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Yes Bank announced after market hours yesterday, 8 September 2016 that due to extreme volatility during trading day on 8 September 2016 because of misinterpretation of new qualified institutional placement (QIP) guidelines, the bank has been advised by its appointed Merchant Bankers to defer its proposed QIP. It may be recalled that the bank had announced on 7 September 2016 opening of QIP of equity shares of face value Rs 10 each to raise up to $1 billion. The bank announced Rs 1,371.84 per share as the floor price at that time.
ICICI Bank after market hours yesterday, 8 September 2016 said that the proposed initial public offer (IPO) of its subsidiary, ICICI Prudential Life Insurance Company (ICICI Pru Life) has been approved by Registrar of Companies, Maharashtra on 8 September 2016. The offer will be open for subscription to public on 19 September 2016 and shall close on 21 September 2016. The price band has been fixed at Rs 300-334 per equity share.
Jindal Steel & Power reported consolidated net loss of Rs 1082.15 crore in Q1 June 2016 compared with consolidated net loss of Rs 542.42 crore in Q1 June 2015. Total income rose 4.34% to Rs 4686.60 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 8 September 2016. Higher revenues in Jindal Power (JPL) & Oman helped consolidated turnover rise 6% to Rs 4655 crore in Q1 June 2016 over Q1 June 2015.
Zensar Technologies announced that it has secured multi-million dollar digital transformation project from Avis Fleet in South Africa. The announcement was made after market hours yesterday, 8 September 2016. Spread over a time-period of two years, the project involves adding scalability and agility to the companys strategic technology roadmap. Zensar will enable realization of Avis Fleets strategic project, Next Generation Fleet Management System. Zensar will leverage its digital technology skills and expertise to enable Avis Fleet in improving overall customer experience and visible enhancement in the quality of service. The key business objective is to secure and grow Avis market leadership position in this field across Africa. The overall implementation, to be divided into two phases will focus on enhancing the varied legacy technology platforms and integration of digital technologies like Agile and DevOps in building a strategic IT framework.
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GAIL (India)s net profit jumped 244.03% to Rs 1335.18 crore on 9.98% decline in total income to Rs 11457.20 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 7 September 2016.
Meanwhile, shares of GAIL (India) turn ex-dividend today, 8 September 2016, for final dividend of Rs 3 per share for the year ended 31 March 2016 (FY 2016).
ONGCs net profit dropped 21.15% to Rs 4232.54 crore on 20.23% decline in total income to Rs 18737.18 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 7 September 2016.
HDFC announced that it intends to raise Rs 1000 crore from issue of non-convertible debentures on private placement basis. The debentures will carry a coupon rate of 7.7% per annum and will have a tenor of 1 year 5 months. The issue opens and closes for subscription on the same day tomorrow, 9 September 2016. The announcement was made after market hours yesterday, 7 September 2016.
Wipro issued a press release after market hours yesterday, 7 September 2016 regarding updates on the companys engagement with Employees State Insurance Corporation (ESIC). In March 2009, Wipro had entered into a seven-year agreement with ESIC as a systems integrator for Project Panchdeep to set up a healthcare administration program under the build, own, operate and transfer model. Wipro said it had completed its obligations under the contract. However, ESIC has withheld certain amounts due to the company in an ad-hoc and arbitrary manner, which has resulted in a significant delay in collections for the company, Wipro said. The company has disputed this non-payment and is engaged with ESIC to recover the amounts due. If the company is not able to resolve this amicably in a reasonable time, it will take all necessary legal steps available to it, Wipro said. The agreement with ESIC expired on 8 June 2016 post which Wipro had no obligation to provide any services to ESIC, the company said. In spite of ESICs failure to make timely payments, Wipro at the request of ESIC and given the critical nature of the services for the citizens, agreed to provide support services for an additional period of three months, it said. As contractually agreed, Wipro will handover this project close of business hours on 8 September 2016, the company said.
Ashok Leyland after market hours yesterday, 7 September 2016, announced a restructuring agreement with Nissan Motor Co. that will enable both companies to enter into a new phase in their business interaction. Nissan has agreed to sell to Ashok Leyland all of Nissans shares in three joint venture (JV) companies that were formed in 2008. These JVs focus on technology development, and manufacturing of powertrains and vehicles. Under the agreement, these JVs will become wholly-owned Ashok Leyland subsidiaries, upon receipt of all necessary approvals from the regulatory authorities in India. The process is expected to be concluded later this year, Ashok Leyland said. Ashok Leylands Managing Director Vinod Dasari said that the company has decided to acquire Nissans stake in the three JV companies, and this will help Ashok Leylands efforts to concentrate on its core business initiatives and its customers. Ashok Leyland will continue its relationship with Nissan under the new arrangement, Dasari added.
Solar Industries Indias consolidated net profit rose 13.13% to Rs 47.11 crore on 10.8% rise in net total income from operations to Rs 461.45 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 7 September 2016.
Orient Paper & Industries announced that a meeting of the board of directors of the company will be held on 15 September 2016, to consider raising capital by way of rights issue of shares.The board will also consider various options for business restructuring of the company. The announcement was made after market hours yesterday, 7 September 2016.
Motherson Sumi Systems said that MSSL Manufacturing Hungary Kft., a subsidiary of MSSL GmbH, which in turn is a subsidiary of Motherson Sumi Systems is acquiring the Automotive Business Unit of Abraham es Tarsa Kft. (Abraham and Co. Ltd) located in Turkeve, Hungary on a going concern basis and would also give on lease part of acquired assets to SMR Hungary. With this transaction, which is expected to be completed in October 2016, MSSL through its 100% subsidiary, MSSL Manufacturing Hungary Kft., would acquire the land, building and machinery of Abraham es Tarsa Kft for a purchase price consideration of EUR 10.4 million.
