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NTPC gains after Jharkhand coal mine kicks off operation
Feb 17,2017

Meanwhile, the BSE Sensex was up 204.12 points, or 0.72%, to 28,505.39.

On the BSE, so far 75,000 shares were traded in the counter, compared with average daily volumes of 3.82 lakh shares in the past one quarter. The stock had hit a high of Rs 170.90 and a low of Rs 169.35 so far during the day.

The stock hit a 52-week high of Rs 177.80 on 27 January 2017. The stock hit a 52-week low of Rs 116.80 on 25 February 2016. The stock had underperformed the market over the past 30 days till 16 February 2017, falling 1.53% compared with the 3.83% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 7.25% as against Sensexs 8.23% rise.

The large-cap company has equity capital of Rs 8245.46 crore. Face value per share is Rs 10.

NTPC announced after market hours yesterday, 16 February 2017, that the first rake of coal was flagged off on 16 February 2017 from the companys first coal mine, Pakri Barwadih in Jharkhand. This coal mine will have ultimate capacity of 18 million metric tonne per annum. In the next year, around 2-3 million metric tonne of coal is likely to be produced. As a basket source, coal will be supplied to different power stations of NTPC from this mine.

NTPCs net profit fell 7.5% to Rs 2468.72 crore on 11.1% rise in net sales to Rs 19287.47 crore in Q3 December 2016 over Q3 December 2015.

NTPC, Indias largest power company, has presence in the entire value chain of power generation business.

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IDBI Bank trims intraday gains after announcing fund raising plan
Feb 17,2017

The announcement was made after market hours yesterday, 16 February 2017.

Meanwhile, the S&P BSE Sensex was up 217.67 points or 0.77% at 28,518.94

On BSE, so far 3.95 lakh shares were traded in the counter as against average daily volume of 4.39 lakh shares in the past one quarter. The stock trimmed intraday gains. The stock hit a high of Rs 82.10 and a low of Rs 80.85 so far during the day. The stock had hit a 52-week high of Rs 86.50 on 6 February 2017. The stock had hit a 52-week low of Rs 50.35 on 17 February 2016.

The large-cap bank has equity capital of Rs 2058.82 crore. Face value per share is Rs 10.

IDBI Bank reported net loss of Rs 2254.96 crore in Q3 December 2017, higher than net loss of Rs 2183.68 crore in Q3 December 2016. Total income fell 3.5% to Rs 7104.21 crore in Q3 December 2016 over Q3 December 2015.

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Cadila Healthcare hits record high
Feb 17,2017

Meanwhile, the S&P BSE Sensex was up 200.33 points or 0.71% at 28,501.60.

On the BSE, 8.28 lakh shares were traded on the counter so far as against the average daily volumes of 1.51 lakh shares in the past two weeks. The stock had hit a high of Rs 460 so far during the day, which is also its record high. The stock hit a low of Rs 438.10 so far during the day. The stock had hit a 52-week low of Rs 305 on 12 April 2016.

Shares of Cadila Healthcare have rallied 25.4% in two trading sessions from its close of Rs 358.05 on 15 February 2017 after the company during market hours yesterday, 16 February 2017 said that the United States Food and Drug Administration (USFDA) issued no observation (483) after concluding the inspection of the companys Moraiya facility from 6 February 2017 to 15 February 2017. The stock had rallied 19.94% to settle at Rs 429.45 yesterday, 16 February 2017.

Cadila Healthcares consolidated net profit fell 34.6% to Rs 281.60 crore on 0.8% decrease in net sales to Rs 2249.60 in Q3 December 2016 over Q3 December 2015.

Cadila Healthcare is an innovative, global pharmaceutical company that discovers, develops, manufactures and markets a broad range of healthcare therapies.

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IRB Infrastructure Developers provides update on subsidiary - IRB Infrastructure
Feb 17,2017

IRB Infrastructure Developers announced that IRB Infrastructure, wholly owned subsidiary of the Company and an Investment Manager of IRB InvIT Fund, has appointed Rajinder Pal Singh as an additional director (Independent) and Chairman of the board of Directors of IRB Infrastructure with effect from 14 February 2017.

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India Ratings Maintains Stable Outlook for Auto for FY18
Feb 17,2017

India Ratings & Research (Ind-Ra) has maintained a stable outlook on the auto sector for FY18. This is based on the expectation of a moderate yoy volume growth of 6%-9% for the passenger vehicle (PV) segment, and despite an expected negative 2% to 2% slowdown in the commercial vehicle (CV) segment. The agency believes that growth in the PV segment would be driven by 15%-20% yoy volume increase in utility vehicles (UV), with cars likely to register a lower growth of 3%-5% yoy. The slowdown in the CV segment is expected to be on account of a 9%-12% decline in medium and heavy commercial vehicles (MHCVs), partially offset by a 6%-9% growth in light commercial vehicles (LCVs).

