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Canara Bank gains on plans to raise capital
Oct 17,2016

The announcement was made after market hours on Friday, 14 October 2016.

Meanwhile, the S&P BSE Sensex was up 40.32 points or 0.15% at 27,714.74.

On BSE, so far 74,834 shares were traded in the counter as against average daily volume of 4.32 lakh shares in the past one quarter. The stock hit a high of Rs 316.95 and a low of Rs 312.30 so far during the day. The stock had hit a 52-week high of Rs 339.20 on 5 October 2016. The stock had hit a 52-week low of Rs 156.20 on 29 February 2016. The stock had outperformed the market over the past one month till 14 October 2016, rising 0.53% compared with Sensexs 2.46% fall. The scrip had also outperformed the market in past one quarter, surging 22.57% as against Sensexs 0.96% decline.

The large-cap PSU bank has equity capital of Rs 542.99 crore. Face value per share is Rs 10.

Canara Bank said that the majority of the directors have taken note of the contents and the recommendations of the bank in the circular note and consented to raise additional Tier-I capital funds through BASEL-III compliant additional Tier-I perpetual bonds in rupee terms domestically for an amount not exceeding Rs 2500 crore in single tranche or in tranches depending on the market conditions to maintain healthy capital to risk (weighted) assets ratio (CRAR), during the current financial year. A bond committee will be constituted to determine the structure of the issue size, tenor, coupon, timing of the issue, date of allotment, listing and other matters connected to the issue.

On 6 October 2016, the bank had proposed to circulate a note among the directors of the board of the bank in respect of raising additional funds through BASEL-III compliant additional Tier-I bonds in rupee terms.

Canara Banks net profit fell 52.2% to Rs 228.95 crore on 3.8% decline in total income to Rs 11786.35 crore in Q1 June 2016 over Q1 June 2015.

The Government of India held 66.3% stake in Canara Bank as per the shareholding pattern as on 30 June 2016.

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SBI gains as board approves divestment of stake in SBI Life
Oct 17,2016

The announcement was made after market hours on Friday, 14 October 2016.

Meanwhile, the S&P BSE Sensex was up 13.53 points or 0.05% at 27,687.13

On BSE, so far 54,000 shares were traded in the counter as against average daily volume of 26.37 lakh shares in the past one quarter. The stock hit a high of Rs 254.50 and a low of Rs 253.45 so far during the day. The stock had hit a 52-week high of Rs 271.55 on 8 September 2016. The stock had hit a 52-week low of Rs 148.30 on 12 February 2016.

The large-cap state-run bank has equity capital of Rs 776.28 crore. Face value per share is Rs 1.

State Bank of India (SBI) said that the Executive Committee of the Central Board (ECCB) at its meeting held on Friday, 14 October 2016 has approved to dilute upto 5% stake of SBI in SBI Life to a non-promoter entity.

SBIs net profit fell 31.7% to Rs 2520.96 crore on 9.4% rise in net sales to Rs 48928.60 crore in Q1 June 2016 over Q1 June 2015.

SBI is Indias biggest bank in terms of branch network. The Government of India currently holds 60.18% stake in SBI (as per the shareholding pattern as on 30 June 2016).

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Edelweiss declines after shareholders rejig via bulk deal
Oct 14,2016

Meanwhile, the S&P BSE Sensex was up 34.24 points or 0.12% at 27,677.35.

On BSE, so far 1 lakh shares were traded in the counter as against average daily volume of 5.27 lakh shares in the past one quarter. The stock hit a high of Rs 119.60 and a low of Rs 114.80 so far during the day. The stock had hit a 52-week high of Rs 126 on 3 October 2016. The stock had hit a 52-week low of Rs 44.40 on 12 February 2016. The stock had outperformed the market over the past one month till 13 October 2016, surging 18.5% compared with 2.51% fall in the Sensex. The scrip had also outperformed the market in past one quarter, advancing 47.4% as against Sensexs 0.62% fall.

The mid-cap company has equity capital of Rs 82.84 crore. Face value per share is Rs 1.

Privatbank IHAG Zurich AG held 3.88% and BIH SA 1.71% stake in Edelweiss Financial Services as per the shareholding pattern as on 30 June 2016.

On a consolidated basis, Edelweiss Financial Services net profit rose 53% to Rs 139.68 crore on 27% growth in total income to Rs 1472.18 crore in Q1 June 2016 over Q1 June 2015.

Edelweiss Financial Services offers a range of products and services spanning retail finance, debt capital markets, commodities, financial markets, asset management and life insurance.

