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Apollo Tyres declines ex-dividend
Jun 27,2017

Meanwhile, the S&P BSE Sensex was up 75.42 points, or 0.24% at 31,213.63.

On the BSE, 40,000 shares were traded on the counter so far as against the average daily volumes of 4.79 lakh shares in the past one quarter. The stock had hit a high of Rs 246 and a low of Rs 241.30 so far during the day. The stock had hit a record high of Rs 266.40 on 13 June 2017 and a 52-week low of Rs 139.35 on 24 June 2016.

The stock had outperformed the market over the past one month till 23 June 2017, advancing 7.11% compared with the Sensexs 2.55% rise. The scrip had also outperformed the market over the past one quarter advancing 19.61% as against the Sensexs 6.16% rise. The scrip had also outperformed the market over the past one year advancing 65.88% as against the Sensexs 15.32% rise.

The large-cap company has equity capital of Rs 50.90 crore. Face value per share is Rs 1.

Before turning ex-dividend, the stock offered a dividend yield of 1.21% based on the closing price of Rs 247 on Friday, 23 June 2017.

Apollo Tyres consolidated net profit fell 16.1% to Rs 228.24 crore on 10.2% increase in net sales to Rs 3269.22 crore in Q4 March 2017 over Q4 March 2016.

Apollo Tyres is an international tyre major with manufacturing units in India, the Netherlands and Hungary. The company markets its products under its two global brands - Apollo and Vredestein. The companys products are available in over 100 countries through a network of branded, exclusive and multi-product outlets.

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Infibeam gains on stock-split plan
Jun 27,2017

The announcement was made on Monday, 26 June 2017, when the stock markets were closed for local holiday.

Meanwhile, the S&P BSE Sensex was up 98.39 points, or 0.32%, to 31,236.60. The S&P BSE Mid-Cap index was down 26.72 points, or 0.18%, to 14,557.09.

On the BSE, so far 3,076 shares were traded in the counter, compared with average daily volumes of 1.24 lakh shares in the past one quarter. The stock had hit a high of Rs 1,048.05 and low of Rs 1,039.45 so far during the day. The stock had hit a record high of Rs 1447.55 on 22 February 2017. The stock hit a 52-week low of Rs 431.35 on 8 April 2016.

The mid-cap company has equity capital of Rs 54.28 crore. Face value per share is Rs 10.

On a consolidated basis, net profit of Infibeam Incorporation rose 468.49% to Rs 13.53 crore on 61.22% rise in net sales to Rs 120.51 crore in Q4 March 2017 over Q4 March 2016.

Infibeam Incorporation is an e-commerce company, focused on developing successful e-commerce platforms and ecosystems.

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Wintac provides update on promoter and holding company - Gavis Pharma
Jun 27,2017

GAVIS Pharma,LLC, the Promoter and Holding company of Wintac, has changed its name as VEEGO PHARMA, LLC effective from 12 June 2017.

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LT Foods boils after announcing inauguration of rice plant
Jun 27,2017

The announcement was made on Sunday, 25 June 2017. Stock markets remained closed on Monday, 26 June 2017, for a local holiday.

Meanwhile, the S&P BSE Sensex was up 127.68 points, or 0.41%, to 31,265.89. The S&P Small-Cap index was up 42.67 points, or 0.28%, to 15,424.57.

On BSE, so far 12,000 shares were traded in the counter, compared with average daily volume of 1.53 lakh shares in the past one quarter. The stock hit a high of Rs 66.60 and a low of Rs 65.70 so far during the day. The stock hit a record high of Rs 84.70 on 23 May 2017. The stock hit a 52-week low of Rs 21.11 on 9 November 2016.

The small-cap company has equity capital of Rs 26.67 crore. Face value per share is Re 1.

LT Foods said that the company is inaugurating rice plant at Rotterdam, Netherlands in Europe with an initial processing capacity of 60,000 tonne on 28 June 2017. The company would be manufacturing a wide range of rice including popular varieties like Basmati, Thai, Jasmine and American rice from the new plant.

On consolidated basis, LT Foods net profit rose 507.75% to Rs 33.73 crore on 19.5% growth in net sales to Rs 962.15 crore in Q4 March 2017 over Q4 March 2016.

