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Maruti drops as Japanese yen strengthenes against the dollar
Jun 24,2016

Meanwhile, the S&P BSE Sensex was down 970.37 points or 3.59% at 26,031.85.

On BSE, so far 94,000 shares were traded in the counter as against average daily volume of 78,442 shares in the past one quarter. The stock hit a high of Rs 4,071 and a low of Rs 3,868.10 so far during the day. The stock had hit a 52-week low of Rs 3,202.10 on 29 February 2016. The stock had hit a record high of Rs 4,789 on 23 November 2015. The stock had underperformed the market over the past one month till 23 June 2016, advancing 6.42% compared with Sensexs 7.02% rise. The scrip had, however, outperformed the market in past one quarter, gaining 11.43% as against Sensexs 6.57% rise.

The large-cap company has 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 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 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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Realty, Industrials indices lead losses from sectoral indices on BSE
Jun 24,2016

Meanwhile, the S&P BSE Sensex was off 991.44 points or 3.67% at 26,010.78 slumping along with the carnage witnessed in world financial markets after outcome of Brexit referendum vote today, 24 June 2016 suggested Britain voted to leave the European Union (EU). Investors are worried that Brexit from EU will have serious implications on the global economy.

Britain has voted to leave the European Union based on voter tallies from todays 24 June 2016, referendum, an outcome that would set the country on an uncertain path and deal the largest setback to European efforts to forge greater unity since World War Two.

World financial markets dived as counting from 374 of 382 areas showed a 51.7/48.3 split for leaving. Quitting the EU could cost Britain access to the EUs trade barrier-free single market and mean it must seek new trade accords with countries around the world. Risk assets were scorched as investors fled to the safety of top-rated government debt. The currencies collapsed with British Pound Sterling and Euro witnessing a free fall against the dollar.

All the nineteen sectoral indices on BSE were in the red. The S&P BSE Realty index (down 6.07%), the S&P BSE Industrials index (down 5.84%), the S&P BSE Bankex (down 5.08%), the S&P BSE Auto index (down 5.37%), the S&P BSE Finance index (down 4.34%), the S&P BSE Metal index (down 5.58%), the S&P BSE Capital Goods index (down 4.89%), and the S&P BSE Basic Materials index (down 4.62%) underperformed the Sensex.

The S&P BSE Healthcare index (down 2.12%), the S&P BSE Oil & Gas index (down 2.88%), the S&P BSE FMCG index (down 2.05%), the S&P BSE Consumer Durables index (down 2.15%), the S&P BSE Energy index (down 3.27%), the S&P BSE IT index (down 3.42%), the S&P BSE Consumer Discretionary Goods & Services index (down 3.18%), the S&P BSE Teck index (down 3.36%), the S&P BSE Power index (down 3.37%), the S&P BSE Utilities index (down 3.09%), and the S&P BSE Telecom index (down 3.47%) outperformed the Sensex.

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Metal stocks decline on slump in copper prices
Jun 24,2016

Tata Steel (down 8.9% at Rs 304.05), Vedanta (down 8.97% at Rs 115.15), Hindalco Industries (down 7.71% at Rs 114.30), Jindal Steel & Power (down 6.32% at Rs 61.50), Steel Authority of India (down 6.14% at Rs 41.25), Hindustan Copper (down 3.74% at Rs 50.15), Hindustan Zinc (down 3.64% at Rs 168.25), JSW Steel (down 3.63% at Rs 1,349.55), NMDC (down 2.4% at Rs 89.45) and National Aluminium Company (down 0.85% at Rs 41) edged lower.

High Grade Copper for July 2016 delivery was currently down 3.58% at $2.085 per pound on the COMEX.

Meanwhile, the S&P BSE Metal index was down 483.31 points or 5.69% at 8,011.24. It has underperformed the Sensex which was down 1,022.97 points or 3.79% at 25,979.25.

The BSE Metal index had outperformed the market over the past one month till 23 June 2016, advancing 14.29% compared with Sensexs 7.02% rise. The index had also outperformed the market in past one quarter, gaining 11.14% as against Sensexs 6.57% rise.

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Oil E&P stocks slide alongside drop in global crude oil prices
Jun 24,2016

Meanwhile, the S&P BSE Sensex was off 901.14 points or 3.34% at 26,101.08 dropping along with carnage in world financial markets after results of Brexit referendum vote suggested Britains exit from the European Union.

Cairn India (down 4.05%), ONGC (down 3.9%), Oil India (down 2.22%) and Reliance Industries (RIL) (down 3.33%) dropped.

Lower crude oil prices will result in lower realization from crude oil sales for oil exploration & production (E&P) firms.

