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Volumes jump at Fortune Financial Services (India) counter
Jul 14,2017

Fortune Financial Services (India) clocked volume of 3.72 lakh shares by 12:36 IST on BSE, a 132.15-times surge over two-week average daily volume of 3,000 shares. The stock rose 6.98% to Rs 344.75.

Nava Bharat Ventures notched up volume of 8.28 lakh shares, a 16.13-fold surge over two-week average daily volume of 51,000 shares. The stock rose 3.75% to Rs 139.80.

TV18 Broadcast saw volume of 76 lakh shares, a 10.50-fold surge over two-week average daily volume of 7.24 lakh shares. The stock rose 2.69% to Rs 42.

Praj Industries clocked volume of 6.28 lakh shares, a 9.72-fold surge over two-week average daily volume of 65,000 shares. The stock rose 6.67% to Rs 82.40.

Videocon Industries saw volume of 33.17 lakh shares, a 6.60-fold rise over two-week average daily volume of 5.03 lakh shares. The stock hit a lower circuit limit of 5% at Rs 30.40.

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Pricol gains after acquisition
Jul 14,2017

The announcement was made after market hours yesterday, 13 July 2017.

Meanwhile, the S&P BSE Sensex was down 20.33 points, or 0.06% to 32,017.05.

On the BSE, 2.85 lakh shares were traded in the counter so far, compared with average daily volumes of 41,367 shares in the past one quarter. The stock had hit a high of Rs 95 and a low of Rs 91.10 so far during the day. The stock hit a record high of Rs 115.35 on 10 February 2017. The stock hit a record low of Rs 75.75 on 23 May 2017.

The stock had outperformed the market over the past one month till 13 July 2017, rising 13.42% compared with 2.83% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 1.29% as against Sensexs 8.74% rise.

The small-cap company has equity capital of Rs 9.48 crore. Face value per share is Re 1.

Automotive components manufacturer Pricol has signed binding agreements to acquire 100% of the wiping systems business of Ashok Piramal groups PMP Auto Components. The acquisition would be undertaken by Pricol through its wholly-owned subsidiaries. The transaction will be funded by a combination of internal accruals and external debt. The transaction would be earnings per share (EPS) accretive to the shareholders of Pricol and the profitability is expected to further improve upon integration of the business with Pricol.

PMP had acquired this business in 2008 from Magna and is presently running manufacturing facilities in Czech Republic, Mexico and India. The business is supplying wiper motors to global automotive customers including VW, Fiat, John Deere, Skoda, Audi, Seat and has a turnover of around Rs 250 crore currently with a confirmed order book and revenue visibility of more than Rs 450 crore in the financial year ending March 2020.

The acquisition will help Pricol diversify its product offerings and provide access to manufacturing facilities in Europe and North America, where it currently does not have a footprint, helping it cement its status as a global supplier. Additionally, with this acquisition, Pricol will increase its presence with passenger vehicles customers diversifying revenue streams and opening up multiple cross selling opportunities.

Pricol also expects to realize substantial synergies within the first couple of years to further boost the financial performance of the business. Pricols focus as an auto component supplier and experience in low cost production and sourcing can be leveraged by the target businesses for realizing cost savings in sourcing raw materials and reducing manufacturing overheads. Joint research and development (R&D) is also expected to reduce product development costs.

The transaction is subject to customary closing conditions and the parties to the transaction are bound by standard confidentiality obligations.

Net profit of Pricol declined 14.62% to Rs 5.43 crore on 818.76% surge in net sales to Rs 258.63 crore in Q4 March 2017 over Q4 March 2016.

Pricol offers auto components for motor vehicles, motorcycles and three wheelers.