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Vardhman Special Steels spurts on plans of rights issue
Oct 14,2016

The announcement was made during market hours today, 14 October 2016.

Meanwhile, the S&P BSE Sensex was up 27.05 points or 0.1% at 27,671.53.

On BSE, so far 2,531 shares were traded in the counter as against average daily volume of 3,054 shares in the past one quarter. The stock hit a high of Rs 88.35 and a low of Rs 79.50 so far during the day.

The small-cap company has equity capital of Rs 18.56 crore. Face value per share is Rs 10.

Vardhman Special Steels said that the board of directors will also consider companys Q2 results on that day.

Vardhman Special Steels is a producer of special and alloy steels, catering to diverse requirements of hot rolled bars for engineering, automotive, tractor, bearing and allied industries.

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HUL extends slide after Unilevers Q3 results disappoint investors
Oct 14,2016

Meanwhile, the S&P BSE Sensex was up 35.10 points or 0.13% at 27,685.16.

On BSE, so far 1.36 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 857.50 and a low of Rs 838.45 so far during the day. The stock had hit a 52-week high of Rs 954 on 9 September 2016. The stock had hit a 52-week low of Rs 765.35 on 27 January 2016. The stock had underperformed the market over the past one month till 13 October 2016, falling 6.14% compared with 2.51% fall in the Sensex. The scrip had also underperformed the market in past one quarter, dropping 6.85% as against Sensexs 0.62% drop.

The large-cap company has equity capital of Rs 216.43 crore. Face value per share is Rs 1.

Shares of Hindustan Unilever (HUL) had settled 1.61% lower at Rs 861.95 yesterday, 13 October 2016 after Unilever yesterday, 13 October 2016 posted an underlying sales growth of 3.2% in Q3 September 2016 over Q3 September 2015. Volumes declined 0.4% during this period. Sales increased by 3.4% at constant exchange rates while turnover, which is at current rates, declined 0.1% in Q3 September 2016 over Q3 September 2015. Consumer demand remained weak and in the markets in which Unilever operates volumes have slowed further and are flat in aggregate, the company said. This is particularly the case in Latin America where currency devaluation has pushed up the cost of living of its consumers, squeezing disposable incomes, it added.

Unilever holds 58.32% stake in Hindustan Unilever (HUL) as per the shareholding pattern as on 30 September 2016.

HULs net profit rose 9.8% to Rs 1173.90 crore on 3.6% growth in net sales to Rs 7987.74 crore in Q1 June 2016 over Q1 June 2015.

HUL is a leading fast moving consumer goods (FMCG) company.

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Large order boosts L&T
Oct 14,2016

The announcement was made during market hours today, 14 October 2016.

Meanwhile, the S&P BSE Sensex was up 38.81 points or 0.14% at 27,681.92.

On BSE, so far 1.13 lakh shares were traded in the counter as against average daily volume of 1.56 lakh shares in the past one quarter. The stock hit a high of Rs 1,473.60 and a low of Rs 1,438.20 so far during the day. The stock had hit a 52-week high of Rs 1,615 on 27 July 2016. The stock had hit a 52-week low of Rs 1,016.60 on 12 February 2016. The stock had outperformed the market over the past one month till 13 October 2016, sliding 1.85% compared with 2.51% fall in the Sensex. The scrip had, however, underperformed the market in past one quarter, declining 7.28% as against Sensexs 0.62% fall.

The large-cap company has equity capital of Rs 186.47 crore. Face value per share is Rs 2.

The latest order has been secured by a consortium of L&T and Sojitz Corp, Japan.

L&Ts consolidated net profit rose 45.5% to Rs 609.60 crore on 9.3% growth in net sales to Rs 21718.61 crore in Q1 June 2016 over Q1 June 2015.

L&T is a major Indian multinational engaged in technology, engineering, construction, manufacturing and financial services. It operates in more than 30 countries worldwide.

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RCom gains after inking pact with Brookfield for sale of telecom tower business
Oct 14,2016

The announcement was made during market hours today, 14 October 2016.

Meanwhile, the BSE Sensex was up 38.68 points, or 0.14%, to 27,681.79.

On BSE, so far 18.77 lakh shares were traded in the counter, compared with an average volume of 27.14 lakh shares in the past one quarter. The stock hit a high of Rs 48.40 and a low of Rs 46.20 so far during the day. The stock hit a 52-week high of Rs 91.80 on 1 January 2016. The stock hit a record low of Rs 42.10 on 29 September 2016. The stock had underperformed the market over the past one month till 13 October 2016, falling 6.04% compared with 2.51% fall in the Sensex. The scrip had also underperformed the market in past one quarter, dropping 8.16% as against Sensexs 0.62% drop.

