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HCC spurts on getting arbitral award of Rs 2000 crore from NHPC, NHAI
Dec 01,2016

The announcement was made during trading hours today, 1 December 2016.

Meanwhile, the BSE Sensex was up 9.43 points, or 0.04%, to 26,662.24.

On BSE, so far 1 crore shares were traded in the counter, compared with average daily volume of 28.67 lakh shares in the past one quarter. The stock hit a high of Rs 41 and a low of Rs 37.50 so far during the day. The stock hit a 52-week high of Rs 41.90 on 14 September 2016. The stock hit a 52-week low of Rs 16.60 on 12 February 2016. The stock had underperformed the market over the past 30 days till 30 November 2016, falling 6.30% compared with the 4.39% decline in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 4.43% as against Sensexs 6.23% decline.

The small-cap company has equity capital of Rs 77.92 crore. Face value per share is Re 1.

Hindustan Construction Company (HCC) said it has received communication from NHPC and NHAI regarding arbitral award payment. NITI Ayog has gn++ven the SOP (Standard Operating Procedures) for release of payment for timely implementation. HCC has been asked to reconcile the award amount within 7 days and thereafter open escrow account and submit bank guarantees (BGs) within 30 days for recovering the amount. This communication clears the way for HCC for receiving close to Rs 2000 crore within 4 to 6 weeks.

The communication came in the backdrop of the Government setting into motion the process to release 75% of arbitration amounts against margin free guarantee in situations where awards have been given but have been contested by the concerned authorities. The cabinet committee on economic affairs chaired by the Prime Minister in September 2016 cleared several measures proposed by the Niti Aayog to revive the construction sector such as easier norms for faster settlement of disputes between contractors and government departments, and partial deposit of funds by government agencies in form of arbitration awards.

HCC has arbitration awards for Rs 3427 crore as of 30 September 2016. Further claims worth around Rs 4173 crore are in arbitration process. About 70% of these cases were at the initial stage of arbitration process and the company has already given consent to transfer these cases under new arbitration act, which mandates decision within 12 months.

HCCs net profit declined 42.8% to Rs 23.08 crore on 8.2% decline in net sales to Rs 759.03 crore in Q2 September 2016 over Q2 September 2015.

HCC develops and builds infrastructure.

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KPIT gains after taking strategic stake in automotive firm
Dec 01,2016

The announcement was made during market hours today, 1 December 2016.

Meanwhile, the S&P BSE Sensex was up 24.04 points or 0.09% at 26,676.85.

On the BSE, 57,000 shares were traded on the counter so far as against average daily volume of 1.15 lakh shares in the past one quarter. The stock had hit a high of Rs 135.80 and a low of Rs 131.50 so far during the day. The stock had hit a 52-week high of Rs 196.60 on 21 June 2016. The stock had hit a 52-week low of Rs 108.45 on 12 February 2016. The stock had underperformed the market over the past one month till 30 November 2016, declining 7.73% compared with the Sensexs 4.57% fall. The scrip had, however, outperformed the market in past one quarter, advancing 3.33% as against the Sensexs 5.96% fall.

The small-cap company has equity capital of Rs 39.50 crore. Face value per share is Rs 2.

The fixed consideration will be euro 9.3 million. The total consideration will include additional variable consideration, which is based on achievement of certain financial parameters over the next 4 years. The strategic partner, MicroFuzzy, has over 20 plus years of proven engineering expertise on Powertrain systems and Drivetrain Electronics. This partnership gives KPIT access to around 150 plus specialized engineers.

KPIT Technologies consolidated net profit rose 2.05% to Rs 56.18 crore on 3.3% rise in net sales to Rs 829.47 crore in Q2 September 2016 over Q1 June 2016.

KPIT is a global technology company focused on providing technology solutions and expertise to automotive and transportation companies, government bodies, manufacturing, energy and utilities companies.

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MOIL gains after hiking manganese ore prices
Dec 01,2016

The announcement was made during trading hours today, 1 December 2016.

Meanwhile, the BSE Sensex was up 25.32 points, or 0.09%, to 26,678.13.

