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Orchid Pharma rallies 7.21% in two sessions
Apr 19,2017

Meanwhile, the S&P BSE Sensex was down 10.01 points, or 0.03% at 29,329.11. The S&P BSE Small-cap index was up 63.91 points, 0.43% at 14,908.02.

On the BSE, 3.43 lakh shares were traded on the counter so far as against the average daily volumes of 1.99 lakh shares in the past one quarter. The stock had hit a high of Rs 37.90 and a low of Rs 36.75 so far during the day.

The stock had hit a 52-week high of Rs 45.90 on 22 April 2016 and a 52-week low of Rs 23.70 on 22 November 2016. The stock had outperformed the market over the past one month till 18 April 2017, advancing 30.07% compared with the Sensexs 1.11% decline. The scrip had also outperformed the market over the past one quarter advancing 28.02% as against the Sensexs 7.56% rise.

The small-cap company has equity capital of Rs 88.96 crore. Face value per share is Rs 10.

Shares of Orchid Pharma have rallied 7.21% in two trading sessions from its close of Rs 34.70 on 17 April 2017, after the company announced during market hours yesterday, 18 April 2017, that it received the Establishment Inspection Report (EIR) from the United States Food and Drug Administration (USFDA) based on the successful inspection of the formulation manufacturing facility located in Kancheepuram District, Tamil Nadu. The facility was inspected by USFDA in December 2016. The stock had rallied 5.33% to settle at Rs 36.55 yesterday, 18 April 2017.

Separately, Orchid Pharma said that Credit Analysis & Research (CARE) has revised the ratings on the long-term bank facilities of the company to CARE D from CARE B-. It has revised the ratings on the short-term bank facilities of the company to CARE D from CARE A4.

The revision in ratings assigned to the bank facilities of Orchid Pharma takes into account instances of delay in debt servicing. The announcement was made after market hours on Monday, 17 April 2017.

Orchid Pharma reported net loss of Rs 60.98 crore in Q3 December 2016, compared with net loss of Rs 94.02 crore in Q3 December 2015. Net sales declined 13.1% to Rs 177.27 crore in Q3 December 2016 over Q3 December 2015.

Orchid Pharma is a globally recognized, integrated pharmaceutical company with core competencies in the development and manufacture of Active Pharmaceutical Ingredients (APIs) and Finished Dosage Forms as well as in drug discovery.

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Coal India moves north on reports of brokerage upgrade
Apr 19,2017

Meanwhile, the S&P BSE Sensex was down 0.54 point at 29,318.56.

On the BSE, 2.21 lakh shares were traded on the counter so far as against the average daily volumes of 4.61 lakh shares in the past one quarter. The stock had hit a high of Rs 283.35 and a low of Rs 276.05 so far during the day.

The stock had hit a 52-week high of Rs 349.85 on 17 August 2016 and a 52-week low of Rs 272.65 on 4 May 2016. It had underperformed the market over the past one month till 18 April 2017, sliding 3.68% compared with the Sensexs 1.11% fall. The scrip had also underperformed the market over the past one quarter, declining 9.57% as against the Sensexs 7.56% rise.

The large-cap company has equity capital of Rs 6207.41 crore. Face value per share is Rs 10.

The potential upside in Coal India stock price is in addition to around 6% dividend yield and is very attractive compared to its cost of equity, the broker reportedly said.

Coal India deserves a premium over other metal and mining stocks due to its dominant position in the Indian markets and its current coal pricing being very competitive, which has virtually no downside risk, the brokerage added.

Meanwhile, Coal India after market hours yesterday, 18 April 2017, issued clarification to the stock exchanges with respect to news appeared in media on 17 April 2017 titled 177 mines of Coal India downgraded on quality concernsn++. The company said that coal is a heterogeneous mineral, susceptible to qualitative variation particularly in Indian context because of its origin and formation. As per earlier practice, annual declaration of grade proposed by coal companies on the basis of own sample collection and analysis at government accredited laboratories, which was being approved by Coal Controller in due course.

As per statutory provisions, subject of maintenance of grades requires monitoring which is vested with Coal Controller Organization (CCO). Annual declaration of grades is a routine exercise, being carried out by coal companies as per directives and methodology prescribed by CCO, Coal India said. During FY16-17, 52 mines/seams were regarded. Again, during reassessment another 22 mines were regarded, the company said.

