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Dr Reddys Lab in focus after launching Paricalcitol injection
Sep 20,2016

Dr Reddys Laboratories said it launched Paricalcitol injection, USP, a therapeutic equivalent generic version of Zemplar (paricalcitol) injection in the United States market approved by the US Food & Drug Administration (USFDA). The Zemplar brand and generic had US sales of approximately $22.5 million MAT for the most recent twelve months ending in July 2016 according to IMS Health. Dr. Reddys Paricalcitol Injection is available in 2 mcg, 5 mcg, and 10 mcg, and is the first ANDA product launched in the US market. The announcement was made after market hours yesterday, 19 September 2016.

Asian Paints announced after market hours yesterday, 19 September 2016, that as a part of the companys plan to consolidate its investments in the overseas subsidiaries, Asian Paints (International) (APIL), Mauritius, a wholly owned subsidiary of the company, has transferred its entire holding of 99.18% held in the subsidiary company, Asian Paints (Lanka), Sri Lanka, to Berger International, Singapore, a wholly owned subsidiary of APIL. The transfer process has been completed on 19 September 2016.

Mahindra & Mahindra (M&M) announced that India Ratings and Research (Ind-Ra) has assigned Provisional IND AAA rating with stable outlook for the companys proposed issue of Rs 475 crore non-convertible debentures. The ratings agency has also assigned IND A1+ rating for the companys proposed issue of Rs 700 crore commercial papers. The announcement was made after market hours yesterday, 19 September 2016.

Oriental Bank of Commerce said that the issue of Basel III Compliant Additional Tier 1 Bonds (private placement) was opened on 16 September 2016. The issue was fully subscribed to the extent of Rs 1000 crore and bonds were allotted on 16 September 2016. The announcement was made after market hours yesterday, 19 September 2016.

Canara Bank said that at a meeting of the board of directors of the bank is scheduled on 23 September 2016, note the consent of the Government of India on infusion of capital and rights issue. The bank will consider raising of capital by way of a rights issue and strengthening of Capital to Risk weighted Assets Ratio (CRAR) of the bank. The announcement was made after market hours yesterday, 19 September 2016.

Reliance Infrastructure announced that the board of directors of the company approved to amend the Object Clause of the Memorandum of Association of the company to include new activities relating to setting up any Trust, Funds including Venture Capital Funds, Infrastructure Investment Trust and Real Estate Investment Trust and other Alternative Investment Funds and defence business. The announcement was made after market hours yesterday, 19 September 2016.

Karur Vysya Bank said that the board of directors of the bank has considered and approved a 5-for-1 stock split. The announcement was made after market hours yesterday, 19 September 2016.

K.P.R. Mill has scheduled a board meeting on 5 October 2016, to consider stock-split proposal. The announcement was made after market hours yesterday, 19 September 2016.

Fiem Industries said that the fund raising committee of the board of directors approved allotment of 11.97 lakh equity shares of face value of 10 each to qualified institutional buyers at the issue price of Rs 1002 per share, aggregating to Rs 119.99 crore. The announcement was made after market hours yesterday, 19 September 2016.

Mangalam Cement said it has commenced commercial production of the new cement grinding unit with a capacity of 0.75 million ton per annum (MTPA) at Aligarh, Uttar Pradesh. The overall capacity is now enhanced from 3.25 MTPA to 4.00 MTPA. The announcement was made after market hours yesterday, 19 September 2016.

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ICICI Bank in focus as ICICI Prudential IPO to open for bidding
Sep 19,2016

Shares of ICICI Bank will be in focus as the initial public offer (IPO) of private sector life insurance company ICICI Prudential Life Insurance Company (ICICI Prudential) opens for bidding today, 19 September 2016. The IPO closes on 21 September 2016. The price band for the IPO has been fixed at Rs 300 to Rs 334 per share. The offer comprises sale up to 18.13 crore equity shares of ICICI Prudential, representing about 12.63% of its equity share capital for cash, through an offer for sale (OFS) by ICICI Bank. The entire proceeds from the OFS will be paid to ICICI Bank.

Power Grid Corporation of India said that the companys board of directors in their meeting held on 16 September 2016 has accorded investment approval for System Strengthening in Southern Region - XXI at an estimated cost of Rs 562.25 crore, with commissioning schedule of 30 months progressively from the date of investment approval. The announcement was made after market hours on Friday, 16 September 2016.

Axis Bank announced that the bank has kept its Marginal Cost of Funds based Lending Rate (MCLR) unchanged after a latest review. The banks Marginal Cost of Funds based Lending Rate (MCLR) for overnight loans will be 8.85%, the rate for one month will be 8.9% and for three months it will be 9.1%. The MCLR on 6-month loans will be 9.2% and for one-year loans the rate will be 9.25%, the bank said. MCLR on two-year loans will be 9.35% and for three-year loans the rate will be 9.4%. The rates are with effect from 17 September 2016. The announcement was made after market hours on Friday, 16 September 2016.

Separately, Axis Bank said that the bank has signed a Share Purchase Agreement with IFCI for acquisition of 73.28 lakh equity shares (13.67% of total outstanding shares) of face value of Rs 10 per share in Assets Care and Reconstruction Enterprise (ACRE) from IFCI at Rs 31 per share, resulting in a total cash consideration of Rs 22.72 crore. The transaction is subject to requisite regulatory approvals, including from Reserve Bank of India, Axis Bank said. The announcement was made after market hours on Friday, 16 September 2016.

The Reserve Bank of India notified that the foreign shareholding by American Depository Receipts (ADR)/Global Depository Receipts (GDR)/Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs)/Non Resident Indian (NRIs)/Foreign Direct Investment (FDIs)/Persons of Indian Origin (PIOs) in South Indian Bank has reached the trigger limit. Hence further purchases of equity shares of this company would be allowed only after obtaining prior approval of the Reserve Bank of India. The announcement was made after market hours on Friday, 16 September 2016.

IDFC said the company issued Commercial Papers for an aggregate amount of Rs 700 crore on 12 September 2016 having maturity date of 29 September 2016 which has been rated as A1+ by ICRA. Instruments with these rating are considered to have a strong degree of safety regarding timely payment of financial obligations and such instruments carry lowest credit risk. The aggregate amount of Commercial Paper outstanding as on date is Rs 700 crore. The announcement was made on Saturday, 17 September 2016.

Vipul received environmental clearance from the State Environment Impact Assessment Authority, Haryana, for its project Aarohan on Golf Course road in Gurgaon. Vipul said the company had raised debt from DMI Finance (DMI) to the tune of Rs 175 crore, and the money was utilized for pre-operative expenses of Project Aarohan.

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PSU OMCs and auto stocks will be in focus after revision in fuel prices
Sep 16,2016

PSU OMCs and auto stocks will be in focus after PSU OMCs hiked petrol price by 58 paise a litre and cut diesel price by 31 paise per litre in Delhi effective 16 September 2016 (including state levies), with corresponding price revision in other states. Petrol now costs Rs 64.05 a litre as against Rs 63.47 in Delhi. Similarly, diesel now costs Rs 52.63 a litre as compared to Rs 52.94 a litre.