Abraham es Tarsa is an expert for plastic processing and high quality products for car makers across Europe. SMR Hungary, a subsidiary of SMRP BV, holding 98.5% in SMR Hungary, which is ultimately held by MSSL, has for many years been the primary customer of Abraham es Tarsa Kft.
The integration of this business would allow to generate a number of operational synergies with SMR. This acquisition will increase the in house capability of SMR Hungary, and therefore will support SMRs position as technology and market leader for automotive mirrors in Hungary and Europe. The acquired unit will be further expanded to achieve group synergies through supplies to SMR and to the new facilities being set up by SMP in Europe to meet the demand for new orders from customers. The announcement was made after market hours yesterday, 7 September 2016.
NTPC turns ex-dividend today, 8 September 2016, for final dividend of Rs 1.75 per share for the year ended 31 March 2016 (FY 2016).
NHPC turns ex-dividend today, 8 September 2016, for final dividend of Rs 0.58 per share for FY 2016.
NBCC turns ex-dividend today, 8 September 2016, for dividend of Rs 2 per share for FY 2016.
Escorts turns ex-dividend today, 8 September 2016, for dividend of Rs 1.20 per share for FY 2016.
Cyient turns ex-dividend today, 8 September 2016, for special dividend of Rs 2.50 per share for FY 2016.
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Tata Motors in a press release issued after market hours yesterday, 6 September 2016 said it has received orders for supply of over 5,000 buses from 25 state/city transport undertakings across the country. This represents a healthy growth of over 80% plus compared to last year in the order book position of the company, Tata Motors said. Ravi Pisharody, Executive Director, Commercial Vehicle Business Unit, Tata Motors said that the company plans to execute these orders in the current financial year (FY 2017). The orders will definitely enable the company to further strengthen its leadership position in the commercial vehicles (CV) passenger space, Pisharody added.
Oil Indias net profit fell 33.47% to Rs 494.41 crore on 22.22% decline in total income to Rs 2460.85 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 6 September 2016.
Lupin announced at the fag end of market hours yesterday, 6 September 2016 that it has received tentative approval for its Silodosin Capsules, 4 mg and 8 mg from the United States Food and Drug Administration (USFDA) to market a generic version of Allergan Sales, LLCs Rapaflo Capsules, 4 mg and 8 mg. The drug is indicated for the treatment of the signs and symptoms of benign prostatic hyperplasia. Rapaflo had US annual sales of $228.7 million as per IMS MAT June 2016 data.
TCS announced that it has unveiled new unemployment insurance system for the State of Mississippi. The announcement was made after market hours yesterday, 6 September 2016. TCS announced that the Mississippi, Rhode Island and Maine (MRM) Consortium has gone live with the TCS developed Unemployment Insurance (UI) Application for Benefits. Mississippi began implementation of the UI solution prior to the formation of the consortium, while the states of Maine and Rhode Island plan to adopt the solution in the near future. Mississippis Unemployment Insurance program helps unemployed individuals throughout the state by providing monetary benefits to those who have involuntarily lost their jobs, while they look for new employment opportunities.
TCS has been helping several US states to modernize their systems that support unemployment insurance programs. TCS developed solution is a robust and highly scalable platform with the ability to easily control multiple functional requirements, such as support for online claims processing, adjudication, appeals and extensive tracking of all claims and payments.
Syngene International announced the establishment of an integrated, multi-disciplinary drug discovery and development center for Amgen, Inc in Bangalore, India. This center, named Syngene Amgen Research and Development Center (SARC), will be Syngenes fourth such exclusive R&D center. Syngene already operates dedicated R&D centers for Bristol-Myers Squibb, Abbott Nutrition and Baxter Inc. The state-of-the-art dedicated center will be staffed by a team of more than 100 highly qualified Syngene scientists, working in close association with Amgen researchers around the world on the discovery and development of innovative medicines.
In addition to being customized to meet Amgens functional requirements, the facility complies with the highest regulatory standards. Its design includes a range of environmentally-friendly features and flexible layouts, and is configured to minimize solvent and effluent waste with a strong emphasis on laboratory safety and n++greenn++ chemistry. Syngene has partnered with Amgen in a variety of discovery and development projects. With the establishment of SARC, this association now extends into a multi-discipline collaboration spanning capabilities in medicinal and process chemistry, biologics, bioprocess, drug metabolism, pharmacokinetics, bioanalytical research, and pharmaceutical development. The announcement was made after market hours yesterday, 6 September 2016.
Tata Power Company turns ex-dividend today, 7 September 2016, for dividend of Rs 1.30 per share for the year ended 31 March 2016 (FY 2016).
MOIL turns ex-dividend today, 7 September 2016, for final dividend of Rs 2 per share for FY 2016.
Grasim Industries turns ex-dividend today, 7 September 2016, for dividend of Rs 22.50 per share for FY 2016.
Engineers India turns ex-dividend today, 7 September 2016, for final dividend of Rs 2 per share for FY 2016.
BEML turns ex-dividend today, 7 September 2016, for dividend of Rs 4 per share for FY 2016.
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Infosys announced that it has entered into a joint venture (JV) agreement with Saudi Prerogative Company (SPC) in the Kingdom of Saudi Arabia to conduct IT services for customers located in the Kingdom of Saudi Arabia. Infosys holds 70% while the rest 30% will he held by SPC in this JV. Infosys 70% in this JV is at a cash investment of $312,671 (SAR 1,172,501) by the company in the equity share capital of the proposed JV company. The agreement is subject to the approval of Saudi Arabian General Investment Authority (SAGIA). The announcement was made after market hours on Friday, 2 September 2016.
