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Esaar (India) reports standalone net loss of Rs 0.44 crore in the September 2016 quarter
Nov 15,2016

Net loss of Esaar (India) reported to Rs 0.44 crore in the quarter ended September 2016 as against net profit of Rs 0.06 crore during the previous quarter ended September 2015. Sales rose 143.92% to Rs 3.61 crore in the quarter ended September 2016 as against Rs 1.48 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales3.611.48 144 OPM %-10.2514.86 - PBDT-0.440.06 PL PBT-0.440.06 PL NP-0.440.06 PL

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Transglobe Foods reports standalone nil net profit/loss in the September 2016 quarter
Nov 15,2016

Transglobe Foods reported no net profit/loss in the quarter ended September 2016 as against net profit of Rs 0.07 crore during the previous quarter ended September 2015. Sales declined 90.38% to Rs 0.05 crore in the quarter ended September 2016 as against Rs 0.52 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales0.050.52 -90 OPM %013.46 - PBDT00.07 -100 PBT00.07 -100 NP00.07 -100

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Hexaware Technologies named among Top 15 Sourcing Services Provider
Nov 15,2016

Hexaware Technologies announced that it has been named a Top 15 Sourcing Standout by Information Services Group (ISG), a leading technology insights, market intelligence and advisory services company.

Hexaware was among the leading providers in the Breakthrough 15 category for the Americas region based on annual contract value won over the last 12 months, according to the 3Q 2016 Global ISG index.

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Addi Industries standalone net profit rises 450.00% in the September 2016 quarter
Nov 15,2016

Net profit of Addi Industries rose 450.00% to Rs 0.11 crore in the quarter ended September 2016 as against Rs 0.02 crore during the previous quarter ended September 2015. There were no Sales reported in the quarter ended September 2016 as against Rs 0.17 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales00.17 -100 OPM %0-105.88 - PBDT0.230.17 35 PBT0.140.05 180 NP0.110.02 450

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Addi Industries consolidated net profit rises 160.00% in the September 2016 quarter
Nov 15,2016

Net profit of Addi Industries rose 160.00% to Rs 0.13 crore in the quarter ended September 2016 as against Rs 0.05 crore during the previous quarter ended September 2015. There were no Sales reported in the quarter ended September 2016 as against Rs 0.17 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales00.17 -100 OPM %0-105.88 - PBDT0.250.20 25 PBT0.160.08 100 NP0.130.05 160

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Ambuja Cements declines after huge bulk deal
Nov 15,2016

Meanwhile, the S&P BSE Sensex was down 382.71 points or 1.43% at 26,436.11

Bulk deal boosted volume on the scrip. On BSE, so far 4.48 crore shares were traded in the counter as against average daily volume of 2.01 lakh shares in the past two weeks. The stock hit a high of Rs 241.25 and a low of Rs 210.25 so far during the day. The stock had hit a 52-week high of Rs 282 on 31 August 2016. The stock had hit a 52-week low of Rs 185 on 29 February 2016.

The large-cap company has an equity capital of Rs 397.13 crore. Face value per share is Rs 2.

Ambuja Cements consolidated net profit rose 40.39% to Rs 216.11 crore on 113.81% growth in total income to Rs 4678.45 crore in Q3 September 2016 over Q3 September 2015.

Ambuja Cements is engaged in manufacturing and marketing cement and clinker for both domestic and exports. The company sells cement under the Ambuja Cement brand.

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Huge Import of RBD Palmolein says The Solvent Extractors Association of India
Nov 15,2016

Import of vegetable oils during Oil Year 2015-16 (November 2015 to October 2016) i.e. edible oil and non-edible oil reported at 147.4 lakh tons (14.74 MnT) compared to 146.1 lakh tons (14.61 MnT) for the same period of last year practically remained stagnant from the previous year, thanks to reduction in oil stock by 435,000 tons during the year.

Import of Vegetable Oils during October 2016 is reported very low at 1,173,254 tons compared to 1,670,891 tons for October 2015 and 13.99 lakh tons in September 2016 reducing overall incremental growth of 5% upto September 2016 to just 1% for the whole year 2015-16.

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Tata Steel slumps after reverse turnaround in Q2
Nov 15,2016

The result was announced after market hours on Friday, 11 November 2016. The stock markets were closed on Monday, 14 November 2016, for a public holiday.

Meanwhile, the S&P BSE Sensex was down 358.72 points or 1.34% at 26,460.10

On BSE, so far 6.66 lakh shares were traded in the counter as against average daily volume of 8.96 lakh shares in the past two weeks. The stock hit a high of Rs 417 and a low of Rs 394.15 so far during the day. The stock had hit a 52-week high of Rs 440.90 on 11 November 2016. The stock had hit a 52-week low of Rs 211.30 on 12 February 2016.