Wipro announced after market hours yesterday, 15 September 2016 that the company and Reltio, an enterprise data driven applications and modern data management platform as a service company partnered to develop faster and cost effective master data management solutions. The partnership will help Reltio and Wipros clients bridge the gap between data and insights by boosting the reliability of information, while ensuring users get access to relevant data.

Punjab National Bank said that consequent upon receipt of capital funds to the tune of Rs 2112 crore from the Government of India on 14 September 2016, the bank has issued and allotted 16.43 crore equity shares at Rs 128.49 per equity share on preferential basis to Government of India. The announcement was made after market hours yesterday, 15 September 2016.

Union Bank of India said that the bank has on 15 September 2016 issued 10,000 Non-Convertible, Unsecured Subordinated Basel III Compliant Perpetual Debt Instruments eligible for inclusion in Additional Tier 1 Capital. The bond is issued for face value of Rs 10 lakh each at par aggregating to Rs 1000 crore on private placement basis bearing 9.50% per annum coupon payable annually. The AT1 Bonds are rated IND AA by India Ratings and Research and CARE AA by Credit Analysis & Research. The announcement was made after market hours yesterday, 15 September 2016.

Bharat Financial Inclusion said that the company on 15 September 2016 completed a securitization transaction of Rs 108 crore. With this, the company has completed three securitization transactions aggregating to Rs 852.44 crore in the year ending 31 March 2017 (FY 2017), Bharat Financial Inclusion said. The entire pool qualifies for priority sector treatment as per the Reserve Bank of Indias priority sector lending guidelines. The pool has been rated AA (SO) by a leading rating agency, signifying a high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk, the company said. The announcement was made after market hours yesterday, 15 September 2016.

Balasore Alloys said before market hours today, 16 September 2016 that the company has commenced the commercial production from 15 September 2016 at its Sukinda Unit, which was acquired from Jabamayee Ferro Alloys as a going concern on a slump sale basis situated at Tehsil Sukinda, Village & Mouza - Nijagarh, P.S. Sukinda, District - Jajpur, Odisha.The Sukinda Unit of the company has the installed capacity of production of 15,660 metric tonne per annum.

Den Networks announced after market hours yesterday, 15 September 2016 that a meeting of the board of directors of the company will be held on 20 September 2016, to discuss and approve proposal for preferential issue of shares to one of the leading global financial investors who will form part of the persons belonging to non promoter category, subject to approval of the board of directors, shareholders and in compliance with the all applicable laws.

Tube Investments of India announced after market hours yesterday, 15 September 2016 that it has entered into 50-50 joint venture with Chennai based Absolute Speciality Foods Chennai to open bicycle cafes in select locations in India under the Ciclo Cafe brand. Ciclo Cafn++ is a popular brand name in hospitality and cycling circuits.

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Ashok Leyland may gain on approval for amalgamation of Hinduja Foundries with company
Sep 15,2016

Ashok Leyland said that the board of directors approved the proposal of amalgamating Hinduja Foundries, a Hinduja Group Company with Ashok Leyland. The transaction is subject to various regulatory approvals and approval of shareholders of both the companies. The board of directors also approved, subject to regulatory approvals the exchange ratio wherin shareholders holding 100 shares in Hinduja Foundries will get 40 shares of Ashok Leyland. One thousand 2008 series global depository receipts (GDRs) of Hinduja Foundries will get 133 shares of Ashok Leyland. One 2006 series GDRs of Hinduja Foundries will get 4,800 shares of Ashok Leyland. The appointed date for the proposed transaction is 1 October 2016.

State Bank of India announced after market hours yesterday, 14 September 2016 that it has concluded the issue of $300 million AT1 Basel III compliant non-convertible, perpetual non call 5 year subordinated, unsecured note/bonds at a coupon 5.5% payable semi-annually, under banks $10 billion RegS MTN Programme. The notes will be issued through banks Dubai International Financial Centre Branch on 22 September 2016 and will be listed on Singapore Stock Exchange.

Reliance Communications (RCom) said the company and Maxis Communications Berhad (MCB), promoters of Aircel, a leading pan-India mobile operator signed definitive documents for the merger of their Indian wireless businesses-the largest-ever consolidation in the Indian telecom sector. The RCom-Aircel combination will create a strong operator ranked amongst Indias top 4 telecom companies by customer base and revenues, also ranking amongst the top 3 operators by revenues in 12 important circles.

The merged company will have the second-largest spectrum holding amongst all operators, aggregating 448 MHz across the 850, 900, 1800 and 2100 MHz bands, and will enjoy enhanced business continuity through extended validity of spectrum holdings till 2033-35. The merged company will be one of Indias largest private sector companies, with an asset base of over Rs 65000 crore ($9.7 billion) and net worth of Rs 35000 crore ($5.2 billion). The combined entity will enjoy substantial benefits of scale driving significant revenue growth, and capex and opex synergies with an NPV of Rs 20000 crore ($3 billion).

RCom and MCB will each hold a 50% stake in the merged entity with equal representation on the board of directors and all committees. The company will be managed by an independent professional team under the supervision of the board. RComs overall debt will reduce by Rs 20000 crore ($3 billion) or over 40% of its total debt, and Aircels debt will reduce by Rs 4000 crore ($600 million), upon completion of the transaction in 2017.

RCom will continue to own and operate its high growth businesses in the domestic and global enterprise space, data centers, optic fibre and related telecom infrastructure, besides owning valuable real estate. On consummation of the merger, RCom and MCB are committed to additional equity infusion into merged company to further strengthen the balance sheet, fund future growth plans, and enhance financial flexibility. Both parties are already in talks with leading international investors in this regard. The merged companys subscribers will have access to nationwide gold standard 4G LTE services on the sub-1 GHz band, under RComs existing nation-wide spectrum sharing/ ICR arrangements with Reliance Jio Infocomm.

The combined 2G, 3G and 4G networks position the merged entity for further strategic collaborations, and provide the entity the unique capability to offer a robust platform of services across all customer segments in all 22 telecom circles, including the mass market, leading to a superior customer experience at an affordable price point, and bringing the Internet to All in furtherance of Prime Minister Narendra Modis vision of Digital India.

Separately, RComs consolidated net profit rose 5.88% to Rs 54 crore on 3.75% decline in total income to Rs 5361 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 14 September 2016.

Unitech posted consolidated net loss of Rs 44.82 crore in Q1 June 2016 compared with net loss of Rs 279.63 crore in Q1 June 2015. Total income rose 26.94% to Rs 495.93 crore in Q1 June 2016 over Q1 June 2015. The result was announced before market hours today, 15 September 2016.

Shares of Hero MotoCorp turn ex-dividend today, 15 September 2016 for final dividend of Rs 32 per share for the year ended 31 March 2016.

