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Aviation stocks drop on higher crude oil prices
Jun 07,2016

SpiceJet (down 1.23% at Rs 64.05), Jet Airways (India) (down 1.65% at Rs 555.75) and InterGlobe Aviation (down 0.85% at Rs 1,008.20) edged lower.

Meanwhile, the S&P BSE Sensex was up 91.03 points or 0.34% at 26,868.48.

In global commodities markets, Brent for August settlement was currently down 11 cents at $50.44 a barrel. The contract had risen 91 cents or 1.83% to settle at $50.55 a barrel during the previous trading session amid ongoing supply disruptions in Canada and Nigeria.

Higher crude oil prices hurt aviation firms as jet fuel prices, which typically constitute about 50% of airlines operating costs, are directly linked to international crude oil prices.

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Prism Cement gains after agreeing to acquire partial stake in BLA Power
Jun 07,2016

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

Meanwhile, the BSE Sensex was up 97.78 points, or 0.37%, to 26,875.23

On BSE, so far 32,250 shares were traded in the counter, compared with an average volume of 93,601 shares in the past one quarter. The stock hit a high of Rs 95.30 and a low of Rs 93.60 so far during the day. The stock hit a 52-week high of Rs 127.60 on 17 July 2015. The stock hit a 52-week low of Rs 55.55 on 12 February 2016. The stock had outperformed the market over the past one month till 6 June 2016, rising 12.87% compared with 6.14% rise in the Sensex. The scrip also outperformed the market in past one quarter, advancing 37.31% as against Sensexs 8.65% rise.

The mid-cap company has an equity capital of Rs 503.36 crore. Face value per share is Rs 10.

Prism Cement said that the company has agreed to acquire 15.23% (post acquisition) equity stake for approximately Rs 21 crore in BLA Power, which is in the sole business of generating thermal power. The company shall enter into a power supply agreement (PSA) with BLA Power for the purchase and consumption of 25 megawatts (MW) of RTC (Round The Clock) power from BLA Power for its cement plants - Unit I and Unit II at Satna, Madhya Pradesh under the group captive arrangement under the Electricity Rules, 2005, Prism Cement said. This agreement is expected to reduce the cost of cement production, the company said.

Prism Cements net profit remained almost unchanged at Rs 61.88 crore on 4.8% fall in total income to Rs 1519.99 crore in Q4 March 2016 over Q4 March 2015.

Prism Cement is an integrated building materials company, with a wide range of products from cement, ready-mixed concrete, tiles, bath products to kitchens. The company has three divisions, viz. Prism Cement, H & R Johnson (India) and RMC Readymix (India).

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Prism Cement gains after agreeing to acquire 15.23% stake in BLA Power
Jun 07,2016

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

Meanwhile, the BSE Sensex was up 97.78 points, or 0.37%, to 26,875.23

On BSE, so far 32,250 shares were traded in the counter, compared with an average volume of 93,601 shares in the past one quarter. The stock hit a high of Rs 95.30 and a low of Rs 93.60 so far during the day. The stock hit a 52-week high of Rs 127.60 on 17 July 2015. The stock hit a 52-week low of Rs 55.55 on 12 February 2016. The stock had outperformed the market over the past one month till 6 June 2016, rising 12.87% compared with 6.14% rise in the Sensex. The scrip also outperformed the market in past one quarter, advancing 37.31% as against Sensexs 8.65% rise.

The mid-cap company has an equity capital of Rs 503.36 crore. Face value per share is Rs 10.

Prism Cement will acquire 15.23% equity stake in BLA Power for approximately Rs 21 crore. Prism Cement will also enter into a power supply agreement (PSA) with BLA Power for the purchase and consumption of 25 megawatts (MW) of RTC (Round The Clock) power from BLA Power for its two cement plants at Satna in Madhya Pradesh. This is expected to reduce the cost of cement production for the two cement units at Satna.

