreign shareholding through Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) in JKumar Infra Projects and Inox Leisure has crossed the permissible limit. Therefore, no further purchase of shares of these companies would be allowed through stock exchanges in India on behalf of FII/RFPIs.

Further, RBI notified that the foreign shareholding by Non-Resident Indians (NRIs) in Southern Ispat & Energy has reached the trigger limit. Therefore, further purchases of equity shares of this company would be allowed only after obtaining prior approval of RBI.

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Tata Steel in focus on plan to sell part of UK business to Greybull Capital
Apr 12,2016

Tata Steel said that Tata Steel UK announced the signing of an agreement to sell its long products Europe business to the family investment office, Greybull Capital. The sale for a nominal consideration, would be in exchange for Greybull Capital taking on the whole of the business, including assets and relevant liabilities, and securing an appropriate funding package, Tata Steel said. The deal would be completed once a number of outstanding conditions have been resolved, including transfer of contracts, certain government approvals and the satisfactory completion of financing arrangements, it said. The sale covers several UK-based assets including the Scunthorpe steelworks, two mills in Teesside, an engineering workshop in Wokington, a design consultancy in York, and associated distribution facilities, as well as a mill in northern France, Tata Steel said. The announcement was made after market hours yesterday, 11 April 2016.

Dr Reddys Laboratories announced buyback offer after trading hours yesterday, 11 April 2016. The company has set aside a maximum amount of Rs 1569.41 crore for the buyback offer, which is 14.9% of the total paid up share capital and free reserves of the company as on 31 March 2015. The maximum buyback price is fixed at Rs 3,500 per equity share. The number of equity shares bought back will not exceed 25% of the total paid up equity capital of the company.

At the maximum buyback price and for maximum buyback size, the indicative maximum number of equity shares bought back would be 44.84 lakh equity shares. If the equity shares are bought back at a price below the maximum buyback price, the actual number of equity shares bought back could exceed the indicative maximum buyback shares but will always be subject to the maximum buyback size.

Further, the company will utilize at least 50% of the amount earmarked as the maximum buyback size for the buyback i.e. Rs 784.70 crore. Based on the minimum buyback size and the maximum buyback price, the company will purchase an indicative minimum of 22.42 lakh shares, Dr. Reddys Laboratories said.

BPCL announced that its board of directors at a meeting held yesterday, 11 April 2016, approved the proposal to acquire Petronet Indias (PIL) 26% equity stake in Petronet CCK (PCCKL) at a total cost of Rs 78.60 crore. PCCKL is a subsidiary company promoted by BPCL and PIL. PCCKL owns and operates a petroleum product pipeline from Kochi to Karur in Tamil Nadu via Coimbatore for transportation of petroleum products. Currently, BPCL has a stake of 73.96% in the equity capital of PCCKL and PIL has a stake of 26% while the balance is held by financial institutions (Fis). Post completion of acquisition, BPCLs holding in PCCKL will go up to 99.96%. The announcement was made after market hours yesterday, 11 April 2016.

Separately, BPCL announced after market hours yesterday, 11 April 2016 that its board of directors approved the proposal to seek shareholders consent by way of postal ballot for increasing the ceiling of investment by foreign institutional investors in the company by up to 49% from 24% in one or more tranches subject to regulatory authorities approval.

Adani Ports and Special Economic Zone (APSEZ) announced that it has raised Rs 500 crore by allotment of 5,000 rated, listed, secured, taxable, redeemable, non-convertible debentures (NCDs) of face value of Rs 10 lakh each on private placement basis. The NCDs will be listed on the wholesale debt market segment of BSE. The announcement was made after market hours yesterday, 11 April 2016.

Mahindra & Mahindra (M&M) announced that credit rating agency CARE has reaffirmed its CARE AAA and CARE A1+ ratings assigned to the long term & short term bank facilities of the company. The announcement was made after market hours yesterday, 11 April 2016.

Bharti Airtel announced that its subsidiary Airtel M Commerce Services (AMSL) has been granted payments bank license from Reserve Bank of India yesterday, 11 April 2016. The announcement was made after market hours yesterday, 11 April 2016.

TTK Prestige announced that its wholly owned UK subsidiary TTK British Holdings entered into an agreement for acquisition of branded kitchenware business in UK (target). The target is a branded player with a century old existence, TTK Prestige said. The names of the brands involved will be shared on completion of acquisition, it added. The target has experienced marketing, sales and distribution strengths, TTK Prestige said. The target does not have any manufacturing base but outsources all of its requirements from third party manufacturers, TTK Prestige said. The target company has sales of 18 million GBP per annum with double-digit earnings before interest, taxation, depreciation and amortization (EBITDA) margin, TTK Prestige said. This business offers potential for a long-term global presence for TTK Prestige in UK and Europe through its subsidiary, the company said. TTK Prestige, over the medium term, plans to leverage its domestic manufacturing capacities to cater to these branded segments, it said. The consolidated financials are expected to result in superior turnover, profits and return on capital employed (ROCE) for TTK Prestige, the company said in a statement. The announcement was made after market hours yesterday, 11 April 2016.

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Bharti Airtel will be watched after acquiring 4G spectrum from Aircel
Apr 11,2016

Telecom major Bharti Airtel said it will pay Rs 3500 crore to acquire rights to use 4G spectrum of Aircel in eight telecom circles. Bharti Airtel and its subsidiary, Bharti Hexacom, have on 8 April 2016 entered into a definitive agreements with Aircel and its subsidiaries Dishnet Wireless and Aircel Cellular (together Aircel) to acquire rights to use 20 megahertz (MHz) 2300 Band 4G TD spectrum for eight circles namely, Tamil Nadu (including Chennai); Bihar, Jammu & Kashmir, West Bengal, Assam, North East, Andhra Pradesh and Orissa at an aggregate consideration of Rs 3500 crore. The announcement was made after market hours on Friday, 8 April 2016.

The spectrum was allotted to Aircel and Dishnet by the Government of India, Ministry of Communication & IT, Department of Telecommunication (DoT) and is valid upto 20 September 2030. The transfer of the right to use for the circles of Andhra Pradesh and Orissa is subject to the revision of spectrum caps with the upcoming auction to be conducted by DoT. With the above acquisition, Bharti Airtel will become pan India 4G operator. The closing of the transaction is subject to satisfaction of the standard conditions as are normal to such transactions, Bharti Airtel said in a statement.

Tata Steel announced after market hours on Friday, 8 April 2016, that it completed the year ended March 2016 with an overall increase in production and sales volumes. The year registered its best ever performance in hot metal, crude steel, saleable steel production and total sales. Hot Metal production rose 1.42% to 27.14 lakh tonnes in Q4 March 2016 over Q4 March 2015. Crude Steel production rose 4.88% to 25.60 lakh tonnes in Q4 March 2016 over Q4 March 2015. Saleable Steel production rose 6.57% to 25.46 lakh tonnes in Q4 March 2016 over Q4 March 2015.