Shares of Mahanagar Gas turn ex-dividend today, 15 September 2016 for final dividend of Rs 17.50 per share for the year ended 31 March 2016.

Shares of Oil India turn ex-dividend today, 15 September 2016 for final dividend of Rs 8 per share for the year ended 31 March 2016.

Shares of Reliance Capital turn ex-dividend today, 15 September 2016 for dividend of Rs 10 per share for the year ended 31 March 2016.

Shares of Reliance Infrastructure turn ex-dividend today, 15 September 2016 for dividend of Rs 8.50 per share for the year ended 31 March 2016.

NBCC (India) reported 16.39% rise in consolidated net profit to Rs 47.09 crore on 16.61% rise in total income from operations (net) to Rs 1273.26 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 14 September 2016.

BEML reported net loss of Rs 107.10 crore in Q1 June 2016, higher than net loss of Rs 68.10 crore in Q1 June 2015. Total income fell 49.7% to Rs 300.52 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 14 September 2016.

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Tata Steel may decline as net loss widens in Q1
Sep 14,2016

On a consolidated basis, Tata Steel reported net loss of Rs 3183.07 crore in Q1 June 2016, higher than net loss of Rs 316.91 crore in Q1 June 2015. Total income fell 5.5% to Rs 26542.83 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours on Monday, 12 September 2016. Stock market remained closed on Tuesday, 13 September 2016.

Tata Steels consolidated earnings before interest, taxation, depreciation and amortization (EBITDA) rose 21% to Rs 3270 crore in Q1 June 2016 over Q1 June 2015 due to improved operating performance across India, Europe, and South East Asia. EBITDA margin expanded to 12.4% in Q1 June 2016 from 9.6% in Q1 June 2015. Tata Steel said that the company recognised loss of Rs 3296 crore in Q1 June 2016 on account of divestment of Long Steel UK Limited.

In its business outlook for Indian business operations, Tata Steel said that India realisations in Q2 September 2016 are expected to be affected by lower demand from large steel consuming sectors such as construction and capital goods as well as seasonal sluggishness due to monsoon. Demand is expected to pick up post-monsoon and the festive season on the back of increase in disposable income due to the Pay Commission award, good harvest and easier liquidity, Tata Steel said. Supply side pressures from domestic steel companies likely to cap realisations and keep industry mill utilisation levels under check, the company said.

In its business outlook for European business operations, Tata Steel said that European Union economy is expected to continue to grow gradually though UKs stronger growth may slow down following the referendum result. Supply pressures from imports are expected to continue. The weaker pound is expected to improve UKs short term competitive position on exports, however it will add cost pressure due to higher cost of raw materials purchased in US dollars, Tata Steel said.

In its business outlook for South East Asia busines, Tata Steel said that steel demand is expected to be stable on the back of infrastructure building. Margins will remain under pressure as Chinas slowing growth and overcapacity is expected to result in continued exports to global markets, particularly South East Asia.

Tata Steel said that while iron ore prices have been volatile, coking coal prices have surged upwards by almost 60% since the start of August 2016. Prices of iron ore and coking coal are expected to remain volatile, the company said.

T V Narendran, Managing Director of Tata Steel India and South East Asia, said that seasonal headwinds and a slowdown in a large steel consuming sector like real estate affected steel demand in Q1 June 2016. While the regulatory changes have helped stem the flood of imports, domestic supply has increased and added to the competitive pressure, Narendran said. Tata Steel Kalinganagar commenced commercial production during Q1 June 2016 and the plant is ramping up well both in terms of output and quality, he said. Despite continued imports from China, the South East Asia operations have shown a significant improvement in the business due to the focus on downstream products and solutions, exports and effective management of spreads, he added.

Coal Indias consolidated net profit fell 14.78% to Rs 3065.28 crore on 6.11% decline in net sales to Rs 17796.05 crore in Q1 June 2016 over Q1 June 2015. The result was announced yesterday, 13 September 2016 when the stock market was closed on account of Bakri Id.

Reliance Capital announced on 13 September 2016 that its board of directors approved a proposal to independently list its home finance business - Reliance Home Finance Ltd (RHF) - on the stock exchanges. The independent listing of Reliance Home Finance is expected to unlock substantial value for existing shareholders of Reliance Capital. The listing of Reliance Home Finance will also lead to increased management focus and accelerated growth in the home finance business. As per the proposal, 49% stake in Reliance Home Finance Limited will be allotted to all shareholders of Reliance Capital, in the ratio of one share free of cost in Reliance Home Finance Limitedfor every one share held in Reliance Capital.

Reliance Capital will hold a 51% stake in Reliance Home Finance, and the company will be adequately capitalised to grow the lending book to over Rs 20000 crore in the next 18 months. The proposal is subject to necessary shareholders and other approvals. Reliance Home Finance, a 100% subsidiary of Reliance Capital, provides a wide range of loan solutions like home loan, LAP, Construction Finance and affordable housing loans. The company reported an AUM of Rs 8259 crore ($ 1.2 billion) during the quarter ended 30 June 2016.

Glenmark Pharmaceuticals announced before market hours today, 14 September 2016 that it has been granted final approval by the United States Food & Drug Administration (USFDA) for Diclofenac Sodium Gel, 3%, the generic version of Solaraze Gel, 3% of Fougera Pharmaceuticals Inc. According to IMS Health sales data for the 12 month period ending July 2016, the Solaraze Gel, 3% market achieved annual sales of around $297.90 million in the US.

Shares of Bharat Heavy Electricals (Bhel) and NHPC will be watched. NHPC announced after market hours on Monday, 12 September 2016, that it has awarded a contract worth Rs 132.74 crore to Bhel for renovation and modernization of 180 megawatts (MW) Baira Siul Power Station in Himachal Pradesh. The scope of the contract agreement includes electromechanical works packages comprising supply, erection, commissioning of turbines and accessories and dismantling of existing system.

Meanwhile, Bharat Heavy Electricals turns ex-dividend today, 14 September 2016, for final dividend of Rs 0.40 per share for the year ended 31 March 2016.

National Aluminium Company (Nalco)s net profit fell 22.55% to Rs 135.01 crore on 3.26% rise in total income to Rs 1682.63 crore in Q1 June 2016 over Q1 June 2015. The announcement was made after market hours on Monday, 12 September 2016.

Motherson Sumi Systems said that the board of directors of the company has considered and approved the issue and allotment of 1.77 crore equity shares of the company to Sumitomo Wiring Systems, Japan at Rs 317 per share on a preferential basis. The announcement was made after market hours on Monday, 12 September 2016.

Allahabad Bank announced after market hours on Monday, 12 September 2016, that Credit Analysis and Research (CARE) has assigned CARE AA rating to the banks proposed Basel-III compliant Tier 2 bonds aggregating to Rs 1000 crore. Further, CARE and Brickwork Ratings India have also reviewed the existing ratings of the banks outstanding Tier 1/Tier 2 Bonds rated by them.

