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Telecom stocks edge higher on reports of lower SUC for upcoming spectrum auction
Jun 08,2016

Bharti Airtel (up 2.25% at Rs 357.15), Reliance Communications (up 1.96% at Rs 50.05), Mahanagar Telephone Nigam (up 0.8% at Rs 18.85) and Idea Cellular (up 0.38% at Rs 105.75) edged higher. Tata Teleservices (Maharashtra) (down 1.43% at Rs 6.23) edged lower.

Shares of Reliance Industries (RIL) were off 0.25% at Rs 952.25. Unlisted Reliance Jio Infocomm (RJIL) is a telecom arm of RIL.

Meanwhile, the S&P BSE Sensex was up 3.93 points or 0.01% at 27,013.60.

According to reports, the Telecom Commission (TC) lowered the annual spectrum usage charge (SUC) to 3% of revenue for all bands in the upcoming auction slated for July and brought the 4G airwaves purchased in 2010 under the ambit of a formula to calculate the overall fee for each carrier.

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Tata Motors hits 52-week high after large bulk deal
Jun 08,2016

Meanwhile, the S&P BSE Sensex was up 18.61 points or 0.07% at 27,028.28

Bulk deal boosted volume on the scrip. On BSE, so far 31.21 lakh shares were traded in the counter as against average daily volume of 7.01 lakh shares in the past one quarter. The stock hit a high of Rs 468.70 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 464.35 so far during the day. The stock had hit a 52-week low of Rs 266 on 11 February 2016. The stock had outperformed the market over the past one month till 7 June 2016, rising 16.14% compared with 7.06% gains in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 34.78% as against Sensexs 9.59% gains.

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

Shares of Tata Motors rose 0.5% to settle at Rs 463.05 yesterday, 7 June 2016 after the companys British luxury car unit Jaguar Land Rover reported an 18% increase in sales at 44,946 units in May 2016 over May 2015. The all-new Jaguar F-PACE helped propel Jaguar Land Rover (JLR) to its best ever sales in May. The announcement was made during market hours yesterday, 7 June 2016.

Tata Motors consolidated net profit jumped 201.6% to Rs 5177.06 crore on 19.9% growth in total income to Rs 81559.75 crore in Q4 March 2016 over Q4 March 2015.

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

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NMDC drops on profit booking
Jun 08,2016

The announcement was made after market hours yesterday, 7 June 2016.

Meanwhile, the S&P BSE Sensex was up 12.31 points or 0.05% at 27,021.98.

On BSE, so far 1.63 lakh shares were traded in the counter as against average daily volume of 2.72 lakh shares in the past two weeks. The stock hit a high of Rs 92.50 and a low of Rs 91 so far during the day. The stock had hit a 52-week high of Rs 122.60 on 9 June 2015. The stock had hit a 52-week low of Rs 75.20 on 12 February 2016.

Shares of NMDC had risen 6.01% in three trading sessions to settle at Rs 91.65 yesterday, 7 June 2016, from its close of Rs 86.45 on 2 June 2016.

NMDCs board of directors approved the companys buyback proposal of companys fully paid-up equity shares not exceeding 80.08 crore equity shares, representing 20.2% of the total number of equity shares in the paid-up share capital of the company and is not exceeding 25% of the total number of equity shares in the paid-up share capital of the company at a price of Rs 94 per share for an aggregate consideration not exceeding Rs 7527.75 crore. The board of directors noted the intention of the promoter of the company to participate in the proposed buyback.

NMDCs net profit fell 59% to Rs 552.93 crore on 45.9% decline in net sales to Rs 1529.94 crore in Q4 March 2016 over Q4 March 2015.

The Government of India (GoI) holds 80% stake in NMDC (as per the shareholding pattern as on 31 March 2016). NMDC is Indias single largest iron ore producer, presently producing about 30 million tonnes of iron ore from 3 fully mechanized mines.

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NMDC drops as buyback price disappoints
Jun 08,2016

The company announced the buyback price after market hours yesterday, 7 June 2016.

Meanwhile, the S&P BSE Sensex was up 12.31 points or 0.05% at 27,021.98.

