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Volumes jump at Mandhana Industries counter
Jul 13,2016

Mandhana Industries clocked volume of 24.51 lakh shares by 12:36 IST on BSE, a 787.15-times surge over two-week average daily volume of 3,000 shares. The stock fell 4.99% to Rs 70.40.

PTC India Financial Services notched up volume of 3.28 crore shares, a 100.89-fold surge over two-week average daily volume of 3.26 lakh shares. The stock rose 3.68% to Rs 42.25.

Oil India saw volume of 12.90 lakh shares, a 48.09-fold surge over two-week average daily volume of 27,000 shares. The stock rose 2.15% to Rs 373.60.

Vardhman Textiles clocked volume of 3.10 lakh shares, a 46.70-fold surge over two-week average daily volume of 7,000 shares. The stock rose 3.16% to Rs 985.25.

Sundaram Finance saw volume of 37,000 shares, a 31.69-fold rise over two-week average daily volume of 1,000 shares. The stock rose 0.49% to Rs 1,543.20.

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Bhel moves higher on reports of securing power project in Bangladesh
Jul 13,2016

Meanwhile, the S&P BSE Sensex was down 15.67 points or 0.06% at 27,792.47.

On BSE, so far 12.17 lakh shares were traded in the counter as against average daily volume of 8.39 lakh shares in the past one quarter. The stock hit a high of Rs 146.85 and a low of Rs 139 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 12 July 2016, surging 11.85% compared with the Sensexs 4.4% rise. The scrip had, however, underperformed the market in past one quarter, advancing 8.77% as against Sensexs 10.59% rise.

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

According to reports, Bangladesh and India yesterday, 12 July 2016 signed a landmark deal for the construction of a 1,320 megawatt coal fired power plant, the biggest project under bilateral cooperation that would mark the transition from electricity export to generation level. Bangladesh-India Friendship Power Company (BIFPCL), the joint venture enterprise inked the deal with Bharat Heavy Electricals (Bhel), which was selected under an open international tender for constructing the super thermal plant at Bangladeshs southwestern Rampal near the Sundarbans, reports suggested. Indias Exim Bank will provide $1.49 billion for the project, scheduled to start generating power in 2019, as per reports.

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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Maruti Suzuki slips as Japanese yen strengthens against the dollar
Jul 13,2016

Meanwhile, the BSE Sensex was down 26.73 points, or 0.10%, to 27,781.41.

On BSE, so far 17,000 shares were traded in the counter, compared with an average volume of 76,373 shares in the past one quarter. The stock hit a high of Rs 4,360 and a low of Rs 4,302.80 so far during the day. The stock hit a record high of Rs 4,789 on 23 November 2015. The stock hit a 52-week low of Rs 3,202.10 on 29 February 2016. The stock had outperformed the market over the past one month till 12 July 2016, rising 6.13% compared with 4.40% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 22.18% as against Sensexs 10.59% rise.

The large-cap company has an equity capital of Rs 151.04 crore. Face value per share is Rs 5.

A strong yen adversely impacts Maruti Suzuki Indias (Maruti) operating profit margin. Maruti pays royalty to its Japanese parent Suzuki Motor Corporation in yen terms for some of its earlier models. Maruti has reportedly started paying royalty to its Japanese parent in rupee terms on all new models from 1 April 2016. Maruti also has an exposure to the yen to the extent it imports raw materials from Japan.

Maruti Suzuki Indias domestic sales dropped 10.2% to 92,133 units in June 2016 over June 2015. Exports slumped 44.7% to 6,707 units in June 2016 over June 2015.

Maruti Suzuki Indias net profit declined 11.7% to Rs 1133.60 crore on 12.5% growth in net sales to Rs 14929.50 crore in Q4 March 2016 over Q4 March 2015.

Maruti Suzuki India is Indias biggest car maker in terms of market share. Japanese parent Suzuki Motor Corporation currently holds 56.21% stake in Maruti (as per the shareholding pattern as on 31 March 2016).

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ONGC, Oil India in demand
Jul 13,2016

ONGC (up 3.53%) and Oil India (up 2.34%), edged higher.

The S&P BSE Sensex was down 37.81 points, or 0.11% at 27,777.51.