Prism Cements net profit remained almost unchanged on year on year basis at Rs 61.88 crore in Q4 March 2016. Total income fell 4.8% fall in total income to Rs 1519.99 crore in Q4 March 2016 over Q4 March 2015.

Prism Cement is an integrated building materials company, with a wide range of products from cement, ready-mixed concrete, tiles, bath products to kitchens. The company sells ceramic tiles under the Johnson Tiles brand.

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Shreyas Shipping gains after vessel sharing pact with SCI
Jun 07,2016

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

Shares of Shipping Corporation of India (SCI) were up 0.3% at Rs 67.40.

Meanwhile, the S&P BSE Sensex was up 100.56 points or 0.38% at 26,878.01.

On BSE, so far 7,853 shares of Shreyas Shipping & Logistics (Shreyas) exchanged hands on the counter compared with average daily volume of 38,000 shares in the past two weeks. The stock hit a high of Rs 339.90 and a low of Rs 328.40 so far during the day. The stock had hit a 52-week high of Rs 839.50 on 5 August 2015. The stock had hit a 52-week low of Rs 133.10 on 17 February 2016.

Shreyas 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.

On consolidated basis, Shreyas Shipping & Logistics net profit fell 58.55% to Rs 15.10 crore on 21.81% growth in total income to Rs 176.04 crore in Q4 March 2016 over Q4 March 2015.

Shreyas Shipping & Logistics is the ship owning and operating unit of Transwortd Group in the Indian subcontinent. The company provides crucial links between Indian ports which helps in providing door-to-door logistics solutions through its wholly-owned subsidiary company Shreyas Relay Systems and also assists transhipment of cargo from these ports.

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Wipro gains after announcing share buyback schedule
Jun 07,2016

The announcement was made hours yesterday, 6 June 2016.

Meanwhile, the S&P BSE Sensex was up 91.26 points or 0.34% at 26,868.71

On BSE, so far 12,500 shares were traded in the counter as against average daily volume of 1.45 lakh shares in the past one quarter. The stock hit a high of Rs 542 and a low of Rs 537.50 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.

Wipro announced that it would commence buyback of shares on 17 June 2016. The buyback closes on 30 June 2016. Wipros board of directors had in April 2016 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. The buyback price of Rs 625 per share represents a 16.02% premium over the stocks ruling market price.

Wipros consolidated net profit rose 0.04% to Rs 2235 crore on 5.37% rise in total income to Rs 14303.40 crore in Q4 March 2016 over Q3 December 2015.

Wipro is one of the leading global information technology, consulting and outsourcing companies.

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Redington (India) drops amid volatility in early trade
Jun 07,2016

Meanwhile, the S&P BSE Sensex was up 83.62 points or 0.31% at 26,861.07.

On BSE, so far 27,000 shares were traded in the counter as against average daily volume of 29.61 lakh shares in the past two weeks. The stock was volatile. The stock lost as much as 1.57% at the days low of Rs 100.25 so far during the day. The stock rose as much as 0.49% at the days high of Rs 102.35 so far during the day. The stock had hit a 52-week high of Rs 132 on 24 September 2015. The stock had hit a 52-week low of Rs 91.20 on 19 June 2015.

The mid-cap company has equity capital of Rs 79.96 crore. Face value per share is Rs 2.

Harrow Investment Holding sold 1.64 crore shares of Redington (India) at Rs 107.01 per share on the BSE. It sold 41 lakh shares at Rs 107 per share on the NSE. Reliance Mutual Fund sold 50.82 lakh shares at Rs 107 per share on the BSE. Fidelity Puritan Trust Fidelity Low Priced Stock Fund bought 1 crore shares at Rs 107 per share on the BSE. ICICI Prudential Life Insurance Company bought 70 lakh shares at Rs 107 a piece on the BSE.