On BSE, so far 1.03 lakh shares were traded in the counter, compared with average daily volume of 84,229 shares in the past one quarter. The stock hit a high of Rs 394 so far during the day, which is also a 52-week high for the counter. The stock hit a low of Rs 379 so far during the day. The stock hit a record low of Rs 180.10 on 12 February 2016. The stock had outperformed the market over the past 30 days till 30 November 2016, rising 4.32% compared with the 4.39% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 50.51% as against Sensexs 6.23% decline.

The mid-cap company has equity capital of Rs 133.19 crore. Face value per share is Rs 10.

Prices of ferro grade ore have been hiked by 30%. Prices of SMGR grade and fines have been raised by 25% each and prices of chemical grade ore have been raised by 10%.

Price of elctrolyte manganese dioxide (EMD) has remain unchanged.

MOILs net profit declined 14.6% to Rs 41.47 crore on 32.1% rise in net sales to Rs 196.03 crore in Q2 September 2016 over Q2 September 2015.

MOIL produces and sells different grades of manganese ore. Government of India currently holds 75.58% stake in MOIL (as per the shareholding pattern as on 11 October 2016).

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Maruti Suzuki India gains after good sales in November
Dec 01,2016

The announcement was made during trading hours today, 1 December 2016.

Meanwhile, the BSE Sensex was up 35.15 points, or 0.13%, to 26,687.96.

On BSE, so far 55,000 shares were traded in the counter, compared with average daily volume of 65,570 shares in the past one quarter. The stock hit a high of Rs 5,308 and a low of Rs 5,205 so far during the day. The stock hit a record high of Rs 5,972 on 1 November 2016. The stock hit a 52-week low of Rs 3,202.10 on 29 February 2016. The stock had underperformed the market over the past 30 days till 30 November 2016, falling 10.46% compared with the 4.39% decline in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 4.06% as against Sensexs 6.23% decline.

The large-cap company has equity capital of Rs 151.04 crore. Face value per share is Rs 5.

Maruti Suzuki Indias (Maruti) domestic sales rose 14.2% to 1.26 lakh units in November 2016 over November 2015. Exports fell 9.8% to 9,225 units in November 2016 over November 2015.

Maruti Suzuki Indias net profit rose 60.2% to Rs 2398 crore on 29.5% growth in net sales to Rs 17594.60 crore in Q2 September 2016 over Q2 September 2015.

Maruti Suzuki India is Indias biggest car maker in terms of market share. Japanese parent Suzuki Motor Corporation currently holds 56.21% stake in Maruti (as per the shareholding pattern as on 30 September 2016).

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Punj Lloyd slips after reporting net loss in Q2
Dec 01,2016

The result was announced after market hours yesterday, 30 November 2016.

Meanwhile, the S&P BSE Sensex was up 7.68 points or 0.03% at 26,660.49.

On the BSE, 1.22 lakh shares were traded on the counter so far as against the average daily volumes of 7.91 lakh shares in the past one quarter. The stock had hit a high of Rs 20.50 and a low of Rs 19.80 so far during the day. The stock had hit a 52-week high of Rs 31.65 on 5 January 2016. The stock had hit a record low of Rs 16.90 on 9 November 2016. The stock had underperformed the market over the past one month till 30 November 2016, declining 10.07% compared with the Sensexs 4.57% fall. The scrip had, however, outperformed the market in past one quarter, sliding 0.96% as against the Sensexs 5.96% fall.

The small-cap company has equity capital of Rs 66.42 crore. Face value per share is Rs 2.

The companys net sales declined 1.3% to Rs 990.57 crore in Q2 September 2016 over Q2 September 2015. Earnings before interest, taxation, depreciation and amortization (EBITDA) fell 58.33% to Rs 25 crore in Q2 September 2016 over Q2 September 2015.