Sun Pharmaceutical Industries (Sun Pharma) announced the initiation of a phased transfer of manufacturing & marketing rights in Japan for the 14 long-listed/established prescription brands acquired from Novartis. These 14 prescription brands acquired by the company earlier this year will be transferred from Novartis Pharma K.K. to Sun Pharmas subsidiary in Japan beginning October 2016. Sun Pharma has also signed a strategic distribution alliance with Mitsubishi Tanabe Pharma Corporation for these 14 prescription brands. Under this alliance, following the transfer of manufacturing & marketing rights to Sun Pharmas subsidiary in Japan, Mitsubishi Tanabe Pharma Corporation will market and distribute all the 14 brands as well as provide information on their proper use to healthcare professionals. The announcement was made before market hours today, 6 September 2016.
Isao Muramatsu, President & Representative Director, Sun Pharma Japan said that through this alliance the company has the opportunity to leverage Mitsubishi Tanabe Pharma Corporations specialized expertise to create a strong business foundation for Sun Pharma in Japan. Sun Pharma will focus on expanding its sales channels in Japans pharmaceutical market while continuing to ensure a stable supply of medicines and healthcare information, Muramatsu said.
Dr Reddys Laboratories (DRL) after market hours on Friday, 2 September 2016 announced that it has launched Bupropion HCI extended-release tablets, USP (SR) in 100mg, 150mg and 200mg, a therapeutic equivalent generic version of Wellbutrin SR (bupropion HCI) sustained-release tablets in the United States market approved by the US Food and Drug Administration (USFDA). The Wellbutrin SR brand and generic had US sales of about $109.6 million for the recent twelve months ended July 2016 according to IMS Health data. DRLs Bupropion SR tablets are available in 100mg, 150mg and 200mg, in bottle count sizes of 60, 100 and 500.
Reliance Industries (RIL) after market hours on Friday, 2 September 2016, announced that the companys telecom arm Reliance Jio Infocomm (Jio) has intimated the Department of Telecommunications (DOT), Telecom Regulatory Authority of India (TRAI) and the security agencies regarding the commencement of its wireless telecommunication services in all 22 service areas from 5 September 2016. The company has also filed the tariff plans for wireless services with TRAI. With these steps, the company has fulfilled all the requirements of Unified License for commencement of services, RIL said in a statement. It may be recalled that Jio had earlier announced its tariff plans under the n++Jio Welcome Offern++.
HDFC announced that it has closed the third issue of rupee denominated bonds to overseas investors, aggregating up to Rs 1000 crore. The yield to investor from the bonds is 7.5% per annum payable semi-annually. Maturity date for these bonds is 9 January 2020. The announcement was made after market hours on Friday, 2 September 2016.
Maruti Suzuki India (Maruti) announced that its total production rose 3.25% to 1.27 lakh units in August 2016 over August 2015. The announcement was made yesterday, 5 September 2016. The market was closed on that day on account of Ganesh Chaturthi.
Hindalco Industries turns ex-dividend today, 6 September 2016, for final dividend of Rs 1 per share for the year ended 31 March 2016.
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Lupin announced that its US subsidiary Gavis Pharmaceuticals LLC, USA has received tentative approval from the United States Food and Drug Administration (USFDA) to market a generic version of Pfizer Inc.s Zithromax for oral suspension, 100mg/5ml and 200mg/5ml. The drug is a macrolide antibacterial drug indicated for mild to moderate infections caused by designated, susceptible bacteria. Zithromax oral suspension had annual US sales of $110.6 million as per IMS MAT June 2016 data. The announcement was made at the fag end of trading session yesterday, 1 September 2016.
Bharti Airtel said that the High Court Division of the Supreme Court of Bangladesh (High Court) approved the merger of Airtel Bangladesh into Robi Axiata owing to certain conditions. The proposed merger is also subject to fulfilment of other conditions stipulated in the agreement and is expected to be completed in the fourth quarter of 2016, Bharti Airtel said. The announcement was made after market hours yesterday, 1 September 2016. It may be recalled that Bharti Airtel had in January this year announced signing a definitive agreement with Axiata Group Berhad (Axiata) to merge their respective telecommunications subsidiaries in Bangladesh namely Robi Axiata and Airtel Bangladesh.
Hero MotoCorp reported a 28% growth in its total two-wheeler sales at 6.16 lakh units in August 2016 over August 2015. The company said it will launch 15 new products across segments in its domestic and global markets this financial year (FY 2017) out of which three motorcycles will be introduced in the domestic market before the festive season. These includes the new Achiever 150cc motorcycle and the Super Splendor and Passion PRO with the Hero patented i3S technology, the company said in a statement. The announcement was made after market hours yesterday, 1 September 2016.
SML Isuzus total sales rose 12.7% to 1,082 units in August 2016 over August 2015. The company announced the monthly sales volume data after market hours yesterday, 1 September 2016.
Container Corporation of India turns ex-dividend today, 2 September 2016, for final dividend of Rs 5.50 per share for the year ended 31 March 2016.
Indian Oil Corporation turns ex-dividend today, 2 September 2016, for final dividend of Rs 8.50 per share for the year ended 31 March 2016.
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Tata Power Company after market hours yesterday, 31 August 2016, announced that the company operating through its Strategic Engineering Division (SED), has signed a letter of intent (LOI) with Javelin Joint Venture team, a partnership between Raytheon and Lockheed Martin, to explore co-development and production of the Javelin anti-armour missile system. As part of the LOI, the Javelin Joint Venture (JVV) and Tata Power Company SED will create a strategy to co-develop and produce Javelin missile system and integrate platform mounts to meet Indian requirements. This includes ground combat vehicles, dismounted infantry and rotorcraft applications, Tata Power Company said.
