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Telecom shares in demand
Feb 23,2017

Bharti Airtel (up 7.43%), Idea Cellular (up 6.36%), Tata Teleservices (Maharashtra) (up 4.67%), Reliance Communications (up 3.64%) and MTNL (up 3.61%), edged higher.

Telecom tower infrastructure provider Bharti Infratel was down 0.18%.

Meanwhile, the S&P BSE Sensex was up 59.99 points, or 0.21% at 28,924.70.

Bharti Airtel, Indias largest telecommunications services provider, announced that it has entered into a definitive agreement with Telenor South Asia Investments (Telenor) to acquire Telenor (India) Communications (Telenor India). The acquisition is subject to requisite regulatory approvals. As part of the agreement, Airtel will acquire Telenor Indias running operations in seven circles - Andhra Pradesh, Bihar, Maharashtra, Gujarat, UP (East), UP (West) and Assam. These circles represent a high population concentration and therefore offer a high potential for growth. The announcement was made before trading hours today, 23 February 2017.

The entry of Reliance Jio with its free services has had significant impact on the existing telecom operators.

Reliance Industries (RIL) announced at the fag end of market hours on Tuesday, 21 February 2017, that its subsidiary Reliance Jio Infocomm (RJIL) breached the 100 million customer mark in 170 days. Jio announced that in addition to its own market leading tariff plans, it will also offer its customers the option to choose the highest selling tariff plan of any of the other leading Indian telecom operators, but with 20% more data than what any other operator provides. As a token of its gratitude, the existing 100 million plus Jio subscribers can avail of the special Jio Prime Membership programme which comes with several special benefits. First, Jio Prime Members will be able to enjoy the unlimited benefits of the existing Jio Happy New Offer for another full year or till 31 March 2018 for a nominal, one-time enrolment fee of just Rs 99 and a rock-bottom introductory price of only Rs 303 per month or effectively at just Rs 10 per day.

The telecom sector has been abuzz with news of massive mergers to fight Reliance Jios might. As per recent media reports, Tata Teleservices is mulling to join the planned Reliance Communications (RCom)-Aircel-MTS merger, while Idea Cellular is reportedly planning a merger with Vodafone India.

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Bharti Airtel spurts on Telenor India acquisition
Feb 23,2017

The announcement was made before trading hours today, 23 February 2017.

Meanwhile, the BSE Sensex was up 66.96 points, or 0.23%, to 28,931.67.

On the BSE, so far 5.69 lakh shares were traded in the counter, compared with average daily volumes of 1.81 lakh shares in the past one quarter. The stock had hit a high of Rs 400.65 and a low of Rs 369.05 so far during the day.

The stock hit a 52-week high of Rs 384.90 on 28 April 2016. The stock hit a 52-week low of Rs 283.95 on 9 November 2016.

The large-cap company has equity capital of Rs 1,998.70 crore. Face value per share is Rs 5.

Bharti Airtel, Indias largest telecommunications services provider, announced that it has entered into a definitive agreement with Telenor South Asia Investments (Telenor) to acquire Telenor (India) Communications (Telenor India). The acquisition is subject to requisite regulatory approvals. As part of the agreement, Airtel will acquire Telenor Indias running operations in seven circles - Andhra Pradesh, Bihar, Maharashtra, Gujarat, UP (East), UP (West) and Assam. These circles represent a high population concentration and therefore offer a high potential for growth.

The proposed acquisition will include transfer of all of Telenor Indias assets and customers, further augmenting Airtels overall customer base and network. It will also enable Airtel to further bolster its strong spectrum foot-print in these seven circles, with the addition of 43.4 MHz spectrum in the 1800 MHz band. Airtel will ensure quality services to Telenor Indias customers, while offering them the added benefits of its innovative product portfolio, access to superior voice & data services, mobile banking, VAS and domestic! international roaming facilities. Telenor Indias operations and services will continue as normal until the completion of the transaction, the company said in a statement.

Meanwhile, Bharti Airtel announced that it has through its subsidiary Bharti Airtel Services, acquired a strategic stake in Seynse Technologies, a financial technology company for undisclosed sum. The announcement was made during market hours yesterday, 22 February 2017. The investment was completed by the company. Turnover of Seynse as on 31 March 2016 was Rs 6.53 lakh and had 41 employees. Seynse has created the popular digital leading platform Loan Singh, which enables easy loans for credit worthy yet under served borrowers. Seynse has built a proprietary credit engine and advanced machine learning capacity to serve customers.

