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Jubilant FoodWorks inches up after launch of BurgerPizza
Jul 13,2016

The announcement was made before market hours today, 13 July 2016.

Meanwhile, the S&P BSE Sensex was up 30.36 points or 0.11% at 27,838.50.

On BSE, so far 1,148 shares were traded in the counter as against average daily volume of 67,000 shares in the past two weeks. The stock hit a high of Rs 1,186.75 and a low of Rs 1,176.55 so far during the day. The stock had hit a record high of Rs 1,984 on 17 July 2015. The stock had hit a 52-week low of Rs 896.65 on 12 February 2016.

The mid-cap company has equity capital of Rs 65.84 crore. Face value per share is Rs 10.

The new BurgerPizza is an exciting innovation from Dominos and is a result of the companys focus on innovation and growth, Jubilant FoodWorks said. With BurgerPizza, the company aims to grow its share in the all day, individual consumption occasion and further grow its share of the chained Indian Food Service Industry that is pegged to grow three-fold to Rs 25000 crore within five years, the company said. Starting at Rs 89, the BurgerPizza range is available in two vegetarian and two non-vegetarian variants at the 100 plus Dominos Pizza restaurants across India, Jubilant FoodWorks said. The BurgerPizza is also available for ordering on the Dominos online ordering website and the Dominos Pizza mobile app, the company said.

Jubilant FoodWorks net profit fell 6.5% to Rs 29.47 crore on 14% rise in net sales to Rs 617.84 crore in Q4 March 2016 over Q4 March 2015.

Jubilant FoodWorks and its subsidiary operates Dominos Pizza brand with the exclusive rights for India, Nepal, Bangladesh and Sri Lanka. It operates 1,039 Dominos Pizza restaurants across 240 cities (as of 28 May 2016). The company launched Dunkin Donuts in India in April 2012 in Delhi. The company has 74 Dunkin Donuts restaurants in India (as of 28 May 2016).

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Tata Motors gains on plan to raise Rs 400 crore via NCDs
Jul 13,2016

The announcement was made after market hours yesterday, 12 July 2016.

Meanwhile, the BSE Sensex was up 37.53 points, or 0.13%, to 27,845.67.

On BSE, so far 28,000 shares were traded in the counter, compared with an average volume of 8.63 lakh shares in the past one quarter. The stock hit a high of Rs 487.85 and a low of Rs 484.80 so far during the day. The stock hit a 52-week high of Rs 489.60 on 23 June 2016. The stock hit a 52-week low of Rs 266 on 11 February 2016. The stock had outperformed the market over the past one month till 12 July 2016, rising 5.91% compared with 4.40% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 22.55% as against Sensexs 10.59% rise.

The large-cap company has an equity capital of Rs 577.44 crore. Face value per share is Rs 2.

Tata Motors announced that a duly constituted committee of the board of directors of the company will meet on 15 July 2016, for issuing rated, listed, unsecured, redeemable, non-convertible debentures (NCDs) aggregating to Rs 400 crore. This issuance is pursuant to the approval of the shareholders on 13 August 2015 and the board of directors resolution passed at its meeting held on 30 March 2016.

Tata Motors consolidated net profit jumped 201.6% to Rs 5177.06 crore on 18.8% growth in net sales to Rs 79926.12 crore in Q4 March 2016 over Q4 March 2015.

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

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IDFC Bank jumps after acquisition
Jul 12,2016

The announcement was made during trading hours today, 12 July 2016.

Meanwhile, the BSE Sensex was up 181.45 points, or 0.66%, to 27,808.14.

On BSE, so far 41.51 lakh shares were traded in the counter, compared with an average volume of 11.07 lakh shares in the past one quarter. The stock hit a high of Rs 53.90 and a low of Rs 48.15 so far during the day. The stock hit a record high of Rs 73.45 on 6 November 2015. The stock hit a record low of Rs 43.15 on 21 January 2016. The stock had underperformed the market over the past one month till 11 July 2016, rising 1.26% compared with 3.72% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 8.99% as against Sensexs 10.41% rise.

The large-cap company has an equity capital of Rs 3394.90 crore. Face value per share is Rs 10. Shares of IDFC Bank listed on the stock exchanges on 6 November 2015.

IDFC Bank signed a share purchase agreement to acquire 100% of Grama Vidiyal Micro Finance, one of the largest microfinance institutions in the country. Upon completion of acquisition, Grama Vidiyal will be a wholly-owned subsidiary of IDFC Bank.