During FY17-18, as per directives of government, Coal Controller announced new methodology for declaration of grade. Under revised methodology, sampling and analysis of different seams/loading points was carried out through academic institutions and based on their results, CCO finalized the grades, Coal India said.

Independent certification of coal grade through CC0 and analysis through CIMFR will help Coal India to achieve consumers confidence and satisfaction besides less slippages in future, the company said. Re-calibration of entire grading methodology is also going to help government in its mission to make cheap power available to common person, it added.

Coal Indias consolidated net profit fell 20.3% to Rs 2884.47 crore on 3.9% rise in net sales to Rs 19704.45 crore in Q3 December 2016 over Q3 December 2015.

Coal India (CIL) as an organized state owned coal mining corporate. The government of India held 78.86% stake in the company as per shareholding pattern as on 31 March 2017.

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Fitch: US Tightening, Trade Risks Weigh on APAC Growth Outlook
Apr 19,2017

Most APAC economies have started 2017 with good momentum, and regional growth is likely to remain relatively healthy by global standards during the rest of the year, says Fitch Ratings. APAC sovereign rating trends are mostly stable. However, several rising challenges are likely to weigh on growth as the year wears on. Tighter global financial conditions and another round of US dollar appreciation could create strains. Chinas economy is likely to ease, which would dampen external demand around the rest of the region. A potential increase in global protectionism might also undermine export performance, while geopolitical risks - such as those centering on North Korea - could dampen business sentiment.

Asian exports and business surveys have fared better than we had expected, reflecting surprisingly strong growth in the US and Europe as well as policy-driven stabilisation of growth in China. Expansionary fiscal policy and infrastructure spending have supported domestic demand around much of the region, and some economies are making progress on reforms, most notably India and Indonesia.

However, tighter global financial conditions could see growth decelerate over the next few quarters. We forecast two more US rate hikes in 2017, and another four in 2018. Eventually, we expect the Fed Funds rate to normalise at 3.5%-4.0% by 2020, far higher than current market expectations. Higher US rates are likely to drive renewed appreciation of the US dollar.

Higher debt-servicing costs in Asia might create pressures in countries where debt has built up rapidly during the period of very low interest rates. Some sovereigns are made vulnerable in this respect by high private foreign-currency debt, such as in Malaysia, or a dependence on foreign inflows - such as in Indonesia. Asset prices could also suffer.

A stronger dollar could have benefits for Asian exporters, but this is offset by the prospect of a slowdown in China and the risk of increased protectionism. The Chinese authorities have recently started to shift their focus toward curbing leverage and containing financial risks. Macro-prudential controls on banks shadow-funding activities have been tightened in recent months, and the Peoples Bank of China has increased key money-market interest rates. These measures are likely to slow growth in 2H17 and into 2018.

The main protectionism threat stems from the US. A recent meeting between US President Trump and Chinese President Xi appears to have lowered the risk of an imminent trade war between their countries, but a lot could still change. The Trump administration has already withdrawn from the Trans-Pacific Partnership, and has consistently used tough rhetoric on trade, with the emphasis on unfair competition from countries that run large bilateral trade surpluses with the US, including China. The US vice-president has also said this week that the trade pact with South Korea will be reformed.

Overall, we expect APAC aggregate GDP growth to remain relatively flat in 2017. Slowdowns are likely in some of the most trade-dependent economies with significant exposure to China, such as Hong Kong, Korea, and Singapore. However, we expect marked pick-ups in the next few years in the domestically driven economies of India and Indonesia, which should continue to benefit from recent reforms.

Most APAC sovereigns are on Stable Outlook, with some exceptions. Indonesia and the Philippines are on Positive Outlook, reflecting strong GDP growth and - in Indonesias case - positive reforms and growing resilience to external pressures. Japans A rating was placed on Negative Outlook last June on deteriorating public finances, although recent indicators point to a brighter growth outlook than we had previously expected.

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Brahmaputra Infrastructure provides update on work order for construction of medical college in Assam
Apr 19,2017

Brahmaputra Infrastructure has received a letter for enhancement of the existing work order of Rs 156.55 crore to Rs 209 crore (increase of Rs 52.45 crore) for the construction of Assam Hills Medical College & Research Institute from The Office of Mission Director, National Health Mission, Assam.

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Board of National Plywood Industries appoints director
Apr 19,2017

The Board of Directors of National Plywood Industries has appointed Pradeep Bharat Shethia as Independent Director of the Company at its meeting held on 31 January 2017.

