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Maruti Suzuki India, Dr Reddys Laboratories in focus ahead of Q1 results
Jul 26,2016

Maruti Suzuki India, Zee Entertainment Enterprises, Bharti Infratel and Dr Reddys Laboratories are scheduled to unveil Q1 results today, 26 July 2016. Cement makers ACC and Ambuja Cements will unveil Q2 June 2016 results today, 26 July 2016.

Tata Motors said it is planning to offer the fourth series of its rated, listed, unsecured, redeemable, non-convertible debentures (NCDs) aggregating to Rs 400 crore. In this regard, the company is holding a meeting of its duly constituted committee of the board on 28 July 2016. The proposal to issue NCDs is pursuant to the approval of the shareholders passed vide special resolution at the 70th annual general meeting of the company held on 13 August 2015 and the board of directors resolution passed at its meeting held on 30 March 2016. The announcement was made after trading hours yesterday, 25 July 2016.

Canara Banks net profit fell 52.19% to Rs 228.95 crore on 3.81% decline in total income to Rs 11786.35 crore in Q1 June 2016 over Q1 June 2015. The result was announced after trading hours yesterday, 25 July 2016.

Central Bank of India said that the capital raising committee of the board of directors of the bank at their meeting held on 25 July 2016 approved raising of equity capital by issuance and allotment of upto 12.38 crore equity shares of the face value of Rs 10 each at the issue price of Rs 104.76 per equity share, aggregating to Rs 1297 crore to President of India (Government of India) on preferential basis. The capital raising committee also decided to hold an extra-ordinary general meeting (EGM) of shareholders on 18 August 2016 to consider the issue price for the proposed allotment. The announcement was made after trading hours yesterday, 25 July 2016.

PNC Infratech has been awarded a project involving four laning of Etah to Kasganj road in Uttar Pradesh for a contract value of Rs 232.91 crore. The company received the Letter of Award (LoA) from Public Works Department (PWD), Uttar Pradesh, on 25 July 2016. The announcement was made after trading hours yesterday, 25 July 2016.

Sunil Hitech Engineers scheduled a meeting of the board of directors of the company on 10 August 2016, to consider 10-for-1 stock split. The announcement was made after trading hours yesterday, 25 July 2016.

Sintex Industries said that its board will meet on Thursday, 28 July 2016, to consider rights issue of equity shares. The board will also consider issuing unsecured/secured redeemable non-convertible debentures/bonds aggregating up to Rs 1000 crore on a private placement basis, in one or more tranches. The announcement was made after trading hours yesterday, 25 July 2016.

Adani Power said that the convertible warrant holders, to whom the warrants were allotted in the month of May 2016 on preferential basis, have exercised their rights for conversion and applied for conversion of part of the warrants into equity shares.

Consequently, management committee of the board of directors of the company at its meeting held on 25 July 2016 has made allotment of total 2.75 crore equity shares of the face value of Rs 10 each (with a premium of Rs 22.54 per equity share) to the convertible warrant holders.

Subsequent to this allotment, the shareholding of the promoter and promoter group has increased to 63.738% of the enhanced paid up equity share capital of the company. The announcement was made after trading hours yesterday, 25 July 2016.

MOIL said it has received approval from the Government of Madhya Pradesh (MP) for mining lease of over 76.409 hectare land in Bharveli Awalajhari village of MP. The company is taking necessary steps to register and execute mining lease at the earliest possible. The announcement was made after trading hours yesterday, 25 July 2016.

Nava Bharat Ventures said that Maamba Collieries (MCL), the step-down subsidiary in Zambia, has synchronized the first 150 megawatts (MW) unit of the 300 MW power plant with the Zambian Grid. The synchronization of the second 150 MW unit will follow soon while stabilization and commercial operations of the two units will be pursued in the coming weeks. The announcement was made after trading hours yesterday, 25 July 2016.

Manappuram Finance said it is proposes to issue secured redeemable non-convertible debentures for Rs 100 crore, with a green shoe option of Rs 50 crore, aggregating to Rs 150 crore on private placement basis. Proposed date of allotment for the above issue will be on 28 July 2016. The announcement was made after trading hours yesterday, 25 July 2016.

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Maruti, Dr Reddys Lab in focus ahead of Q1 results
Jul 26,2016

Maruti Suzuki India, Zee Entertainment Enterprises, Bharti Infratel and Dr Reddys Laboratories are scheduled to unveil Q1 results today, 26 July 2016. Cement makers ACC and Ambuja Cements will unveil Q2 June 2016 results today, 26 July 2016.

Tata Motors intends to raise Rs 400 crore from the issue of rated, listed, unsecured, redeemable, non-convertible debentures (NCDs) aggregating to Rs 400 crore. In this regard, the company is holding a meeting of its duly constituted committee of the board on 28 July 2016. The announcement was made after trading hours yesterday, 25 July 2016.

Canara Banks net profit fell 52.19% to Rs 228.95 crore on 3.81% decline in total income to Rs 11786.35 crore in Q1 June 2016 over Q1 June 2015. The result was announced after trading hours yesterday, 25 July 2016.

Central Bank of India said that the capital raising committee of the board of directors of the bank at their meeting held on 25 July 2016 approved raising of equity capital by issuance and allotment of upto 12.38 crore equity shares of the face value of Rs 10 each at the issue price of Rs 104.76 per equity share, aggregating to Rs 1297 crore to President of India (Government of India) on preferential basis. The capital raising committee also decided to hold an extra-ordinary general meeting (EGM) of shareholders on 18 August 2016 to consider the issue price for the proposed allotment. The announcement was made after trading hours yesterday, 25 July 2016.

PNC Infratech has been awarded a project involving four laning of Etah to Kasganj road in Uttar Pradesh for a contract value of Rs 232.91 crore. The company received the Letter of Award (LoA) from Public Works Department (PWD), Uttar Pradesh, on 25 July 2016. The announcement was made after trading hours yesterday, 25 July 2016.

Sunil Hitech Engineers scheduled a meeting of the board of directors of the company on 10 August 2016, to consider 10-for-1 stock split. The announcement was made after trading hours yesterday, 25 July 2016.

Sintex Industries said that its board will meet on Thursday, 28 July 2016, to consider rights issue of equity shares. The board will also consider issuing unsecured/secured redeemable non-convertible debentures/bonds aggregating up to Rs 1000 crore on a private placement basis, in one or more tranches. The announcement was made after trading hours yesterday, 25 July 2016.

Adani Power said that the convertible warrant holders, to whom the warrants were allotted in the month of May 2016 on preferential basis, have exercised their rights for conversion and applied for conversion of part of the warrants into equity shares.

Consequently, management committee of the board of directors of the company at its meeting held on 25 July 2016 has made allotment of total 2.75 crore equity shares of the face value of Rs 10 each (with a premium of Rs 22.54 per equity share) to the convertible warrant holders.

Subsequent to this allotment, the shareholding of the promoter and promoter group has increased to 63.738% of the enhanced paid up equity share capital of the company. The announcement was made after trading hours yesterday, 25 July 2016.

MOIL said it has received approval from the Government of Madhya Pradesh (MP) for mining lease of over 76.409 hectare land in Bharveli Awalajhari village of MP. The company is taking necessary steps to register and execute mining lease at the earliest possible. The announcement was made after trading hours yesterday, 25 July 2016.

Nava Bharat Ventures said that Maamba Collieries (MCL), the step-down subsidiary in Zambia, has synchronized the first 150 megawatts (MW) unit of the 300 MW power plant with the Zambian Grid. The synchronization of the second 150 MW unit will follow soon while stabilization and commercial operations of the two units will be pursued in the coming weeks. The announcement was made after trading hours yesterday, 25 July 2016.

Manappuram Finance said it is proposes to issue secured redeemable non-convertible debentures for Rs 100 crore, with a green shoe option of Rs 50 crore, aggregating to Rs 150 crore on private placement basis. Proposed date of allotment for the above issue will be on 28 July 2016. The announcement was made after trading hours yesterday, 25 July 2016.

