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Kothari Sugars & Chemicals standalone net profit declines 24.65% in the March 2017 quarter
Jun 16,2017

Net profit of Kothari Sugars & Chemicals declined 24.65% to Rs 9.14 crore in the quarter ended March 2017 as against Rs 12.13 crore during the previous quarter ended March 2016. Sales rose 42.15% to Rs 98.07 crore in the quarter ended March 2017 as against Rs 68.99 crore during the previous quarter ended March 2016.

For the full year,net profit rose 702.54% to Rs 9.47 crore in the year ended March 2017 as against Rs 1.18 crore during the previous year ended March 2016. Sales rose 28.46% to Rs 316.75 crore in the year ended March 2017 as against Rs 246.58 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales98.0768.99 42 316.75246.58 28 OPM %21.1127.82 -11.477.23 - PBDT19.9521.02 -5 32.2217.41 85 PBT16.1917.45 -7 17.592.77 535 NP9.1412.13 -25 9.471.18 703

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Board of Housing & Urban Development Corp. recommends dividend
Jun 16,2017

Housing & Urban Development Corp. announced that the Board of Directors of the Company at its meeting held on 30 May 2017, inter alia, have recommended the dividend of Rs 0.5 per equity Share (i.e. 5%) , subject to the approval of the shareholders.

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Jayant Agro-Organics spurts after board recommends bonus issue
Jun 16,2017

The announcement was made during trading hours today, 16 June 2017.

Meanwhile, the S&P BSE Sensex was down 33.80 points, or 0.11% to 31,041.93.

On the BSE, 64,000 shares were traded in the counter so far, compared with average daily volumes of 11,912 shares in the past one quarter. The stock had hit a high of Rs 1,038 so far during the day, which is also a record high for the counter. The stock had hit a low of Rs 980 so far during the day. The stock hit a 52-week low of Rs 203.50 on 16 June 2016.

The stock had underperformed the market over the past one month till 15 June 2017, falling 0.79% compared with 1.36% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 50.09% as against Sensexs 4.81% rise. The scrip had also outperformed the market in past one year, rising 369.68% as against Sensexs 17.15% rise.

The small-cap company has equity capital of Rs 7.50 crore. Face value per share is Rs 5.

Jayant Agro-Organics said the recommendation to issue bonus shares is subject to the approval of shareholders of the company at the annual general meeting.

Further, the board also recommended raising upto Rs 250 crore through issue of securities on private placement basis.

Jayant Agro-Organics consolidated net profit surged 94.88% to Rs 15.59 crore on 12.71% growth in net sales to Rs 420.56 crore in Q4 March 2017 over Q4 March 2016.

Jayant Agro-Organics is an emerging global oleochemical company with leadership in the castor-based specialty chemicals industry.

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Atal Pension Yojana (APY) can now be subscribed digitally
Jun 16,2017

Pension Fund Regulatory and Development Authority (PFRDA) has now introduced n++APY@eNPSn++ which involves a complete digital enrolment process. This is the latest in the series of various initiatives taken by PFRDA for expansion of outreach of Atal Pension Yojana (APY), to give additional push to cover the as yet unreached population at greater ease. PFRDA has conducted meetings with Banks and Deptt of Post at Kolkata, Bengaluru & Mumbai respectively for the earliest roll out of the facility call.

The APY was launched by the Prime Minister of India on 9th May, 2015 and became operational from 1st June, 2015. APY is available for all citizens of India in the age group of 18-40 years. Under the APY, the subscribers would receive a minimum guaranteed pension of Rs. 1000 per month, Rs. 2000 per month, Rs. 3000 per month, Rs. 4000 per month, Rs. 5000 per month, at the age of 60 years, depending on their contributions, which itself would vary on the age of joining the APY.

APY subscribers base is more than 54 Lakhs subscribers. APY fund managers have generated a return of 13.91%.

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Volumes jump at Ipca Laboratories counter
Jun 16,2017

Ipca Laboratories clocked volume of 6.87 lakh shares by 14:20 IST on BSE, a 135.42-times surge over two-week average daily volume of 5,000 shares. The stock slumped 9.84% to Rs 462.65 after the company said that drugs manufactured at its facilities at SEZ Indore (Pithampur), Piparia (Silvassa) and Ratlam (Madhya Pradesh) have been banned from the US market by the US Food and Drug Administration (USFDA). The drug regulator cited violation of current good manufacturing norms for taking the step against the company. The announcement was made after market hours yesterday, 15 June 2017.