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Jain Irrigation spurts after acquisition in US
Apr 19,2017

The announcement was made during trading hours today, 19 April 2017.

Meanwhile, the S&P BSE Sensex was down 7.64 points, or 0.03% to 29,311.46.

On the BSE, 27.13 lakh shares were traded in the counter so far, compared with average daily volumes of 4.56 lakh shares in the past one quarter. The stock had hit a high of Rs 109.55 and a low of Rs 99.60 so far during the day. The stock hit a 52-week high of Rs 109.55 on 19 April 2017. The stock hit a 52-week low of Rs 59.90 on 29 April 2016.

The stock had outperformed the market over the past one month till 18 April 2017, rising 4.25% compared with 0.68% decline in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 5.41% as against Sensexs 7.56% rise.

The mid-cap company has equity capital of Rs 92.03 crore. Face value per share is Rs 2.

Jain Irrigation Systems (JISL), through its US-based wholly owned subsidiary, agreed to acquire 80% stake in two US-based entities. Two of the United States largest micro-irrigation dealers - Agri-Valley Irrigation, Inc. (AVI) and Irrigation Design and Construction, Inc. (IDC), have entered into an agreement to merge ownership of their businesses into a newly formed distribution company. The new organization is an un-paralleled leader in design, construction, service, and innovative Ag Technology. This entity will provide a unique platform to help growers implement state-of-the-art irrigation technology and achieve More Crop Per Drop. AVI and IDC have been long tenured stable companies with operations in United States of America.

This is a key strategic investment by JISL into one of the largest irrigation markets in the world. JISL already has a presence in US micro irrigation market through its wholly owned subsidiary Jain Irrigation, Inc., (JIl) which is headquartered in Fresno, California. California drought has now eroded with significant rains over the last few months. Therefore, now there is strong irrigation business opportunity in the next 18-24 months for the merged distribution company as well as JIl.

The merger will help Jain Irrigation to forward integrate itself in the value chain and build direct relationship with growers. This fits into companys strategy to participate in end-to-end project solutions to harness companys unique capabilities in Integrated Irrigation project solutions. No government or regulatory approvals are required to complete the transaction. The transaction is expected to be completed in the next few weeks.

The consideration for transaction will be paid in cash not exceeding $48.50 million and subject to net working capital adjustments at the time of closing. Transaction is expected to be closed in the next few weeks.

On a consolidated basis, Jain Irrigation Systems reported net profit of Rs 6.15 crore in Q3 December 2016 compared with net loss of Rs 23.01 crore in Q3 December 2015. Net sales rose 4.5% to Rs 1417.82 crore in Q3 December 2016 over Q3 December 2015.

Jain Irrigation Systems is engaged in manufacturing of micro irrigation systems, PVC pipes, HDPE pipes, plastic sheets, agro processed products, renewable energy solutions, tissue culture plants, financial services and other agricultural inputs.

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Nalco leads losers in BSEs A group
Apr 19,2017

National Aluminium Company (Nalco) declined 7.49% at Rs 67.95 at 13:46 IST. The stock topped the losers in A group. On the BSE, 8.17 lakh shares were traded on the counter so far as against the average daily volumes of 2.05 lakh shares in the past two weeks.

Jindal Steel & Power (JSPL) fell 5.98% at Rs 111.65. The stock was the second biggest loser in A group. On the BSE, 23.71 lakh shares were traded on the counter so far as against the average daily volumes of 14.94 lakh shares in the past two weeks.

TV18 Broadcast skid 2.92% at Rs 41.60. The stock was the third biggest loser in A group. On the BSE, 11.38 lakh shares were traded on the counter so far as against the average daily volumes of 6.23 lakh shares in the past two weeks.

NLC India was down 2.67% at Rs 102. The stock was the fourth biggest loser in A group. On the BSE, 35,000 shares were traded on the counter so far as against the average daily volumes of 58,000 shares in the past two weeks.

Religare Enterprises lost 2.56% at Rs 200.10. The stock was the fifth biggest loser in A group. On the BSE, 5,208 shares were traded on the counter so far as against the average daily volumes of 10,000 shares in the past two weeks.

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Aagam Capital announces resignation of company secretary and compliance officer
Apr 19,2017

Aagam Capital announced that Sanhita Dey Narayan, Company Secretary and Compliance Officer has resigned from the Company on 14 April 2017.