On BSE, so far 1.63 lakh shares were traded in the counter as against average daily volume of 2.72 lakh shares in the past two weeks. The stock hit a high of Rs 92.50 and a low of Rs 91 so far during the day. The stock had hit a 52-week high of Rs 122.60 on 9 June 2015. The stock had hit a 52-week low of Rs 75.20 on 12 February 2016.

The stock had risen in the run up to the announcement of the details of the share buyback. The stock had risen 6.01% in three trading sessions to settle at Rs 91.65 yesterday, 7 June 2016, from its close of Rs 86.45 on 2 June 2016.

NMDC has announced buyback of 80.08 crore equity shares, representing 20.2% of the total number of equity shares in the paid-up share capital of the company at Rs 94 per share for an aggregate consideration not exceeding Rs 7527.75 crore. The buyback will be through the tender offer route. The Government of India (GoI) who is the promoter of the company intends to participate in the proposed buyback. GoI currently holds 80% stake in NMDC (as per the shareholding pattern as on 31 March 2016).

NMDCs net profit fell 59% to Rs 552.93 crore on 45.9% decline in net sales to Rs 1529.94 crore in Q4 March 2016 over Q4 March 2015.

NMDC is Indias largest iron ore producer, presently producing about 30 million tonnes of iron ore from 3 fully mechanized mines.

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Asian Granito hits record high
Jun 08,2016

The announcement was made after market hours yesterday, 7 June 2016.

Meanwhile, the S&P BSE Sensex was up 32.33 points or 0.12% at 27,042.

On BSE, so far 1.93 lakh shares were traded in the counter as against average daily volume of 14,000 shares in the past two weeks. The stock hit a high of Rs 199.75 so far during the day, which is a record high for the counter. The stock hit a low of Rs 187.20 so far during the day. The stock had hit a 52-week low of Rs 83 on 9 September 2015.

Asian Granito India (AGL) announced that it has a won a 12 lakh sq. meters order for its recently launched 1000x1000mm Jumbo Double Charge vitrified tiles and 800x800mm Imperio Double Charge vitrified tiles. Jumbo is AGLs first initiative to make such gigantic size through most eco-friendly double charge technology of the world, with the special type of fedders to provide regal designs, AGL said in a statement. Imperio Double Charged vitrified tile is blend of aesthetic look like digital tiles, the company said. The announcement was made after market hours yesterday, 7 June 2016.

Asian Granito Indias net profit rose 30.3% to Rs 5.67 crore on 4.6% decline in net sales to Rs 225.75 crore in Q4 March 2016 over Q4 March 2015.

Asian Granito India is one of the leading growing ceramic, vitrified tile, marble and quartz companies.

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GMR Infra advances as consortium bags Eastern dedicated freight corridor project
Jun 08,2016

The announcement was made after market hours yesterday, 7 June 2016.

Meanwhile, the S&P BSE Sensex was up 18.60 points or 0.07% at 27,028.27

On BSE, so far 6.47 lakh shares were traded in the counter as against average daily volume of 13.78 lakh shares in the past one quarter. The stock hit a high of Rs 12 and a low of Rs 11.80 so far during the day. The stock had hit a 52-week high of Rs 18.60 on 3 December 2015. The stock had hit a record low of Rs 9.58 on 4 September 2015.

The mid-cap company has equity capital of Rs 603.59 crore. Face value per share is Re 1.

GMR Infrastructure led consortium has been issued a letter of award for construction of 221-km long Eastern dedicated freight corridor railway project at a cost of Rs 2280.70 crore on EPC (engineering, procurement and construction) basis.

GMR Group is not required to provide significant investment for the project since it is implemented on EPC basis, GMR Infrastructure said. Earlier in April 2016, GMR led consortium emerged as the successful bidder amongst a total of six bidders for the project through an international competitive bidding process, the company said. The scope of work in the recently bagged project involves design and construction of civil, structures and track works for single/double line on design-build lump sum basis, it added.

The project funded by World Bank is divided into two packages. The first package comprises of 175 km single line connecting Sahnewal and Pilkhani that passes through Uttar Pradesh, Haryana and Punjab. The other package is a 46 km double line corridor in Uttar Pradesh connecting Dadri and Khurja.

GMR Infrastructures consolidated net loss stood at Rs 953.50 crore in Q4 March 2016, higher than consolidated net loss of Rs 891.90 crore in Q4 March 2015. Total income rose 26.3% to Rs 3828.68 crore in Q4 March 2016 over Q4 March 2015.