Godfrey Phillips Indias net profit dropped 61.99% to Rs 22.38 crore on 12.06% fall in total income from operations to Rs 940.56 crore in Q1 June 2016 over Q1 June 2015. The result was announced yesterday, 13 September 2016, when the stock markets were closed on account of Bakri Id.

IL&FS Transportation Networks reported net profit of Rs 17.87 crore in Q1 June 2016 as compared to net loss of Rs 18.64 crore in Q1 June 2015. Total income rose 16.41% to Rs 1281.56 crore in Q1 June 2016 over Q1 June 2015. The result was announced yesterday, 13 September 2016, when the stock markets were closed on account of Bakri Id.

Balmer Lawrie & Company turns ex-dividend today, 14 September 2016, for dividend of Rs 20 per share for the year ended 31 March 2016.

Gujarat State Petronet turns ex-dividend today 14 September 2016, for dividend of Rs 1.50 per share for the year ended 31 March 2016.

PTC India Financial Services turns ex-dividend today, 14 September 2016, for dividend of Rs 1.20 per share for the year ended 31 March 2016.

PTC turns ex-dividend today, 14 September 2016, for final dividend of Rs 2.50 per share for the year ended 31 March 2016.

Repco Home Finance turns ex-dividend today, 14 September 2016, for dividend of Rs 1.80 per share for the year ended 31 March 2016.

SJVN turns ex-dividend today, 14 September 2016, for final dividend of Rs 0.47 per share for the year ended 31 March 2016.

T D Power Systems turns ex-dividend today, 14 September 2016, for dividend of Rs 3.05 per share for the year ended 31 March 2016.

Suzlon Energy reported consolidated net loss of Rs 259.97 crore in Q1 June 2016 compared with net profit of Rs 1014.34 crore in Q1 June 2015. Total income dropped 36.81% to Rs 1668.94 crore in Q1 June 2016 over Q1 June 2015. The result was announced on 13 September 2016.

Amtek Auto reported net loss of Rs 319.68 crore in Q1 June 2016 compared with net loss of Rs 157.60 crore in Q1 June 2015. Total income dropped 33.45% to Rs 576.49 crore in Q1 June 2016 over Q1 June 2015. The result was announced on 13 September 2016.

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Grasim Industries may gain as board approves increase in equity investment by RFPIs
Sep 12,2016

Grasim Industries said that board of directors on Saturday, 10 September 2016 approved the proposal to increase the limit for investment in the equity share capital of the company by registered foreign portfolio investors from 24% to 30% of the companys paid-up equity share capital of the company. The announcement was made on Saturday, 10 September 2016.

Maruti Suzuki India clarified that the companys Chairman RC Bhargavas statement in the Annual General Meeting (AGM) held on 8 September 2016 was limited to acknowledgement that he would convey requests made by the shareholders during the AGM for consideration of stock split to the board of directors. The company issued the clarification after market hours on Friday, 9 September 2016 after reports stated that Maruti will consider stock split.

Tata Steel announces Q1 result today, 12 September 2016.

Cipla turns ex-dividend today, 12 September 2016 for dividend of Rs 2 per share for the year ended 31 March 2016 (FY 2016).

L&T will be in focus as the initial public offer (IPO) of L&T Technology Services opens for bidding today, 12 September 2016. The IPO closes on Thursday, 15 September 2016. The price band for the IPO has been fixed at Rs 850-860 per share. The IPO comprises of an offer for sale of 1.04 crore shares by engineering and construction major L&T. L&T Technology Services will not receive any funds from the IPO. L&T currently owns 100% stake in L&T Technology Services. Its holding will fall to 89.77% after the IPO. The offer would constitute 10.2% of post-offer paid-up equity share capital of the company. L&T Technology Services provides Engineering, Research and Development (ER&D) services to manufacturing, technology and process engineering companies, to help them develop and build products, processes and infrastructure required to deliver products and services to their end customers.

Jaypee Infratech posted net loss of Rs 35.67 crore in Q1 June 2016 compared with net profit of Rs 20.86 crore in Q1 June 2015. Total income jumped 113.64% to Rs 1099.33 crore in Q1 June 2016 over Q1 June 2015. The result was announced on Saturday, 10 September 2016.

Balkrishna Industries net profit rose 46.64% to Rs 149.05 crore on 1.25% rise in total income to Rs 979.78 crore in Q1 June 2016 over Q1 June 2015. The result was announced on Saturday, 10 September 2016.

Sobhas consolidated net profit rose 1.98% to Rs 35.90 crore on 24.63% rise in total income to Rs 578.20 crore in Q1 June 2016 over Q1 June 2015. The result was announced on Saturday, 10 September 2016.

Reliance Defence and Engineering reported net loss of Rs 134.50 crore in Q1 June 2016 compared with net loss of Rs 167.27 crore in Q1 June 2015. Total income dropped 34.21% to Rs 74.18 crore in Q1 June 2106 over Q1 June 2015. The result was announced on Saturday, 10 September 2016.

Jaiprakash Associates reported net loss of Rs 602.95 crore in Q1 June 2016 compared with net loss of Rs 482.43 crore in Q1 June 2015. Total income decreased 26.99% to Rs 1747.76 crore in Q1 June 2016 over Q1 June 2015. The result was announced on Friday, 9 September 2016.

Jaiprakash Associates said on Saturday, 10 September 2016 that Unit-2 of 660 megawatts (MW) of 1980 MW Bara Supercritical Thermal Power Project, being implemented by Prayagraj Power Generation Company Limited (a material un-listed subsidiary of Jaiprakash Power Ventures Limited (JPVL) a subsidiary of the company), has successfully commenced commercial operations on September 10, 2016.

Housing Development and Infrastructures consolidated net profit fell 30% to Rs 40.89 crore on 2.7% decline in total income to Rs 265.21 crore in Q1 June 2016 over Q1 June 2015. The result was announced on Saturday, 10 September 2016.

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Yes Bank in focus after defering proposed QIP
Sep 09,2016

Yes Bank announced after market hours yesterday, 8 September 2016 that due to extreme volatility during trading day on 8 September 2016 because of misinterpretation of new qualified institutional placement (QIP) guidelines, the bank has been advised by its appointed Merchant Bankers to defer its proposed QIP. It may be recalled that the bank had announced on 7 September 2016 opening of QIP of equity shares of face value Rs 10 each to raise up to $1 billion. The bank announced Rs 1,371.84 per share as the floor price at that time.

ICICI Bank after market hours yesterday, 8 September 2016 said that the proposed initial public offer (IPO) of its subsidiary, ICICI Prudential Life Insurance Company (ICICI Pru Life) has been approved by Registrar of Companies, Maharashtra on 8 September 2016. The offer will be open for subscription to public on 19 September 2016 and shall close on 21 September 2016. The price band has been fixed at Rs 300-334 per equity share.