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Volumes jump at Hathway Cable & Datacom counter
Apr 19,2017

Hathway Cable & Datacom clocked volume of 26.03 lakh shares by 13:29 IST on BSE, a 27.05-times surge over two-week average daily volume of 96,000 shares. The stock rose 10.81% to Rs 41.50.

Techno Electric & Engineering Company notched up volume of 1.39 lakh shares, a 22.34-fold surge over two-week average daily volume of 6,000 shares. The stock fell 1.33% to Rs 376.

Alembic Pharmaceuticals saw volume of 2.38 lakh shares, a 15.48-fold surge over two-week average daily volume of 15,000 shares. The stock rose 1.39% to Rs 618.45.

Atishay clocked volume of 8.64 lakh shares, a 11.19-fold surge over two-week average daily volume of 77,000 shares. The stock rose 1.95% to Rs 81.10.

Whirlpool of India saw volume of 46,000 shares, a 11.02-fold rise over two-week average daily volume of 4,000 shares. The stock rose 1.10% to Rs 1,229.85.

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Substantial improvements in compliance, quality of disclosures and spends on CSR in FY16, in a study of 1,300 companies by CII
Apr 19,2017

In the most comprehensive and extensive analysis yet of CSR performance of companies in FY16, CSR performance of companies with respect to requirements of CSR legislation have substantially improved over FY15. The results are based on disclosures of close to 1,270 companies listed on BSE that had to comply with Section 135 of Companies Act 2013. The analysis was conducted by CII-ITC Centre of Excellence for Sustainable Development in form of Annual CSR Tracker 2016, which on yearly-basis captures annual CSR disclosures.

In FY16, these 1,270 companies collectively spent Rs 8,185 cr, which is 27% more than spend of Rs 6,400 cr in FY15. The spend is 92% of the required CSR budget of Rs 8,900 cr, using two percent of average net profits of three financial years. The companies collectively had budgeted Rs 10,257 cr, which is 15% more than the minimum budget required.

A notable feature of CSR disclosures in FY16 is that some companies have begun to disclose output data. 13 percent, or 166 of 1,270 companies making such disclosures, reflects going beyond legislative requirements and improving the quality of disclosures. 1.5 cr people benefitted from Rs 3,747.97 cr spent for which output data has been reported. This averages to Rs 2,498.65 spent per person.

Chandrajit Banerjee, Director General of CII, said n++results of CIIs Annual CSR Tracker 2016, clearly demonstrate improvement in the practice and disclosure of practice of CSR by companies. The fact that companies are budgeting and spending more than the minimum legislative requirement suggests that companies want to do more for betterment of communities. There is always room for improvement and I am hopeful that results of FY17 will reflect that improvement.n++

The number of companies spending CSR budgets exclusively through corporate foundations increased to 72 from 60 in FY15. The number of companies exclusively spending money directly marginally increased to 233 from 227, whereas that spending money exclusively through implementing agencies remained stable at 249 as compared to 251 in FY15. This tends to suggest that companies are building their own capacities for implementation.

Health and sanitation, education and skill development, and rural development are the top three developmental areas for spends. The absolute amount of money contributed to PMs Relief Fund reduced by 25% to Rs 80.55 cr. Though the absolute amounts spent in incubation centres, protection of national heritage, and sports development, are small as compared to the top three areas, the percentage increases over the previous year are anywhere between 18 to 122%.

Out of the 32 industry categories, absolute spends have decreased in just two industries, viz., commercial services and supplies, and oil and gas. Big increases are reported in automobiles and auto components, consumer durables, metals and mining, financial services, pharma and biotech, telecom services and equipment, textiles, apparels and accessories, transportation, and utilities.

Naushad Forbes, President, CII said, n++this extensive and elaborate analysis of almost 1,300 companies is indicative of their commitment to directly contribute to development of hundreds of thousands of fellow citizens. Companies do good in myriad ways and companies should encourage contributions in unique and innovative areas. CSR is a matter of board-level accountability and the boards should be allowed the space to conduct their job without interference or influence from certain stakeholders that have tendencies to exploit CSR legislation for their narrow gains.

The purpose of CIIs Annual CSR Tracker has been for key stakeholders to reflect on yearly and inter-year performance of companies on CSR. In sum, FY16 has been a significant improvement on almost every aspect of CSR legislation. Some companies going beyond the legislative requirements. CESD projects that CSR spends will further increase in FY17, with a back-of-the envelope calculation of around Rs 10,000 cr. There should be improvements in quality of disclosures and more companies disclosing beneficiary data.

