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Axis Bank will be watched after Q2 results
Oct 26,2016

Axis Banks net profit declined 83.34% to Rs 319.08 crore on 14.14% growth in total income to Rs 13698.77 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 25 October 2016.

Axis Banks net interest income (NII) rose 11% to Rs 4514 crore in Q2 September 2016 over Q2 September 2015. The banks provisions and contingencies jumped 412.28% to Rs 3622.74 crore in Q2 September 2016 over Q2 September 2015.

Axis Banks gross non-performing assets (NPAs) stood at Rs 16378.65 crore as on 30 September 2016 as against Rs 9553.17 crore as on 30 June 2016 and Rs 4451.11 crore as on 30 September 2015. The ratio of gross NPAs to gross advances stood at 4.17% as on 30 September 2016 compared with 2.54% as on 30 June 2016 and 1.38% as on 30 September 2015. The ratio of net NPAs to net advances stood at 2.02% as on 30 September 2016 as against 1.08% as on 30 June 2016 and 0.48% as on 30 September 2015.

HDFC, Hero MotoCorp, Hindustan Unilever, ITC, Cadila Healthcare and Dabur India will declare July-September 2016 quarter results today, 26 October 2016

On a consolidated basis, Bharti Airtels net profit fell 4.9% to Rs 1461 crore on 3.4% rise in total revenues to Rs 24652 crore in Q2 September 2016 over Q2 September 2015. Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 14.5% to Rs 9466 crore in Q2 September 2016 over Q2 September 2015. EBITDA margin was reported at 38.4% in Q2 September 2016, higher than 34.7% Q2 September 2015. The result was announced after market hours yesterday, 25 October 2016.

In a separate announcement, Bharti Airtel announced that the board of directors of the company at its meeting held on 25 October 2016, has authorised a committee of directors to evaluate options for monetization of a significant stake in Bharti Infratel, in accordance with applicable regulations. The final outcome of this exercise will be placed before the board for approval, before any final decision is taken. Bharti Airtel has also requested Bharti Infratel to allow sharing of any information with any prospective buyer, subject to customary confidentiality arrangements. There is no certainty of any transaction until such time the board reviews and approves the final proposal. The announcement was made after market hours yesterday, 25 October 2016.

Bharti Infratel, Indias leading telecom tower infrastructure provider, is a significant subsidiary of Bharti Airtel. Bharti Airtel has, in the past, divested stakes in Bharti Infratel to a clutch of private equity investors led by Temasek, KKR and other high quality investors in 2008. This was followed by an initial public offering (IPO) in the year 2012 and block sales in the stock market in 2014 and 2015. As on date Airtel holds 71.96% stake in Bharti Infratel.

Asian Paints after market hours yesterday, 25 October 2016 said that its board of directors approved the scheme of amalgamation of Asian Paints (International) Limited, Mauritius, wholly owned subsidiary of the company with Asian Paints. The scheme will come into effect subject to the approval from the stock exchanges, Bombay High Court and such other statutory authorities as may be required in India and Mauritius. It may be noted that the proposed scheme has been reviewed and recommended for approval by the Audit Committee of the Board of the company at its meeting held on 24 October 2016.

State Bank of India said that it has issued and allotted 25,000 AT1 Basel III compliant non- convertible, perpetual, subordinated, unsecured debt instrument in the nature of debenture, of face value Rs 10 lakh each at par through private placement bearing coupon at 8.39% per annum payable annually with call option after 5 years or any coupon payment date thereafter aggregating to Rs 2500 crore in third tranche. The announcement was made after market hours yesterday, 25 October 2016.

Reliance Industries (RIL) through its overseas wholly-owned subsidiaries have signed facilities agreements for availing term loan facilities for an aggregate amount of $573 million (equivalent to approximately Rs 3828 crore) for part financing the construction cost of six very large ethane carriers (VLECs) (the Facilities). RIL group had ordered six state-of-the-art VLECs, which will be the largest Ethane vessels ever built in the world. The announcement was made after market hours yesterday, 25 October 2016.

The Facilities with door to door tenor of 12 year comprise of a Korea Trade Insurance Corporation (K-sure) insured tranche of $286.50 million and a commercial tranche of $286.50 million. The Facilities shall be secured by collateral of respective VLECs. The said VLECs are financed at a debt to equity ratio of 80:20. The Facilities were oversubscribed by two times and saw participation from seven banks in K-sure covered tranche and six banks in the commercial tranche. This reflects the strong credit standing of RIL in the international financial markets.

VLECs would transport Ethane from United States of America to Dahej terminal in India, which will be used for feeding RILs crackers at Dahej, Hazira and Nagothane, to ensure consistent supply of Ethane at competitive prices.

IDFC Banks net profit galloped 550.27% to Rs 387.76 crore on 2615.82% growth in total income to Rs 2493.13 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 25 October 2016. The bank commenced its banking operations on 1 October 2015. Accordingly, the results for Q2 September 2016 are not comparable with corresponding previous quarter.

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Tata Group stocks in focus after Cyrus Mistrys ouster
Oct 25,2016

Shares of Tata Group companies will be watched as Tata Sons, the holding company of the Tata Group, said its board of directors replaced Cyrus P. Mistry as chairman of Tata Sons. The decision was taken at a Board meeting held yesterday, 24 October 2016. The board named Ratan N. Tata as interim chairman of Tata Sons. The board has constituted a selection committee to choose a new chairman. The committee comprises Ratan N. Tata, Venu Srinivasan, Amit Chandra, Ronen Sen and Lord Kumar Bhattacharyya, as per the criteria in the Articles of Association of Tata Sons. The committee has been mandated to complete the selection process in four months.

Vedanta after market hours yesterday, 24 October 2016 issued clarification with regard to news item titled Vedanta suspends work at Bicholim mine in Goa. The company said that Sesa Mining Corporation, a subsidiary of Vedanta, had suspended the work at Bicholim mines due to union agitation/activism. This a temporary closure of operations in the interest of safety and security of all employees at the Bicholim Mines, Vedanta said. The company added that the Bicholim Mine is one of the many mines operated by the subsidiaries of the company and the temporary suspension of the mine does not in any way impact the business deliverables.

Adani Enterprises consolidated net profit fell 78.87% to Rs 63.09 crore on 18.49% decline in total income to Rs 7770.59 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 24 October 2016. Ameet Desai, Executive Director of Adani Enterprises and Group CFO said that this has been a good quarter with recurring financial performance despite multiple headwinds including market volatility for commodities. The company has well-rounded growth in volume at its mining, agro and city gas businesses during the quarter. With improving economic climate and business sentiment, the company expects to further boost its financial performance, Desai said.

Idea Cellular reported net loss of Rs 42.79 crore in Q2 September 2016 as against net profit of Rs 739.59 crore in Q2 September 2015. Net sales rose 6.78% to Rs 9223.78 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 24 October 2016.

On a consolidated basis, net profit of Idea Cellular declined 88% to Rs 91.46 crore on 7.23% rise in net sales to Rs 9298.89 crore in Q2 September 2016 over Q2 September 2015.

On a consolidated basis, net profit of Rallis India rose 31% to Rs 66.52 crore on 20.78% rise in net sales to Rs 540.26 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 24 October 2016.

On a consolidated basis, net profit of Tata Metaliks rose 7.41% to Rs 21.73 crore on 1.36% decline in net sales to Rs 321.48 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 24 October 2016.

Capital First announced after market hours yesterday, 24 October 2016 that the meeting of the Debenture Committee of the Board of Directors of the company will be held on 27 October 2016, inter alia, to consider and approve the private placement of rated, listed, secured/unsecured/perpetual, redeemable, non-convertible securities in the nature of debentures to be listed on the debt market segment of National Stock Exchange of India (NSE).