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

Tata Steels total income declined 22.5% to Rs 26602.03 crore in Q2 September 2016 over Q2 September 2015. Other income dropped 97.09% to Rs 231.08 crore in Q2 September 2016 over Q2 September 2015.

Tata Steels consolidated earnings before interest, taxation, depreciation and amortization (EBITDA) fell 8.5% to Rs 2992 crore in Q2 September 2016 over Q2 September 2015. The drop in margins was due to lower realisations in India and ramp-up costs of Kalinganagar. EBITDA rose 66% in Q2 September 2016 over Q2 September 2015 largely due to significant improvement in the operating performance at Tata Steel Europe.

In its outlook for Indian operations, Tata Steel said that a seasonal uptick in demand is expected to be backed by positive variables like 7th Pay Commission disbursements, good monsoons and penetration of organised financing in Tier 2/3 cities. The increase in tariff barriers globally on Chinese steel has opened exports opportunity for Indian steel players which will help the domestic demand supply balance . The recently announced demonetisation is expected to cause short term disruptions. For European operations, Tata Steel said that the European Union economy is expected to grow gradually though UKs growth has been revised downwards following the Brexit referendum result. European steel mills are expected to continue to be under pressure from imports. The weaker pound is expected to improve UKs short-term competitive position, however it will add cost pressure due to higher cost of raw materials purchased in US dollars. For South East Asian operations, Tata Steel said that steel demand in Thailand is expected to maintain its growth rate on the back of expanding government expenditure and progress on infrastructure investment plans. Demand in Singapore is expected to be subdued on continued slower construction sector growth and low downstream spreads. Increasing trade barriers on Chinese steel in countries like Malaysia, Vietnam provides export opportunities.

T V Narendran, Managing Director of Tata Steel India and South East Asia, said that the markets were challenging as strong monsoons affected steel demand across the country while the increase in domestic capacity added to the competitive pressure.

Tata Steel is Europes second largest steel producer, with steelmaking in the UK and Netherlands, and manufacturing plants across Europe. The combined Tata Steel group is one of the worlds largest steel producers.

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n++Demonetisation a Masterstroken++, Give it time to play out - CII
Nov 15,2016

The recent move by the government to demonetise high denomination notes is likely to have far-reaching impact, striking a blow at the heart of the illegal economy. While it is not possible to have a firm estimate of unaccounted wealth, it is widely estimated at around a fifth of Indias GDP or around $450 billion. While some of this may be stored in cash, some may be in assets such as real estate and jewellery. This negatively affects the business environment, especially for those who comply with the law of the land and follow ethical practices, CII has said.

n++After a short period of some pain when the economy adjusts to the sudden withdrawal of cash, CII expects a much stronger economy. Indias cash-dependence is extremely high with a currency-GDP ratio of around 12 per cent compared to 4-5 per cent in other developing countries. High level of cash usage tends to slow down the flow of money through the economy. As we transition to a greater usage of fintech for payments, spending will rise leading to additional economic growth. This is an economic masterstroke by the Prime Minister and must be allowed time to play outn++ said Chandrajit Banerjee, Director General, CII.

The prevalence of cash use has also made India prone to high inflation. Corruption and excessive cash use tends to erode the purchasing power of money. Lower cash use will have a dampening impact on inflation and this will be a further positive for Indias macro-fundamentals. n++The Reserve Bank will now have more room to cut interest rates as inflation subsides. Already, the bond market has reacted to the news with a reduction in the bond yieldsn++ Mr Banerjee observed.

The CII release further elaborated, that this move will be positive for banks whose deposit mobilisation will be strengthened. The old currency notes will be deposited with banks and more households will find it imperative to open bank accounts and make use of card payments. Currency in the form of Rs 1000 and Rs 500 notes amounted to Rs 14.2 lakh crore as of March 2016, or about 85 per cent of total currency in circulation. If this is converted to current and savings deposits, there will be an increase in banks liquidity. This is also a great opportunity to transition to a n++plastic economyn++, where there is a prevalence of debit and credit cards for transactions, CII said in the release.

CII has stated that in all likelihood, a fair proportion of the Rs 14 lakh crore in high-denomination currency will not return to the banking system, for fear of accounts being scrutinized. If one assumes that about 20 per cent of the cash does not return to the system, this would amount to about Rs 3 lakh crore or $42 billion. This is a reduction in the RBIs liability to the public, allowing it to print a similar amount of fresh money or transfer the gain to the government.

n++The biggest gain from this move will be greater formalisation of the economy. Currently, the costs of informality are evident in low tax base which impacts government revenues, lack of economic control through monetary instruments, and lower economies of scale. Indias tax base is low and its tax to GDP ratio needs to increase from the current level of 16.6 per cent, which is much lower than about 21 per cent in other emerging economies. Less than 30 million Indians filed personal income tax with more than half of these paying no taxn++ said the CII Director General.