Vesuvius India notched up volume of 70,000 shares, a 20.88-fold surge over two-week average daily volume of 3,000 shares. The stock declined 1.23% to Rs 1,260.

HDFC saw volume of 20 lakh shares, a 12.03-fold surge over two-week average daily volume of 1.66 lakh shares. The stock rose 0.49% to Rs 1,645.85.

Torrent Pharmaceuticals clocked volume of 1.03 lakh shares, a 11.96-fold surge over two-week average daily volume of 9,000 shares. The stock fell 2.07% to Rs 1,210.80.

Aban Offshore saw volume of 16.88 lakh shares, a 11.93-fold rise over two-week average daily volume of 1.42 lakhs shares. The stock jumped 11.73% to Rs 194.35.

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DFM Foods recovers after recent sharp slide
Jun 16,2017

Meanwhile, the S&P BSE Sensex was up 31.04 points, or 0.1% at 31,106.77. The S&P BSE Small-Cap index was up 51.30 points, or 0.33% at 15,697.19.

High volumes were traded on the counter. On the BSE, 2,908 shares were traded on the counter so far as against the average daily volumes of 2,454 shares in the past one quarter. The stock had hit a high of Rs 1,299 and a low of Rs 1,205.95 so far during the day. The stock had hit a record high of Rs 2,433.60 on 17 June 2016 and a 52-week low of Rs 1,122 on 7 June 2017.

The stock had underperformed the market over the past one month till 15 June 2017, declining 28.12% compared with the Sensexs 2.49% rise. The scrip had also underperformed the market over the past one quarter declining 30.79% as against the Sensexs 5.71% rise. The scrip had also underperformed the market over the past one year declining 47.7% as against the Sensexs 16.27% rise.

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

Shares of DFM Foods had declined 11.52% in the preceding five trading sessions to settle at Rs 1,202.15 yesterday, 15 June 2017, from its close of Rs 1,358.70 on 8 June 2017.

DFM Foods net profit fell 68.5% to Rs 3.66 crore on 24.2% decrease in net sales to Rs 93.17 crore in Q4 March 2017 over Q4 March 2016.

DFM Foods is engaged in manufacturing and marketing of snack foods.

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Pharma stocks witness selling pressure
Jun 16,2017

IPCA Laboratories (down 11.22%), Lupin (down 4.23%), Divis Laboratories (down 2.25%), Cadila Healthcare (down 2.14%), Cipla (down 1.78%), Sun Pharmaceutical Industries (down 1.75%), Dr Reddys Laboratories (down 1.23%), Strides Shasun (down 0.97%), Piramal Enterprises (down 0.56%) and Wockhardt (down 0.07%), edged lower. Glenmark Pharmaceuticals (up 0.31%), Alkem Laboratories (up 0.41%), GlaxoSmithKline Pharmaceuticals (up 0.75%) and Aurobindo Pharma (up 1.76%), edged higher.

The S&P BSE Sensex was up 34.56 points, or 0.11% at 31,110.29.

According to media reports, US President Donald Trumps administration is preparing an executive order aimed at lowering US drug costs. Officials in the administration will meet later today, 16 June 2017.

One policy being discussed for inclusion in the order is expressing support for value-based agreements, a drug industry-backed proposal in which pharmaceutical companies and health insurers develop arrangements to pay for products depending on how well they work, reports added.

A domestic brokerage reportedly said that this move could further create pricing pressure and hurt Indian pharma companies that are already facing regulatory issues and currency woes. The broker continued to remain cautious on the sector, reports added.

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Indiabulls Housing Finance allots NCDs aggregating Rs 1100 crore
Jun 16,2017

Indiabulls Housing Finance has allotted its second tranche of Secured, Redeemable, Non-Convertible Debentures of face value Rs. 10 lakh each (NCDs) aggregating to Rs.1100 crore on 16 June 2017.

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Outcome of board meeting of Jayant Agro Organics
Jun 16,2017

The Board of Directors of Jayant Agro Organics at its meeting held on 16 June 2017 approved the following -

1. Recommendation of the Appointment of Statutory Auditory to the members at the Ensuing Annual General Meeting.

2. Approval of Date of Annual General Meeting (AGM) and Book Closure for the purpose of AGM and Payment of Final Dividend on the Equity Shares of the Company.

