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Sasken Technologies partners with PTC
Aug 18,2017

Sasken Technologies announced that it has partnered with PTC, a globa provider of technology platforms and solutions that transform how companies create, operate and service products. The collaboration will enable both companies to closely collaborate in solving business challenges for their customers in the IoT space.

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3i Infotech allots 6,148 equity shares
Aug 18,2017

3i Infotech has allotted 6,148 equity shares on 17 August 2017 against conversion of the amended 2.5 % Foreign Currency Convertible Bonds due 2025 (formerly 4.75% Bonds due 2017 and Zero Coupon Convertible Bonds due 2012) (ISIN XS0308551166, LRN 2007687) of principal amount of USD 100,000 (carrying an outstanding value of USD 25,000).

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Board of Infosys approves change in MD and CEO
Aug 18,2017

The Board of Infosys at its meeting held on 18 August 2017 has accepted the resignation of Dr Vishal Sikka as the MD and CEO of the Company with immediate effect. The Board has appointed Dr Vishal Sikka as the Executive Vice Chairman. U B Pravin Rao has been appointed as interim- MD and CEO.

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Alembic Pharmaceuticals intimates of disruption in plant at Constantine, Algeria
Aug 18,2017

Alembic Pharmaceuticals announced that there was a fire incident at its Algerian Joint Venture plant at Constantine, Algeria Constantine, Algeria. It has had been brought under control. No casualties or injury to any persons is reported. The cause of accident and the extent of damage is being investigated and assessed. The Company expects a disruption in operations till the plant is put back on stream.

Alembic Mami SPA is a joint venture in which 49% equity stake is held by Alembic Global Holding SA (AGH), 100% subsidiary of Alembic Pharmaceuticals.

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Board of Manaksia Industries approves setting up of three new subsidiaries
Aug 18,2017

The Board of Manaksia Industries at its meeting held on 16 August 2017 approved the following -

Setting up new subsidiaries in Bangladesh and Sri Lanka with investment of USD 200000 each for manufacturing of packaging products of different sizes for supply to pharmaceuticals, liquor and other industries.

Setting up new subsidiary in Georgia for medical business, metals, edible items by investment of USD 200000.

AGM to be held on 18 September 2017.

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Raymond consolidates its FMCG business
Aug 18,2017

Raymond announced the acquisition of Ansells stake in a joint venture entity known as JK Ansell. With this transaction, the sexual wellness and personal care business will continue to remain in JK Ansell which will become a wholly owned subsidairy of J K Investo Trade (India), a Raymond Group Company. As per the proposed deal, JKIT sells its stake in the glove business to Pacific Dunlop Holdings (Singapore) (Ansell Group Company).

This acquisition will pave the way for Raymond to further scale up the FMGC business and unlock the immense potential of Brand KamaSutra globally.

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Telecommunications sector to generate 30 lakh jobs by 2018: ASSOCHAM-KPMG
Aug 18,2017

Roll out of 4G technology with an increase in data, entry of new players in the market, introduction of digital wallets, popularity of smart phone leading to consistent increase in demand for technology and other developments in the telecom sector likely to increase job opportunities by 30 lakhs by 2018, according to an ASSOCHAM-KPMG joint study.

Emerging technologies such as 5G, M2M and the evolution of Information and Communications Technology (ICT) are expected to create employment avenues for almost 870,000 individuals by 2021, reveals the ASSOCHAM-KPMG joint study.

The existing manpower in the sector may not be adequate both in number as well as in skill to cater to the upcoming demand. There is a need to bridge the gap in skill which on the one hand would require identification of skilled manpower in diverse roles such as infra and cyber security experts, application developers, sales executives, infrastructure technicians, handset technicians etc. as well as on the other hand reskilling of existing manpower working on existing technologies for them to be updated with upcoming requirements.

The government initiatives such as Skill India have been implemented for the ease of providing sufficient and appropriate manpower to the telecom sector, among other sectors. The Telecom Sector Skill Council (TSSC) has been set up to cater to the demands and skill needs of the telecom sector. However, the Industry recommends more targeted and specialised skill development programmes that would enhance existing manpower capabilities and availability to ensure uninterrupted development of the sector as a whole.