Britain has voted to leave the European Union based on voter tallies from todays 24 June 2016, referendum, an outcome that would set the country on an uncertain path and deal the largest setback to European efforts to forge greater unity since World War Two.

World financial markets dived as counting from 304 of 382 areas showed a 51.5/48.5 split for leaving. Quitting the EU could cost Britain access to the EUs trade barrier-free single market and mean it must seek new trade accords with countries around the world. Risk assets were scorched as investors fled to the safety of top-rated government debt. The currencies collapsed with British Pound Sterling and Euro witnessing a free fall against the dollar.

Crude oil futures also witnessed selling pressure after Britain chose to leave European Union. Brent for August 2016 settlement was currently off $2.80 per barrel at $48.11 a barrel. The Brent August contract had risen $1.03 a barrel or 2.06% to settle at $50.91 a barrel yesterday, 23 June 2016.

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Tata Motors, Tata Steel tumble on reports of vote in favour of Brexit
Jun 24,2016

Tata Motors (down 9.4% to Rs 442.15) and Tata Steel (down 6.4% at Rs 312.40) edged lower.

Meanwhile, the S&P BSE Sensex was down 811.63 points or 3.01% at 26,190.59.

Media reports suggested that the United Kingdom (UK) has voted to leave the European Union (EU) by a 52%-48% margin popularly referred to as Brexit.

Tata Motors derives majority of its revenue from its British luxury car unit Jaguar Land Rover (JLR). JLR is the largest automotive manufacturer in Britain. It is one of the UKs largest exporters and generates over 80% of its revenue from exports.

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.

Tata Steel is Europes second largest steel producer, with steelmaking in the UK and Netherlands, and manufacturing plants across Europe. Tata Steel Europe has initiated the process to sell its UK business viz. Tata Steel UK. Tata Steel Europe has invited seven short listed potential investors to submit binding bids for Tata Steel UK.

Tata Steel reported consolidated net loss of Rs 3213.76 crore in Q4 March 2016 compared with net loss of Rs 5674.29 crore in Q4 March 2015. Net sales fell 12.5% to Rs 29164.37 crore in Q4 March 2016 over Q4 March 2015.

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, with a steel capacity of more than 28 million tonnes and 80,000 employees across five continents.

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IT stocks drop as referendum outcome suggests Brexit from EU
Jun 24,2016

Meanwhile, the S&P BSE Sensex was down 781.50 points or 2.87% at 26,227.68.

TCS (down 2.41%), MphasiS (down 4.01%), HCL Technologies (down 4.61%), Tech Mahindra (down 3.85%), Oracle Financial Services Software (down 2.42%), Wipro (down 2.09%), Infosys (down 2.23%), Persistent Systems (down 4.6%), MindTree (down 3.01%) and Hexaware Technologies (down 2.34%) edged lower. The UK is the second biggest IT outsourcing market after the United States for the IT companies.

Carnage came to world markets today, 24 June 3016 as early voting returns on the Brexit referendum suggested Britain was on the brink of leaving the European Union, threatening the existence of the entire bloc and its single currency. Risk assets were scorched as investors fled to the safety of top-rated government debt. The currencies collapsed with British Pound Sterling and Euro witnessing a free fall against the dollar.

Early official results showed the margins were nail-bitingly tight but pointing to a Leave. Betting firm BetFair estimated the probability of leaving as high as 74 percent. With half of 382 counting areas declared, the Leave camp was put at 51.3% against 48.7% for Remain,

Meanwhile, in the foreign exchange market, the rupee dropped below 68 mark against the dollar. The partially convertible rupee was hovering at 68.16, compared with its close of 67.25 during the previous trading session. A weak rupee boosts revenue of IT firms in rupee terms as the sector derives a lions share of revenue from exports.

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Bank of India gains after raising capital
Jun 23,2016

The announcement was made during market hours today, 23 June 2016.

Meanwhile, the S&P BSE Sensex was up 238.24 points or 0.89% at 26,996.96.

On BSE, so far 4.82 lakh shares were traded in the counter as against average daily volume of 6.56 lakh shares in the past one quarter. The stock hit high of Rs 96.80 and low of Rs 95.45 so far during the day. The stock had hit a 52-week high of Rs 187.75 on 17 August 2015. The stock had hit a 52-week low of Rs 78.60 on 25 May 2016. The stock had outperformed the market over the past one month till 22 June 2016, rising 17.6% compared with Sensexs 5.79% rise. The scrip had, however, underperformed the market in past one quarter, declining 2.45% as against Sensexs 5.67% rise.