Redington (India)s consolidated net profit rose 12.2% to Rs 137.56 crore on 27.7% rise in net sales to Rs 10474.32 crore in Q4 March 2016 over Q4 March 2015.

Redington (India) is a supply chain solutions provider worldwide to leading manufacturers of information technology, telecom, lifestyle and consumer electronics products.

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PSU bank stocks gain ahead of meeting with finance minister
Jun 06,2016

Punjab National Bank (up 1.05%), IDBI Bank (up 0.94%), Dena Bank (up 0.52%), Syndicate Bank (up 1.02%), Vijaya Bank (up 0.49%), Allahabad Bank (up 1.18%), State Bank of India (up 1.17%), Union Bank of India (up 2.16%), Bank of Baroda (up 2%), Bank of India (up 0.42%), Canara Bank (up 0.7%), Andhra Bank (up 1.77%) and Corporation Bank (up 0.15%) edged higher.

Meanwhile, the S&P BSE Sensex was down 65.58 points or 0.24% at 26,777.45

As per reports, there are hopes that government would increase its planned capital infusion in state-run banks after 14 of them posted net loss in Q4 March 2016. Talk of a stressed asset fund to take over non-performing assets of banks also boosted sentiment, reports added. Reserve Bank of India has proposed that lenders set up two funds, one to infuse equity into stressed companies and the other to give working capital finance, reports further informed.

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PSU bank stocks in demand
Jun 06,2016

Punjab National Bank (up 1.05%), IDBI Bank (up 0.94%), Dena Bank (up 0.52%), Syndicate Bank (up 1.02%), Vijaya Bank (up 0.49%), Allahabad Bank (up 1.18%), State Bank of India (up 1.17%), Union Bank of India (up 2.16%), Bank of Baroda (up 2%), Bank of India (up 0.42%), Canara Bank (up 0.7%), Andhra Bank (up 1.77%) and Corporation Bank (up 0.15%) edged higher.

Meanwhile, the S&P BSE Sensex was down 65.58 points or 0.24% at 26,777.45

Jaitley was quoted as saying at a news conference after a quarterly performance review meeting with the heads of state-run banks that banks should be empowered and constitutionally protected to conduct commercially prudent settlement of bad loans. Jaitley also said that the Indian Banks Association would meet later today, 6 June 2016, to discuss and suggest a mechanism to handle such settlements.

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PSU OMCs decline on rebound in crude oil prices
Jun 06,2016

Indian Oil Corporation (down 1.45% at Rs 417.25) and HPCL (down 1.23% at Rs 921) edged lower.

Meanwhile, the S&P BSE Sensex was down 58.13 points or 0.22% at 26,784.90.

In global commodities markets, Brent crude oil futures edged higher on renewed hope for more cohesion within the Organization of the Petroleum Exporting Countries (OPEC) to contain supply glut. Brent for August settlement was currently up 54 cents at $50.18 a barrel. The contract had declined 40 cents or 0.79% to settle at $49.64 a barrel during the previous trading session.

Higher crude oil prices could increase under-recoveries of PSU OMCs on domestic sale of LPG and kerosene at controlled prices. The government has already freed pricing of petrol and diesel. However, a recovery in the rupee against the dollar eases concerns about higher crude import costs. Gains in local currency will reduce the cost of imports.

In the foreign exchange market, the rupee strengthened past 67 against the dollar. The partially convertible rupee was hovering at 66.97, compared with closing of 67.26 during the previous trading session.

BPCL fell 1.84% at Rs 994.25 as the stock turned ex-dividend for final dividend of Rs 15 per share for the year ended 31 March 2016. Before turning ex-dividend, the BPCL stock offered a dividend yield of 1.48% based on the stocks closing price of Rs 1,012.85 on the BSE on Friday, 3 June 2016.

Shares of BPCL are currently trading cum bonus. The company had recommended a 1:1 bonus issue on 26 May 2016. The stock will go ex-bonus on 13 July 2016. BPCL has fixed 14 July 2016 as the record date for the bonus issue.