Punjab National Bank (PNB) after market hours yesterday, 31 August 2016, announced that lending rates based on marginal cost of funds to be effective from today, 1 September 2016. The banks Marginal Cost of Funds based Lending Rate (MCLR) for overnight loans will be 9.10%, for one month will be 9.15% and for three months will be 9.25%. The MCLR on 6-month loans will be 9.30% and for one-year loans the rate would be 9.35%, the bank said. MCLR for three-year loans would be at 9.50% and loans with five-year maturity would carry an MCLR of 9.65%, the bank said.
Oriental Bank of Commerce after market hours yesterday, 31 August 2016, announced that it intends to raise Tier 1 capital through private placement of Basel III compliant additional tier 1 bonds of Rs 10 lakh each at par aggregating to Rs 250 crore with an option to retain oversubscription of upto Rs 750 crore. The proposed bonds issue has been rated as A+ with Stable Outlook by India Ratings and A+ (Hyb.) with negative outlook by ICRA.
Thermax after market hours yesterday, 31 August 2016, announced that it has invested Rs 6 crores in First Energy (FE). Further the company has increased its shareholding in FE from 33% to 54.67% making it a subsidiary of the company. FE is an alternative energy solutions company in which Thermax had acquired 33% stake in July 2015.
HCC after market hours yesterday, 31 August 2016, announced that the Cabinet decision that requires Government agencies to pay 75% of arbitral awards will result in HCCs debt being reduced by half. HCC has arbitration awards for over Rs 3,200 crore and with the todays cabinet decision, the company will get 75 per cent of this amount immediately. Similarly, claims worth around Rs 5,000 crore are in arbitration process. Todays cabinet decision will further help HCC to secure these awards within a duration of 12 months.
HCCs Chairman and Managing Director said that the company is pleased with the Cabinets decision on payment of arbitration awards to infrastructure companies. HCC will immediately be able to reduce its debt by almost half as a result and within 12 to 24 months, materially reduce it even further. With this, HCC will be able to participate in countrys infrastructure development in a much bigger way.
HCC has a standalone debt of Rs 4900 crore. The Cabinet decision will help the company to substantially reduce this amount, the company added.
The Cabinet Committee on Economic Affairs (CCEA) yesterday, 31 August 2016, approved a series of initiatives to revive the construction sector. As per the new initiatives, CCEA allowed contractors to move to the new speedier arbitration process, approved release of 75% of the amount in dispute against margin free bank guarantee and provided for a conciliation board comprising of independent subject experts in order to ensure speedy disposal of pending or new cases.
C & C Constructions after market hours yesterday, 31 August 2016, announced that it has won a project worth Rs 73.61 crore from Power Grid Corporation of India. The order is for transmission line package associated with Northern Region Strengthening Scheme XXXV. Duration for completion of project is 12 months from the date of contract. With this order, the company has an order book of approximately Rs 151 crore in transmission sector.
Union Bank of India after market hours yesterday, 31 August 2016, announced that it has concluded Basel III compliant additional tier I (AT1) bonds of face value Rs 10 lakh each at par aggregating to Rs 1,000 crore on private placement basis bearing 9.50% per annum coupon payable annually. The AT1 Bonds are rated IND AA/ Stable by India Ratings and Research Private Limited (India Ratings) and CARE AA by Credit Analysis & Research (CARE). The bonds are issued with call option, which shall be discretionary, may or may not be exercised on the tenth anniversary from the deemed date of allotment i.e. the tenth coupon payment date or any coupon payment date thereafter. The pay-in date is scheduled on 15 September 2016.
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TCS announced that it has developed an innovative digital solution to connect Intelligent LEDs, to GEs Predix operating system for the industrial Internet through Intel Atom-based gateways, providing critical analytics to save significant time and costs in the manufacturing process. The announcement was made after market hours yesterday, 30 August 2016.
RBL Bank debuts on the secondary equity market today, 31 August 2016. The bank had priced the initial public offer (IPO) at the top end of the Rs 224 to Rs 225 per share price band for the IPO. The initial public offer (IPO) of private sector bank RBL Bank, erstwhile Ratnakar Bank, ended with overwhelming response on 23 August 2016. The IPO received bids for 263.87 crore shares. The IPO was subscribed 69.62 times.
Housing Development Finance Corporation (HDFC) said it is aiming to raise Rs 500 crore by issuing Rupee denominated bonds to overseas investors. The issue will open today, 31 August 2016 and will close tomorrow, 1 September 2016. The bonds will be listed on the London Stock Exchange (LSE). The announcement was made after market hours yesterday, 30 August 2016.
UltraTech Cement will be watched. The Reserve Bank of India (RBI) notified yesterday, 30 August 2016, that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 30% of the paid up capital of Ultra Tech Cement under the Portfolio Investment Scheme (PIS). The purchases could be made through primary market and stock exchanges. RBI stated that the company has passed resolutions at its Board of Directors level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares by FIIs/RFPIs.
Cox & Kings consolidated net profit fell 23.67% to Rs 108.07 crore on 3.46% decline in total income to Rs 2076.56 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 30 August 2016.
Indraprastha Medical Corporations net profit rose 18.86% to Rs 8.38 crore on 3.42% growth in net total income from operations to Rs 194.01 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 30 August 2016.
Maruti Suzuki India turns ex-dividend today, 31 August 2016, for final dividend of Rs 35 per share for the year ended 31 March 2016.
ONGC turns ex-dividend today, 31 August 2016, for final dividend of Rs 3.25 per share for the year ended 31 March 2016.
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Wipro after market hours yesterday, 29 August 2016, announced a partnership with Stibo Systems, a global leader in multi-domain Master Data Management (MDM) solutions. As part of the partnership, the two companies will collaborate to offer MDM solutions. This partnership is aimed at building trust-worthy data foundations to help joint customers derive accurate insights as they embrace digital transformation, Wipro and Stibo Systems said in a joint press release.