The mid-cap state-run bank has equity capital of Rs 934.03 crore. Face value per share is Rs 10.

Bank of India said that the bonds have been rated AA- by Brickwork and A+ by CRISIL and bear coupon rate of 11.5% per annum.

Bank of India reported a net loss of Rs 3587.09 crore in Q4 March 2016, higher than net loss of Rs 56.14 crore in Q4 March 2015. The banks total income fell 7.3% to Rs 11384.91 crore in Q4 March 2016 over Q4 March 2015.

The Government of India held 70.33% stake in Bank of India (as per the shareholding pattern as on 4 May 2016).

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Sharon Bio-Medicine extends rally
Jun 23,2016

Meanwhile, the S&P BSE Sensex was up 227.25 points or 0.85% at 26,992.90.

On BSE, so far 10.07 lakh shares were traded in the counter as against average daily volume of 1.34 lakh shares in the past one quarter. The stock hit a high of Rs 13.40 and a low of Rs 11.65 so far during the day. The stock had hit a 52-week high of Rs 32.55 on 16 December 2015. The stock had hit a 52-week low of Rs 8.40 on 2 June 2016. The stock had underperformed the market over the past one month till 22 June 2016, advancing 3.57% compared with Sensexs 5.79% rise. The scrip had also underperformed the market in past one quarter, gaining 0.61% as against Sensexs 5.67% rise.

The small-cap company has equity capital of Rs 23.79 crore. Face value per share is Rs 2.

Shares of Sharon Bio-Medicine have rallied 31.68% in two trading sessions from its close of Rs 9.69 on 21 June 2016, after the company after market hours on 21 June 2016, announced that its board has decided to introduce more profitable products and increase capacity utilization. The stock surged by the maximum permissible level of 20% to settle at Rs 11.62 yesterday, 22 June 2016.

Sharon Bio-Medicines board of directors at its meeting held on 21 June 2016, discussed the current financial position of the company and decided to introduce more profitable products, increase capacity utilization and get the business to move in the regulated markets specifically the United States of America.

On consolidated basis, Sharon Bio-Medicine reported net loss of Rs 153.73 crore in Q3 March 2016, higher than net loss of Rs 56.43 crore in Q3 March 2015. Net sales declined 72.6% to Rs 35.77 crore in Q3 March 2016 over Q3 March 2015.

Sharon Bio-Medicine is engaged in manufacture of intermediates, active pharmaceutical ingredients (API) and finished dosage forms

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Jain Irrigation surges on foreign brokerage upgrade
Jun 23,2016

Meanwhile, the S&P BSE Sensex was up 188.79 points or 0.71% at 26,954.44.

On BSE, so far 10.45 lakh shares were traded in the counter as against average daily volume of 4.67 lakh shares in the past one quarter. The stock hit a high of Rs 71.55 and a low of Rs 69.40 so far during the day. The stock had hit a 52-week high of Rs 79 on 23 July 2015. The stock had hit a 52-week low of Rs 47 on 17 February 2016. The stock had underperformed the market over the past one month till 22 June 2016, advancing 4.69% compared with Sensexs 5.79% rise. The scrip had, however, outperformed the market in past one quarter, surging 18.3% as against Sensexs 5.67% rise.

The mid-cap company has equity capital of Rs 91.44 crore. Face value per share is Rs 2.

The foreign brokerage reportedly expects a 70% compound annual growth rate (CAGR) in earnings of Jain Irrigation Systems (JISL) over FY 2017-19. The brokerage reportedly stated that leverage has been a key concern for investors, but the company has now recapitalised its balance sheet with lower interest costs which is expected to boost its earnings. The foreign brokerage also cited other favorable factors for the company such as expectation of a better monsoon and an increasing central & state government thrust on micro irrigation systems (MIS) after two consecutive years of drought.

On consolidated basis, Jain Irrigation Systems net profit fell 8.9% to Rs 89.78 crore on 1% decline in net sales to Rs 1988.99 crore in Q4 March 2016 over Q4 March 2015.

Jain Irrigation Systems is engaged in manufacturing of micro irrigation systems, PVC pipes, HDPE pipes, plastic sheets, agro processed products, renewable energy solutions, tissue culture plants, financial services and other agricultural inputs.

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Sun Pharma gains ahead of board meet to consider share buyback
Jun 23,2016

Meanwhile, the S&P BSE Sensex was up 64.23 points or 0.24% at 26,789.83.

