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Ruchira Papers gets ratings revision for long term facilities
Feb 27,2017

Ruchira Papers announced that CARE Ratings has upgraded the credit ratings from CARE BBB to CARE BBB+; Stable assigned to long term facilities of the Company and CARE BBB+/ CARE A3+ assigned to short term facilities of the Company.

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Gayatri Projects moves higher as JV completes power plant unit
Feb 27,2017

The announcement was made after market hours on Thursday, 23 February 2017. The stock market was shut on Friday, 24 February 2017 due to Mahashivratri holiday.

Meanwhile, the S&P BSE Sensex was up 19.01 points or 0.07% at 28,911.98.

On the BSE, 5,011 shares were traded on the counter so far as against the average daily volumes of 65,466 shares in the past one quarter. The stock had hit a high of Rs 142.70 and a low of Rs 139.05 so far during the day.

The stock had hit a record high of Rs 158 on 23 September 2016 and a 52-week low of Rs 99.75 on 29 March 2016. It had outperformed the market over the past one month till 23 February 2017, gaining 7.02% compared with the Sensexs 6.55% rise. The scrip had also outperformed the market over the past one quarter, advancing 13.2% as against the Sensexs 10.91% rise.

The small-cap company has equity capital of Rs 35.45 crore. Face value per share is Rs 2.

Gayatri Projects announced that its joint venture (JV) Sembcorp Gayatri Power has completed construction of its second 660-megawatts (MW) thermal power plant, marking the creation of 2,640 MW power complex.

The first unit of the 660 MW was completed in November 2016. The power plant, located in Krishnapatnam in Andhra Pradeshs SPSR Nellore District, utilises supercritical technology that allows for enhanced efficiency and reduced emissions.

Sembcorp Gayatri Power is a JV between Sembcorp Utilities, a subsidiary of Sembcorp Industries and NCC Infrastructure Holdings, which is promoted by NCC and Gayatri Energy Ventures, a wholly-owned subsidiary of Gayatri Projects.

Sembcorp Industries is a leading energy, water and marine group operating across five continents worldwide.

Gayatri Projects net profit rose 16.4% to Rs 14.16 crore on 23.4% growth in net sales to Rs 518.95 crore in Q3 December 2016 over Q3 December 2015.

Gayatri Projects in a Hyderabad-based infrastructure and construction company specializing in road, irrigation, power transmission and industrial projects with a pan India presence.

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Hewlett Packard Enterprises partners with Tata Communications
Feb 27,2017

At the Mobile World Congress 2017, Hewlett Packard Enterprises announced it is working with Tata Communications, to support the roll out of Indias first LoRaWANn++ (LoRa) based network.

Tata Communications unveiled plans for the LoRan++network last year. It ispart of Tata Communications long-term strategy of creating mobileplatforms and ecosystems that enable its customers and partners toconnect people and IoT-connected devices seamlessly on a global scale.The first phase of the roll-out targets Tier 1, 2, 3 and 4 cities in India,touching over 400 million people. Alongside successful field trials inMumbai, Delhi and Bangalore, there are also 35 proof-of-conceptapplications in trial on the network.

The association between Tata Communications and HPE paves the wayfor a new era in enabling devices with embedded connectivity for enterprise customer solutions throughout the country. The project involves connecting devices, applications and other IoT solutions over the LoRa network in smart buildings, campus, utilities, fleet management, security and healthcare services in nearly 2,000 communities, covering over 400 million people, making it the first-of-its-kind initiative in India.

Tata Communications has also selected HPE to be an integral part of itsglobal cellular IoT connectivity services. This provides a range of domesticand cross-border IoT connectivity and management services, particularlyfor applications requiring elements of mobility, such as connected cars,fleet management and transportation services.

LoRa is a Low Power Wide Area Network (LPWAN) specification for wireless battery operated IoT devices, targeting key IoT requirements such as secure bi-directional communication, mobility and localization services. It is being adopted as a standard for connecting LPWAN IoT devices and sensors, complementing other connectivity optionssuch as LTE, Wi-Fi and more. Tata Communications and HPE selected LoRa because of its low power requirements, long range capability, low cost and multiple use opportunities.