Infosys will be watched. Aberdeen Asset Management Asia has reduced its shareholding in Infosys by selling 56.26 lakh shares, or 0.24% equity, in the IT major on 7 April 2016. Aberdeen Asset Management Asia now holds 7.01 crore shares, or 3.04% stake in Infosys. The disclosure was made after market hours on Friday, 8 April 2016.

Sun Pharmaceutical Industries announced on Saturday, 9 April 2016, that one of its wholly owned subsidiaries has received approval from US Food and Drug Administration (USFDA) for its non-steroid drug BromSite used to treat inflammation and prevent pain in patients undergoing cataract surgery.

Rupa & Company announced after market hours on Friday, 8 April 2016, that its wholly-owned subsidiary, Oban Fashions, on 7 April 2016, entered into a definitive license agreement with French Connection to develop, manufacture and sell innerwear and related products with the brand name FCUK in India.

Bannari Amman Sugars announced on Saturday, 9 April 2016, that its board will meet on 25 April 2016 to consider a proposal to take over Madras Sugars by way of amalgamation.

Narayana Hrudayalaya announced on Saturday, 9 April 2016, that it commenced operations at its newest hospital Shri Mata Vaishno Devi Narayana Superspeciality Hospital in Katra at Udhampur district of Jammu and Kashmir on 8 April 2016.

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HUL in focus after completing acquisition of hair oil brand Indulekha
Apr 08,2016

Hindustan Unilever (HUL) announced that it has completed the acquisition of Masons Group flagship hair oil brand Indulekha. The announcement was made after market hours yesterday, 7 April 2016. It may be recalled that in December 2015, HUL had announced signing an agreement with Masons Group for acquisition of its flagship Indulekha brand.

State Bank of India and ICICI Bank yesterday, 7 April 2016 reportedly announced reduction in home loan interest rates following implementation of a new interest rate calculation regime mandated by RBI. SBI cut its lending rate for home loans by 0.20% at 9.4% for women customers and at a rate 0.25% to 9.45% for others under the Marginal Cost of Funds based Lending Rate (MCLR) system effective retrospectively from 1 April 2016. ICICI Banks minimum home loan rates are also at par with SBI as both the 1-year MCLR and the spread over it are same, reports indicated. However ICICI Banks effective rate of interest will reportedly go up to 9.65% for loans above Rs 5 crore taken by women borrowers under floating interest rate.

National Buildings Construction Corporation (NBCC) said that the company has secured a total business of about Rs 226.96 crore in the month of March 2016 under the Project Management Consultancy (PMC) segment and the total work secured during the financial year ended 31 March 2016 amounted to about Rs 17516.53 crore. The announcement was made after market hours yesterday, 7 April 2016.

Tata Power announced after trading hours yesterday, 7 April 2016, that the Appellate Tribunal for Electricity (APTEL) has decided against providing compensatory tariff to the companys 100% subsidiary, Coastal Gujarat Power (CGPL). CGPL controls the 4,000 MW Ultra Mega Power Project (UMPP) at Mundra, Gujarat.

APTEL, while pronouncing the order, also remarked that Central Electricity Regulatory Commission (CERC) has no power to grant compensatory tariffs. However, APTEL, has thrown back the case to CERC. It has asked the commission to decide the tariff as per power purchase agreements (PPAs) and under force majeure or change in law. CERC has also been directed to conclude the exercise as expeditiously as possible, but certainly within a period of 3 months from 7 April 2016.

The case was being fought in APTEL between Tata Power and Adani Power with state utilities of Gujarat, Rajasthan, Maharashtra, Punjab and Haryana. The three-year-old tariff pertains to pass through of cost escalation due to change in imported coal prices and regulations in the Indonesian coal market. Both Tata Mundra UMPP and Adani power plant run on imported coal.

In an order dated February 2014, CERC decided a compensatory tariff to be paid by the states procuring power to the two power companies with effect from the commissioning date of the units. The compensatory tariff was over and above the tariff agreed in the power purchase agreement.

Tata Powers Mundra UMPP in Mundra was awarded compensatory tariff at 52 paise per unit over the remaining life of the project.

Indian Oil Corporation (IOC) will be watched. Media reports suggested that IOC is looking at buying equity stake in Nagarjuna Groups six million tonnes a year Cuddalore refinery in Tamil Nadu. IOC, however, clarified after trading hours yesterday, 7 April 2016, that there is no such proposal under consideration by the company at present and the news item is speculative in nature.

Separately, Nagarjuna Oil Refinery clarified after trading hours yesterday, 7 April 2016, that various prospective investors, including public sector companies such as IOC have sought information on the project. These prospective investors have been provided with the information from time to time, it added.

Simplex Projects said it sold 16.31 lakh shares, or 51.21% equity, in its wholly-owned subsidiary, Simpark Infrastructure on 31 March 2016. The announcement was made after trading hours yesterday, 7 April 2016.

Zee Media Corporation (ZMCL) announced after trading hours yesterday, 7 April 2016, that Rohit Gandhi who is heading ZMCLs English News Channel - WION as Editor-in-chief, will additionally take over the role of Editor-in-Chief of DNA, its leading English mainline daily. Additionally, Shreyasi Goenka, who has been mentoring the content at DNA for a while, will now take the responsibility of Content Advisor and will guide all functions of DNA. Uday Nirgudkar who has been heading DNA along with Zee 24 Taas, will now continue to lead Zee 24 Taas as its Business Head. The new appointments will come into effect from 7 April 2016. All editorial functions will henceforth report into Rohit Gandhi.

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PSU OMCs, telecom stocks in focus
Apr 07,2016

Shares of PSU OMCs Indian Oil Corporation (IOCL), BPCL and HPCL may edge higher after the Union Cabinet decided to give oil PSUs the freedom to evolve their own policies on import of crude oil. This measure will increase the operational and commercial flexibility of oil PSUs and enable them to adopt the most effective procurement practices for import of crude oil, according to a government statement. The announcement hit the market after trading hours yesterday, 6 April 2016.

Telecom stocks will be in focus after the Union Cabinet yesterday, 6 April 2016, approved the modifications in the policy for liberalisation of administratively allotted spectrum where market determined prices are not available. This will facilitate optimal utilisation of spectrum by introducing new technologies and sharing and trading of spectrum. The most recent recommended reserve price will be taken as the provisional price for liberalisation of administratively allocated spectrum where auction determined price is not available. Subsequent to the completion of the ensuing auction and with the availability of auction-determined price, the provisional price already charged will be adjusted with the auction-determined price with effect from the date of liberalisation on pro-rata basis. The announcement of the modifications in the policy for liberalisation of administratively allotted spectrum hit the market after trading hours yesterday, 6 April 2016.