Another factor supporting the agencys stable sector outlook is the continued strong financial profile of the 10 listed companies in its sample set. The mean FY16 EBITDA margin for the agencys sample set was 12.4% (9MFY16: 12%), with EBITDA gross interest cover maintained at above 100x. In Ind-Ras assessment, mean leverage (net debt/EBITDA) would continue to be maintained below 1x in FY17 and FY18. The credit profile of the companies outside the sample set (comprising mostly subsidiaries of overseas auto companies) would benefit from the support potentially available from strong parent companies.

Ind-Ra believes that the governments demonetisation drive had a limited impact on the auto sector as most of the auto original equipment manufacturers have countered build-up of channel inventory through higher discounts without altering their production schedules with vendors. Moreover, the impact of demonetisation was restricted largely to the two-wheeler segment, given the relatively higher proportion of cash transactions considering the low ticket size of purchases versus PVs and CVs.

In the agencys assessment, MHCV volumes would decline in FY18 due to depletion of replacement demand, inconsistent Index of Industrial Production, and sales volumes artificially propped up in FY17 due to pre-emptive purchases to avoid paying higher prices from April 2017, when vehicles need to be BSIV compliant. Contrarily, LCV volumes would continue to be supported by demand for last mile transportation, arising from a substantial increase in the online retail sales.

Ind-Ra estimates domestic scooter volumes would grow by 15%-18% in FY18 (close to the estimated FY17 growth rate), but lower than the previous years due to the base effect. The agency expects motorcycle volumes to recover slightly over April-December 2016 yoy growth level of 6.3%, with increased currency in circulation, leading to a demand revival in 4QFY17 and FY18.

Furthermore, the agency believes that the Goods and Service Tax (GST) will be largely neutral for the industry, as reduction in logistics and supply chain costs would be partly offset by an increase in the effective tax rate.

Outlook Sensitivities

Positive Outlook Unlikely: Given the structural issues of overcapacity and intensifying competition, Ind-Ra does not envisage a positive outlook revision in the event of a revival in sales. However, curtailment or postponement of planned capacity additions, coupled with sales volumes higher than the agencys expectations, could have a positive impact on the credit profile of the sector.

Weak Demand, External Shock: A sustained reduction in CV volumes due to slowdown in industrial production, together with moderation in PV volumes due to rising fuel prices and weak consumer sentiments among others, could have a negative impact on the sector outlook.

Additionally, any external shock pressuring the rupee and a subsequent spurt in the interest rate may have a moderate impact on the sector, thus impacting the volumes, as well as the credit profile of auto companies.

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Bank of India announces appointment of Executive Director
Feb 17,2017

Bank of India announced that, in the exercise of the powers conferred by clause (a) of sub-section (3) of Section 9 of The Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970/1980 read with sub clause (1) of clause 3 and sub clause (1) of clause 8 of The Nationalized Banks (Management and Miscellaneous Provisions) Scheme, 1970/1980, the Central Government has appointed Neelam Damodaran, General Manager, Bank of Baroda as Executive Director of Bank of India for a period upto 30 November 2019 i.e. the date of his superannuation with effect from the date of his taking over of the charge of the post or until further order, whichever is earlier.

He has taken charge on 16 February 2017.

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HDFC Bank intimates of removal of foreign investment restrictions
Feb 17,2017

HDFC Bank announced about the RBI Press Release dated 16 February 2017 notifying that the aggregate foreign shareholding through American Depository Receipts/ Global Depository Receipts/ Foreign Institutional Investors (FIIs)/ Foreign Portfolio Investors (FPIs)/ Foreign Direct Investments (FDI)/ Non-Resident Indians (NRIs)/ Persons of Indian Origin (PIOs) in the Bank has gone below the prescribed limit stipulated under the extant FDI policy. Hence the restrictions placed on the purchase of shares of the Bank have been withdrawn with immediate effect.

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Board of MSR India approves change in directorate and change in CFO
Feb 17,2017

MSR India announced that the Board of Directors of the Company at its meeting held on 17 February 2017 has approved the following -

Resignation of Priyanka Palacharla, Director
Resignation of Krishna Reddy, CFO
Appointment of Somala Bharati as Additional Director
Appointment of Vara Prasad as CFO

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Oracle Financial Services Software allots 304 equity shares
Feb 17,2017

Oracle Financial Services Software announced that the ESOP Allotment Committee of the Company at its meeting held on 17 February 2017, has allotted 304 equity shares of face value of Rs. 5/- each to the eligible Employees of the Company who have exercised their OFSS Stock Units under the OFSS Stock Plan 2014. These shares rank pari passu with the existing equity shares of the Company in all respects. In this allotment, no shares are allotted to Directors of the Company.