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Wipro in focus after Q2 results
Oct 24,2016

Wipros consolidated net income fell 8% to Rs 2070 crore on 10% increase in gross revenues to Rs 13770 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours on Friday, 21 October 2016.

During the quarter, non-GAAP constant currency IT services segment revenue in dollar terms grew 0.9% over Q1 June 2016 and grew 7.2% over Q2 September 2015. IT services segment revenue was $1916.30 million, a decrease of 0.8% over Q1 June 2016 and an increase of 4.6% over Q2 September 2015.

IT services segment profits fell 5% to Rs 2340 crore on 9% increase in revenue to Rs 13140 crore in Q2 September 2016 over Q2 September 2015. Wipro expects revenues from its IT services business to be in the range of $1,916 million to $1,955 million.

On a consolidated basis, net profit of Cairn India rose 139.16% to Rs 778.70 crore on 9.08% decline in net sales to Rs 2038.59 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours on Friday, 21 October 2016.

Sun Pharmaceutical Industries said it completed the divestment of its seven prescription brands in India to RPG Life Sciences. This has been done after receiving approval of the Competition Commission of India and completion of all the necessary formalities for closure of the transaction, Sun Pharmaceutical Industries said in a filing. On 27 July 2016, Sun Pharma had informed that it had signed an pact with RPG Life Sciences to divest seven brands in India, owned by the company and its subsidiary, for a consideration of Rs 41 crore. The announcement was made after market hours on Friday, 21 October 2016.

The board of JK Lakshmi Cement in its meeting on 26 October 2016 will consider issuing non-convertible debentures (NCDs) of upto Rs 500 crore, in one or more tranches, on private placement basis subject to requisite approval of the shareholders. The announcement was made after market hours on Friday, 21 October 2016.

Union Bank of India said its board will meet on 26 October 2016 to consider raising of capital funds through various means. The announcement was made after market hours on Friday, 21 October 2016.

Great Eastern Shipping Company (GE Shipping) said it signed a contract to buy a Supramax Dry Bulk Carrier of about 58,000 deadweight tonnage (dwt). The 2009 built vessel is expected to join the companys fleet in Q3 December 2016. The companys current fleet stands at 37 vessels, comprising 24 tankers (7 crude carriers, 15 product tankers, 2 LPG carrier) and 13 dry bulk carriers (1 Capesize, 7 Kamsarmax, 5 Supramax) with an average age of 8.93 years aggregating 2.88 mn dwt. Additionally, the company has 1 Newbuilding Kamsarmax on order. The announcement was made after market hours on Friday, 21 October 2016.

Net profit of RPG Life Sciences rose 300.39% to Rs 10.25 crore on 13.66% rise in net sales to Rs 76.38 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours on Friday, 21 October 2016.

Net profit of SKF India rose 20.42% to Rs 60.26 crore on 10.65% rise in net sales to Rs 654.55 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours on Friday, 21 October 2016.

On a consolidated basis, net profit of Oberoi Realty rose 12.45% to Rs 83.72 crore on 32.62% rise in net sales to Rs 250.85 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours on Friday, 21 October 2016.

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RIL may gain after declaring good Q2 result
Oct 21,2016

Reliance Industries (RIL)s net profit rose 17.91% to Rs 7704 crore on 0.64% increase in total income to Rs 66624 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 20 October 2016.

On a consolidated basis, RILs net profit fell 22.9% to Rs 7206 crore on 9.6% increase in turnover to Rs 81651 crore in Q2 September 2016 over Q2 September 2015. Profit before depreciation, interest, and taxes (PBDIT) rose 24.8% to Rs 13551 crore in Q2 September 2016 over Q2 September 2015.

RIL said its turnover increased primarily on account of increase in volumes in refining, petrochemical and retail businesses.

RILs revenue from the refining and marketing segment decreased by 0.4% to Rs 60527 crore in Q2 September 2016 over Q2 September 2015. Segment earnings before interest and taxes (EBIT) rose 9.7% to Rs 5975 crore in Q2 September 2016 over Q2 September 2015, aided by stronger volumes and yield shifts to capture higher margins.

Gross Refining Margins (GRM) stood at $10.10 per barrel in Q2 September 2016, a tad lower than $10.60 per barrel in Q2 September 2015.

Revenue from the petrochemicals segment increased by 5.6% to Rs 22422 crore in Q2 September 2016 over Q2 September 2015, primarily due to increase in volumes of fiber intermediates and polyester products.

Revenues for organized retail business grew by 63% to Rs 8079 crore in Q2 September 2016 over Q2 September 2015. The increase in turnover was led by growth in digital, fashion & lifestyle and petroleum products. During the quarter, Reliance Retail added 59 stores across various store concepts and strengthened its distribution network for consumer electronics. As on 30th September 2016, Reliance Retail operated 3,442 stores across 679 cities with an area of over 13 million square feet.

Commenting on the results, Mukesh D. Ambani, chairman and managing director, RIL said that the company has achieved outstanding second quarter results with strong refining business performance and record petrochemicals segment earnings. Refining business sustained high profitability in a tough environment highlighting the companys exceptional refining assets, dynamic response to market trends and robust operations. Petrochemicals segment gained significantly from higher volumes, integration and supportive product margins. RILs projects in the hydrocarbon chain are at advanced stages of mechanical completion and precommissioning activities. These projects will further strengthen the companys position as a leading operator in the energy and materials businesses. RIL is delighted and humbled by the enthusiastic adoption of Jio by India. Jio is built to empower every Indian with the power of data.

RILs outstanding debt as on 30 September 2016 was Rs 189132 crore compared to Rs 180388 crore as on 31 March 2016.

Cash and cash equivalents as on 30 September 2016 were at Rs 82533 crore compared to Rs 89966 crore as on 31 March 2016. These were in bank deposits, mutual funds, CDs and Government Bonds and other marketable securities.

Separately, RIL announced after market hours yesterday, 20 October 2016 that Reliance Jio Infocomm (RJIL) has received communication from Telecom Regulatory Authority of India (Trai) stating that the tariff plans offered by it are fully compliant with regulatory norms of IUC compliance, non-predatory and non-discriminatory. This clearly establishes the fact that all the tariffs offered by RJIL are in compliance with the prevailing regulations, RJIL said.

HCL Technologies is scheduled to announce Q2 September 2016 results today, 21 October 2016. ACC is scheduled to announce Q3 September 2016 results today, 21 October 2016.

Wipro will announce its Q2 September 2016 results today, 21 October 2016. The company after market hours yesterday, 20 October 2016 said it has signed a definitive agreement to acquire Appirio, a global cloud services company that creates next generation worker and customer experiences for a purchase consideration of $500 million. The acquisition is subject to customary closing conditions and regulatory approvals and is expected to be closed in Q3 December 2016.

Praj Industries consolidated net profit fell 39.32% to Rs 3.04 crore on 2.04% fall in total income to Rs 202.64 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 20 October 2016.

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RIL in spotlight after declaring Q2 result
Oct 21,2016

Reliance Industries (RIL)s consolidated net profit fell 22.9% to Rs 7206 crore on 9.6% increase in turnover to Rs 81651 crore in Q2 September 2016 over Q2 September 2015. Profit before depreciation, interest, and taxes (PBDIT) rose 24.8% to Rs 13551 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 20 October 2016.

RILs net profit rose 17.91% to Rs 7704 crore on 0.64% increase in total income to Rs 66624 crore in Q2 September 2016 over Q2 September 2015.

RIL said its turnover increased primarily on account of increase in volumes in refining, petrochemical and retail businesses.

RILs revenue from the refining and marketing segment decreased by 0.4% to Rs 60527 crore in Q2 September 2016 over Q2 September 2015. Segment earnings before interest and taxes (EBIT) rose 9.7% to Rs 5975 crore in Q2 September 2016 over Q2 September 2015, aided by stronger volumes and yield shifts to capture higher margins.