Atul Punj, Chairman - Punj Lloyd said, the quarter under review saw some acceleration in execution across all the companys projects. A key development during the quarter was the Cabinets decision on payment of arbitration awards by the government agencies to engineering, procurement and construction (EPC) companies. This is a significant positive for the industry and will go a long way towards reducing debt and infusing money into the business, enabling timely project execution. In line with the managements strategy of exiting non-core businesses, Punj Lloyd is under the process of exiting/divesting in some special purpose vehicles (SPVs) under Punj Lloyd Infrastructure (PLIL), a wholly owned subsidiary of the company, Atul Punj said.

Punj Lloyd is a diversified international conglomerate offering EPC services in energy and infrastructure along with engineering and manufacturing capabilities in the defence sector.

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Wipro inches up after announcing divestment of EcoEnergy division
Dec 01,2016

The announcement was made after market hours yesterday, 30 November 2016.

Meanwhile, the S&P BSE Sensex was up 58.01 points or 0.22% at 26,710.82.

On the BSE, 4,489 shares were traded on the counter so far as against the average daily volumes of 1.55 lakh shares in the past one quarter. The stock had hit a high of Rs 469.10 and a low of Rs 466 so far during the day. The stock had hit a 52-week high of Rs 606.75 on 20 April 2016. The stock had hit a 52-week low of Rs 410 on 9 November 2016. The stock had outperformed the market over the past one month till 30 November 2016, advancing 0.02% compared with the Sensexs 4.57% fall. The scrip had also outperformed the market in past one quarter, sliding 4.91% as against the Sensexs 5.96% fall.

The large-cap IT company has equity capital of Rs 486.17 crore. Face value per share is Rs 2.

The buyer is Chubb Alba Control Systems (Chubb Alba), an indirect subsidiary of United Technologies Corporation (UTC). The sale is expected to be closed in early 2017, subject to requisite approvals. Wipro EcoEnergy contributed Rs 67.64 crore (0.1%) to Wipros revenue in FY 2016.

Wipro has been sharpening focus on its core IT business. Since business carried out by the EcoEnergy division is not core and strategic to overall IT business of the company, it has been decided to divest the business.

Wipros consolidated net profit rose 0.9% to Rs 2070.40 crore on 1.45% rise in net sales to Rs 13896.80 crore in Q2 September 2016 over Q1 June 2016.

Wipro is a leading information technology, consulting and business process services company that delivers solutions to enable its clients do business better.

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Amtek Auto, Metalyst Forgings and Castex Technologies edge higher
Nov 30,2016

The announcement was made during market hours today, 30 November 2016.

Amtek Auto (up 4.61% at Rs 41.95), Metalyst Forgings (up 0.87% at Rs 69.70) and Castex Technologies (up 4.17% at Rs 10) edged higher.

Meanwhile, the S&P BSE Sensex was up 278.46 points or 1.06% at 26,672.47.

The joint board of Amtek Auto, Metalyst Forgings, ARGL and Castex Technologies approved the infusion of fresh capital by new investors and restructuring and reduction of debt subject to the approval of lenders. The joint board also approved the process of monetisation to support the restructuring and debt reduction of Amtek Auto.

Amtek Auto is one of the largest integrated component manufacturers in India with a strong global presence. It has also become one of the worlds largest global forging and integrated machining companies. The company reported net loss of Rs 319.68 crore in the quarter ended June 2016, compared with net loss of Rs 157.60 crore in the quarter ended June 2015. Net sales declined 36.8% to Rs 539.83 crore year on year in the quarter ended June 2016.

Metalyst Forgings is a castings and forgings company. The company reported net loss of Rs 65.10 crore in the quarter ended June 2016, compared with net loss of Rs 66.23 crore in the quarter ended June 2015. Net sales declined 39% to Rs 333.41 crore year on year in the quarter ended June 2016.

Castex Technologies (formerly known as Amtek India) is a leading provider of iron cast automotive components in India.The company reported net loss of Rs 178.20 crore in in the quarter ended June 2016, compared with net loss of Rs 105.58 crore in the quarter ended June 2015. Net sales declined 34.6% to Rs 426.70 crore year on year in the quarter ended June 2016.

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GVK Power turns volatile after Q2 results
Nov 30,2016

Meanwhile, the S&P BSE Sensex was up 207.82 points or 0.79% at 26,601.83.