HPE is a member of the LoRa Alliance, an open, non-profit association with the mission of standardizing LPWAN being deployed around the world to enable the IoT, machine-to-machine (M2M) and smart city and industrial applications. Alliance members collaborate to drive the success of the LoRa protocol (LoRaWAN), by sharing knowledge and experienceto guarantee interoperability between operators in one open global standard.

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Small gains at Wall Street
Feb 27,2017

U.S. stocks staged a last-minute rally on Friday, 24 February 2017 with major indices turning positive ahead of the closing bell and the Dow extended its record-setting streak as investors shrugged off concerns the rally was overdone. Both the S&P 500 and the Nasdaq rose for a fifth straight week, while the Dow brought its string of weekly gains to three.

The Dow Jones Industrial Average rose 9.1 points, or less than 0.1%, to end at 20,819.84. The S&P 500 rose 3.4 points, or 0.2%, to end at a record of 2,367.28. The Nasdaq Composite rose 9.8 points to end at 5,845.31, a rise 0.2%.

The days gains were broad, with nine of the 11 primary S&P 500 sectors ending higher. The only two that fell did so heavily, with financials and energy stocks. Among the top drags on the Dow, Goldman Sachs fell 1.5% while J.P. Morgan Chase & Co. fell 0.9%. The third- and fourth-largest decliners were Exxon Mobil and Chevron.

The stock market held a modest loss throughout the majority of Fridays session. Outside of an opening dip, todays session was rather range-bound as the market cut its initial loss in half and traded in sideways fashion until an afternoon charge into the green. Equity indices did show some life around noon following a report that Gary Cohn, who is the chief economic adviser to President Trump, indicated that the White House does not support the House GOP version of a border adjustment tax. This was construed as a positive for retailers given that they import so much of their merchandise for sale in the United States; hence, their earnings prospects would be likely to suffer.

In the latest economic data, consumer sentiment fell from a 13-year high in February, while new-home sales posted a strong rebound in January.

New Home Sales in January hit an annualized rate of 555,000, which was above the revised December rate of 535,000 (from 536,000), and less than the 566,000 that was expected by the consensus. The key takeaway from the report is that high prices continue to impede stronger sales activity at the lower end of the new home market. That point is borne out in the fact that homes priced $299,999 or less accounted for 44% of new homes sold in January 2017 versus 53% in January 2016.

The final reading of the University of Michigan Consumer Sentiment Index for February rose to 96.3 (Briefing.com consensus 95.8) from 95.7 in the preliminary reading.

Among stocks under focus, shares of Hewlett Packard slumped 6.9% after the IT company late Thursday reported lower sales than expected and cut its earnings projections for the fiscal year. Nordstrom rallied 5.7% after the department store chain late Thursday reported earnings that beat forecasts. The retailer has been in focus following a recent decision by the company to drop Ivanka Trumps fashion label, citing poor sales.

The ICE Dollar index rose 0.1% on Friday.

Crude prices closed the week at $53.97/bbl.

U.S. Treasuries finished the week on a positive note, closing Friday near their three-month highs. The benchmark 10-yr yield finished six basis points lower at 2.31%.

On Monday, investors will receive January Durable Orders (consensus 1.8%) and January Pending Home Sales (consensus 0.9%). The two reports will cross the wires at 8:30 am ET and 10:00 am ET, respectively.

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Lakshmi Vilas Bank advances after large bulk deal
Feb 27,2017

Meanwhile, the S&P BSE Sensex was up 5.82 points, or 0.02%, to 28,898.79.

Bulk deal boosted volume on the scrip. On the BSE, 39.94 lakh shares were traded on the counter so far as against the average daily volumes of 1.32 lakh shares in the past one quarter. The stock had hit a high of Rs 165 and a low of Rs 156.60 so far during the day.