Gross Refining Margins (GRM) stood at $10.10 per barrel in Q2 September 2016, a tad lower than $10.60 per barrel in Q2 September 2015.

Revenue from the petrochemicals segment increased by 5.6% to Rs 22422 crore in Q2 September 2016 over Q2 September 2015, primarily due to increase in volumes of fiber intermediates and polyester products.

Revenues for organized retail business grew by 63% to Rs 8079 crore in Q2 September 2016 over Q2 September 2015. The increase in turnover was led by growth in digital, fashion & lifestyle and petroleum products. During the quarter, Reliance Retail added 59 stores across various store concepts and strengthened its distribution network for consumer electronics. As on 30th September 2016, Reliance Retail operated 3,442 stores across 679 cities with an area of over 13 million square feet.

Commenting on the results, Mukesh D. Ambani, chairman and managing director, RIL said that the company has achieved outstanding second quarter results with strong refining business performance and record petrochemicals segment earnings. Refining business sustained high profitability in a tough environment highlighting the companys exceptional refining assets, dynamic response to market trends and robust operations. Petrochemicals segment gained significantly from higher volumes, integration and supportive product margins. RILs projects in the hydrocarbon chain are at advanced stages of mechanical completion and precommissioning activities. These projects will further strengthen the companys position as a leading operator in the energy and materials businesses. RIL is delighted and humbled by the enthusiastic adoption of Jio by India. Jio is built to empower every Indian with the power of data.

RILs outstanding debt as on 30 September 2016 was Rs 189132 crore compared to Rs 180388 crore as on 31 March 2016.

Cash and cash equivalents as on 30 September 2016 were at Rs 82533 crore compared to Rs 89966 crore as on 31 March 2016. These were in bank deposits, mutual funds, CDs and Government Bonds and other marketable securities.

Separately, RIL announced after market hours yesterday, 20 October 2016 that Reliance Jio Infocomm (RJIL) has received communication from Telecom Regulatory Authority of India (Trai) stating that the tariff plans offered by it are fully compliant with regulatory norms of IUC compliance, non-predatory and non-discriminatory. This clearly establishes the fact that all the tariffs offered by RJIL are in compliance with the prevailing regulations, RJIL said.

HCL Technologies is scheduled to announce Q2 September 2016 results today, 21 October 2016. ACC is scheduled to announce Q3 September 2016 results today, 21 October 2016.

Wipro will announce its Q2 September 2016 results today, 21 October 2016. The company after market hours yesterday, 20 October 2016 said it has signed a definitive agreement to acquire Appirio, a global cloud services company that creates next generation worker and customer experiences for a purchase consideration of $500 million. The acquisition is subject to customary closing conditions and regulatory approvals and is expected to be closed in Q3 December 2016.

Biocon reported consolidated net profit of Rs 146.70 crore in Q2 September 2016 as compared with net loss of Rs 10.60 crore in Q2 September 2015. Total income rose 21.2% to Rs 992.50 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 20 October 2016.

Syngene Internationals net profit rose 54.02% to Rs 74.70 crore on 21.68% rise in total income to Rs 313.90 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 20 October 2016.

NBCC (India) may remain in focus as the government proposes to sell up to 9 crore equity shares, or 15% equity, of NBCC (India) through offer for sale (OFS) through a separate, designated window on the stock exchanges. The OFS opened yesterday, 20 October 2016 for non-retail investors and opens today, 21 October 2016 for retail investors and non-retail investors who choose to carry forward their un-allotted bids. The floor price for the OFS is Rs 246.50 per equity share. As on 30 June 2016, the government held 90% stake in NBCC (India).

Praj Industries consolidated net profit fell 39.32% to Rs 3.04 crore on 2.04% fall in total income to Rs 202.64 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 20 October 2016.

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NBCC (India) in focus as government to dilute stake through OFS
Oct 20,2016

NBCC (India) announced after market hours yesterday, 19 October 2016, that the government proposes to sell up to 9 crore equity shares, or 15% equity, of NBCC (India) through offer for sale (OFS) through a separate, designated window on the stock exchanges. The OFS will open on 20 October 2016 for non-retail investors and on 21 October 2016 for retail investors and non-retail investors who choose to carry forward their un-allotted bids. The floor price for the OFS shall be Rs 246.50 per equity share. The OFS floor price is at 2.57% discount to the stocks previous closing price of Rs 253 on BSE. As on 30 June 2016, the government held 90% stake in NBCC (India).

Reliance Industries and Yes Bank will declare its Q2 September 2016 results today, 20 October 2016.

Hindustan Zincs net profit fell 15.41% to Rs 1901.87 crore on 10.51% decline in total income to Rs 4647.62 crore in Q2 September 2016 over Q2 September 2015. Earnings before interest, taxes, depreciation and amortization (EBITDA) fell 6% to Rs 2077 crore in Q2 September 2016 over Q2 September 2015.

The company said its revenues decreased during the quarter on account of lower volumes, partly offset by higher zinc & silver prices and rupee depreciation. Net profit decreased during the quarter due to higher depreciation and lower investment income on account of smaller corpus despite higher mark to market gains. The result was announced after market hours yesterday, 19 October 2016.

Bharti Airtel after market hours yesterday, 19 October 2016, announced an offer for all customers purchasing a new 4G mobile handset. Airtel is offering 10 GB 4G/3G data on a recharge of Rs 249 along with any new 4G handset. 1 GB data will be instantly credited to the customers account and the additional 9 GB data can be claimed by the customer through MyAirtel App. The data will be valid for 28 days. Users can avail a maximum of 3 recharges within 90 days, on the offer.

The special offer, which was introduced in Gujarat and Madhya Pradesh & Chhattisgarh last week, has now been extended across India and is available across all brands of 4G handsets. Airtel 4G is currently available in 18 circles across India. In non 4G circles, 3G data will be available to customers with their 4G devices. Pack Prices may vary from circle to circle. Offer on 4G handsets only and can be availed within 30 days of purchase of the handset.

RBL Banks net profit rose 34.3% to Rs 89.89 crore on 37.91% rise in total income to Rs 1071.04 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 19 October 2016.

Bayer CropSciences net profit rose 2.12% to Rs 159.10 crore on 8.22% rise in total income to Rs 1118.10 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 19 October 2016.

Tata Coffees consolidated net profit rose 61.89% to Rs 44.65 crore on 7.19% fall in total income to Rs 375.76 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 19 October 2016.

Quess Corps consolidated net profit increased 65.86% to Rs 30.12 crore on 27.27% rise in total income to Rs 1023.38 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 19 October 2016.

Ceat announced of a rollout a new breed of Puncture Safe tyres for the two wheeler market. This new range will offer a technology to consumers that will allow tyres to resist punctures with no loss of air pressure and allow a hassle free and safe ride. This new range is currently available only in the states of Andhra Pradesh and Telangana and the company proposes to roll out the Puncture Safe tyre range in the other markets in a phased manner. The announcement was made after market hours yesterday, 19 October 2016.

Rashtriya Chemicals and Fertilizers (RCF) has issued commercial paper for Rs 150 crore on 19 October 2016, in favour of ICICI Bank, having maturity date as 30 December 2016. The announcement was made after market hours yesterday, 19 October 2016.

Suzlon Group announced a joint venture with the Unisun Energy Group for the development and construction of a 15 megawatts (MW) Solar PV Project located at Bhainsa, Adilabad District, Telangana. The announcement was made after market hours yesterday, 19 October 2016.