The large-cap company has equity capital of Rs 1244.49 crore. Face value per share is Rs 5.

Reliance Communications (RCom) announced the signing of a non-binding term sheet with Brookfield Infrastructure Group (Brookfield) in relation to the proposed acquisition of RComs nationwide tower assets and related infrastructure by Brookfield.

RCom said that under the term sheet, the specified assets are intended to be transferred from Reliance Infratel (RITL) on a going concern basis into a separate special purpose vehicle (SPV), to be owned by Brookfield. RCom will continue as an anchor tenant on the tower assets, under a long term MSA, for its integrated telecommunications business.

RCom will receive an upfront cash payment of Rs 11000 crore from the proposed transaction. RCom will also enjoy 49% future economic upside from the towers business, based on certain conditions. RCom and Brookfield expect considerable growth in tenancies based on increasing 4G offerings by all telecom operators, and the fast accelerating trends in data consumption, which are expected to contribute to significant growth in revenues and profitability for the towers business in the future.

RCom and Brookfield also see several opportunities for consolidation in the towers industry in India that will further enhance growth and value creation in the future. RCom intends to utilize the proceeds of the proposed transaction solely to reduce its debt. The proposed Transaction is subject to definitive documentation, customary approvals and certain other terms and conditions. Accordingly, there can be no certainty that a transaction will result. Further announcements will be made at an appropriate stage, RCom added.

RComs consolidated net profit rose 5.9% to Rs 54 crore on 3.8% decline in net sales to Rs 5247 crore in Q1 June 2016 over Q1 June 2015.

RCom is an integrated telecommunications service provider.

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Tata Motors moves higher as foreign brokerage retains overweight rating
Oct 14,2016

Meanwhile, the S&P BSE Sensex was up 38.84 points or 0.14% at 27,681.95.

On BSE, so far 2.25 lakh shares were traded in the counter as against average daily volume of 8.32 lakh shares in the past one quarter. The stock hit a high of Rs 553.35 and a low of Rs 546.10 so far during the day. The stock had hit a 52-week high of Rs 598.60 on 7 September 2016. The stock had hit a 52-week low of Rs 266 on 11 February 2016. The stock had outperformed the market over the past one month till 13 October 2016, sliding 1.78% compared with 2.51% fall in the Sensex. The scrip had also outperformed the market in past one quarter, advancing 13.41% as against Sensexs 0.62% fall.

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

The brokerage reportedly said that Jaguar Land Lover (JLR) numbers are expected to be driven by high average selling price. Volume growth will moderate buy scale will gain, it said. JLR is likely to post 22% earnings per share (EPS) compound annual growth rate (CAGR) between FY 2016-18, it added.

Tata Motors consolidated net profit declined 57% to Rs 2260.40 crore on 10.1% rise in net sales to Rs 64940.12 crore in Q1 June 2016 over Q1 June 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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Volumes jump at GOCL Corporation counter
Oct 14,2016

GOCL Corporation clocked volume of 2.47 lakh shares by 13:13 IST on BSE, a 47.03-times surge over two-week average daily volume of 5,000 shares. The stock fell 0.83% at Rs 312.

Tech Mahindra notched up volume of 34.22 lakh shares, a 16.39-fold surge over two-week average daily volume of 2.09 lakh shares. The stock lost 0.04% at Rs 420.75.

Ramco Industries saw volume of 5.62 lakh shares, a 10.14-fold surge over two-week average daily volume of 55,000 shares. The stock was locked at 20% upper circuit at Rs 216.90.

Infosys clocked volume of 12.08 lakh shares, a 6.26-fold surge over two-week average daily volume of 1.93 lakh shares. The stock lost 1.38% at Rs 1,037.50 after the company trimmed revenue growth guidance for the current financial year at the time of announcing Q2 September 2016 results today, 14 October 2016. In constant currency terms, the company now expects revenue to grow by 8% to 9% for the year ending 31 March 2017 (FY 2017). The company had forecast 10.5%-12% growth in revenue for FY 2017 in constant currency terms at the time of announcing Q1 June 2016 results on 15 July 2016. The company had at the beginning of FY 2017 estimated its revenue growth at 11.5-13.5%.

Infosys consolidated net profit rose 4.9% to Rs 3606 crore on 3.1% growth in revenue to Rs 17310 crore in Q2 September 2016 over Q1 June 2016. The results are as per International Financial Reporting Standards (IFRS). The result was announced during market hours today, 14 October 2016.

