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HDFC Bank declines as sticky loans rise in Q1
Jul 21,2016

Meanwhile, the S&P BSE Sensex was down 121.23 points or 0.43% at 27,794.66.

On BSE, so far 82,000 shares were traded in the counter as against average daily volume of 1.08 lakh shares in the past one quarter. The stock was volatile. The stock rose as much as 0.6% at the days high of Rs 1,239.50 so far during the day, which is a record high for the counter. The stock lost as much as 0.72% at the days low of Rs 1,223.15 so far during the day. The stock had hit a 52-week low of Rs 928.80 on 29 February 2016. The stock had outperformed the market over the past one month till 20 July 2016, advancing 5.09% compared with Sensexs 3.9% rise. The scrip had also outperformed the market in past one quarter, gaining 12.36% as against Sensexs 8.02% rise.

The large-cap bank has equity capital of Rs 507.01 crore. Face value per share is Rs 2.

HDFC Banks ratio of gross non-performing assets (NPAs) to gross advances stood at 1.04% as on 30 June 2016 compared with 0.94% as on 31 March 2016 and 0.95% as on 30 June 2015. The ratio of net NPAs to net advances stood at 0.32% as on 30 June 2016 as against 0.28% as on 31 March 2016 and 0.27% as on 30 June 2015.

The banks net profit rose 20.2% to Rs 3238.90 crore on 17.1% growth in total income to Rs 19322.60 crore in Q1 June 2016 over Q1 June 2015. The result was announced during market hours today, 21 July 2016.

The banks net interest income (NII) rose 21.8% to Rs 7781.40 crore in Q1 June 2016 over Q1 June 2015, driven by average assets growth of 20.2% and a net interest margin (NIM) of 4.4% in Q1 June 2016.

The banks provisions and contingencies rose 19.05% to Rs 866.70 crore in Q1 June 2016 over Q1 June 2015.

HDFC Bank announced after market hours yesterday, 20 July 2016 that S&P Global Ratings (S&P) has affirmed its BBB- long-term issue ratings on the senior unsecured bonds issued by the Bahrain branch of the bank. S&P has also removed its ratings on these bonds from CreditWatch which were earlier placed with Negative implications.

It may be recalled that in February 2016, S&P had put the bonds issued by HDFC Bank, Bahrain branch on CreditWatch with Negative implications consequent to a downgrade in the rating of Bahrain.

The latest development from S&P comes in the aftermath of HDFC Bank modifying its existing structure of the bonds. Under the revised structure, if any event materializes thereby restraining the banks ability to service the bonds from Bahrain branch, the bank will service the bonds from any branch in India or from the Hong Kong branch.

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

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HDFC Bank retracts from record high after strong Q1 earnings
Jul 21,2016

The result was announced during market hours today, 21 July 2016.

Meanwhile, the S&P BSE Sensex was down 121.23 points or 0.43% at 27,794.66.

On BSE, so far 82,000 shares were traded in the counter as against average daily volume of 1.08 lakh shares in the past one quarter. The stock was volatile. The stock rose as much as 0.6% at the days high of Rs 1,239.50 so far during the day, which is a record high for the counter. The stock lost as much as 0.72% at the days low of Rs 1,223.15 so far during the day. The stock had hit a 52-week low of Rs 928.80 on 29 February 2016. The stock had outperformed the market over the past one month till 20 July 2016, advancing 5.09% compared with Sensexs 3.9% rise. The scrip had also outperformed the market in past one quarter, gaining 12.36% as against Sensexs 8.02% rise.

The large-cap bank has equity capital of Rs 507.01 crore. Face value per share is Rs 2.

The banks net interest income (NII) rose 21.8% to Rs 7781.40 crore in Q1 June 2016 over Q1 June 2015, driven by average assets growth of 20.2% and a net interest margin (NIM) of 4.4% in Q1 June 2016.

The banks provisions and contingencies rose 19.05% to Rs 866.70 crore in Q1 June 2016 over Q1 June 2015.