According to the contract signed between Suzlon Group and the Unisun Energy Group on 22 August 2016, the Unisun Energy Group shall acquire a 49% stake in Vayudoot Solarfarms, a special purpose vehicle (SPV) set-up by Suzlon for executing this project. Unisun Energy has the option to acquire the balance of the 51% stake in the SPV in the future in accordance with the relevant rules and regulations. The off-taker of the Vayudoot project will be the Telangana State Northern Power Distribution Company Limited (TSNPDCL). Suzlon will be responsible for project commissioning and to provide comprehensive operation and maintenance services for a period of 25 years. The project is expected to be commissioned in the financial year 2017 (FY17).

Suzlon won solar projects of 210 MW in Telangana through a competitive bidding process and the PPAs for the same were signed in February, 2016. These include one project of 100 MW, one of 50 MW and four projects of 15 MW each.

NCC will be watched. The NCC-BGR Consortium, which was formed between NCC and BGR Mining & Infra (BGR), has been awarded the Pachhwara North Coal Block Mine Developer and Operator Project (MDO Project) by the West Bengal Power Development Corporation (WBPDCL). The Pachhwara North Coal Block is located in the Pakur District of Jharkhand State and was allocated by the Ministry of Coal, Government of India, to the WBPDCL and the coal extracted is for use for their power plants in West Bengal. The announcement was made after market hours yesterday, 19 October 2016.

The project has coal reserves of nearly 400 million tons and over burden of 1650 million cubic meters. The rate of mining fee per ton of coal is about Rs 890 including taxes. The total duration of the Project is about 30 years and will be extended for further period until the coal reserves are exhausted. The peak rated capacity of the mine is 15 million tons per annum (to be achieved by the 6th year of commencement of operation). The value of the project including taxes is estimated to be Rs 35000 crore (approximately) over a period of 30 years and the annual revenue at rated capacity is about Rs 1335 crore. These values are however valued at the current prices. Further, the contract provides for escalation of mining fees etc and therefore the yearly turnover may vary in line with the escalation of the input prices.

Tata Communications announced the successful completion of the India data centre joint venture transaction with ST Telemedia, a strategic global investor focused on communications, media and technology sectors. The announcement was made after market hours yesterday, 19 October 2016. In May 2016, the parties announced their entry into definitive agreements whereby ST Telemedia, through its wholly-owned subsidiary, ST Telemedia Global Data Centres (STT GDC), agreed to acquire a 74% majority stake in Tata Communications data centre business in India and Singapore. The transaction for STT GDCs acquisition of the majority stake in the India data centre business has been completed and is estimated at 100% enterprise value of Rs 3140 crore. Tata Communications remains a significant shareholder. The transaction for the Singapore data centre joint venture is expected to close shortly. The strategic partnership provides both companies with the opportunity to further grow their data centre businesses, offering advanced managed data centre services that enable digital transformation for customers.

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Endurance Technologies in focus on debut
Oct 19,2016

Shares of Endurance Technologies will debut on the bourses today, 19 October 2016. The initial public offer (IPO) of the company saw strong response from investors. The issue received bids for 75.52 crore shares and it was subscribed 43.84 times. The qualified institutional buyers (QIBs) category was subscribed 53.43 times. The non-institutional investors category was subscribed 127.07 times. The retail investors category was subscribed 2.69 times. The bidding for the IPO remained open between 5 October 2016 to 7 October 2016. The issue price was fixed at top end of the price band of Rs 467 to Rs 472 per share.

Mahindra & Mahindra (M&M) announced after market hours yesterday, 18 October 2016 that it has subscribed to and has been allotted 60 lakh equity shares of Rs 10 each of Classic Legends Private (CLPL), constituting 60% of its post-issue capital, offered to the company by CLPL on preferential basis. CLPL is into automobile industry. It is yet to commence its commercial operations.

Reliance Industries (RIL) announced after market hours yesterday, 18 October 2016 that the DTA unit of Jamnagar refinery of the company is planning to shut down the Fluidized Catalytic Cracking Unit (FCCU) for routine Maintenance & Inspection activities from the second week of November 2016 for about 5 weeks. The shutdown will provide an opportunity to carry out a revamp job in one of the Polypropylene units. All the four crude distillation units along with other major secondary processing units are expected to operate at normal throughput, RIL said.

Bank of Baroda (BoB) announced after market hours yesterday, 18 October 2016 that a meeting of the Capital Raising Committee of the Board is scheduled to meet on 21 October 2016, to consider and approve the issue of bonds. It may be recalled that BoB had announced on 15 October 2016 that it had initiated the process of raising funds through issuance of Basel III Compliant AT-I (Additional Tier-I Capital) Bonds of Rs 1000 crore with Green Shoe option of Rs 1000 crore (Total size not to exceed Rs 2000 crore) on private placement basis.

Havells Indias net profit rose 21.97% to Rs 145.79 crore on 9.8% rise in total income to Rs 1477.54 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours yesterday, 18 October 2016.

Hatsun Agro Products net profit rose 3.61% to Rs 32.16 crore on 17.36% rise in total income to Rs 1001.82 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours yesterday, 18 October 2016.

Sterling Tools scheduled a board meeting on 5 November 2016, to consider stock split proposal of equity shares of the company. The announcement was made after market hours yesterday, 18 October 2016.

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Axis Bank in focus after announcing reduction in MCLR
Oct 18,2016

Axis Bank said that the bank has reduced its lending rates based on marginal cost of funds based lending rate (MCLR) by 5 basis points across all tenors effective from 18 October 2016. Axis Bank said that the banks MCLR for overnight loans will be 8.8%, the rate for one month will be 8.85% and for three months it will be 9.05%. The MCLR on 6-month loans will be 9.15% and for one-year loans the rate will be 9.2%, the bank said. MCLR on two-year loans will be 9.3% and for three-year loans the rate will be 9.35%. The announcement was made after market hours yesterday, 17 October 2016. Separately, Axis Bank announced that it has received request for redemption of $46 million - 7.167% Callable Hybrid Tier I Notes. The Notes were issued on 15 November 2006. The announcement was made after market hours yesterday, 17 October 2016.

Bharat Financial Inclusion said it issued commercial papers of an aggregate amount of Rs 100 crore on 17 October 2016, which have been rated A1+ by a leading rating agency. Instruments with the aforesaid rating are considered to have a very strong degree of safety regarding timely payment of financial obligations. Such instruments carry the lowest credit risk. The aggregate commercial papers outstanding as on date is Rs. 450 crore. The announcement was made after market hours yesterday, 17 October 2016.

Petronet LNG announced that the part facilities of the expansion of Dahej LNG Terminal from 10 to 1.5 MMTPA i.e. regasification facility has been commissioned and under stabilization. As such the additional gas send-out from Dahej LNG terminal has commenced. The balance part of the expansion i.e. two LNG storage tanks are likely to be completed by October 2016. The announcement was made after market hours yesterday, 17 October 2016.

Shriram EPC announced that it has been awarded contract of over Rs 61 crore from K.U.W.S. & D. Board (KUWSD), Bengaluru for providing water supply scheme to Robertsonpet (KGF) City under AMRUT. Scope of work includes providing water supply scheme to Robertsonpet (KGF) City under AMRUT. The project is to be executed over a period of 36 months. The announcement was made after market hours yesterday, 17 October 2016.

Aarti Industries said that the board of directors of the company approved the buyback up to 12 lakh shares representing up to 1.44% of paid-up capital of the company at Rs 800 per share. The announcement was made after market hours yesterday, 17 October 2016.

Indian Hume Pipe Company said that its board of directors will meet on 26 October 2016 to consider the proposal for issuing bonus shares by capitalization of free reserves. The announcement was made after market hours yesterday, 17 October 2016.

