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M&M extends losses on plans of subscribing to proposed rights issue of subsidiary
Nov 11,2016

The announcement was made during market hours today, 11 November 2016.

Meanwhile, the S&P BSE Sensex was down 519.96 points or 1.89% at 26,997.72.

More than usual volumes were witnessed on the counter. On BSE, so far 2.28 lakh shares were traded in the counter as against average daily volume of 67,127 shares in the past one quarter. The stock hit a high of Rs 1,318 and a low of Rs 1,285 so far during the day. The stock had hit a record high of Rs 1,508.80 on 9 August 2016. The stock had hit a 52-week low of Rs 1,092 on 12 February 2016. The stock underperformed the market over the past one month till 10 November 2016, declining 4.12% compared with 2.01% fall in the Sensex. The scrip also underperformed the market in past one quarter, shedding 8.74% as against Sensexs 0.93% fall.

The large-cap company has equity capital of Rs 310.55 crore. Face value per share is Rs 5.

M&M said that the board of directors of the company approved investment of an amount not exceeding Rs 165 crore, in one or more tranches by subscribing to the proposed rights issue of Mahindra Lifespace Developers (MLDL). MLDL, a listed subsidiary of M&M on 27 October 2016 had said that its board approved raising funds by rights issue aggregating to Rs 300 crore.

Shares of MLDL shed 1.89% to Rs 406.45.

Separately, M&Ms net profit rose 27.08% to Rs 1163.27 crore on 16.98% rise in total income to Rs 12071.13 crore in Q2 September 2016 over Q2 September 2015. M&Ms combined net profit of M&M and Mahindra Vehicle Manufacturers Limited (MVML) rose 29% to Rs 1253 crore on 18% increase in gross revenue and other income to Rs 12049 crore in Q2 September 2016 over Q2 September 2015. The result was announced during market hours today, 11 November 2016.

MVML was set up as a 100% subsidiary of M&M with a view to sourcing contemporary products for expanding the market offerings of the company. Hence it is a critical part of M&Ms business and only the combined results of M&M and MVML (combined entity) can provide a comprehensive view of the companys performance.

M&M in its outlook said that Indias macro economic story is slowly but surely taking shape although data on industrial production and slow trade growth continued to act as ceilings to Indias growth. The IMF avers that in the current n++ and projected n++ global scenario, India will continue to standout with the fastest growth rate. And this prognosis is not without reason. After two years of sub-par rainfall, this years monsoon has been abundant and well spread which will help revive farm income and push up private consumption. The first advance estimates released by the agriculture ministry for kharif crops this year suggests a record output, higher by 9%. Higher soil moisture due to good monsoon also augurs well for the Rabi crop. Higher crop output will help improve spends on agri-inputs and services. Moreover, prices of key agricultural inputs have stabilized which signals that farmer balance sheets are on the mend now and this will help revive the overall rural economy.

Importantly, there is discernible traction on reforms including GST which augurs well for Indias growth trajectory. Moreover, there are signs of demand recovery manifesting through broader consumption pick-up in growth rates in automobile sales, air passenger traffic and retail loans. The Seventh Pay Commission and the OROP scheme award has put money in the pockets of government employees and pensioners which will further help demand. The lagged effects of interest rate cuts by the Reserve Bank of India (RBI) along with the increased transmission of lower interest rates will also be supportive of consumption. All of these bode well for broad-based consumption led growth in the coming quarters, M&M added.

M&M enjoys a leadership position in tractors and utility vehicles in India.

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Alkem Laboratories fixes record date for interim dividend
Nov 11,2016

Alkem Laboratories has fixed 24 November 2016 as the Record Date for the purpose of Payment of Interim Dividend.