Bharti Airtels consolidated net profit fell 54.54% to Rs 503.70 crore on 3.03% decline in net sales to Rs 23335.70 crore in Q3 December 2016 over Q3 December 2015.

Bharti Airtel is a leading global telecommunications company with operations in 17 countries across Asia and Africa.

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APM Industries tumbles on profit booking
Feb 22,2017

Meanwhile, the BSE Sensex was up 104.38 points, or 0.36%, to 28,865.97.

On the BSE, so far 2.44 lakh shares were traded in the counter, compared with average daily volumes of 22,500 shares in the past one quarter. The stock had hit a high of Rs 70.20 and a low of Rs 61 so far during the day.

The stock hit a record high of Rs 76.85 on 10 November 2016. The stock hit a 52-week low of Rs 48.50 on 29 February 2016. The stock had outperformed the market over the past 30 days till 21 February 2017, rising 7.17% compared with the 6.06% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 9.65% as against Sensexs 10.40% rise.

The small-cap company has equity capital of Rs 4.32 crore. Face value per share is Rs 2.

Shares of APM Industries rose 28.26% in two trading sessions to settle at Rs 68.75 yesterday, 21 February 2017, from its close of Rs 53.60 on 17 February 2017.

APM Industries announced during trading hours yesterday, 21 February 2017, that the Reserve Bank of lndia (RBI) granted a non-banking finance company (NBFC) license to the companys wholly-owned subsidiary, APM Finvest. Shares of APM Industries rose 9.04% to Rs 68.75 yesterday, 21 February 2017.

The board of directors of the company had in their meeting held on 29 January 2016 decided to enter into the business of finance, lending and investment business through a wholly owned subsidiary and hence the company incorporated APM Finvest and applied for the NBFC license.

APM Industries net profit fell 67.5% to Rs 1.78 crore on 29% decline in net sales to Rs 51.78 crore in Q3 December 2016 over Q3 December 2015.

APM Industries is engaged in the manufacture of synthetic blended (polyester, viscose and acrylic) yarn.

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Dr Reddys drops as Miryalaguda facility gets 3 USFDA observations
Feb 22,2017

The announcement was made after market hours yesterday, 21 February 2017.

Meanwhile, the S&P BSE Sensex was up 94.73 points or 0.33% at 28,856.32.

On the BSE, 28,000 shares were traded on the counter so far as against the average daily volumes of 30,694 shares in the past one quarter. The stock had hit a high of Rs 2,925 and a low of Rs 2,893.10 so far during the day.

The stock had hit a 52-week high of Rs 3,689 on 20 July 2016 and a 52-week low of Rs 2,803.50 on 16 February 2017. The stock had underperformed the market over the past one month till 21 February 2017, sliding 1.61% compared with the Sensexs 6.39% rise. The scrip had also underperformed the market over the past one quarter, declining 7.52% as against the Sensexs 11.63% rise.

The large-cap company has equity capital of Rs 82.87 crore. Face value per share is Rs 5.

Dr Reddys Laboratories (DRL) announced that the audit of the companys active pharmaceutical ingredients (API) manufacturing plant at Miryalaguda, by the United States Food and Drug Administration (USFDA) has been completed on 21 February 2017. DRL has been issued a Form 483 with three observations, which the company is addressing, it said.

Dr Reddys Laboratories consolidated net profit fell 15.9% to Rs 492.30 crore on 6.6% fall in net sales to Rs 3706.50 crore in Q3 December 2016 over Q3 December 2015.

Dr Reddys Laboratories is an integrated global pharmaceutical company.

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Minda gains after signing JV pact with Japanese firm
Feb 22,2017

The announcement was made during market hours today, 22 February 2017.

Meanwhile, the S&P BSE Sensex was up 120.25 points or 0.42% at 28,881.84.

On the BSE, 39,000 shares were traded on the counter so far as against the average daily volumes of 50,837 shares in the past one quarter. The stock had hit a high of Rs 399 and a low of Rs 381.10 so far during the day.