On BSE, so far 3.09 lakh shares were traded in the counter as against average daily volume of 5.33 lakh shares in the past two weeks. The stock hit a high of Rs 757.40 and a low of Rs 742.35 so far during the day. The stock had hit a 52-week high of Rs 965.15 on 20 August 2015. The stock had hit a 52-week low of Rs 706.40 on 24 November 2015. The stock had underperformed the market over the past one month till 22 June 2016, falling 6.58% compared with Sensexs 5.79% rise. The scrip had also underperformed the market in past one quarter, declining 12.34% as against Sensexs 5.67% rise.

The large-cap company has equity capital of Rs 240.68 crore. Face value per share is Rs 1.

Sun Pharmaceutical Industries (Sun Pharma) consolidated net profit rose 92.7% to Rs 1713.69 crore on 21.5% growth in net sales to Rs 7413.87 crore in Q4 March 2016 over Q4 March 2015.

Sun Pharmaceutical Industries is a specialty generic pharmaceutical company and Indias top pharmaceutical company.

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Volumes jump at Asian Hotels (North) counter
Jun 23,2016

Asian Hotels (North) clocked volume of 5.72 lakh shares by 13:37 IST on BSE, a 6814.1-times surge over two-week average daily volume of 84 shares. The stock surged 16.19% at Rs 122.

Hexaware Technologies notched up volume of 8.80 lakh shares, a 10.54-fold surge over two-week average daily volume of 84,000 shares. The stock was up 4.79% at Rs 232.10.

Opto Circuits (India) saw volume of 56.89 lakh shares, a 9.5-fold surge over two-week average daily volume of 5.99 lakh shares. The stock jumped 17.12% at Rs 10.67.

Jyothy Laboratories clocked volume of 6.45 lakh shares, a 7.77-fold surge over two-week average daily volume of 83,000 shares. The stock was down 0.22% at Rs 297.

ACC saw volume of 1 lakh shares, a 7.57-fold rise over two-week average daily volume of 13,000 shares. The stock was up 0.31% at Rs 1,572.

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Most IT stocks drop ahead of Brexit referendum
Jun 23,2016

Meanwhile, the S&P BSE Sensex was up 7.69 points or 0.03% at 26,773.34.

TCS (down 1.29%), MphasiS (down 1.03%), HCL Technologies (down 0.59%), Tech Mahindra (down 0.75%), Oracle Financial Services Software (down 0.55%), Wipro (down 0.24%) and Infosys (down 0.33%) edged lower. Persistent Systems (up 0.63%), MindTree (up 0.99%) and Hexaware Technologies (up 4.58%) edged higher. The UK is the second biggest IT outsourcing market after the United States for the IT companies.

Brexit refers to the referendum by British voters today, 23 June 2016 to decide whether the country should remain a member of the European Union or leave it. The Brexit voting will close at 10 p.m. London time. Referendum results from the first counting areas are expected around 12:30 a.m. London time on Friday, 24 June 2016. The vote pits the Remain campaign, backed by British Prime Minister David Cameron and Labour Party leader Jeremy Corbon, against the Leave camp, led by the former London mayor, MP Boris Johnson. The latest opinion polls ahead of the Brexit referendum on European Union membership suggested that the remain camp is gaining momentum. On the eve of the historic vote, two polls - both conducted over the internet - put the Leave camp ahead by one or two percent. But a telephone poll gave Remain a sizeable lead of 48%, ahead of Leave with 42%, report said.

If the UK votes to leave the EU, it could send British pound and euro tumbling, with ripple effects across global asset classes.

The BSE IT index had underperformed the market over the past one month till 22 June 2016, advancing 2.84% compared with Sensexs 5.79% rise. The index had also underperformed the market in past one quarter, gaining 2.6% as against Sensexs 5.67% rise.

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Five stocks drop ex-dividend
Jun 23,2016

Meanwhile, the S&P BSE Sensex was up 61.98 points or 0.23% at 26,827.63.

Tamboli Capital lost 4.93% to Rs 55 as the stock turned ex-dividend today, 23 June 2016, for dividend of Rs 0.60 per share for the year ended 31 March 2016. Before turning ex-dividend, the stock offered a dividend yield of 1.03% based on the closing price of Rs 57.85 on BSE yesterday, 22 June 2016.

Maan Aluminium lost 4.76% to Rs 31 as the stock turned ex-dividend today, 23 June 2016, for final dividend of Rs 0.50 per share for the year ended 31 March 2016. Before turning ex-dividend, the stock offered a dividend yield of 1.53% based on the closing price of Rs 32.55 on BSE yesterday, 22 June 2016.

Voith Paper Fabrics India lost 1.99% to Rs 553.55 as the stock turned ex-dividend today, 23 June 2016, for dividend of Rs 4 per share for the year ended 31 March 2016. Before turning ex-dividend, the stock offered a dividend yield of 0.7% based on the closing price of Rs 564.80 on BSE yesterday, 22 June 2016.