With this allotment, the paid up capital of the Company has increased to Rs. 425,406,495.00 divided into 85,081,299 equity shares of face value of Rs. 5/- each.

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Biocon gains after USFDA accepts biosimilar pegfilgrastim for review
Feb 17,2017

The announcement was made after market hours yesterday, 16 February 2017.

Meanwhile, the BSE Sensex was up 156.94 points, or 0.55%, to 28,458.21.

On the BSE, so far 33,000 shares were traded in the counter, compared with average daily volumes of 71,907 shares in the past one quarter. The stock had hit a high of Rs 1,123 and a low of Rs 1,105 so far during the day. The stock hit a 52-week low of Rs 454.30 on 26 February 2016.

The stock had outperformed the market over the past 30 days till 16 February 2017, rising 10.40% compared with the 3.83% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 25.60% as against Sensexs 8.23% rise.

The large-cap company has equity capital of Rs 100 crore. Face value per share is Rs 5.

The US Food and Drug Administration (US FDA) has accepted Mylans Biologics License Application (BLA) for MYL44O1H, a proposed biosimilar to Neulasta (pegfilgrastim), for filingthrough the 351(k) pathway. The proposed biosimilar to Neulasta is used to reduce the duration of neutropenia (low count of neutrophils, a type of white blood cells) and the incidence of fever associated with neutropenia in adult patients treated with chemotherapy n++n certain types of cancer. The FDA goal date set under the Biosimilar User Fee Act (BsUFA) is 9 October 2017, the company said.

Biocon and Mylan are exclusive partners on a broad portfolio of biosimilars and generic insulin analogs. The proposed biosimilar pegfilgrastim is one of the six biologic products co-developed by Mylan and Biocon for the global marketplace. Mylan has exclusive commercialization rights for the proposed biosimilar pegfilgrastim in the U.S., Canada, Japan, Australia, New Zealand and in the European Union and European Free Trade Association countries. Biocon has co-exclusive commercialization rights with Mylan for the product in the rest of the world.

On a consolidated basis, net profit of Biocon rose 64.55% to Rs 171.30 crore on 29.59% rise in net sales to Rs 1022.50 crore in Q3 December 2016 over Q3 December 2015.

Biocon is Indias largest and fully-integrated, innovation-led biopharmaceutical company.

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Indiabulls Housing Finance and IOC gain on inclusion in Nifty 50 index
Feb 17,2017

Indiabulls Housing Finance (up 1.92%) and Indian Oil Corporation (up 1.65%), edged higher. Bharat Heavy Electricals (Bhel) (down 1.17%) and Idea Cellular (down 2.97%), edged lower.

Meanwhile, the S&P BSE Sensex was up 186.80 points or 0.66% at 28,488.07.

Bharat Heavy Electricals (Bhel) and Idea Cellular have been removed from the benchmark Nifty 50 index, NSEs index provider IISL said in a statement on Thursday, 16 February 2017. The two stocks will be replaced by Indiabulls Housing Finance and Indian Oil Corporation (IOC) instead, as part of the periodic review process. The changes will take effect from 31 March 2017, the statement added.

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Ind-Ra: Telecom Industry to Consolidate amidst Hypercompetition in FY18
Feb 17,2017

India Ratings and Research (Ind-Ra) has revised its outlook on the telecommunications services sector for FY18 to negative from stable-to-negative. The negative outlook reflects Ind-Ras expectation of longer and deeper than expected deterioration in the credit profile of telcos following the extended free services by Reliance Jio Infocomm (RJio - IND AAA/Stable).

A redistribution of market share among the existing telcos is underway as RJio gained a quick subscriber base of 72 million by January 2017 which could cross 100 million by March 2017. Rjios ability to retain market share would be driven by both pricing as well as user experience given the choice of complete reliance on voice over LTE (VoLTE) technology. The industry could witness the increase in the dual-sim phenomena in the interim. Thus the data and voice usage pattern for each telco could remain inconsistent and unpredictable. Retaining customer base will necessitate the telcos to continue to augment their capacity and coverage for superior speed and virtual network platforms.