The telecom sector has grown at 19.6 per cent CAGR in terms of subscriber base and at 7.07 per cent CAGR from a revenue perspective over the last few years.

n++TSPs have continued to invest in their networks and modernise their existing network infrastructure. Operators CAPEX investments stands at INR 85003 crore during Q1 2017 and the below figure depicts the significant CAPEX investment during the period 2012- 2016n++, noted the study.

Operators made these capex investments primarily to deploy new technologies like 4G and 4G-Advanced, to expand their fibre footprint and to acquire spectrum via spectrum auctions. These investments have resulted in increased borrowings for the TSPs and hence led to an increase in debt burden for the operators, resulting in highly leveraged TSP balance sheets.

Indian telecom sector is a highly price-sensitive market with a subscriber base that has majority prepaid subscribers with lower ARPU. Also, competition in the sector has increased thereby putting a pressure on the operator margins.

The increased debt burden on operators coupled with continuous pressure on profitability has affected the financial health of the telecom sector. Further, initiatives from the government to enhance the health of the telecom sector and enable a cost efficient expansion of digital services are required.

The Indian telecom industry has seen a paradigm shift from a voice centric market to a data-centric market. While voice business still contributes a large chunk towards operator revenues, data revenues have shown an exponential growth trajectory over the last few years. By the end of 2016 the number of internet subscribers in India was 391.50 million making India globally the 2nd highest in terms of internet users.

Mobile data traffic also grew by 76 per cent in India in 2016 primarily attributed to increased smart phone penetration. This growing usage of smart phones, especially in urban areas, has increased the usage of internet on hand-held devices - in 2016, 559 megabytes of mobile data was generated per month by an average smart phone, up from 430 megabytes per month in 2015. Consumption of video content is also forecasted to be 75 per cent of Indias mobile data traffic by 2021, compared to 49 per cent in 2016.

Advancements in innovative IoT technologies, like health monitors, smart transport, smart meters among others, is projected to result in 21 per cent increase in M2M services. These advances will result in a significant growth of mobile data, and as the telecom sector moves to newer technologies, TSPs will need to identify innovative avenues to monetise this data opportunity.

The Indian telecom industry is the second largest in the world by number of subscribers. The sector has witnessed exponential growth over the last few years primarily driven by affordable tariffs, wider availability, roll out of Mobile number portability (MNP), 3G and 4G, evolving consumption patterns of subscribers and a conducive regulatory environment. However, the hyper competitive nature of the Indian telecom market and introduction of disruptive tariff plans have put operator margins under pressure and resulted in consolidation via mergers and acquisitions. The telecom sector finds itself in an unenviable position where despite falling ARPU the players are forced to invest significantly in infrastructure and technology upgrades in order to maintain competiveness. Moving up the technology curve and expanding the breadth of coverage is paramount for the industry to provide differentiated value offerings to end customers.

Vision 2020

n++ Total number of SIM connections is expected to reach 1.4 billion by 2020 from the current 1.1 billion

n++ With 646 million unique mobile subscribers, India is the second largest mobile market in the world and will add more than 300 million new unique subscribers by 2020

n++ Telecom sector contribution to GDP will reach 8.2 per cent by 2020

n++ Smart phone subscriptions will reach 674 million by 2020

n++ Wearable device market is expected to grow from 2.5 million units in 2016 to 4.1 million units in 2020

n++ India has shown tremendous growth potential for IOT solutions with the market poised to reach USD 15 billion by 2020 with 2.7 billion units of connected devices from the current USD 5.6 billion with 200 million units of connected devices in 2016

n++ Data growth driving operator revenues from USD 31 billion in 2016 to USD 39.7 billion in 2020 with a capex investment of USD 35 billion during the period 2016-2020.