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Axis Bank may decline after poor Q1 outcome
Jul 25,2016

Axis Banks net profit fell 21.37% to Rs 1555.53 crore on 13.22% growth in total income to Rs 13852.18 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours on Friday, 22 July 2016. The fall in net profit was due to a sharp surge in provisions and contingencies. Provisions and contingencies jumped 88.73% to Rs 2117.17 crore in Q1 June 2016 over Q1 June 2015. On a sequential basis, provisions and contingencies surged 81.21%. The banks net interest income rose 11.36% to Rs 4516.92 crore in Q1 June 2016 over Q1 June 2015. The core operating profit rose 3.27% to Rs 3558.19 crore in Q1 June 2016 over Q1 June 2015. The figure of core operating profit is arrived at after deducing trading income from operating profit.

On absolute basis, Axis Banks gross non-performing assets (NPA) edged higher to Rs 9553.17 crore as on 30 June 2016 from Rs 6087.51 crore on 31 March 2016 and Rs 4251.18 crore as on 30 June 2015. The ratio of gross NPA to gross customer assets edged higher to 2.54% as on 30 June 2016 from 1.67% as on 31 March 2016 and 1.38% as on 30 June 2015. The ratio of net NPA to net customer assets edged higher to 1.08% as on 30 June 2016 from 0.7% as on 31 March 2016 and 0.48% as on 30 June 2015.

Axis Bank attributed increase gross and net NPA to slippages from its watch list loans. As on 30 June 2016, loans outstanding on the banks watch list reduced 10% over the previous quarter and stood at Rs 20295 crore. The reduction in the watch list primarily represents slippages to NPAs amounting to Rs 2680 crore, which comprises 92% of the total corporate credit slippages. The banks provision coverage ratio declined to 69% as on 30 June 2016 from 72% as on 31 March 2016.

The cumulative value of net restructured assets as on 30 June 2016 stood at Rs 7363 crore, constituting 1.99% of net customer assets, compared to Rs 8072 crore, constituting 2.25% of net customer assets as on 31 March 2016.

The banks advances grew 21% year-on-year (YOY) to Rs 3.44 lakh crore as on 30 June 2016. Retail advances grew 24% YOY and stood at Rs 1.43 lakh crore, constituting 41% of the net advances of the bank. Corporate credit grew 21% YOY and stood at Rs 1.58 lakh crore, constituting 46% of net advances. SME advances grew 13% YOY and stood at Rs 43611 crore as on 30 June 2016. Axis Bank said that the bank remains well capitalized to pursue growth opportunities.

Vedanta and Cairn India will be in focus after Vedanta sweetened the terms of the deal for the merger of Cairn India with Vedanta. As per the revised terms of the merger deal, the public shareholders of Cairn India will receive one equity share of Vedanta for each share held in the company. Additionally, the public shareholders of Cairn India will get four 7.5% redeemable preference shares (RPS) of Vedanta of the face value of Rs 10 each with tenure of 18 months for each share held in Cairn India. As per the original terms of the deal announced in June 2015, Cairn India shareholders were to get one equity share of Vedanta for each share held in the company and one 7.5% redeemable preference shares (RPS) of Vedanta of the face value of Rs 10 each with tenure of 18 months for each share held in Cairn India. The recent commodity price environment has further strengthened the strategic rationale for the merger, the two Vedanta group companies said in a joint statement.

Following completion of the transaction, Vedanta plc ownership in Vedanta is expected to decrease to 50.1% from its current 62.9% shareholding. Cairn India minority shareholders will own 20.2% and Vedanta minority shareholders will own 29.7% stake in the merged entity. Sudhir Mathur, CFO and Acting CEO of Cairn India said in a statement that Cairn India shareholders will benefit from exposure to a diversified portfolio of world-class, low cost, long-life assets of Vedanta. Tom Albanese, CEO of Vedanta said that the strategic rationale for merging Vedanta and Cairn India remains highly compelling. Diversified resources companies have delivered superior returns for shareholders historically, Albanese said.

Rallis Indias consolidated net profit rose 310.9% to Rs 174.20 crore on 45.4% rise in total income to Rs 610.31 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours on Friday, 22 July 2016.

Tata Metaliks consolidated net profit rose 25.6% to Rs 34.44 crore on 1.3% fall in total income to Rs 315.28 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours on Friday, 22 July 2016.

Hinduja Ventures net profit rose 1.3% to Rs 24.21 crore on 132.5% rise in total income to Rs 61.91 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours on Friday, 22 July 2016.

Meanwhile, Hinduja Ventures said that the transactions involving purchase of 43.03 lakh equity shares and 7.03 crore preference shares of IndusInd Media and Communications (IMCL), a subsidiary of the company from Grant Investrade (GIL), a wholly owned subsidiary of the company, has been completed on 22 July 2016. The announcement was made after market hours on Friday, 22 July 2016.

Cyient said that the company has set up a wholly owned subsidiary at Israel name called Cyient Israel India. The announcement was made after market hours on Friday, 22 July 2016.

Gujarat Fluorochemicals said that the company has entered into an agreement for sale of its stake in its Joint Venture Company Xuancheng Hengyuan Chemical Technology Company, China. Accordingly, Xuancheng Hengyuan Chemical Technology Company, China will cease to be a Joint Venture Company of Gujarat Fluorochemicals on receipt of approval from the relevant regulatory authorities and transfer of the companys shareholding in the Joint Venture Company. The announcement was made after market hours on Friday, 22 July 2016.

IL&FS Engineering and Construction Company has received a Letter of Acceptance (LoA) from Nagpur Metro Rail Corporation, a Joint Venture of Government of India & Government of Maharashtra, for Rs 532.67 crore Nagpur Metro Rail Project. The project involves construction of Seven Elevated Metro Stations, and Three At-Grade Stations. The Project is to be completed in 110 weeks from the date of issue of LOA. The announcement was made after market hours on Friday, 22 July 2016.

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ITC may gain on good Q1 results
Jul 22,2016

Cigarette major ITCs net profit rose 10.09% to Rs 2384.67 crore on 8.61% increase in total income to Rs 13673.58 crore in Q1 June 2016 over Q1 June 2015. The result was announced after trading hours yesterday, 21 July 2016.

Cairn Indias consolidated net profit fell 28.27% to Rs 359.55 crore on 21.57% decline in total income to Rs 2288.71 crore in Q1 June 2016 over Q1 June 2015. The result was announced after trading hours yesterday, 21 July 2016.

NHPC announced after market hours yesterday, 21 July 2016 that it has signed a memorandum of understanding (MOU) yesterday, 21 July 2016 with Bharat Heavy Electricals (Bhel) for undertaking of Hydro Power Projects in overseas markets. As per the MOU, NHPC and Bhel will look after the civil and electro mechanical package respectively.

HDFC announced after market hours yesterday, 21 July 2016 that it has completed the issue of rupee denominated bonds aggregating to Rs 3000 crore yesterday, 21 July 2016.

ONGC will be in focus. ONGC Videsh Vankorneft, an indirect wholly owned subsidiary of ONGC Videsh has raised $1 billion through debt instruments issued in global markets. The company raised $400 million through senior unsecured notes due 2022 and $600 million of senior unsecured notes due 2026. The notes are guaranteed by ONGC and have been assigned a Baa2 rating by Moodys and BBB- by S&P. The transaction is the largest achieved by an Indian insurer in 2016 and the First Dual tranche insurance from India in 2016, ONGC Videsh is a wholly owned subsidiary of ONGC. ONGC intends to use the notes proceeds to refinance a part of the bridge loan availed for the acquisition of a 15% equity interest in JSC Vankorneft, Russia. The announcement was made after trading hours yesterday, 21 July 2016.

Biocons consolidated net profit rose 34.46% to Rs 166.60 crore on 22.72% rise in total income to Rs 1023,.30 crore in Q1 June 2016 over Q1 June 2015. The result was announced after trading hours yesterday, 21 July 2016.

Axis Bank is scheduled to announce its Q1 result today, 22 July 2016.

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Hindustan Zinc may decline on weak Q1 results
Jul 21,2016

Hindustan Zincs net profit fell 46.55% to Rs 1036.86 crore on 25.45% drop in total income to Rs 3140.74 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 20 July 2016.

Ambuja Cements will be in focus. The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi, yesterday, 20 July 2016 approved the proposal for Ambuja Cements for acquisition of 24% shares in its holding company-Holcim (India) from Holderind Investment and subsequent reverse merger through a share swap. This would entail outflow of Rs 3500 crore.