The stock had hit a record high of Rs 168.70 on 23 September 2016 and a 52-week low of Rs 77.95 on 4 May 2016. The stock had outperformed the market over the past one month till 23 February 2017, advancing 13.91% compared with the Sensexs 6.55% rise. The scrip had also outperformed the market over the past one quarter advancing 14.28% as against the Sensexs 10.91% rise.

The mid-cap bank has equity capital of Rs 191.45 crore. Face value per share is Rs 10.

Lakshmi Vilas Banks net profit rose 70.1% to Rs 78.38 crore on 21.6% growth in total income of Rs 879.26 crore in Q3 December 2016 over Q3 December 2015.

Lakshmi Vilas Bank provides a variety of services, including corporate banking, commercial & personal banking, retail banking, NRI services, insurance and development banking through a network of branches.

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Maruti Suzuki India opens booking for Baleno RS
Feb 27,2017

Maruti Suzuki India has opened the booking for Baleno RS - first of high performance cars to be offered through NEXA. Baleno RS will be launched on 03 March 2017.

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TCS edges higher after winning contract
Feb 27,2017

The announcement was made after market hours on Thursday, 23 February 2017.

Meanwhile, the S&P BSE Sensex was up 17.39 points or 0.06% at 28,910.36.

On the BSE, 15,332 shares were traded on the counter so far as against the average daily volumes of 1 lakh shares in the past one quarter. The stock had hit a high of Rs 2,497 and a low of Rs 2,473.05 so far during the day. The stock had hit a 52-week high of Rs 2,740 on 16 August 2016 and a 52-week low of Rs 2,054.70 on 15 November 2016.

The stock had outperformed the market over the past one month till 23 February 2017, advancing 7.63% compared with the Sensexs 6.55% rise. The scrip had also outperformed the market over the past one quarter, gaining 15.07% as against the Sensexs 10.91% rise.

The large-cap company has equity capital of Rs 197.04 crore. Face value per share is Re 1.

TCS announced that Community Savings Bank Association (CSBA) has selected TCS BaNCS on the Cloud as the core banking solution for its member banks across the entire United Kingdom. CSBA is a co-operative society.

The vision of CSBA is to have a local network of customer owned, regional banks that create and support wealth creation in local communities. TCS BaNCS on the Cloud is a digital banking solution designed to meet the market requirements in the UK.

On a consolidated basis, TCS net profit rose 3.20% to Rs 6814 crore on 1.54% increase in net sales to Rs 29735 crore in Q3 December 2016 over Q2 September 2016.

TCS is an IT services, consulting and business solutions organization.

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Venus Remedies to hold EGM
Feb 27,2017

Venus Remedies announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 21 March 2017 .

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Diamond Power Infrastructure to hold board meeting
Feb 27,2017

Diamond Power Infrastructure will hold a meeting of the Board of Directors of the Company on 4 March 2017.

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Shiva Cement to hold board meeting
Feb 27,2017

Shiva Cement will hold a meeting of the Board of Directors of the Company on 28 February 2017.

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Rathi Graphic Technologies to hold EGM
Feb 27,2017

Rathi Graphic Technologies announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 27 March 2017 .

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Ganesh Holdings to hold board meeting
Feb 27,2017

Ganesh Holdings will hold a meeting of the Board of Directors of the Company on 1 March 2017.

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RIL jumps on reports of brokerage upgrade
Feb 27,2017

Meanwhile, the S&P BSE Sensex was almost unchanged at 28,894.39.

On the BSE, 7.43 lakh shares were traded on the counter so far as against the average daily volumes of 3.42 lakh shares in the past one quarter. The stock had hit a high of Rs 1,256.50 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 1,187 so far during the day.

The stock had hit a 52-week low of Rs 925.70 on 23 May 2016. It had outperformed the market over the past one month till 23 February 2017, gaining 16.4% compared with the Sensexs 6.55% rise. The scrip had also outperformed the market over the past one quarter, advancing 17.41% as against the Sensexs 10.91% rise.