Grama Vidiyal will act as a dedicated Business Correspondent of IDFC Bank, and will help deepen reach and widen the delivery mechanism for banking services. The move enables IDFC Bank to significantly enhance its network and reach and make basic banking services available to a large customer base.

The acquisition will give IDFC Bank immediate access to 1.2 million rural and semi-urban households and Grama Vidiyals network of 319 locations across 65 districts of Tamil Nadu, Kerala, Karnataka, Pondicherry, Maharashtra, Gujarat and Madhya Pradesh will act as BC centres to IDFC Bank. Current customer households of Grama Vidiyal, in turn, will benefit from IDFC Banks full range of liability products, customised credit offerings, innovative digital services and doorstep banking.

The 30-year-old, Tamil Nadu-headquartered Grama Vidiyal has an AUM (Assets Under Management) of Rs 1502 crore of micro finance assets, as on 31 March 2016. All loan assets on the book will be transferred to IDFC Bank.

Grama Vidiyals employee base of over 3000, with an understanding of the needs of local communities, will represent IDFC Bank, in their branch locations. Members of Grama Vidiyal will use IDFC Banks innovative and inter-operable Micro ATM, which functions like a n++Bank-in-a-Boxn++, allowing customers as well as non-customers to transact from the comfort of their homes and neighbourhoods. In addition to Grama Vidiyals existing locations, IDFC Bank plans to set up new bank branches in areas where Grama Vidiyals presence is concentrated to complement and support the BC operations.

IDFC Bank reported net profit of Rs 165.06 crore on operating income of Rs 1953.20 crore in Q4 March 2016.

IDFC Bank is a subsidiary of IDFC. The Reserve Bank of India (RBI) granted a universal banking license to IDFC on 23 July 2015. IDFC demerged on 1 October 2015, transferring all assets and liabilities of its lending business to IDFC Bank.

IDFC Bank is a universal bank, offering financial solutions through its nationwide branches, internet and mobile. IDFC Bank will focus on serving the rural underserved communities and the self-employed, while continuing to support the countrys infrastructure sector. IDFC Bank provides customized financial solutions to corporates, individuals, small and microenterprises, entrepreneurs, financial institutions and the government.

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ACC, Ambuja Cements edge higher on LafargeHolcims divestment in Lafarge India
Jul 12,2016

ACC (up 0.42% at Rs 1,620) and Ambuja Cements (up 0.27% at Rs 260.90) edged higher.

Meanwhile, the S&P BSE Sensex was up 196.35 points or 0.71% at 27,823.04.

LafargeHolcim announced yesterday, 11 July 2016, that it has entered into an agreement with Nirma for the divestment of the formers interest in Lafarge India for an enterprise value of about $1.4 billion, subject to approval by the Competition Commission of India (CCI). The proceeds from the divestment will be used to reduce LafargeHolcims debt. LafargeHolcim has a divestment target of CHF 3.5 billion in 2016.

LafargeHolcim will continue to operate in India through its subsidiaries ACC and Ambuja Cements post Nirmas acquisition of LafargeHolcims stake in Lafarge India. It may be recalled that Switzerland-based Holcim had merged with Frances Lafarge in 2015 to form LafargeHolcim. Holcim (India) and Holderind Investments together held 50.34% stake in ACC (as per the shareholding pattern as on 30 June 2016). Holcim (India) and Holderind Investments together held 50.28% stake in Ambuja Cements (as per the shareholding pattern as on 31 March 2016).

Nirma is one of Indias diversified conglomerates with businesses across industrial and consumer products ranging from soaps, detergents, salt, soda ash, caustic soda, cement, packaging and other household products.

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Jyoti Structures extends rally on takeover buzz
Jul 12,2016

Meanwhile, the BSE Sensex was up 142.33 points, or 0.52%, to 27,769.02.

On BSE, so far 25.59 lakh shares were traded in the counter, compared with an average volume of 1.63 lakh shares in the past one quarter. The stock hit a high of Rs 16.31 and a low of Rs 14.10 so far during the day. The stock hit a 52-week high of Rs 28.80 on 24 July 2015. The stock hit a 52-week low of Rs 8.30 on 24 May 2016. The stock had outperformed the market over the past one month till 11 July 2016, rising 55.02% compared with 3.72% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 25.34% as against Sensexs 10.41% rise.

The small-cap company has an equity capital of Rs 21.91 crore. Face value per share is Rs 2.