On the BSE, 6.40 lakh shares were traded on the counter so far as against the average daily volumes of 18.29 lakh shares in the past one quarter. At the days low of Rs 5.74 so far during the day, the stock has lost 1.37%. At the days high of Rs 5.94 so far during the day, the stock has risen 2.06%. The stock had hit a 52-week high of Rs 9.44 on 12 January 2016. The stock had hit a record low of Rs 4.13 on 6 June 2016. The stock had underperformed the market over the past one month till 29 November 2016, declining 12.35% compared with the Sensexs 5.54% fall. The scrip had also underperformed the market in past one quarter, sliding 7.03% as against the Sensexs 5.41% fall.

The small-cap company has equity capital of Rs 157.92 crore. Face value per share is Rs 1.

GVK Power & Infrastructure (GVK Power) reported net loss of Rs 13.41 crore in Q2 September 2016, compared with net loss of Rs 8.09 crore in Q2 September 2015. Total income rose 8.41% to Rs 18.55 crore in Q2 September 2016 over Q2 September 2015.

GVK Power & Infrastructure is a leading Indian conglomerate with presence across energy, resources, airports, transportation, hospitality and life sciences sectors.

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Yes Bank gains after launching digital banking product
Nov 30,2016

The announcement was made during market hours today, 30 November 2016.

Meanwhile, the BSE Sensex was up 172.11 points, or 0.65%, to 26,566.12.

On the BSE, 1.48 lakh shares were so far traded in the counter, compared with average daily volume of 3.24 lakh shares in the past one quarter. The stock had hit a high of Rs 1,166.10 and a low of Rs 1,145.60 so far during the day. The stock had hit a record high of Rs 1,450 on 7 September 2016. The stock had hit a 52-week low of Rs 632.25 on 20 January 2016. The stock had underperformed the market over the past one month till 29 November 2016, falling 10.04% compared with 5.54% fall in the Sensex. The scrip had also underperformed the market in past one quarter, falling 14.44% as against Sensexs 5.41% decline.

The large-cap private sector bank has equity capital of Rs 422.75 crore. Face value per share is Rs 10.

Yes Bank announced the launch of SIMsePAY, a unique innovation that allows any account holder to do money transfers, pay utility bills and other mobile banking services, without the need for smart phones or internet.

The offering is based on a frugal sim-sleeve technology in association with Taisys Technologies, who holds global patent for the same and has implemented the same successfully in other countries including Kenya and China. The solution will cater to the large section of Indian population who remain unbanked or under banked due to lack of access to smart phones and mobile internet. This represents a large inherent market need, and hence a large scope for the solution.

The bank plans to garner a base of 5 lakh SIMsePAY by 2017. The bank has launched the services with the District Co-operative Bank, Dehradun and subsequently plans to launch it across the country.

The product will be offered in a phased manner. The first phase will involve collaboration with co-operative and regional rural banks. The second phase will involve direct outreach to the target segment through Yes Banks banking correspondent network.

Yes Bank reported 31.31% rise in net profit to Rs 801.54 crore on 24.7% rise in total income to Rs 4982.23 crore in Q2 September 2016 over Q2 September 2015.

Yes Bank is one of the leading private sector banks in India.

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Bharat Financial extends Tuesdays rally
Nov 30,2016

Meanwhile, the S&P BSE Sensex was up 126.78 points or 0.48% at 26,520.79.

On the BSE, 2.13 lakh shares were traded on the counter so far as against the average daily volumes of 2.19 lakh shares in the past one quarter. The stock had hit a high of Rs 754.60 and a low of Rs 735.45 so far during the day. The stock had hit a 52-week high of Rs 938.75 on 29 July 2016. The stock had hit a 52-week low of Rs 434.85 on 9 December 2015. The stock had underperformed the market over the past one month till 29 November 2016, declining 16.88% compared with the Sensexs 5.54% fall. The scrip had also underperformed the market in past one quarter, sliding 7.31% as against the Sensexs 5.41% fall.

The large-cap company has equity capital of Rs 137.91 crore. Face value per share is Rs 10.

