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Equitas Holdings sees strong debut on bourses
Apr 21,2016

The stock debuted at Rs 144, a premium of 30.90% to the initial public offer (IPO) price. So far the stock hit a high of Rs 147 and low of Rs 136.55. On BSE, 1.43 crore shares were traded on the counter.

The Reserve Bank of India (RBI) notified yesterday, 20 April 2016, that the aggregate investment ceiling in Equitas Holdings for foreign institutional investors (FIIs)/foreign portfolio investors (FPIs) under portfolio investment scheme shall remain at 24%; non-resident Indians (NRI) at 10% and total foreign investment from all sources i.e. global depository receipts (GDR)/American depository receipts (ADR)/foreign direct investment (FDI)/foreign institutional investors (FIIs)/registered foreign portfolios investors (RFPIs)/non-resident Indians (NRIs)/persons of Indian origin (PIOs) shall not exceed 49%.

The initial public offer (IPO) of Equitas Holdings ended on 7 April 2016 with bids for a total of 239.59 crore shares, compared with 13.91 crore equity shares on offer, as per data from the National Stock Exchange (NSE) website. The IPO was subscribed 17.21 times.

The qualified institutional buyers (QIBs) category was subscribed 14.93 times. The non-institutional investors category, made up of high net worth individuals, was subscribed 57.29 times. The retail individual investors category was subscribed 1.40 times.

Equitas Holdings raised Rs 652.18 crore by selling 5.92 crore shares to a total of 63 anchor investors ahead of the opening of the companys IPO. The shares were allotted to the anchor investors at Rs 110 per share, the top end of the Rs 109 to Rs 110 per share price band for the IPO.

Among the anchor investors, PI Opportunities Fund I was allotted 53.60 lakh shares, HDFC Standard Life Insurance Company was allotted 36.34 lakh shares, ICICI Prudential Banking and Financial Services Fund was allotted 23.99 lakh shares. Other investors include, Franklin Templeton Asset Management (India), Tata AIA Life Insurance Co, Sundaram Asset Management Co, Birla Sunlife Trustee Co and SBI Funds Management, among others.

The IPO of Chennai-based micro finance lender Equitas Holdings opened for bidding on 5 April 2016. The IPO comprised of fresh issue of shares aggregating up to Rs 720 crore and offer for sale of up to 13.24 crore equity shares by existing shareholders. The price band for the IPO was set at Rs 109-110 per share. Bidding for the IPO through the book-building route concluded on 7 April 2016.

Equitas Holdings intends to use the proceeds of the fresh issue to augment the capital base of its three wholly owned subsidiaries which are engaged in the business of micro finance, vehicle finance and MSE (micro and small enterprises) finance and housing finance. Equitas Holdings will pump in Rs 288 crore each in Equitas Micro Finance (EMFL) and Equitas Finance (EFL) and Rs 40 crore in Equitas Housing Finance (EHFL). EMFL is a wholly owned subsidiary of Equitas Holdings and is involved in the business of micro finance lending. EFL is a wholly owned subsidiary of Equitas Holdings and is involved in the business of providing vehicle finance and MSE finance. EHFL is a wholly owned subsidiary of Equitas Holdings and is involved in the business of providing housing finance.

Equitas Holdings is a diversified financial service provider focused on individuals and micro and small enterprises (MSEs) that are underserved by formal financing channels. The company offers a range of financial products and services including microfinance, used commercial vehicle finance, MSE finance and housing finance. The focus customer segment includes low-income groups and economically weaker individuals operating small businesses, as well as MSEs with limited access to formal financing channels.

As on 31 December 2015, Equitas Holdings operations were spread across 11 states, one union territory and the NCT of Delhi with a total of 539 branches. Equitas Holdings has received in-principle approval from the Reserve Bank of India (RBI) to set up a small finance bank (SFB). The company intends to leverage its large branch network and large customer base across India to develop SFB operations.

Based on consolidated financials, Equitas Holdings reported net profit of Rs 120.36 crore on revenue from operations of Rs 791.34 crore for 9 months ended December 2015. The company reported net profit of Rs 106.62 crore on revenue from operations of Rs 755.06 crore for the year ended 31 March 2015 (FY 2015).

The companys gross non-performing assets (NPA) as a percentage of On-Book assets under management (AUM) stood at 1.33% as on 31 December 2015. The net NPA stood at 0.97% as on 31 December 2015.

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VST Inds gains after good Q4 earnings
Apr 21,2016

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

Meanwhile, the S&P BSE Sensex was up 153.12 points or 0.59% at 25,997.30.