HDFC Banks gross non-performing assets (NPAs) stood at Rs 4920.89 crore as on 30 June 2016 compared with Rs 4392.83 crore as on 31 March 2016 and Rs 3652.23 crore as on 30 June 2015. The ratio of gross NPAs to gross advances stood at 1.04% as on 30 June 2016 compared with 0.94% as on 31 March 2016 and 0.95% as on 30 June 2015. The ratio of net NPAs to net advances stood at 0.32% as on 30 June 2016 as against 0.28% as on 31 March 2016 and 0.27% as on 30 June 2015.

HDFC Bank announced after market hours yesterday, 20 July 2016 that S&P Global Ratings (S&P) has affirmed its BBB- long-term issue ratings on the senior unsecured bonds issued by the Bahrain branch of the bank. S&P has also removed its ratings on these bonds from CreditWatch which were earlier placed with Negative implications.

It may be recalled that in February 2016, S&P had put the bonds issued by HDFC Bank, Bahrain branch on CreditWatch with Negative implications consequent to a downgrade in the rating of Bahrain.

The latest development from S&P comes in the aftermath of HDFC Bank modifying its existing structure of the bonds. Under the revised structure, if any event materializes thereby restraining the banks ability to service the bonds from Bahrain branch, the bank will service the bonds from any branch in India or from the Hong Kong branch.

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

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Welspun Corp surges after winning order
Jul 21,2016

The announcement was made during market hours today, 21 July 2016.

Meanwhile, the BSE Sensex was down 63.35 points, or 0.29%, to 27,834.43.

The jump in price was associated with high volumes on the counter. On BSE, so far 4.45 lakh shares were traded in the counter, compared with an average volume of 1.66 lakh shares in the past one quarter. The stock hit a high of Rs 90.90 and a low of Rs 83.80 so far during the day. The stock had hit a 52-week high of Rs 153.60 on 5 August 2015. The stock had hit a 52-week low of Rs 69.30 on 5 June 2016. The stock had outperformed the market over the past one month till 20 July 2016, advancing 8.2% compared with Sensexs 3.9% rise. The scrip had, however, underperformed the market in past one quarter, dropping 19.69% as against Sensexs 8.02% rise.

The mid-cap company has an equity capital of Rs 132.61 crore. Face value per share is Rs 5.

Welspun Corp announced that the company has entered into a definitive agreement with an American midstream major to supply over 274 kilometers or 1.84 lakh metric tonnes of heavy wall, large diameter, 18 meters length, longitudinal saw line-pipe for a prestigious Gas Project in Americas.With the addition of the order, current order book of the company has crossed 9.58 lakh metric tonnes worth Rs 5500 crore.

Welspun Corps consolidated net profit fell 84% to Rs 23.05 crore on 19.2% drop in net sales to Rs 1792.78 crore in Q4 March 2016 over Q4 March 2015.

Welspun Corp is a one-stop service provider offering complete pipe solutions.

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HDFC Bank drops amid volatility after announcing Q1 results
Jul 21,2016

The result was announced during market hours today, 21 July 2016.

Meanwhile, the S&P BSE Sensex was down 87.59 points or 0.31% at 27,828.30.

On BSE, so far 72,000 shares were traded in the counter as against average daily volume of 1.08 lakh shares in the past one quarter. The stock was volatile. The stock rose as much as 0.6% at the days high of Rs 1,239.50 so far during the day, which is a record high for the counter. The stock lost as much as 0.72% at the days low of Rs 1,223.15 so far during the day. The stock had hit a 52-week low of Rs 928.80 on 29 February 2016. The stock had outperformed the market over the past one month till 20 July 2016, advancing 5.09% compared with Sensexs 3.9% rise. The scrip had also outperformed the market in past one quarter, gaining 12.36% as against Sensexs 8.02% rise.

The large-cap bank has equity capital of Rs 507.01 crore. Face value per share is Rs 2.

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

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HPCL gains after board approves 2:1 bonus issue
Jul 21,2016

The announcement was made after market hours yesterday, 20 July 2016.