Maruti Suzuki India after market hours yesterday, 6 April 2016, announced that it has introduced the automatic transmission option for the Zeta petrol variant of its premium hatchback Baleno. The Baleno Zeta (automatic CVT) petrol variant is priced at Rs 7.47 lakh ex-showroom Delhi. With this automatic transmission options are available on Delta and Zeta trim of Baleno. Maruti said it has sold over 44,000 Baleno cars through its premium retail channel NEXA across India. The model has pending orders for 55,000 units. Baleno is also the first model by Maruti Suzuki to be exported to Japan. Going forward Maruti Suzuki plans to export the model to more than 100 countries from India.

Sun Pharmaceutical Industries (Sun Pharma) will be in spotlight after the ratings agency CARE has withdrawn the ratings assigned to the non-convertible debenture (NCD) issue and bank facilities of the company with immediate effect at the request of the company. Sun Pharma has fully repaid the amount under the NCD issue and there is no amount outstanding under the issue as on date, CARE said. The ratings agency said it has also received no objection certificates from the banks for withdrawal of ratings based on which the ratings assigned to the bank facilities have been withdrawn. Sun Pharma made the announcement after market hours yesterday, 6 April 2016.

ABB India will be watched. ABB India and Welspun Energy have together installed about 700 megawatts (MW) of solar photovoltaic projects across several states in India like Punjab, Rajasthan, Gujarat, Maharashtra, Karnataka and Tamil Nadu. This includes a key project of 52 MW for Maharashtra State Generation Company at Baramati, which was the first ever PPP (public-private partnership) project in the industry, in the country. The announcement was made after market hours yesterday, 6 April 2016.

Religare Enterprises said that it has raised Rs 425 crore through issue of zero coupon unsecured unlisted non-convertible debentures (NCDs) with 12% yield on private placement basis. The allotment was made on 6 April 2016. The NCDs have maturity of 3 years from the date of allotment. The announcement was made after market hours yesterday, 6 April 2016.

Nava Bharat Ventures said it entered into an agreement for renewal of conversion arrangement of chrome ore into ferro chrome, with Tata Steel for a period of 4 years commencing from April 2016. The company will produce up to 70,000 MT of high carbon ferro chrome per annum at its Odisha ferro alloy plant. The announcement was made after market hours yesterday, 6 April 2016.

Brigade Enterprises announced its Mysuru Mane Habba event from 8th to 10th April 2016 at the Grand Mercure Mysuru Hotel in Mysuru. The three-day event will showcase the companys 30+ offerings across South India. The event will showcase the companys residential properties under various stages of development. It will give prospective buyers an opportunity to take a pick from a wide array of properties at different price points and avail mega deals on these three days. Price offers range from 1 lakh to 25 lakhs off on the Brigade properties for these three days only. Buyers booking properties during the three-day event would also enjoy assured gold vouchers on every booking. The announcement was made after market hours yesterday, 6 April 2016.

Diamond Power Infrastructure will be watched. Kotak Mahindra Bank said that its subsidiary, Kotak Mahindra (International) (KMIL), a foreign portfolio investor (FPI), has acquired 38.68 lakh equity shares, or 6.8% equity, of Diamond Power Infrastructure at Rs 23.65 each, aggregating to Rs 9.16 crore. The announcement was made after market hours yesterday, 6 April 2016.

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Hindustan Zinc in focus on turning ex-dividend
Apr 06,2016

Shares of Hindustan Zinc turn ex-dividend today, 6 April 2016 for special dividend of Rs 24 per share for the year ended 31 March 2016. Before turning ex-dividend, the stock offered a dividend yield of 12.83% based on the stocks closing price of Rs 187.05 on the BSE yesterday, 5 April 2016. It may be recalled that the companys board of directors at a meeting held on 30 March 2016, declared a special golden jubilee dividend of Rs 24 per share for the financial year ended 31 March 2016.

Lupin said it appointed Dr. Kurt Nielsen as President of Lupin - Somerset. Kurt will be responsible for overall operations of the Gavis-Novel Somerset business and will be based out of Somerset, New Jersey. With the successful closure/completion of the Gavis acquisition earlier this month, Lupin now has the 5th largest Abbreviated New Drug Application (ANDA) pipeline pending approval with the US Food and Drug Administration putting it in a formidable position in the US, making this role critical to the overall growth and expansion of the company, it added. The announcement was made after market hours yesterday, 5 April 2016.

Havells India said that credit ratings agency, CARE, has upgraded its rating on the companys long-term bank facilities to CARE AAA (Triple A). Further, CARE has reaffirmed its rating on the companys short-term bank facilities to CARE A1+ (A One Plus). The announcement was made after market hours yesterday, 5 April 2016.

ABG Shipyard said that its board of directors will meet on 8 April 2016 to discuss general corporate issues, strategy for induction of strategic investor/partner and authorize monitoring institution on behalf of corporate debt restructuring (CDR) lenders to appoint investment banker to identify a strategic investor/partner, etc. The announcement was made after market hours yesterday, 5 April 2016.

Kalpataru Power Transmission said that its listed subsidiary, JMC Projects (India), has received second provisional certificate (provisional commercial operation date) to start operations of toll plaza - 2 of Rewa-MP / UP Border (NH-7) road project of its wholly owned subsidiary, Vindhyachal Expressway. The project is now fully operational on full toll length basis. Further, tolling operation of its jointly controlled entity namely Kurukshetra Expressway has been fully restored to its normalcy since last month. The announcement was made after market hours yesterday, 5 April 2016.

GM Breweries board of directors at its meeting held yesterday, 5 April 2016, has recommended a bonus issue of shares in the ratio of 1:4 i.e. one bonus share for every four shares held. The announcement was made after market hours yesterday, 5 April 2016.

Indosolar said that its board of directors will meet on 8 April 2016 to consider of change in the terms of 95 lakh zero coupon non cumulative non-convertible redeemable preference shares to 95 lakh compulsorily convertible preference shares. The announcement was made after market hours yesterday, 5 April 2016.

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Auto, banking and realty stocks in spotlight ahead of RBI monetary policy review
Apr 05,2016

Interest rate sensitive realty and auto stocks will be in focus ahead of RBI monetary policy review. Purchases of both residential and commercial property are largely driven by finance. Purchases of cars, utility vehicles and commercial vehicles are largely driven by finance.

Bank stocks will be in spotlight as the Reserve Bank of India (RBI) will announce the First Bi-monthly Monetary Policy Statement, 2016-17 at 11:00 IST today, 5 April 2016. Market expectations are that the RBI will cut its benchmark lending rate viz. the repo rate by atleast 25 basis points today, 5 April 2016, with the government sticking to its fiscal deficit target for year 2016-17 in the Union Budget 2016-17 on 29 February 2016. The governments announcement of a reduction in interest rates on small savings schemes for Q1 June 2016 and dovish comments from US Federal Reserve Chairwoman Janet Yellen have reinforced market expectations of a rate cut from the RBI. In a speech in New York on 29 March 2016, Yellen stressed a need for a cautious stance on interest-rate increases in the backdrop of global economic slowdown.