LT Foods has a diversified product portfolio of branded basmati rice, value-added staples and organic food.

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Natco Pharma receives final approval of ANDA for Azacitidine for Injection
Jun 27,2017

Natco Pharma has received final approval of Abbreviated New Drug Application (ANDA) from the U.S. Food and Drug Administration (FDA) for Azacitidine for Injection, 100mg per Vial, Single-Dose Vial, a generic version of Vidazan++ by Celgene Corporation. NATCO and its marketing partner Breckenridge Pharmaceutical, Inc. (BPI) plan to launchthis product in the USA market in the near future.

Vidazan++ is a prescription anti-cancer chemotherapy drug that is indicated to treat myelodysplastic syndrome (MDS). Vidazan++ generated total combined sales of $188 million for the twelve-month period ending April, 2017, based on industry sales data.

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Shares of Tejas Networks get listed
Jun 27,2017

The equity shares of Tejas Networks (Scrip Code: 540595) are listed effective 27 June 2017 and admitted to dealings on the Exchange in the list of B Group Securities.

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Sun Pharma partners with The National Institute of Virology, Pune
Jun 27,2017

Sun Pharma and The National Institute of Virology (NIV), Pune, an institution of the Indian Council of Medical Research, Department of Health Research, Ministry of Health and Family Welfare , New Delhi on 27 June 2017 announced that they have signed an agreement for testing phytopharmaceutical, biologic and chemical entities developed by Sun Pharma against Zika, Chikungunya and Dengue viruses. Sun Pharma will provide drug molecules to NIV for testing against Zika, Chikungunya and Dengue in model systems. Candidate molecules with encouragingdata will then be taken forward for commercial development.

Sun Pharma and NIV aim to promote discovery sciences, translational health research and development of medical products, which is in sync with the direction provided by Govt. of Indias Make In India initiative. Sun Pharmas agreement with NIV follows its MOU with Indian Council ofMedical Research (ICMR) for conducting joint scientific research and innovation for testing of drugs, biosimilars and vaccines and disease control and elimination programs.

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Glenmark Pharmaceuticals gets final approval for Indomethacin Extended-Release Capsules
Jun 27,2017

Glenmark Pharmaceuticals has been granted final approval by the United States Food & Drug Administration (U.S. FDA) for Indomethacin Extended-Release Capsules USP, 75 mg, the generic version of Indocinn++ SR Extended-Release Capsules, 75 mg of Iroko Pharmaceuticals LLC.

According to IMS Health sales data for the 12 month period ending April 2017, the Indocinn++ SR Extended-Release Capsules, 75 mg market1 achieved annual sales of approximately $6.3 million*.

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Tejas Networks in focus on debut
Jun 27,2017

Shares of Tejas Networks will debut on the bourses today, 27 June 2017. The initial public offer (IPO) of Tejas Networks received bids for 3.21 crore shares compared with 1.71 crore shares on offer, NSE data showed. The IPO was subscribed 1.88 times. The price band for the IPO was fixed at Rs 250-257 per share. The IPO opened on 14 June 2017 and closed on 16 June 2017. Bangalore-based Tejas Networks is an optical and data networking products company.

The qualified institutional buyers (QIBs) category was subscribed 2.16 times. The non institutional investors (NIIs) category was subscribed 0.48 times. The retail individual investors (RIIs) category was subscribed 3.10 times.

Infosys issued a press release regarding its settlement with New York Attorney General. The company said that its agreement concluded the State of New Yorks investigation relating to the amount of taxes the company paid in 2010-2011 without any criminal or civil charges being filed. While this investigation centered on alleged paperwork errors, the company committed no wrongdoing and denies all allegations made in this regard, Infosys said.

This settlement relates to legal issues already resolved under the 2013 settlement with the US Department of Justice, and was reached by both parties to avoid protracted litigation.

Infosys said it maintains robust policies and procedures to ensure adherence with all applicable regulations and laws. Infosys will continue to focus on boosting American innovation, hiring American workers and better serving its valued customers across the United States, it added. The announcement was made after market hours on Friday, 23 June 2017.