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Infosys may gain after launching app with ATP
Aug 18,2017

Infosys announced that ATP, the governing body of mens professional tennis, in association with company launched a new PlayerZone app and website. The revamped PlayerZone, an extranet portal for ATP players, their support teams, coaches, and others in the ecosystem, allows users to engage with each other and access information across a wide range of operational aspects related to life on Tour. The announcement was made after market hours yesterday, 17 August 2017.

The PlayerZone is developed with best-in-class technology to be intuitive and more convenient, offeringbiometric login on the app. It also provides information on tournament entries and withdrawals, automated updates on match scheduling and results, rules and regulations, all the way to hotel information, transportation, visa requirements, and more. Besides simplifying the life of players on Tour, PlayerZone will also feature new prize money and taxes data to ease tracking of earnings and facilitate compliance.

The new app will increase engagement with the next generation of players, provide a central portal of information as players progress through different stages of their career, as well as offer a forum to engagewith the players support teams in a private and secure digital environment.

Punjab National Bank has decided to introduce a two tier interest rates structure on savings fund deposit scheme from 19 August 2017, with savings fund account balance upto Rs 50 lakh at 3.5% per annum and above Rs 50 lakh at 4% per annum. The announcement was made after market hours yesterday, 17 August 2017.

NIIT said that a meeting of the board of directors of the company is scheduled to be held on 22 August 2017, to consider inter-alia, recommendation of the Committee on the rationalization option. The announcement was made after market hours yesterday, 17 August 2017.

It may be recalled that NIITs board at its meeting held on 28 July 2017, had constituted a Committee of Directors/Officials (Committee) to explore the options available for rationalizing the structure of NIIT Antilles NV, Netherlands Antilles and its overseas subsidiaries (Rationalization Option).

Somany Ceramics announced that Sudha Somany Ceramics, an associate of Somany Ceramics is setting up a facility in Andhra Pradesh to produce about 5 million square meters of vitrified tiles. The same is expected to be commissioned in the last quarter of financial year 2018-19. The announcement was made after market hours yesterday, 17 August 2017.

Raymond Group announced the acquisition of Ansells stake in a joint venture entity known as JK Ansell. The announcement was made after market hours yesterday, 17 August 2017.

Talbros Engineering said that its board recommended the issuance of bonus shares in the ratio of 1:1. The announcement was made after market hours yesterday, 17 August 2017.

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Taxpayers who want to avail transitional input tax credit should calculate tax liability after estimating amt. of transitional credit
Aug 18,2017

As per the rules, the Goods and Services Tax (GST) for the month of July 2017 has to be paid by 20th August, 2017. Only after the payment of full GST, return in summary Form 3B can be filed.

Concerns have been raised about the form for claiming transitional input tax credit not being available on the GSTN website. This form will be available on the GSTN website from 21st August, 2017. In view of this, a small window of opportunity is being given to all the taxpayers. For those taxpayers who do not want to claim any transitional input tax credit have to necessarily pay the tax and file return in Form 3Bbefore the due date of 20th August, 2017. The taxpayers who want to avail the transitional input tax credit should also calculate their tax liability after estimating the amount of transitional credit as per Form TRANS I. They have to make full settlement of the liability after adjusting the transitional input tax credit before 20th August, 2017. However, in such cases, they will get time upto 28th August, 2017 to submit Form TRANS I and Form 3B. In case of shortfall in the amount already paid vis-n++-vis the amount payable on submission of Form 3B, the same will have to be paid with interest @ 18% for the period between 21stAugust,2017 till the payment of such differential amount.

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Board of Orient Press approves raising of funds
Aug 17,2017

Orient Press announced that the Board of Directors of the Company at its meeting held on 17 August, 2017 has approved subject to the approval of Members in ensuing Annual General Meeting and pursuant to the provisions of Section 62 of the Companies Act, 2013 raising of funds by way of issue of up to 19,25,000 fully paid Equity Shares of face value of Rs. 10/- each at a price of Rs. 60/- each (at a price which is not lesser than the price calculated in accordance with the provisions of ICDR Regulations) on Preferential allotment basis to Promoters and person other than Promoters.