Jindal Steel & Power reported consolidated net loss of Rs 1082.15 crore in Q1 June 2016 compared with consolidated net loss of Rs 542.42 crore in Q1 June 2015. Total income rose 4.34% to Rs 4686.60 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 8 September 2016. Higher revenues in Jindal Power (JPL) & Oman helped consolidated turnover rise 6% to Rs 4655 crore in Q1 June 2016 over Q1 June 2015.

Zensar Technologies announced that it has secured multi-million dollar digital transformation project from Avis Fleet in South Africa. The announcement was made after market hours yesterday, 8 September 2016. Spread over a time-period of two years, the project involves adding scalability and agility to the companys strategic technology roadmap. Zensar will enable realization of Avis Fleets strategic project, Next Generation Fleet Management System. Zensar will leverage its digital technology skills and expertise to enable Avis Fleet in improving overall customer experience and visible enhancement in the quality of service. The key business objective is to secure and grow Avis market leadership position in this field across Africa. The overall implementation, to be divided into two phases will focus on enhancing the varied legacy technology platforms and integration of digital technologies like Agile and DevOps in building a strategic IT framework.

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GAIL (India), ONGC in spotlight after announcing Q1 results
Sep 08,2016

GAIL (India)s net profit jumped 244.03% to Rs 1335.18 crore on 9.98% decline in total income to Rs 11457.20 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 7 September 2016.

Meanwhile, shares of GAIL (India) turn ex-dividend today, 8 September 2016, for final dividend of Rs 3 per share for the year ended 31 March 2016 (FY 2016).

ONGCs net profit dropped 21.15% to Rs 4232.54 crore on 20.23% decline in total income to Rs 18737.18 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 7 September 2016.

HDFC announced that it intends to raise Rs 1000 crore from issue of non-convertible debentures on private placement basis. The debentures will carry a coupon rate of 7.7% per annum and will have a tenor of 1 year 5 months. The issue opens and closes for subscription on the same day tomorrow, 9 September 2016. The announcement was made after market hours yesterday, 7 September 2016.

Wipro issued a press release after market hours yesterday, 7 September 2016 regarding updates on the companys engagement with Employees State Insurance Corporation (ESIC). In March 2009, Wipro had entered into a seven-year agreement with ESIC as a systems integrator for Project Panchdeep to set up a healthcare administration program under the build, own, operate and transfer model. Wipro said it had completed its obligations under the contract. However, ESIC has withheld certain amounts due to the company in an ad-hoc and arbitrary manner, which has resulted in a significant delay in collections for the company, Wipro said. The company has disputed this non-payment and is engaged with ESIC to recover the amounts due. If the company is not able to resolve this amicably in a reasonable time, it will take all necessary legal steps available to it, Wipro said. The agreement with ESIC expired on 8 June 2016 post which Wipro had no obligation to provide any services to ESIC, the company said. In spite of ESICs failure to make timely payments, Wipro at the request of ESIC and given the critical nature of the services for the citizens, agreed to provide support services for an additional period of three months, it said. As contractually agreed, Wipro will handover this project close of business hours on 8 September 2016, the company said.

Ashok Leyland after market hours yesterday, 7 September 2016, announced a restructuring agreement with Nissan Motor Co. that will enable both companies to enter into a new phase in their business interaction. Nissan has agreed to sell to Ashok Leyland all of Nissans shares in three joint venture (JV) companies that were formed in 2008. These JVs focus on technology development, and manufacturing of powertrains and vehicles. Under the agreement, these JVs will become wholly-owned Ashok Leyland subsidiaries, upon receipt of all necessary approvals from the regulatory authorities in India. The process is expected to be concluded later this year, Ashok Leyland said. Ashok Leylands Managing Director Vinod Dasari said that the company has decided to acquire Nissans stake in the three JV companies, and this will help Ashok Leylands efforts to concentrate on its core business initiatives and its customers. Ashok Leyland will continue its relationship with Nissan under the new arrangement, Dasari added.

Solar Industries Indias consolidated net profit rose 13.13% to Rs 47.11 crore on 10.8% rise in net total income from operations to Rs 461.45 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 7 September 2016.

Orient Paper & Industries announced that a meeting of the board of directors of the company will be held on 15 September 2016, to consider raising capital by way of rights issue of shares.The board will also consider various options for business restructuring of the company. The announcement was made after market hours yesterday, 7 September 2016.

Motherson Sumi Systems said that MSSL Manufacturing Hungary Kft., a subsidiary of MSSL GmbH, which in turn is a subsidiary of Motherson Sumi Systems is acquiring the Automotive Business Unit of Abraham es Tarsa Kft. (Abraham and Co. Ltd) located in Turkeve, Hungary on a going concern basis and would also give on lease part of acquired assets to SMR Hungary. With this transaction, which is expected to be completed in October 2016, MSSL through its 100% subsidiary, MSSL Manufacturing Hungary Kft., would acquire the land, building and machinery of Abraham es Tarsa Kft for a purchase price consideration of EUR 10.4 million.

Abraham es Tarsa is an expert for plastic processing and high quality products for car makers across Europe. SMR Hungary, a subsidiary of SMRP BV, holding 98.5% in SMR Hungary, which is ultimately held by MSSL, has for many years been the primary customer of Abraham es Tarsa Kft.

The integration of this business would allow to generate a number of operational synergies with SMR. This acquisition will increase the in house capability of SMR Hungary, and therefore will support SMRs position as technology and market leader for automotive mirrors in Hungary and Europe. The acquired unit will be further expanded to achieve group synergies through supplies to SMR and to the new facilities being set up by SMP in Europe to meet the demand for new orders from customers. The announcement was made after market hours yesterday, 7 September 2016.

NTPC turns ex-dividend today, 8 September 2016, for final dividend of Rs 1.75 per share for the year ended 31 March 2016 (FY 2016).

NHPC turns ex-dividend today, 8 September 2016, for final dividend of Rs 0.58 per share for FY 2016.

NBCC turns ex-dividend today, 8 September 2016, for dividend of Rs 2 per share for FY 2016.

Escorts turns ex-dividend today, 8 September 2016, for dividend of Rs 1.20 per share for FY 2016.

Cyient turns ex-dividend today, 8 September 2016, for special dividend of Rs 2.50 per share for FY 2016.

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Tata Motors in focus after securing orders for supply of over 5,000 buses
Sep 07,2016

Tata Motors in a press release issued after market hours yesterday, 6 September 2016 said it has received orders for supply of over 5,000 buses from 25 state/city transport undertakings across the country. This represents a healthy growth of over 80% plus compared to last year in the order book position of the company, Tata Motors said. Ravi Pisharody, Executive Director, Commercial Vehicle Business Unit, Tata Motors said that the company plans to execute these orders in the current financial year (FY 2017). The orders will definitely enable the company to further strengthen its leadership position in the commercial vehicles (CV) passenger space, Pisharody added.

Oil Indias net profit fell 33.47% to Rs 494.41 crore on 22.22% decline in total income to Rs 2460.85 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 6 September 2016.