On 1 July 2016, the government raised the price of kerosene by 25 paise a litre, the first time in five years.

According to reports, the government has asked state-owned oil marketing companies (OMCs) n++ Indian Oil Corporation (IOC), HPCL and BPCL n++ to raise the price of subsidised kerosene by Re 0.25 a litre per month till April 2017 to bring it closer to the market-determined price.

The move is expected to benefit state-run upstream oil companies like ONGC and Oil India as kerosene and LPG are sold well below their cost of production. Media reports suggests that currently, under-recoveries on kerosene and LPG are Rs 13.10 a litre and Rs 116 per cylinder, respectively. The government gives a subsidy of Rs 12 per litre on kerosene while the balance is borne by upstream petroleum companies such as Oil India and ONGC.

The monthly kerosene price increase is similar to the path taken by the government to decontrol diesel price earlier. Petrol and diesel are sold at market-related rates following price deregulation.

Among the OMCs, IOC, with more than 67% market share, will gain the most. ONGC and Oil India may undergo earnings upgrade of 1-1.5% for the next two years. A Re 0.25 hike would translate into a Rs 250 crore benefit for ONGC -- nearly 1% profit for the company. Going forward, if there is a progressive hike of kerosene then that will wipe out the entire kerosene subsidy for these companies. This could mean Rs 1000 crore benefit to ONGC, reports added.

In the past two fiscals, the government incurred under-recoveries of Rs 24799 crore and Rs 11496 crore on kerosene, reports suggested.

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Cairn India, Vedanta extend rally
Jul 13,2016

Shares of Cairn India were up 5.75% at Rs 171.90. The stock had surged 8.33% to settle at Rs 162.55 yesterday, 12 July 2016.

Shares of Vedanta were up 6.18% at Rs 169.35. The stock had rallied 7.34% to settle at Rs 159.50 yesterday, 12 July 2016.

Meanwhile, the S&P BSE Sensex was down 2.72 points or 0.01% at 27,805.42.

Reports suggested that the Life Insurance Corporation of India (LIC) has given its informal acceptance for the proposed merger of Cairn India with Vedanta. LIC holds 9.06% stake in Cairn India as per the shareholding pattern as on 30 June 2016. It may be recalled that the Indian government had in April this year said that it wont allow the merger of Cairn India with Vedanta unless Cairn India resolves its tax issue of Rs 10247 crore. Vedanta had in June 2015 announced merger of Cairn India in a $2.3 billion all-share deal to create Indias largest diversified natural resources firm.

Cairn India, a part of the Vedanta group, is one of the largest independent oil and gas exploration and production companies in India.

On consolidated basis, Cairn India reported net loss of Rs 10948.22 crore in Q4 March 2016, higher than net loss of Rs 240.82 crore in Q4 March 2015. Net sales declined 35.9% to Rs 1716.83 crore in Q4 March 2016 over Q4 March 2015.

Vedanta is a diversified natural resources company, whose business primarily involves producing oil & gas, zinc, lead, silver, copper, iron ore, aluminium and commercial power. The company has a presence across India, South Africa, Namibia, Australia, Ireland, Liberia and Sri Lanka. Vedanta, formerly Sesa Sterlite is the Indian subsidiary of Vedanta Resources Plc, a London-listed company.

On consolidated basis, Vedanta reported net loss of Rs 11181.26 crore in Q4 March 2016, lower than net loss of Rs 19228.12 crore in Q4 March 2015. Net sales declined 10.7% to Rs 15829.13 crore in Q4 March 2016 over Q4 March 2015.

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M&M Financial declines on domestic brokerage downgrade
Jul 13,2016

Meanwhile, the S&P BSE Sensex was up 41.33 points or 0.15% at 27,849.47.

On BSE, so far 13,000 shares were traded in the counter as against average daily volume of 2.05 lakh shares in the past one quarter. The stock hit a high of Rs 360 and a low of Rs 351.45 so far during the day. The stock had hit a record high of Rs 364.20 on 11 July 2016. The stock had hit a 52-week low of Rs 173.40 on 12 February 2016. The stock had outperformed the market over the past one month till 12 July 2016, gaining 8.88% compared with the Sensexs 4.4% rise. The scrip had also outperformed the market in past one quarter, surging 37.32% as against Sensexs 10.59% rise.