The stock had hit a record high of Rs 405.35 on 1 November 2016 and a 52-week low of Rs 148.30 on 24 February 2016. The stock had outperformed the market over the past one month till 21 February 2017, advancing 10.13% compared with the Sensexs 6.39% rise. The scrip had also outperformed the market over the past one quarter, gaining 39.72% as against the Sensexs 11.63% rise.

The mid-cap company has equity capital of Rs 15.87 crore. Face value per share is Rs 2.

Minda Industries said it has signed the joint venture (JV) agreement with Katolec Corporation, Japan to manufacture the products including high end electronics like printed circuit boards (PCB) and box build assemblies. The JV company is proposed to be set in Pune, Maharashtra.

The shareholding in the JV company will be in the ratio of 51:49 i.e. 51% will be subscribed by Minda and 49% shareholding by Katolec Corporation, Japan.

Minda Industries consolidated net profit rose 55.1% to Rs 44.74 crore on 40.6% growth in net sales to Rs 875.82 crore in Q3 December 2016 over Q3 December 2015.

Minda Industries is part of UNO Minda. UNO Minda is a technology leader in auto components industry and a leading Tier 1 supplier of proprietary automotive solutions to original equipment manufacturers (OEMs).

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Recent rally in Titan halts on profit booking
Feb 22,2017

Meanwhile, the S&P BSE Sensex was up 105.36 points or 0.37% at 28,866.95.

On the BSE, 1.20 lakh shares were traded on the counter so far as against the average daily volumes of 2.81 lakh shares in the past one quarter. The stock had hit a high of Rs 457.50 and a low of Rs 439.25 so far during the day.

The stock had hit a record high of Rs 459 on 21 February 2017 and a 52-week low of Rs 296.30 on 21 November 2016. The stock had outperformed the market over the past one month till 21 February 2017, advancing 26.77% compared with the Sensexs 6.39% rise. The scrip had also outperformed the market over the past one quarter, gaining 50.36% as against the Sensexs 11.63% rise.

The large-cap company has equity capital of Rs 88.78 crore. Face value per share is Rs 1.

Shares of Titan Company had surged 10.87% in four trading sessions to settle at Rs 457.25 yesterday, 21 February 2017, from its close of Rs 412.40 on 15 February 2017.

Titan Companys net profit rose 13.1% to Rs 255.75 crore on 13.9% growth in net sales to Rs 3871.34 crore in Q3 December 2016 over Q3 December 2015.

Titan Companys main business lines are watches, jewellery and eyewear.

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Radico Khaitan slips on profit booking
Feb 22,2017

Meanwhile, the BSE Sensex was up 79.60 points, or 0.28%, to 28,841.19.

On the BSE, so far 78,000 shares were traded in the counter, compared with average daily volumes of 1.11 lakh shares in the past one quarter. The stock had hit a high of Rs 138 and a low of Rs 132.55 so far during the day.

The stock hit a 52-week high of Rs 151 on 1 November 2016. The stock hit a 52-week low of Rs 84 on 24 May 2016. The stock had outperformed the market over the past 30 days till 21 February 2017, rising 16.82% compared with the 6.06% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 13.28% as against Sensexs 10.40% rise.

The small-cap company has equity capital of Rs 26.61 crore. Face value per share is Rs 2.

Shares of Radico Khaitan rose 5.87% in two trading sessions to settle at Rs 136.10 yesterday, 21 February 2017, from its close of Rs 128.55 on 17 February 2017.

The stock rallied yesterday, 21 February 2017, after media reports suggested that Bacardi India was in preliminary talks to buy stake in the company. Radico Khaitan, however, clarified to the bourses during trading hours yesterday, 21 February 2017, that the news item was factually incorrect and the company was not aware of any information that had not been announced to the stock exchanges, which could explain the movement in the trading of the companys shares. The stock pared intraday gains and ended higher by 1.68% at Rs 136.10 yesterday, 21 February 2017.

Net profit of Radico Khaitan declined 22.35% to Rs 19.70 crore on 3.40% rise in net sales to Rs 405.89 crore in Q3 December 2016 over Q3 December 2015.

Radico Khaitan is one of the largest players in the Indian spirits industry. Radico Khaitan operates three distilleries and one joint venture with total capacity of 150 million litres. It also has 33 bottling units spread across the country.

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Disa India gains after parent announces acquisition
Feb 22,2017

The announcement was made after market hours yesterday, 21 February 2017.