GMR Group is a leading global infrastructure conglomerate with interests in airports, energy, transportation and urban infrastructure. The group has fifteen power generation projects, nine operating road assets and a double rail track line of eastern dedicated freight corridor under development.

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L&T inches up after securing large contract
Jun 08,2016

The announcement was made after market hours yesterday, 7 June 2016.

Meanwhile, the S&P BSE Sensex was up 47.33 points or 0.18% at 27,057.

On BSE, so far 1,364 shares were traded in the counter as against average daily volume of 3.68 lakh shares in the past two weeks. The stock hit a high of Rs 1,501.80 and a low of Rs 1,491.95 so far during the day. The stock had hit a 52-week high of Rs 1,886.25 on 17 July 2015. The stock had hit a 52-week low of Rs 1,016.60 on 12 February 2016.

L&T announced that its construction arm along with its JV partner in Qatar, Al Balagh Trading & Contracting, has signed a contract to build a 40,000 seater stadium, as part of the sports infrastructure being readied by the Emirate in preparation of the 2022 Fifa World Cup. The contract for the project is for a combined value of $360 million for both JV partners and is slated to be completed by 2019. The scope for the stadium includes main works and construction of the site, following completion of the enabling works, L&T said in a statement. The announcement was made after market hours yesterday, 7 June 2016.

L&Ts consolidated net profit rose 18.6% to Rs 2453.64 crore on 17.6% rise in total income to Rs 33423.78 crore in Q4 March 2016 over Q4 March 2015.

L&T is a major Indian multinational engaged in technology, engineering, construction, manufacturing and financial services. It operates in more than 30 countries worldwide.

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Alkem Lab inches up after successful inspection of plant by UK health regulator
Jun 07,2016

The announcement was made during market hours today, 7 June 2016.

Meanwhile, the S&P BSE Sensex was up 247.78 points or 0.93% at 27,025.23.

On BSE, so far 63,000 shares were traded in the counter as against average daily volume of 8,898 shares in the past two weeks. The stock was volatile. The stock surged as much as 4.74% at the days high of Rs 1,425.80 so far during the day. The stock lost as much as 2.01% at the days low of Rs 1,333.75 so far during the day. The stock had hit a 52-week high of Rs 1,589 on 5 January 2016. The stock had hit a 52-week low of Rs 1,175 on 2 May 2016.

The UK Medicines and Healthcare Products Regulatory Agency (UK-MHRA) had inspected the bioequivalence facility at Taloja from 14 to 18 March 2016 and had notified its observations in a report dated 30 March 2016. The GCP Inspectorate has reviewed the corrective and preventive actions submitted by the company and has considered them acceptable, Alkem Laboratories said.

On consolidated basis, Alkem Laboratories net profit declined 56.87% to Rs 56.72 crore on 25.29% growth in net total income from operations to Rs 1142.58 crore in Q4 March 2016 over Q4 March 2015.

Alkem Laboratories is a leading Indian pharmaceutical company with global operations. The company is engaged in the development, manufacture and sale of pharmaceutical and nutraceutical products.

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Supreme Industries gains after bulk deal
Jun 07,2016

Meanwhile, the BSE Sensex was up 238.80 points, or 0.89%, to 27,016.25

Bulk deal boosted volume on the scrip. On BSE, so far 3.25 lakh shares were traded in the counter, compared with an average volume of 11,748 shares in the past one quarter. The stock hit a high of Rs 924 and a low of Rs 875 so far during the day. The stock hit a record high of Rs 999 on 31 May 2016. The stock hit a 52-week low of Rs 540 on 25 August 2015. The stock had outperformed the market over the past one month till 6 June 2016, rising 7.88% compared with 6.14% rise in the Sensex. The scrip also outperformed the market in past one quarter, advancing 16.6% as against Sensexs 8.65% rise.

The large-cap company has an equity capital of Rs 25.41 crore. Face value per share is Rs 2.

Supreme Industries consolidated net profit rose 12.1% to Rs 114.56 crore on 4.2% rise in net sales to Rs 1191.42 crore in Q3 March 2016 over Q3 March 2015.