These transactions would enable Lafarge Holcim group to create a linear corporate structure (with Ambuja and ACC becoming parent and subsidiary) with a view to harvest significant synergies from India operations. This will further strengthen all India footprints, debt free balance sheet and cash flow generation, bringing in huge prospects for further expansion and creation of employment opportunities.

Mahindra & Mahindra (M&M) turns ex-dividend today, 21 July 2016 for dividend of Rs 12 per share for the year ended 31 March 2016 (FY 2016).

Larsen & Toubro Infotech (L&T Infotech) makes its debut on the secondary equity markets today, 21 July 2016. The company had priced its initial public offer (IPO) at Rs 710 per share -- the top end of the Rs 705-710 per share price band for the IPO. The IPO received strong response from investors. The companys promoter and engineering & construction major L&T sold a part of its stake through the IPO of L&T Infotech.

L&T Infotech offers an extensive range of IT services to clients in diverse industries such as banking and financial services, insurance, energy and process, consumer packaged goods, retail and pharmaceuticals, media and entertainment, hi-tech and consumer electronics and automotive and aerospace. Based on consolidated financial performance, the companys net profit rose 19.89% to Rs 922.17 crore on 17.45% growth in revenue from operations to Rs 5847.06 crore in the year ended 31 March 2016 over the year ended 31 March 2015.

Cairn India, HDFC Bank, and Kotak Mahindra Bank will announce Q1 results today, 21 July 2016.

Central Bank of India announced after market hours yesterday, 20 July 2016 that a meeting of the Capital Raising Committee of the Board of Directors of the bank will be held on 25 July 2016 to consider and approve raising of additional equity capital upto Rs 1297 crore by issuance and allotment of equity shares of the face value of Rs 10 each at such issue price including premium per equity share as may be determined on preferential basis subject to approval of Reserve Bank of India, shareholders and other statutory authorities (if any).

HPCL announced after market hours yesterday, 20 July 2016 that the Board of Directors of the company at its meeting held on 20 July 2016, have considered and recommended increase in authorised share capital to Rs 2500 crore and further recommended Capitalisation of Reserves and issue of fully paid bonus shares in the ratio of 2 bonus shares for every 1 existing equity share.

HPCL also announced that the Board of Directors of the company at its meeting held on 20 July 2016, have approved Visakh refinery capacity expansion from 8.33 MMTPA to 15 MMTPA with residue up-gradation facility meeting BS VI fuel specification compliance under Visakh Refinery Modernization Project (VRMP). The project involves an investment of Rs 20928 crore and is expected to be mechanically completed within 48 months from the date of approval.

IIFL Holdings announced after market hours yesterday, 20 July 2016 that the board of directors of the company at its meeting held on 20 July 2016 approved the proposed investment of about Rs 1000 crore by CDC Group Plc, UK [CDC] in the wholly owned subsidiary of the company namely India Infoline Finance, a systemically important Non Banking Financial Company [NBFC] of the Group. The investment is by way of issue and allotment of equity shares and compulsorily convertible preference shares [CCPS] subject to necessary regulatory approvals;

The board approved entering into an Investment Agreement amongst the company, India Infoline Finance and CDC in relation to the aforesaid investment. Upon the consummation of the transaction, CDC will hold around 15% equity stake in India Infoline Finance on a fully diluted basis i.e. assuming full conversion of CCPS and maximum possible dilution due to vesting of all outstanding stock options.

NHPC announced after market hours yesterday, 20 July 2016 that a meeting of the board of directors of the company will be held on tomorrow, 22 July 2016, to consider and approve raising of corporate bonds upto Rs 4500 crore till September 2017, on private placement basis subject to shareholders approval through special resolution.

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Wipro may drop on weak Q1 results
Jul 20,2016

Wipros consolidated net profit attributable to equity holders fell 6.38% to Rs 2051.80 crore on 11.12% growth in gross revenue to Rs 13599.20 crore in Q1 June 2016 over Q1 June 2015. The results are as per International Financial Reporting Standards (IFRS). Revenue from IT services business rose 2.6% to $1,930.8 million in Q1 June 2016 over Q4 March 2016. Non-GAAP constant currency IT services segment revenue in dollar terms grew 2% sequentially and 9.5% on year-on-year basis. The company announced the first quarter results after trading hours yesterday, 19 July 2016.

Wipro expects a muted 0.01% to 0.99% growth in revenue from IT services business at between $1,931 million to $1,950 million in Q2 September 2016 over Q1 June 2016. Wipros management expects the trajectory of growth to build gradually over the course of the year based on execution with regard to the companys strategic themes and as the company makes progress towards achieving a sustainable growth trajectory.

Meanwhile, Wipro and Viteos Group have cancelled the definitive agreement signed in December 2015 whereby Wipro had agreed to acquire Viteos Group. Wipro said in a statement that both the parties have decided not to proceed with the deal due to inordinate delays in completion of closing conditions that exceeded the target closing date under the terms of the agreement.

Shree Cement announced after trading hours yesterday, 19 July 2016 that the company has completed the up-gradation of preheater of clinker line of Unit-I at Beawar (Rajasthan) on 15 July 2016. Consequently, the clinker capacity of Unit-I stands increased from 1.1 million tonnes per annum (MTPA) to 1.4 MTPA.

Sasken Communication Technologies, Crompton Greaves, Hindustan Zinc, Gammon India among others will announce quarterly results today, 20 July 2016.

DLF said before market hours today, 20 July 2016 that it has been jointly decided by DLF and Ridgewood Holdings to realign the current shareholding arrangement in the JV companies in order to maintain continued focus of future development of various projects. Given the current strategy coupled with market conditions, DLF is currently focused on select projects in certain micro markets.

As a part of strategic objectives, DLF through its wholly-owned subsidiary DLF Home Developers had entered into joint venture agreements with Ridgewood Holdings, which term shall include its affiliates who acquired shares in accordance with the terms of the definitive documents for development of seven residential projects in the cities of Bangalore, Chennai, Kochi and Indore.

Indiabulls Housing Finance said before market hours today, 20 July 2016 that the company proposes to issue 250 secured non-convertible redeemable debentures with a face value of Rs 10 lakh each aggregating to Rs 25 crore plus Greenshoe Option, on private placement basis.

Karnataka Bank turns ex-dividend today, 20 July 2016 for dividend of Rs 5 per share for the year ended 31 March 2016 (FY 2016).

Crisils consolidated net profit rose 7.53% to Rs 69.81 crore on 13.88% rise in total income to Rs 387.09 crore in Q2 June 2016 over Q2 June 2015. The company announced the first quarter results after trading hours yesterday, 19 July 2016.

Hindalco Industries announced after market hours yesterday, 19 July 2016 that it has received Reserve Bank of Indias approval and has accepted the offer in connection with off-market takeover offer made by METALS X to acquire shares of Aditya Birla Minerals, a subsidiary of Hindalco Industries under the relevant Laws of Australia,.

Anant Raj announced after market hours yesterday, 19 July 2016 that the board of directors of the company at its meeting held on 19 July 2016, has considered and approved the composite scheme of arrangement of demerger of Real Estate Division (Demerged Undertaking of Anant Raj Agencies Private Limited (ARAPL/ demerged company/amalgamating company) into Tauras Promoters & Developers Private (TPDPL/resulting company and subsequent amalgamation of remaining ARAPL with the company. It has also approved the demerger of Project Division (demerged undertaking) of the company into Anant Raj Global Limited (ARGL/resulting company) (a wholly owned subsidiary of the company, under incorporation) and subsequent listing of ARGL at BSE (BSE) and National Stock Exchange of India (NSE).

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HUL may gain on decent Q1 results
Jul 19,2016

FMCG major Hindustan Unilever (HUL)s net profit rose 9.79% to Rs 1173.90 crore on 3.36% growth in total income to Rs 8235.77 crore in Q1 June 2016 over Q1 June 2015. The result hit the market during the fag end of trading hours yesterday, 18 July 2016.

During the quarter, against the backdrop of a challenging environment where market growth further slowed down in both volume and value terms, the business continued to track ahead of market with sustained margin improvement. Domestic Consumer business growth was at 4%, with 4% underlying volume growth and operating margin expanded by 70 bps. The growth was broad based across the segments.