Meanwhile, the BSE Sensex was up 84.22 points, or 0.29%, to 28,845.81.

On the BSE, so far 364 shares were traded in the counter, compared with average daily volumes of 99 shares in the past one quarter. The stock had hit a high of Rs 4,900 and a low of Rs 4,800 so far during the day.

The stock hit a 52-week high of Rs 5,209 on 14 February 2017. The stock hit a 52-week low of Rs 3,555 on 30 March 2016. The stock had outperformed the market over the past 30 days till 21 February 2017, rising 10.23% compared with the 6.06% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 15.48% as against Sensexs 10.40% rise.

The small-cap company has equity capital of Rs 1.45 crore. Face value per share is Rs 10.

Disa India announced that its parent company that Norican Global A/S, Denmark (the ultimate holding company of Disa india) has entered into an agreement with Auctus Fund lll GmbH & Co. KG to purchase 100% of Auctuss shares in Light Metal Casting Solutions Group (LMCS). LMCS is a group of leading capital equipment manufacturers and service providers for the light metal casting industry, processing aluminium, magnesium and zinc alloys with major operations in Germany, Italy, Poland, China and the US.

Net profit of Disa India rose 52.6% to Rs 10.68 crore on 56.3% rise in net sales to Rs 81.73 crore in Q3 December 2016 over Q3 December 2015.

Disa India develops and manufactures a complete range of metal casting production solutions for the ferrous and non-ferrous foundry industries.

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Reliance Industries leads gainers in A group
Feb 22,2017

Reliance Industries jumped 9.58% to Rs 1,192.50 at 13:45 IST after the company said that Reliance Jio Infocomm has breached the 100 million customer mark in 170 days. The stock topped the gainers in the BSEs A group. On the BSE, 24.85 lakh shares were traded on the counter so far as against the average daily volumes of 2.18 lakh shares in the past two weeks.

Godrej Properties surged 4.2% at Rs 370.60. The stock was second biggest gainer in A group. On the BSE, 64,000 shares were traded on the counter so far as against the average daily volumes of 15,000 shares in the past two weeks.

Rajesh Exports advanced 3.59% to Rs 518.25. The stock was third biggest gainer in A group. On the BSE, 1.38 lakh shares were traded on the counter so far as against the average daily volumes of 49,000 shares in the past two weeks.

Jammu & Kashmir Bank gained 3.53% at Rs 74.75. The stock was fourth biggest gainer in A group. On the BSE, 2.23 lakh shares were traded on the counter so far as against the average daily volumes of 1.04 lakh shares in the past two weeks.

Axis Bank rose 3.46% to Rs 522.05. The stock was fifth biggest gainer in A group. On the BSE, 8.57 lakh shares were traded on the counter so far as against the average daily volumes of 4.96 lakh shares in the past two weeks.

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DCW jumps after lifting lock-out at Tamil Nadu factory
Feb 22,2017

The announcement was made during market hours today, 22 February 2017.

Meanwhile, the S&P BSE Sensex was up 144.66 points or 0.5% at 28,906.25.

On the BSE, 5.11 lakh shares were traded on the counter so far as against the average daily volumes of 3.10 lakh shares in the past one quarter. The stock had hit a high of Rs 33.60 and a low of Rs 30.90 so far during the day.

The stock had hit a 52-week high of Rs 40 on 21 October 2016 and a 52-week low of Rs 19.20 on 29 February 2016. The stock had underperformed the market over the past one month till 21 February 2017, sliding 13.49% compared with the Sensexs 6.39% rise. The scrip had, however, outperformed the market over the past one quarter, advancing 16.04% as against the Sensexs 11.63% rise.

The small-cap company has equity capital of Rs 44.20 crore. Face value per share is Rs 2.

DCWs management has reached settlement with the workers union of the companys factory at Sahupuram, Tamil Nadu and lock out has been withdrawn today, 22 February 2017. The manufacturing operations also commence today, 22 February 2017, it said.

DCWs net profit spurted 5555.6% to Rs 5.09 crore on 9% growth in net sales to Rs 299.45 crore in Q3 December 2016 over Q3 December 2015.

DCW is an industry pioneer with a strong presence in the chlor-alkali, synthetic rutile and PVC business segments.