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Board of Quess Corp approves QIP issue price
Aug 17,2017

The Board of Quess Corp approved issue price of Rs 800 per equity share and approved the prospectus in relation to the QIP issue.

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SRG Housing Finance proposes private placement of NCDs upto 25 cr
Aug 17,2017

SRG Housing Finance proposes to issue of Secured Rated Listed Redeemable Non-Convertible Debentures upto an amount of Rs. 25 crore in one or more tranches, on private placement basis. The Board will consider the proposal on 21 August 2017.

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Outcome of Board meeting of ERIS Lifesciences
Aug 17,2017

The Board of ERIS Lifesciences at its meeting held on 17 August 2017 has transacted the following business:

1. Approved the shifting of the Registered Office of the Company from 21, New York Tower - A, Nr. Muktidham Temple Thaltej Cross Road, Thaltej Ahmedabad- 380054 to 8th Floor, Commerce House IV, Beside Shell Petrol Pump, 100 Feet Road, Prahladnagar, Ahmedabad - 380015 with immediate effect.

2. Decided to convene the Eleventh Annual General Meeting (AGM) of the Members of the Company on Friday, 29 September 2017.

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Outcome of board meeting of Vimal Oil and Foods
Aug 17,2017

The Board of Vimal Oil and Foods at its meeting held on 17 August 2017 has approved the following -

To hold AGM on 29 September 2017.

To shift registered office to Village Hanumant Heduva, Near Palavasna Railway Crossing, Highway, Mehsana -384 002, Gujarat.

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Asia Pacific Market: Stocks end mixed
Aug 17,2017

Asia Pacific share market closed mostly lower on Thursday, 17 August 2017, on growing uncertainty over the pace of U.S. interest rate rises after minutes from the Federal Reserves July meeting showed that policymakers appeared increasingly wary about recent weak inflation and some called for halting interest rate increases until it was clear the trend was transitory.

Minutes from the Federal Reserves Open Market Committee meeting last month (July 25-26) showed a divided Fed. Some members of its policy committee think interest rates should stay about where they are because inflation is still low. Others felt that rates should be raised because delays might lead to dangerously high inflation later. The U.S. central banks preferred inflation measure has remained below its 2% target for more than five years.

The account of the ECBs own meeting also showed caution about inflation and the concern that investors might be expecting a shift away from stimulus programs sooner than warranted by economic conditions.

COMMODITIES: Benchmark U.S. crude fell 17 cents to $46.61 per barrel in electronic trading on the New York Mercantile Exchange. It lost 77 cents, or 1.6%, to $46.78 a barrel in New York. Brent crude, used to price international oils, shed 11 cents to $50.16 per barrel. It dipped 53 cents, or 1%, to $50.27 a barrel in London.

Gold prices generally firm up when it looks as though US rates might not rise as sharply as markets thought and sure enough prices inched higher on Thursday.

Among Asian bourses

Australia Market closes in negative territory as Telstra drags

Australian equity market finished session down, snapping three sessions of gains, after mixed earnings reports from market heavyweights Telstras offset most of the gains by materials shares. At the close, the S&P/ASX index was 0.1%, or 5.9 points, lower to 5779.2, while the broader All Ordinaries index also finished down 0.1%, or 3.6 points, to 5827.2.

Telstra was the biggest drag on the index, plummeting 9.7% to A$3.87 in their worst fall since the GFC after the company cut its year-ahead dividend forecast and revealed a reduced full-year profit. Telstra said it is facing headwinds from a new state-owned National Broadband Network, which will replace the telecom giants copper lines by about 2020.

Financials were down, with QBE falling down 8% to A$11.17 after Australias biggest insurer said its overall payout ratio worsened due to a claims blowout in its emerging markets unit. Elsewhere in the finance sector, CBA lost 0.4% to A$79.55, Westpac 0.1% to A$32.72, ANZ 0.2% to A$30.36, while NAB 0.1% to A$31.29.