Lower input costs resulted in 100 bps reduction in Cost of Goods Sold. Brand investments were maintained at competitive levels across segments. Profit before interest and tax (PBIT) grew by 7% and PBIT margin improved by 70 bps in Q1 June 2016 over Q1 June 2015. Profit after tax before exceptional items, PAT (bei), grew by 6% to Rs.1128 crore in Q1 June 2016 over Q1 June 2015. Net Profit rose aided by a one-time write back of provision for pension benefits arising from plan amendments.

HUL also announced a key change in the Management Committee of the company. Punit Misra, currently Executive Director and Vice President, Sales and Customer Development, has decided to leave Hindustan Unilever to pursue an external opportunity. Srinandan Sundaram, currently Vice President, Skin Care, will take over from Punit as the Executive Director, Sales & Customer Development, and will join the HUL Management Committee. The change will be effective from 1 September 2016.

Separately, HUL has proposed to make an investment of about Rs 1000 crore towards the setting up of a new manufacturing unit in the vicinity of its existing factory premises in Doom Dooma, Assam. This investment is subject to receipt of requisite approvals and clearances. The new unit that is envisaged to be commissioned in early 2017, will augment the production capacity of Personal Care products for HUL.

HUL has a manufacturing facility in Doom Dooma Industrial Estate of Upper Assam. The facility was originally set up in 2001 and currently houses three manufacturing units that produce Personal Care products (shampoo, skin creams and toothpaste).

The Government of Assam has been looking at attracting investment into the state by offering favourable policies that encourage and incentivise companies to set up manufacturing units. With over 15 years of operating experience in the state and considering the support from the State Government and the local community, HUL has decided to set up the new manufacturing unit in Assam.

It is also intended to encourage suppliers to establish units for packing material supplies and it is expected that the new unit will lead to the creation of ancillary, logistics and warehousing opportunities within the region. The proposal is consistent with HULs commitment to Make in India and a reflection of its priority to invest for sustained growth. Given the attractive outlook that the Company sees in Personal Care, the additional capacity will support the growth ambition and enable the business better serve its consumers. HUL has a wide footprint of manufacturing operations with over 30 factories located across India.

UltraTech Cement and Wipro will announce Q1 results today, 19 July 2016.

Yes Bank announced before market hours today, 19 July 2016 that global credit rating agency, Moodys Investor Service, vide its credit opinion dated 18 July 2016, has maintained its long term rating on Yes Bank at Baa3/P-3 with stable outlook. Moodys has consistently maintained a rating of Baa3/P-3 with stable outlook since its initial coverage on the bank in November 2010.

JSW Energy announced after market hours yesterday, 18 July 2016 that the company has agreed to acquire the 500 MW thermal power plant located at Bina, District Sagar in the State of Madhya Pradesh from Jaiprakash Power Ventures. The company has agreed to consider acquisition of 100% equity in Minerals & Energy Swaziland (Pty) Limited.

Jaiprakash Power Ventures reported net loss of Rs 196.16 crore in Q1 June 2016 compared with net profit of Rs 66.96 crore in Q1 June 2015. Total income fell 39.96% to Rs 767.45 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 18 July 2016.

The results for Q1 June 2016 are in respect of 400 megawatts (MW) Jaypee Vishnuprayag H.E. Plant, 500 MW Jaypee Bina Thermal Power Plant, 1320 MW Jaypee Nigrie Super Thermal Power Plant (JNSTPP), Jaypee Nigrie Cement Grinding Unit and Amelia (North) Coal Mine. The Q1 June 2015 results also included operating results for 300 MW Baspa II H.E. Plant and 1091 MW Karcham Wangtoo H.E. Plant. The company concluded the sale of these plants to JSW from 1 September 2015, hence the figures of the current quarter/ period are not comparable with figures of the corresponding quarter/ period in the previous year. The company now has aggregate power generation capacity of 2220 MW comprising of Hydro (400 MW).

Tata Steel said it will seek shareholder approval at an annual general meeting (AGM) on 12 August 2016, to issue non-convertible debentures on private placement basis worth Rs 10000 crore. The announcement was made after market hours yesterday, 18 July 2016.

Dabur India announced after market hours yesterday, 18 July 2016 that the companys wholly owned subsidiary - Dabur International has acquired 100% share capital of a new company namely DISCARIA TRADING (PTY) LTD in South Africa on 14 July 2016. Accordingly DISCARIA TRADING (PTY) LTD has become a step down wholly owned subsidiary company of Dabur India from 14 July 2016.

Exide Industries net profit rose 25.9% to Rs 196.05 crore on 11.67% rise in total income to Rs 2025.35 crore in Q1 June 2016 ove Q1 June 2015. The result was announced after market hours yesterday, 18 July 2016.

Piramal Enterprises announced before market hours today, 19 July 2016 that a meeting of the Administrative Committee of the Board of Directors of the company will be held on 21 July 2016 to consider and approve the issue of secured non-convertible debentures amounting upto Rs 1000 crore on private placement basis.

Byke Hospitality announced after market hours yesterday, 18 July 2016 that the companys one of the hotels The Byke- Suraj Plaza Thane (Maharashtra) has acquired wedding garden measuring approx 20000 square feet situated next to The Byke-Suraj Palza, Saibaba Vihar Complex, Godbunder Road, Anand Nagar, Thane West, Maharashtra.

Ballarpur Industries announced after market hours yesterday, 18 July 2016 that India Ratings & Research (a Fitch Group Company) has revised the long-term issuer rating (including non-convertible debentures) from IND A+ to IND A- and short-term issuer rating from IND A1+ to IND A1 of the company, while maintaining the rating on Rating Watch Evolving.

Camlin Fine Sciences announced after market hours yesterday, 18 July 2016 that the State Level Environment Impact Assessment Authority, Gujarat at its meeting held on 16 July 2016 has granted the environmental clearance to the company for setting up a manufacturing facility for Hydroquinone/ Catechol and its down-stream products at Dahej Sez, Bharuch District, Gujarat.The environmental clearance was granted with all the conditions recommended by the State Level Expert Appraisal Committee.

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RIL may gain on strong Q1 results
Jul 18,2016

Reliance Industries (RIL)s consolidated net profit rose 18.1% to Rs 7113 crore on 13.4% decline in turnover to Rs 71451 crore in Q1 June 2016 over Q1 June 2015. Earnings before interest and tax (EBIT) margin rose by 2.41% to 10.7% in Q1 June 2016 over that from Q1 June 2015. The result was announced after market hours on Friday, 15 July 2016. Decline in revenue was led by the 26% decline in benchmark (Brent) oil price which averaged at $45.6 per barrel in Q1 June 2016 as compared to $61.9 per barrel in Q1 June 2015. Impact of lower prices was partially offset by higher volumes in refining and petrochemicals segments. Gross refining margin rose to $11.5 per barrel in Q1 June 2016 from $10.4 per barrel in Q1 June 2015.

PSU OMCs and auto stocks will be in focus after PSU OMCs cut petrol price by Rs 2.25 a litre and diesel by 42 paise a litre late on Friday, 15 July 2016. The prices took effect from Saturday, 16 July 2016..

Hindustan Unilever (HUL), Tayo Rolls, Span Diagnostics, Mindtree, Hinduja Foundries, Gruh Finance, Exide Industries, Bharat Bijlee, and Aarey Drugs Pharmaceuticals will announce their quarterly results today, 18 July 2016.

IDFC Bank and Axis Bank will be in focus. The Reserve Bank of India on Friday, 15 July 2016 notified that foreign institutional investors (FIIs)/registered foreign portfolios investors (RFPIs) can now enhance investment from existing 24% to 46% of the paid up capital of IDFC Bank under the portfolio investment scheme (PIS). The RBI further notified that the total foreign investment from all sources i.e. foreign institutional investors (FII)/registered foreign portfolios investors (RFPIs)/foreign direct investment (FDI)/non-resident indians (NRI)/persons of Indian origin (PIO)/American depository receipts (ADR)/Global depository receipts (GDR)/ in IDFC Bank shall not exceed 46%. The RBI has stated that IDFC Bank has passed resolutions at its Board of Directors level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares by FIIs/RFPIs. The purchases could be made through primary market and stock exchanges.