The large-cap company has equity capital of Rs 113.75 crore. Face value per share is Rs 2.

The domestic brokerage reportedly said that no signs of income buoyancy are seen in rural India and Mahindra & Mahindra Financial Services (MMFSL) business performance needs to catch up significantly. The brokerage does not see any upside for MMFSL stock for now.

On consolidated basis, Mahindra & Mahindra Financial Services net profit rose 12% to Rs 411.33 crore on 13.4% growth in total income to Rs 1904.88 crore in Q4 March 2016 over Q4 March 2015.

Mahindra & Mahindra Financial Services, part of the Mahindra Group, is one of Indias leading non-banking finance companies.

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Jaiprakash Power jumps ahead of board meeting
Jul 13,2016

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

Meanwhile, the BSE Sensex was up 52.81 points, or 0.19%, to 27,860.95 .

On BSE, so far 7.96 lakh shares were traded in the counter, compared with an average volume of 4.66 lakh shares in the past one quarter. The stock hit a high of Rs 6.07 and a low of Rs 5.65 so far during the day. The stock hit a 52-week high of Rs 8.42 on 7 August 2015. The stock hit a record low of Rs 3.65 on 2 June 2016. The stock had outperformed the market over the past one month till 12 July 2016, 23.50% compared with 4.40% rise in the Sensex. The scrip had also outperformed the market in past one quarter, 18.01% as against Sensexs 10.59% rise.

The small-cap company has an equity capital of Rs 2938 crore. Face value per share is Rs 10.

Jaiprakash Power Ventures announced that its board will meet on 18 July 2016 to consider the proposed scheme of arrangement for hive-off and transfer of 500 megawatts (MW) Jaypee Bina thermal power plant of the company to its subsidiary company.

Jaiprakash Power Ventures will announce Q1 results on 18 July 2016. The company reported net loss of Rs 352.85 crore in Q4 March 2016 as against net loss of Rs 141.54 crore in Q4 March 2015. Net sales declined 26.62% to Rs 669.01 crore in Q4 March 2016 over Q4 March 2015.

Jaiprakash Power Ventures is a power company and a part of Infrastructure conglomerate - Jaypee Group. The company plans, develops, implements and operates power projects in India.

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Kwality surges after receiving funding commitment from PE fund
Jul 13,2016

The announcement was made before market hours today, 13 July 2016.

Meanwhile, the S&P BSE Sensex was up 74.70 points or 0.27% at 27,882.84.

On BSE, so far 2.52 lakh shares were traded in the counter as against average daily volume of 1.81 lakh shares in the past one quarter. The stock hit a high of Rs 117.90 and a low of Rs 114.50 so far during the day. The stock had hit a 52-week high of Rs 153.70 on 28 December 2015. The stock had hit a 52-week low of Rs 62.40 on 26 August 2015. The stock had underperformed the market over the past one month till 12 July 2016, gaining 0.82% compared with the Sensexs 4.4% rise. The scrip had also underperformed the market in past one quarter, declining 5.24% as against Sensexs 10.59% rise.

The small-cap company has equity capital of Rs 23.43 crore. Face value per share is Rs 1.

Kwality said it has received capital commitment of upto Rs 520 crore via structured finance from KKR India, one of the biggest private equity (PE) fund, to fuel the companys aggressive growth plans as it continues to rapidly shift its business model towards B2C/retail segment. The proceeds shall be utilized to fund capex to further strengthen milk procurement infrastructure solely for high-margin value-added product categories including cheese, paneer, table butters, tetra-packs, flavoured milk and yoghurt among others. The company intends to roll out a series of such products in the near future, Kwality said. Additionally, funds will be deployed for part repayment of debt to improve cash flows and augment brand building activities.

Kwalitys net profit fell 2.3% to Rs 33.35 crore on 5.9% growth in net sales to Rs 1439 crore in Q4 March 2016 over Q4 March 2015.

Kwality is one of the Indias largest and fastest growing private dairy companies.