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BPCL slips ex-dividend
Jun 06,2016

Meanwhile, the S&P BSE Sensex was down 19.93 points or 0.07% at 26,823.10

On BSE, so far 44,250 shares were traded in the counter as against average daily volume of 84,979 shares in the past one quarter. The stock hit high of Rs 1,010 and low of Rs 992.10 so far during the day. The stock had hit a record high of Rs 1,032 on 3 June 2016. The stock had hit a 52-week low of Rs 732.20 on 23 February 2016. The stock had underperformed the market over the past one month till 3 June 2016, rising 5.93% compared with Sensexs 6.39% rise. The scrip, however, outperformed the market in past one quarter, gaining 28.15% as against Sensexs 9.09% rise.

The large-cap company has equity capital of Rs 723.08 crore. Face value per share is Rs 10.

Before turning ex-dividend, the BPCL stock offered a dividend yield of 1.48% based on the stocks closing price of Rs 1,012.85 on the BSE on Friday, 3 June 2016.

Shares of BPCL are currently trading cum bonus. The company had recommended a 1:1 bonus issue on 26 May 2016. The stock will go ex-bonus on 13 July 2016. BPCL has fixed 14 July 2016 as the record date for the bonus issue.

BPCLs net profit fell 10.6% to Rs 2549.08 crore on 13.6% decline in total income to Rs 44891.65 crore in Q4 March 2016 over Q4 March 2015.

BPCL is a state-run oil refining-cum-marketing company. The Government of India currently holds 54.93% stake in BPCL (as per the shareholding pattern as on 31 March 2016).

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Idea Cellular extends slide
Jun 06,2016

Meanwhile, the S&P BSE Sensex was down 90.98 points or 0.34% at 26,752.05.

On BSE, so far 9.86 lakh shares were traded in the counter as against average daily volume of 11.55 lakh shares in the past one quarter. The stock lost as much as 2.2% at the days low of Rs 104.20 so far during the day. The stock lost 0.14% at the days high of Rs 106.40 so far during the day. The stock had hit a 52-week low of Rs 97.55 on 10 February 2016. The stock had hit a 52-week high of Rs 186.50 on 22 July 2015. The stock had underperformed the market over the past one month till 3 June 2016, sliding 11.06% compared with Sensexs 6.39% rise. The scrip had also underperformed the market in past one quarter, declining 1.57% as against Sensexs 9.09% rise.

The large-cap company has equity capital of Rs 3600.63 crore. Face value per share is Rs 10.

Shares of Idea Cellular have tumbled 10.43% in two trading sessions from its close of Rs 118.35 on 2 June 2016 after US based private equity firm Providence Equity Partners through its arm P5 Asia Investments Mauritius Limited sold 12.50 crore shares of Idea Cellular at Rs 110.65 per share in a bulk deal on the NSE on Friday, 3 June 2016. Morgan Stanley Asia (Singapore) Pte bought 6.66 crore shares at Rs 110.41 per share. The stock had tumbled 9.97% to settle at Rs 106.55 on Friday, 3 June 2016.

As per the shareholding pattern of Idea Cellular as on 31 March 2016, Providence Equity Partners owned 6.81% stake in Idea Cellular through its arm P5 Asia Investments Mauritius Limited.

Idea Cellulars consolidated net profit fell 38.9% to Rs 575.63 crore on 12.7% growth in net sales to Rs 9462.57 crore in Q4 March 2016 over Q4 March 2015.

Idea Cellular is one of the leading telecom operators in India. It is a part of the Aditya Birla Group.

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Idea Cellular extends losses
Jun 06,2016

Meanwhile, the S&P BSE Sensex was down 90.98 points or 0.34% at 26,752.05.