A foreign brokerage has recently maintained overweight rating on Bharat Financial Inclusion (BFIL) stock for a target price of Rs 1,125, citing the companys strong collection progress. The brokerage reportedly said that BFIL has collected 89% of its overall dues over the period from 11 November to 25 November 2016. In the wake of brokerage reports, BFIL stock had surged 7.86% to settle at Rs 734 yesterday, 29 November 2016.

Meanwhile, the company in its presentation issued to the stock exchanges before market hours yesterday, 29 November 2016, said, it is recording a collection efficiency of 97% with a 2-week lag in the wake of the governments recent demonetisation move. The company said that most of its customers cater to non-discretionary spending.

Bharat Financial Inclusions net profit rose 87.4% to Rs 145.88 crore on 38.6% increase in total income to Rs 449.60 crore in Q2 September 2016 over Q2 September 2015.

Bharat Financial Inclusion is among the largest microfinance companies in India.

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Welspun Corp leads gainers in A group
Nov 30,2016

Welspun Corp jumped 16.29% to Rs 82.80 at 13:12 IST. The stock topped the gainers in the BSEs A group. On the BSE, 22.64 lakh shares were traded on the counter so far as against the average daily volumes of 1.22 lakh shares in the past two weeks.

Jubilant Life Sciences galloped 7.66% at Rs 709.55. The stock was second biggest gainer in A group. On the BSE, 2.54 lakh shares were traded on the counter so far as against the average daily volumes of 81,000 shares in the past two weeks.

Balkrishna Industries spurted 7.93% to Rs 994.40. The stock was third biggest gainer in A group. On the BSE, 26,000 shares were traded on the counter so far as against the average daily volumes of 4,190 shares in the past two weeks.

JK Lakshmi Cement gained 5.32% at Rs 395.80. The stock was fourth biggest gainer in A group. On the BSE, 6,114 shares were traded on the counter so far as against the average daily volumes of 25,000 shares in the past two weeks.

Crompton Greaves rose 4.54% to Rs 77.20. The stock was fifth biggest gainer in A group. On the BSE, 2.27 lakh shares were traded on the counter so far as against the average daily volumes of 3.07 lakh shares in the past two weeks.

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Max Ventures jumps in the wake of shareholding rejig
Nov 30,2016

Meanwhile, the S&P BSE Sensex was up 81.45 points or 0.31% at 26,475.46.

On the BSE, 96,000 shares were traded on the counter so far as against the average daily volumes of 94,006 shares in the past one quarter. The stock had hit a high of Rs 54 and a low of Rs 51.85 so far during the day. The stock had hit a record high of Rs 85.80 on 7 July 2016. The stock had hit a record low of Rs 43.30 on 21 November 2016. The stock had underperformed the market over the past one month till 29 November 2016, declining 7.06% compared with the Sensexs 5.54% fall. The scrip had also underperformed the market in past one quarter, sliding 11.03% as against the Sensexs 5.41% fall.

The small-cap company has equity capital of Rs 53.40 crore. Face value per share is Rs 10.

Xenox sold 17.78 lakh shares of Max Ventures and Industries (MVIL) to Siva Enterprises at Rs 50.50 per share in a block deal on the NSE on 29 November 2016. Xenox held 5.27% stake in MVIL end September 2016. Meanwhile, Ambika Anil Raika bought 2.70 lakh shares of the company at Rs 51.03 per share in a bulk deal on the NSE on 28 November 2016.

Max Ventures and Industries consolidated net profit fell 77.5% to Rs 0.45 crore on 10.85% growth in net sales to Rs 169.89 crore in Q2 September 2016 over Q1 June 2016.

Max Ventures and Industries, through its subsidiaries, manufactures and sells biaxial oriented polypropylene films.

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Volumes jump at Raunaq EPC International counter
Nov 30,2016

Raunaq EPC International clocked volume of 4.02 lakh shares by 12:15 IST on BSE, a 191.42-times surge over two-week average daily volume of 2,000 shares. The stock jumped 10.46% to Rs 142.