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Board of Navneet Education approves buyback of shares upto Rs 58.21 crore
Nov 11,2016

Navneet Education announced that the Board of Directors of the Company at its meeting held on 11 November 2016, has approved the buyback up to 46,57,000 fully paid-up equity shares of face value of Rs. 2 (Rupees Two Only) each of the Company (Equity Shares) representing up to 1.95% of the total Fully Paid-up Equity Share Capital of the Company at a price of Rs. 125/- (Rupees One Hundred and Twenty Five only) per Equity Share (Buyback Price) (including premium of Rs. 123/- per Equity Share) payable in cash for an aggregate amount of up to Rs. 58,21,25,000 (Rupees Fifty Eight Crores Twenty One Lacs Twenty Five Thousand Only) (excluding companys transaction costs viz. brokerage, securities transaction tax, service tax, stamp duty, etc.) (Buyback Size), which is 9.27% of the fully paid-up equity share capital and free reserves as per the latest audited balance sheet of the Company for the financial year ended 31 March 2016 on a proportionate basis through the tender offer as prescribed under the Buyback Regulations, to all of the shareholders/beneficial owners who hold Equity Shares as of a Record Date (as defined below) .

The Buyback Size does not include any expenses incurred or to be incurred for the Buyback like filing fees payable to the Securities and Exchange Board of India, fees and charges payable to Stock Exchanges, public announcement publication expenses, printing and dispatch expenses and other incidental and related expenses.

Members of the Promoter and Promoter Group of the Company have indicated their intention to participate in the proposed buyback.

The public announcement setting out the process, timelines and other requisite details will be released in due course in accordance with the Buyback Regulations. The Company has formed a Buyback Committee to do all such acts, deeds, matters and things as it may, in its absolute discretion, deem necessary, expedient, usual or proper in connection with the proposed buyback.

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GRP appoints CFO and announces change in KMP
Nov 11,2016

GRP announced that Sanjay Bafna has been appointed as Chief Financial Officer of the Company with effect from 10 November 2016.

Further, Ganesh Ghangurde who is the existing President, Chief Financial Officer and Company Secretary has been redesignated as President and Company Secretary with effect from 10 November 2016.

Both the above changes have been approved at the Board Meeting of the Company held on 10 November 2016.

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Tirupati Inks to announce September quarter and half year results
Nov 11,2016

Tirupati Inks announced that the meeting of the Board of Directors of the Company is scheduled to be held on 12 November 2016, inter alia, to consider and approve the Unaudited Financial Results of the Company, for the Quarter and Half Year Ended 30 September 2016.

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Volumes jump at Apcotex Industries counter
Nov 11,2016

Apcotex Industries clocked volume of 7.73 lakh shares by 14:06 IST on BSE, a 160.25-times surge over two-week average daily volume of 5,000 shares. The stock rose 1.66% at Rs 333.90.

Bata India notched up volume of 2.61 lakh shares, a 8.79-fold surge over two-week average daily volume of 30,000 shares. The stock was down 5.85% at Rs 434.65.

Greenlam Industries saw volume of 1 lakh shares, a 6.67-fold surge over two-week average daily volume of 15,000 shares. The stock tumbled 5% at Rs 698.

Pidilite Industries clocked volume of 1.90 lakh shares, a 4.27-fold surge over two-week average daily volume of 44,000 shares. The stock was down 4.04% at Rs 640.70.

Yes Bank saw volume of 7.53 lakh shares, a 3.7-fold rise over two-week average daily volume of 2.03 lakh shares. The stock tumbled 5% at Rs 1,226.20.

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M&M drops after reporting Q2 results
Nov 11,2016

The result was announced during market hours today, 11 November 2016.

Meanwhile, the S&P BSE Sensex was down 472.18 points or 1.72% at 27,055.09.

More than usual volumes were witnessed on the counter. On BSE, so far 90,592 shares were traded in the counter as against average daily volume of 67,127 shares in the past one quarter. The stock hit a high of Rs 1,318 and a low of Rs 1,285.20 so far during the day. The stock had hit a record high of Rs 1,508.80 on 9 August 2016. The stock had hit a 52-week low of Rs 1,092 on 12 February 2016. The stock underperformed the market over the past one month till 10 November 2016, declining 4.12% compared with 2.01% fall in the Sensex. The scrip also underperformed the market in past one quarter, shedding 8.74% as against Sensexs 0.93% fall.

The large-cap company has equity capital of Rs 310.55 crore. Face value per share is Rs 5.

