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Polar Consulting drops after weak Q1 results
Aug 08,2017

The result was announced after market hours yesterday, 7 August 2017.

Meanwhile, the S&P BSE Sensex was down 94.33 points or 0.29% at 32,179.34. The S&P BSE Small-Cap index declined 83.14 points or 0.52% at 16,026.07.

On the BSE, 4,944 shares were traded on the counter so far as against the average daily volumes of 40,618 shares in the past one quarter. The stock had hit a high of Rs 238 and a low of Rs 228.80 so far during the day. The stock had hit a 52-week high of Rs 261 on 23 June 2017 and a 52-week low of Rs 141.10 on 9 November 2016.

The stock had underperformed the market over the past one month till 7 August 2017, sliding 1.6% compared with the Sensexs 2.91% rise. The stock had, however, outperformed the market over the past one quarter, gaining 15.84% as against the Sensexs 8.09% rise. The scrip had also outperformed the market over the past one year, advancing 25.68% as against the Sensexs 14.94% rise.

The small-cap company has equity capital of Rs 51.11 crore. Face value per share is Rs 5.

Polar Consulting & Services revenue declined on the backdrop of currency appreciation. Profit declined due to lower operating profit and unfavorable currency movements. Profit was impacted due to proactive hiring and account level investments made for supporting future growth.

Polaris Consulting & Services is a leader in solutions and services that enable operational productivity for the global financial services industry.

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Merck declines after weak Q2 numbers
Aug 08,2017

The result was announced after market hours yesterday, 7 August 2017.

Meanwhile, the S&P BSE Sensex was down 63.28 points, or 0.2% at 32,210.39. The S&P BSE Small-Cap index was down 51.79 points, or 0.32% at 16,057.42.

On the BSE, 1,103 shares were traded on the counter so far as against the average daily volumes of 4,758 shares in the past one quarter. The stock had hit a high of Rs 1,252.90 and a low of Rs 1,201.70 so far during the day. The stock had hit a record high of Rs 1,320 on 27 July 2017 and a 52-week low of Rs 681 on 30 September 2016.

The stock had outperformed the market over the past one month till 7 Aug 2017, advancing 16.29% compared with the Sensexs 2.91% rise. The scrip had also outperformed the market over the past one quarter advancing 15.53% as against the Sensexs 8.09% rise. The scrip had also outperformed the market over the past one year advancing 79.06% as against the Sensexs 14.94% rise.

The small-cap company has equity capital of Rs 16.60 crore. Face value per share is Rs 10.

Merck is engaged in manufacturing and marketing of pharmaceuticals, bulk drugs, fine chemicals and pigments. The company operates through two segments: pharmaceuticals and chemicals.

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Talbros Automotive Components completes partial disinvestment of non core assets
Aug 08,2017

Talbros Automotive Components has successfully completed the partial disinvestment of its non-core materials business assets by sale to the Indian affiliate of Interface Performance Materials, USA who are pioneers and leaders of gasket materials worldwide.

The Company has also entered into a raw material sourcing agreement with them to source various gasket raw materials from Interfaces Indian manufacturing unit. The local raw material sourcing will commence in Q4 2018.

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Idea Cellular provides update on Merger with Vodafone India
Aug 08,2017

Idea Cellular announced that following receipt of the approvals from Competition Commission of India on 24 July 2017 and the Stock Exchanges / SEBI on 04 August 2017 and in accordance with the terms thereof, the Company on 07 August 2017 filed an application before the National Company Law Tribunal, Ahmedabad Bench, for approval of the merger of Vodafone India and Vodafone Mobile Services with the Company.

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Tata Steel hits 52-week high after turnaround in Q1
Aug 08,2017

The result was announced after market hours yesterday, 7 August 2017.

Meanwhile, the S&P BSE Sensex was up 65.91 points or 0.2% at 32,339.58.

On the BSE, 1.05 lakh shares were traded on the counter so far as against the average daily volumes of 7.67 lakh shares in the past one quarter. The stock had hit a high of Rs 616.50 so far during the day, which is a 52-week high. The stock hit a low of Rs 605.50 so far during the day. The stock had hit a 52-week low of Rs 355.40 on 19 September 2016.

