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Caplin Point scales record high after stellar Q4 outcome
May 11,2017

The result was announced after market hours yesterday, 10 May 2017.

Meanwhile, the S&P BSE Sensex was up 62.87 points or 0.21% at 30,311.04. The S&P BSE Mid-Cap index was up 95.51 points, or 0.64% at 15,045.05.

On BSE, so far 67,000 shares were traded in the counter as against average daily volume of 7,391 shares in the past one quarter. The stock hit a high of Rs 466.95 in intraday trade so far, which is a record high for the counter. The stock hit a low of Rs 430.80 so far during the day. The stock hit a 52-week low of Rs 184 on 12 May 2016.

The mid-cap company has equity capital of Rs 15.12 crore. Face value per share is Rs 2.

Caplin Points earnings before interest, taxation, depreciation and amortization (EBITDA) rose 116% to Rs 47.64 crore in Q4 March 2017 over Q4 March 2016. The companys EBITDA margin surged to 40% in Q4 March 2017 from 27% in Q4 March 2016.

Caplin Point on 8 May 2017 announced that the company has received the Establishment Inspection Report (EIR) from USFDA (United States Food and Drug Administration) for inspection carried out between 21 October 2016 to 27 October 2016, at its sterile injectable plant at Gummidopoondi, Tamil Nadu (TN).

Caplin Point Laboratories is a niche pharmaceutical company, catering predominantly to emerging markets of Latin America and Africa. The company caters to a complete range of finished dosage forms.

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Saraswati Commercial (India) to hold board meeting
May 11,2017

Saraswati Commercial (India) will hold a meeting of the Board of Directors of the Company on 22 May 2017.

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HCL Technologies fixes record date for interim dividend
May 11,2017

HCL Technologies has fixed 25 May 2017 as record date for determining the entitlement of the shareholders to interim dividend of Rs 6 per share for FY 2017-18.

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HCL Technologies to pay interim dividend
May 11,2017

HCL Technologies announced that interim dividend for FY 2017-18 shall be paid on 02 June 2017.

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Remove novel hardware, requirement in prevailing CRI guidelines: ASSOCHAM plea
May 11,2017

Apex industry body ASSOCHAM has urged the Prime Minister Narendra Modi for bringing out appropriate amendments to the prevailing computer related invention (CRI) guidelines that have led to an instable and unpredictable environment in Indias information, communication and technology (ICT) sector.

n++The present CRI guidelines have put a blanket ban on patenting of computer related inventions unless a novel hardware, is also invented thereby impacting the entire ICT sector and allied industries that contribute immensely to Indias gross domestic product (GDP) and generate significant employment,n++ highlighted ASSOCHAM in a communication addressed to Mr Nripendra Misra, Principal Secretary in the PMO (Prime Ministers Office).

n++The lack of intellectual property (IP) protection opportunities in the area of CRI will not only effect investment but will also have a direct impact on employment and job growth related opportunities in the ICT industry,n++ said ASSOCHAM secretary general, Mr D.S. Rawat.

n++For India, to become a leading global player in areas of research and development (R&D) and software products, it is imperative that IP protection is made available at par with global standards,n++ said Mr Rawat.

The ASSOCHAM letter also highlighted how the PM recently launched BHIM-Adhaar app aiming to bring about innovation for digital payments and recommended that such technology be patented.

n++It is abundantly clear that prevailing guidelines are not aligned to Digital India, initiative and are also not in compliance with Indian Patent Law and Indian Judicial Dictum,n++ it added.

As such presently the CRI guidelines do not support objectives of various schemes launched by the government.

The contribution of industrial sector to Indias GDP is close to 25 per cent and this is all applied research utilising well established scientific principles, mathematical formulas and algorithms to research into its practical industrial application but the CRI guidelines place complete restriction on patenting of the same.

Thus entire 25 per cent of its contribution to countrys GDP is now at stake due to the prevailing scenario vis-n++-vis CRI guidelines, noted the ASSOCHAM letter.

Further, it is rare to invent any improvements of new product without the use of software as all the forefronts of new technologies be it robotics, internet of things, ICT, cloud technology, genomics and renewable or alternative energy are implemented by software and such inventions are patentable outside but not in India.

n++Therefore, investors will not be encouraged to make inventions in India and even start-ups will not be encouraged and motivated to innovate in India if we continue with the present CRI guidelines released in February 2016 and it will be death knell to all software implemented innovations in India,n++ highlighted ASSOCHAM.

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ICICI Bank in focus on offshore borrowing plan
May 11,2017

ICICI Bank said that the committee of executive directors at its meeting held on 10 May 2017, approved the proposed offshore borrowing plan for the financial year 2017-18. The announcement was made after market hours yesterday, 10 May 2017.

Two-wheeler major Hero MotoCorps net profit fell 13.9% to Rs 717.75 crore on 7.9% decline in net sales to Rs 6915.20 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours yesterday, 10 May 2017.

