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Melstar Information Technologies announces cessation of CFO
Feb 16,2017

Melstar Information Technologies announced that with the cessation of employment of Anil Korpe, He ceased as Chief Financial Officer & Compliance Officer with the close of the business hours of the 15 February 2017.

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Asia Pacific Market: Stocks edge to new 19-month highs
Feb 16,2017

Asia Pacific share market edged to new 19-month highs on Thursday, 16 February 2017, with gains underpinned by an ongoing rally on Wall Street, even as rising expectations of a March rate increase by the Federal Reserve kept investors cautious. MSCIs broadest index of Asia-Pacific shares outside Japan rose 0.2% to its highest since July 2015.

Stocks tracked Wall Street as the US market indexes pushed further into record-high territory on Wednesday, helped by upbeat retail sales data for January and ongoing optimism that President Donald Trump will cut corporate taxes.

Yesterdays data lifted the odds for a Fed rate hike in March to 42% from 30% two days ago, helped by Fed chair Janet Yellens testimony that the central bank doesnt need to wait for Trump to outline plans on fiscal stimulus before resuming rate hikes. US year-on-year inflation reached 2.5% for January, the fastest pace since 2012.

In Commodities- In commodity markets, oil prices softened as record high U.S. crude and gasoline inventories fed concerns about a global glut. U.S. crude was down 0.1% at $53.07 a barrel and Brent was flat at $55.75 a barrel.

Among Asian bourses

Australia Market ends near two-year high

Australian equity market ended near two-year high on tracking positive lead from Wall Street overnight, with financial and material stocks leading gains, while the telecommunications sector proved a laggard. ASX sectoral performance was mixed, with earnings worries dragged on consumer and healthcare stocks. At the close, the benchmark S&P/ASX 200 index climbed 7.2 points, or 0.12%, of 5,816.3, the highest since early May 2015, while the broader All Ordinaries index inched up 3.9 points, or 0.07%, to 5,863.

Financial stocks were biggest contributor to the ASX rally, with Commonwealth Bank of Australia leading the gains after logging a fresh record first-half profit and pointed to a broadly positive economic backdrop for the sector. National Australia Bank, Australia & New Zealand Banking and Commonwealth Bank of Australia each added 0.7% and Westpac Banking was 1.1% higher.

The healthcare care sector also managed a rise, helped by strong gain in blood products and vaccine maker CSL after it reported a 12% rise in its half-year profit.

The telecommunication sector was pressured by biggest drag on Telstra, which lost 6.6% after the telecommunications operator said first-half earnings fell 14% as it was dented by regulatory price cuts and it trimmed income guidance for the full-year after disappointing mobile phone sales in the first six months.

Nikkei falls 0.47% on strong yen

The Japan share market settled down, as risk sentiment weighed down by yen ascent to 114 level against the dollar and skeptical about a possible March interest rate hike by the U.S. Federal Reserve, overshadowing another record close on Wall Street. The 225-issue Nikkei average shed 90.45 points, or 0.47%, to close at 19,347.53. The Topix index of all first-section issues finished down 2.62 points, or 0.17%, at 1,551.07.

Shares of Japanese exporters finished the session down due to yens advance against the U.S. dollar. The yens advance hurts exporters profits earned overseas when repatriated and dents the price competitiveness abroad of their products made in Japan. Toyota Motor ended down 0.5% to 6,457 yen, Nissan Motor fell 0.3% to 1,123.50 yen, while Mitsubishi Heavy Industries was down 2.4% at 444.90 yen. Semiconductor production-equipment maker Tokyo Electron fell 2.2% to 11,300 yen and optics-product maker Olympus lost 2.0% to Y3,940 yen.

The financial sector bucked the downward trend, tracking overseas counterparts on a rise in U.S. Treasury yields after Federal Reserve Chair Janet Yellen reiterated that she sees a solid U.S. recovery in her second day of testimony before Congress. Mitsubishi UFJ Financial Group rose 0.3% to 770.70 yen, while nonlife insurer Sompo Holdings finished up 1.7% at 4,308 yen.

Insurers rose as the prospect of a higher-yield environment increased after Federal Reserve Chairwoman Janet Yellen signaled more rate increases this year on Tuesday. Tokio Marine Holdings gained 2.2% to 5,129 yen and Dai-ichi Life Holdings rose 0.7% to 2,241 yen.