Lupin announced at the fag end of market hours yesterday, 6 September 2016 that it has received tentative approval for its Silodosin Capsules, 4 mg and 8 mg from the United States Food and Drug Administration (USFDA) to market a generic version of Allergan Sales, LLCs Rapaflo Capsules, 4 mg and 8 mg. The drug is indicated for the treatment of the signs and symptoms of benign prostatic hyperplasia. Rapaflo had US annual sales of $228.7 million as per IMS MAT June 2016 data.

TCS announced that it has unveiled new unemployment insurance system for the State of Mississippi. The announcement was made after market hours yesterday, 6 September 2016. TCS announced that the Mississippi, Rhode Island and Maine (MRM) Consortium has gone live with the TCS developed Unemployment Insurance (UI) Application for Benefits. Mississippi began implementation of the UI solution prior to the formation of the consortium, while the states of Maine and Rhode Island plan to adopt the solution in the near future. Mississippis Unemployment Insurance program helps unemployed individuals throughout the state by providing monetary benefits to those who have involuntarily lost their jobs, while they look for new employment opportunities.

TCS has been helping several US states to modernize their systems that support unemployment insurance programs. TCS developed solution is a robust and highly scalable platform with the ability to easily control multiple functional requirements, such as support for online claims processing, adjudication, appeals and extensive tracking of all claims and payments.

Syngene International announced the establishment of an integrated, multi-disciplinary drug discovery and development center for Amgen, Inc in Bangalore, India. This center, named Syngene Amgen Research and Development Center (SARC), will be Syngenes fourth such exclusive R&D center. Syngene already operates dedicated R&D centers for Bristol-Myers Squibb, Abbott Nutrition and Baxter Inc. The state-of-the-art dedicated center will be staffed by a team of more than 100 highly qualified Syngene scientists, working in close association with Amgen researchers around the world on the discovery and development of innovative medicines.

In addition to being customized to meet Amgens functional requirements, the facility complies with the highest regulatory standards. Its design includes a range of environmentally-friendly features and flexible layouts, and is configured to minimize solvent and effluent waste with a strong emphasis on laboratory safety and n++greenn++ chemistry. Syngene has partnered with Amgen in a variety of discovery and development projects. With the establishment of SARC, this association now extends into a multi-discipline collaboration spanning capabilities in medicinal and process chemistry, biologics, bioprocess, drug metabolism, pharmacokinetics, bioanalytical research, and pharmaceutical development. The announcement was made after market hours yesterday, 6 September 2016.

Tata Power Company turns ex-dividend today, 7 September 2016, for dividend of Rs 1.30 per share for the year ended 31 March 2016 (FY 2016).

MOIL turns ex-dividend today, 7 September 2016, for final dividend of Rs 2 per share for FY 2016.

Grasim Industries turns ex-dividend today, 7 September 2016, for dividend of Rs 22.50 per share for FY 2016.

Engineers India turns ex-dividend today, 7 September 2016, for final dividend of Rs 2 per share for FY 2016.

BEML turns ex-dividend today, 7 September 2016, for dividend of Rs 4 per share for FY 2016.

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Infosys in spotlight after securing IT contract in Saudi Arabia
Sep 06,2016

Infosys announced that it has entered into a joint venture (JV) agreement with Saudi Prerogative Company (SPC) in the Kingdom of Saudi Arabia to conduct IT services for customers located in the Kingdom of Saudi Arabia. Infosys holds 70% while the rest 30% will he held by SPC in this JV. Infosys 70% in this JV is at a cash investment of $312,671 (SAR 1,172,501) by the company in the equity share capital of the proposed JV company. The agreement is subject to the approval of Saudi Arabian General Investment Authority (SAGIA). The announcement was made after market hours on Friday, 2 September 2016.

Sun Pharmaceutical Industries (Sun Pharma) announced the initiation of a phased transfer of manufacturing & marketing rights in Japan for the 14 long-listed/established prescription brands acquired from Novartis. These 14 prescription brands acquired by the company earlier this year will be transferred from Novartis Pharma K.K. to Sun Pharmas subsidiary in Japan beginning October 2016. Sun Pharma has also signed a strategic distribution alliance with Mitsubishi Tanabe Pharma Corporation for these 14 prescription brands. Under this alliance, following the transfer of manufacturing & marketing rights to Sun Pharmas subsidiary in Japan, Mitsubishi Tanabe Pharma Corporation will market and distribute all the 14 brands as well as provide information on their proper use to healthcare professionals. The announcement was made before market hours today, 6 September 2016.

Isao Muramatsu, President & Representative Director, Sun Pharma Japan said that through this alliance the company has the opportunity to leverage Mitsubishi Tanabe Pharma Corporations specialized expertise to create a strong business foundation for Sun Pharma in Japan. Sun Pharma will focus on expanding its sales channels in Japans pharmaceutical market while continuing to ensure a stable supply of medicines and healthcare information, Muramatsu said.

Dr Reddys Laboratories (DRL) after market hours on Friday, 2 September 2016 announced that it has launched Bupropion HCI extended-release tablets, USP (SR) in 100mg, 150mg and 200mg, a therapeutic equivalent generic version of Wellbutrin SR (bupropion HCI) sustained-release tablets in the United States market approved by the US Food and Drug Administration (USFDA). The Wellbutrin SR brand and generic had US sales of about $109.6 million for the recent twelve months ended July 2016 according to IMS Health data. DRLs Bupropion SR tablets are available in 100mg, 150mg and 200mg, in bottle count sizes of 60, 100 and 500.

Reliance Industries (RIL) after market hours on Friday, 2 September 2016, announced that the companys telecom arm Reliance Jio Infocomm (Jio) has intimated the Department of Telecommunications (DOT), Telecom Regulatory Authority of India (TRAI) and the security agencies regarding the commencement of its wireless telecommunication services in all 22 service areas from 5 September 2016. The company has also filed the tariff plans for wireless services with TRAI. With these steps, the company has fulfilled all the requirements of Unified License for commencement of services, RIL said in a statement. It may be recalled that Jio had earlier announced its tariff plans under the n++Jio Welcome Offern++.

HDFC announced that it has closed the third issue of rupee denominated bonds to overseas investors, aggregating up to Rs 1000 crore. The yield to investor from the bonds is 7.5% per annum payable semi-annually. Maturity date for these bonds is 9 January 2020. The announcement was made after market hours on Friday, 2 September 2016.

Maruti Suzuki India (Maruti) announced that its total production rose 3.25% to 1.27 lakh units in August 2016 over August 2015. The announcement was made yesterday, 5 September 2016. The market was closed on that day on account of Ganesh Chaturthi.

Hindalco Industries turns ex-dividend today, 6 September 2016, for final dividend of Rs 1 per share for the year ended 31 March 2016.