Ramco Cements saw volume of 88,000 shares, a 5.68-fold rise over two-week average daily volume of 15,000 shares. The stock surged 6.27% at Rs 669.05.

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Hindustan Construction gains after its JV wins contract
Oct 14,2016

The announcement was made during market hours today, 14 October 2016.

Meanwhile, the S&P BSE Sensex was up 20.82 points or 0.11% at 27,672.73.

On BSE, so far 5.22 lakh shares were traded in the counter as against average daily volume of 24.79 lakh shares in the past one quarter. The stock hit a high of Rs 34.90 and a low of Rs 33.80 so far during the day. The stock had hit a 52-week high of Rs 41.90 on 14 September 2016. The stock had hit a 52-week low of Rs 16.60 on 12 February 2016. The stock had underperformed the market over the past one month till 13 October 2016, falling 11.29% compared with 2.51% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 40.54% as against Sensexs 0.62% drop.

The mid-cap company has equity capital of Rs 77.92 crore. Face value per share is Rs 1.

Hindustan Construction Company (HCC) said that the contract is for construction of a safety tunnel between Tupul and Imphal in Manipur state. This is part of the new railway line project being constructed between Jinbam and Imphal of Northeast Frontier Railway. The project is to be completed in 4 years.

Net profit of Hindustan Construction Company (HCC) rose 17.5% to Rs 10.88 crore on 1.7% rise in net sales to Rs 899.32 crore in Q1 June 2016 over Q1 June 2015.

HCC is into infrastructure development in transportation, power and water segments. HCC is developing a planned hill city named Lavasa near Pune in Maharashtra.

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Mercator gains after fund buying
Oct 14,2016

Meanwhile, the S&P BSE Sensex was up 39.13 points or 0.14% at 27,682.24.

On BSE, so far 5.98 lakh shares were traded in the counter as against average daily volume of 6.52 lakh shares in the past one quarter. The stock hit a high of Rs 50.30 and a low of Rs 49 so far during the day. The stock had hit a 52-week high of Rs 54.55 on 6 September 2016. The stock had hit a 52-week low of Rs 15.90 on 12 February 2016. The stock had outperformed the market over the past one month till 13 October 2016, advancing 2.13% compared with 2.51% fall in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 25.95% as against Sensexs 0.62% fall.

The small-cap company has equity capital of Rs 24.49 crore. Face value per share is Rs 1.

Government of Singapore bought 73.55 lakh shares at an average price of Rs 46.55 per share in a bulk deal on the NSE yesterday, 13 October 2016. Monetary Authority of Singapore purchased 26.44 lakh shares at Rs 46.55 a piece. Albula Investment Fund was the seller in these deals offloading a total of 1 crore shares at Rs 46.55 per share.

On a consolidated basis, Mercator reported net profit of Rs 16.61 crore in Q1 June 2016 compared with net loss of Rs 35.40 crore in Q1 June 2015. Net sales declined 18.7% to Rs 584.17 crore in Q1 June 2016 over Q1 June 2015.

Mercator group has business interests in coal, oil & gas, shipping and dredging.

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Lux Industries gains after rating agency revises upward rating for bank facilities
Oct 14,2016

The announcement was made after market yesterday, 13 October 2016.

Meanwhile, the S&P BSE Sensex was up 30.83 points or 0.11% at 27,673.94.

High volumes were witnessed on the counter. On BSE, so far 8,264 shares were traded in the counter as against average daily volume of 3,488 shares in the past one quarter. The stock hit a high of Rs 730 and a low of Rs 677 so far during the day. The stock had hit a record high of Rs 781 on 5 January 2016. The stock had hit a record low of Rs 534 on 29 February 2016. The stock had outperformed the market over the past one month till 13 October 2016, rising 14.8% compared with 2.51% fall in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 9.98% as against Sensexs 0.62% drop.

The mid-cap company has equity capital of Rs 5.05 crore. Face value per share is Rs 2.

Lux Industries announced that the companys rating for long term bank facilities have been revised upwards by the rating agency, CARE from CARE A to CARE A+. The rating for short term bank facilities have been revised higher by CARE from CARE A1 to CARE A1 +.

Lux Industries net profit rose 18% to Rs 10.17 crore on 9.7% rise in net sales to Rs 179.89 crore in Q1 June 2016 over Q1 June 2015.

Lux Industries makes underwear. Its offerings include various kinds of hosiery products for men, women and children.

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SSWL hits record high
Oct 14,2016

The announcement was made during market hours today, 14 October 2016.

Meanwhile, the S&P BSE Sensex was up 31.19 points or 0.11% at 27,674.30.