Wesfarmers closed up 0.3% on $41.87 as its full-year results revealed a jump in full-year profit, strength in its Bunnings Hardware arm offsetting competitive headwinds battering Coles.

Resource stocks firmed as base metals rallied in overnight trade, with BHP jumped 1% to A$25.95,Rio Tinto 1.4% A$63.61, and Fortescue Metal 0.9% to A$5.55. Woodside Petroleum shares shed 2% to A$29.28.

Evolution Mining jumped 5% after it vowed to return 50pc in after-tax profits to shareholders, while Whitehaven Coal ended 2% lower on the release of its full-year report card.

Treasury Wines shares leapt 3% after growth in North America and Asia sealed a 50% lift in earnings, Cochlear jumped 7% on its report card, while Blackmores added over 4%% after it announced the succession of COO Richard Henfrey to chief executive.

Nikkei closes lower

The Japan share market finished down for straight second session, weighed down by the yens strengthening against the dollar after the minutes of the U.S. Federal Reserves July policy meeting signaled that interest rate hikes would proceed at a slower pace. But individual players actively bought small- and mid-cap issues, supporting the markets downside. The 225-issue Nikkei average shed 26.65 points, or 0.14%, to end at 19,702.63. The Topix index of all first-section issues closed down 1.18 points, or 0.07%, at 1,614.82. Rising stocks outnumbered declining ones on the Tokyo Stock Exchange by 1925 to 1243 and 282 ended unchanged. The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was down 3.34% to 15.35.

Shares of financial sector were broadly lower. Major bank Mitsubishi UFJ fell 0.8% and rival Mizuho was down 0.2%. Japans top brokerage Nomura lost 0.8%.

The stronger yen hit export-oriented names, with Nissan dropping 0.3% and Toyota falling 0.1%. A stronger yen is a negative for Japanese shares because it hurts the profitability of major exporters.

By contrast, Toho Zinc jumped 11.8% after zinc prices hit their highest in about 10 years on the London Metal Exchange on Wednesday.

China Market gains on industrial and material stocks strength

The Mainland China equity market ended higher, on the back of strength in industrial and material stocks, but weakness in technology and consumer non-cyclicals kept a lid on gains. Shanghai Composite adding 0.68% or 21.98 points to 3,268.43 while the CSI 300 - which tracks the large caps listed in Shanghai and Shenzhen - increased 0.54% or 19.86 points to 3,721.28. The Shenzhen Composite Index tacked on 0.58% or 10.99 points to 1,909.38.

Late on Wednesday, Chinas cabinet said the country will become more open for global investors, citing sectors of new-energy vehicle manufacturing, ship design, aircraft maintenance and railway passenger transportation. The measures to ease foreign investment restrictions came after the US announced its probe of Chinas intellectual property practices, and the prospect of lifting foreign investment is having a significant effect on the market.

Shares of industrials were up, with China Nuclear Engineering Corp leading rally, up by the daily limit of 10%. On Wednesday, the company said that newly signed contracts in the first seven months increased 17.2% from the previous year.

Materials and resources stocks advanced. Aluminum Corp of China (Chalco) shares finished up 1.1% on tracking strength in aluminum prices. Aluminium prices have reached multi-year highs on expectations of supply curbs as China reforms its metals industry.

Shipping and shipbuilding companies were also higher, with their prospects lifted as the Baltic Exchanges main sea freight index rose for a 13th straight session. COSCO Shipping Holdings Co gained 5% and China CSSC Holdings surged 6%.

China Life Insurance gained 1%, after the insurer said it will buy a 10.22% stake in China Unicom as part of a deal that saw the telecom firm receive US$11.7 billion from 14 private and state investors. China Unicom said Wednesday that 14 investors will acquire a combined 35.2% stake in the companys Shanghai-listed unit, China United Network Communications, for 78 billion yuan. China Unicom is among the first group of state-owned enterprises that Beijing has given approval to for a pilot run for mixed ownership reform. Shares of China Unicom were suspended from trading on Thursday.