On BSE, so far 1,331 shares were traded in the counter as against average daily volume of 917 shares in the past one quarter. The stock hit a high of Rs 1,837 and a low of Rs 1,670.85 so far during the day. The stock had hit a 52-week high of Rs 1,845.75 on 17 November 2015. The stock had hit a 52-week low of Rs 1,400 on 25 August 2015. The stock had outperformed the market over the past one month till 20 April 2016, gaining 4.37% compared with the Sensexs 3.57% rise. The scrip, however, underperformed the market in past one quarter, advancing 5.31% as against Sensexs 7.41% rise.

The small-cap company has equity capital of Rs 15.44 crore. Face value per share is Rs 10.

VST Industries principal activities are manufacturing and selling cigarettes and unmanufactured tobacco.

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Tide Water Oil (India) gains after acquiring UK-based lubricant maker
Apr 21,2016

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

Meanwhile, the BSE Sensex was up 211.42 points, or 0.82%, to 26,055.60.

On BSE, so far 1,684 shares were traded in the counter, compared with an average volume of 2,181 shares in the past one quarter. The stock hit a high of Rs 6,580 and a low of Rs 6,360 so far during the day. The stock hit a record high of Rs 8,317.25 on 7 January 2016. The stock hit a 52-week low of Rs 3,400 on 8 June 2015. The stock had underperformed the market over the past one month till 20 April 2016, sliding 7.58% compared with 3.57% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 8.42% as against Sensexs 7.41% rise.

The small-cap company has an equity capital of Rs 1.74 crore. Face value per share is Rs 5.

Price Thomas Holdings (PTHL) was incorporated on 14 May 1998. PTHL along with its subsidiary is a manufacturer and supplier of lubricants & car care products in the UK and few overseas automative markets. It is a small sized company and has operations primarily in UK. Apart from UK, PTHL exports its products to Ireland, Sweden and Bulgaria. PTHL registered profit before tax (PBT) of GBP 0.87 million on gross revenue of GBP 10.92 million for the year ended 31 December 2014. No governmental or regulatory approvals are required for the acquisition as it falls within automatic approval route of Reserve Bank of India (RBI) policy. The share purchase agreement has been signed on 19 April 2016. The post acquisition formaliities are expected to conclude shortly. The proposed acquisition is envisaged to result in competitive product pricing of Tide Water Oil in the European market.

Tide Water Oil (India)s net profit jumped 86.5% to Rs 26.33 crore on 4.8% growth in net sales to Rs 245.75 crore in Q3 December 2015 over Q3 December 2014.

Tide Water Oil is one of the leading players in the Indian lubricant industry. It manufactures and markets Veedol brand of lubricants.

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Strong Q4 earnings boost Jay Bharat Maruti
Apr 21,2016

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

Meanwhile, the S&P BSE Sensex was up 227.17 points or 0.88% at 26,071.35.

On BSE, so far 10,000 shares were traded in the counter as against average daily volume of 2,836 shares in the past two weeks. The stock hit a high of Rs 154 and a low of Rs 148.70 so far during the day. The stock had hit a record high of Rs 184.40 on 4 January 2016. The stock had hit a 52-week low of Rs 114 on 12 February 2016.

The small-cap company has equity capital of Rs 10.83 crore. Face value per share is Rs 5.

Jay Bharat Maruti is engaged in the business of manufacturing of components for automobiles. The company mainly caters to the needs of its joint venture partner viz. Maruti Suzuki India.

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Stone India spurts after bagging new order
Apr 21,2016

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

Meanwhile, the BSE Sensex was up 194 points, or 0.75%, to 26,038.18.

On BSE, so far 62,000 shares were traded in the counter, compared with an average volume of 48,552 shares in the past one quarter. The stock hit a high of Rs 83.90 and a low of Rs 80 so far during the day. The stock hit a 52-week high of Rs 105.40 on 5 January 2016. The stock hit a 52-week low of Rs 41.10 on 3 June 2015. The stock had outperformed the market over the past one month till 20 April 2016, rising 26.15% compared with 3.57% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 3.77% as against Sensexs 7.41% rise.

The small-cap company has an equity capital of Rs 9.60 crore. Face value per share is Rs 10.

Stone India said that it has bagged on 20 April 2016 an order for supply & installation of 9,090 units of bio-toilets to Government of Chattisgarh valuing Rs 28.70 crore via its business associate, Cranberry Westlink T & D Inc. This is the single largest order of bio toilets for Stone India.

Stone India reported net loss of to Rs 1.93 crore in Q3 December 2015 as against net loss of Rs 2.23 crore in Q3 December 2014. Net sales rose 2.18% to Rs 19.24 crore in Q3 December 2015 over Q3 December 2014.