The stock had outperformed the market over the past one month till 7 August 2017, advancing 8.34% compared with the Sensexs 2.91% rise. The stock had also outperformed the market over the past one quarter, gaining 38.57% as against the Sensexs 8.09% rise. The scrip had also outperformed the market over the past one year, advancing 57.52% as against the Sensexs 14.94% rise.

The large-cap company has equity capital of Rs 971.22 crore. Face value per share is Rs 10.

Tata Steels consolidated net sales rose 18.9% to Rs 29386.76 crore in Q1 June 2017 over Q1 June 2016.

The companys consolidated profit after tax (PAT) from continuing operations before exceptional items surged 311.14% to Rs 1550 crore in Q1 June 2017 over Q1 June 2016. Exceptional items during the quarter (Q1 June 2017) were Rs 617 crore mainly relating to provision for mining related litigation.

Koushik Chatterjee, Group Executive Director (Finance and Corporate), said that Tata Steel Europe strategic portfolio restructuring of focusing on strip business is now completed with the sale of 42-inch and 84-inch pipe mills in Hartlepool, UK to Liberty House Group. Tata Steel is in advanced discussions with the BSPS Trustee, the Pension Regulator and the Pension Protection Fund in relation to RAA, and is hopeful of reaching final agreement shortly, Chatterjee said.

Tata Steel is the worlds second-most geographically-diversified steel producer, with operations in 26 countries and commercial presence in over 50 countries.

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Wipro and Excelfore form global partnership
Aug 08,2017

Wipro and Excelfore, a leading provider of middleware solutions for Smart Mobility Networks, announced a global partnership to offer secure connectivity solutions for next generation smart and autonomous vehicles. This partnership combines Excelfores Smart Mobility Network Solutions with Wipros global systems integration and managed services expertise to enable connected car solutions for automotive original equipment manufacturers and Tier 1 equipment makers.

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Shares of Sintex Plastics Technology get listed
Aug 08,2017

The equity shares of Sintex Plastics Technology (Scrip Code: 540653) are listed effective 08 August 2017 and admitted to dealings on the Exchange in the list of T Group Securities.

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25% growth in number of Income Tax Returns filed in current fiscal Advance Tax (Personal Income Tax) collections up by 41%
Aug 08,2017

As a result of demonetization and Operation Clean Money, there is a substantial increase in the number of Income Tax Returns(ITRs) filed. The number of Returns filed as on 05.08.2017 stands at 2,82,92,955 as against 2,26,97,843 filed during the corresponding period of F.Y. 2016-2017, registering an increase of 24.7% compared to growth rate of 9.9% in the previous year. The growth in returns filed by Individuals is 25.3% with 2,79,39,083 returns having been received upto 05.08.2017 as against 2,22,92,864 returns in the corresponding period of F.Y. 2016-2017. This clearly shows that substantial number of new tax payers have been brought into the tax net subsequent to demonetization.

The effect of demonetization is also clearly visible in the growth in Direct Tax Collections. Advance Tax collections of Personal Income Tax (i.e. other than Corporate Tax) as on 05.08.2017 showed a growth of about 41.79% over the corresponding period in F.Y. 2016-2017. Personal Income Tax under Self Assessment Tax (SAT) grew at 34.25% over the corresponding period in F.Y. 2016-2017.

The above figures amply demonstrate the positive results of the Governments commitment to fight the menace of black money. CBDT is committed in its resolve to eradicate tax evasion in a non intrusive manner and widening of tax base.

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GST Council Recommends Increase in Maximum Ceiling of Cess Leviable on Motor Vehicles Falling Under Headings 8702 and 8703 to 25%
Aug 08,2017

The GST Council considered the issue of cess leviable on motor vehicles in and recommended that Central Government may move legislative amendments required for increasing the maximum ceiling of cess leviable on motor vehicles falling under headings 8702 and 8703 including SUVs, to 25% instead of present 15% . However, the decision on when to raise the actual cess leviable on the same will be taken by the GST Council in due course.

It was noted that after introduction of GST, the total tax incidence on motor vehicles [GST + Compensation Cess] has come down vis-a-vis the total tax incidence in pre-GST regime. The Schedule to the Goods and Service Tax (GST) (Compensation to State) Act 2017, specifies the maximum rate at which Goods and Service Tax Compensation Cess may be collected. In respect of motor vehicles, the maximum rate at which Goods and Service Tax Compensation Cess may be collected is 15%.