Shares of public sector oil marketing companies (PSU OMCs) will be watched after announcing a hike in petrol and diesel prices. Indian Oil Corporation (IOCL) yesterday, 4 April 2016, announced an increase in the price of petrol and diesel with effect from the midnight of 4/5 April 2016. Petrol price was hiked by Rs 2.19 per litre and diesel price was raised by 98 paise a litre at Delhi (including state levies) with corresponding price revision in other states. After the latest revision, petrol in Delhi costs Rs 61.87 per litre and diesel costs Rs 49.31 a litre.

Power Grid Corporation of India (PGCIL) after market hours yesterday, 4 April 2016, announced that its board at its meeting held on 2 April 2016 approved eight proposals involving an outlay of Rs 3322.60 crore.

Adani Enterprises said that its coal mine project in Australia won mining lease. Welcoming the approval, the company said that the granting of a mining lease helps deliver the company certainty with respect to timelines, while moving to the next phase of the project, subject to the resolution of legal challenges by politically-motivated activists. Adani said it will continue to finalise second-tier approvals with the clear aim of commencing construction in calendar year 2017. In the coming months, Adani and its partners will provide additional detail regarding the next steps for the logistics and labour requirements of the project, it said. The announcement was made after trading hours yesterday, 4 April 2016.

Adani Group initiated the Carmichael coal project in 2010 with plans to develop a coal mine and a rail link with Abbot Point port, but the project soon ran into opposition from environmentalists. In February 2016, Adani Group had secured the approval of the Queensland government for the $16.5 billion Carmichael mine project in the states Galilee Basin, amid protests from environmental activists in Australia.

Fiem Industries said that the company has received a letter of intent worth Rs 23.92 crore for an order from Paschimanchal Vidyut Vitran Nigam, Meerut (UP). The announcement was made before trading hours today, 5 April 2016.

IFCI said it made a partial disinvestment of 1.50 lakh equity shares of National Stock Exchange of India (NSE) at Rs 3,950 each. The announcement was made after trading hours yesterday, 4 April 2016.

New Delhi Television (NDTV) said it received an order from the income tax department (IT department) calling an investment by an investor a sham transaction and has raised a tax demand of Rs 47.27 crore for the assessment year 2007-2008. Based on the legal advice received from senior counsel, NDTV believes that the said order is untenable and misconceived. The company said it will challenge the order before the appropriate forum and believes that it has a strong chance of success in such proceedings. The announcement was made after trading hours yesterday, 4 April 2016.

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Kotak Mahindra Bank in focus after setting MCLR
Apr 04,2016

Kotak Mahindra Bank announced lending rates based on marginal cost of funds to be effective from Friday, 1 April 2016. Kotak Mahindra Banks Marginal Cost of Funds based Lending Rate (MCLR) for overnight loans will be 8.9%, for one month will be 9% and for three months will be 9.25%. The MCLR on 6-month loans will be 9.4% and for one-year loans the rate would be 9.6%, the bank said. The MCLR on two-year loans will be 9.65% and for three-year loans the rate would be 9.65%, the bank said. The announcement was made after market hours on Friday, 1 April 2016.

Tata Steel announced on Saturday, 2 April 2016 that the sharp fall in international steel prices and the challenging conditions facing the global steel industry triggered a review of Tata Steels credit rating by Fitch. The companys long-term foreign currency issuer default rating (IDR) has been downgraded by 1 notch.

ITC on Saturday, 2 April 2016 said that the company has been compelled to shut its cigarette factories with effect from 1 April 2016 until clarity emerges in the current uncertain state of the rules on health warning.In 2009, the Central Government introduced pictorial health warning on cigarette packages. The implementation of any change in the health warnings on the cigarette packages is an elaborate process for the manufacturers, entailing months of preparation involving substantialcost and effort, ITC said. Since the matter of new health warning was under the Parliamentary Committees consideration, and the Government had itself held out that it would await the Committees report, the industry was led to believe that the Government would re-notify new health warnings after considering the Committees recommendations, the company said. Further, the question of the legality of the new warnings has been and continues to be pending before the Court, it added. In this situation, the company, as any prudent person would, did not commit to wasting substantial resources in creating the large number of cylinders and other tools necessary for a change-over of the warnings. As a result, the company is at present not in readiness to print the health warnings as now once again notified, ITC said.

Godrej Consumer Products (GCPL) on Saturday, 2 April 2016 announcedthat it has entered into an agreement to acquire Strength of Nature LLC (SON), a leading company of hair care products for women of African descent. This acquisition is a further step to accelerate GCPLs global 3 by 3 strategy and scale up its presence in Africa by being at the forefront of serving the hair care needs of women of African descent. GCPLs 3 by 3 strategy aims at scaling up the the companys international presence in emerging markets in Asia, Africa and Latin America through 3 core categories viz. hair care, home care and personal care. The acquisition is expected to be EPS accretive for GCPL from year one itself.

HCL Technologies announced on Saturday, 2 April 2016, an agreement to acquire (through demerger) all of the business of Geometric, except for the 58% stake that Geometric owns in the joint venture-3DPLM Software Solutions, with Dassault Systemes. In consideration of this acquisition, HCL will issue 10 equity shares of Rs 2 each to Geometric shareholders for every 43 equity shares of Geometric of Rs 2 each held by them. In total, HCL will issue 1.56 crore equity shares of Rs 2 each. The transaction is expected to be accretive on cash earnings per share, HCL said. Geometric is one of Indias leading PLM consulting, mechanical engineering and manufacturing engineering services providers. The acquisition strengthens HCLs presence significantly in the PLM consulting as well as mechanical and manufacturing engineering space. It also significantly strengthens HCLs automotive and industrial practices.

The acquisition would take place through a scheme of arrangement which would be subject to the approval of the High Courts at Mumbai and Delhi in addition to the approval of the regulatory authorities.

Coal India and its subsidiaries on provisional basis achieved 101% of targeted production at 59.19 million tonnes in March 2016. Coal India and its subsidiaries on provisional basis achieved 94% of targeted offtake at 49.12 million tonnes in March 2016. The announcement was made after market hours on Friday, 1 April 2016.

Hero MotoCorps sales rose 14% to 6.06 lakh units in March 2016 over March 2015. The announcement was made after market hours on Friday, 1 April 2016.

Tata Motors total commercial and passenger vehicles sales (including exports) rose 1% to 53,057 units in March 2016 over March 2015. The companys domestic sales of Tata commercial and passenger vehicles fell 1% to 46,701 units in March 2016 over March 2015. The announcement was made after market hours on Friday, 1 April 2016.