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GE Shipping gains after buying medium-range product tanker
Jul 13,2016

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

Meanwhile, the BSE Sensex was up 63.23 points, or 0.23%, to 27.871.37.

On BSE, so far 4.480 shares were traded in the counter, compared with an average volume of 26,799 shares in the past one quarter. The stock hit a high of Rs 329 and a low of Rs 321.30 so far during the day. The stock hit a 52-week high of Rs 420 on 10 November 2015. The stock hit a 52-week low of Rs 275 on 2 March 2016. The stock had underperformed the market over the past one month till 12 July 2016, rising 3.57% compared with 4.40% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 3.21% as against Sensexs 10.59% rise.

The mid-cap company has an equity capital of Rs 150.78 crore. Face value per share is Rs 10.

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

On a consolidated basis, GE Shippings net profit fell 57.5% to Rs 58.20 crore on 0.8% decline in net sales to Rs 869.56 crore in Q4 March 2016 over Q4 March 2015.

Great Eastern Shipping Company is into the shipping business.

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Jubilant FoodWorks inches up after launch of BurgerPizza
Jul 13,2016

The announcement was made before market hours today, 13 July 2016.

Meanwhile, the S&P BSE Sensex was up 30.36 points or 0.11% at 27,838.50.

On BSE, so far 1,148 shares were traded in the counter as against average daily volume of 67,000 shares in the past two weeks. The stock hit a high of Rs 1,186.75 and a low of Rs 1,176.55 so far during the day. The stock had hit a record high of Rs 1,984 on 17 July 2015. The stock had hit a 52-week low of Rs 896.65 on 12 February 2016.

The mid-cap company has equity capital of Rs 65.84 crore. Face value per share is Rs 10.

The new BurgerPizza is an exciting innovation from Dominos and is a result of the companys focus on innovation and growth, Jubilant FoodWorks said. With BurgerPizza, the company aims to grow its share in the all day, individual consumption occasion and further grow its share of the chained Indian Food Service Industry that is pegged to grow three-fold to Rs 25000 crore within five years, the company said. Starting at Rs 89, the BurgerPizza range is available in two vegetarian and two non-vegetarian variants at the 100 plus Dominos Pizza restaurants across India, Jubilant FoodWorks said. The BurgerPizza is also available for ordering on the Dominos online ordering website and the Dominos Pizza mobile app, the company said.

Jubilant FoodWorks net profit fell 6.5% to Rs 29.47 crore on 14% rise in net sales to Rs 617.84 crore in Q4 March 2016 over Q4 March 2015.

Jubilant FoodWorks and its subsidiary operates Dominos Pizza brand with the exclusive rights for India, Nepal, Bangladesh and Sri Lanka. It operates 1,039 Dominos Pizza restaurants across 240 cities (as of 28 May 2016). The company launched Dunkin Donuts in India in April 2012 in Delhi. The company has 74 Dunkin Donuts restaurants in India (as of 28 May 2016).

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Tata Motors gains on plan to raise Rs 400 crore via NCDs
Jul 13,2016

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

Meanwhile, the BSE Sensex was up 37.53 points, or 0.13%, to 27,845.67.

On BSE, so far 28,000 shares were traded in the counter, compared with an average volume of 8.63 lakh shares in the past one quarter. The stock hit a high of Rs 487.85 and a low of Rs 484.80 so far during the day. The stock hit a 52-week high of Rs 489.60 on 23 June 2016. The stock hit a 52-week low of Rs 266 on 11 February 2016. The stock had outperformed the market over the past one month till 12 July 2016, rising 5.91% compared with 4.40% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 22.55% as against Sensexs 10.59% rise.

The large-cap company has an equity capital of Rs 577.44 crore. Face value per share is Rs 2.

Tata Motors announced that a duly constituted committee of the board of directors of the company will meet on 15 July 2016, for issuing rated, listed, unsecured, redeemable, non-convertible debentures (NCDs) aggregating to Rs 400 crore. This issuance is pursuant to the approval of the shareholders on 13 August 2015 and the board of directors resolution passed at its meeting held on 30 March 2016.

Tata Motors consolidated net profit jumped 201.6% to Rs 5177.06 crore on 18.8% growth in net sales to Rs 79926.12 crore in Q4 March 2016 over Q4 March 2015.