Meanwhile, the S&P BSE Sensex was down 31.36 points or 0.11% at 27,884.53.

High volumes were witnessed on the counter. On BSE, so far 3.58 lakh shares were traded in the counter as against average daily volume of 1.16 lakh shares in the past one quarter. The stock hit a high of Rs 1,233.25, which was also a record high for the stock. The stock hit a low of Rs 1,152.10 so far during the day. The stock had hit a 52-week low of Rs 636 on 15 February 2016. The stock had outperformed the market over the past one month till 20 July 2016, advancing 21.67% compared with Sensexs 3.9% rise. The scrip had also outperformed the market in past one quarter, gaining 32.52 % as against Sensexs 8.02% rise.

The large-cap company has equity capital of Rs 338.63 crore. Face value per share is Rs 10.

HPCL said during market hours today, 21 July 2016 that it has fixed 15 September 2016 as the record date for the bonus issue. HPCL said that the board of directors of the company at its meeting held yesterday, 20 July 2016, also considered and recommended increase in authorised share capital to Rs 2500 crore and further recommended capitalisation of reserves.

Separately, HPCL announced after market hours yesterday, 20 July 2016 that the board of directors of the company at its meeting held yesterday, 20 July 2016, approved Visakh refinery capacity expansion from 8.33 million metric tonnes per annum (MMTPA) to 15 MMTPA with residue up-gradation facility meeting BS VI fuel specification compliance under Visakh Refinery Modernization Project (VRMP). The project involves an investment of Rs 20928 crore and is expected to be mechanically completed within 48 months from the date of approval.

HPCLs net profit drops 28.2% to Rs 1552.94 crore on 5.4% drop in net sales to Rs 42125.96 crore in Q4 March 2016 over Q4 March 2015.

HPCL is a public oil marketing company. The Government of India held 51.11% stake in HPCL as per the shareholding pattern as on 30 June 2016.

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Wipro inches up after securing contract
Jul 21,2016

The announcement was made after market hours yesterday, 20 July 2016.

Meanwhile, the S&P BSE Sensex was down 22.40 points or 0.08% at 27,893.49.

On BSE, so far 13.78 lakh shares were traded in the counter as against average daily volume of 2.36 lakh shares in the past one quarter. The stock rose as much as 1.18% at the days high of Rs 545 so far during the day. The stock rose 0.07% at the days low of Rs 539 so far during the day. The stock had hit a 52-week high of Rs 613 on 1 October 2015. The stock had hit a 52-week low of Rs 508.90 on 29 February 2016. The stock had underperformed the market over the past one month till 20 July 2016, sliding 3.29% compared with Sensexs 3.9% rise. The scrip had also underperformed the market in past one quarter, declining 10.43% as against Sensexs 8.02% rise.

The large-cap company has equity capital of Rs 494.15 crore. Face value per share is Rs 2.

Wipro announced that it has entered into a seven-year strategic IT and business transformation partnership with Greater Toronto Airports Authority (GTAA).

GTAA operates Toronto Pearson International Airport, the largest airport in Canada and the second largest in North America in terms of international traffic.

On consolidated basis, Wipros net profit fell 8.32% to Rs 2051.90 crore on 0.32% decline in net sales to Rs 13697.60 crore in Q1 June 2016 over Q4 March 2016.

Wipro is one of the leading global information technology, consulting and outsourcing companies.

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L&T Infotech falls below IPO price on debut
Jul 21,2016

Meanwhile, the S&P BSE Sensex was down 30.64 points or 0.11% at 27,885.25.

The stock debuted at Rs 666.60, a discount of 6.11% compared with the intial public offer (IPO) price. The stock hit a high of Rs 709.55 and a low of Rs 666 so far during the day. On BSE, so far 12.26 lakh shares were traded in the counter.

Larsen & Toubro Infotech (L&T Infotech) had priced its IPO at Rs 710 per share -- the top end of the Rs 705-710 per share price band for the IPO. The IPO received strong response from investors. The companys promoter and engineering & construction major L&T sold a part of its stake through the IPO of L&T Infotech.