Toshiba continued stumbling, dropping 3.3% to 202.70 yen. The company has decided not to sell any stake in its chip business before the current business year ends next month, in a move that makes it certain the company will have a negative net worth at the end of the period,

Coal-Metal stocks lead China market gains

Mainland China stock market settled higher, with gains led by coal miners and metal firms, as the publication of regional governments investment targets lifted commodities markets. At the close, the blue-chip CSI300 index, which tracks large companies in Shanghai or Shenzhen, advanced 0.56% to close at 3,440.93. The Shanghai Composite Index added 0.52% to close at 3,229.62. The Shenzhen Composite Index, which tracks stocks on Chinas second exchange, increased 0.57% to 1958.11. The ChiNext Index, which tracks Chinas NASDAQ-style board of growth enterprises, drorose 0.28% to 1,897.63 points.

An index tracking Chinas major non-ferrous metals added as much as 2.8% to hit a fresh two-month high, while an index tracking coal miners gained 2.2%. Chinas high-profile One Belt, One Road initiative to link markets from Asia to Europe and its accelerated infrastructure investment at home have boosted demand for building-related resources and raw materials, including steel, cement and base metals. Shares in China Molybdenum soared by their 10% trading limit to a more than seven-month high. The stock has gained some 20% in the last month alone, and more than 30% over the past year on stronger demand for high-strength steel alloys.

From the economic news section- China should prudently manage its process of deleveraging to avoid a liquidity crisis, a debt-deflation trap and asset bubbles, the Research Bureau of the Peoples Bank of China (PBOC) said in a working paper Wednesday. China should take steps to prevent debt-deflation risks caused by excessively squeezed credit and investments, and should also curb liquidity risks and asset bubbles stemming from rapidly rising leverage ratios, noted the paper, which was published on the PBOCs website. The paper also said that markets should play the main role in deciding who to leverage and who to deleverage.

Hong Kong Stocks up on solid U.S. lead

The Hong Kong stock market climbed to best close in 18 months, thanks to an ongoing rally on Wall Street and bolstered by gains in Chinese stocks. The benchmark Hang Seng Index climbed 0.47% or 112.83 points higher to 24,107.70, the highest since August 2015 and the first close above 24,000 since September last year. The Hang Seng China Enterprises Index, or the H-share index, edged up 0.18% or 18.98 points to 10,455.02. Turnover decreased to HK$107.6 billion from HK$111 billion on Wednesday.

Stocks tracked Wall Street as the US market indexes pushed further into record-high territory on Wednesday, helped by upbeat retail sales data for January and ongoing optimism that President Donald Trump will cut corporate taxes.

Chinese banks extended their gains after data published this week showed new loans on the mainland rose to their second-highest level in history last month. China Construction Bank (CCB) rallied 2.87% to HK$6.45 following a 5% jump on Wednesday. The Bank of Communications climbed 1.62% to HK$6.28 while the Bank of China (BOC) was up 1.51% to HK$4.03.

Property counters bucked the uptrend as US Fed Chair Janet Yellen made it clear that she would speed up the rate hike pace. CK Property (01113) slipped 1.5% to HK$52. SHKP (00016) fell 0.7% to HK$108.3. Sino Land (00083) inched down 0.6% to HK$12.64.

Lenovo tumbled 6.69% to HK$4.88 after it posted a 67% drop in third-quarter net profit.

Healthcare, realty stocks push Sensex up

Indian stock market closed higher, due to heavy buying in healthcare, realty, IT and metal stocks amid firm global cues. The benchmark BSE index closed 145.71 points or 0.52% up at 28,301.27. The broader NSE index rose 53.3 points or 0.61% to 8,778.

IT stocks led the gains after Tata Consultancy Services said its board would consider a share buyback plan at a meeting next week. Shares of TCS, the countrys biggest software services exporter, gained 1.3% to their highest since September 7, 2016, heading for their 10th session of gains in 12 this month.

State Bank of India climbed 0.7% after the federal cabinet had on Wednesday approved its planned merger with five subsidiary banks.

Sun Pharmaceutical Industries rose 4.3%. Media reports that the drug maker has received approval from the U.K. regulator for generic drug Tobramycin helped the gains, dealers said.