On BSE, so far 8,550 shares were traded in the counter as against average daily volume of 13,319 shares in the past one quarter. The stock hit a high of Rs 775 so far during the day, which is a record high for the counter. The stock hit a low of Rs 744.40 so far during the day. The stock had hit a 52-week low of Rs 284 on 17 February 2016. The stock had outperformed the market over the past one month till 13 October 2016, surging 29.55% compared with 2.51% fall in the Sensex. The scrip had also outperformed the market in past one quarter, advancing 52.69% as against Sensexs 0.62% fall.

The small-cap company has equity capital of Rs 15.53 crore. Face value per share is Rs 10.

Steel Strips Wheels (SSWL) total increase is from original order of 7,000 wheels to about 34,000 wheels in the shipment period of October 2016 to March 2017. This is due to higher proliferation of the steel wheels usage per vehicle at VWs plant in Argentina and is expected to prevail in future. These additional orders will result in additional forex earnings of more than $600,000 for the stated shipment period.

Net profit of Steel Strips Wheels rose 53.1% to Rs 18.60 crore on 11.2% rise in net sales to Rs 325.40 crore in Q1 June 2016 over Q1 June 2015.

SSWL designs and manufactures automotive steel wheels and is among the leading supplier to Indian and global automobile manufacturers.

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Bank stocks gain on rate cut hopes
Oct 14,2016

Meanwhile, the S&P BSE Sensex was up 30.94 points or 0.11% at 27,674.13.

Among public sector banks, Punjab National Bank (up 2.21%), Bank of Baroda (up 1.04%), State Bank of India (SBI) (up 1.38%), Union Bank of India (up 1.3%), Canara Bank (up 1.42%), and Bank of India (up 1.53%) edged higher.

Among private sector banks, Axis Bank (up 0.24%), ICICI Bank (up 0.64%), Kotak Mahindra Bank (up 0.55%), and Yes Bank (up 0.18%) gained. IndusInd Bank (down 0.05%) and HDFC Bank (down 0.24%) declined.

The BSE Bankex had underperformed the market over the past one month till 13 October 2016, falling 4.65% compared with 2.51% fall in the Sensex. The index had, however, outperformed the market in past one quarter, gaining 1.4% as against Sensexs 0.62% drop.

The latest data showed that inflation based on consumer price index (CPI) dipped to 13-months low of 4.31% in September 2016 lower than 5.05% in August 2016. The corresponding provisional inflation rate for rural area was 4.96% and urban area 3.64% in September 2016 as against 5.87% and 4.22% in August 2016. The core CPI inflation moved up to 4.77% in September 2016 from 4.59% in August 2016. The cumulative CPI inflation rose to 5.4% in April-September 2016 compared with 4.51% in April-September 2015. The data was announced after market hours yesterday, 13 October 2016.

In its last policy meeting on 4 October 2016, the Reserve Bank of India (RBI) had cut repo rate by 25 basis points. The next meeting of the newly formed Monetary Policy Committee (MPC) is scheduled on 6 & 7 December 2016 and its resolution will be announced on 7 December 2016. The fall in CPI gives RBI much needed elbow room to cut rates to spur growth.

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Yes Bank drops amid volatility
Oct 14,2016

The announcement was made after market hours yesterday, 13 October 2016.

Meanwhile, the S&P BSE Sensex was up 8.06 points or 0.03% at 27,651.17.

On BSE, so far 34,000 shares were traded in the counter as against average daily volume of 2.67 lakh shares in the past one quarter. The stock lost as much as 0.87% at the days low of Rs 1,244 so far during the day. The stock rose as much as 0.56% at the days high of Rs 1,262.15 so far during the day. The stock had hit a 52-week low of Rs 632.25 on 20 January 2016. The stock had hit a record high of Rs 1,450 on 7 September 2016. The stock had outperformed the market over the past one month till 13 October 2016, advancing 4.12% compared with 2.51% fall in the Sensex. The scrip had also outperformed the market in past one quarter, surging 9.38% as against Sensexs 0.62% fall.

The large-cap bank has equity capital of Rs 422.28 crore. Face value per share is Rs 10.

Yes Bank said that a meeting of the board of directors of the bank will be held on 20 October 2016, to consider Q2 September 2016 results and to update on qualified institutional placement (QIP) and fund raising by way of QIP and debt issues, under the current shareholders approval which is valid till 6 June 2017.

Yes Banks net profit rose 32.8% to Rs 731.80 crore on 25.4% growth in total income to Rs 4762.83 crore in Q1 June 2016 over Q1 June 2015.

Yes Bank is one of the leading private sector banks in India.

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