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Granules India allots equity shares
Dec 28,2016

Granules India has allotted 39,17,454 equity shares of face value of Re. 1/- each fully paid-up pursuant to exercise of right for conversion of warrants into equity shares.

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Board of Cupid to consider proposal for raising funds
Dec 28,2016

Cupid announced that a meeting of the Board of Directors will be held on 05 January 2017, inter alia, to consider and discuss the following items:

1. Proposal for raising funds through issue of securities.

2. Increase in authorised capital of the Company.

3. Calling for an Extraordinary General Meeting for obtaining the shareholders approval for the above matters.

4. Such other incidental or ancillary issue which may be required in this regard.

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IDFC Bank to consider Q3 and 9M results
Dec 28,2016

IDFC Bank announced that the Board Meeting of the Bank will be held on 25 January 2017, inter alia, to discuss and approve the Unaudited Financial Results (subjected to Limited Review by Auditors) for the quarter and nine months ending 31 December 2016.

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Kaushalya Infrastructure Development Corpn to appoint director
Dec 28,2016

Kaushalya Infrastructure Development Corpn announced that the meeting of the Board of Directors of the Company will be held on 30 December 2016, inter alia, to consider following businesses:

- To appoint Asoke Das as a Non-Executive Additional Independent Director of the Company w.e.f. 30 December 2016.

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Texel Industries exits BIFR
Dec 28,2016

Texel Industries announced that on 27 December 2016, the Company has received Order of Honorable BIFR, dated 30 November 2016, pronouncing that the Company ceases to be a Sick Industrial Company, within the meaning of Section 3(1)(o) of SICA, as the Companys net worth has turned positive. Therefore, the Company is discharged from the purview of SICA/BIFR.

The said order is pronounced in the matter of Companys Miscellaneous Application No.250/2016, (BIFR Reg. No.433/2001) with BIFR.

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Cupid surges on mulling fund raising
Dec 28,2016

The announcement was made during market hours today, 28 December 2016.

Meanwhile, the S&P BSE Sensex was up 140.05 points or 0.53% at 26,353.49.

On the BSE, 21,000 shares were traded on the counter so far as against the average daily volumes of 17,939 shares in the past one quarter. The stock had hit a high of Rs 314.30 and a low of Rs 289 so far during the day.

The stock had hit a 52-week high of Rs 453.80 on 30 December 2015 and a 52-week low of Rs 228.50 on 18 February 2016. It had underperformed the market over the past one month till 27 December 2016, sliding 1.31% compared with the Sensexs 0.39% fall. The scrip had, however, outperformed the market in the past one quarter, declining 6.59% as against the Sensexs 7.12% fall.

The small-cap company has equity capital of Rs 11.11 crore. Face value per share is Rs 10.

Cupids net profit rose 30.4% to Rs 5.36 crore on 40.5% growth in net sales to Rs 21.53 crore in Q2 September 2016 over Q2 September 2015.

Cupid is a leading manufacturer of quality male and female condoms.

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Globus Spirits gains after Bihar unit resumes operations
Dec 28,2016

The announcement was made during trading hours today, 28 December 2016.

Meanwhile, the BSE Sensex was up 104.10 points, or 0.40%, to 26,317.54.

On the BSE, so far 17,000 shares were traded in the counter, compared with average daily volumes of 1.15 lakh shares in the past one quarter. The stock had hit a high of Rs 87.40 and a low of Rs 83.40 so far during the day.

The stock hit a 52-week high of Rs 115.90 on 29 September 2016. The stock hit a 52-week low of Rs 50.30 on 29 February 2016. The stock had underperformed the market over the past 30 days till 27 December 2016, falling 13.09% compared with the 0.52% fall in the Sensex. The scrip had underperformed the market in past one quarter, falling 20.39% as against Sensexs 7.35% decline.

The small-cap company has equity capital of Rs 28.80 crore. Face value per share is Rs 10.

Globus Spirits said it resumed its operation and commenced its commercial production (with a production capacity of 80,000 bulk litre per day) on 2 December 2016 after removing all the technical bottlenecks at its unit at Jandoho in Bihar. The operations at the Bihar unit were disrupted since 5 September 2016 owing to flooding at the factory premises caused by heavy rains.

Net profit of Globus Spirits declined 97.62% to Rs 0.03 crore on 0.4% rise in net sales to Rs 161.74 crore in Q2 September 2016 over Q2 September 2015.

Globus Spirits is one of the leading players in the Indian alcoholic beverages industry. It caters to four important segments of the alcohol industry - Indian Made Indian Liquor (IMIL), Indian Made Foreign Liquor (IMFL), IMFL bottling and bulk alcohol.

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It is vital to eliminate convenience charge by the banks, says TRAI Chairman RS Sharma
Dec 28,2016

n++Cost, Convenience, and Confidence are crucial factors for a successful Digital Payment System implementation in India,n++ said Shri R. S. Sharma, Chairman, Telecom Regulatory Authority of India (TRAI) during a seminar on n++Demonetization to Digital Remonetizationn++ held at FICCI, Federation House.