3. Issue of Bonus Shares in the ratio of 1:1 subject to the approval of Members of the Company at the AGM.

4.Issue of Securities on Private Placement not exceeding Rs 250 crore.

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Water Storage Level of 91 major reservoirs of the Country continues to be at 20% of their capacity
Jun 16,2017

The water storage available in 91 major reservoirs of the country for the week ending on June 15, 2017 was 30.903 BCM, which is 20% of total storage capacity of these reservoirs. This percentage was at 20 for the week ending on June 08, 2017. The level of June 15, 2017 was 126% of the storage of corresponding period of last year and 107% of storage of average of last ten years.

The total storage capacity of these 91 reservoirs is 157.799 BCM which is about 62% of the total storage capacity of 253.388 BCM which is estimated to have been created in the country. 37 Reservoirs out of these 91 have hydropower benefit with installed capacity of more than 60 MW.

REGION WISE STORAGE STATUS:-

NORTHERN REGION

The northern region includes States of Himachal Pradesh, Punjab and Rajasthan. There are six reservoirs under CWC monitoring having total live storage capacity of 18.01 BCM. The total live storage available in these reservoirs is 4.82 BCM which is 27% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 23% and average storage of last ten years during corresponding period was 28% of live storage capacity of these reservoirs. Thus, storage during current year is better than the corresponding period of last year but is less than the average storage of last ten years during the corresponding period.

EASTERN REGION

The Eastern region includes States of Jharkhand, Odisha, West Bengal and Tripura. There are 15 reservoirs under CWC monitoring having total live storage capacity of 18.83 BCM. The total live storage available in these reservoirs is 3.76 BCM which is 20% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 18% and average storage of last ten years during corresponding period was 16% of live storage capacity of these reservoirs. Thus, storage during current year is better than the corresponding period of last year and is also better than the average storage of last ten years during the corresponding period.

WESTERN REGION

The Western region includes States of Gujarat and Maharashtra. There are 27 reservoirs under CWC monitoring having total live storage capacity of 27.07 BCM. The total live storage available in these reservoirs is 5.95 BCM which is 22% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 11% and average storage of last ten years during corresponding period was 20% of live storage capacity of these reservoirs. Thus, storage during current year is better than the storage of last year and is also better than the average storage of last ten years during the corresponding period.

CENTRAL REGION

The Central region includes States of Uttar Pradesh, Uttarakhand, Madhya Pradesh and Chhattisgarh. There are 12 reservoirs under CWC monitoring having total live storage capacity of 42.30 BCM. The total live storage available in these reservoirs is 12.50 BCM which is 30% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 20% and average storage of last ten years during corresponding period was 15% of live storage capacity of these reservoirs. Thus, storage during current year is better than the storage of last year and is also better than the average storage of last ten years during the corresponding period.

SOUTHERN REGION

The Southern region includes States of Andhra Pradesh, Telangana, AP&TG (Two combined projects in both states) Karnataka, Kerala and Tamil Nadu. There are 31 reservoirs under CWC monitoring having total live storage capacity of 51.59 BCM. The total live storage available in these reservoirs is 3.88 BCM which is 8 % of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 11% and average storage of last ten years during corresponding period was 17% of live storage capacity of these reservoirs. Thus, storage during current year is less than the corresponding period of last year and is also less than the average storage of last ten years during the corresponding period.

States having better storage than last year for corresponding period are Himachal Pradesh, Punjab, Jharkhand, Odisha, West Bengal, Tripura, Gujarat, Maharashtra, Uttar Pradesh, Madhya Pradesh, Chhattisgarh, and Telangana. States having equal storage than last year for corresponding period are AP&TG (Two combined projects in both states). States having lesser storage than last year for corresponding period are Rajasthan, Uttarakhand, Andhra Pradesh, Karnataka, Kerala, and Tamil Nadu.

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Chandni Textiles Engineering Industries secures an order worth Rs 16 crore
Jun 16,2017

Chandni Textiles Engineering Industries has bagged an order for supply of 13 injection moulding machines worth Rs 16 crore.

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Aban Offshore leads gainers on BSEs A group
Jun 16,2017

Aban Offshore rose 12.96% at Rs 196.50. The stock topped the gainers in A group. On the BSE, 14.88 lakh shares were traded on the counter so far as against the average daily volumes of 1.42 lakh shares in the past two weeks.