Cadila Healthcare said that its board approved in-principle to raise funds by issue of equity shares / convertible bonds / debentures through qualified institutional placement (QIP) / GDR / ADR, for an aggregate amount up to Rs 10000 crore. The board also approved to issue secured / unsecured redeemable non-convertible debentures / foreign currency bonds on private placement basis for an amount up to Rs 3500 crore in the financial year 2017n++2018. Further, the board also approved to issue foreign currency bond / foreign currency convertible bonds for an amount up to Rs 5000. The announcement was made on Monday, 26 June 2017. The market was shut on Monday, 26 June 2017, on account of Ramzan Id.

JSW Steel said that a meeting of board of directors of the company would be held on 29 June 2017 to consider raising additional long term resources through issuance of NCDs with warrants convertible into equity shares and/or equity shares and/or convertible warrants, by way of a Qualified Institutional Placement and issuance of FCCBs, ADRs, GDRs, warrants or convertible instruments in course of an international offering. The announcement was made after market hours on Friday, 23 June 2017.

Capital First said that the Debenture Committee constituted by the board of directors of the company at its meeting held on 23 June 2017 has approved an issue of Rated, Listed, Secured, Redeemable, Non-Convertible Debentures of Rs 25 crore plus green shoe option of Rs 25 crore on private placement basis. The announcement was made after market hours on Friday, 23 June 2017.

Infibeam Incorporation said that a meeting of the board of directors of the company will be held on 13 July 2017 to consider stock-split proposal of equity shares of the company. The announcement was made on Monday, 26 June 2017, when the stock markets were closed for local holiday.

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Bullions shine on Friday
Jun 26,2017

Bullion metals ended higher on Friday, 23 June 2017. Gold climbed for a third session in a row on Friday, but its rise on the back of declines in the U.S. dollar and recent weakness in assets perceived as risky wasnt enough to give the metals prices a boost for the week.

August gold rose $7, or 0.6%, to settle at $1,256.40 an ounce, with futures down a dime from last Fridays settlement, after posting losses in each of the past two weeks.

July silver gained 13.8 cents, or 0.8%, to $16.647 an ounce. For the week, silver lost a bit more than a penny.

A softening dollar helped to give precious metals get a lift on Friday, with the ICE U.S. Dollar Index, a measure of the greenback against a half-dozen currencies, down 0.4%. Slack in the dollar can give commodities priced in the currency a boost, making them cheaper for buyers using weaker currencies.

Although the Federal Reserve last week lifted benchmark interest rates and communicated its intention to normalize monetary policy and shrink its $4.5 trillion balance sheet, gold has climbed. Higher rates can dull the demand for gold in favor of investments that do offer a yield and vice versa.

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Outcome of board meeting of SSK Lifestyles
Jun 26,2017

The Board of SSK Lifestyles at its meeting held on 24 June 2017 has approved -

1) Alteration of Main Objects clause of the Memorandum of Association of the Company.

2) Shifting of Registered Office of the Company from the state of Telangana to the state of Andhra Pradesh.

3) Increase of authorized share capital to Rs.13 crore.

4) Issue of 30,00,000 equity shares on preferential issue basis.

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SSK Lifestyles intimates of acquisition of Genesis Biosciences IBRC
Jun 26,2017

SSK Lifestyles announced that Genesis I.B.R.C., the wholly owned subsidiary of the Company has acquired Genesis Biosciences IBRC a partnership firm engaged in manufacturing and marketing of pro-biotic products for aquaculture and fisheries.

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Basant Agro Tech (India) announces demise of director
Jun 26,2017

Basant Agro Tech (India) announced the demise of Dr. B.G Bathkal, Independent Director of the Company.

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Board of Kitex Garments allots equity 1.90 crore equity shares under bonus issue
Jun 26,2017

Kitex Garments announced that the Board of Directors of the Company at its meeting held on 24 June 2017 has allotted 1,90,00,000 Equity Shares of Re.1/- each as fully paid-up bonus shares, in the ratio of 2 Equity shares for every 5 equity shares held to the eligible members whose names appear on the register of members /list of beneficial owners as on 23 June, 2017, being the record date fixed for this purpose.

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Royal Orchid Hotels opens Regenta LP Vilas in Deharadun
Jun 26,2017

Royal Orchid Hotels announced the opening of 1 more hotel under its brand n++Regentan++ in Deharadun, Uttarakhand on 25 June 2017, expanding to 44th hotels.

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