Welspun Corp notched up volume of 21.7 lakh shares, a 17.81-fold surge over two-week average daily volume of 1.22 lakh shares. The stock surged 17.7% to Rs 83.80.

IDFC Bank saw volume of 38.28 lakh shares, a 6.63-fold surge over two-week average daily volume of 5.78 lakh shares. The stock dropped 3.94% to Rs 68.25.

Jai Corp clocked volume of 9.44 lakh shares, a 5.75-fold surge over two-week average daily volume of 1.64 lakh shares. The stock surged 9.45% to Rs 70.65.

Vivimed Labs saw volume of 5.18 lakh shares, a 4.8-fold rise over two-week average daily volume of 1.08 lakh shares. The stock jumped 8.5% to Rs 100.20 after the company said its FDF manufacturing facility in Alathur, near Chennai has a favourable outcome post its United States Food and Drug Administration inspection. The announcement was made after market hours yesterday, 29 November 2016. The audit was conducted during the last week of November and concluded on 28 November 2016.

Furthermore, Vivimed obtained abbreviated new drug application (ANDA) approval for Metronidazole and same is commercialised. During November 2016, the company acquired ANDA of Zolpidem and the file transfer has successfully been completed. It is expected to be commercialised by Q4 March 2017.

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UCO Bank gains after allotting preferential shares to LIC
Nov 30,2016

The announcement was made after market hours yesterday, 29 November 2016.

Meanwhile, the S&P BSE Sensex was up 104.27 points or 0.4% at 26,498.28.

On the BSE, 63,000 shares were traded on the counter so far as against the average daily volumes of 2.22 lakh shares in the past one quarter. The stock had hit a high of Rs 34.30 and a low of Rs 33.85 so far during the day. The stock had hit a 52-week high of Rs 50.15 on 1 December 2015. The stock had hit a 52-week low of Rs 27.80 on 15 February 2016. The stock had outperformed the market over the past one month till 29 November 2016, declining 3.31% compared with the Sensexs 5.54% fall. The scrip had, however, underperformed the market in past one quarter, sliding 16.52% as against the Sensexs 5.41% fall.

The mid-cap bank has equity capital of Rs 1488.03 crore. Face value per share is Rs 10.

The shares issued to Life Insurance Corporation of India (LIC) will be under lock-in for a period of one year from the date of trading from the stock exchanges. LIC owned 11.88% stake in UCO Bank end September 2016.

UCO Bank reported net loss of Rs 384.83 crore in Q2 September 2016, compared with net profit of Rs 156.20 crore in Q2 September 2015.

The Government of India held 77.54% stake in UCO Bank end September 2016.

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Eros International advances on fund raising plans
Nov 30,2016

The announcement was made after market hours yesterday, 29 November 2016.

Meanwhile, the BSE Sensex was up 115.17 points, or 0.44%, to 26,509.66.

On the BSE, 7,267 shares were traded so far in the counter, compared with average daily volume of 43,372 shares in the past one quarter. The stock had hit a high of Rs 174.90 and a low of Rs 170.10 so far during the day. The stock had hit a 52-week high of Rs 274 on 4 December 2015. The stock had hit a 52-week low of Rs 125.90 on 29 February 2016. The stock had underperformed the market over the past one month till 29 November 2016, falling 12.25% compared with 5.54% fall in the Sensex. The scrip had also underperformed the market in past one quarter, falling 21.39% as against Sensexs 5.41% decline.

The small-cap company has equity capital of Rs 93.71 crore. Face value per share is Rs 10.

Eros International Media said that the meeting of board of directors of the company will be held on 2 December 2016, to consider and approve the proposal to raise funds through issue and offer of secured/unsecured, redeemable, non convertible debentures on public/private placement basis, in one or more tranches, upto the limit as may be decided by the board.

On a consolidated basis, net profit of Eros International Media fell 32.9% to Rs 62.99 crore on 5.2% decline in net sales to Rs 478.79 crore in Q2 September 2016 over Q2 September 2015.

Eros International Media operates in the Indian film entertainment industry. It acquires, co-produces and distributes Indian films across all available formats such as cinema, television and digital new media.

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