L&T Infotech offers an extensive range of IT services to clients in diverse industries such as banking and financial services, insurance, energy and process, consumer packaged goods, retail and pharmaceuticals, media and entertainment, hi-tech and consumer electronics and automotive and aerospace.

Based on consolidated financial performance, the companys net profit rose 19.89% to Rs 922.17 crore on 17.45% growth in revenue from operations to Rs 5847.06 crore in the year ended 31 March 2016 over the year ended 31 March 2015.

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Neyveli Lignite Corporation jumps after Cabinet approval for its power project
Jul 21,2016

The announcement was made after market hours yesterday, 20 July 2016.

Meanwhile, the BSE Sensex was down 33.73 points, or 0.12%, to 27,882.16.

High volume was witnessed on the counter. On BSE, so far 1.63 lakh shares were traded in the counter, compared with an average volume of 26,923 shares in the past one quarter. The stock hit a high of Rs 80.90 and a low of Rs 77 so far during the day. The stock hit a 52-week high of Rs 94.25 on 7 August 2015. The stock hit a 52-week low of Rs 60.35 on 1 March 2016. The stock had underperformed the market over the past one month till 20 July 2016, advancing 3.29% compared with Sensexs 3.9% rise. The scrip had also underperformed the market in past one quarter, gaining 3.87% as against Sensexs 8.02% rise.

The large-cap company has an equity capital of Rs 1677.71 crore. Face value per share is Rs 10.

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi, has given its approval for installation of Ghatampur Thermal Power Project (GTPC) of 1980 megawatts (MW) (3X660 MW) capacity through a joint venture company named Neyveli Uttar Pradesh Power (NUPPL) formed jointly by Neyveli Lignite Corporation (NLC) and Uttar Pradesh Rajya Vidyut Utpadan Nigam (UPRVUNL).

The project will be implemented at an estimated cost of Rs 17237.80 crore including interest during construction component of Rs 3202.42 crore. The commissioning of Unit I, II and III of the project will be in 52 months, 58 months and 64 months respectively from starting date. The benefits of this generation will be available in the XIII Five Year Plan. The energy generated by the GTPS of about 14000 MU/annum will mainly be supplied to Uttar Pradesh.

Ministry of Coal had allotted Pachwara South coal block in Jharkhand state for meeting the coal requirement of the GTPS.

Neyveli Lignite Corporations net profit declined 34.1% to Rs 446.24 crore on 10.2% rise in net sales to Rs 1854.15 crore in Q4 March 2016 over Q4 March 2015.

Neyveli Lignite Corporation (NLC) operates lignite mines, pithead thermal power stations and also has operations in renewable energy sector. As per the shareholding pattern as on 30 June 2016, the Government of India held 90% stake in the company.

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Ambuja Cements gains after Cabinet nod to buy 24% stake in Holcim (India)
Jul 21,2016

The announcement was made after market hours yesterday, 20 July 2016.

Meanwhile, the S&P BSE Sensex was down 35.47 points or 0.13% at 27,880.42.

On BSE, so far 40,714 shares were traded in the counter as against average daily volume of 2.35 lakh shares in the past one quarter. The stock hit a high of Rs 267.40, which is also a 52-week high for the stock. The stock hit a low of Rs 263.10 so far during the day. The stock had hit a 52-week low of Rs 185 on 29 February 2016. The stock had outperformed the market over the past one month till 20 July 2016, advancing 8.64% compared with Sensexs 3.9% rise. The scrip had also outperformed the market in past one quarter, gaining 15.89% as against Sensexs 8.02% rise.

The large-cap company has equity capital of Rs 310.38 crore. Face value per share is Rs 2.

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

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

Holcim (India) holds 9.71% and Holderind Investments holds 40.57% stake in Ambuja Cements (as per the shareholding pattern as on 30 June 2016). Holcim (India) holds 50.05% and Holderind Investments holds 0.29% stake in ACC (as per the shareholding pattern as on 30 June 2016).