The Reserve Bank of India on Friday, 15 July 2016 notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can raise stake from existing 62 per cent up to 74% of the paid up capital of Axis Bank under the Portfolio Investment Scheme (PIS). The Reserve Bank further notified that the total foreign investment in the bank shall not exceed 74% of paid up capital. The Reserve Bank has stated that the Axis Bank has passed resolutions at its Board of Directors level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares and convertible debentures by FIIs/RFPIs. The purchases could be made through primary market and stock exchanges.

Glenmark Pharmaceuticals announced before market hours today, 18 July 2016 that subsequent to the rating received by the leading credit agencies in the world i.e. S&P and Fitch, the company has decided to tap into the International Bond market and is planning to raise around $200 million by issuing dollar denominated non-convertible unsecured bonds. The net proceeds will be used for repaying the existing debt. These bonds are planned to be listed on the Singapore Stock Exchange in order to establish the companys track record in the globally recognized bond market.

Bharti Airtel announced on Sunday, 17 July 2016 an effective reduction in pre-paid data tariffs by increasing data benefits on some of its pre-paid data recharge packs. Airtel customers will now enjoy more value on these existing packs and can add to their mobile internet experience by staying online longer and download more of their favorite content.

Under the revised data benefits, the Rs 655 4G/3G monthly recharge pack will now offer 5 GB data vs 3 GB earlier, an increase of 67%. Similarly, the Rs 455 pack 4G/3G pack now offers 50% more data by increasing data benefit to 3 GB from 2 GB. The Rs 989 4G/3G pack will now offer 10 GB data vs 6.5 GB earlier, offering 54% more benefits. 2G/3G/4G Sachet Packs also see major increase in benefits. The Rs 25 2G pack now offers 45% more data at 145 MB vs 100 MB earlier, while the Rs 145 4G/3G pack now offers 32% more data benefits at 580 MB vs 440 MB earlier. Even the Rs 5 one day 2G data pack benefits have been increased by 48% to 30 MB keeping in mind non-regular/first time users, particularly in rural markets.

Tata Motors turns ex-dividend today, 18 July 2016 for dividend of Rs 0.20 per share for the year ended 31 March 2016 (FY 2016).

Dr Reddys Laboratories turns ex-dividend today, 18 July 2016 for dividend of Rs 20 per share for the year ended 31 March 2016 (FY 2016).

Alstom T&D India turns ex-dividend today, 18 July 2016 for dividend of Rs 1.80 per share for the year ended 31 March 2016 (FY 2016).

Agro Tech Foods turns ex-dividend today, 18 July 2016 for dividend of Rs 2 per share for the year ended 31 March 2016 (FY 2016).

Century Textiles Industries turns ex-dividend today, 18 July 2016 for dividend of Rs 5.50 per share for the year ended 31 March 2016 (FY 2016).

Elecon Engineering Company turns ex-dividend today, 18 July 2016 for dividend of Rs 1.10 per share for the year ended 31 March 2016 (FY 2016).

V-Guard Industries turns ex-dividend today, 18 July 2016 for final dividend of Rs 2.50 per share for the year ended 31 March 2016 (FY 2016).

Shriram Transport Finance Company turns ex-dividend today, 18 July 2016 for final dividend of Rs 6 per share for the year ended 31 March 2016 (FY 2016).

Visaka Industries turns ex-dividend today, 18 July 2016 for dividend of Rs 2 per share for the year ended 31 March 2016 (FY 2016).

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TCS to be watched after announcing Q1 results
Jul 15,2016

TCS consolidated net profit as per International Financial Reporting Standards (IFRS) fell 0.4% to Rs 6317 crore on 3% rise in revenue to Rs 29305 crore in Q1 June 2016 over Q4 March 2016. Operating income fell 0.9% to Rs 7347 crore in Q1 June 2016 over Q4 March 2016. The result was announced after market hours yesterday, 14 July 2016.

Commenting on the Q1 performance, N Chandrasekaran, CEO and MD, TCS, said that strong execution and accelerating customer adoption of cloud, big data & analytics has driven broad-based growth across key markets and industries. The companys investments in platforms are gaining significant traction as customers look to boost business agility and enhance their time-to-market advantage to gain a competitive edge, he added.

Rajesh Gopinathan, Chief Financial Officer, TCS, said this has been a quarter of good financial performance balancing revenue growth, profitability and cash generation. The companys disciplined approach to operations have helped counter strong headwinds in the form of annual salary hikes and promotions as well as global currency and market volatility through the quarter. The company continues to invest in people, platforms and products as it looks to strengthen competitive position across key markets, he added.

TCS declared an interim dividend of Rs 6.50 per share for the year ending 31 March 2017 (FY 2017).

Among prominent earnings, software major Infosys is scheduled to announce its Q1 June 2016 results at around 9:15 IST today, 15 July 2016. Reliance Industries (RIL) will announce its Q1 June 2016 earnings today, 15 July 2016.

Steel Strips Wheels, NIIT Technologies, Mastek, and LIC Housing Finance among others will announce their quarterly results today, 15 July 2016.

HDFC announced after market hours yesterday, 14 July 2016 that it has successfully priced its first overseas issue of unrated rupee denominated bonds yesterday, 14 July 2016. The company is the first Indian corporate issuer of rupee denominated bonds overseas pursuant to applicable Reserve Bank of India guidelines. The Rs 3000 crore issue of unsecured rupee denominated bonds bears a fixed semi-annual coupon of 7.875% per annum and has a tenor of 3 years and 1 month. The bonds have been issued at a price of 99.24% of the par value and will be redeemed at par. The all-in annualised yield to the investors is 8.33% per annum. This is a rupee based transaction and there is no foreign exchange exposure for HDFC. The bonds will be listed on the London Stock Exchange and cannot be traded in the local Indian market. The issue proceeds would be used for the housing finance business of HDFC as well as for general corporate purposes.

Rupee denominated bonds are instruments through which Indian entities can raise funds by accessing overseas capital markets, while the bond investors hold the currency risk.

Meanwhile, shares of HDFC turn ex-dividend today, 15 July 2016 for final dividend of Rs 14 per share for the year ended 31 March 2016 (FY 2016).

Hero MotoCorp (HMCL) after market hours yesterday, 14 July 2016, announced the launch of the new Splendor iSmart 110, the first motorcycle to be developed completely in-house, with HMCLs own technology. Built on a completely new chassis and frame, the bike is powered by the new 110cc Torque on Demand engine that also features HMCLs patented i3S technology, the company said. The bike is now available at the Hero dealerships across India. The bike is priced at Rs 53,300 ex-showroom Delhi.

Berger Paints India turns ex-bonus today, 15 July 2016 for the bonus issue of 2 shares for every 5 shares held.

GlaxoSmithkline Pharmaceuticals turns ex-dividend today, 15 July 2016 for dividend of Rs 50 per share for the year ended 31 March 2016 (FY 2016).

Ingersoll-Rand India turns ex-dividend today, 15 July 2016 for final dividend of Rs 3 per share for the year ended 31 March 2016 (FY 2016).

Orient Cement turns ex-dividend today, 15 July 2016 for final dividend of Rs 1 per share for the year ended 31 March 2016 (FY 2016).

Tata Elxsi turns ex-dividend today, 15 July 2016 for dividend of Rs 14 per share for the year ended 31 March 2016 (FY 2016).

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Nalco in spotlight after securing bauxite mining lease in Odisha
Jul 14,2016

National Aluminium Company (Nalco) after market hours yesterday, 13 July 2016 announced that it has been granted Pottangi Bauxite mines in Koraput district of Odisha, where the companys 22.75 lakh tonne alumina refinery is located. As per a recent order issued by the state government of Odisha, Nalco has been granted the mining lease of Pottangi with an area covering 1,738 hectares for a period of 50 years. Nalcos expansion plans, including the proposed addition of fifth stream in its existing alumina refinery at an investment of Rs 5600 crore, greatly depended on this additional source of bauxite, the company said in a statement.