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IDFC Bank allots 4,98,085 equity shares
Jul 14,2017

IDFC Bank has allotted 498,085 fully paid up equity shares of Rs.10 each to the employees in terms of IDFC Bank Employee Stock Option Scheme 2015 (IDFC Bank ESOS-2015) and pursuant to the resolution passed by the shareholders of the Bank at their meeting held on 27 July 2016. Further, IDFC Bank ESOS-2015 is in compliance with the SEBI (Share Based Employee Benefits) Regulations 2014. The total money realized by exercise of the aforesaid options is Rs.23,348,203.

Post the aforesaid allotment, the Equity Share Capital of the Bank now stands at 3,401,496,939 equity shares of Rs.10 each, aggregating to Rs.34,014,969,390.

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Housing & Urban Development Corp. to hold board meeting
Jul 14,2017

Housing & Urban Development Corp. will hold a meeting of the Board of Directors of the Company on 24 July 2017, to consider, approve and take on record the unaudited financial results of the Company for the quarter ended 30th June 2017.

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Thirani Projects to hold board meeting
Jul 14,2017

Thirani Projects will hold a meeting of the Board of Directors of the Company on 10 August 2017, to consider unaudited quarterly result for the quarter ended on 30th june 2017 under regulation 29 of the SEBI (LODR)regulation,2015

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Board of Tata Consultancy Services recommends dividend
Jul 14,2017

Tata Consultancy Services announced that the Board of Directors of the Company at its meeting held on 13 July 2017, inter alia, have recommended the dividend of Rs 7 per equity Share (i.e. 700%) , subject to the approval of the shareholders.

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Import of Vegetable Oils up by 15% in June 2017
Jul 14,2017

Import of vegetable oils during June 2017 is reported at 1,344,868 tons compared to 1,169,456 tons in June 2016 i.e. up by 15%, as per the data compiled by The Solvent Extractors Association of India of Vegetable Oils (edible & non-edible) for the month of June 2017. It consists of 1,293,777 tons of edible oils and 51,091 tons of non-edible oils.

The overall import of vegetable oils during first eight months of current oil year 2016-17, Nov.16 to June 17 is reported at 9,863,572 tons compared to 9,763,043 tons, more or less of the last year.

Currently, Soybean, Rapeseed & Groundnut being sold below MSP and prices have dropped between 20% to 30% of last year level. The current prices is the lowest in the last five years and farmers are totally discouraged to sow the oilseeds and may switch over to Cotton and other cash crops. With a view to ensure farmers do not loose interest in oilseeds cultivation, SEA has strongly suggested to Central Government to raise the import duty on crude oil to 20% and refined oil to 35% with immediate effect.

The stock of edible oils as on 1st July, 2017 at various ports is estimated at 738,000 tons (CPO 270,000 tons, RBD Palmolein 150,000 tons, Degummed Soybean Oil 160,000 tons, Crude Sunflower Oil 140,000 tons and 18,000 tons of Rapeseed (Canola) Oil) and about 1,540,000 tons in pipelines. Total stock at ports and in pipelines increased to 2,278,000 tons from 2,160,000 tons in June, 2017. Indias monthly requirement is about 17.50 lakh tons and operate at 30 days stock against which currently holding stock over 22.78 lakh tons equal to 39 days requirements.

During Nov.16 - June 17, Import of refined oil (RBD Palmolein) has sharply increased to 1,903,056 tons from 1,777,839 tons in the same period of last year, while Import of crude oil decreased to 7,708,902 tons from 7,892,977 tons during the same period of last year.

During Nov.16 - June 17, Palm Oil import has increased to 5,921,563 tons from 5,605,473 tons during the same period of last year, overall share of palm oil products increased to 62% from 58%, thanks to larger import of RBD Palmolein. Soft Oils import reduced to 3,690,395 tons from 4,064,343 tons last year, however, within soft oils, import of sunflower oil has sharply increased at the cost of soybean oil.

Import of Non-edible oils during Nov..16 - June 17 is reported at 251,614 tons compared to 93,227 tons during the same period last year. P.F.A.D., P.K.F.A.D., C.P.S. & RBD Palm Stearin are the major import of non-edible oils.