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SBI in focus as board approves divestment of stake in SBI Life
Oct 17,2016

State Bank of India (SBI) said that the Executive Committee of the Central Board (ECCB) at its meeting held on 14 October 2016 has approved to dilute upto 5% stake of SBI in SBI Life to a non-promoter entity. The announcement was made after market hours on Friday, 14 October 2016.

Shares of PSU OMCs will be in focus after Indian Oil Corporation (IOCL) increased petrol and diesel prices with effect from midnight 15 October 2016/16 October 2016. IOCL announced increase in selling price of petrol by Rs 1.34/litre (excluding State levies) and increase in selling price of diesel by Rs 2.37/litre (excluding State levies). The current level of international product prices of petrol and diesel and INR-USD exchange rate warrant decrease in price of petrol and increase in price of diesel, the impact of which is being passed on to the consumers with this price revision, IOCL said. The movement of prices in the international oil market and INR-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes, it added.

Among corporate news, UltraTech Cement is scheduled to announce its Q2 September 2016 results today, 17 October 2016.

HDFC after market hours on Friday, 14 October 2016 announced that it has closed the issue of rupee denominated bonds to overseas investors aggregating to an amount up to Rs 500 crore. The yield to investor is 7.25% per annum payable semi-annually. Maturity date is 9 January 2020.

Mahindra & Mahindra (M&M) announced on 15 October 2016 regarding the transfer of Franchisee Division of Mahindra Retail, a subsidiary of the company on a slump sale basis to BrainBees Solutions. The total lump sum consideration for the transfer of Franchisee Division on a slump sale basis is Rs 362.10 crore. The two largest retail players in the largely unorganised $12 billion baby and kids market in India, FirstCry.com (BrainBees Solutions) and Mahindra Retail (BabyOye), have consolidated their business activities to create a dominant presence in this segment. In terms of the structure of the transaction, Mahindra Retail and FirstCry have consolidated their operations, with Mahindra Retail selling its Franchise business to FirstCry, and operating all company stores under a FirstCry master franchisee agreement. FirstCry additionally raises $34 million of new equity capital from the Mahindra Group, Adveq (a large private equity fund), Kris Gopalakrishnan and participation from all existing shareholders.

ICICI Bank announced after market hours on Friday, 14 October 2016 that the board of directors of the bank at its meeting held 14 October 2016, approved the appointment of Anup Bagchi, presently Managing Director & CEO, ICICI Securities, as Executive Director of ICICI Bank subject to regulatory approvals for a period of five years effective 1 February 2017 or the date of approval of his appointment by the Reserve Bank of India (RBI), whichever is later. Anup Bagchi has been with the ICICI Group since 1992 and has worked in the areas of retail banking, corporate banking and treasury. During his tenure at ICICI Securities, he has led the growth and development of the retail broking, retail financial product distribution and wealth management businesses, ICICI Bank said. Bagchi is not related to any other director of the bank, it added.

The board also took on record, the resignation of Rajiv Sabharwal, Executive Director consequent to his decision to pursue opportunities outside the ICICI Group, effective 31 January 2017. The board also took note of other incidental changes to the senior management positions across the ICICI Group.

Canara Bank said that the majority of the directors have taken note of the contents and the recommendations of the bank in the circular note and consented to raise Additional Tier-I Capital Funds through BASEL-III Compliant Additional Tier-I Perpetual Bonds in rupee terms domestically for an amount not exceeding Rs 2500 crore in single tranche or in tranches depending on the market conditions to maintain healthy CRAR during the current financial year. A bond committee will be constituted to determine the structure of the issue size, tenor, coupon, timing of the issue, date of allotment, listing and other matters connected to the issue. The announcement was made after market hours on Friday, 14 October 2016.

DCB Banks net profit rose 31.3% to Rs 48.49 crore on 22.16% rise in total income to Rs 567.89 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours on Friday, 14 October 2016.

CRISILs consolidated net profit rose 3.86% to Rs 79.84 crore on 8.22% rise in total income to Rs 404.73 crore in Q3 September 2016 over Q3 September 2015. The result was announced after market hours on Friday, 14 October 2016.

Hatsun Agro Product said that CRISIL has re-affirmed upon renewal the companys Long Term Rating as CRISIL A / Stable for the bank loan facilities and Commercial Paper rating for Rs 150 crore as CRISIL A1. The announcement was made after market hours on Friday, 14 October 2016.

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TCS may gain after announcing good Q2 results
Oct 14,2016

IT major TCS reported a 4.3% growth in its consolidated net profit at Rs 6586 crore on 0.1% decline in revenue to Rs 29284 crore in Q2 September 2016 over Q1 June 2016. The result was announced after market hours yesterday, 13 October 2016.

Commenting on the companys Q2 performance, CEO and MD, N Chandrasekaran said it has been an unusual Q2 for TCS. Growing uncertainties in the environment is creating caution among customers and resulted in holdbacks in discretionary spending this quarter, he said. In addition, volatility in markets like India and Latin America also muted revenue growth, he said. It has been a good quarter from a profitability perspective where despite multiple headwinds the companys disciplined approach and focus on operations has helped it deliver a strong margin performance, Chandrasekaran said.

Rajesh Gopinathan, Chief Financial Officer of TCS said that Q2 September 2016 has been a quarter of good financial performance with sequential improvement in profitability and strong cash generation despite multiple headwinds including global currency and market volatility through the quarter.

Infosys announces Q2 results today, 14 October 2016.

Wipro announced the launch of Treasury DNA Decisions and Analytics platform that will digitally enable global treasuries using cloud technologies. Treasury DNA is powered by BELLINs tm5, a leading treasury management systems provider. The announcement was made yesterday, 13 October 2016.

Yes Bank announced that a meeting of the board of directors of the bank will be held on 20 October 2016, to consider Q2 results and to update on QIP and fund raising by way of QIP and debt issues, under the current shareholders approval which is valid till 6 June 2017. The announcement was made yesterday, 13 October 2016.

PSU OMCs will be in focus. The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi, approved the mechanism for revision of ethanol price for supply to Public Sector Oil Marketing Companies (OMCs) to carry out the Ethanol Blended Petrol (EBP) Programme.For the next sugar season 2016-17 during ethanol supply period from 1st December, 2016 to 30th November, 2017, the administered price of ethanol for the EBP Programme will be Rs 39 per litre. Additionally, charges will be paid to the ethanol suppliers as per actuals in case of Excise Duty and VAT/GST and transportation charges as decided by OMCs. If the need arises to increase/reduce the retail selling price of petrol by PSU OMCs, then such increase/reduction would proportionately factor in the requirement of maintaining the fixed cost of purchase of ethanol during the ethanol supply year.

The prices of ethanol will be reviewed and suitably revised by Government at any time during the ethanol supply period that is from 1st December, 2016 to 30th November, 2017 depending upon the prevailing economic situation and other relevant factors. The revision in ethanol prices will facilitate the continued policy of the Government in providing price stability and remunerative prices for ethanol suppliers.

Lux Industries said that the companys rating for Long Term Bank Facilities have been revised by CARE from CARE A (Single A) to CARE A+ (Single A plus). The rating for Short Term Bank Facilities have been revised by CARE from CARE A1 (A One) to CARE A1 + (A One plus). The announcement was made after market hours yesterday, 13 October 2016.

Shreyas Shipping & Logistics said that the companys wholly owned subsidiary Shreyas Relay Systems has decided to sell its stake of 51% in SRS Freight Management to BSL Freight Solutions. The announcement was made after market hours yesterday, 13 October 2016.

Future Enterprises announced that the committee of directors of the company at a meeting held on 13 October 2016, considered, approved & allotted of 250, 9.75% secured redeemable non-convertible debentures (NCDs) of Rs 10 lakh each (NCD Series XV - A) and 250, 9.8% secured redeemable NCDs of Rs 10 lakh each, (NCD Series XV - B) aggregating to Rs 50 crore, on private placement basis. The announcement was made yesterday, 13 October 2016.