Swiss cement major Holcim in 2013, announced a major restructuring of its India operations. Ambuja Cements in 2013, approved a proposal, wherein Ambuja will first acquire from Holderind Investments, Mauritius (Holcim), a 24% stake in Holcim India for a cash consideration of Rs 3500 crore, followed by a merger of Holcim India into Ambuja. Based on the approved merger ratio, Ambuja will issue 58.4 crore new equity shares of the company to Holcim, as consideration for the merger. Post the merger, the expanded capital base of Ambuja (post cancellation of the shares held by Holcim India in Ambuja and the issuance of new shares as aforesaid) will increase by 28%. Holcim will then own 61.39% of Ambuja and Ambuja in turn own 50.01% of ACC.

Such a change in structure was the outcome of Lafarge SA and Holcim Group wanting to restructure their businesses in India after their global merger in 2014 to form a merged entity, LafargeHolcim. LafargeHolcim announced on 11 July 2016, that it has entered into an agreement with Nirma for the divestment of the formers interest in Lafarge India for an enterprise value of about $1.4 billion.

Ambuja Cements net profit fell 4.4% to Rs 303.76 crore on 0.3% decline in net sales to Rs 2418.30 crore in Q1 March 2016 over Q1 March 2015.

Ambuja Cements is engaged in manufacturing and marketing cement and clinker for both domestic and exports.

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VRL Logistics spurts as promoters drop airline business plan
Jul 21,2016

The announcement was made after market hours yesterday, 20 July 2016.

Meanwhile, the S&P BSE Sensex was down 9.36 points or 0.03% at 27,906.53.

On BSE, so far 4.50 lakh shares were traded in the counter as against average daily volume of 2.41 lakh shares in the past one quarter. The stock hit a high of Rs 377.50 and a low of Rs 351.95 so far during the day. The stock had hit a record high of Rs 478.70 on 1 September 2015. The stock had hit a record low of Rs 253 on 25 May 2016. The stock had underperformed the market over the past one month till 20 July 2016, advancing 3.79% compared with Sensexs 3.9% rise. The scrip had also underperformed the market in past one quarter, sliding 23.3% as against Sensexs 8.02% rise.

The small-cap company has equity capital of Rs 91.24 crore. Face value per share is Rs 10.

VRL Logistics promoters Vijay Sankeshwar and Anand Sankeshwar had earlier expressed their intention of commencing a regional airline. Subsequently, there have been several developments including the announcement of the new aviation policy by the Centre. VRL Logistics promoters said that the regional connectivity related aspects listed in the aviation policy do not augur well with their planned business model envisaged for the proposed activity. Hence, the promoters have decided to drop the plans for an entry into the civil aviation space.

VRL Logistics net profit declined 31.8% to Rs 13.21 crore on 4.5% growth in net sales to Rs 411.92 crore in Q4 March 2016 over Q4 March 2015.

VRL Logistics is one of the leading pan-India surface logistics and parcel delivery service providers.

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Gokaldas Exports declines as Blackstone offloads bulk shares
Jul 21,2016

Meanwhile, the S&P BSE Sensex was down 22.34 points or 0.08% at 27,893.55.

On BSE, so far 66,000 shares were traded in the counter as against average daily volume of 2.35 lakh shares in the past one quarter. The stock hit a high of Rs 111.70 and a low of Rs 105.40 so far during the day. The stock had hit a 52-week low of Rs 40.45 on 12 February 2016. The stock had hit a 52-week high of Rs 134.20 on 10 June 2016. The stock had underperformed the market over the past one month till 20 July 2016, advancing 0.5% compared with Sensexs 3.9% rise. The scrip had, however, outperformed the market in past one quarter, gaining 52.51% as against Sensexs 8.02% rise.

The small-cap company has equity capital of Rs 17.44 crore. Face value per share is Rs 5.

Gokaldas Exports net profit rose 17% to Rs 40.77 crore on 23.2% growth in net sales to Rs 292.52 crore in Q4 March 2016 over Q4 March 2015.

Gokaldas Exports manufactures and exports readymade garments.