On BSE, so far 9.86 lakh shares were traded in the counter as against average daily volume of 11.55 lakh shares in the past one quarter. The stock lost as much as 2.2% at the days low of Rs 104.20 so far during the day. The stock lost 0.14% at the days high of Rs 106.40 so far during the day. The stock had hit a 52-week low of Rs 97.55 on 10 February 2016. The stock had hit a 52-week high of Rs 186.50 on 22 July 2015. The stock had underperformed the market over the past one month till 3 June 2016, sliding 11.06% compared with Sensexs 6.39% rise. The scrip had also underperformed the market in past one quarter, declining 1.57% as against Sensexs 9.09% rise.

The large-cap company has equity capital of Rs 3600.63 crore. Face value per share is Rs 10.

Shares of Idea Cellular have tumbled 10.43% in two trading sessions from its close of Rs 118.35 on 2 June 2016. The stock tumbled 9.97% in a single trading session to settle at Rs 106.55 on Friday, 3 June 2016, after US based private equity firm Providence Equity Partners through its arm P5 Asia Investments Mauritius Limited sold a large chunk of its holding in the company via a bulk deal on NSE. P5 Asia Investments Mauritius offloaded 12.50 crore shares of Idea Cellular at Rs 110.65 per share. Morgan Stanley Asia (Singapore) Pte bought 6.66 crore shares at Rs 110.41 per share in the same bulk deal.

As per the shareholding pattern of Idea Cellular as on 31 March 2016, P5 Asia Investments Mauritius Limited owned 24.50 crore shares constituting 6.81% stake in Idea Cellular.

Idea Cellulars consolidated net profit fell 38.9% to Rs 575.63 crore on 12.7% growth in net sales to Rs 9462.57 crore in Q4 March 2016 over Q4 March 2015.

Idea Cellular is one of the leading telecom operators in India. It is a part of the Aditya Birla Group.

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Natco Pharma extends gains
Jun 06,2016

Meanwhile, the S&P BSE Sensex was down 16.20 points or 0.06% at 26,826.83.

On BSE, so far 45,000 shares were traded in the counter as against average daily volume of 65,424 shares in the past one quarter. The stock hit a high of Rs 530.60 and a low of Rs 505.10 so far during the day. The stock had hit a record high of Rs 623.60 on 5 January 2016. The stock had hit a 52-week low of Rs 382.20 on 24 August 2015. The stock had outperformed the market over the past one month till 3 June 2016, advancing 11.39% compared with Sensexs 6.39% rise. The scrip had, however, underperformed the market in past one quarter, gaining 8.15% as against Sensexs 9.09% rise.

The mid-cap company has equity capital of Rs 34.83 crore. Face value per share is Rs 2.

Shares of Natco Pharma have surged 9.72% in two trading sessions from its close of Rs 477.55 on 2 June 2016. The stock surged 8.54% to settle at Rs 518.35 during the previous trading session on Friday, 3 June 2016, on the back of the companys announcement that its marketing partner Mylan Inc. has received a tentative approval for its abbreviated new drug application (ANDA) for Sorafenib Tablets, 200mg from the United States Food and Drug Administration (USFDA). The drug is the generic version of NEXAVAR, which is indicated for the treatment of certain types of cancers including unresectable hepatocellular carcinoma and advanced renal cell carcinoma. Natco Pharma and Mylan have filed an ANDA containing a Paragraph IV certification for this product. Natco Pharma manufactures this product at its facility in Kothur, Telangana.

Bayer Healthcare LLC, Bayer Healthcare Pharmaceuticals Inc. and Onyx Pharmaceuticals Inc. sell Sorafenib Tablets, 200mg, under the brand name NEXAVAR in the US market. As per Bayers annual report, the NEXAVAR brand had sales of approximately $300 million in the US for the 12 months ending 31 December 2015.

Natco Pharmas consolidated net profit rose 10.7% to Rs 60.24 crore on 103% growth in net sales to Rs 386.77 crore in Q4 March 2016 over Q4 March 2015.