FICCI organised an ICT policy dialogue with the agenda to discuss the challenges and opportunities that lie before the ICT sector, government and the regulators following the demonetization move. During his address Shri R. S. Sharma highlighted the pillars of Digital India and mentioned the need of an effective Digital Infrastructure, and how availability and affordability of digital solutions formulates the base of Digital Remonetization. The TRAI chairman highlighted how JAM Trinity creates a robust system within India, which further creates a digital inclusion with 1.1 billion Aadhar users across India.

Shri R. S. Sharma recommended that, in order to create a well operational and sustainable digital and cashless economy, it is vital to eliminate convenience charge by the banks. He firmly suggested that interoperatable or interlinked digital wallets can additionally support the digital payment systems of India. Among other number of recommendations by TRAI chairman, Shri Sharma also mentioned that the implementation of Bharatnet will be faster and effective with PPP model, and further combined with Digital Cable Television System, India will reach a new level of digital connectivity.

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Sirpur Paper Mills announces change in nominee directors
Dec 28,2016

Sirpur Paper Mills announced the following changes in directorate -

1. IDBI Bank has vide its letter dated 19 November 2016 withdrawn the nomination of Bardi Srinivasa Rao, from the Board of the Company and instead appointed Sandhya Bai Yashawant, General Manager, as their nominee director with effect from 28 November 2016;

2. LIC of India informed vide its letter dated 24 November 2016, that since Poonam Bodra their nominee on the Board of the Company was retiring from the services as Executive Director of LIC of India, has tendered her resignation as director of the Company with w.e.f. 24 November 2016. LIC of India has also informed that they reserve their right for appointing a new Director on the Companys Board in place of Poonam Bodra.

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Centre launches IVRS platform to address the problem of call drops
Dec 28,2016

Department of Telecommunications (DoT) has been taking various initiatives to address the problem of call drops faced by subscribers in mobile networks. The Telecom Service Providers (TSPs) have installed more than 1,30,000 additional BTSs (Base Transceiver Stations) across the country during the period from June 2016 to October 2016 and further plan to install more than 1,50,000 additional BTSs across the country up to 31st March 2017.

In order to obtain direct feedback from subscribers and use that feedback to solve the problem of call drops, DoT has launched an Integrated Voice Response System (IVRS) system in Delhi, Mumbai, Punjab, UP, Uttarakhand, Maharashtra and Goa on 23rd December 2016. The IVRS system will be extended to the entire country very soon.

Subscribers will receive an IVRS call from the short code 1955. They will be asked a few questions on the subject of call drops such as- n++Are they facing call drops in their area or not? They can also send a toll-free SMS to the same short code 1955, containing the location of city/town/village, where they might be facing the problem of frequent call drops. The feedback of the subscribers will be shared with the Telecom Service Providers so that they can take corrective steps in the identified areas, to improve the mobile network for addressing the problem of call drops.

Minister of Communications Shri Manoj Sinha said that n++the platform is a channel to capture direct feedback from the consumers and this voice of the customer can be used to improve the services that are being offered to themn++. He said, initially the government will use the platform for call drops and will extend this to capture consumer feedback in other areas as well in the future.

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Oracle Financial Services Software allots equity shares
Dec 28,2016

Oracle Financial Services Software announced that the ESOP Allotment Committee of the Company at its meeting held on 28 December 2016 allotted 23,648 equity shares of face value of Rs. 5/- each to the eligible Employees of the Company who have exercised their stock options under the Employee Stock Option Scheme 2010, Employee Stock Option Scheme 2011 and OFSS Stock Plan 2014. These shares rank pari passu with the existing equity shares of the Company in all respects. In this allotment, no shares are allotted to Directors of the Company.

With this allotment, the paid up capital of the Company has increased to Rs. 425,264,245.00 divided into 85,052,849 equity shares of face value of Rs. 5/- each.

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Religare Enterprises gains on plan to merge 11 units with itself
Dec 28,2016

The announcement was made after market hours yesterday, 27 December 2016.

Meanwhile, the BSE Sensex was up 84.56 points, or 0.32%, to 26,298.

On the BSE, so far 1,899 shares were traded in the counter, compared with average daily volumes of 4,080 shares in the past one quarter. The stock had hit a high of Rs 258.50 and a low of Rs 254 so far during the day.

The stock hit a 52-week high of Rs 319 on 30 December 2015. The stock hit a 52-week low of Rs 221.05 on 15 November 2016. The stock had underperformed the market over the past 30 days till 27 December 2016, falling 7.15% compared with the 0.52% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, falling 5.69% as against Sensexs 7.35% decline.

The mid-cap company has equity capital of Rs 178.33 crore. Face value per share is Rs 10.

The board of Religare Enterprises (REL) has approved a plan to merge 11 of its subsidiaries with REL. The proposed structure is aimed at streamlining the organization and is designed to allow REL to achieve its objective of following a focused, growth oriented strategy.