TVS Motor Company announced 10.19% rise in total sales to 2.32 lakh units in March 2016 over March 2015. Exports fell 26.88% to 31,121 in March 2016 over March 2015. Total two wheeler sales increased by 13.3% to 2.26 lakh units in March 2016 over March 2015. Scooters sales of the company grew by 24.7% to 68,171 units in March 2016 over March 2015. Three wheeler of the company fell 46.03% to 5,874 units in March 2016 over March 2015. The announcement was made after market hours on Friday, 1 April 2016.

Infibeam Incorporation makes its debut on the bourses today, 4 April 2016. The company has fixed issue price of Rs 432 per share. The Rs 450-crore initial public offer (IPO) of Infibeam Incorporation received tepid response from institutional investors. The IPO received good response from the non-institutional investors (NII) category. The NII category was subscribed 2.23 times and the retail investors category was subscribed 1.31 times. The Qualified Institutional Buyers (QIBs) category was subscribed 86% or 0.86 times. Overall, the IPO was subscribed 1.11 times. Infibeam Incorporation is an e-commerce company focused on developing an integrated and synergistic e-commerce business model.

Lloyds Metals and Energy said that a meeting of the board of directors of the company will be held on 14 April 2016, to consider stock-split proposal. The announcement was made after market hours on Friday, 1 April 2016.

Simplex Castings said that the company has received an order from Mazagon Dock Shipbuilders Limited and Garden Reach Shipbuilders & Engineers Limited worth about Rs 22.00 crore and about Rs 8 crore from Jindal Rail Infrastructure. Mazagon Dock Shipbuilders, a government of India undertaking is the leading defence shipyard in the country and Garden Reach Shipbuilders & Engineers is the premier Warship building company in India, under the administrative control of Ministry of Defence. Jindal Rail Infrastructure (JRIL) is a 100% subsidiary of Jindal ITF, set up for manufacture of Railway Rolling Stock. The announcement was made after market hours on Friday, 1 April 2016.

Adani Power said that a meeting of the board of directors of the company will be held on 6 April 2016, to consider and approve for offer and issue of warrants convertible into equity shares / equity shares on preferential basis to promoter and / or promoter group of the company. The announcement was made after market hours on Friday, 1 April 2016.

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Bank stocks in spotlight as MCLR comes into effect today, 1 April 2016
Apr 01,2016

Bank stocks will be in focus as banks move towards marginal cost of funds based lending rates (MCLR), which comes into effect today, 1 April 2016. As per Reserve Bank of Indias (RBI) new norms, which comes into effect today, 1 April 2016, interest rate on advances will be based on marginal cost of funds.

Punjab National Bank (PNB) announced lending rates based on marginal cost of funds to be effective from today, 1 April 2016. PNBs Marginal Cost of Funds based Lending Rate (MCLR) for overnight loans will be 9.15%, for one month will be 9.2% and for three months will be 9.3%. The MCLR on 6-month loans will be 9.35% and for one-year loans the rate would be 9.4%, the bank said. MCLR for three-year loans would be at 9.55% and loans with five-year maturity would carry an MCLR of 9.7%, the bank said. The announcement was made after market hours yesterday, 31 March 2016.

Bank of India said that the bank has allotted 46.39 lakh equity shares to General Insurance Corporation of India on preferential basis on 30 March 2016 at Rs 86.22 per share. The announcement was made after market hours yesterday, 31 March 2016.

Stocks of auto companies will be in focus as companies start unveiling monthly sales volume data for March 2016 from today, 1 April 2016.

Shares of Aurobindo Pharma, Bharti Infratel, Eicher Motors and Tata Motors Ltd. (DVR) will enter the Nifty 50 index with effect from today, 1 April 2016. Cairn India, Punjab National Bank and Vedanta will be dropped from the index with effect from today, 1 April 2016. Tata Motors Ltd. (DVR) enters as an additional stock, making the Nifty index a basket of 51 stocks rather than 50 stocks from today, 1 April 2016.

Shares of companies engaged in exploration & production of natural gas may extend losses after the Petroleum Planning & Analysis Cell (PPAC) attached to the Ministry of Petroleum & Natural Gas announced a reduction in locally produced natural gas price for the six-month period April-September 2016. The price has been cut by almost 20% to $3.06 per million British thermal units (mmBtu) on gross calorific value (GCV) basis for the period 1 April 2016 to 30 September 2016 from $3.82 per mmBtu for the period from 1 October 2015 to 31 March 2016. PPAC made the announcement after trading hours yesterday, 31 March 2016. Shares of ONGC, Oil India and Cairn India edged lower yesterday, 31 March 2016, after media reports suggested that the gas price will be cut by about 20% after the half-yearly price review.

Separately, PPAC set the ceiling price at $6.61 per mmBtu on GCV basis for the gas produced from deepwater, ultra deepwater and high pressure-high temperature areas for the six-month period 1 April 2016 to 30 September 2016. It may be recalled that the government last month finalized proposal to grant marketing, including pricing freedom for the gas produced from deepwater, ultra deepwater and high pressure-high temperature areas in its bid to boost gas exploration and production in the country. The higher pricing for gas produced from deepwater, ultra deepwater and high pressure-high temperature areas is expected to result in estimated additional gas production of around 35 mmscmd. The countrys present gas production is around 90 mmscmd.

JSW Steel said that CARE has revised its long term rating for the bank facilities and non-convertible debentures of the company downward by one notch from CARE AA to CARE AA-. The short term rating has been reaffirmed at CARE A1+ which is the highest rating in the category. The announcement was made after market hours yesterday, 31 March 2016.

Federal-Mogul Goetze (India) said that the company has disposed off 26% equity holding comprising of 2.60 lakh equity shares held in Real Captive Power (RCP) for a consideration of Rs 26 lakh to Suraksha Buildwell LLP. The announcement was made after market hours yesterday, 31 March 2016.

Dishman Pharmaceuticals and Chemicals said that company has acquired further 50% stake in Schutz Dishman Biotech, a joint venture (JV) Indian company, from the existing JV partner i.e. SCHUTZ & CO. BETEILIGUNGSGESELLSCHAFT MBH, Germany for a consideration of EURO 300,000. Schutz Dishman Biotech (Schutz Dishman), is engaged in the business of manufacturing of bulk drugs, drug formulations and performance chemicals in India for export markets. Its plant is USFDA approved and is located in the existing campus of Dishmans Bavla manufacturing facility in Ahmedabad. The acquisition will help the company in backward integration for some of its existing products and for manufacturing other APIs. Presently, the company is holding 22.33% stake in Schutz Dishman and after acquisition of further 50% stake, Schutz Dishman will become subsidiary of the company.

ABM Knowledgeware said that the company has fixed 11 April 2016 as the record date for 5-for-1 stock split proposal. The announcement was made after market hours yesterday, 31 March 2016.