Coal India after market hours yesterday, 29 August 2016, announced that it has fixed 9 September 2016 as the record date for the purpose of buyback of equity shares. The companys board on 11 July 2016, approved buyback of shares at a price of Rs 335 per share for an aggregate consideration not exceeding Rs 3650 crore through the tender offer route. The companys promoters would participate in the buyback.
Zee Entertainment Enterprises (Zee) in its clarification with regard to news item titled Sony likely to buy Ten Sports from Zee Entertainment for about Rs 2000 crore said that the company is at an advanced stage of discussion for sale of the sports business with potential buyers. However, owing to confidentiality provisions, the company is unable to comment on specific details or timelines, Zee said. Appropriate disclosures will be made as and when any reporting event arises, the company added. The company issued the clarification after market hours yesterday, 29 August 2016.
Mahindra & Mahindra (M&M) after market hours yesterday, 29 August 2016, announced the incorporation of a subsidiary company viz. Bristlecone Middle East DMCC, for providing business consulting, software implementation and related support services.
eClerx Services board of directors at its meeting held yesterday, 29 August 2016, approved a proposal for buyback of equity shares of the company for an aggregate amount not exceeding Rs 234 crore at a price not exceeding Rs 2,200 per share. At maximum buyback price, the buyback translates into approximately 10.68 lakh equity shares of the company, representing about 2.62% of the total paid up equity share capital of the company as on 31 March 2016. The promoters and promoter group of the company intend to participate in the proposed buyback. The announcement was made after market hours yesterday, 29 August 2016.
Oracle Financial Services Software turns ex-dividend today, 30 August 2016, for dividend of Rs 100 per share for the year ended 31 March 2016.
Chennai Petroleum Corporation turns ex-dividend today, 30 August 2016, for dividend of Rs 4 per share for the year ended 31 March 2016.
HSIL turns ex-dividend today, 30 August 2016, for dividend of Rs 4 per share for the year ended 31 March 2016.
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GMR Infrastructure said that its subsidiary, GMR Airports (GAL), has won the international competitive bid for development and operation of Mopa Greenfield Airport in North Goa. The concession period for the Greenfield project will be 40 years with a possible extension of another 20 years through a bid process. The airport will be built under the BOT (Build Operate Transfer) model. GMR won the bid through a closely contested competitive bid process with Airports Authority emerging as the second highest bidder followed by the consortium of Essel InfraIncheon emerging third. The letter of award is expected to be issued within 60 days, while signing of concession agreement will be done within 45 days from the date of issuance of award letter. The regulatory regime for the concession will be hybrid till with 30% cross subsidy. The concession offers 232 acres of land for commercial city side development for a period of 60 years. The announcement was made after trading hours on Friday, 26 August 2016.
Indian Oil Corporation (IOC) will consider bonus issue of shares and its Q1 June 2016 results today, 29 August 2016.
Bharat Forge said it acquired 64,000 shares of its wholly-owned step down UK subsidiary - Bharat Forge International (BFIL), from Bharat Forge Global Holding GMBH, for $4,544,000 (around Rs 30 crore). This was part of restructuring of overseas subsidiaries, the company said.
Net profit of Procter & Gamble Hygiene and Health Care rose 2.16% to Rs 109.40 crore on 0.71% increase in total income to Rs 580.45 crore in Q4 June 2016 over Q4 June 2015. The result was announced after trading hours on Friday, 26 August 2016.
Castrol India will be watched. We reference to a news report captioned, n++Castrol to sell $261 million shares via block Traden++, the company clarified after trading hours on Friday, 26 August 2016, that it was not aware of any stake sale in the company by Castrol, a unit of oil major BP Plc, and said recent news reports that such a transaction would take place were based on market speculation.
Indusind Bank said it opened its first branch in Pathankot, Punjab. With this, the bank now has 81 branches in Punjab. The announcement was made after trading hours on Friday, 26 August 2016.
Bharat Financial Inclusion said it issued commercial papers of an aggregate amount of Rs 25 crore on 26 August 2016, which have been rated A1 + by a leading rating agency. Instruments with the aforesaid rating are considered to have a very strong degree of safety regarding timely payment of financial obligations. Such instruments carry the lowest credit risk. The aggregate amount of commercial paper outstanding as on date is Rs 300 crore. The announcement was made after trading hours on Friday, 26 August 2016.
Claris Lifesciences has received approval from the US health regulator for generic Flumazenil injection used for reversal of the sedative effects of benzodiazepines in the US market. The announcement was made on Saturday, 27 August 2016.
In a separate announcement after market hours on Friday, 26 August 2016, Claris Lifesciences updated that its wholly-owned subsidiary, Claris Injectables, (CIL) had undergone an US Food and Drug Administration (USFDA) inspection, classified as Prior Approval Inspection (PAI) from 16 August 2016 to 26 August 2016, on the Plant 1 (Clarion 1) of its manufacturing facility situated at Charcharvadi, Vasna. CIL has received five 483s during the inspection, it is confident to reply to these within 15 business days, with corrective and preventive actions to address the same. PAI inspections are part of a normal course of business to approve the under approval Abbreviated New Drug Application (ANDA), the company has 24 ANDAs under approval with a total addressable market size of the under approval products estimated to be around $2 billion.
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State Bank of India (SBI) and ICICI Bank will be in focus after the Reserve Bank of India (RBI) continued to classify these two banks as domestic systemically important banks (D-SIBs). The additional Common Equity Tier 1 (CET1) requirement for D-SIBs has already been phased-in from 1 April 2016 and would become fully effective from 1 April 2019. The additional CET1 requirement will be in addition to the capital conservation buffer. On account of being classified as D-SIB, there is additional CET1 requirement of 0.6% of Risk Weighted Assets (RWAs) for SBI and 0.2% of RWAs for ICICI Bank.