Reliance Industrial Infrastructures net profit fell 19.33% to Rs 3.38 crore on 7.72% rise in total revenue to Rs 26.10 crore in Q2 September 2016 over Q2 September 2015. The result was announced yesterday, 13 October 2016.

Karnataka Bank has fixed 25 October 2016 as record date for issue of shares on rights basis. The announcement was made after market hours yesterday, 13 October 2016.

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IndusInd Bank may gain on good Q2 results
Oct 13,2016

IndusInd Banks net profit rose 25.75% to Rs 704.26 crore on 23.97% increase in total income to Rs 4439.72 crore in Q2 September 2016 over Q2 September 2015. The result was announced on Wednesday, 12 October 2016. It is to be noted that the stock market was shut on Tuesday, 11 October 2016 and Wednesday, 12 October 2016.

The banks gross non-performing assets (NPAs) stood at Rs 899.01 crore as on 30 September 2016 as against Rs 860.64 crore as on 30 June 2016 and Rs 602.10 crore as on 30 September 2015.The ratio of gross NPAs to gross advances stood at 0.90% as on 30 September 2016 as against 0.91% as on 30 June 2016 and 0.77% as on 30 September 2015.

The ratio of net NPAs to net advances stood at 0.37% as on 30 September 2016 as against 0.38% as on 30 June 2016 and 0.31% as on 30 September 2015. The banks provisions and contingencies (excluding tax provisions) rose 35.29% to Rs 213.88 crore in Q2 September 2016 over Q2 September 2015.

IT major TCS announces Q2 results today, 13 October 2016.

Shares of Mahindra & Mahindra (M&M) will be in focus. SsangYong Motor Company, part of the Mahindra group on Wednesday, 12 October 2016 announced that as a part of its effort to grow in China, the company signed a letter of intent with the Shaanxi Automobile Group for a joint venture that will establish a local production for CBU vehicles. The joint venture, which will become SsangYongs first overseas production base, in a 50/50 partnership with the Shaanxi Automobile Group, will construct production facilities for CBU vehicles and an engine plant. The first phase of construction will establish a plant with an annual capacity of 150,000 units per year by the end of 2019 and the second phase will involve an expansion of the facilities to 300,000 units annnually. Further, SsangYong will establish an automotive cluster with its major suppliers that will also enter the market, to ensure product competitiveness, and start the production of SsangYongs current models and models under development, in the second half of 2019.

ICICI Bank announced on Wednesday, 12 October 2016, that it has notified The Bank of New York Mellon (Trustee) that all outstanding 7.25% perpetual non-cumulative subordinated debt securities (Notes) of the bank will be redeemed in full on 31 October 2016 (redemption date) at a redemption price equal to 100% of the principal amount thereof plus accrued and unpaid interest to the redemption date. The amount of accrued and unpaid interest with respect to the Notes to the redemption date will be $36.25 on each $1,000 of Notes. The redemption price including the amount of accrued and unpaid interest with respect to the Notes for all outstanding Notes on the redemption date will be $1036.25 for each $1,000 of Notes. ICICI Bank acting through its Bahrain branch had issued a $340,000,000 7.25% perpetual non-cumulative subordinated debt securities on 24 August 2006 with an optional redemption by the bank on 31 October 2016, or on any subsequent interest payment date.

Dr Reddys Laboratories announced yesterday, 10 October 2016 that it has launched Lamotrigine Orally Disintegrating Tablets in 25 mg, 50 mg, 100 mg and 200 mg, a therapeutic equivalent generic version of Lamictal ODT (lamotrigine) Orally Disintegrating Tablets in the United States market approved by the United States Food & Drug Administration (USFDA). The Lamictal ODT brand and generic had US sales of approximately $65.5 million MAT for the most recent twelve months ended in July 2016 according to IMS Health. Lamictal ODT is a registered trademark of GSK group of companies. The announcement was made after market hours yesterday, 10 October 2016.

GAIL (India) on Monday, 10 October 2016, announced that it has received intimation from the Ministry of Petroleum and Natural Gas that the Cabinet Committee on Economic Affairs (CCEA) approved 40% capital grant (limited to Rs 5176 crore) of the estimated capital cost of Rs 12940 crore to GAIL (India) for execution Jagdishpur-Haldia/Bokaro-Dhamra gas pipeline (JHBDPL) project by 2020. The announcement was made after market hours on Monday, 10 October 2016

Tata Motors announced that the company is desirous of offering the fifth series of its rated, listed, unsecured, redeemable, non convertible debentures (NCDs) aggregating to Rs 500 crore and in this regard is holding a meeting of its duly constituted committee of the board of directors on 18 October 2016. The issuance is pursuant to the approval of the shareholders passed vide special resolution at the 71th Annual General Meeting of the company held on 9 August 2016 and the board of directors resolution passed at its meeting held on 26 August 2016. The announcement was made on Wednesday, 12 October 2016.

Cipla announced that it has received Establishment Inspection Report (EIR) from the United States Food & Drug Administration (USFDA) for its Indore facility indicating formal closure of the US FDA inspection conducted in July/August, 2015. The announcement was made on Wednesday, 12 October 2016.

HDFC announced that pursuant to the approval of the board of directors of the company at its meetings held previously, the company is contemplating, subject to market conditions, undertaking the fourth issuance of Rupee denominated bonds to overseas investors. The issue size of the bonds will be up to Rs 500 crore. The issue will open on 14 October 2016 and closes on the same day. The pricing and the tenure of the bonds to be issued pursuant to the said issue will be intimated in due course. The announcement was made before market hours today, 13 October 2016.

Majesco announced a partnership with Life.io, a digital consumer engagement platform, transforming how insurers relate to their customers through monitoring and analyzing their behavior, preferences and more through realtime data integration. The announcement was made on Wednesday, 12 October 2016.

Life.io helps insurers evolve to meet the needs of a new demographic of consumers, transforming how insurers relate to them by gaining insight that enables insurers to offer the right product at the right time based on their life-stage. The Life.io platform integrates with new technologies such as wearables and health applications to provide new sources of data to understand, assess, underwrite and service customers, encouraging healthy lifestyles while improving insurers operational and risk management results.

As a part of this partnership, the two companies are integrating Life.ios Consumer Engagement platform into Majesco DigitalConnect and Majescos core systems software to enhance the user-experience, improve risk management and support smarter selling and marketing of life insurance to consumers and customers throughout their life-stages. The Majesco DigitalConnect platform enables insurers to integrate new and innovative content, data, and collaboration capabilities together to provide a cohesive digital experience for an insurers customers.

Blue Dart Express net profit fell 20.68% to Rs 42.80 crore on 1.55% rise in total income to Rs 670.21 crore in Q2 September 2016 over Q2 September 2015. The result was announced on Wednesday, 12 October 2016.

KEC International announced that it has secured new orders worth Rs 1192 crore. The announcement was made on Wednesday, 12 October 2016.

Sagar Cements announced that a meeting of the board of directors of the company is being convened to be held on 19 October 2016, to consider proposals for setting up of a coal based power plant at companys unit in Mattampally, Nalgonda district, Telangana and for expanding the capacity of the grinding unit in Bayyavaram, Vizag district, Andhra Pradesh and to raise funds for the purpose. The announcement was made on Wednesday, 12 October 2016.

Titan Company announced that the company is exploring opportunities in personal lifestyle categories. The company has since inception been exploring opportunities in personal lifestyle categories. One such category is special occasion ethnic wear for women which will now be piloted for understanding consumer attitudes and preferences. The pilot, which may include setting up a few stores, is expected to last about 12 months at the end of which the company will take a decision on the future course of action. The announcement was made on Wednesday, 12 October 2016.