Mahindra & Mahindra (M&M) announced the incorporation of subsidiary company in the name of Merakisan to carry on the business of procuring and marketing agricultural produce including fruits and vegetables. Merakisan was incorporated as a wholly owned subsidiary of Mahindra Univeg (MUPL) which is a step-down subsidiary of M&M. The announcement was made after market hours yesterday, 13 July 2016.

MindTree announced after market hours yesterday, 13 July 2016 that it has launched Decision Moments, the first data analytics platform that applies continuous learning algorithms to large data pools, allowing businesses to generate meaningful and compelling insights that improve over time.

TCS, Cyient, Canfin Homes, Vimta Labs among others are scheduled to announce their quarterly results today, 14 July 2016.

NBCC (India) will be in focus after the Cabinet Committee on Economic Affairs approved disinvestment of 15% paid up equity of the company out of Government of Indias (GoI) 90% shareholding. The announcement was made after trading hours yesterday, 13 July 2016. The NBCC (India) stock slumped 10.72% to settle at Rs 229.80 yesterday, 13 July 2016, as investors awaited details regarding the quantum of the stake sale after media reports suggested that the government had approved divestment in the state-run firm. The divestment of stake will be carried out through the offer for sale (OFS) route via the stock exchanges mechanism. In order to inculcate a sense of belongingness amongst the employees of NBCC, GoI has decided to allot additional shares to the eligible and willing employees of the company at a discount of 5% to the issue/discovered (lowest cut off) price of the OFS. NBCC (India) is engaged in construction, engineering and project management consultancy services.

Shares of another state-run firm ITI will be in focus after the Cabinet Committee on Economic Affairs approved the proposal of Department of Telecommunication regarding transfer of shares by ITI to Special National Investment Fund (SNIF) to meet Securities and Exchange Board of Indias (Sebi) minimum public shareholding requirement. ITI will be allowed to transfer the requisite number of shares from President of India to SNIF as and when capital grant is released in the form of equity infusion to ITI as part of revival plan approved by the Cabinet in February 2014 so as to adhere to Sebis minimum 10% public shareholding requirement. ITI will be allowed to meet Sebis requirement of minimum 25% public shareholding by August 2017. The announcement was made after trading hours yesterday, 13 July 2016. ITI offers a complete range of telecom products and total solutions covering the whole spectrum of switching, transmission and access and subscriber premises equipment. Shares of ITI surged 18.78% to settle at Rs 34.15 yesterday, 13 July 2016, on reports that the government had cleared sale of assets in ITI. However, there was no such announcement from the government after the conclusion of the meeting of the Cabinet Committee on Economic Affairs.

Atul turns ex-dividend today, 14 July 2016, for dividend of Rs 10 per share for the year ended 31 March 2016 (FY 2016).

Bajaj Auto turns ex-dividend today, 14 July 2016, for final dividend of Rs 5 per share for the year ended 31 March 2016 (FY 2016).

Bajaj Holdings & Investment turns ex-dividend today, 14 July 2016, for final dividend of Rs 7.50 per share for the year ended 31 March 2016 (FY 2016).

Bajaj Finance turns ex-dividend today, 14 July 2016, for final dividend of Rs 7 per share for the year ended 31 March 2016 (FY 2016).

Kotak Mahindra Bank turns ex-dividend today, 14 July 2016, for dividend of Rs 0.50 per share for the year ended 31 March 2016 (FY 2016).

Eveready Industries turns ex-dividend today, 14 July 2016, for dividend of Rs 1 per share for the year ended 31 March 2016 (FY 2016).

Jyothy Laboratories turns ex-dividend today, 14 July 2016, for final dividend of Rs 1 per share for the year ended 31 March 2016 (FY 2016).

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Jubilant FoodWorks in focus after launch of BurgerPizza
Jul 13,2016

Jubilant FoodWorks before market hours today, 13 July 2016, announced a significant new innovation for the Indian market - the BurgerPizza. 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.

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

Sun Pharmaceutical Industries (Sun Pharma) announced before market hours today, 13 July 2016 that effective August 2016, Abhay Gandhi currently CEO - India and Sub-continent business will take over as CEO - North America business of Sun Pharma subject to necessary approvals and will be based in USA. In his new role, Abhay Gandhi will spear-head the growth of Sun Pharmas business in North America, the company said in a statement. Additionally, effective January 2017, Kal Sundaram, currently CEO - North America business will assume the position of CEO - India Business & Emerging Markets, subject to necessary approvals. He will be based in Mumbai. Backed by his rich experience, growth mind-set and visionary qualities Kal will lead Sun Pharmas growth agenda for India and Emerging Markets business, the company said in a statement.

Great Eastern Shipping Company (GE Shipping) announced after market hours yesterday, 12 July 2016 that it has signed a contract to buy a medium range product tanker of about 48,539 dwt. The 2005 Japanese built vessel is expected to join the companys fleet in Q2 September 2016, GE Shipping said.

Cupid, Network18 Media Investments, Reliance Industrial Infrastructure and TV18 Broadcast will announce their quarterly results today, 13 July 2016.

Andhra Bank turns ex-dividend today, 13 July 2016 for dividend of Rs 0.50 per share for the year ended 31 March 2016 (FY 2016).

Ashok Leyland turns ex-dividend today, 13 July 2016 for dividend of Rs 0.95 per share for the year ended 31 March 2016 (FY 2016).

R S Software (India) turns ex-dividend today, 13 July 2016 for dividend of Rs 1 per share for the year ended 31 March 2016 (FY 2016).

Philips Carbon Black turns ex-dividend today, 13 July 2016 for dividend of Rs 2.50 per share for the year ended 31 March 2016 (FY 2016).

Hatsun Agro Product turns ex-bonus today, 13 July 2016 for bonus issue of 2 shares for every 5 shares held.

BPCL turns ex-bonus today, 13 July 2016 for 1:1 bonus issue.

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Coal India in spotlight as board approves share buyback
Jul 12,2016

Coal India announced that its board of directors at a meeting held yesterday, 11 July 2016, approved the buyback of equity shares not exceeding 10.89 crore shares of the company, from all the shareholders holding equity shares of the company as on record date on a proportionate basis through the tender offer route at a price of Rs 335 per share payable in cash for an aggregate consideration not exceeding Rs 3650 crore which is not exceeding 25% of the aggregate fully paid up share capital and free reserves of the company as per audited accounts of the company for the financial year ended 31 March 2016. The announcement was made after market hours yesterday, 11 July 2016.

Tata Power Company announced that its board of directors at a meeting held yesterday, 11 July 2016, approved issuance in one or more tranches, of non-cumulative, redeemable, taxable, listed, rated securities in the form of non-convertible debentures upto an aggregate amount not exceeding Rs 3500 crore and for tenor not exceeding 3 years (debentures) from the date of issue on private placement basis to any persons, entities, bodies corporate, companies, banks, financial institutions and any other categories of eligible investors permitted to invest in the debentures under applicable laws. The announcement was made after market hours yesterday, 11 July 2016.

Quess Corp makes its debut on the secondary equity markets today, 12 July 2016. The company had priced its initial public offer (IPO) at Rs 317 per share -- the top end of the Rs 310 to Rs 317 per share price band for the issue. The IPO had received strong response from investors. The proceeds from the IPO will be used for funding expansion of business, potential acquisition opportunities, for repayment of loan from the Bank of Nova Scotia and for meeting working capital requirements. Quess Corp provides comprehensive solutions including recruitment, temporary staffing, technology staffing, IT products and solutions, skill development, payroll, compliance management, integrated facility management and industrial asset management services.

Based on consolidated financial performance, Quess Corp registered net profit of Rs 88.52 crore on revenue from operations of Rs 3435.01 crore for the year ended 31 March 2016.

HDFC announced after market hours yesterday, 11 July 2016 that it will issue its first unrated synthetic rupee denominated Notes aggregating Rs 2000 crore with an option to retain oversubscription of upto Rs 1000 crore. The bonds will bear a fixed coupon and will have a tenor of 3 years and 1 month. The company proposes to list the Notes on the London Stock Exchange. Pricing will take place on or before 15 July 2016, subject to market conditions. The settlement shall be in the next week.

IL&FS Investment Managers announced that its board of directors at a meeting held yesterday, 11 July 2016, decided to subscribe to 2 lakh equity shares issued by IIML Asset Advisors (IAAL), its wholly owned subsidiary. The shares will be subscribed at a price of Rs 190 per share for a total consideration of Rs 3.80 crore. The announcement was made after market hours yesterday, 11 July 2016.