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PSU OMCs, aviation firms will be watched ahead of fuel price review
Mar 31,2016

Shares of public sector oil marketing companies (PSU OMCs) will be in focus as a regular fuel price review is due today, 31 March 2016. PSU OMCs review fuel prices twice a month based on the trend in international oil market and currency movement. The first review takes place during the middle of the month and the last review at the month-end.

Shares of aviation firms will be in focus as a regular jet fuel price review is due today, 31 March 2016. PSU OMCs revise jet fuel prices on the last day of the month based on the average imported oil price during the month. Prices of jet fuel or aviation turbine fuel (ATF) constitutes approximately 50% of operating expenses of Indian airlines.

Shares of infrastructure companies will be in focus after the Reserve Bank of India (RBI) in a notification issued yesterday, 30 March 2016, allowed all companies engaged in the infrastructure sector to raise external commercial borrowings (ECB) under Track I of the framework with minimum average maturity period of five years, subject to 100% hedging. Companies in infrastructure sector shall utilize the ECB proceeds raised under Track I for the end uses permitted for this Track, the RBI said.

Mahindra & Mahindra (M&M) announced that rating agency CRISIL has reaffirmed its ratings on the companys long-term bank facilities and non-convertible debenture (NCD) programme at CRISIL AAA/Stable and for short-term facilities and commercial paper programme at CRISIL A1+. The announcement was made after market hours yesterday, 30 March 2016.

Punjab National Bank (PNB) said that rating agency CARE has downgraded its ratings on the banks Tier I and upper Tier II bonds to CARE AA+ from earlier rating of CARE AAA, mainly on account of the impairments in the credit portfolio. PNB said it has not accepted the downward revision by CARE. The announcement was made after market hours yesterday, 30 March 2016.

Vijaya Bank announced that the allotment committee of the board has accorded approval for allotment of 7.34 crore equity shares of Rs 10 each at a premium of Rs 20.75 per share (total issue price of Rs 30.75 per share) by way of preferential issue to the tune of upto Rs 226 crore to Life Insurance Corporation of India. The announcement was made after market hours yesterday, 30 March 2016.

IIFL Holdings announced that it has acquired 26.86 lakh equity shares having face value of Rs 10 each constituting 1.13% of the equity share capital of India Infoline Finance (IIFL), the non banking financial subsidiary of the company, from Bennett Coleman & Company at fair value as certified by an independent chartered accountant. Pursuant to acquisition, IIFL becomes a 100% subsidiary of IIFL Holdings. The announcement was made after market hours yesterday, 30 March 2016.

IL&FS Transportation Networks (ITNL) said that the committee of directors had approved the allotment of 4,250 rated, listed, redeemable, non-convertible debentures of face value of Rs l0 lakh each aggregating to Rs 425 crore on a private placement basis. The announcement was made after market hours yesterday, 30 March 2016.

Nesher Pharmaceuticals, a subsidiary of Zydus Pharmaceuticals USA has received its first ANDA approval from the USFDA to market Dextroamphetamine IR Tabs. The drug falls in the CNS stimulant segment and is the first product to be developed by the R&D team at Nesher. The drug will be produced at the manufacturing facility based at St. Louis, Missouri, USA. The estimated US sales for Dextroamphetamine IR Tabs is $40.6 million as per IMS. The announcement was made after market hours yesterday, 30 March 2016.

Hindustan Zinc said that the board of directors of the company at its meeting held yesterday, 30 March 2016, has declared special golden jubilee dividend of Rs 24 per share for the financial year ending 31 March 2016. The announcement was made after market hours yesterday, 30 March 2016. The stock offered a dividend yield of 13.7% based on the stocks closing price of Rs 175.15 on the BSE yesterday, 30 March 2016.

Natco Pharma said that the board of directors of the company at its meeting held yesterday, 30 March 2016, has approved the sale of Save Mart Pharmacy Stores located in USA which is a non-core business of the company. The Save Mart Pharmacy Stores is being owned by Natco Pharma Inc., a wholly owned subsidiary of the company. The announcement was made after market hours yesterday, 30 March 2016.

Dewan Housing Finance Corporation said that the company has made an investment of Rs 75 crore by way of subscription to equity share capital in DHFL Advisory and Investments (WOS), a newly incorporated wholly owned subsidiary of the company. The WOS proposes to use this money for making investments in DHFL Pramerica Asset Managers (JV AMC), which is a joint venture between the company and PGLH of Delaware Inc. The company has received the approval of the Securities and Exchange Board of India on 28 March 2016, for investment. The announcement was made after market hours yesterday, 30 March 2016.

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Ashok Leyland may gain after winning defence contract
Mar 30,2016

Ashok Leyland said that the company has won defence contract worth Rs 800 crore from Indian armed forces for supply of advanced-technology products - 450 units of Field Artillery Tractor (FAT) 6x6 and other similar Super Stallion vehicles; and 825 units of Ambulance 4x4. The announcement was made after market hours yesterday, 29 March 2016.

TCS yesterday, 29 March 2016 announced the opening of its new office in Toronto. Located in the heart of the city, the facility encompasses three floors and 50,000 square feet, providing a new hub for technical innovation, partner collaboration and industry leading client service, TCS said. The announcement was made after market hours yesterday, 29 March 2016.

HDFC turns ex-dividend today, 30 March 2016 for interim dividend of Rs 3 per share for the year ending 31 March 2016 (FY 2016). NMDC turns ex-dividend today, 30 March 2016 for interim dividend of Rs 1.50 per share for the year ending 31 March 2016 (FY 2016).

Sun Pharmaceutical Industries announced before market hours today, 30 March 2016 the acquisition of 14 established prescription brands from Novartis AG and Novartis Pharma AG (together Novartis) in Japan.According to the agreements entered into between the parties, a wholly-owned subsidiary of Sun Pharma will acquire the portfolio consisting of 14 established prescription brands from Novartis for a cash consideration of$293 million. These brands have combined annualized revenues of approximately $160 million and address medical conditions across several therapeutic areas. Under the terms of the agreements, Novartis will continue to distribute these brands, for a certain period, pending transfer of all marketing authorizations to Sun Pharmas subsidiary. The acquired brands will be marketed by a reliable and established local marketing partner under theSun Pharma label. The local marketing partner will also be responsible for distribution of the brands. As per the December-2015 IMS Data, the size of the Japanese pharmaceutical market was estimated at $73 billion, accounting for over 7% of the $1 trillion global pharmaceutical market.

Tata Steel said before market hours today, 30 March 2016, that board of directors after reviewing the recent performance of the European business of the company noted with deep concern the deteriorating financial performance of the UK subsidiary in the last twelve months and has advised the board of its European holding company, Tata Steel Europe to explore all options for portfolio restructuring including the potential divestment of Tata Steel UK, in whole or in parts. Given the severity of the funding requirement in the foreseeable future, the Tata Steel Europe board will be advised to evaluate and implement the most feasible option in a time bound manner.