M&M enjoys a leadership position in tractors and utility vehicles in India.

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Siddhi Vinayak Shipping Corporation to announce September half year results
Nov 11,2016

Siddhi Vinayak Shipping Corporation announced that the Meeting of the Board of Directors of the Company will be held on 14 November 2016to inter alia consider and approve the unaudited financial result for the half year ended as on 30 September 2016.

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Maithan Alloys intimates of suspension of production at its Byrnihat Unit
Nov 11,2016

Maithan Alloys announced that captive power plant of the Companys Byrnihat Unit (Meghalaya) catering power requirement of the unit, had developed a snag resulting in stoppage of the production.

On inspection it has been ascertained that boiler tubes have leaked and it is estimated that production in the unit shall remain suspended for about a month.

The Byrnihat Unit contributes around 10% of the total revenue of the Company.

There is no insurance cover for the loss of production.

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Inventure Growth & Securities reports standalone net profit of Rs 3.42 crore in the September 2016 quarter
Nov 11,2016

Net profit of Inventure Growth & Securities reported to Rs 3.42 crore in the quarter ended September 2016 as against net loss of Rs 5.36 crore during the previous quarter ended September 2015. Sales rose 12.96% to Rs 3.05 crore in the quarter ended September 2016 as against Rs 2.70 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales3.052.70 13 OPM %158.36-211.85 - PBDT5.28-5.26 LP PBT5.07-5.48 LP NP3.42-5.36 LP

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Asit C Mehta Financial Services reports standalone net profit of Rs 0.04 crore in the September 2016 quarter
Nov 11,2016

Net profit of Asit C Mehta Financial Services reported to Rs 0.04 crore in the quarter ended September 2016 as against net loss of Rs 0.71 crore during the previous quarter ended September 2015. Sales rose 218.87% to Rs 1.69 crore in the quarter ended September 2016 as against Rs 0.53 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales1.690.53 219 OPM %76.9228.30 - PBDT0.38-0.63 LP PBT0.04-0.74 LP NP0.04-0.71 LP

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State Bank of India consolidated net profit declines 99.59% in the September 2016 quarter
Nov 11,2016

Net profit of State Bank of India declined 99.59% to Rs 20.70 crore in the quarter ended September 2016 as against Rs 4991.70 crore during the previous quarter ended September 2015. Total Operating Income rose 2.38% to Rs 56287.87 crore in the quarter ended September 2016 as against Rs 54977.28 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Total Operating Income56287.8754977.28 2 OPM %35.5057.43 - PBDT-190.677747.23 PL PBT-190.677747.23 PL NP20.704991.70 -100

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Haldyn Glass standalone net profit rises 632.50% in the September 2016 quarter
Nov 11,2016

Net profit of Haldyn Glass rose 632.50% to Rs 2.93 crore in the quarter ended September 2016 as against Rs 0.40 crore during the previous quarter ended September 2015. Sales rose 46.63% to Rs 46.38 crore in the quarter ended September 2016 as against Rs 31.63 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales46.3831.63 47 OPM %16.025.91 - PBDT7.211.95 270 PBT4.430.54 720 NP2.930.40 633

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Kandagiri Spinning Mills reports standalone net loss of Rs 4.30 crore in the September 2016 quarter
Nov 11,2016

Net Loss of Kandagiri Spinning Mills reported to Rs 4.30 crore in the quarter ended September 2016 as against net loss of Rs 1.81 crore during the previous quarter ended September 2015. Sales declined 59.18% to Rs 17.83 crore in the quarter ended September 2016 as against Rs 43.68 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales17.8343.68 -59 OPM %4.886.78 - PBDT-2.390.03 PL PBT-4.30-1.86 -131 NP-4.30-1.81 -138

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Eureka Industries reports standalone net loss of Rs 0.01 crore in the September 2016 quarter
Nov 11,2016

Net loss of Eureka Industries reported to Rs 0.01 crore in the quarter ended September 2016. There were no net profit/loss reported during the previous quarter ended September 2015. There were no Sales reported in the quarter ended September 2016 and during the previous quarter ended September 2015.

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