The demonetization of high denomination notes is ultimately a strong message that goes out to all those who used cash for illicit activities. A big blow has been dealt to those who engaged in corruption and took cash bribes. The message will have far-reaching implications for those who indulge in such illicit activities. This would greatly curb such transactions and will be a body blow to corruption, racketeering, human trafficking, gambling, and other such activities which vitiate the entire security system of the country, said the CII release.

For industry, this is indeed a historic and welcome move with very positive implications. The existence of a parallel economy provides unfair competition to organised industry which pays taxes and complies with standards. Such a decisive move will change the perception of India completely and bring about much-needed transparency. It will prevent people from violating the law with impunity even for daily business transactions, CII said.

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Mefcom Capital Markets announces resignation of company secretary
Nov 15,2016

Mefcom Capital Markets announced that Nipa Verma, Company Secretary of the Company has tendered resignation on 21 September 2016 and relieved from the duties with effect from close of business hours on 15 October 2016 and the same has been taken on record by the Management and will be noted in upcoming Board Meeting of the Company.

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Board of Sanguine Media to consider change in FV of shares
Nov 15,2016

Sanguine Media announced that the Board of Directors in its meeting held on 14 November 2016, has decided the following matters:

1. Change the face value of equity shares of the Company from Re. 1/- to Rs. 10/- per share.

2. To hold the Shareholders meeting in due course.

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Board of Aadhaar Ventures India to consider change in FV of shares
Nov 15,2016

Aadhaar Ventures India announced that the meeting of Board of Directors of the Company will be held on 01 December 2016, inter alia, to consider the change the face value of the Equity shares of the Company.

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Board of HPCL approves proposal to participate in proposed refinery and petrochemical complex
Nov 15,2016

Hindustan Petroleum Corporation announced that the Board of Directors in its meeting held on 15 November 2016, have considered the proposal to participate in the proposed 60 MMTPA Grass Root Refinery and Petrochemicals Complex on the West Coast in Maharashtra in consortium with other partners.

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Vardhman Industries announces change in directorate
Nov 15,2016

Vardhman Industries announced that Radhika Gupta has tendered her resignation from the directorship of the Board of the Company with effect from 14 November 2016.

Further the Company has informed that, Neelam Sharma has appointed Director of the Company with effect from 14 November 2016 by the Board of Directors in their meeting held on 14 November 2016

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Elevated Global Yields, Benign Domestic Conditions to Keep Markets Choppy
Nov 15,2016

Rising global yields are posing challenges for markets at a time when domestic developments are anchoring investment interests, says India Ratings and Research (Ind-Ra). Domestically, currency and debt markets will take cues from global developments while considering domestic inflation data and interbank liquidity conditions. The 10-year G-sec yield could trade at 6.64%-6.74% (6.72% at close on 11 November 2016). The rupee is likely to trade at 67.25/USD-67.95/USD (67.25/USD at close on 11 November 2016).

Demand Boost for Bonds, Global Risks Continue: With a large cash component (INR14.1trn currency consists of INR500 and INR1000 notes at an aggregate level) entering the banking channel, the first impact will be a deposit boost. This durable increase in the deposit base will create more demand for government bonds and other high rated bonds in an environment of tepid credit demand. Additionally, benign retail inflation trajectory will keep aid investors appetite for bonds. Headwinds to bond market momentum will emerge from a surge in global bond yields - US 30-year and 10-year treasury yields surged over 50bp in less than a month to 2.96% and 2.25% respectively, following the alignment post the US election outcome.

Improvement in Liquidity Conditions: Interbank liquidity will increase as a large amount of cash in circulation moves in to the formal banking channel - translating to almost no scope for open market purchase operations. The sharp improvement in interbank liquidity and deposit will lead to a reduction in certificate of deposits issuances and a drop in deposit rates.

Rupee Weakening Bias to Intensify: As the dust settles following the US presidential elections and as investors ascertain implications of the outcome, risk aversion sentiment dominates globally. Additionally, the US Feds stance on rates is in focus, keeping the dollar firm. The rupee has emerged as a low beta asset among the major Asian currencies, exhibiting relative stability. This resilience is likely to continue, keeping it anchored on account of domestic fundamentals. However, vulnerability to global sentiments will keep the currency trading with a depreciation bias in the near term.

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