Hero MotoCorp said it took a proactive approach towards the launch of BS IV-compliant vehicles, and liquidated large BS III inventory, leading up to 29 March 2017. In the last two days of the month, the company took some tactical steps to assist its dealers and incentivise the customers with an objective to liquidate the remaining BS Ill stocks, resulting in a one-time impact to the margins of the fourth quarter.

EBITDA (earnings before interest, taxes, depreciation and amortization) margin stood at 12.79% in Q4 March 2017, lower than 14.66% in Q4 March 2016.

Hero MotoCorps retail sales have been outpacing wholesale numbers, as a result of which the company has now been able to maintain healthy dealer inventory. Meanwhile, input costs have been on an upward trend. To partially offset the commodity costs, Hero MotoCorp raised prices ranging from Rs 500 to Rs 2200 on some of the models, with effect from 1 May 2017.

Hindalco Industries will be watched. Novelis Inc, an overseas subsidiary of Hindalco Industries, announced 46% jump in net income at $73 million in Q4 March 2017. Net sales increased 9% to $2.6 billion for the fourth quarter of fiscal 2017, driven by higher average aluminum prices and increased shipments of higher conversion premium products, including a 26% increase in automotive shipments.

Mahindra & Mahindra (M&M) said that India Ratings and Research (Ind-Ra) has affirmed the companys long-term issuer rating at IND AAA. The outlook is stable. Ind-Ra continues to take a consolidated view of M&M after excluding its financial services subsidiary Mahindra & Mahindra Financial Services. The announcement was made after market hours yesterday, 10 May 2017.

Edelweiss Financial Services said that ratings agency CRISIL has assigned the rating of CRISIL A1+ (CRISIL A one plus) to the proposed short term debt issue aggregating to Rs 5000 crore of the company. The announcement was made after market hours yesterday, 10 May 2017.

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Pan India Corporation appoints MD
May 10,2017

Pan India Corporation announced that Omprakash Ramashankar Pathak has been appointed as Managing Director of the Company with effect from 08 May 2017.

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Tata Teleservices (Maharashtra) announces subscriber numbers
May 10,2017

Tata Teleservices (Maharashtra) announced that total subscribers stood at 84,95,125 as on 30 April 2017.

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Edelweiss Financial Services gets ratings assigned for ST debt issue
May 10,2017

Edelweiss Financial Services announced that CRISIL has assigned the rating of CRISIL A1+ (CRISIL A one plus) to the proposed Short Term Debt Issue aggregating to Rs. 5,000 crore of the Company.

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Board of Chartered Logistics appoints director
May 10,2017

Chartered Logistics announced that the Board of Directors of the Company at its meeting held on 10 May 2017 has approved the appointment of Mittal P. Mistry as an Additional Independent Director and Woman Director of the company with effect from 10 May 2017.

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Orient Green Power Company provides update on sale of Green Power (Maharashtra)
May 10,2017

Orient Green Power Company announced that the Company had earlier signed a Share Purchase Agreement with Sindicatum Captive Energy Singapore towards sale of 100% equity shares held in Orient Green Power (Maharashtra) (OGPML). However Padmashri Dr. D.Y. Patil Sahakari Sakhar Karkhana (PDDPSSKL) exercised its option of first right to purchase the Shares of OGPML as per the terms of Build, Own Operate and Transfer (BOOT) Agreement signed with them.

As a result, the SPA signed with Sindicatum Captive Energy Singapore stands cancelled and further an Memorandum of Understanding ( MoU) has been signed between OGPML and PDDPSSKL for a sale of 20 MW CO-Generation Power Plant at GAGANBAWDA, Kolhapur.

The Board has approved the same through a circular resolution.

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Jindal Worldwide appoints director
May 10,2017

Jindal Worldwide announced that the Board of Directors at its meeting held on 10 May 2017 has approved the appointment of Shrikant N. Jhaveri as a Additional Director under the category of the Independent Director of the Company ,who shall hold office upto the date of the ensuing Annual General Meeting of the Company and be regularized in the said meeting subject to the approval of shareholders.

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Kamdhenu gets reaffirmation of credit ratings
May 10,2017

Kamdhenu announced that the credit rating of the Company has been reaffirmed as CRISIL BBB+ and CRISIL A2 and outlook is revised from Negative to Stable by the credit rating agency CRISIL

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Board of Tata Motors appoints director
May 10,2017

Tata Motors has appointed Mr Om Prakash Bhatt as Additional and Independent Director, with effect from 09 May 2017 for a tenure of 5 years from date of such appointment at board meeting held on 09 May 2017.

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Board of Kothari Industrial Corporation appoints director
May 10,2017

Kothari Industrial Corporation announced that the Board of Directors of the Company at its meeting held on 21 April 2017 has appointed J.Rafiq Ahmed as Additional Director of the company.

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