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Tata Steel in focus after announcing Q1 results
Aug 08,2017

On a consolidated basis, Tata Steel reported net profit of Rs 921.09 crore in Q1 June 2017 compared with net loss of Rs 3183.07 crore in Q1 June 2016. Net sales rose 18.9% to Rs 29386.76 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 7 August 2017.

Karur Vysya Bank announced the revision in Marginal Cost of Funds Based Lending Rates (MCLR) of the bank effective from 7 August 2017. The announcement was made after market hours yesterday, 7 August 2017.

MCLR for overnight loans will be 8.75%, the rate for one month will be 8.75% and for three months it will be 8.75%. The MCLR on 6-month loans will be 8.9% and for one-year loans the rate will be 9.1%, the bank said.

Polar Consulting Services consolidated net profit fell 8.6% to Rs 30.2 crore on 2.4% decline in net revenue to Rs 554.90 crore in Q1 June 2017 over Q4 March 2017. The announcement was made after market hours yesterday, 7 August 2017. Revenue declined on the backdrop of currency appreciation.

Profit declined due to lower operating profit and unfavorable currency movements. Profit was impacted due to proactive hiring and account level investments made for supporting future growth.

Mercks net profit fell 11.65% to Rs 20.12 crore on 4.33% decline in total income to Rs 271.07 crore in Q1 June 2017 over Q1 June 2016. The announcement was made after market hours yesterday, 7 August 2017.

Nilkamals net profit fell 29.4% to Rs 22.37 crore on 5.8% growth in net sales to Rs 487.59 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 7 August 2017.

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Polaris Consulting & Services consolidated net profit declines 24.21% in the June 2017 quarter
Aug 07,2017

Net profit of Polaris Consulting & Services declined 24.21% to Rs 30.21 crore in the quarter ended June 2017 as against Rs 39.86 crore during the previous quarter ended June 2016. Sales rose 11.44% to Rs 554.95 crore in the quarter ended June 2017 as against Rs 497.98 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales554.95497.98 11 OPM %8.2712.53 - PBDT49.1866.33 -26 PBT43.6560.44 -28 NP30.2139.86 -24

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Bombay Wire Ropes reports standalone net loss of Rs 0.01 crore in the June 2017 quarter
Aug 07,2017

Net Loss of Bombay Wire Ropes reported to Rs 0.01 crore in the quarter ended June 2017 as against net loss of Rs 0.02 crore during the previous quarter ended June 2016. There were no Sales reported in the quarter ended June 2017 and during the previous quarter ended June 2016.

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Tayo Rolls reports standalone net loss of Rs 3.12 crore in the June 2017 quarter
Aug 07,2017

Net Loss of Tayo Rolls reported to Rs 3.12 crore in the quarter ended June 2017 as against net loss of Rs 38.54 crore during the previous quarter ended June 2016. Sales declined 98.48% to Rs 0.26 crore in the quarter ended June 2017 as against Rs 17.10 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales0.2617.10 -98 OPM %-2038.46-27.72 - PBDT-9.08-8.21 -11 PBT-9.17-9.84 7 NP-3.12-38.54 92

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Goodricke Group standalone net profit rises 54.55% in the June 2017 quarter
Aug 07,2017

Net profit of Goodricke Group rose 54.55% to Rs 22.24 crore in the quarter ended June 2017 as against Rs 14.39 crore during the previous quarter ended June 2016. Sales rose 23.94% to Rs 152.16 crore in the quarter ended June 2017 as against Rs 122.77 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales152.16122.77 24 OPM %15.2111.40 - PBDT25.7418.00 43 PBT22.2414.39 55 NP22.2414.39 55

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Merck standalone net profit declines 11.63% in the June 2017 quarter
Aug 07,2017

Net profit of Merck declined 11.63% to Rs 20.13 crore in the quarter ended June 2017 as against Rs 22.78 crore during the previous quarter ended June 2016. Sales declined 3.69% to Rs 251.61 crore in the quarter ended June 2017 as against Rs 261.25 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales251.61261.25 -4 OPM %11.0113.00 - PBDT33.0940.61 -19 PBT26.6434.38 -23 NP20.1322.78 -12

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