Among corporate news, Tata Motors is scheduled to announce Q1 June 2016 results today, 26 August 2016.
National Aluminium Company (Nalco) will be in focus after the manager to the companys buyback offer made the public announcement for the buyback of equity shares. Nalco proposes to buyback upto 64.43 crore equity shares at Rs 44 per share on proportionate basis through the tender offer route. The buyback offer aggregates to Rs 2834.96 crore. The buyback offer size represents 22.15% of the aggregate of the fully paid-up share capital and free reserves, as per the audited accounts of the company for the financial year ended 31 March 2015. The buyback offer opens on 30 August 2016 and closes on 14 September 2016. The promoter of the company viz. the Government of India (GoI) intends to participate in the buyback offer. As on 30 June 2016, GoI held 80.93% stake in Nalco. The companys board of directors had approved buyback on 25 May 2016.
Biocon will be watched after a regulatory submission for proposed biosimilar Trastuzumab, developed jointly by Biocon and Mylan, was accepted for review by European Medicines Agency (EMA). The announcement was made after market hours yesterday, 25 August 2016.
EMA has accepted for review Mylans Marketing Authorization Application (MAA) for a proposed biosimilar Trastuzumab, which is used to treat certain HER2-positive breast and gastric cancers. Mylan and Biocon, which have co-developed this proposed biosimilar, anticipate that this may be the first MAA for a Trastuzumab biosimilar accepted by the EMA for review. This is the second biosimilar submission developed by the partnership that has been accepted for review in Europe. Last month, Mylans MAA for the proposed biosimilar Pegfilgrastim was accepted for review by EMA.
This filing includes analytical, functional and pre-clinical data, as well as results from the pharmacokinetics (PK) and confirmatory efficacy/safety global clinical trials for Trastuzumab. The PK study had demonstrated measured bioequivalence of Mylans and Biocons proposed Trastuzumab biosimilar relative to that of the reference drug. The second study, the HERITAGE Study, evaluated the efficacy, safety and immunogenicity of the proposed biosimilar Trastuzumab in comparison to branded Trastuzumab.
Worldwide, nearly 2 million women are diagnosed with breast cancer each year, making it the second most common cancer in the world. HER2-positive breast cancer is an aggressive form of breast cancer that tests positive for the human epidermal growth factor receptor 2 (HER2), which promotes cancer cell growth. Approximately 20% to 30% of primary breast cancers are HER2-positive. Trastuzumab is indicated for the treatment of certain HER2-positive early stage and metastatic breast cancer as well as HER2-positive metastatic gastric cancer.
TCS announced new software that enables retailers to leverage insightful data either from in-store sensors or other Internet of Things (IoT) devices to deepen relationships with customers through more personalized customer engagement strategies. The software helps established retailers compete more effectively for the loyalty of consumers. It is designed to counter the bombardment of consumers with random, irrelevant and untimely offers. Retailers are increasingly using IoT technologies to boost customer loyalty through customized marketing campaigns and to close sales - when, where and however the customer chooses. The new software enables retailers to build trusted consumer relationships over time by delivering valued, personalized experiences in the right context and driven by insights from a variety of real world and online data sources. The announcement was made after market hours yesterday, 25 August 2016.
J. Kumar Infraprojects said that J Kumar - CRTG joint venture (JV) won a contract worth Rs 5012 crore from Mumbai Metro Rail Corporation (MMRC) for Phase-3 of the city metro project work to begin by October 2016. The announcement was made after market hours yesterday, 25 August 2016.
MMRC had issued the LoA to J Kumar - CRTC JV for the 3rd phase of the Metro project and the project was assigned to the JV on the 5 July 2016.
The work order calls for design and construction of underground sections induding four underground stations at Dharavi, BKC, Vidhyanagari and Santacruz and associated tunnels worth approximately Rs 2858 crore. Further, the contract includes design and construction of underground sections including CSIA domestic airport, Sahar Road and CSIA International airport and associated bored tunnels worth approximately Rs 2153 crore.
The 33.5-kilometre long, Metro -3 corridor will stretch across 27 stations and will be built underground. The requisite preparatory work like conducting surveys and related investigations are in progress and the project work is likely to commence in October 2016.
Gammon Infrastructure Projects net profit fell 1.84% to Rs 5.88 crore on 15.94% rise in total income to Rs 85.66 crore in Q1 June 2016 over Q1 June 2015. The announcement was made after market hours yesterday, 25 August 2016.
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Bosch said it has fixed 6 September 2016 as the record date for the proposed buyback offer of the company. The announcement was made after market hours yesterday, 24 August 2016.
InterGlobe Aviation will be watched. With reference to news report stating that Tigerair will take back the 12 jets subleased to Indigo, InterGlobe Aviation clarified that Tiger Airways has not asked for any of the airplanes leased to the company to be returned before the end of the contracted lease terms. The expiry of the lease of the first of these airplanes is during the second half of the calendar year 2017. The announcement was made after market hours yesterday, 24 August 2016.
InterGlobe Aviation is the operator of low cost passenger airline IndiGo which is Indias largest airline with a market share of 38.10% in June 2016.
Britannia Industries will be watched. With respect to news report stating that ITC has moved court over Britannia copying Sunfeast biscuit packaging, Britannia Industries clarified that ITC has filed a suit against Britannia Industries at Delhi High Court alleging that Britannia is copying the color combination of ITCs Sun Feast Farmlite Digestive- All Good Biscuit Packs for its Nutri Choice Digestive Zero biscuit packs. The matter came up for hearing before Delhi High Court on 22 August 2016 and 24 August 2016. The next date of hearing is 31 August 2016. No injunction (stay) has been granted as of now. As the matter is sub-judice, the company cannot comment further on this matter, Britannia Industries said. The announcement was made after market hours yesterday, 24 August 2016.