Tata Motors is a market leader in commercial vehicles in India. The companys British unit JLR sells premium luxury cars.

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IDFC Bank jumps after acquisition
Jul 12,2016

The announcement was made during trading hours today, 12 July 2016.

Meanwhile, the BSE Sensex was up 181.45 points, or 0.66%, to 27,808.14.

On BSE, so far 41.51 lakh shares were traded in the counter, compared with an average volume of 11.07 lakh shares in the past one quarter. The stock hit a high of Rs 53.90 and a low of Rs 48.15 so far during the day. The stock hit a record high of Rs 73.45 on 6 November 2015. The stock hit a record low of Rs 43.15 on 21 January 2016. The stock had underperformed the market over the past one month till 11 July 2016, rising 1.26% compared with 3.72% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 8.99% as against Sensexs 10.41% rise.

The large-cap company has an equity capital of Rs 3394.90 crore. Face value per share is Rs 10. Shares of IDFC Bank listed on the stock exchanges on 6 November 2015.

IDFC Bank signed a share purchase agreement to acquire 100% of Grama Vidiyal Micro Finance, one of the largest microfinance institutions in the country. Upon completion of acquisition, Grama Vidiyal will be a wholly-owned subsidiary of IDFC Bank.

Grama Vidiyal will act as a dedicated Business Correspondent of IDFC Bank, and will help deepen reach and widen the delivery mechanism for banking services. The move enables IDFC Bank to significantly enhance its network and reach and make basic banking services available to a large customer base.

The acquisition will give IDFC Bank immediate access to 1.2 million rural and semi-urban households and Grama Vidiyals network of 319 locations across 65 districts of Tamil Nadu, Kerala, Karnataka, Pondicherry, Maharashtra, Gujarat and Madhya Pradesh will act as BC centres to IDFC Bank. Current customer households of Grama Vidiyal, in turn, will benefit from IDFC Banks full range of liability products, customised credit offerings, innovative digital services and doorstep banking.

The 30-year-old, Tamil Nadu-headquartered Grama Vidiyal has an AUM (Assets Under Management) of Rs 1502 crore of micro finance assets, as on 31 March 2016. All loan assets on the book will be transferred to IDFC Bank.

Grama Vidiyals employee base of over 3000, with an understanding of the needs of local communities, will represent IDFC Bank, in their branch locations. Members of Grama Vidiyal will use IDFC Banks innovative and inter-operable Micro ATM, which functions like a n++Bank-in-a-Boxn++, allowing customers as well as non-customers to transact from the comfort of their homes and neighbourhoods. In addition to Grama Vidiyals existing locations, IDFC Bank plans to set up new bank branches in areas where Grama Vidiyals presence is concentrated to complement and support the BC operations.

IDFC Bank reported net profit of Rs 165.06 crore on operating income of Rs 1953.20 crore in Q4 March 2016.

IDFC Bank is a subsidiary of IDFC. The Reserve Bank of India (RBI) granted a universal banking license to IDFC on 23 July 2015. IDFC demerged on 1 October 2015, transferring all assets and liabilities of its lending business to IDFC Bank.

IDFC Bank is a universal bank, offering financial solutions through its nationwide branches, internet and mobile. IDFC Bank will focus on serving the rural underserved communities and the self-employed, while continuing to support the countrys infrastructure sector. IDFC Bank provides customized financial solutions to corporates, individuals, small and microenterprises, entrepreneurs, financial institutions and the government.

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ACC, Ambuja Cements edge higher on LafargeHolcims divestment in Lafarge India
Jul 12,2016

ACC (up 0.42% at Rs 1,620) and Ambuja Cements (up 0.27% at Rs 260.90) edged higher.

Meanwhile, the S&P BSE Sensex was up 196.35 points or 0.71% at 27,823.04.

LafargeHolcim announced yesterday, 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, subject to approval by the Competition Commission of India (CCI). The proceeds from the divestment will be used to reduce LafargeHolcims debt. LafargeHolcim has a divestment target of CHF 3.5 billion in 2016.