Stone India is a multi-product engineering company located in Kolkata.

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Wipro slumps after announcing weak Q4 numbers
Apr 21,2016

The results are as per International Financial Reporting Standards (IFRS). The result was announced after market hours yesterday, 20 April 2016.

Meanwhile, the S&P BSE Sensex was up 227.69 points or 0.88% at 26,071.87.

On BSE, so far 57,000 shares were traded in the counter as against average daily volume of 2.67 lakh shares in the past two weeks. The stock hit a high of Rs 578 and a low of Rs 568.50 so far during the day. The stock had hit a 52-week low of Rs 508.90 on 29 February 2016. The stock had hit a 52-week high of Rs 613 on 1 October 2015.

The large-cap company has equity capital of Rs 494.14 crore. Face value per share is Rs 2.

Revenue from IT services business rose 2.4% to $1,882 million in Q4 March 2016 over Q3 December 2015. On sequential basis, the company expects 1% to 3.02% growth in revenue from IT services business at between $1,901 million to $1,939 million in Q1 June 2016.

On an annualized basis, the employee attrition rate dropped to 14.9% in Q4 March 2016 from 16.3% in Q3 December 2015.

Wipros board of directors approved a proposal to buyback up to 4 crore equity shares of the company for an aggregate amount of up to Rs 2500 crore, being 1.62% of the total paid up equity share capital. The buyback will be through the tender offer route at Rs 625 per share. The promoters of the company have indicated their intention to participate in the proposed buyback.

Wipro is a leading information technology, consulting and business process services company.

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Bharti Infratel slips on report Bharti Airtel to sell stake
Apr 20,2016

Meanwhile, the BSE Sensex was up 4.31 points, or 0.02%, to 25,820.67 .

On BSE, so far 48,000 shares were traded in the counter, compared with an average volume of 60,976 shares in the past one quarter. The stock hit a high of Rs 396.45 and a low of Rs 384.15 so far during the day. The stock hit a record high of Rs 505 on 29 May 2015. The stock hit a 52-week low of Rs 341.60 on 29 September 2015. The stock had outperformed the market over the past one month till 18 April 2016, rising 3.92% compared with 3.46% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 5.31% as against Sensexs 6.73% rise.

The large-cap company has an equity capital of Rs 1896.67 crore. Face value per share is Rs 10.

Bharti Airtel owns a 71.7% stake in Bharti Infratel (as on 31 December 2015). Bharti Airtel plans to use the sale proceeds to cut debt, media reports suggested. The report did not give a timeline for the planned sale.

On a consolidated basis, net profit of Bharti Infratel rose 11.54% to Rs 565.40 crore on 4.89% rise in net sales to Rs 3093 crore in Q3 December 2015 over Q3 December 2014.

Bharti Infratel is Indias leading provider of tower and related infrastructure and it deploys, owns and manages telecom towers and communication structures, for various mobile operators.

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TV18 Broadcast spurts after announcing Q4 results
Apr 20,2016

The result was announced during market hours today, 20 April 2016.

Meanwhile, the S&P BSE Sensex was up 23.15 points or 0.09% at 25,839.51.

Heavy volumes accompanied the surge in the stock. On BSE, so far 27.45 lakh shares were traded in the counter as against average daily volume of 4.98 lakh shares in the past one quarter. The stock hit a high of Rs 40.35 and a low of Rs 36.60 so far during the day. The stock had hit a 52-week high of Rs 48.95 on 28 December 2015. The stock had hit a 52-week low of Rs 28.75 on 7 September 2015. The stock had underperformed the market over the past one month till 18 April 2016, sliding 6.34% compared with Sensexs 3.46% rise. The scrip had also underperformed the market in past one quarter, declining 6.69% as against Sensexs 6.73% rise.

The mid-cap company has equity capital of Rs 342.87 crore. Face value per share is Rs 2.

Lower non-operational income (other income) during the quarter pulled down TV18 Broadcasts bottom line. Other income declined 62.37% to Rs 10.81 crore in Q4 March 2016 over Q4 March 2015.

TV18 Broadcast telecasts and produces news and current affairs programmes.

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Tata Steel extends intraday gains
Apr 20,2016

Meanwhile, the S&P BSE Sensex was up 17.95 points or 0.07% at 25,834.31.

On BSE, so far 20.14 lakh shares were traded in the counter as against average daily volume of 12.42 lakh shares in the past one quarter. The stock hit a high of Rs 358.25 and a low of Rs 337 so far during the day. The stock had hit a 52-week high of Rs 384.20 on 6 May 2015. The stock had hit a 52-week low of Rs 200 on 29 September 2015. The stock had outperformed the market over the past one month till 18 April 2016, rising 10.93% compared with 3.46% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 41.8% as against Sensexs 6.73% rise.