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Lupin in spotlight after USFDA approval for antibiotic
Sep 02,2016

Lupin announced that its US subsidiary Gavis Pharmaceuticals LLC, USA has received tentative approval from the United States Food and Drug Administration (USFDA) to market a generic version of Pfizer Inc.s Zithromax for oral suspension, 100mg/5ml and 200mg/5ml. The drug is a macrolide antibacterial drug indicated for mild to moderate infections caused by designated, susceptible bacteria. Zithromax oral suspension had annual US sales of $110.6 million as per IMS MAT June 2016 data. The announcement was made at the fag end of trading session yesterday, 1 September 2016.

Bharti Airtel said that the High Court Division of the Supreme Court of Bangladesh (High Court) approved the merger of Airtel Bangladesh into Robi Axiata owing to certain conditions. The proposed merger is also subject to fulfilment of other conditions stipulated in the agreement and is expected to be completed in the fourth quarter of 2016, Bharti Airtel said. The announcement was made after market hours yesterday, 1 September 2016. It may be recalled that Bharti Airtel had in January this year announced signing a definitive agreement with Axiata Group Berhad (Axiata) to merge their respective telecommunications subsidiaries in Bangladesh namely Robi Axiata and Airtel Bangladesh.

Hero MotoCorp reported a 28% growth in its total two-wheeler sales at 6.16 lakh units in August 2016 over August 2015. The company said it will launch 15 new products across segments in its domestic and global markets this financial year (FY 2017) out of which three motorcycles will be introduced in the domestic market before the festive season. These includes the new Achiever 150cc motorcycle and the Super Splendor and Passion PRO with the Hero patented i3S technology, the company said in a statement. The announcement was made after market hours yesterday, 1 September 2016.

SML Isuzus total sales rose 12.7% to 1,082 units in August 2016 over August 2015. The company announced the monthly sales volume data after market hours yesterday, 1 September 2016.

Container Corporation of India turns ex-dividend today, 2 September 2016, for final dividend of Rs 5.50 per share for the year ended 31 March 2016.

Indian Oil Corporation turns ex-dividend today, 2 September 2016, for final dividend of Rs 8.50 per share for the year ended 31 March 2016.

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Tata Power in focus after pact to co-develop Javelin missile system
Sep 01,2016

Tata Power Company after market hours yesterday, 31 August 2016, announced that the company operating through its Strategic Engineering Division (SED), has signed a letter of intent (LOI) with Javelin Joint Venture team, a partnership between Raytheon and Lockheed Martin, to explore co-development and production of the Javelin anti-armour missile system. As part of the LOI, the Javelin Joint Venture (JVV) and Tata Power Company SED will create a strategy to co-develop and produce Javelin missile system and integrate platform mounts to meet Indian requirements. This includes ground combat vehicles, dismounted infantry and rotorcraft applications, Tata Power Company said.

Punjab National Bank (PNB) after market hours yesterday, 31 August 2016, announced that lending rates based on marginal cost of funds to be effective from today, 1 September 2016. The banks Marginal Cost of Funds based Lending Rate (MCLR) for overnight loans will be 9.10%, for one month will be 9.15% and for three months will be 9.25%. The MCLR on 6-month loans will be 9.30% and for one-year loans the rate would be 9.35%, the bank said. MCLR for three-year loans would be at 9.50% and loans with five-year maturity would carry an MCLR of 9.65%, the bank said.

Oriental Bank of Commerce after market hours yesterday, 31 August 2016, announced that it intends to raise Tier 1 capital through private placement of Basel III compliant additional tier 1 bonds of Rs 10 lakh each at par aggregating to Rs 250 crore with an option to retain oversubscription of upto Rs 750 crore. The proposed bonds issue has been rated as A+ with Stable Outlook by India Ratings and A+ (Hyb.) with negative outlook by ICRA.

Thermax after market hours yesterday, 31 August 2016, announced that it has invested Rs 6 crores in First Energy (FE). Further the company has increased its shareholding in FE from 33% to 54.67% making it a subsidiary of the company. FE is an alternative energy solutions company in which Thermax had acquired 33% stake in July 2015.

HCC after market hours yesterday, 31 August 2016, announced that the Cabinet decision that requires Government agencies to pay 75% of arbitral awards will result in HCCs debt being reduced by half. HCC has arbitration awards for over Rs 3,200 crore and with the todays cabinet decision, the company will get 75 per cent of this amount immediately. Similarly, claims worth around Rs 5,000 crore are in arbitration process. Todays cabinet decision will further help HCC to secure these awards within a duration of 12 months.

HCCs Chairman and Managing Director said that the company is pleased with the Cabinets decision on payment of arbitration awards to infrastructure companies. HCC will immediately be able to reduce its debt by almost half as a result and within 12 to 24 months, materially reduce it even further. With this, HCC will be able to participate in countrys infrastructure development in a much bigger way.

HCC has a standalone debt of Rs 4900 crore. The Cabinet decision will help the company to substantially reduce this amount, the company added.

The Cabinet Committee on Economic Affairs (CCEA) yesterday, 31 August 2016, approved a series of initiatives to revive the construction sector. As per the new initiatives, CCEA allowed contractors to move to the new speedier arbitration process, approved release of 75% of the amount in dispute against margin free bank guarantee and provided for a conciliation board comprising of independent subject experts in order to ensure speedy disposal of pending or new cases.

C & C Constructions after market hours yesterday, 31 August 2016, announced that it has won a project worth Rs 73.61 crore from Power Grid Corporation of India. The order is for transmission line package associated with Northern Region Strengthening Scheme XXXV. Duration for completion of project is 12 months from the date of contract. With this order, the company has an order book of approximately Rs 151 crore in transmission sector.

Union Bank of India after market hours yesterday, 31 August 2016, announced that it has concluded Basel III compliant additional tier I (AT1) bonds of face value Rs 10 lakh each at par aggregating to Rs 1,000 crore on private placement basis bearing 9.50% per annum coupon payable annually. The AT1 Bonds are rated IND AA/ Stable by India Ratings and Research Private Limited (India Ratings) and CARE AA by Credit Analysis & Research (CARE). The bonds are issued with call option, which shall be discretionary, may or may not be exercised on the tenth anniversary from the deemed date of allotment i.e. the tenth coupon payment date or any coupon payment date thereafter. The pay-in date is scheduled on 15 September 2016.

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TCS will be watched after collaboration with GE
Aug 31,2016

TCS announced that it has developed an innovative digital solution to connect Intelligent LEDs, to GEs Predix operating system for the industrial Internet through Intel Atom-based gateways, providing critical analytics to save significant time and costs in the manufacturing process. The announcement was made after market hours yesterday, 30 August 2016.

RBL Bank debuts on the secondary equity market today, 31 August 2016. The bank had priced the initial public offer (IPO) at the top end of the Rs 224 to Rs 225 per share price band for the IPO. The initial public offer (IPO) of private sector bank RBL Bank, erstwhile Ratnakar Bank, ended with overwhelming response on 23 August 2016. The IPO received bids for 263.87 crore shares. The IPO was subscribed 69.62 times.