Hong Kong Stocks end down

The Hong Kong stock market finished softer, as better-than-expected earnings from market heavyweight Tencent was tempered by concern equity valuations were turning expensive. Market was also dragged down by Chinese commercial banks. The Hang Seng Index slipped 0.2% to 27,344.22 at the close after changing direction a few times. The H-shares index lost 0.15%, or 16.46 points, to 10,801.42 points. Turnover increased to HK$96.4 billion from HK$81.8 billion on Wednesday.

Hang Seng Indexes Company yesterday announced its quarterly review for the benchmark index. It decided to include WH Group (00288) into its HSI. WH shot up 2.8% to HK$8.2. Sunny Optical (02382), which was tipped but failed to join the HSI, slipped 2.7% to HK$107.2.

Shares of Tencent advanced 1.92% to HK$329.4, after briefly surging 5.3% to an all-time high of HK$340.4. The company reported late Wednesday that its net income increased 64% to 32.7 billion yuan (US$4.9 billion) for the first six months of the year, well above consensus estimates. Revenues gained 57% to 106.2 billion yuan, fuelled by growth in smartphone game and advertising businesses.

Hong Kongs flagship carrier Cathay Pacific stock advanced 0.86% to HK$11.80 on Thursday despite the disappointing results. The companys posted a HK$2.05 billion loss for the first half.

Shares of Chinese commercial banks were lower. China Construction Bank declined 0.60% to HK$6.62 and ICBC lost 0.89% to HK$5.60.

Swire Properties shares lost 1.88% to HK$78.5 despite the company reporting that its interim earnings beat analysts forecasts.

Tian Ge Interactive, a Hangzhou-based live social video platform, was suspended from trading after sinking as much as 9.2%. The losses came after Emerson Analytics issued a report that alleged Tian Ge had exaggerated its user base by about six times and inflated its revenue by more than 100%.

Indian Market settles with minuscule gains

Indian benchmark indices settled with minor gains after a volatile trading session. The barometer index, the S&P BSE Sensex, rose 24.57 points or 0.08% to settle at 31,795.46. The Nifty 50 index advanced 6.85 points or 0.07% to settle at 9,904.15. Weakness in European stocks and subdued trading on Asian bourses kept investors risk-appetite in check.

Stocks of public sector banks edged higher. Stocks of private sector banks declined. IT major Infosys advanced after the company announced that its board will consider a proposal for buyback of equity shares at a meeting to be held on 19 August 2017.

United Bank of India rose 0.54% at Rs 18.60. The bank said that it has reduced deposit rates for deposit upto Rs 1 crore from 6.25% to 6.1% per annum. Deposit rate for more than Rs 1 crore has been reduced from 4.5% to 4.35% and amount upto Rs 50 lakh has been revised downwards from 4% to 3.5% effective 18 August 2017. The announcement was made after market hours yesterday, 16 August 2017.

HDFC Bank declined 0.86% at Rs 1,765. The bank during trading hours today, 17 August 2017, announced a revision in its savings bank interest rate effective 19 August 2017. Post revision, customers maintaining savings bank account balance of Rs 50 lakh and above will continue to earn interest at 4% per annum. Customers maintaining account balance of below Rs 50 lakh will earn interest at 3.5% per annum. The revised rates will be applicable to both resident and non-resident customers.

Yes Bank lost 1.28% at Rs 1,738.95. The bank with effect from 1 September 2017 has revised its savings account interest rate slabs for resident & non-resident customers. The new slabs were: 5% per annum for savings balances less than Rs 1 Lakh, 6% (unchanged) for balances of Rs 1 lakh to less than Rs 1 crore and 6.25% per annum for balances above Rs 1 crore. The announcement was made after market hours yesterday, 16 August 2017.

IT major Infosys advanced 4.54% at Rs 1,021.15 after the company announced that the board of directors of the company will consider a proposal for buyback of equity shares at its meeting to be held on 19 August 2017. The announcement was made after market hours yesterday, 16 August 2017.

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