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

According to media reports, Stuart Wilkie, Managing Director of Tata Strip Products UK, is heading up a buying team alongside other staff members. Reports suggested that Port Talbot is Tata Steels biggest UK plant with about 4,000 workers.

Meanwhile, media reports suggested that a foreign brokerage has initiated coverage on Indian steel sector and assigned outperform rating on Tata Steel along with two other stocks. The brokerage reportedly cited factors such as bottoming out of inventory cycle, weakness in dollar and China demand stimulus among positives for the steel sector.

Tata Steel after market hours Monday, 18 April 2016, announced changes in leadership at Tata Steel UK. Bimlendra Jha, an Executive Committee member of Tata Steel Europe has been appointed as the Chief Executive Officer of Tata Steel UK. Jha is currently Executive Chairman of Tata Steel Europes Long Products Europe business and has successfully led the divestment process that resulted in the signing of a sale and purchase agreement with Greybull Capital on 11 April 2016.

Meanwhile, Tata Steel Europe has appointed Standard Chartered Bank as an additional adviser for the divestment of its entire holding in its British subsidiary Tata Steel UK. On 11 April 2016, Tata Steel Europe announced that the company has commenced the formal process for the divestment of its entire holding in its British subsidiary Tata Steel UK. Tata Steel Europe has decided to sell its entire holding in Tata Steel UK due to the deteriorating financial performance of the UK subsidiary.

On consolidated basis, Tata Steel reported net loss of Rs 2127.23 crore in Q3 December 2015 as against net profit of Rs 157.11 crore in Q3 December 2014. Net sales declined 16.5% to Rs 27818.73 crore in Q3 December 2015 over Q3 December 2014.

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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Supreme Petrochem hits record high after strong Q3 earnings
Apr 20,2016

The result was announced during market hours today, 20 April 2016.

Meanwhile, the S&P BSE Sensex was up 1.42 points or 0.01% at 25,817.78.

The stock surged on heavy volumes. On BSE, so far 9.29 lakh shares were traded in the counter as against average daily volume of 29,052 shares in the past one quarter. The stock hit a high of Rs 151.20 so far during the day, which is a record high for the counter. The stock hit a low of Rs 133.90 so far during the day. The stock had hit a 52-week low of Rs 67.10 on 20 April 2015. The stock had outperformed the market over the past one month till 18 April 2016, gaining 16.33% compared with Sensexs 3.46% rise. The scrip had also outperformed the market in past one quarter, advancing 34.95% as against Sensexs 6.73% rise.

The small-cap company has equity capital of Rs 96.50 crore. Face value per share is Rs 10.

Supreme Petrochem is the leader in polystyrene business in the Indian market place. The company is also the largest exporter of polystyrene from India. Polystyrene is widely employed in the food-service industry as rigid trays and containers, disposable eating utensils, and foamed cups, plates, and bowls.

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AC makers extend recent gains
Apr 20,2016

Hitachi Home and Life Solutions (India) (up 9.79%), Lloyd Electric and Engineering (up 3.72%), Voltas (up 3.35%), Blue Star (up 1.03%), Videocon Industries (up 0.93%) and Whirlpool of India (up 0.88%), edged higher.

Air cooler maker Symphony was down 0.51%.

The S&P BSE Sensex was down 11.88 points, or 0.05% at 25,804.48.

On Monday, 18 April 2016, Blue Star, Hitachi Home and Life Solutions (India), Lloyd Electric and Engineering, Symphony, Voltas and Whirlpool of India rose by between 0.12% to 17.42%.

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Bulk buying from Morgan Stanley boosts Zee Learn
Apr 20,2016

Meanwhile, the S&P BSE Sensex was down 12.64 points or 0.05% at 25,803.72.

On BSE, so far 1.07 lakh shares were traded in the counter as against average daily volume of 54,439 shares in the past one quarter. The stock hit a high of Rs 31.25 and a low of Rs 30.25 so far during the day. The stock had hit a 52-week high of Rs 46.80 on 4 December 2015. The stock had hit a 52-week low of Rs 28.65 on 25 February 2016. The stock had underperformed the market over the past one month till 18 April 2016, sliding 3.1% compared with Sensexs 3.46% rise. The scrip had also underperformed the market in past one quarter, advancing declining 9.6% as against Sensexs 6.73% rise.

The small-cap company has equity capital of Rs 32.06 crore. Face value per share is Rs 1.