IDBI Bank said that the bank proposes to issue an additional Tier 1 bonds amounting to Rs 1500 crore with deemed date of allotment on 30 August 2016. The announcement was made after market hours yesterday, 24 August 2016.
PNC Infratechs net profit jumped 145.59% to Rs 64 crore on 22.05% rise in total income to Rs 532.44 crore in Q1 June 2016 over Q1 June 2015. The announcement was made after market hours yesterday, 24 August 2016.
Century Plyboards (India) said that the company has disinvested its entire shareholding in its subsidiary Innovation Pacific Singapore Pte. (IPSPL). Consequently, both IPSPL and step-down subsidiary Vietnam Innovation Pacific JSC has ceased to be subsidiaries of the company with effect from 24 August 2016. The announcement was made after market hours yesterday, 24 August 2016.
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Aurobindo Pharmas consolidated net profit rose 23.81% to Rs 584.96 crore on 12.42% growth in total income to Rs 3741.79 crore in Q1 June 2016 over Q1 June 2015. Earnings before interest, taxation, depreciation and amortization (EBITDA) margin expanded to 23.9% in Q1 June 2016 from 22% in Q1 June 2015. Formulations business rose 15.9% to Rs 3032 crore in Q1 June 2016 over Q1 June 2015. API business rose 1.6% growth to Rs 734.5 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 23 August 2016.
N. Govindarajan, Managing Director of the company said that with focus on execution and capability enhancements the company continues to progress on specialty generics for a sustained long term growth.
Shares of Idea Cellular will be in focus after the company termed reports which indicated that the company is exploring options for strategic deal with Vodafone for potential merger as absolutely untrue and preposterous. The clarification was made after market hours yesterday, 23 August 2016.
eClerx Services scheduled a board meeting on 29 August 2016, to consider a proposal of buyback of equity shares. The announcement was made after market hours yesterday, 23 August 2016.
Indo Count Industries said that its board approved 5-for-1 stock split. The announcement was made after market hours yesterday, 23 August 2016.
Manpasand Beverages said it has completed setting-up of its new manufacturing facility in Haryana. Located in Ambala, the new facility will contribute additional 45,000 to 50,000 cases per day to the companys existing capacity of 1.20 lakh-1.25 lakh cases per day. The total investment for this facility was around Rs 160 core and has been financed though the initial public offer (IPO) proceeds. In 2015, Manpasand had raised Rs 400 crore through an IPO and one of the primary objectives of this was setting-up a manufacturing facility at Ambala in Haryana. With the Ambala facility in near operational phase, Manpasand now has five manufacturing facilities located in various parts of India. It has two manufacturing facilities at Vadodara in Gujarat, one in Varanasi, UP, one in Dehradun and the new one at Ambala in Haryana. The company said it is also planning to set up a new plant in South India in future. The announcement was made after market hours yesterday, 23 August 2016.
Suzlon Energy announced that the securities issue committee of the board of directors of the company approved allotment of 38.95 lakh equity shares of Rs 2 each on conversion of 1,000, $546.916 step-up convertible bonds due in July 2019 of $1,000 each at a conversion price of Rs 15.46 per equity share. The allotment was pursuant to the conversion notice received from a bondholder. The announcement was made after market hours yesterday, 23 August 2016.
Trent said it has fixed 14 September 2016 as the record date for the proposed 10-for-1 stock split. The announcement was made after market hours yesterday, 23 August 2016.
The board of directors of 8K Miles Software Services will consider stock-split and issue of bonus shares.
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Hindustan Petroleum Corporation (HPCL)s net profit rose 30% to Rs 2098.38 crore on 5.67% decline in total income to Rs 51936.30 crore in Q1 June 2016 over Q1 June 2015. Average gross refining margin in Q1 June 2016 was $6.83 per barrel as against $8.56 per barrel in Q1 June 2015. The result was announced after market hours yesterday, 22 August 2016.
Based on the approval received from Government of India, HPCL accounted for budgetary support amounting to Rs 328.41 crore in Q1 June 2016 towards under recovery on sale of PDS kerosene (SKO), compared with Rs 450.61 crore in Q1 June 2015. State-run oil marketing companies bear under-recoveries on domestic sale of LPG and kerosene at controlled prices. The government has already freed pricing of petrol and diesel.
In Q1 June 2016, discount from upstream oil company viz., ONGC amounted to Nil in respect of crude oil purchased from ONGC, compared with Rs 218.25 crore accounted in Q1 June 2015.
GAIL (India) and Silicon Valley-based Bloom Energy signed a memorandum of understanding (MoU) to deploy revolutionary natural gas-based fuel cell technology to generate electricity. The announcement was made after market hours yesterday, 22 August 2016.
The solid oxide fuel cell (SOFC) technology of Bloom Energy Servers convert fuel into electricity using natural gas as the base fuel to generate reliable and resilient electricity in a highly efficient non-combustible process that reduces emissions of greenhouse gas and harmful air pollutants, with minimal use of water vis-n++-vis the conventional power producing technologies. The Bloom Energy Servers could be installed onsite at any operating premises or building and can be plugged into natural gas pipeline to generate uninterrupted, efficient, noise-less base load power round-the-clock.
GAILs subsidiary at Bengaluru is already supplying natural gas for energizing a multi-MW Bloom Energy project for a large global technology company at the Technology Park in Bangalore.
The unique tie-up seeks to leverage the strengths of both the organizations. Whilst GAIL brings a portfolio of natural gas to ensure reliable and competitively available Natural Gas for Bloom Energy projects along its integrated gas supply networks, Bloom Energys power systems run on advanced solid oxide fuel cell technology that are not just acknowledged as the most efficient producers of electricity based on Natural Gas but also combines the advantage of requiring a tenth of the space required for generating equivalent power through other modes. The MoU provides an alignment of a shared vision between GAIL and Bloom Energy and opens up an opportunity for Indian consumers to experience bundled and reliable service by the two leading brands for expanding the distributed power generation systems in India.