Welspun Corp lost 0.83% to Rs 83.30 as the stock turned ex-dividend today, 23 June 2016, for dividend of Rs 0.50 per share for the year ended 31 March 2016. Before turning ex-dividend, the stock offered a dividend yield of 0.59% based on the closing price of Rs 84 on BSE yesterday, 22 June 2016.

Indian Bank lost 0.81% to Rs 134.05 as the stock turned ex-dividend today, 23 June 2016, for dividend of Rs 1.50 per share for the year ended 31 March 2016. Before turning ex-dividend, the stock offered a dividend yield of 1.1% based on the closing price of Rs 135.15 on BSE yesterday, 22 June 2016.

IndusInd Bank was up 0.97% at Rs 1,099.60. The stock turned ex-dividend today, 23 June 2016, for dividend of Rs 4.50 per share for the year ended 31 March 2016 (FY 2016). Before turning ex-dividend, the stock offered a dividend yield of 0.41% based on the closing price of Rs 1,089.05 on BSE yesterday, 22 June 2016.

Welspun India was up 0.94% to Rs 107. The stock turned ex-dividend today, 23 June 2016, for final dividend of Rs 0.05 per share for the year ended 31 March 2016. Before turning ex-dividend, the stock offered a dividend yield of 0.04% based on the closing price of Rs 106.70 on BSE yesterday, 22 June 2016.

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Hindusthan National Glass drops after selling wholly owned subsidiary
Jun 23,2016

The announcement was done during market hours today, 23 June 2016.

Meanwhile, the BSE Sensex was down 11.71 points, or 0.04%, to 26,753.94.

On BSE, so far 652 shares were traded in the counter, compared with an average volume of 2,087 shares in the past one quarter. The stock hit a high of Rs 84.65 and a low of Rs 77.10 so far during the day. The stock hit a 52-week high of Rs 119 on 28 July 2015. The stock hit a 52-week low of Rs 57.15 on 12 February 2015. The scrip had underperformed the market in past one quarter, rising 0.57% as against Sensexs 5.67% rise.

The small-cap company has an equity capital of Rs 17.47 crore. Face value per share is Rs 2.

Hindusthan National Glass & Industries said that it will receive 23 million Euro from the divestment in HNG Global GmbH. The subsidiary was sold to a large glass container manufacturing group in Europe. The buyer wants to keep its name confidential, company added. The expected date of completion of sale is 15 July 2016.

HNG Global GmbH has posted turnover of Rs 276 crore during the year ended 31 March 2016 (FY 2016) and contributed 12% to the total consolidated revenue of the company.

Hindusthan National Glass & Industries reported net profit of Rs 8.59 crore in Q4 March 2016 compared with net loss of Rs 77.27 crore in Q4 March 2015. Net sales rose 0.8% to Rs 571.42 crore in Q4 March 2016 over Q4 March 2015.

Hindusthan National Glass & Industries was founded by C K Somany in 1946 following the commissioning of Indias first fully automated glass manufacturing plant at Rishra (near Kolkata). At present, it is a key player in Indias container glass industry with a pan India presence and its plants located at Rishra, Bahadurgarh, Rishikesh, Neemrana, Nashik and Puducherry.

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SRS gains after boards nod for stock split
Jun 23,2016

The announcement was made after market hours yesterday, 22 June 2016.

Meanwhile, the S&P BSE Sensex was down 13.39 points or 0.05% at 26,752.26.

On BSE, so far 3.11 lakh shares were traded in the counter as against average daily volume of 1.63 lakh shares in the past one quarter. The stock hit a high of Rs 10.70 and a low of Rs 10 so far during the day. The stock had hit a 52-week high of Rs 27 on 1 December 2015. The stock had hit a record low of Rs 8.51 on 6 June 2016. The stock had underperformed the market over the past one month till 22 June 2016, advancing 3.67% compared with Sensexs 5.79% rise. The scrip had also underperformed the market in past one quarter, declining 17.58% as against Sensexs 5.67% rise.

The small-cap company has equity capital of Rs 278.58 crore. Face value per share is Rs 10.

SRS reported net loss of Rs 17.31 crore in Q4 March 2016, compared with net profit of Rs 1.20 crore in Q4 March 2015. Net sales declined 48.9% to Rs 511.11 crore in Q4 March 2016 over Q4 March 2015.

SRS is a diversified company having a presence in cinema exhibition, hotels, jewellery, retail and FMCG (cash & carry) businesses.

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