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Biocon hits record high
Jul 14,2017

The announcement was made before market hours today, 14 July 2017.

Meanwhile, the S&P BSE Sensex was down 66.49 points or 0.21% at 31,970.89.

On the BSE, 14.14 lakh shares were traded on the counter so far as against the average daily volumes of 2.28 lakh shares in the past one quarter. The stock had hit a high of Rs 404 so far during the day, which is a record high. The stock hit a low of Rs 385 so far during the day. The stock had hit a 52-week low of Rs 229.66 on 17 July 2016.

The stock had outperformed the market over the past one month till 13 July 2017, advancing 7.61% compared with the Sensexs 3% rise. The stock had, however, underperformed the market over the past one quarter, gaining 0.22% as against the Sensexs 8.74% rise. The scrip had outperformed the market over the past one year, surging 51.76% as against the Sensexs 15.18% rise.

The large-cap company has equity capital of Rs 300 crore. Face value per share is Rs 5.

Mylan N.V. and Biocon announced that the US Food and Drug Administration (FDA) Oncologic Drugs Advisory Committee (ODAC) recommended approval of the companies proposed biosimilar trastuzumab. The committee voted 16-0 in support of eligible indications of the reference product, Herceptin, which include HER2-positive breast cancer in the metastatic and adjuvant settings.

Mylan and Biocons proposed biosimilar trastuzumab also is under review by regulatory authorities in Australia, Canada, Europe and several emerging markets.

On consolidated basis, net profit of Biocon declined 61.7% to Rs 127.50 crore on 1.5% decline in net sales to Rs 919.20 crore in Q4 March 2017 over Q4 March 2016.

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

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Ramkrishna Forgings opens QIP issue
Jul 14,2017

Ramkrishna Forgings announced that the QIP Committee on 13 July 2017 passed the following resolutions -

1) Opening of the QIP on 13 July 2017
2)Approving of the Preliminary Placement Document dated 13 July 2017 in connection with QIP.
3)Approval of the Floor Price of the QIP, i.e. 523.84 per Equity Share.

The Relevant date for the QIP is 13 July 2017.

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Board of Infibeam Incorporation approves sub-division of shares
Jul 14,2017

The Board of Directors of Infibeam Incorporation at its meeting held on 13 July 2017 has approved Sub Division of Equity Shares of the Company from existing Face Value of Rs. 10/- (Rupees Ten Only) per Equity Share to Face Value of Rs. 1/- (Rupee One Only) per Equity Share.

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Board of RCC Cements decides to withdraw scheme of arrangement
Jul 14,2017

RCC Cements announced that the Board of Directors in their meeting held on 13 July 2017 has decided to withdraw the Scheme of Arrangement for Amalgamation of Virgo Softech (Transferor Company) with RCC Cements (Transferee Company) being Company Petition bearing no. 417 of 2013 pending before the Honble National Company Law Tribunal after obtaining necessary approval from the Honble National Company Law Tribunal, Delhi in this regard.

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Future Retail allots 1,51,622 equity shares
Jul 14,2017

Future Retail has allotted 1,51,622 equity shares of Rs. 2/- each to eligible employee(s) under the FRL ESOP 2016.

With this allotment, the paid up equity share capital of the Company has increased to Rs 94.39 crore comprising of 47,19,64,361 equity shares of Rs 2 each.

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Apollo Sindoori Hotels to hold AGM
Jul 14,2017

Apollo Sindoori Hotels announced that the Annual General Meeting (AGM) of the company will be held on 21 July 2017.

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BLS Infotech to hold board meeting
Jul 14,2017

BLS Infotech will hold a meeting of the Board of Directors of the Company on 29 July 2017.

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Cybele Industries to hold board meeting
Jul 14,2017

Cybele Industries will hold a meeting of the Board of Directors of the Company on 11 August 2017.

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