Shares of Jyoti Structures surged 20% to Rs 13.75 yesterday, 11 July 2016, after media reports suggested that Amin group, which has business interests ranging from medical and health to power generation and transmission, will invest Rs 500 crore as equity for a majority stake in Jyoti Structures. This will be the first stake sale by the contractor of transmission projects since lenders took its control after a strategic debt restructuring (SDR). Post the transaction, promoter stake in the company is expected to halve from the current 23.5%, reports added.

In August 2015, consortium of 21 banks led by State Bank of India had taken operational control of the company by invoking SDR. Jyoti Structures has debt of over Rs 3800 crore, including short term debt of Rs 3043 crore, reports added.

Jyoti Structures clarified during market hours yesterday, 11 July 2016, that SDR lenders have invited final offer from the investor for their consideration.

Jyoti Structures reported net loss of Rs 52.31 crore in Q4 March 2016 as against net loss of Rs 90.95 crore in Q4 March 2015. Net sales declined 15.88% to Rs 740.02 crore in Q4 March 2016 over Q4 March 2015.

Jyoti Structures is in turnkey/EPC projects in the field of power transmission. The companys main business focus areas are transmission lines, substations and distribution projects. The company undertakes turnkey projects on a global scale, offering a complete range of services in design, testing, manufacturing, sourcing, supply and construction with its in-house expertise.

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Axis Bank nudges higher as foreign brokerage maintains overweight rating
Jul 12,2016

Meanwhile, the S&P BSE Sensex was up 103.99 points or 0.38% at 27,730.68.

On BSE, so far 3.32 lakh shares were traded in the counter as against average daily volume of 7.29 lakh shares in the past one quarter. The stock hit a high of Rs 558.30 and a low of Rs 550 so far during the day. The stock had hit a 52-week high of Rs 613.40 on 16 July 2015. The stock had hit a 52-week low of Rs 366.65 on 18 January 2016. The stock had underperformed the market over the past one month till 11 July 2016, gaining 0.56% compared with Sensexs 3.72% rise. The scrip had, however, outperformed the market in past one quarter, advancing 26.62% as against Sensexs 10.41% rise.

The large-cap private sector bank has equity capital of Rs 477.50 crore. Face value per share is Rs 2.

The foreign brokerage reportedly expects Axis Banks watchlist of stressed loans to be stable going forward in the current financial year (FY 2017). The brokerage said that Axis Bank is focused on building retail loan book. The bank has built healthy retail franchise on liability side, the brokerage added.

Axis Banks net profit fell 1.2% to Rs 2154.28 crore on 9.8% growth in total income to Rs 13592.97 crore in Q4 March 2016 over Q4 March 2015.

Axis Bank is one of the biggest private sector banks in India.

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NBCC (India) soars about 37% in 7 trading sessions
Jul 12,2016

Meanwhile, the BSE Sensex was up 107.84 points, or 0.39%, to 27,734.53.

On BSE, so far 16.74 lakh shares were traded in the counter, compared with an average volume of 87,466 shares in the past one quarter. The stock hit a high of Rs 263.40 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 229.95 so far during the day. The stock hit a 52-week low of Rs 162 on 25 August 2015. The stock had outperformed the market over the past one month till 11 July 2016, rising 22.15% compared with 3.72% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 17.90% as against Sensexs 10.41% rise.

The large-cap company has an equity capital of Rs 120 crore. Face value per share is Rs 2.

Shares of NBCC (India) have risen 36.71% from its recent close of Rs 190.70 on 30 June 2016.

NBCC (India) announced after market hours on Tuesday, 5 July 2016, that it secured a total business of about Rs 587.47 crore in June 2016. Indias stock market was shut on Wednesday, 6 July 2016, on account of Id-Ul-Fitr (Ramzan Id). The stock surged 10.47% to Rs 215.30 on Thursday, 7 July 2016.

On a consolidated basis, net profit of NBCC (India) rose 5.87% to Rs 141.48 crore on 38.80% rise in net sales to Rs 2251.14 crore in Q4 March 2016 over Q4 March 2015.

NBCC (India), formerly known as National Buildings Construction Corporation, is a blue-chip Government of India (GoI) Navratna Enterprise under the Ministry of Urban Development, in construction sector. The GoI held 90% stake in the firm (as per shareholding pattern as on 31 March 2016).