Per capita data usage is likely to increase by about 35%-40% in FY18 to 1,250MB (FY16: 600MB; FY17-Projected: 900MB. A decline in data tariffs by 20%-30% will pull down average revenue per user despite higher volumes coming from rise in data usage. Ind-Ra expects voice revenue to moderate in FY18 on stagnant minutes of usage (MoU) and on further moderation in voice realisations which are expected to drop to 25 paisa - 28 paisa per minute from 30 paisa - 35 paisa currently. The incumbent telcos are moving towards more bundling of voice and data plans in line with RJios voice calling bundled-free with data. Blended average revenue per user (ARPUs) are slated to decline by 10% in FY18, according to Ind-Ra.

Credit profile is likely to weaken in FY18 with a fall in profits and a rise in debt, due to spectrum and network-related capex. Free cash flows will be negative due to the double whammy of weaker earnings and capex. Telcos will balance debt levels through monetising non-core assets in order to mitigate the pressure on credit profiles.

The industry has lost approximately 20% revenues due to free services by RJio. Consolidation in the industry will help a quicker return of pricing power.. The proposed merger of Vodafone Mobile Services Limited (Vodafone - INDAAA/RWE) and Idea Cellular Ltd (Idea) will be positive for the telecom industry by eliminating duplication of spectrum and infrastructure capex. Smaller telcos may not be able to sustain cash burn by operating independently and are looking for exit options. The Rating Outlook for FY18 for the rated entities is Stable to Negative despite industry outlook being negative.

OUTLOOK SENSITIVITIES

Stabilisation of the pricing would be key driver to revise the sector outlook back to stable. Return of pricing power and/or substantially higher data volumes are critical to generate the desired return on large investments made into the sector. Clarity on the market share will also be a driver to reassess business profile of telcos.

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Intellect SEEC forms partnership with Safety Compass
Feb 17,2017

Intellect SEEC, the insurance software division of Intellect Design Arena announced partnership with The Safety Compass, innovators of real time safety management software that uses augmented reality to reduce work related incident, injuries and death.

This partnership enables The Safety Compass smartphone application to be easily distributed along with Intellect SEECs machine learning product Risk Analyst to determine safety hazards and risks at the workplace for commercial companies.

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Siemens inches up after securing order
Feb 17,2017

The announcement was made after market hours yesterday, 16 February 2017.

Meanwhile, the S&P BSE Sensex was up 160.65 points or 0.57% at 28,461.92.

On the BSE, 3,057 shares were traded on the counter so far as against the average daily volumes of 23,278 shares in the past one quarter. The stock had hit a high of Rs 1,221 and a low of Rs 1,205 so far during the day.

The stock had hit a 52-week high of Rs 1,355.40 on 25 July 2016 and a 52-week low of Rs 973.20 on 29 February 2016. The stock had underperformed the market over the past one month till 16 February 2017, advancing 2.58% compared with the Sensexs 3.71% rise. The scrip had, however, outperformed the market over the past one quarter advancing 8.08% as against the Sensexs 7.61% rise.

The large-cap company has equity capital of Rs 71.22 crore. Face value per share is Rs 2.

The latest order secured by Siemens is for design, engineering, procurement, manufacture, supply and commissioning of equipment for a substation at Khandwa in Madhya Pradesh and for bay extension equipment at Dhule in Maharashtra for Khargone Transmission.

Siemens net profit rose 43.8% to Rs 160.01 crore on 1.4% decline in net sales to Rs 2234.38 crore in Q1 December 2016 over Q1 December 2015.

Siemens focuses on the areas of electrification, automation and digitalization. As on 31 December 2016, Siemens AG held 75% stake in Siemens.

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Eveready Industries gains as board to consider business re-organisation
Feb 17,2017

The announcement was made after market hours yesterday, 16 February 2017.

Meanwhile, the S&P BSE Sensex was up 142.79 points, or 0.5%, to 28,444.06

On BSE, so far 321 shares were traded in the counter, compared with an average volume of 9,720 shares in the past one quarter. The stock hit a high of Rs 255 and a low of Rs 249.50 so far during the day. The stock hit a 52-week high of Rs 291 on 30 August 2016. The stock hit a 52-week low of Rs 190 on 29 December 2016.

The small-cap company has an equity capital of Rs 36.34 crore. Face value per share is Rs 5.

Net profit of Eveready Industries India rose 65.37% to Rs 35.19 crore on 1.7% rise in net sales to Rs 329.31 crore in Q3 December 2016 over Q3 December 2015.

Eveready Industries India is the market leader of dry cell batteries. Apart from dry cell batteries, the company is also the market leader in flashlights. Eveready also markets LED, CFL, GLS lamps & other lighting products and rechargeable lanterns & devices, and packet tea.

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