Vijaya Bank said before market hours today, 30 March 2016 that the Board of Directors of the bank in a meeting held on 29 March 2016 accorded approval for the infusion of capital funds to the tune of Rs 220 crore by way of preferential allotment of equity shares in favour of Government of India as part of capital infusion for the FY 2016. Government of India has already accorded approval for the capital infusion.

United Bank of India said before market hours today, 30 March 2016 that the bank is initiating necessary steps after the Ministry of Finance vide its letter dated 28 March 2016 has conveyed that the Government of India has decided to infuse capital funds to the tune of Rs 480 crore in the bank by way of preferential allotment of equity in favour of the Government of India.

MindTree yesterday, 29 March 2016 announced the launch of its comprehensive IPv6 Stack and Smart Mesh Suite for Bluetooth Smart. The IPv6 Stack and Smart Mesh Suite will enable original equipment manufacturers (OEM) and semiconductor companies to add seamless cloud connectivity to their Internet of Things (IoT) products. The combination of IPv6 and Smart Mesh technology not only transmits data collected from remote sensor nodes to cloud analytics platforms, but also enables control of end devices over the internet. IPv6 enables internet access to millions of individual Bluetooth Smart devices, providing the essential IP infrastructure for applications such as smart homes, wearables, and connected medical devices. The Smart Mesh technology helps overcome range limitations in Bluetooth Smart, an important consideration for industrial and home automation. The announcement was made after market hours yesterday, 29 March 2016.

Jaiprakash Associates said that a meeting of the board of directors of the company will be held on 31 March 2016 to review the progress of various divestment initiated being pursued by the company. The announcement was made after market hours yesterday, 29 March 2016.

Associated Alcohols & Breweries said that Government of Madhya Pradesh has enhanced / increased the licensed capacity of the companys distillery unit from 314 lakh bulk liters to 900 lakh bulk liters per annum. Accordingly, the company has decided to go ahead for obtaining necessary clearances and approvals and is also in the process of examining the market opportunities to embark upon the expansion of the manufacturing capacity. The announcement was made after market hours yesterday, 29 March 2016.

HealthCare Global Enterprises makes its debut on the bourses today, 30 March 2016. The company has fixed issue price of Rs 218 per share. Under the HCG brand, the company operates the largest cancer care network in India in terms of the total number of private cancer treatment centres licensed by the AERB. HGEL also provides fertility treatment under the Milann brand.

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Bharti Airtel in focus after entering into tower sale pact with American Tower Corp
Mar 22,2016

Bharti Airtel announced that it has entered into a definitive agreement with American Tower Corporation through its subsidiary company, Airtel Tanzania, for the sale of approximately 1,350 of its communications towers in Tanzania. Under the agreement, American Tower may acquire up to approximately 100 additional sites currently in development for an additional consideration. Airtel will be the anchor tenant on the portfolio under a lease with a ten-year initial term. The tower sale agreements allow Airtel to focus on its core business and customers, besides helping deleverage through debt reduction, and significantly reducing the on-going capital expenditure on passive infrastructure. The transaction is expected to close during the first half of 2016, subject to customary closing conditions and regulatory approval, Bharti Airtel said. The announcement was made after market hours yesterday, 21 March 2016.

NTPC announced that the unit-I of 250 megawatts (MW) of Nabinagar Thermal Power Station of Bhartiya Rail Bijlee Company, a subsidiary company of the company has been commissioned on 20 March 2016. With this, the total installed capacity of NTPC group has become 45,798 MW. The announcement was made after market hours yesterday, 21 March 2016.

Adani Ports & Special Economic Zone (APSEZ) turns ex-dividend today, 22 March 2016 for interim dividend of Rs 1.10 per share for the year ending 31 March 2016 (FY 2016).

Persistent Systems announced plans to organize its business around four key growth strategies viz. Digital, IBM Alliance, Services and Accelerite. Unique to Persistent, the companys product development and technology DNA drive all four growth strategies, the company said. The new structure along with new leadership responsibilities will be effective 1 April 2016, it added. Persistent Systems said it also plans to strengthen its corporate functions as part of corporate operations that will enable and accelerate the four growth strategies. Atul Khadilkar will be the President for corporate operations, it added. The announcement was made after market hours yesterday, 21 March 2016.

Jain Irrigation Systems announced that a meeting of the securities issuance committee-1 of board of directors of the company is scheduled to be held on Thursday, 24 March 2016 to consider allotment of 1.41 crore ordinary equity shares of Rs 2 each cash at a premium of Rs 78 each in conversion of 1.41 crore equity warrants of Rs 80 each allotted to promoter group entity JAF Products, on preferential allotment basis. The announcement was made before market hours today, 22 March 2016.

Tata Global Beverages announced that it has yesterday, 21 March 2016, sold 92.48 lakh equity shares of Re 1 each held in Titan Company (TCL) constituting 1.04% of the paid-up equity capital of TCL as a market transaction. The announcement was made before market hours today, 22 March 2016.

Kesar Petroproducts announced that a meeting of the board of directors of the company will be held on 25 March 2016, inter alia, to consider and allot equity shares upon conversion of warrants earlier issued on preferential basis. The announcement was made after market hours yesterday, 21 March 2016.

Allcargo Logistics said that a meeting of the resource raising committee of the company will be held on 28 March 2016, inter-alia, to consider and approve mode of raising of funds upto Rs 300 crore by issue of permitted securities and seek approval of shareholders of the company. The announcement was made after market hours yesterday, 21 March 2016.

Coffee Day Enterprises said that the board of directors of the company at its meeting held yesterday, 21 March 2016, inter alia, approved draft disclosure documents for issue of rated, unlisted, secured, redeemable, non-convertible debentures of Rs 265 crore on private placement basis. The announcement was made after market hours yesterday, 21 March 2016.

Canara Bank announced that the board of directors of the company at its meeting held yesterday, 21 March 2016, permitted the bank to raise capital of Rs 3000 crore through issue of Basel-III compliant Tier II bonds by way of private placement at a coupon rate as decided by the bond committee of the bank to support the asset growth and maintain comfortable level of CRAR. The announcement was made after market hours yesterday, 21 March 2016.

Excel Industries said that a meeting of the board of directors of the company will be held on 28 March 2016, inter alia, to consider the proposal for buyback of fully paid equity shares of the company. The announcement was made after market hours yesterday, 21 March 2016.

Borosil Glass Works announced that it has made an investment of Rs 22 crore by way of subscription in 6% optionally convertible non-cumulative redeemable preference shares in Hopewell Tableware, its unlisted wholly owned subsidiary. The announcement was made after market hours yesterday, 21 March 2016.

Indoco Remedies announced that it has received the Establishment Inspection Report (approval) from US Food and Drug Administration (USFDA) for its solid dosages manufacturing facility at Goa (plant I). The announcement was made after market hours yesterday, 21 March 2016.