Gruh Finances net profit rose 19.86% to Rs 61.98 crore on 17.84% rise in total income to Rs 367.43 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 10 October 2016.

Asian Granito India (AGIL) announced on Wednesday, 12 October 2016 that it has completed a major expansion at its step subsidiary Crystal Ceramics Industries (Crystal Ceramics). AGIL acquired Artistique Ceramic in FY 2015-16 through amalgamation scheme which holds 70% in Crystal Ceramics through Kediya Ceramics. Kamlesh Patel, Chairman and Managing Director of AGIL said that acquisition of Crystal Ceramics was a strategic decision as along with the product range it also enjoyed a natural gas supply arrangement with ONGC which is significantly lower than the prevailing market price. With this expansion production capacity of Crystal Ceramics has reached 27,000 square meters a day, he said. The new plant will be making double charged vitrified tiles in the large format of 800x800 mm and 1000x1000 mm for domestic as well exports, Patel said. AGIL also has the required infrastructure for future expansion at Crystal Ceramics, he added.

IL&FS Engineering and Construction Company announced on Wednesday, 12 October 2016, that IL&FS Engineering Services has received the fax of acceptance (FOA) from Gas Authority of India (GAIL) for a pipeline laying contract worth Rs 162.58 crore.

Cera Sanitaryware announced on Wednesday, 12 October 2016 that commercial production at the companys associate LLP Packcart Packaging LLP has started successfully.

Borosil Glass Works announced on Wednesday, 12 October 2016 that the company has made an investment of Rs one million dirhams, equivalent to approximately Rs 1.82 crore by way of subscription in one additional share of Borosil Afrasia FZE, its wholly owned subsidiary in UAE, Dubai.

Jagran Prakashan announced that Music Braodcast Limited, subsidiary of the company has commenced broadcast from its radio station at Kanpur location (which was acquired under Phase 3 auctions held last financial year) on 10 October 2016. The countrys leading radio network redefined radio entertainment in Kanpur with a power packed launch of Radio City Kanpur 104.8. The announcement was made on Tuesday,11 October 2016.

Polyplex Corporation announced that consequent upon sale of shares of Polyplex (Thailand) Public Company Limited, Thailand, by companys step down wholly owned subsidiary viz. Polyplex (Asia) Pte. Limited, Singapore, the effective stake of the company in Polyplex Thailand has decreased from 54.084% to 51%. The announcement was made after market hours on Friday, 10 October 2016.

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JSW Steel may gain after Karnataka govt declares it as preferred bidder in 5 mines
Oct 10,2016

RBL Bank, NeoGrowth Credit Pvt. Ltd and Overseas PrivateInvestment Corporation (OPIC), the US Governments development finance Institution have jointly committed to provide financing for small and medium enterprises (SMEs) in the Indian retail space. The announcement was made after market hours on Friday, 7 October 2016.

RBL Bank, one of Indias fastest growing private sector banks, will lend to NeoGrowth to enable it to provide loans to SMEs excluded from mainstream funding. This financing will be backed by a $5 million loan guarantee from OPIC. NeoGrowth, a non-banking finance institution, uses innovative technology to serve the funding requirements of SMEs, which do not get loans easily from commercial banks owing to their small size, inadequate credit history and lack of collateral. RBL Banks loan will allow NeoGrowth to provide loans ranging from Rs 2 lakh to Rs 75 lakh to the retail SMEs.

JSW Steel announced that it has been declared a preferred bidder in 5 mines in the auctions for category C mines conducted by state government of Karnataka during the period 1 October 2016 to 6 October 2016. The estimated resources in these 5 mines as per the tender documents are around 111 million tonnes. The highest final offer price by the company to become a preferred bidder is in the range of 58.9% to 102.52% of average monthly prices of iron ore of different grades and quality published by Indian Bureau of Mines in Karnataka from time to time. The announcement was made after market hours on Friday, 7 October 2016.

A2Z Infra Engineering announced that it has received a contract from Jharkhand Urja Sancharan Nigam (JUSNL) for design, engineering, supply, erection, testing and commissioning on turnkey basis of deposit work of Steel Authority of India (SAIL). Total contract price of the work is around Rs 96 crore. The announcement was made after market hours on Friday, 7 October 2016.

JK Paper announced that it has acquired all the remaining 16,865 shares or 1.03% of JK Enviro-Tech Limited (JKETL), the subsidiary of the company and consequently, JKETL has now become a wholly owned subsidiary of the company. The announcement was made after market hours on Friday, 7 October 2016.

Power Grid Corporation of India announced that POWERGRID Vizag Transmission, a wholly owned subsidiary of the company, secured though Tariff Based Competitive Bidding (TBCB), has successfully completed the element Srikakulam - Vemagiri 765 kV D/c line on 30 September 2016. The other element of the project Khammam - Nagarjunasagar 400kV D/C was completed in last financial year. With the completion of both the elements, the project required to be established by POWERGRID Vizag Transmission Limited has been completed. The announcement was made after market hours on Friday, 7 October 2016.

Shriram City Union Finance announced that the Banking and Securities Management Committee as empowered by the companys board of directors in its meeting held on 7 October 2016 allotted 1,000 secured non convertible redeemable debentures of face value of Rs. 10 lakh each aggregating to Rs 100 crore to two investors of the company. The announcement was made after market hours on Friday, 7 October 2016.

Adani Transmission (ATL), the largest private power transmission company operating in India, completed the acquisition of 74% shares of Maru Transmission Service Company Limited (MTSCL) and 49% shares of Aravali Transmission Service Company Limited (ATSCL). While payment has been made for 100% stake in both the companies, the remaining stake in both the companies will be transferred to ATL in a manner consistent with the Transmission Service Agreement. This acquisition is in sync with ATL strategy to enhance the value for its stakeholders, through organic as well as inorganic growth. The announcement was made after market hours on Friday, 7 October 2016.

With this, cumulative network of ATL will reach around 10900 ckt kms, out of which approximate 9000 ckt kms are under operation (including 3500 ckt kms under process of acquisition) and approximate 1900 ckt kms are under various stages of construction. With this scale of operations, ATL will enjoy substantial benefit of scale driving in terms of cost optimization and shared resources.

Recently, the company has successfully concluded two capital market fund raising programmes - USD Bond with overwhelming responses from global investors across Asia, USA, London and rupee denominated INR Offshore bond (Masala Bond).

Speciality Restaurants announced on Saturday, 8 October 2016 closure of Sweet Bengal confectionery by the company at Mumbai.

Sunil Hitech Engineers announced after market hours on Friday, 7 October 2016 that the meeting of the board of directors of the company is scheduled to be held on 11 October 2016, to consider the issue of bonus shares and the issue of convertible warrants to the promoters and non-promoters.

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Kotak Mahindra Bank in focus after reducing base rate
Oct 07,2016

Kotak Mahindra Bank announced that it has revised its base rate downwards by 10 basis points (bps) to 9.4% per annum with effect from 7 October 2016. All categories of loans (other than the exceptions permitted by RBI) will be priced with reference to the revised base rate. The announcement was made after market hours yesterday, 6 October 2016.

Canara Bank announced that the bank has effected downward revision in the base rate by 5 basis points (bps) from 9.65% to 9.6% effective from 11 October 2016. The announcement was made after market hours yesterday, 6 October 2016.

Reliance Industries (RIL) before market hours today, 7 October 2016 said that Reliance Jio Infocomm (RJIL) has successfully acquired the right to use 269.2 MHz (UL+DL) spectrum across all 22 service areas in India in the recently concluded spectrum auction conducted by DOT, Government of India. Through this acquisition, RJILs total spectrum footprint has increased to 1,108 MHz (UL+DL) with an average life of over 16 years, further strengthening its leadership position in liberalized spectrum holdings. RJILs spectrum footprint ensures availability of spectrum in all the three bands across the country and enhances its network capacity at negligible incremental capital and operating expenditure.