Firstsource Solutions rose 5.56% at Rs 32.25. The stock was the second biggest gainer in A group. On the BSE, 5.04 lakh shares were traded on the counter so far as against the average daily volumes of 4.16 lakh shares in the past two weeks.

VA Tech Wabag rose 5.46% at Rs 727. The stock was the third biggest gainer in A group. On the BSE, 54,000 shares were traded on the counter so far as against the average daily volumes of 7,798 shares in the past two weeks.

GVK Power & Infrastructure rose 5% at Rs 6.30. The stock was the fourth biggest gainer in A group. On the BSE, 12.15 lakh shares were traded on the counter so far as against the average daily volumes of 11 lakh shares in the past two weeks.

Gujarat Mineral Development Corporation (GMDC) rose 4.97% at Rs 153. The stock was the fifth biggest gainer in A group. On the BSE, 1 lakh shares were traded on the counter so far as against the average daily volumes of 1.69 lakh shares in the past two weeks.

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Indias spice exports rise 12% to record all-time high in value and volume in 2016-17
Jun 16,2017

Meeting stringent food safety regulations imposed by countries across the globe, Indian spices and spice products surged to a record export growth worth Rs.17664.61 crore (US$ 2633.30 million) and a volume of 9,47,790 tonnes in 2016-17, sustaining their robust demand in international markets in face of stiff competition.

The buoyancy in exports of spices and related products, both in terms of value and volume, compares favourably with figures of 8,43,255 tonnes valued at Rs.16238.23 crore (US$ 2482.83 million) in 2015-16, thereby registering an increase of 12 per cent in volume, nine per cent in rupee terms and six per cent in dollar terms.

Chilli continued to be the most demanded spice in FY 2016-17 with exports of 4,00,250 tonnes amounting to Rs 5,070.75 crores, registering an increase of 15 per cent in volume and 27 per cent in value.

Cumin was the second-most exported spice, recording an increase of 22 per cent in volume and 28 per cent in value. A total volume of 1,19,000 tonnes of cumin valued at Rs.1963.20 crore was exported from India in 2016-17. The increase was largely due to the mandatory checks on cumin and its byproducts implemented by the Spices Board in the backdrop of rapid alerts from importing countries.

n++India has surpassed all previous export records and has fulfilled the increasing international demand for its quality spices in the face of tough competition in global markets. More satisfying was the fact that the appreciable increase in exports came in the face of strict food safety regulations that now define and determine the international commodity trade,n++ said Spices Board Chairman Dr A. Jayathilak.

Increased global demand for turmeric, especially in the pharmaceutical sector, drove its exports to attain figures of 1,16,500 tonnes in volume and crossed Rs 1,241 crores in value terms in 2016-17.

The spice which showed the maximum increase as compared to the previous financial year was fennel, registering a 129 per cent increase in volume and 79 per cent in value.

Garlic exports contributed substantially to the overall growth during the year, notching figures of 92 per cent in value terms and 39 per cent in quantity.

The export demand of nutmeg and mace was also on a higher side, registering an increase of 25 per cent to 5,070 tonnes, as compared to 4,050 tonnes during 2015-16.

The export of celery rose from 5,310 tonnes valued at Rs.53.28 crore in 2015-16 to 6,250 tonnes worth Rs. 62.46 crore in 2016-17.

Dr Jayathilak said the efforts of Spices Board to promote production of large cardamom, especially in the countrys North Eastern region which is the organic area by default, led to a rise in its exports by 30 per cent in volume and nine per cent in value.

A shift in dietary preferences from conventional spices to processed and value-added spices was evident in the spice export statistics, which exhibited an increase both in volume and value as compared to 2015-16, contributing substantially to the spices export basket in 2016-17.

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United Bank of India reduces six month MCLR to 8.55%
Jun 16,2017

United Bank of India has revised MCLR rate with immediate effect as under -

MCLR 6 months - 8.55%

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Motherson Sumi Systems provides ratings update for subsidiary
Jun 16,2017

Motherson Sumi Systems announced that Standard & Poors Global Ratings (S&P) has revised its outlook on Samvardhana Motherson Automotive Systems Group B.V., Netherlands, a subsidiary of Motherson Sumi Systems Limited (the Company) to positive from stable on improved financial metrics while affirming BB+ long-term corporate credit rating on Samvardhana Motherson Automotive Systems Group B.V.

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