Supreme Industries is Indias leading processors of plastics, offering a wide and comprehensive range of plastic products in India.

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Strides Shasun moves higher after securing EIR for a manufacturing site
Jun 07,2016

The announcement was made during market hours today, 7 June 2016.

Meanwhile, the S&P BSE Sensex was up 235.67 points or 0.88% at 27,013.12.

On BSE, so far 58,000 shares were traded in the counter as against average daily volume of 43,000 shares in the past two weeks. The stock hit a high of Rs 1,166.05 and a low of Rs 1,108 so far during the day. The stock had hit record high of Rs 1,412.45 on 23 November 2015. The stock had hit a 52-week low of Rs 848 on 29 February 2016.

Strides Shasun said that the companys oral dosage forms manufacturing site (KRS Gardens) in Bangalore which was inspected by the United States Food and Drug Administration (USFDA) in February 2016 has received the Establishment Inspection Report (EIR), thereby confirming the closure of the inspection. The facility continues to be USFDA approved, Strides Shasun said. This drug manufacturing facility in Bangalore manufactures oral dosage forms including tablets, capsules (both hard gelatine and soft gelatine). The manufacturing plant supports important current and future submissions for the US market.

Strides Shasuns consolidated net profit rose 744% to Rs 96.22 crore on 212.3% rise in net sales to Rs 961.20 crore in Q4 March 2016 over Q4 March 2015.

Strides Shasun is a pharmaceutical company with a key focus on development and manufacture of IP-led niche generics and bio-pharmaceuticals. It is also among the worlds largest manufacturers of specialty soft gelatin capsules.

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ICICI Bank advances as bank to seek shareholders approval for fund raising
Jun 07,2016

The announcement was made after market hours yesterday, 6 June 2016.

Meanwhile, the S&P BSE Sensex was up 292.85 points or 1.09% at 27,070.30

On BSE, so far 12.42 lakh shares were traded in the counter as against average daily volume of 14.12 lakh shares in the past one quarter. The stock hit a high of Rs 254.30 and a low of Rs 244.20 so far during the day. The stock had hit a 52-week low of Rs 180.80 on 26 February 2016. The stock had hit a 52-week high of Rs 321 on 17 July 2015. The stock had outperformed the market over the past one month till 6 June 2016, rising 11.55% compared with 6.14% rise in the Sensex. The scrip also outperformed the market in past one quarter, advancing 10.36% as against Sensexs 8.65% rise.

The large-cap private sector bank has equity capital of Rs 1163.25 crore. Face value per share is Rs 2.

ICICI Bank has scheduled its 22nd Annual General Meeting (AGM) of shareholders on Monday, 11 July 2016. During the AGM, the bank will seek approval from shareholders to raise up to Rs 25000 crore by way of issue of nonconvertible securities including but not limited to bonds and non-convertible debentures in one or more tranches on private placement basis during a period of one year from the date of passing of the resolution within the overall borrowing limits of the bank as approved by the members from time to time.

ICICI Banks net profit declined 76% to Rs 701.89 crore on 14.5% growth in total income to Rs 18590.86 crore in Q4 March 2016 over Q4 March 2015.

ICICI Bank is one of the leading private sector banks in India.

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ICICI Bank hogs limelight
Jun 07,2016

Shares of Axis Bank were off 0.3% at Rs 532.40.

Meanwhile, the S&P BSE Sensex was up 292.85 points or 1.09% at 27,070.30

On BSE, so far 12.42 lakh shares were traded in the ICICI Bank counter as against average daily volume of 14.12 lakh shares in the past one quarter. The stock hit a high of Rs 254.30 and a low of Rs 244.20 so far during the day. The stock had hit a 52-week low of Rs 180.80 on 26 February 2016. The stock had hit a 52-week high of Rs 321 on 17 July 2015. The stock had outperformed the market over the past one month till 6 June 2016, rising 11.55% compared with 6.14% rise in the Sensex. The scrip also outperformed the market in past one quarter, advancing 10.36% as against Sensexs 8.65% rise.

The large-cap private sector bank has equity capital of Rs 1163.25 crore. Face value per share is Rs 2.