Natco Pharma manufactures generic dosage forms, bulk actives and intermediates for the Indian and international markets.

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Natco Pharma extends Fridays rally
Jun 06,2016

Meanwhile, the S&P BSE Sensex was down 16.20 points or 0.06% at 26,826.83.

On BSE, so far 45,000 shares were traded in the counter as against average daily volume of 65,424 shares in the past one quarter. The stock hit a high of Rs 530.60 and a low of Rs 505.10 so far during the day. The stock had hit a record high of Rs 623.60 on 5 January 2016. The stock had hit a 52-week low of Rs 382.20 on 24 August 2015. The stock had outperformed the market over the past one month till 3 June 2016, advancing 11.39% compared with Sensexs 6.39% rise. The scrip had, however, underperformed the market in past one quarter, gaining 8.15% as against Sensexs 9.09% rise.

The mid-cap company has equity capital of Rs 34.83 crore. Face value per share is Rs 2.

Shares of Natco Pharma have surged 9.72% in two trading sessions from its close of Rs 477.55 on 2 June 2016, after the company during market hours on Friday, 3 June 2016 announced that its marketing partner, Mylan Inc. has received a tentative approval for its abbreviated new drug application (ANDA) for Sorafenib Tablets, 200mg, with the United States Food and Drug Administration (USFDA). The stock had surged 8.54% to settle at Rs 518.35 on Friday, 3 June 2016. This product is the generic version of NEXAVAR, which is indicated for the treatment of certain types of cancers including unresectable hepatocellular carcinoma and advanced renal cell carcinoma. Natco Pharma and Mylan have filed an ANDA containing a Paragraph IV certification for this product. Natco Pharma manufactures this product at its facility in Kothur, Telangana.

Bayer Healthcare LLC, Bayer Healthcare Pharmaceuticals Inc., and Onyx Pharmaceuticals Inc., sells Sorafenib Tablets, 200mg, under Brand name NEXAVAR, in the US market. For the 12 months ended 31 December 2015, NEXAVAR had US sales of approximately $300 million (as per Bayers annual report).

Natco Pharmas consolidated net profit rose 10.7% to Rs 60.24 crore on 103% growth in net sales to Rs 386.77 crore in Q4 March 2016 over Q4 March 2015.

Natco Pharma manufactures generic dosage forms, bulk actives and intermediates for the Indian and international markets.

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Bharat Forge drops on buzz of a foreign brokerage retaining reduce rating on the stock
Jun 06,2016

Meanwhile, the S&P BSE Sensex was down 13.50 points or 0.05% at 26,829.53.

On BSE, so far 29,000 shares were traded in the counter as against average daily volume of 76,297 shares in the past one quarter. The stock was volatile. The stock lost as much as 1.88% at the days low of Rs 737 so far during the day. The stock rose as much as 0.31% at the days high of Rs 753.50 so far during the day. The stock had hit a 52-week low of Rs 705 on 24 May 2016. The stock had hit a 52-week high of Rs 1,292.50 on 20 August 2015. The stock had underperformed the market over the past one month till 3 June 2016, sliding 5.63% compared with Sensexs 6.39% rise. The scrip had also underperformed the market in past one quarter, declining 9.14% as against Sensexs 9.09% rise.

The large-cap company has equity capital of Rs 46.56 crore. Face value per share is Rs 2.

The target price of Rs 636 for the Bharat Forge stock set by the foreign brokerage is substantially lower than the ruling market price of Rs 744.45.

Bharat Forges net profit fell 19% to Rs 164.52 crore on 17.4% decline in net sales to Rs 987.07 crore in Q4 March 2016 over Q4 March 2015.

Bharat Forge is the flagship company of Kalyani Group. It is a global provider of high performance, innovative, safety & critical components and solutions to various industrial sectors including automotive, oil & gas, power, construction & mining, aerospace and rail & marine.

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