The units to be merged are: Religare Securities (excluding its broking business), Religare Commodity Broking, RGAM Investment Advisors, Religare Venture Capital, Religare Arts Investment Management, Religare Capital Finance, RGAM Capital India, Religare Investment Advisors, Religare Support Services, Religare Arts Initiative and Religare Capital Markets (India).

The new structure will reduce operational and administrative costs of maintaining multiple legal entities and focus resources on core businesses. The consolidation will not have an impact on the companys shareholding pattern.

Religare Enterprises reported net loss of Rs 39.54 crore in Q2 September 2016 as against net loss of Rs 13.90 crore in Q2 September 2015. Net sales declined 94.8% to Rs 0.27 crore in Q2 September 2016 over Q2 September 2015.

Religare Enterprises (REL) is the holding company for one of Indias leading diversified financial services groups. REL offers an integrated suite of financial services through its underlying subsidiaries and operating entities, including loans to SMEs, affordable housing finance, health insurance, capital markets and wealth management.

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Pharma stocks move north tracking weakness in rupee
Dec 28,2016

Meanwhile, the S&P BSE Sensex was up 86.37 points or 0.33% at 26,299.81. The S&P BSE Healthcare index was trading 1.19% higher, outperforming the Sensex.

Divis Laboratories (up 2.55%), Cadila Healthcare (up 1.74%), Glenmark Pharmaceuticals (up 1.7%), Ipca Laboratories (up 1.52%), Alkem Laboratories (up 1.39%), Dr Reddys Laboratories (up 1.33%), Wockhardt (up 1.19%), Aurobindo Pharma (up 1.1%), Lupin (up 0.99%), Cipla (up 0.82%), Sun Pharmaceutical Industries (up 0.78%) and Strides Shasun (up 0.24%) edged higher. GlaxoSmithkline Pharmaceuticals (down 0.06%) edged lower.

A weak rupee boosts the value of overseas earnings of pharma firms in local terms. Pharma companies derive substantial revenue from exports.

In the foreign exchange market, the partially convertible rupee was hovering at 68.215, compared with closing of 68.06 during the previous trading session.

The BSE Healthcare index had underperformed the market over the past one month till 27 December 2016, sliding 7.58% compared with the Sensexs 0.39% fall. The index had also underperformed the market in the past one quarter, declining 13.15% as against the Sensexs 7.12% fall.

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IT stocks firm up on weak rupee
Dec 28,2016

Meanwhile, the S&P BSE Sensex was up 93.18 points or 0.36% at 26,306.62.

Wipro (up 2.16%), Tech Mahindra (up 1.44%), HCL Technologies (up 1.23%), Persistent Systems (up 0.99%), Infosys (up 0.58%) edged higher. Oracle Financial Services Software fell 0.91%.

TCS rose 0.78% after the company announced that VersaCoId Logistics Services, Canadas largest end-to-end supply chain solutions company for temperature sensitive products has selected TAP, TCS procure to pay cloud solution, to manage their operating costs with greater efficiency. The announcement was made after market hours yesterday, 27 December 2016.

A weak rupee boosts revenue of IT firms in rupee terms as the sector derives a lions share of revenue from exports.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 68.2250, compared with closing of 68.06 during the previous trading session.

The S&P BSE IT index had outperformed the market over the past one month till 27 December 2016, advancing 1.09% compared with the Sensexs 0.39% fall. The index had also outperformed the market in past one quarter, declining 3.17% as against the Sensexs 7.12% fall.

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Number of airports to be doubled to 150 : Jayant Sinha
Dec 28,2016

n++Aviation sector is the sunrise sector of growth and going through profound changesn++, remarked Mr. Jayant Sinha, Minister of State for Civil Aviation, while addressing the 89th Annual General Meeting of FICCI.

The aviation sector has dramatic headroom for growth with 150 million passenger trips a year as compared to China with 450 million passenger trips and USA at 800 million passenger trips a year. The total revenue of airlines is Rs 1.4 lakh crore and is growing at a rate of 20%. He added that as of today 9 crore passenger travel domestically and 5 crore internationally.

He emphasized that the government is committed to safety and security and will launch the unified command of CISF in the entire aviation system.

The minister specified that there are three priorities for the government. The first is better, delightful and digital experience through AirSewa, which serves as an integrated collaborative platform. Adopting the Kaizen principle, the Ministry will bring continuous improvement in the areas of airport facilities, decrease in immigration lines, customer services etc. Second, under the Regional Connectivity Scheme, the government is working for expansion of aviation map from 75 to 150 airports in the country. Recently the airports of Kanpur and Bhatinda have become operational under the scheme.

Going ahead, he said that government is working to build airport capacity by expanding existing terminals, building new terminals and developing greenfield airports. The Minister said that Rs 2.5-3 lakh crore investment is required for airports excluding the land acquisition cost. He added that government is a developing regulatory framework for the aviation sector to make it asset class attractive.

Asked about the performance of Air India, the Minister said that all operating factors including load factor, cabin crew are looking positive. However, a clear strategy is to be defined to make it financially robust.

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