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Hindustan Zinc drops after reporting weak Q1 results
Jul 21,2016

The result was announced after market hours yesterday, 20 July 2016.

Meanwhile, the BSE Sensex was up 31.50 points, or 0.11%, to 27,940.51.

On BSE, so far 32,346 shares were traded in the counter, compared with an average volume of 1.23 lakh shares in the past one quarter. The stock hit a high of Rs 192.45 and a low of Rs 187.95 so far during the day.

The large-cap company has an equity capital of Rs 845.06 crore. Face value per share is Rs 2.

Hindustan Zinc said that the decrease in revenues was on account of lower volumes, primarily zinc, and lower LME prices partly offset by higher rupee depreciation and higher silver price. The zinc metal cost of production per metric tonne before royalty (COP) in Q1 June 2016 increased Rs 62138 in line with production plan of lower volumes from Rampura Agucha open cast mine in the current quarter and thus lower average grades. This was partly offset by lower coal & commodity prices, cost optimization projects in procurement & commercial and higher by-product credits. The COP indollar terms will be better in the year ending 31 March 2017 (FY 2017) compared to previous year. The fall in revenue and rise in cost of production resulted in a 33% decline in earnings before interest, taxes, depreciation and amortization (EBITDA) to Rs 1130 crore in Q1 June 2016 over Q1 June 2015.

The smaller investment corpus on account of dividend pay-out in the beginning of the quarter led to lower investment income, which along with higher tax rate and higher depreciation resulted in fall in net profit.

Mr. Agnivesh Agarwal, Chairman of Hindustan Zinc said that in line with strong zinc fundamentals and companys expectations, zinc prices surged 14% in Q1 June 2016 over Q1 June 2015, making it the best performing base metal. The company also witnessed a rally in silver prices, which along with increasing volumes is accentuating its contribution to profits, havingreached almost 20% at present. The transition to underground mining is progressing well with robust mine development, especially during last few months. Production from underground mines has also ramped up significantly, he added.

Hindustan Zinc is a subsidiary of Vedanta (formerly known as Sesa Sterlite), a part of London listed Vedanta Resources plc, a global diversified natural resources company. The company is one of the largest integrated producers of zinc-lead and a leading producer of silver. As per the shareholding pattern, Vedanta holds 64.92% stake and the Government of India holds 29.54% stake in Hindustan Zinc as at 30 June 2016.

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New export order boosts SSWL
Jul 20,2016

The announcement was made during market hours today, 20 July 2016.

Meanwhile, the S&P BSE Sensex was up 122.49 points or 0.44% at 27,910.11.

On BSE, so far 14,000 shares were traded in the counter as against average daily volume of 9,131 shares in the past one quarter. The stock hit a high of Rs 488 and a low of Rs 469 so far during the day. The stock had hit a record high of Rs 495 on 15 July 2016. The stock had hit a 52-week low of Rs 284 on 17 February 2016. The stock had outperformed the market over the past one month till 19 July 2016, advancing 7.26% compared with Sensexs 4.36% rise. The scrip had also outperformed the market in past one quarter, gaining 22.39% as against Sensexs 7.64% rise.

The small-cap company has equity capital of Rs 15.52 crore. Face value per share is Rs 10.

Steel Strips Wheels (SSWL) said it has secured its maiden export order from Mobius Motors, Kenya. Supplies would be executed from the companys Dappar plant in Punjab. SSWL, which is already supplying wheels to Morocco and Egypt, aims to further increase its presence in the African continent. Recent order from Kenya supports this strategy, SSWL said.

SSWLs net profit rose 55.1% to Rs 18.49 crore on 5.1% growth in net sales to Rs 308.88 crore in Q4 March 2016 over Q4 March 2015.

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

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Bhel gains after commissioning a unit of power project
Jul 20,2016

The announcement was made during market hours today, 20 July 2016.

Meanwhile, the S&P BSE Sensex was up 122.71 points or 0.44% at 27,910.33.