Morgan Stanley Asia Singapore Pte bought 24.45 lakh shares of Zee Learn at Rs 30 per share in a bulk deal on the NSE on 18 April 2016. On the same day, it had also purchased 21.45 lakh shares at Rs 30 per share in a bulk deal on the BSE.

Zee Learns net profit rose 108.3% to Rs 2.27 crore on 12.3% growth in net sales to Rs 22.29 crore in Q3 December 2015 over Q3 December 2014.

Zee Learn is one of the Indias leading companies in education segment.

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Volumes jump at PNC Infratech counter
Apr 20,2016

PNC Infratech clocked volume of 1.50 lakh shares by 12:44 IST on BSE, a 227.78-times surge over two-week average daily volume of 1,000 shares. The stock was flat at Rs 532.

Linde India notched up volume of 2.81 lakh shares, a 157.38-fold surge over two-week average daily volume of 2,000 shares. The stock rose 0.59% to Rs 271.15.

Bayer CropScience saw volume of 26,000 shares, a 57.83-fold surge over two-week average daily volume of 443 shares. The stock fell 1.15% to Rs 3,703.

CRISIL clocked volume of 31,000 shares, a 25.28-fold surge over two-week average daily volume of 1,000 shares. The stock rose 9.12% to Rs 2,164.20 after consolidated net profit rose 39.55% to Rs 78.60 crore on 18.61% growth in total income to Rs 368.57 crore in Q1 March 2016 over Q1 March 2015. The result was announced on Tuesday, 19 April 2016, when the stock market was closed for a holiday.

Hitachi Home & Life Solutions India saw volume of 58,000 shares, a 10.87-fold rise over two-week average daily volume of 5,000 shares. The stock rose 9.63% to Rs 1,536.70.

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Nalco drops after postponement of board meeting to consider buyback
Apr 20,2016

The announcement was made yesterday, 19 April 2016, when the stock market was closed for a holiday.

Meanwhile, the S&P BSE Sensex was down 1.99 points or 0.01% at 25,814.37.

On BSE, so far 3.77 lakh shares were traded in the counter as against average daily volume of 2.14 lakh shares in the past one quarter. The stock hit a high of Rs 44.10 and a low of Rs 42.50 so far during the day. The stock had hit a 52-week high of Rs 50.90 on 12 May 2015. The stock had hit a 52-week low of Rs 28 on 25 August 2015. The stock had outperformed the market over the past one month till 18 April 2016, surging 13.28% compared with Sensexs 3.46% rise. The scrip had also outperformed the market in past one quarter, advancing 31.01% as against Sensexs 6.73% rise.

The large-cap company has equity capital of Rs 1288.62 crore. Face value per share is Rs 5.

National Aluminium Company (Nalco) said that the new date of board meeting will be informed in due course.

Nalcos net profit fell 62.3% to Rs 133.49 crore on 13.9% decline in net sales to Rs 1615.97 crore in Q3 December 2015 over Q3 December 2014.

State-run Nalco has integrated and diversified operations in mining, metal and power. The Government of India (GoI) held 80.93% stake in the company (as per the shareholding pattern as on 31 March 2016).

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Skipper gains after securing new orders
Apr 20,2016

The announcement was made during trading hours today, 20 April 2016.

Meanwhile, the BSE Sensex was down 39.09 points, or 0.15%, to 25,777.27 .

On BSE, so far 1.26 lakh shares were traded in the counter, compared with an average volume of 39,845 shares in the past one quarter. The stock hit a high of Rs 161.90 and a low of Rs 152 so far during the day. The stock hit a record high of Rs 219.90 on 6 January 2016. The stock hit a 52-week low of Rs 116 on 25 August 2015. The stock had outperformed the market over the past one month till 18 April 2016, rising 9.84% compared with 3.46% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 3.56% as against Sensexs 6.73% rise.

The small-cap company has an equity capital of Rs 10.23 crore. Face value per share is Re 1.

Skipper announced that it secured new orders worth approximately Rs 200 crore from Power Grid Corporation of India (PGCIL). The company said it is favourably placed for additional contracts worth Rs 300 crore from PGCIL. These orders are predominantly for 765 kilovolt double circuit transmission tower supply to various power grid projects and transmission line construction on turnkey basis.

Skippers net profit rose 9.6% to Rs 18.70 crore on 12.1% rise in net sales to Rs 361.57 crore in Q3 December 2015 over Q3 December 2014.

Skipper manufactures galvanized, polyvinyl chloride, solid, waste, and rain pipes, fittings, transmission and telecom towers, poles, scaffoldings, and hot rolled products.

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