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New order boosts RPP Infra Projects
Apr 19,2017

The announcement was made during market hours today, 19 April 2017.

Meanwhile, the S&P BSE Sensex was down 14.69 points or 0.05% at 29,333.79. The S&P BSE Small-Cap index was up 79.07 points or 0.53% at 14,923.18.

On the BSE, 19,000 shares were traded on the counter so far as against the average daily volumes of 71,480 shares in the past one quarter. The stock had hit a high of Rs 284 and a low of Rs 270.60 so far during the day.

The stock had hit a record high of Rs 362.20 on 10 February 2017 and a 52-week low of Rs 138.50 on 16 November 2016. It had outperformed the market over the past one month till 18 April 2017, advancing 2.86% compared with the Sensexs 1.11% fall. The scrip had, however, underperformed the market over the past one quarter, advancing 2.6% as against the Sensexs 7.56% rise.

The small-cap company has equity capital of Rs 22.60 crore. Face value per share is Rs 10.

The consortium of Siemens and RPP Infra Projects won order from Power Grid Company of Bangladesh (PGCB). The joint bid was submitted by Siemens and RPP Infra Projects PGCB in respect of design, supply, erection, testing and commissioning of 230 KV and 132 KV substations on turnkey basis. Scope of the order for RPP Infra Projects will be in the civil work with the share worth about Rs 97 crore.

Arulsundaram - Chairman & Managing Director of RPP Infra Projects said that this is significant development for RPP Infra Projects to work with Siemens, India. This is subsequent development in the right direction for RPP Infra Projects to execute orders in the International market. The said consortium would provide strength and will create better valuation for RPP Infra Projects shareholders, he said.

On consolidated basis, RPP Infra Projects net profit rose 53.7% to Rs 3.95 crore on 7.9% growth in net sales to Rs 78.25 crore in Q3 December 2016 over Q3 December 2015.

RPP Infra Projects is engaged in the business of infrastructure development such as highways, roads, bridges, civil construction works, irrigation and water supply projects and power plant.

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Sutlej Textiles gains after getting pollution control board nod for Rajasthan dyeing plant
Apr 19,2017

The announcement was made during trading hours today, 19 April 2017.

Meanwhile, the S&P BSE Sensex was down 23.04 points, or 0.08% to 29,296.06.

On the BSE, 556 shares were traded in the counter so far, compared with average daily volumes of 2,086 shares in the past one quarter. The stock had hit a high of Rs 915 and a low of Rs 900 so far during the day. The stock hit a record high of Rs 950 on 7 February 2017. The stock hit a 52-week low of Rs 473 on 2 May 2016.

The stock had outperformed the market over the past one month till 18 April 2017, rising 12.50% compared with 0.68% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 9.35% as against Sensexs 7.56% rise.

The small-cap company has equity capital of Rs 16.38 crore. Face value per share is Rs 10.

On 8 November 2016, Sutlej Textiles and Industries had informed that the dyeing plant of Rajasthan Textile Mills, Bhawanimandi, a unit of company, was shut till further directions after receiving notice from the Pollution Control Board, Rajasthan. The impact of the shut down was negligible as the required dyed fibre was arranged from other units of the company.

The company announced today,19 April 2017, that upon a review, the Pollution Control Board, Rajasthan, has permitted the company to carry on with the operations at the Bhawanimandi unit.

Net profit of Sutlej Textiles and Industries declined 1.5% to Rs 27.68 crore on 2.1% decline in net sales to Rs 529.08 crore in Q3 December 2016 over Q3 December 2015.

Sutlej Textiles and Industries is an integrated textile manufacturing company.

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Mideast (India) shifts registered office
Apr 19,2017

Mideast (India) has shifted its registered office from D-12, Neb Sarai, Freedom Fighters Enclave, New Delhi-110068 to Ground Floor, 8/15, Mehram Nagar, New Delhi-110037 with effect from 1 March 2017.

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PC Jeweller to open new showroom in Hapur (U.P.)
Apr 19,2017

PC Jeweller is opening a new showroom on 23 April 2017 at Hapur (U.P.). With this, the Company will have total 76 showrooms located across 59 cities in India.

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Board of VST Industries recommends final dividend
Apr 19,2017

VST Industries announced that the Board of Directors of the Company at its meeting held on 18 April 2017, inter alia, have recommended the final dividend of Rs 75 per equity Share (i.e. 750%) , subject to the approval of the shareholders.

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