Shriram EPC announced that its board of directors at a meeting held yesterday, 11 July 2016, transacted conversion of the working capital term loan of the corporate debt restructuring (CDR) lenders into equity shares of the company to the maximum extent of Rs 1280 crore, subject to the shareholders and other regulatory approvals, at a price to be determined as per regulations. The board also transacted preferential issue to the holding company - SVL (erstwhile Shriram Industrial Holdings) of Rs 265 crore subject to shareholders and other regulatory approvals, at a price to be determined as per regulations. The announcement was made after market hours yesterday, 11 July 2016.

Bharat Seats turns ex-dividend today, 12 July 2016, for dividend of Rs 0.90 per share for the year ended 31 March 2016 (FY 2016).

Karur Vysya Bank turns ex-dividend today, 12 July 2016, for final dividend of Rs 4 per share for the year ended 31 March 2016 (FY 2016).

Shreyas Shipping Logistics turns ex-dividend today, 12 July 2016, for dividend of Rs 1.30 per share for the year ended 31 March 2016 (FY 2016).

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IndusInd Bank in spotlight ahead of Q1 results
Jul 11,2016

Shares of IndusInd Bank will be in spotlight as the bank is scheduled to announce its Q1 June 2016 earnings today, 11 July 2016.

Shares of Punjab National Bank (PNB) will be in focus after the Reserve Bank of India (RBI) notified on Friday, 8 July 2016 that the aggregate foreign share holding by Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs)/Non Resident Indian (NRI)/Persons of Indian Origin (PIO)/Foreign Direct Investment (FDI)/American Depository Receipts (ADR)/Global Depository Receipts (GDR) under Portfolio Investment Scheme (PIS) in PNB has gone below the prescribed threshold caution limit stipulated under the extant FDI policy. Hence, the restrictions placed on the purchase of shares of PNB are withdrawn with immediate effect.

IT stocks may edge lower on media reports that a bipartisan group of two US lawmakers has introduced in the House of Representatives a legislation, which if passed by the Congress would prevent Indian companies from hiring IT professionals on H-1B and L1 work visas. US is the biggest outsourcing market for Indian IT firms. The revenue model of many large-cap Indian IT companies is heavily dependent on H-1B and L1 visas in the US.

The H-1B is a non-immigrant visa in the United States which allows US employers to temporarily employ foreign workers in specialty occupations. The US L1 visa is a non-immigrant visa which allows companies operating both in the US and abroad to transfer certain classes of employee from its foreign operations to the US operations for up to seven years.

Bharti Airtel yesterday, 10 July 2016 announced that the transaction for acquisition of rights to use 20 MHz 2300 Band 4G TD spectrum from Aircel was successfully concluded for 6 out of 8 circles barring Andhra Pradesh and Orissa, following the receipt of all necessary approvals and satisfying all the conditions. Bharti Airtel said it will update the exchanges when the transactions for the remaining circles of Andhra Pradesh and Orissa are completed.

Tata Steel after trading hours on Friday, 8 July 2016, announced that it has entered into discussions with strategic players in the steel industry, including Thyssenkrupp AG for a strategic collaboration for its European businesses. The decision has been taken as an alternative to the ongoing process for the divestment of loss making Tata Steel UK. Tata Steel said that the discussions for strategic collaboration are currently at preliminary stage and there is no certainty of a transaction as the outcome depends on consultation and negotiations with various stakeholders. Tata Steel also said it would begin separate processes for the sale of its South Yorkshire specialty steels business and the Hartlepool pipe mills, excluding the 20-inch tube mill, in the UK. Tata Steel has already received interest from several bidders for these two businesses and the formal process for the sale of the businesses will commence shortly.

Shares of engineering and construction major L&T will be in focus as the companys subsidiary and IT outsourcing services provider Larsen & Toubro Infotech known as L&T Infotechs initial public offer (IPO) commences today, 11 July 2016. L&T Infotechs promoter L&T is selling a part of its stake through the IPO of L&T Infotech. L&T Infotech will not get any funds from the IPO and the entire sale proceeds will go to parent L&T. L&T is selling 1.75 crore shares of L&T Infotech through the IPO. The price band for the IPO has been fixed at Rs 705-710 per share. The IPO opens for bidding today, 11 July 2016 and closes on Wednesday, 13 July 2016.

Shares of Axis Bank, ITC and L&T will be in focus as media reports suggested that the central government has finally made up its mind to sell minority stakes held in many listed and unlisted companies through the Specified Undertaking of the Unit Trust of India (SUUTI), in a bid to meet its asset-sale target. The government invited bids from bankers for the mandate to manage the stake-sale process, reports suggested.

SUUTI held 11.53% stake in Axis Bank, 11.14% in ITC and 8.15% stake in L&T as per the shareholding pattern as on 31 March 2016.

Shares of Wipro turn ex-dividend today, 11 July 2016, for final dividend of Rs 1 per share for the year ended 31 March 2016.

Shares of JSW Energy turn ex-dividend today, 11 July 2016, dividend of Rs 2 per share for the year ended 31 March 2016.

Shares of GHCL turn ex-dividend today, 11 July 2016, for dividend of Rs 3.50 per share for the year ended 31 March 2016.

Shares of Exide Industries turn ex-dividend today, 11 July 2016, for final dividend of Rs 0.80 per share for the year ended 31 March 2016.

Shares of Jammu & Kashmir Bank turn ex-dividend today, 11 July 2016, for dividend of Rs 1.75 per share for the year ended 31 March 2016.

Shares of Onward Technologies turn ex-dividend today, 11 July 2016, for final dividend of Rs 1 per share for the year ended 31 March 2016.

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RIL will be watched after Reliance Jio raises funds by issuing bonds
Jul 08,2016

Reliance Industries (RIL) will be watched. Reliance Jio Infocomm (RJIL), a subsidiary of RIL, yesterday, 7 July 2016, issued Rs 2000 crore of 5 year Non-Convertible Debentures (NCDs), bearing a coupon of 8.32% per annum, payable annually. The issue has been assigned a rating of AAA by CRISIL and CRA. The proceeds of the issuance shall be utilized by RJIL for rolling out a digital services business in India. The announcement was made after market hours yesterday, 7 July 2016.n++

The transaction was fully subscribed within minutes of opening and was eventually over-subscribed with a total book size in excess of Rs 3500 crore, Reliance Jio said. Key investors include the prominent asset management companies and banks. Reliance Jio Infocomm is the first telecom operator to hold pan India Unified License. RJIL has created next-generation voice and broadband network which can be seamlessly upgraded even to 5G and beyond.

Bank of India said it raised Rs 1500 crore by issuing Basel-III compliant Tier II Bonds (Series-XII). The bonds have been rated as AA (+) by CRISIL and AA (+) by Brickwork and bear coupon rate of 8.57% per annum. The announcement was made after market hours yesterday, 7 July 2016.n++

Mahindra Holidays & Resorts said that its step-down subsidiary, Holiday Club Resorts Oy, Finland, has signed a joint venture (JV) agreement with City of Kuusamo for establishment of Tropiikin Rantasauna Oy. Holiday Club Resorts will hold 50% stake in Tropiikin. Shares worth 62500 euros will be acquired at the time of formation of Tropiikin, Mahindra Holidays & Resorts said. The announcement was made after market hours yesterday, 7 July 2016.n++

In a separate announcement after market hours yesterday, 7 July 2016, Mahindra Holidays & Resorts India said that Caribia Service Oy, Finland (Caribia), subsidiary of Holiday Club Resorts Oy, Finland, (HCR), a step-down subsidiary of the company, has been liquidated with effect from 4 July 2016. Consequently, Caribia ceased to be a subsidiary of HCR. In turn of the company and all the assets lying in its books were transferred to HCR being the sole shareholder of Caribia.