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IndusInd Bank inches up after opening banking unit in Gujarat
Jul 12,2016

The announcement was made during market hours today, 12 July 2016.

Meanwhile, the S&P BSE Sensex was up 78.61 points or 0.28% at 27,705.30.

On BSE, so far 62,000 shares were traded in the counter as against average daily volume of 82,906 shares in the past one quarter. The stock was volatile. The stock rose as much as 1.53% at the days high of Rs 1,141.15 so far during the day. The stock lost as much as 0.07% at the days low of Rs 1,123.10 so far during the day. The stock had hit a record high of Rs 1,147.50 yesterday, 11 July 2016. The stock had hit a 52-week low of Rs 799 on 11 February 2016. The stock had underperformed the market over the past one month till 11 July 2016, gaining 1% compared with Sensexs 3.72% rise. The scrip had, however, outperformed the market in past one quarter, advancing 17.04% as against Sensexs 10.41% rise.

The large-cap bank has equity capital of Rs 595.87 crore. Face value per share is Rs 10.

IndusInd Banks International Banking Unit (IBU) will provide the bank access to international financial markets and will allow IndusInd to deliver a complete range of products to its clients with foreign currency funding requirements. The bank will now be able to actively offer products such as external commercial borrowings to its customers, an area where it had limited capabilities hitherto.

IndusInd Banks net profit rose 25.96% to Rs 661.38 crore on 22.36% growth in total income to Rs 4264.66 crore in Q1 June 2016 over Q1 June 2015. The result was announced during trading hours yesterday, 11 July 2016.

IndusInd Bank is a leading private sector bank in India.

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Eveready Industries gains after block deal
Jul 12,2016

Meanwhile, the BSE Sensex was up 77.33 points, or 0.28%, to 27,704.02.

On BSE, so far 2.25 lakh shares were traded in the counter, compared with an average volume of 40,337 shares in the past one quarter. The stock hit a high of Rs 281 and a low of Rs 276.50 so far during the day. The stock hit a record high of Rs 374.90 on 17 July 2015. The stock hit a 52-week low of Rs 192.30 on 12 February 2016. The stock had outperformed the market over the past one month till 11 July 2016, rising 11.47% compared with 3.72% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 15.52% as against Sensexs 10.41% rise.

The small-cap company has an equity capital of Rs 36.34 crore. Face value per share is Rs 5.

Net profit of Eveready Industries India declined 26.61% to Rs 4 crore on 3.06% rise in net sales to Rs 283.17 crore in Q4 March 2016 over Q4 March 2015.

Eveready is the market leader of dry cell batteries. Apart from dry cell batteries, Eveready is also the market leader in flashlights. Eveready also markets LED, CFL, GLS lamps & other lighting products and rechargeable lanterns & devices, and packet tea.

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Opto Circuits jumps as arm launches therapy for dialysis patients
Jul 12,2016

The announcement was made during market hours today, 12 July 2016.

Meanwhile, the S&P BSE Sensex was up 118.84 points or 0.43% at 27,745.53.

The stock surged on increased volumes. On BSE, so far 20.51 lakh shares were traded in the counter as against average daily volume of 8.14 lakh shares in the past one quarter. The stock hit a high of Rs 12.49 and a low of Rs 11.85 so far during the day. The stock had hit a 52-week high of Rs 22.80 on 7 August 2015. The stock had hit a 52-week low of Rs 8.12 on 12 February 2016. The stock had outperformed the market over the past one month till 11 July 2016, surging 26.31% compared with Sensexs 3.72% rise. The scrip had also outperformed the market in past one quarter, advancing 18.3% as against Sensexs 10.41% rise.

The small-cap company has equity capital of Rs 242.32 crore. Face value per share is Rs 10.

Opto Circuits (India) said that its wholly owned subsidiary Eurocor Gmbh has launched coated shunt balloon catheter used for dialysis patients which reduces re-intervention and preserves future treatment options.

On consolidated basis, Opto Circuits (India) reported net loss of Rs 32.78 crore in Q4 March 2016, higher than net loss of Rs 1.08 crore in Q4 March 2015. Net sales declined 89.7% to Rs 29.39 crore in Q4 March 2016 over Q4 March 2015.

Opto Circuits (India) is a vertically integrated multinational medical technology company that specializes in primary, acute and critical care products for the global markets.

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Rico Auto gains on capacity expansion plan
Jul 12,2016

The announcement was made after market hours yesterday, 11 July 2016.