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Volumes jump at Reliance Industrial Infrastructure counter
Feb 22,2017

Reliance Industrial Infrastructure clocked volume of 10.03 lakh shares by 12:25 IST on BSE, a 20.85-times surge over two-week average daily volume of 48,000 shares. The stock rose 14.83% to Rs 464.50.

Hindustan Unilever notched up volume of 15.93 lakh shares, a 18.41-fold surge over two-week average daily volume of 87,000 shares. The stock fell 0.57% to Rs 857.90.

Reliance Industries saw volume of 20.23 lakh shares, a 9.27-fold surge over two-week average daily volume of 2.18 lakh shares. The stock rose 9.82% to Rs 1,195.10.

ITD Cementation India clocked volume of 5.40 lakh shares, a 8.24-fold surge over two-week average daily volume of 65,000 shares. The stock fell 5.75% to Rs 151.55.

HOV Services saw volume of 7.55 lakh shares, a 6.20-fold rise over two-week average daily volume of 1.22 lakh shares. The stock rose 12.01% to Rs 194.

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Asian Granito India gains on plans to increase quartz stone making capacity
Feb 22,2017

The announcement was made during market hours today, 22 February 2017.

Meanwhile, the S&P BSE Sensex was up 121.18 points, or 0.42%, to 28,883.10.

High volumes were witnessed on the counter. On the BSE, 1.36 lakh shares were traded on the counter so far as against the average daily volumes of 51,370 shares in the past one quarter. The stock had hit a high of Rs 290.40 and a low of Rs 281.90 so far during the day.

The stock had hit a record high of Rs 304 on 28 September 2016 and a 52-week low of Rs 123 on 29 February 2016. The stock had outperformed the market over the past one month till 21 February 2017, advancing 11.74% compared with the Sensexs 6.39% rise. The scrip had also outperformed the market over the past one quarter advancing 57.64% as against the Sensexs 11.63% rise.

The small-cap company has equity capital of Rs 30.09 crore. Face value per share is Rs 10.

Asian Granito lndia (AGIL) said that it is investing Rs 20 crore in setting up a third line of quartz stone at its Himmatnagar plant dedicated for exports. Post expansion, it will be doubling the capacity of its quartz stone to 5.28 lakh square meter per annum in financial year ending 31 March 2018 (FY 2018) from existing 2.64 lakh square meter.

The company expects exclusive export turnover of Rs 60 crore in the first year of operation from the new facility. The current orders in hand for new quartz plant is Rs 6 crore. Quartz as a segment contributes Rs 45 crore sales currently which company expects to increase to Rs 125 crore over the next 2-3 years.

The new expansion is likely to fetch additional sales of Rs 60 crore in FY 2018. Target market for the new quartzplant will be counter tops and interiors (floor) in kitchen, malls, airports, high end hotels and other places. Replacement of counter top is the largest market for engineered quartz in US, company said.

AGILs current capacity of quartz stone stands at 800 square meter per day from its existing two lines which it plans to double to 1,600 square meter per day. It is also launching 20 mm & 30 mm thickness slabs of quartz in the large format of 10.5 feetX5.25 feet. Commercial production of the new range will start in the month of April 2017.

Mr. Mukesh Patel, Managing Director, Asian Granito lndia, said, post expansion, revenue contribution from quartz segment is expected to double from 4.3% to 9% of the total sales and it is also targeting to increase share in export quartz market for 2017-18.

Quartz is a premium product and hence it also expects to earn a healthy earnings before interest, tax, depreciation and amortization (EBITDA) margin in the range of 30-32% from the expanded facility, he added.

Asian Granito Indias consolidated net profit rose 33.4% to Rs 9.34 crore on 4.3% increase in net sales to Rs 245.67 crore in Q3 December 2016 over Q3 December 2015.

Asian Granito India is one of the largest ceramic companies in India. The company manufactures and markets interior & infrastructure products like vitrified wall & floor tiles, porcelain, natural marble composite and quartz.

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Infosys declines amid ongoing tussle over whistle-blowers complaint in Panaya acquisition
Feb 22,2017

Meanwhile, the S&P BSE Sensex was up 137.47 points or 0.48% at 28,899.06.

On the BSE, 78,000 shares were traded on the counter so far as against the average daily volumes of 2.87 lakh shares in the past one quarter. The stock had hit a high of Rs 1,015 and a low of Rs 994.50 so far during the day.