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Australia Market ends near two-year high
Feb 16,2017

Australian equity market ended near two-year high on Thursday, 16 February 2017, on tracking positive lead from Wall Street overnight, with financial and material stocks leading gains, while the telecommunications sector proved a laggard. ASX sectoral performance was mixed, with earnings worries dragged on consumer and healthcare stocks. At the close, the benchmark S&P/ASX 200 index climbed 7.2 points, or 0.12%, of 5,816.3, the highest since early May 2015, while the broader All Ordinaries index inched up 3.9 points, or 0.07%, to 5,863.

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Nikkei falls 0.47% on strong yen
Feb 16,2017

The Japan share market settled down on Thursday, 16 February 2017, as risk sentiment weighed down by yen ascent to 114 level against the dollar and skeptical about a possible March interest rate hike by the U.S. Federal Reserve, overshadowing another record close on Wall Street. The 225-issue Nikkei average shed 90.45 points, or 0.47%, to close at 19,347.53. The Topix index of all first-section issues finished down 2.62 points, or 0.17%, at 1,551.07.

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Coal-Metal stocks lead China market gains
Feb 16,2017

Mainland China stock market settled higher on Thursday, 16 February 2017, with gains led by coal miners and metal firms, as the publication of regional governments investment targets lifted commodities markets. At the close, the blue-chip CSI300 index, which tracks large companies in Shanghai or Shenzhen, advanced 0.56% to close at 3,440.93. The Shanghai Composite Index added 0.52% to close at 3,229.62. The Shenzhen Composite Index, which tracks stocks on Chinas second exchange, increased 0.57% to 1958.11. The ChiNext Index, which tracks Chinas NASDAQ-style board of growth enterprises, rose 0.28% to 1,897.63 points.

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Gartner Positions Infosys as a Leader In Magic Quadrant
Feb 16,2017

Infosys announced that Gartner Inc. has positioned Infosys asa Leader in its EMEA and North America 2016 Magic Quadrant reports for SAPn++ Application Services.

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Estimated growth rate of Agriculture Sector is 4.1% in the next financial year
Feb 16,2017

The Union Minister of Agriculture and Farmers Welfare, Shri Radha Mohan Singh said that despite difficult challenges being faced by ICAR in its working period of 87 years, it has attained many achievements and these achievements are the milestones of progress of agriculture. Increase in production and income, development of institutes, human resources, development of new techniques, agriculture diversification are the areas in which ICAR has established new standards of success.

On this occasion, Secretary, the Department of Agricultural Research and Education & DG, ICAR, Dr. Trilochan Mohapatra and distinguished members of Society and senior officers of ICAR were also present.

Shri Singh said that Government is committed to double the income of farmers in five years. In this budget, holistic development of agriculture is the main focus in which to provide credit to farmers on affordable rates, assured supply of seeds and fertilisers, increase in irrigation facilities, increase in productivity through soil health cards, through E-nam assured market and providing profitable price has been emphasised.

Agriculture Minister said that for the progress of agriculture and prosperity of farmers, Government has made many initiatives in the budget, In comparison to the budget last year, in the budget of year 2017-18, the fund for rural, agriculture and allied sectors has been increased by 24%, it is now Rs. 1,87,223 crore. In the next financial year, it is estimated that the progress rate of agriculture sector will be 4.1%.

Shri Singh said that because of a good monsoon and policy initiatives by the government, there is a record production of food grains this year. As per the second advance estimate for the year 2016-17, there would be a total of 271.98 million tonnes production of food grains which is 6.94 million tonnes compared to last records (265.04 MT is 2013-14) 20.41 million tonnes higher than last year production.

Shri Singh said that during this Rabi in comparison to last year 2015-16, we got more sowing has been done viz. 7.7% in wheat, 12.96% in pulses and 12.69% in oilseeds which is in total 6.86% more in comparison to last year. Agriculture Minister said that Indian agriculture scientists have played a major role developing research and technology and bringing green revolution, and thereby in the development of agriculture. Since 1951, production of food grains has increased five times, horticulture production by 9.5 times, Fisheries production by 12.5 times, milk production by 7.8 times and egg production by 3.9 times. This has made a considerable impact on national food nutritional security. Our scientists have major role in increasing the excellence of higher agriculture education.