Meanwhile, ICICI Bank is seeking approval from its shareholders for an enabling resolution to raise up to Rs 25000 crore by way of issue of non-convertible securities within the overall borrowing limits of Rs 2.5 lakh crore. The approval will be valid for a period of one year from the date of passing of the resolution by the shareholders. The Annual General Meeting (AGM) of shareholders is scheduled on 11 July 2016.

ICICI Banks net profit declined 76% to Rs 701.89 crore on 14.5% growth in total income to Rs 18590.86 crore in Q4 March 2016 over Q4 March 2015.

ICICI Bank is one of the leading private sector banks in India.

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SBI gains on reports of proposal to hive off bad loans into separate company
Jun 07,2016

Meanwhile, the S&P BSE Sensex was up 280.87 points or 1.05% at 27,058.32.

On BSE, so far 35.30 lakh shares were traded in the counter as against average daily volume of 37.90 lakh shares in the past two weeks. The stock hit a high of Rs 206.50 and a low of Rs 200 so far during the day. The stock had hit a 52-week high of Rs 291.85 on 5 August 2015. The stock had hit a 52-week low of Rs 148.30 on 12 February 2016.

If non-performing assets (NPAs) are transferred to a separate company, it will help State Bank of India (SBI) concentrate on core banking services. Meanwhile, media reports also suggested that some sovereign wealth funds and private equity players have shown interest in acquiring stake in the so-called bad bank proposed by SBI.

SBIs net profit fell 66.23% to Rs 1263.81 crore on 10.10% increase in total income to Rs 53526.97 crore in Q4 March 2016 over Q4 March 2015.

SBI is Indias biggest bank in terms of branch network. The Government of India currently holds 60.18% stake in SBI (as per the shareholding pattern as on 31 March 2016).

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Volumes jump at Goa Carbon counter
Jun 07,2016

Goa Carbon clocked volume of 7.04 lakh shares by 13:05 IST on BSE, a 50.74 times surge over two-week average daily volume of 14,000 shares. The stock surged 19.96% at Rs 99.75.

Supreme Industries notched up volume of 3.17 lakh shares, a 18.99-fold surge over two-week average daily volume of 17,000 shares. The stock gained 3.72% at Rs 912.

DCB Bank saw volume of 5.96 lakh shares, a 5.05-fold surge over two-week average daily volume of 1.18 lakh shares. The stock advanced 2.08% at Rs 95.55.

Shreyas Shipping & Logistics clocked volume of 1.58 lakh shares, a 4.14-fold surge over two-week average daily volume of 38,000 shares. The stock jumped 15.76% at Rs 372.75 after the company announced that it has recently entered into a vessel sharing arrangement with Shipping Corporation of India. The announcement was made after market hours yesterday, 6 June 2016. Shreyas Shipping & Logistics said that it has recently entered into a vessel sharing arrangement (VSA) with Shipping Corporation of India (SCI) on two of the services connecting East coast of India to West coast of India and vice versa along with Persian Gulf with addition of new ports commencing with effect from 9 June 2016.

Crompton Greaves Consumer Electrical saw volume of 4.44 lakh shares, a 3.95-fold rise over two-week average daily volume of 1.12 lakh shares. The stock rose 0.98% at Rs 133.75.

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Alphageo (India) spurts after securing orders from ONGC
Jun 07,2016

The announcement was made during market hours today, 7 June 2016.

Meanwhile, the S&P BSE Sensex was up 250.24 points or 0.93% at 27,027.69.

On BSE, so far 75,000 shares were traded in the counter as against average daily volume of 6,071 shares in the past two weeks. The stock hit a low of Rs 580 so far during the day. The stock had hit a 52-week high of Rs 720 on 30 November 2015. The stock had hit a 52-week low of Rs 268 on 24 August 2015.

Alphageo (India) said it has secured various letters of award of contracts from ONGC for acquisition of 2D seismic data in un-appraised on land areas of Indian sedimentary basins of India as a part of the National Seismic Program by March 2019. The estimated total value of the awards received is about Rs 1482 crore inclusive of taxes.

On consolidated basis, Alphageo (India)s net profit surged 9505% to Rs 19.21 crore on 429.74% growth in net total income from operations to Rs 70.88 crore in Q4 March 2016 over Q4 March 2015.

Alphageo (India) is the largest onshore integrated seismic service provider in the private sector and enjoys a market leadership in seismic survey.

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