Aurobindo Pharma and Tata Power Company are scheduled to announce Q1 June 2016 earnings today, 23 August 2016.
Shriram Transport Finance Company announced that the allotment committee - non-convertible debentures (NCDs) allotted 250 secured redeemable NCDs of face value of Rs 10 lakh each, aggregating to Rs 25 crore on private placement basis. The zero coupon NCDs mature 1065 from the date of allotment. The announcement was made after market hours yesterday, 22 August 2016.
MEP Infrastructure Developers said that the company has received the Letter of Acceptance (LOA) dated 22 August 2016 from National Highways Authority of India (NHAI) informing that the company has been engaged as the contractor for the project of collection of user fee through fee collection agency on the basis of competitive bidding through (e-tender) for Ghangari of National Highway No. 2 in Jharkhand.
Indo Count Industries said that a meeting of the board of directors of the company is scheduled to be held today 23 August 2016, to consider sub-division of equity shares. The announcement was made after market hours yesterday, 22 August 2016.
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Sun TV Networks net profit rose 19.02% to Rs 233.06 crore on 9.89% growth in total income to Rs 782.38 crore in Q1 June 2016 over Q1 June 2015. Sun TV Networks earnings before interest, taxation, depreciation and amortization (EBITDA) rose 7.25% to Rs 436.43 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours on Friday, 19 August 2016.
State Bank of India (SBI) said that the committee of directors will meet on 24 August 2016, to consider and examine the status and decide on long term AT1 fund raising in single/multiple tranches in domestic/foreign currency through a public offer and/or private placement during the financial year ending 31 March 2017. The announcement was made on Saturday, 20 August 2016.
NBCC (India) said that Archaeological Survey of India (ASI), Government of India has executed Memorandum of Understanding (MOU) with the company on 19 August 2016 for assigning work for construction of Institute of Archaeology and UNESCO Category-II Centre at Sector Knowledge Park-II, Greater Noida amounting to about Rs 120 crore. The announcement was made on Saturday, 20 August 2016.
Among key earnings, NTPC and HPCL are scheduled to announce Q1 June 2016 results today, 22 August 2016.
IL&FS Engineering and Construction Company and Unitech Power Transmission joint venture has received a Letter of Award (LoA) from Power Grid Corporation of India (PGCIL) for supply contract for tower package for 765 kilovolt D/C Bhujn++ Banaskanta Transmission Line associated with Green Energy Corridors: Inter-State Transmission Scheme (ISTS) - Part C, along with contract for construction works of this line in the state of Gujarat. The total value of this contract is Rs 136.26 crore, and the project completion period is 23 months from the date of issue of the LOA. IL&FS Engineering Services is the lead partner for this contract. This contract has been won under ICB bidding process, and project is funded under KWU loan. The announcement was made on Saturday, 20 August 2016.
TVS Srichakras net profit fell 6% to Rs 46.51 crore on 8.4% growth in net sales to Rs 507.99 crore in Q1 June 2016 over Q1 June 2015. The announcement was made on Saturday, 20 August 2016.
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State Bank of India (SBI) and its associate banks will be in focus after SBI after trading hours yesterday, 18 August 2016, announced the merger of 5 associate banks viz. State Bank of Bikaner and Jaipur (SBBJ), State Bank of Mysore (SBM), State Bank of Travancore (SBT), State Bank of Hyderabad and State Bank of Patiala with itself. SBI also announced the merger of unlisted Bharatiya Mahila Bank (BMBL) with itself. As per the swap ratio for the merger, 28 equity shares of SBI will be issued for every 10 shares held in SBBJ. For both SBM and SBT, the swap ratio for merger is 22 shares of SBI for every 10 shares held in SBM and SBT. SBI had announced in May 2016 that it was considering the merger of 5 associate banks and BMBL with itself.
Wipro said that the company has made minority strategic investment to acquire a minority stake of less than 20% in Intsights Cyber Intelligence for $1.5 million. Intsights offers threat intelligence driven security platform. The announcement was made after market hours yesterday, 18 August 2016.
Indiabulls Housing Finance announced before market hours today, 19 August 2016 that the company proposes to issue upto 7,000 secured non-convertible redeemable debentures with a face value of Rs 10 lakh each aggregating to upto Rs 700 crore plus greenshoe option, if any, on private placement basis, pursuant to special resolution passed by the shareholders of the company at the 10th Annual General Meeting held on 7 September 2015. The issue will open and close on the same day on 23rd August 2016 NCDs have tenor of 5 years and carry a coupon in the range of 8.55% to 8.80% per annum payable annually and on maturity.
PC Jeweller announced after market hours yesterday, 18 August 2016 that the company is opening its new showroom on Sunday, 21 August 2016, at Najafgarh (Delhi). After this the company will have total 65 showrooms located across 52 cities in India.
UltraTech Cement announced after market hours yesterday, 18 August 2016 a proposal to issue secured redeemable non-convertible debentures amounting Rs 500 crore on private placement basis. NCDs have tenure of 10 years and carry coupon of 7.53% per annum. .
Shipping Corporation of Indias net profit dropped 72.56% to Rs 55.91 crore on 21.66% decline in total income to Rs 875.94 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 18 August 2016.
NHPC announced after market hours yesterday, 18 August 2016, the commencement of commercial operation of a 40 megawatts unit of Teesta Low Dam H.E. Project, Stage IV (TLDP-IV) in West Bengal. The entire power generated from TLDP-IV has been allocated to West Bengal state and the same shall be supplied through West Bengal State Electricity Distribution Company (WBSEDCL), NHPC said.
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