Shri Singh said that in the International Pulse Year 2016, 150 seed herbs of pulses have been established. Early maturing variety of moong IPM 205-7(VIRAT) has been released. The efforts for promoting research in agriculture sector have been remarkable in the last two and a half years. From the year 2012 to May, 2014, 261 new varieties of different crops have been released and from of June, 2014 to December, 2016, 437 new varieties have been released.

To increase International co-operation in the field of agriculture during October, 2016, in New Delhi with the help of coordination unit, one MoU has been signed for establishment of BRICS research platform in agriculture. This unit will be managed by DARE, GoI. Besides this in the year 2016, 17 international collaborative projects have also been approved.

Shri Singh said that since agriculture is state subject, so State Agriculture Ministers have an important role in its progress. On this occasion Agriculture Minister appealed to all the representatives to develop scientists-state-farmer linkage and to work unitedly in coordination with centre for the prosperity of farmers and progress of agriculture.

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Hong Kong Stocks up on solid U.S. lead
Feb 16,2017

The Hong Kong stock market climbed to best close in 18 months on Thursday, 16 February 2017, thanks to an ongoing rally on Wall Street and bolstered by gains in Chinese stocks. The benchmark Hang Seng Index climbed 0.47% or 112.83 points higher to 24,107.70, the highest since August 2015 and the first close above 24,000 since September last year. The Hang Seng China Enterprises Index, or the H-share index, edged up 0.18% or 18.98 points to 10,455.02. Turnover decreased to HK$107.6 billion from HK$111 billion on Wednesday.

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Ashari Agencies announces resignation of company secretary
Feb 16,2017

Ashari Agencies announced that Surpiya Singh has resigned from the post of Company Secretary of the Company with effect from 03 February 2017.

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Ishita Drugs & Industries standalone net profit rises 100.00% in the December 2016 quarter
Feb 16,2017

Net profit of Ishita Drugs & Industries rose 100.00% to Rs 0.06 crore in the quarter ended December 2016 as against Rs 0.03 crore during the previous quarter ended December 2015. Sales declined 4.42% to Rs 1.73 crore in the quarter ended December 2016 as against Rs 1.81 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales1.731.81 -4 OPM %6.942.76 - PBDT0.130.08 63 PBT0.080.04 100 NP0.060.03 100

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Bridge Securities reports standalone net loss of Rs 0.05 crore in the December 2016 quarter
Feb 16,2017

Net loss of Bridge Securities reported to Rs 0.05 crore in the quarter ended December 2016 as against net profit of Rs 0.11 crore during the previous quarter ended December 2015. Sales reported to Rs 0.03 crore in the quarter ended December 2016. There were no Sales reported during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales0.030 0 OPM %-166.670 - PBDT-0.050.11 PL PBT-0.050.11 PL NP-0.050.11 PL

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Epic Energy reports standalone net loss of Rs 1.87 crore in the December 2016 quarter
Feb 16,2017

Net Loss of Epic Energy reported to Rs 1.87 crore in the quarter ended December 2016 as against net loss of Rs 1.95 crore during the previous quarter ended December 2015. Sales declined 1.26% to Rs 4.71 crore in the quarter ended December 2016 as against Rs 4.77 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales4.714.77 -1 OPM %-0.426.92 - PBDT-0.020.33 PL PBT-0.250.03 PL NP-1.87-1.95 4

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Mahindra & Mahindra launches Supro Minivan and Mini Truck
Feb 16,2017

Mahindra & Mahindra has launched Supro Minivan and Mini Truck to cater to the domestic market on 16 February 2017.

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ISMT declares lock out at its steel plant in Jejuri, Pune
Feb 16,2017

ISMT has declared a lockout at the its Steel Plant situated at Jejuri-Morgon Road, Village Kolvihre, Post Jejuri - 412303, Dist. Pune, Maharashtra with effect from 16 February 2017.

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BLS International Services to hold board meeting
Feb 16,2017

BLS International Services will hold a meeting of the Board of Directors of the Company on 6 March 2017, to Sub-divide Equity Shares of the Company from Face value of Rs. 10/- per share to Re. 1/- per share, To call Extra-ordinary General Meeting of the Company.

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