Meanwhile, the S&P BSE Sensex was up 98.56 points or 0.36% at 27,725.25.

On BSE, so far 4.99 lakh shares were traded in the counter as against average daily volume of 1.25 lakh shares in the past one quarter. The stock hit a high of Rs 45.10 and a low of Rs 43 so far during the day. The stock had hit a 52-week high of Rs 63.90 on 10 August 2015. The stock had hit a 52-week low of Rs 27.70 on 29 February 2016. The stock had outperformed the market over the past one month till 11 July 2016, surging 18.81% compared with Sensexs 3.72% rise. The scrip had also outperformed the market in past one quarter, advancing 10.82% as against Sensexs 10.41% rise.

The small-cap company has equity capital of Rs 13.53 crore. Face value per share is Rs 1.

Rico Auto said that the factory premises is being built on a plot of 11.3 acres. Latest manufacturing technology would be implemented in the new facility. The company is hopeful to start commercial production at the new plant by the next financial year.

On consolidated basis, Rico Auto Industries reported net profit of Rs 6.98 crore in Q4 March 2016 compared with net loss of Rs 7.18 crore in Q4 March 2015. Net sales rose 9.1% to Rs 247.14 crore in Q4 March 2016 over Q4 March 2015.

Rico Auto Industries supplies a wide range of high precision fully machined aluminum and ferrous components and assemblies to automotive original equipment manufacturers (OEMs) across the globe.

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Suven Life Sciences gains after securing 2 patents
Jul 12,2016

Meanwhile, the BSE Sensex was up 99 points, or 0.36%, to 27,725.69.

On BSE, so far 1.40 lakh shares were traded in the counter, compared with an average volume of 52,679 shares in the past one quarter. The stock hit a high of Rs 212.10 and a low of Rs 203 so far during the day. The stock hit a 52-week high of Rs 308.70 on 5 October 2015. The stock hit a 52-week low of Rs 144.35 on 19 February 2016. The stock had underperformed the market over the past one month till 11 July 2016, sliding 2.34% compared with 3.72% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 0.07% as against Sensexs 10.41% rise.

The small-cap company has an equity capital of Rs 12.73 crore. Face value per share is Re 1.

Suven Life Sciences (Suven) announced the grant of one product patent from India (272835) and one product patent from South Africa (2014/09244) corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases. These patents are valid through 2028 and 2032 respectively.

The granted claims of the patents are from the mechanism of action include the class of selective 5-HT6 compounds and H3 Inverse agonist compounds and are being developed as therapeutic agents and are useful in the treatment of cognitive impairment associated with neurodegenerative disorders like Alzheimers disease, Attention deficient hyperactivity disorder (ADHD), Huntingtons disease, Major Depressive disorder (MDD), Parkinson and Schizophrenia.

With these new patents, Suven has a total of 18 granted patents from India and 23 granted patents from South Africa. These granted patents are exclusive intellectual property of Suven and are achieved through the internal discovery research efforts. Products out of these inventions may be out-licensed at various phases of clinical development like at Phase-I or Phase-II.

Suven Life Sciences net profit rose 90.5% to Rs 32.29 crore on 53% rise in net sales to Rs 169.28 crore in Q4 March 2016 over Q4 March 2015.

Suven Life Sciences is a clinical stage biopharmaceutical company developing novel medicines to treat life-threatening Central Nervous System (CNS) disorders.

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Hindalco Inds surges after better-than-expected Q2 results from Alcoa
Jul 12,2016

Meanwhile, the S&P BSE Sensex was up 74.49 points or 0.27% at 27,701.18.

On BSE, so far 13.15 lakh shares were traded in the counter as against average daily volume of 13.63 lakh shares in the past one quarter. The stock hit a high of Rs 136.15 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 130 so far during the day. The stock had hit a 52-week low of Rs 58.85 on 12 February 2016. The stock had outperformed the market over the past one month till 11 July 2016, surging 12.02% compared with Sensexs 3.72% rise. The scrip had also outperformed the market in past one quarter, advancing 39.74% as against Sensexs 10.41% rise.

The large-cap company has equity capital of Rs 206.50 crore. Face value per share is Rs 1.

Alcoas consolidated net profit fell 3.57% to $135 million on 10% decline in revenue to $5.3 billion in Q2 June 2016 over Q2 June 2015. Alcoa attributed the decline in top line during the quarter to lower aluminum and alumina pricing and the impact of curtailed, divested and closed operations.