LafargeHolcim will continue to operate in India through its subsidiaries ACC and Ambuja Cements post Nirmas acquisition of LafargeHolcims stake in Lafarge India. It may be recalled that Switzerland-based Holcim had merged with Frances Lafarge in 2015 to form LafargeHolcim. Holcim (India) and Holderind Investments together held 50.34% stake in ACC (as per the shareholding pattern as on 30 June 2016). Holcim (India) and Holderind Investments together held 50.28% stake in Ambuja Cements (as per the shareholding pattern as on 31 March 2016).

Nirma is one of Indias diversified conglomerates with businesses across industrial and consumer products ranging from soaps, detergents, salt, soda ash, caustic soda, cement, packaging and other household products.

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Jyoti Structures extends rally on takeover buzz
Jul 12,2016

Meanwhile, the BSE Sensex was up 142.33 points, or 0.52%, to 27,769.02.

On BSE, so far 25.59 lakh shares were traded in the counter, compared with an average volume of 1.63 lakh shares in the past one quarter. The stock hit a high of Rs 16.31 and a low of Rs 14.10 so far during the day. The stock hit a 52-week high of Rs 28.80 on 24 July 2015. The stock hit a 52-week low of Rs 8.30 on 24 May 2016. The stock had outperformed the market over the past one month till 11 July 2016, rising 55.02% compared with 3.72% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 25.34% as against Sensexs 10.41% rise.

The small-cap company has an equity capital of Rs 21.91 crore. Face value per share is Rs 2.

Shares of Jyoti Structures surged 20% to Rs 13.75 yesterday, 11 July 2016, after media reports suggested that Amin group, which has business interests ranging from medical and health to power generation and transmission, will invest Rs 500 crore as equity for a majority stake in Jyoti Structures. This will be the first stake sale by the contractor of transmission projects since lenders took its control after a strategic debt restructuring (SDR). Post the transaction, promoter stake in the company is expected to halve from the current 23.5%, reports added.

In August 2015, consortium of 21 banks led by State Bank of India had taken operational control of the company by invoking SDR. Jyoti Structures has debt of over Rs 3800 crore, including short term debt of Rs 3043 crore, reports added.

Jyoti Structures clarified during market hours yesterday, 11 July 2016, that SDR lenders have invited final offer from the investor for their consideration.

Jyoti Structures reported net loss of Rs 52.31 crore in Q4 March 2016 as against net loss of Rs 90.95 crore in Q4 March 2015. Net sales declined 15.88% to Rs 740.02 crore in Q4 March 2016 over Q4 March 2015.

Jyoti Structures is in turnkey/EPC projects in the field of power transmission. The companys main business focus areas are transmission lines, substations and distribution projects. The company undertakes turnkey projects on a global scale, offering a complete range of services in design, testing, manufacturing, sourcing, supply and construction with its in-house expertise.

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Axis Bank nudges higher as foreign brokerage maintains overweight rating
Jul 12,2016

Meanwhile, the S&P BSE Sensex was up 103.99 points or 0.38% at 27,730.68.

On BSE, so far 3.32 lakh shares were traded in the counter as against average daily volume of 7.29 lakh shares in the past one quarter. The stock hit a high of Rs 558.30 and a low of Rs 550 so far during the day. The stock had hit a 52-week high of Rs 613.40 on 16 July 2015. The stock had hit a 52-week low of Rs 366.65 on 18 January 2016. The stock had underperformed the market over the past one month till 11 July 2016, gaining 0.56% compared with Sensexs 3.72% rise. The scrip had, however, outperformed the market in past one quarter, advancing 26.62% as against Sensexs 10.41% rise.

The large-cap private sector bank has equity capital of Rs 477.50 crore. Face value per share is Rs 2.

The foreign brokerage reportedly expects Axis Banks watchlist of stressed loans to be stable going forward in the current financial year (FY 2017). The brokerage said that Axis Bank is focused on building retail loan book. The bank has built healthy retail franchise on liability side, the brokerage added.

Axis Banks net profit fell 1.2% to Rs 2154.28 crore on 9.8% growth in total income to Rs 13592.97 crore in Q4 March 2016 over Q4 March 2015.

Axis Bank is one of the biggest private sector banks in India.

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