The large-cap company has equity capital of Rs 3243.86 crore. Face value per share is Rs 10.

The target price of Rs 1,506 per share is at a premium of 21.1% over the stocks ruling market price.

Shares of Reliance Industries (RIL) had rallied 10.97% in a single trading session on 22 February 2017, amid investors expectations of revenue generation from its telecom subsidiary Reliance Jio Infocomm (RJIL) starting from 1 April 2017. RIL at the fag end of market hours on 21 February 2017 said that it has breached the 100 million customer mark in 170 days.

RJIL announced that in addition to its own market leading tariff plans, it will also offer its customers the option to choose the highest selling tariff plan of any of the other leading Indian telecom operators, but with 20% more data than what any other operator provides.

RJIL had said that the existing 100 million plus Jio subscribers can avail of the special Jio Prime Membership programme which comes with several special benefits. The Jio Prime Membership is available only for existing Jio customers and the enrolment window will remain open from 1-31 March 2017.

RILs consolidated net profit rose 3.6% to Rs 7506 crore on 17.6% growth in net sales to Rs 79408 crore in Q3 December 2016 over Q3 December 2015.

Reliance Industries (RIL) is Indias largest private sector company. RILs activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and telecommunications.

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GMR Infra jumps after completing strategic debt restructuring of subsidiary
Feb 27,2017

The announcement was made before market hours today, 27 February 2017.

Meanwhile, the BSE Sensex was up 38.64 points, or 0.13%, to 28,931.61.

On the BSE, 12.68 lakh shares were traded in the counter so far, compared with average daily volume of 10.41 lakh shares in the past one quarter. The stock had hit a high of Rs 15.95 in intraday trade, which is also a 52-week high for the stock. The stock had hit a low of Rs 14.91 so far during the day. The stock had hit a 52-week low of Rs 10.25 on 9 November 2016.

The stock had outperformed the market over the past one month till 23 February 2017, advancing 17.72% compared with the Sensexs 6.55% rise. The scrip had also outperformed the market over the past one quarter, gaining 32.74% as against the Sensexs 10.91% rise.

The mid-cap company has equity capital of Rs 603.59 crore. Face value per share is Re 1.

GMR Chhattisgarh Energy (GCEL), a subsidiary of GMR Infrastructure (GIL) has announced that the consortium of lenders of GCEL have adopted strategic debt restructuring plan (SDR), as provided under the scheme permitted by the Reserve Bank of India (RBI). Accordingly, GCEL has allotted equity shares to all the lenders.

As per the SDR scheme, out of the total outstanding debt (including accrued interest) of Rs 8800 crore, debt to the extent of Rs 2992 crore has been converted into equity by which the consortium lenders would have 52.4% shareholding and balance 47.6% would be held by GMR.

Post the conversion, the balance project debt stands at Rs 5800 crore with Rs 2992 crore equity held by lenders and Rs 2721 crore equity held by GMR Group, resulting in the debt-to-equity ratio of 1.0x. The lower debt levels would result in improving the long term viability of the project.

GCEL is a 1,370 megawatts (MW) (2x685 MW) coal based power plant at Tilda, Raipur, Chhattisgarh. The project was fully commissioned in March 2016 and has long term fuel security in the form of two captive coal blocks. The plant is currently operating under short term power purchase agreements (PPAs) through exchange and bilateral routes.

GMR Group is a leading global infrastructure conglomerate with interests in airport, energy, transportation and urban infrastructure. The group has fifteen power generation projects, nine operating road assets and a double rail track line of eastern dedicated freight corridor under development.

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Nucleus Software partners with Manappuram Finance
Feb 27,2017

Nucleus Software announced that Manappuram Finance, has chosen FinnOne Neo, loan life cycle management solution. Manappuram will deploy the solution in the Cloud. For Nucleus Software, the agreement is the third cloud service deal in India in seven months.

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