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Bank stocks in spotlight after Govt cuts interest rates on small savings schemes
Mar 21,2016

Bank stocks will be in focus after the government cut interest rates on various small savings schemes for Q1 June 2016 based on the prevailing G-Sec (government securities) yields. The interest rate on Public Provident Fund (PPF) was slashed to 8.1% from 8.7%. The interest rate on Sukanya Samriddhi Account Scheme was slashed to 8.6% from 9.2%. The interest rate on 5 Year Senior Citizens Savings Scheme was cut to 8.6% from 9.3%. The government had recently announced that it would revise interest rates on small saving schemes on quarterly basis against the earlier practice of annual revision. The quarterly revision of interest rates will ensure that interest rates under small savings schemes are more dynamically related to the current market rates, thereby enabling commercial banks to move their interest rates in line with current money market rates, the finance ministry said in a statement. The additional interest rate spreads ranging from 25 basis points to 100 basis points over the G-Sec yields which the Government allows on PPF, Senior Citizen Savings Scheme, Sukanya Samridhi Scheme, National Savings Certificate, five year time deposit and Monthly Income Scheme have been continued.

Bank of Baroda (BoB) said on Saturday, 19 March 2016, that credit rating agency Brickwork Ratings India has cut the outlook on its ratings on the banks upper Tier II bonds of Rs 1000 crore issued in two tranches of Rs 500 crore each to negative from stable.

Aurobindo Pharma announced that it has received final approval from the United States Food and Drug Administration (USFDA) to manufacture and market Naproxen Sodium Tablets USP, 220 mg (OTC). Aurobindo Pharma said it expects to launch this product in Q1 June 2016. The approved abbreviated new drug application (ANDA) is bioequivalent and therapeutically equivalent to the reference listed drug product (RLD) Aleve Tablets, of Bayer Healthcare LLC (Bayer). Naproxen Sodium Tablets is used in the treatment and prevention of osteoporosis in postmenopausal women. According to IMS data, the approved product has an estimated market size of $96 million in the United States for the twelve months ended January 2016. The announcement was made on Saturday, 19 March 2016.

Godrej Properties before market hours today, 21 March 2016, announced that it has created a dedicated real estate funds management business in India and Singapore viz. Godrej Fund Management (GFM). GFM has raised a $275 million pool of capital, Godrej Residential Investment Program II (GRIP II) with Dutch pension fund asset manager APG Asset Management N.V. (APG) as the lead investor. GFM will advise GRIP II investors on investments into a residential development platform with GPL in India, Godrep Properties said. GRIP II is a follow on to the $200 million residential development platform the company had set up with an APG lead investor consortium in 2012. GPL will hold a 20% stake in GRIP II.

Shares of Hero MotoCorp turn ex-dividend today, 21 March 2016, for an interim dividend of Rs 40 per share for the year ending 31 March 2016. Before turning ex-dividend, the stock offered a dividend yield of 1.41% based on the closing price of Rs 2,832.90 on BSE on Friday, 18 March 2016.

Rural Electrification Corporation (REC) said that its board approved selling 50,000 shares of NRSS XXXVI Transmission, a wholly-owned subsidiary of RECTPCL (a subsidiary of REC) to Essel Infraprojects. Further, the board also approved investment in the equity share capital of Energy Efficiency Services (EESL) (a joint venture company of NTPC, REC, Power Finance Corporation and Power Grid Corporation of India) upto an amount of Rs 99 crore. After the proposed investment, the shareholding of REC in EESL will increase from presently 28.79% (amounting to Rs 47.50 crore) to 31.7% (amounting to Rs 146.50 crore) of the post issue paid up capital of EESL. The announcement was made after market hours on Friday, 18 March 2016.

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HUL in spotlight after signing an agreement to sell its rice exports business
Mar 18,2016

Hindustan Unilever (HUL) announced that it has signed an agreement for the sale of its rice exports business carried out primarily under the brands Gold Seal Indus Valley and Rozana to LT Foods Middle East DMCC, a group company of LT Foods. HULs decision to divest is in line with its strategy to exit non-core businesses, while continuing to drive its growth agenda in the core packaged foods business. The deal envisages transfer of the brands and inventory for a consideration of Rs 25 crore, subject to adjustments on closing. The transaction is subject to fulfillment of certain conditions and the parties will work together to complete this over the next few months, HUL said. HUL will continue to manage the business until the completion of the transaction, it added. The announcement was made after trading hours yesterday, 17 March 2016.

MOIL said that the state government of Madhya Pradesh has granted mining lease over 48.974 hectare in village Lugma, Tehsil Paraswada of Balaghat District in Madhya Pradesh in favour of the company. The lease has been executed and registered by the company, MOIL said. This area falls under Ukwa mine of the company. The announcement was made after trading hours yesterday, 17 March 2016.

Dewan Housing Finance Corporation (DHFCL) said that it proposes to issue 250 secured non-convertible redeemable debentures with a face value of Rs 10 lakh each aggregating to Rs 25 crore on private placement basis. The announcement was made after trading hours yesterday, 17 March 2016.

Crompton Greaves (CG) said it won an order of $35 million (Rs 236 crore approximately) from PT PLN (Persero), the state-owned electricity company of Indonesia, to manufacture and install 28 power transformers ranging from 83.3 mega-volt ampere (MVA) to 167 MVA and rated voltage 500 kilovolt (kV)/150 kV. CGs power transformers will be installed across PT PLNs transmission network, spread over multiple substations and power plants in the Java, Sumatra and Kalimantan provinces of Indonesia. The delivery period is scheduled between May 2016 and March 2017. The power transformers will be manufactured in CGs manufacturing facility in Indonesia. The announcement was made after trading hours yesterday, 17 March 2016.

Religare Enterprises said that meeting of investment and borrowing committee of board of directors of company is scheduled to be held on 22 March 2016 to consider and approve the raising of funds through issue of non-convertible debentures (NCD) on private placement basis. The announcement was made after trading hours yesterday, 17 March 2016.

Oil India said that Moodys Investor Service has confirmed credit rating of Baa2 to the companys senior unsecured regular bond/debenture. The outlook is stable. The announcement was made after trading hours yesterday, 17 March 2016.

Dhanuka Agritech said it has received a licence to manufacture insecticides from Joint Director of Agriculture (Plant & Protection), Rajasthan. Insecticides will be manufactured at the companys unit situated at Keshwana, Kotputli (Jaipur), Rajasthan. The announcement was made after trading hours yesterday, 17 March 2016.

Hinduja Foundries said that the finance committee of the board of directors of the company has decided opening the global depository receipts (GDR) issue on 18 March 2016. Further, a meeting of the finance committee of the board of directors of the company is scheduled to be held on 21 March 2016, to consider and determine the issue price of the GDRs offering. The announcement was made after trading hours yesterday, 17 March 2016.

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