The stock had hit a record high of Rs 1,278 on 3 June 2016 and a 52-week low of Rs 900.30 on 9 November 2016. The stock had outperformed the market over the past one month till 21 February 2017, advancing 6.76% compared with the Sensexs 6.39% rise. The scrip had, however, underperformed the market over the past one quarter, gaining 11.17% as against the Sensexs 11.63% rise.

The large-cap company has equity capital of Rs 1148.47 crore. Face value per share is Rs 5.

Infosys issued clarification during market hours today, 22 February 2017 on the status of the whistle blower complaints received by the company as reported in certain sections of the media. This whistle blowers complaint has been placed before the audit committee as is the normal practice, in accordance with the companys Whistle Blower Policy, and the audit committee is taking steps to initiate an investigation into the allegations made, Infosys said.

In a press release issued on its website on 20 February 2017, Infosys strongly refuted and denied the allegations made in the anonymous whistleblower letter that has been featured in certain sections of the media. The assertions made in the letter are libelous and are aimed at tarnishing the image of Infosys and its management, the company said.

The letter alleges that Infosys acquired Panaya at a 25% margin to the valuation of Series E investor that came in on 8 January 2015. Series E investor was a minority shareholder (less than 15%) and was towards preferred stock, whereas Infosys acquisition in Panaya is for 100% stake, the company said.

Infosys stated that no member of the Infosys management team was involved in any prior investments in Panaya, and insinuations that anyone from the management team at Infosys benefitted from this acquisition are misleading and slanderous.

Regardless of the malicious intent of this anonymous letter, the company will pursue its normal course of action and investigate the charges made, it said.

In the case of Panaya, all the requisite steps were followed, Infosys said. The valuation was done by Deutsche Bank, the financial and tax due diligence was done by one of the Big four firms and legal diligence was done by a leading law firm - Kirkland & Ellis, it said. The management presented the rationale behind the acquisition - including synergies and business potential to the Board, along with necessary reports and findings. The Board deliberated the acquisition, and unanimously approved the investment which was well within the valuation range determined by the evaluator, Infosys said.

The last investment (series E investment in 8 January 2015) in Panaya was not a strategic investment whereas Infosys investment in Panaya was a strategic investment and it had significant synergies in acquiring a controlling stake in Panaya, Infosys said. The valuation of investment in preferred stock vs. 100% strategic acquisition cannot and should not be compared, it added. In addition, there is a premium for acquiring a controlling stake, the company said.

Infosys said that the allegation that the $20 million invested in Panaya before the acquisition was taken out and distributed to the shareholders is also untrue.

Panaya was looked at as an acquisition candidate based on its strategic fit, Infosys said. There is absolutely no conflict of interest due to Dr. Sikkas past professional association with Dr. Plattner, it added.

It may be noted that Infosys is the cynosure of investors over the past few days amid ongoing corporate governance dispute between founders and board members of the IT bellwether over various issues ranging from pay package of its CEO Vishal Sikka to that of 30-month severance pay being given to former chief financial officer Rajiv Bansal, which was raised by the companys founder-promoter N R Narayana Murthy along with some of the other founder promoters of the company.

On a consolidated basis, Infosys net profit rose 2.82% to Rs 3708 crore on 0.21% decline in net sales to Rs 17273 crore in Q3 December 2016 over Q2 September 2016.

Infosys is one of the leading information technology outsourcing services providers. The company provides business consulting, information technology and outsourcing services.

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Ramco Systems jumps after winning order
Feb 22,2017

The announcement was made during trading hours today, 22 February 2017.

Meanwhile, the BSE Sensex was up 129.01 points, or 0.45%, to 28,890.60.

On the BSE, so far 24,000 shares were traded in the counter, compared with average daily volumes of 56,025 shares in the past one quarter. The stock hit a high of Rs 375 and a low of Rs 357.10 so far during the day.

The stock hit a 52-week high of Rs 814 on 3 May 2016. The stock hit a 52-week low of Rs 286 on 14 December 2016. The stock had underperformed the market over the past 30 days till 21 February 2017, falling 3.86% compared with the 6.06% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 12.03% as against Sensexs 10.40% rise.

The small-cap company has equity capital of Rs 30.35 crore. Face value per share is Rs 10.