Sundaram Multi Pap said that its board has approved raising up to Rs 30 crore by issuing share warrants to the promoter and promoter group and by issuing fully paid up equity shares or issuing debentures by qualified institutional placements (QIP)/preferential issue. The announcement was made after market hours yesterday, 7 July 2016.n++

Indo Count Industriesn++announced that Indo Count Global, Inc, US announced a new licensing partnership with Walker Greenback PLC UK for three of its lifestyle brands viz. Sanderson, Harlequin and Scion. All three brands hava a particularly strong presence in UK and Australia and Indo Count said it recognized a gap in the North American market for this type of aesthetic. Indo Count said it will be launching new ranges for all three lifestyle brands this September during New York Home Textile Market Week. Indo Count added that it is targeting major retailers in the US market for all the three brands. The announcement was made after market hours yesterday, 7 July 2016.n++

Shares of Abbott India turn ex-dividend today, 8 July 2016, for final dividend of Rs 35 per share for the year ended 31 March 2016.

Shares of Cairn India turn ex-dividend today, 8 July 2016, for final dividend of Rs 3 per share for the year ended 31 March 2016.

Shares of Dewan Housing Finance Corporation turn ex-dividend today, 8 July 2016, for final dividend of Rs 2 per share for the year ended 31 March 2016.

Shares of MindTree turn ex-dividend today, 8 July 2016, for final dividend of Rs 3 per share for the year ended 31 March 2016.

Shares of Tata Coffee turn ex-dividend today, 8 July 2016, for dividend of Rs 1.30 per share for the year ended 31 March 2016.

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NBCC (India) in focus after winning orders
Jul 07,2016

NBCC (India) announced that it has secured a total business of about Rs 587.47 crore in June 2016. The announcement was made after market hours on Tuesday, 5 July 2016.

Tata Power Company announced that a meeting of its board of directors is scheduled on 11 July 2016, inter-alia to consider issuing non-convertible debentures on private placement basis, within the limits approved by the shareholders of the company. The announcement was made on Wednesday, 6 July 2016.

Shares of Axis Bank turn ex-dividend today, 7 July 2016, for dividend of Rs 5 per share for the year ended 31 March 2016. Before turning ex-dividend, the stock offered a dividend yield of 0.91% based on its closing price of Rs 543.90 on the BSE on Tuesday, 5 July 2016.

Shares of Swaraj Engines turn ex-dividend today, 7 July 2016, for total dividend of Rs 33 per share for the year ended 31 March 2016. This includes a special dividend of Rs 18 per share. Before turning ex-dividend, the stock offered a dividend yield of 2.66% based on its closing price of Rs 1,238.65 on the BSE on Tuesday, 5 July 2016.

Shares of Reliance Industries (RIL) will be in focus. GenNext Hub accelerated startup Dont Scratch Your Head (DSYH), a SaaS-based logistics reconciliation platform for e-commerce channels, has raised $250,000 funding from Venture Catalysts (VCats). GenNext Hub is a part of the four-month Scalerator Program backed by RIL and powered by Microsoft Accelerator India. GenNext Hub helps high-growth startups scale up fast through mentoring, funding, the RIL-Microsoft connect, and other resources. The announcement was made yesterday, 6 July 2016, when stock markets were closed for a public holiday.

Bank stocks will be in focus after the government finalized interest subvention scheme for farmers for the year 2016-17. The government will provide interest subvention of 5% per annum to all farmers for short term crop loan upto one year for loan upto Rs 3 lakh borrowed by them during the year 2016-17. In case farmers do not repay the short term crop loan in time, they would be eligible for lower interest subvention of 2% as against 5%. The government has approved interest subvention of 2% to farmers for loans upto 6 months for the post-harvest storage of farm produce. To provide relief to the farmers affected by natural calamities, interest subvention of 2% will be provided to banks for the first year on the restructured amount. The announcement hit the market after trading hours on Tuesday, 5 July 2016.

Telecom stocks will be in focus after the Narendra Modi government at the centre appointed Manoj Sinha as new Minister of Communications with independent charge in place of Ravi Shankar Prasad after splitting the Communications and Electronics & Information Technology ministry. Prasad continues to remain the minister of Electronics & Information Technology. After inducting 19 new Ministers of State, the Modi government on Tuesday, 5 July 2016, also announced a reshuffle of portfolios among the members of the Union Council of Ministers in a late night surprise announcement.

Shares of companies involved in the education sector will be in focus after Prakash Javadekar was made the new Human Resource Development minister in place of Smriti Irani. Irani has been made the new textiles minister.

Stocks of mining companies will be in focus after Piyush Goyal was given additional charge of the mines ministry (Independent Charge). The reshuffle of the portfolios has seen Chaudhary Birender Singh getting the steel ministry. Narendra Singh Tomar was earlier holding both mines and steel ministry portfolios.

Equitas Holdings will be watched. The Reserve Bank of India (RBI) has curbed foreign portfolio investors to buy shares in Equitas Holdings as foreign shareholding has reached prescribed limit.

RBI notified on Tuesday, 5 July 2016, that the aggregate foreign shareholding through American Depository Receipts (ADR)/ Global Depository Receipts (GDR)/ Foreign institutional Investors (FIIs)/ Registered Foreign Portfolios Investors (RFPIs)/ Foreign Direct Investment (FDI)/ Non-Resident Indians (NRI)/ Persons of Indian Origin (PIOs) in Equitas Holding has reached the trigger limit. Hence, further purchases of equity shares of this company would be allowed only after obtaining prior approval of RBI.

HCL Infosystems announced yesterday, 6 July 2016, that India Ratings and Research (Ind-Ra) has revised its long-term issuer rating of the company from IND A to IND A-. The outlook is stable.

Vakrangee announced corporate agency tie up with Religare Health Insurance Company (Religare) to distribute health insurance product through Vakrangee distribution network. Vakrangee said that citizens, especially in un-served and undeserved areas shall be able to access health insurance products and services offered/to be offered by Religare. The announcement was made after market hours on Tuesday, 5 July 2016.

Gujarat Industries Power Company (GIPCL) announced yesterday, 6 July 2016, that Solar Energy Corporation of India (SECI) has issued two letters of intent (LOIs) to GIPCL for 2x40 megawatts (MW) solar power project in Gujarat Solar Park, Village Charanka under National Solar Mission Phase-II, Batch IV.

3i Infotech announced yesterday, 6 July 2016, that the foreign currency convertible bond (FCCB) committee of the board approved issuing new FCCBs in exchange for two separate sets of existing FCCBs.

The FCCB committee approved issuing FCCBs of up to $52 million to the existing bondholders of the company, in exchange for the existing FCCB of $125.35 million, 5%, convertible bonds due 2017 (the 5% bonds) and $2.43 million, 4.75%, convertible bonds due 2017 (the 4.75% bonds, and together with the 5% bonds, the existing bonds). The board also approved amendment to the terms of the existing bonds.

The new bonds will be listed on Singapore Exchange Securities Trading. The FCCB issue opened on 5 July 2016. The floor price for the conversion of the bonds shall carry face value of Rs 10. The company has also issued notices to convene a meeting of the holders of the existing bonds on 27 July 2016 for approving the aforesaid amendments to the terms of the existing bonds.

Fiem Industries announced that it has received letter of intent for design, manufacture and supply of self-ballasted 9-watt LED bulbs with 3-year warranty from Energy Efficiency Services (EESL). The order is for 22.14 lakh LED bulbs. The order value is Rs 12.31 crore. The supply period is one month. The announcement was made after market hours on Tuesday, 5 July 2016.

PC Jeweller announced the opening of its new jewellery showroom in Bhubaneswar, Odisha. The new showroom is spread across a total area of 6,400 square feet. With the latest addition, the company now has 63 showrooms in 52 cities in India. The announcement was made after market hours on Tuesday, 5 July 2016.

Somany Ceramics announced that it has issued commercial paper of Rs 25 crore dated 5 July 2016, having maturity on 28 September 2016. The issuance of commercial paper is to reduce high interest bearing cash credit limits and in turn reducing cost of borrowing, Somany said. The announcement was made after market hours on Tuesday, 5 July 2016.

Skipper announced yesterday, 6 July 2016 that it has further expanded its international business by bagging new orders worth about Rs 100 crore in the countries of Kenya, Cameroon, Congo, Ghana & Malaysia as well as in the domestic market. These orders are for supply of transmission & sub-station towers, distribution poles and steel angles. The company has further received approval from Power Grid Corporation of India (PGCIL) for its poles division.

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