Housing Development Finance Corporation (HDFC) said it is aiming to raise Rs 500 crore by issuing Rupee denominated bonds to overseas investors. The issue will open today, 31 August 2016 and will close tomorrow, 1 September 2016. The bonds will be listed on the London Stock Exchange (LSE). The announcement was made after market hours yesterday, 30 August 2016.

UltraTech Cement will be watched. The Reserve Bank of India (RBI) notified yesterday, 30 August 2016, that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 30% of the paid up capital of Ultra Tech Cement under the Portfolio Investment Scheme (PIS). The purchases could be made through primary market and stock exchanges. RBI stated that the company 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.

Cox & Kings consolidated net profit fell 23.67% to Rs 108.07 crore on 3.46% decline in total income to Rs 2076.56 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 30 August 2016.

Indraprastha Medical Corporations net profit rose 18.86% to Rs 8.38 crore on 3.42% growth in net total income from operations to Rs 194.01 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 30 August 2016.

Maruti Suzuki India turns ex-dividend today, 31 August 2016, for final dividend of Rs 35 per share for the year ended 31 March 2016.

ONGC turns ex-dividend today, 31 August 2016, for final dividend of Rs 3.25 per share for the year ended 31 March 2016.

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Wipro in spotlight after collaboration with Stibo for enterprise data management offering
Aug 30,2016

Wipro after market hours yesterday, 29 August 2016, announced a partnership with Stibo Systems, a global leader in multi-domain Master Data Management (MDM) solutions. As part of the partnership, the two companies will collaborate to offer MDM solutions. This partnership is aimed at building trust-worthy data foundations to help joint customers derive accurate insights as they embrace digital transformation, Wipro and Stibo Systems said in a joint press release.

Coal India after market hours yesterday, 29 August 2016, announced that it has fixed 9 September 2016 as the record date for the purpose of buyback of equity shares. The companys board on 11 July 2016, approved buyback of shares at a price of Rs 335 per share for an aggregate consideration not exceeding Rs 3650 crore through the tender offer route. The companys promoters would participate in the buyback.

Zee Entertainment Enterprises (Zee) in its clarification with regard to news item titled Sony likely to buy Ten Sports from Zee Entertainment for about Rs 2000 crore said that the company is at an advanced stage of discussion for sale of the sports business with potential buyers. However, owing to confidentiality provisions, the company is unable to comment on specific details or timelines, Zee said. Appropriate disclosures will be made as and when any reporting event arises, the company added. The company issued the clarification after market hours yesterday, 29 August 2016.

Mahindra & Mahindra (M&M) after market hours yesterday, 29 August 2016, announced the incorporation of a subsidiary company viz. Bristlecone Middle East DMCC, for providing business consulting, software implementation and related support services.

eClerx Services board of directors at its meeting held yesterday, 29 August 2016, approved a proposal for buyback of equity shares of the company for an aggregate amount not exceeding Rs 234 crore at a price not exceeding Rs 2,200 per share. At maximum buyback price, the buyback translates into approximately 10.68 lakh equity shares of the company, representing about 2.62% of the total paid up equity share capital of the company as on 31 March 2016. The promoters and promoter group of the company intend to participate in the proposed buyback. The announcement was made after market hours yesterday, 29 August 2016.

Oracle Financial Services Software turns ex-dividend today, 30 August 2016, for dividend of Rs 100 per share for the year ended 31 March 2016.

Chennai Petroleum Corporation turns ex-dividend today, 30 August 2016, for dividend of Rs 4 per share for the year ended 31 March 2016.

HSIL turns ex-dividend today, 30 August 2016, for dividend of Rs 4 per share for the year ended 31 March 2016.

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GMR Infra in focus after winning contract for Goas greenfield airport project
Aug 29,2016

GMR Infrastructure said that its subsidiary, GMR Airports (GAL), has won the international competitive bid for development and operation of Mopa Greenfield Airport in North Goa. The concession period for the Greenfield project will be 40 years with a possible extension of another 20 years through a bid process. The airport will be built under the BOT (Build Operate Transfer) model. GMR won the bid through a closely contested competitive bid process with Airports Authority emerging as the second highest bidder followed by the consortium of Essel InfraIncheon emerging third. The letter of award is expected to be issued within 60 days, while signing of concession agreement will be done within 45 days from the date of issuance of award letter. The regulatory regime for the concession will be hybrid till with 30% cross subsidy. The concession offers 232 acres of land for commercial city side development for a period of 60 years. The announcement was made after trading hours on Friday, 26 August 2016.

Indian Oil Corporation (IOC) will consider bonus issue of shares and its Q1 June 2016 results today, 29 August 2016.

Bharat Forge said it acquired 64,000 shares of its wholly-owned step down UK subsidiary - Bharat Forge International (BFIL), from Bharat Forge Global Holding GMBH, for $4,544,000 (around Rs 30 crore). This was part of restructuring of overseas subsidiaries, the company said.

Net profit of Procter & Gamble Hygiene and Health Care rose 2.16% to Rs 109.40 crore on 0.71% increase in total income to Rs 580.45 crore in Q4 June 2016 over Q4 June 2015. The result was announced after trading hours on Friday, 26 August 2016.

Castrol India will be watched. We reference to a news report captioned, n++Castrol to sell $261 million shares via block Traden++, the company clarified after trading hours on Friday, 26 August 2016, that it was not aware of any stake sale in the company by Castrol, a unit of oil major BP Plc, and said recent news reports that such a transaction would take place were based on market speculation.

Indusind Bank said it opened its first branch in Pathankot, Punjab. With this, the bank now has 81 branches in Punjab. The announcement was made after trading hours on Friday, 26 August 2016.

Bharat Financial Inclusion said it issued commercial papers of an aggregate amount of Rs 25 crore on 26 August 2016, which have been rated A1 + by a leading rating agency. Instruments with the aforesaid rating are considered to have a very strong degree of safety regarding timely payment of financial obligations. Such instruments carry the lowest credit risk. The aggregate amount of commercial paper outstanding as on date is Rs 300 crore. The announcement was made after trading hours on Friday, 26 August 2016.

Claris Lifesciences has received approval from the US health regulator for generic Flumazenil injection used for reversal of the sedative effects of benzodiazepines in the US market. The announcement was made on Saturday, 27 August 2016.

In a separate announcement after market hours on Friday, 26 August 2016, Claris Lifesciences updated that its wholly-owned subsidiary, Claris Injectables, (CIL) had undergone an US Food and Drug Administration (USFDA) inspection, classified as Prior Approval Inspection (PAI) from 16 August 2016 to 26 August 2016, on the Plant 1 (Clarion 1) of its manufacturing facility situated at Charcharvadi, Vasna. CIL has received five 483s during the inspection, it is confident to reply to these within 15 business days, with corrective and preventive actions to address the same. PAI inspections are part of a normal course of business to approve the under approval Abbreviated New Drug Application (ANDA), the company has 24 ANDAs under approval with a total addressable market size of the under approval products estimated to be around $2 billion.

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