On BSE, so far 6.1 lakh shares were traded in the counter as against average daily volume of 8.24 lakh shares in the past one quarter. The stock hit a high of Rs 143.45 and a low of Rs 139.65 so far during the day. The stock had hit a 52-week high of Rs 289.85 on 21 July 2015. The stock had hit a 52-week low of Rs 90.40 on 29 February 2016. The stock had outperformed the market over the past one month till 19 July 2016, advancing 14.06% compared with Sensexs 4.36% rise. The scrip had, however, underperformed the market in past one quarter, gaining 5.4% as against Sensexs 7.64% rise.

The large-cap company has equity capital of Rs 489.52 crore. Face value per share is Rs 2.

Bharat Heavy Electricals (Bhel) has successfully commissioned the third unit of the 160 megawatts (MW) Teesta Low Dam Hydro Electric Project (HEP) Stage-IV in West Bengal. The greenfield project located in Darjeeling district of West Bengal, Teesta HEP is being set up by National Hydroelectric Power Corporation (NHPC), on the River Teesta. The fourth and final unit of the project is also in advanced stages of execution. The order for electrical & mechanical (E&M) works for four units of 40 MW each was placed on Bhel by NHPC.

Bhel is presently executing hydro electric projects of around 3,300 MW in the country which are under various stage of implementation. Other projects of NHPC currently under execution by Bhel are the 800 MW Parbati HEP Stage - II and 330 MW Kishanganga HEP. In West Bengal, Bhel is also executing the 120 MW Rammam Stage-III hydro-electric project of NTPC. Significantly, more than 500 hydro generating sets with a cumulative capacity of more than 29,000 MW of various ratings have been contracted on Bhel in India and abroad. Of this, equipment for about 5,700 MW generating capacity has been contracted outside India.

Bhels net profit fell 59.5% to Rs 359.58 crore on 20.8% fall in net sales to Rs 9792.04 crore in Q4 March 2016 over Q4 March 2015.

State-run Bharat Heavy Electricals (Bhel) is an integrated power plant equipment manufacturer. It is one of the largest engineering and manufacturing companies in India engaged in the design, engineering, manufacture, construction, testing, commissioning and servicing of a wide range of products and services for core sectors of the economy, viz. power, transmission, industry, railways, renewable energy, oil & gas, water and defence. The Government of India currently holds 63.06% stake in Bhel (as per the shareholding pattern as on 30 June 2016)

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ACC gains after commencing commercial production at clinker facility
Jul 20,2016

The announcement was made during market hours today, 20 July 2016.

Meanwhile, the S&P BSE Sensex was up 116.39 points or 0.42% at 27,904.01.

On BSE, so far 17,000 shares were traded in the counter as against average daily volume of 19,056 shares in the past one quarter. The stock hit a high of Rs 1,633.40 and a low of Rs 1,604 so far during the day. The stock had hit a 52-week high of Rs 1,640 on 15 July 2016. The stock had hit a 52-week low of Rs 1,173.25 on 29 February 2016. The stock had underperformed the market over the past one month till 19 July 2016, advancing 3.36% compared with Sensexs 4.36% rise. The scrip had, however, outperformed the market in past one quarter, gaining 9.51% as against Sensexs 7.64% rise.

The large-cap company has equity capital of Rs 187.79 crore. Face value per share is Rs 10.

ACC said that two new cement grinding facilities, one each at Jamul in Chhattisgarh and Sindri in Jharkhand, which form part of this integrated project, are expected to be commissioned within third quarter of 2016. This project will facilitate the company in serving its expanding customer base in the fast-growing market in East India, offering premium quality products like ACC F2R (Foundation to Roof), ACC Plus and Hi-performance PSC cements for complete concreting solutions, ACC said in a statement.

ACC is scheduled to announce its Q2 June 2016 results on 26 July 2016. The companys consolidated net profit fell 4.1% to Rs 226.95 crore on 1.5% growth in net sales to Rs 2927.38 crore in Q1 March 2016 over Q1 March 2015.

ACC is a manufacturer of cement and ready mixed concrete with a countrywide network of factories and sales offices.

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