Bharti Airtel before market hours today, 7 October 2016 announced that it has acquired 173.8 Mhz spectrum across 1800/2100/2300 MHz bands for a total consideration of Rs 14244 crore in the latest spectrum auction conducted by the Department of Telecom, Government of India. Airtel said it has further strengthened its pan-India spectrum portfolio and secured its spectrum requirements for the next 20 years. The company now has 4G and 3G spectrum in all circles, giving it the widest mobile broadband footprint across the country.

Idea Cellular announced before market hours today, 7 October 2016 that the company has successfully completed its pan-India mobile broadband footprint and significantly boosted its capacity spectrum portfolio in the recently concluded spectrum auction conducted by DOT, Government of India. Idea is now well equipped to offer 4G services on its own spectrum across 20 service areas including 9 new service areas. It has also procured 3G spectrum in Bihar & Rajasthan extending its capability to offer 3G services to 15 service areas.

Tata Steel announced that its hot metal production rose 17% to 3.12 million tonnes in Q2 September 2016 over Q2 September 2015. Crude steel production rose 13% to 2.82 million tonnes in Q2 September 2016 over Q2 September 2015. Saleable steel production increased by 11% to 2.71 million tonnes in Q2 September 2016 over Q2 September 2015. The companys sales rose 12.44% to 2.62 million tonnes in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours yesterday, 6 October 2016.

Fiem Industries announced that it has signed a technology license and assistance agreement (TAA) with Aisan Industry Co., Ltd., Japan and Toyota Tsusho Corporation, Japan for manufacturing of Canister. The announcement was made after market hours yesterday, 6 October 2016. Fiem Industries see this as a big opportunity of diversification into new product line. The company aims to supply the Canister to all its existing original equipment manufacturers (OEM) as well as target new customers. Canister is an emission control system product which will have huge market in India due to implementation of stricter emission norms for two-wheelers and three-wheelers as it will become mandatory from 1 April 2017. The Canister will be manufactured by Fiem Industries with the technical support of Aisan Industry Co., Ltd for two-wheelers and three-wheelers in Indian market.

SREI Infrastructure Finance announced that the company has allotted 29.33 lakh non convertible debentures (NCDs), aggregating to Rs 293.36 crore on 6 October 2016. The announcement was made after market hours yesterday, 6 October 2016.

Jaiprakash Associates announced that the board of directors of Jaiprakash Power Ventures (JPVL), a subsidiary of the company, in a meeting held on 6 October 2016 approved the sale of Nigrie Cement Grinding Unit located in Madhya Pradesh to Orient Cement for an enterprise value of Rs 500 crore on slump sale basis. The announcement was made after market hours yesterday, 6 October 2016. The 2 million tonne per annum unit clocked turnover of Rs 90.70 crore in financial year ended 31 March 2016 and contributed 2.33% to turnover of JPVL. The definitive agreement is yet to be executed. The expected date of completion of sale is 6 months.

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Oil India in spotlight after company led consortium completes two acquisitions in Russia
Oct 06,2016

Oil India announced that the company led Indian consortium successfully completed two landmark acquisitions in Russia. The Indian consortium led by Oil India including Indian Oil Corporation (IOCL) and Bharat PetroResources (BPRL), a 100% subsidiary of BPCL have successfully completed two landmark acquisitions of producing upstream assets in Russia. The consortium acquired 29.9% stake in LLC Taas-Yuryakh Neftegazodobycha (Taas Yuryakh) and 23.9% stake in JSC Vankorneft (Vankorneft) from Rosneft Oil Company, the national oil company of Russia.

IOCL announced that the company has fixed 19 October 2016 as the record date for 1:1 bonus issue. The announcement was made after market hours yesterday, 5 October 2016.

Power Grid Corporation of India (PGCIL) announced that POWERGRID Unchahar Transmission, a wholly owned subsidiary of the company has successfully completed the project comprising the element Unchahar-Fatehpur 400 kV D/c line and declared commercial operation on 1 October 2016. The announcement was made after market hours yesterday, 5 October 2016.

Bajaj Finance announced that debenture allotment committee of the company has at a meeting on 4 October 2016, allotted 3,650 partly paid unsecured redeemable non-convertible debentures of face value of Rs 10 lakh each along with remittance of Rs 124.10 crore, on private placement basis. The remittance of Rs 124.10 crore was the first tranche of Rs 3.4 lakh of the issue price per debenture. The announcement was made after market hours yesterday, 5 October 2016.

Transformers and Rectifiers (India) (TRIL) announced that it has entered into a joint venture agreement with Jiangsu Jingke Smart Electric Company (Jingke), a company incorporated under laws of Peoples Republic of China (PRC) for purpose of starting the business of manufacturing and marketing of GIS/HGIS/TGIS systems and products for 220kV and below and distribution products of 40.5 kV and below in India. TRIL will hold majority of 60% of share of joint venture and balance will be held by Jingke. The company neither has any interest in Jingke nor fall within related party transactions. The announcement was made after market hours yesterday, 5 October 2016.

TRIL is leading manufacturer of transformers and reactors upto 765 kV. The utilities find increasing usage of GIS as space becomes restriction and technology is getting advanced. This is logical foray for a TRIL for diversification in transmission & distribution (T&D) Segment.

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Tata Steel in focus after raising funds
Oct 05,2016

Tata Steel announced that the Committee of Directors yesterday, 4 October 2016, allotted 8.15%, Unsecured, Redeemable Non-Convertible Debentures aggregating to Rs 1000 crore, on a private placement basis, to certain identified investors. The announcement was made after market hours yesterday, 4 October 2016.

Yes Bank announced after market hours yesterday, 4 October 2016 that it has successfully raised Rs 2135 crore through senior long term infrastructure bonds. The issue was closed on 30 September 2016 and witnessed strong demand from leading domestic investors resulting in a total subscription of the issue. The issue was subscribed 2.13 times. The bonds will be listed on BSE and were raised at a coupon rate of 8% per annum with a tenor of 10 years. The proceeds will be used to finance long term projects in infrastructure and its allied sub-sectors.

UCO Bank announced that as a part of capital raising plan, a proposal for issue of 7.17 crore equity shares at an issue price to be determined later on preferential basis to Life Insurance Corporation of India is being considered by the banks board. The aforesaid proposal is placed before the board for approval by circulation. The announcement was made after market hours yesterday, 4 October 2016.

HDFC announced that the profit on sale of investments declined 60.41% to Rs 19 crore in Q2 September 2016 over Q2 September 2015. Income from dividend rose 7.29% to Rs 456 crore in Q2 September 2016 over Q2 September 2015. The company, under the loan assignment route sold loans amounting to Rs 1939 crore in Q2 September 2016 to HDFC Bank. HDFC sold loans amounting to Rs 13086 crore in the preceding twelve months. The company is scheduled to announce its Q2 September 2016 results on 26 October 2016. The announcement was made after market hours yesterday, 4 October 2016.

Shriram City Union Finance announced that it intends to raise funds through allotment of 1,000 secured non-convertible redeemable debentures aggregating to Rs 100 crore on private placement basis. The announcement was made after market hours yesterday, 4 October 2016.

AstraZeneca Pharma India clarified after market hours yesterday, 4 October 2016 with respect to news item titled Embassy buys 10 acre land in Bengaluru for Rs 255 crore that it has not sold any of its land held by it and that the news item does not pertain to the company.

Mahindra CIE Automotive after market hours yesterday, 4 October 2016 in its clarification with respect to news item titled Mahindra CIE amongst others interested in Amtek Autos overseas assets, has denied any such negotiations.

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