Ramco Systems said it has secured a multi-million dollar cloud deal (about $2.5 million) from Allegis Group Australia for Ramco ERP for Services Resource Planning (SRP), Human Capital Management (HCM) & Payroll to be implemented across eight countries including India, Singapore, Malaysia, China, Hong Kong, Japan, Australia and New Zealand covering 7000+ employees & contractors. Allegis Group is the global leader in talent solutions, and the largest privately-held staffing company in the world, the company said in a statement.

Ramco Systems announced during market hours yesterday, 21 February 2017, that the United States largest independently owned and operated, membership-supported air medical service, Air Evac EMS, Inc., announced the successful implementation of Ramco Systems aviation software, Ramco Aviation V5.7, for its maintenance and engineering operations across 135 air bases. Air Evac is a subsidiary of Air Medical Group Holdings, the worIds largest independent provider of air medical services and a Ramco Aviation customer. Shares of Ramco Systems rose 4.39% to end at Rs 357.65 yesterday, 21 February 2017.

Ramco Systems reported consolidated net profit of Rs 3.02 crore in Q3 December 2016, compared with net loss of Rs 1.17 crore in Q2 September 2016. Net sales declined 0.3% to Rs 112.82 crore in Q3 December 2016 over Q2 September 2016.

Ramco is a fast growing enterprise software player disrupting the market with its multi-tenanted cloud and mobilen++based enterprise software in the area of HCM and Global Payroll, ERP and M&E MRO for aviation.

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JSPL slides on profit booking
Feb 22,2017

Meanwhile, the BSE Sensex was up 124.66 points, or 0.43%, to 28,886.25.

On the BSE, so far 17.59 lakh shares were traded in the counter, compared with average daily volumes of 16.41 lakh shares in the past one quarter. The stock hit a high of Rs 110.30 so far during the day, which is also a 52-week high for the counter. The stock hit a low of Rs 103.25 so far during the day.

The stock hit a 52-week low of Rs 51.80 on 29 February 2016. The stock had outperformed the market over the past 30 days till 21 February 2017, rising 38.63% compared with the 6.06% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 63.24% as against Sensexs 10.40% rise.

The large-cap company has equity capital of Rs 91.50 crore. Face value per share is Re 1.

Shares of Jindal Steel & Power (JSPL) rose 24.30% in five trading sessions to settle at Rs 109.45 yesterday, 21 February 2017, from its close of Rs 88.05 on 14 February 2017.

The recent rally in the stock was triggered by a domestic brokerage upgrading its rating on the stock to buy from sell. According to media reports on Monday, 20 February 2017, the brokerage house said JSPLs steel operations can engineer a financial turnaround over next 1-2 years by commissioning of 3.2 million tonne per annum blast furnace at Angul operations. Steady margins from improved steel markets can deliver strong earnings growth over the financial year ending March 2018-2019. It added that improvement in power earnings is contingent on better demand. Cash flows and debt serviceability can improve materially starting second half of financial year 2017-18, according to the research firm. Shares of JSPL rose 7.80% to end at Rs 100.20 on Monday, 20 February 2017.

Meanwhile, on Monday, 20 February 2017, a media report suggested that JSPL will commission the blast furnace at its greenfield Odisha plant next month, three years after a Supreme Court order striking down a linked coal mine had stalled the progress of the estimated Rs 35,000-crore project. The move is part of JSPLs strategy to sweat its existing assets and reduce debt in the next few years. The sale of noncore assets is key to raising finances that would help the company retire debt. Out of total debt of Rs 45,600 crore, JSPLs standalone debt is Rs 22,500 crore, while Jindal Power has loans of Rs 8,500 crore on its balance sheet. Additionally, JSPLs global ventures have Rs 14,200 crore to repay, report added.

Reacting to this media report, JSPL clarified to the bourses after market hours yesterday, 20 February 2017, that the company is not aware of any information that has not been announced to the stock exchanges, which could explain the movement in the trading of the companys shares.

On a consolidated basis, JSPL reported net loss of Rs 407.44 crore in Q3 December 2016 as against net loss of Rs 573.48 crore in Q3 December 2015. Net sales rose 28.15% to Rs 5296.80 crore in Q3 December 2016 over Q3 December 2015.

Jindal Steel and Power (JSPL) is one of Indias leading integrated steel manufacturers, significantly present in steel, power generation and Infrastructure segments and catering to a large part of Indias domestic energy and infrastructure requirement.

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