Hindalco Industries US subsidiary Novelis is in the similar line of business as Alcoa.

Hindalco Industries net profit rose 123.4% to Rs 356.33 crore on 7.3% decline in net sales to Rs 8542.66 crore in Q4 March 2016 over Q4 March 2015.

A part of the Aditya Birla Group, Hindalco Industries is the worlds largest aluminium rolling company and one of the biggest producers of primary aluminium in Asia. Its copper smelter is amongst the largest single location custom smelter globally.

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Maruti Suzuki gains on weakness in Japanese yen
Jul 12,2016

Meanwhile, the BSE Sensex was up 66.70 points, or 0.24%, to 27,693.39.

On BSE, so far 21,000 shares were traded in the counter, compared with an average volume of 76,936 shares in the past one quarter. The stock hit a high of Rs 4,343 and a low of Rs 4,273 so far during the day. The stock hit a 52-week high of Rs 4,789 on 23 November 2015. The stock hit a 52-week low of Rs 3,202.10 on 29 February 2016. The stock had outperformed the market over the past one month till 11 July 2016, rising 3.77% compared with 3.72% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 22.84% as against Sensexs 10.41% rise.

The large-cap company has an equity capital of Rs 151.04 crore. Face value per share is Rs 5.

A weak yen is expected to boost operating margins for Maruti Suzuki India. Maruti pays royalty to its Japanese parent Suzuki Motor Corporation in yen terms for some of its earlier models. Maruti has reportedly started paying royalty to its Japanese parent in rupee terms on all new models from 1 April 2016. Maruti also has an exposure to the yen to the extent it imports raw materials from Japan.

Maruti Suzuki Indias domestic sales dropped 10.2% to 92,133 units in June 2016 over June 2015. Exports slumped 44.7% to 6,707 units in June 2016 over June 2015.

Maruti Suzuki Indias net profit declined 11.7% to Rs 1133.60 crore on 12.5% growth in net sales to Rs 14929.50 crore in Q4 March 2016 over Q4 March 2015.

Maruti Suzuki India is Indias biggest car maker in terms of market share. Japanese parent Suzuki Motor Corporation currently holds 56.21% stake in Maruti (as per the shareholding pattern as on 31 March 2016).

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Igarashi Motors declines as OFS floor price fixed at discount to ruling market price
Jul 12,2016

Meanwhile, the S&P BSE Sensex was up 66.79 points or 0.24% at 27,693.48.

On BSE, so far 18,000 shares were traded in the counter as against average daily volume of 10,223 shares in the past one quarter. The stock hit a high of Rs 704 and a low of Rs 680 so far during the day. The stock had hit a 52-week low of Rs 372 on 1 March 2016. The stock had hit a record high of Rs 774 on 5 August 2015. The stock had outperformed the market over the past one month till 11 July 2016, surging 8.72% compared with Sensexs 3.72% rise. The scrip had also outperformed the market in past one quarter, advancing 16.82% as against Sensexs 10.41% rise.

The small-cap company has equity capital of Rs 30.61 crore. Face value per share is Rs 10.

Igarashi Motors Indias promoter P. Mukund is selling 33.20 lakh equity shares, representing 10.35% of the equity share capital of the company, through Offer for Sale (OFS) via the stock exchanges mechanism. The floor price for the OFS was fixed at Rs 650 per share. The floor price is at a discount of 7.34% to the stocks closing price of Rs 701.50 on BSE yesterday, 11 July 2016.

As at 10:25 IST, the OFS received bids for a total of 44,335 shares from non-retail investors as against 29.88 lakh shares on offer for this category of investors.

Bidding for the shares in the OFS by non-retail investors takes place in a single trading session today, 12 July 2016. However, those non-retail investors who have placed their bids today, 12 July 2016 and have chosen to carry forward their bids to tomorrow, 13 July 2016, will be allowed to revise their bids tomorrow, 13 July 2016. Bidding by retail investors will take place in a single trading session tomorrow, 13 July 2016.

P. Mukund held 32.6% stake in Igarashi Motors India (as per the shareholding pattern as on 31 March 2016).

Igarashi Motors Indias net profit rose 8.9% to Rs 18.55 crore on 24.3% growth in net sales to Rs 126.63 crore in Q4 March 2016 over Q4 March 2015.

Igarashi Motors India manufactures automobile parts. The company specializes in the design and manufacture of small, permanent magnet DC motors and gear motors.

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