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Wockhardt may gain after getting EU GMP certificate for Gujarat facility
Jan 06,2017

Wockhardt said that competent authority, Berlin, Germany has since issued EU GMP Certificate confirming that companys manufacturing facility at 138, GIDC Estate, Ankaleshwar, Gujarat, complies with the principles and guidelines of Good Manufacturing Practices.

The certificate issued in this regard is valid for 3 years. The announcement was made after market hours yesterday, 5 January 2017.

Piramal Enterprises said that the companys wholly owned subsidiary, Piramal Finance (PFL) is in the business of providing financial services. In line with the companys growth plans, PFL will now be making an application to the National Housing Bank (NHB) for incorporating a housing finance company (HFC) as its subsidiary.

This has been approved by the companys board of directors at its meeting yesterday, 5 January 2017. The announcement was made after market hours yesterday, 5 January 2017.

Credit Analysis and Research (CARE) announced that the company has been operating in Maldives based on licence issued by Capital Market Development Authority (CMDA), Maldives. The current licence issued by CMDA expired on 5 January 2017.

After a review of the past operations and future prospects in Maldives, CARE has decided not to renew its licence. This has been already notified to CMDA. Hence, operations of CARE in Maldives stands closed from 6 January 2017. The announcement was made after market hours yesterday, 5 January 2017.

Indian Bank announced different benchmark marginal cost of funds based lending rate (MCLR) rates with effect from 7 January 2017. The overnight MCLR stands at 8.4%. The announcement was made after market hours yesterday, 5 January 2017.

Majesco, USA, the insurance arm and subsidiary company of Majesco announced that Majesco Rating in cloud to be implemented by New York Life to offer real-time rate display across group online application portals. The announcement was made after market hours yesterday, 5 January 2017.

New York Life implemented Majesco Rating, for their Group Membership Association Division (GMAD). New York Life Insurance Company is a mutually owned Fortune 100 company and one of the largest life insurers in the world. The Group Membership Association Division is a unit dedicated to serving the insurance needs of over 600 membership groups across North America.

TCI Industries announced that pursuant to the members approval accorded in their meeting held on 2 August 2016, the share allotment committee of the board of directors of the company at a meeting held on 5 January 2017 has issued and allotted 13,444, 0% non-convertible redeemable preference shares (NCRPS) of face value of Rs 100 each at a premium of Rs 300 each. The announcement was made after market hours yesterday, 5 January 2017.

Parag Milk Foods announced that Sales Tax Authorities had pursuant to Section 64 of Maharashtra Value Added Tax Act, 2002, conducted an inspection at the offices of the company at the registered office at Pune, at companys plant at Manchar and the corporate office at Nariman Point Mumbai, which is concluded on 5 January 2017.

The Sales Tax Authorities have conducted inspection starting financial year 2012-2013 and identified some transactions in relation to the consignment agents which were made by the company for interstate transfer of goods and the company has agreed to reclassify the transactions of goods as local sales.

The company have provided the fullest co-operation to the authorities to complete the enquiry and provided the information sought by them. The company has filed revised VAT returns and agreed to pay the additional tax liability on account of reclassification. There is no implication on the continued operations of the Company as a result of this visit. The announcement was made after market hours yesterday, 5 January 2017.

Jubilant Life Sciences announced about the issuance of commercial papers of Rs 50 crore having coupon rate of 6.79% per annum. The tenure of the instrument is 61 days. The announcement was made after market hours yesterday, 5 January 2017.

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Sun Pharma may gain after successful clinical trial of ophthalmic solution
Jan 05,2017

Sun Pharmaceutical Industries announced successful phase 3 confirmatory clinical trial results for Seciera (cyclosporine A, 0.09% ophthalmic solution), for the treatment of dry eye disease. Seciera is a patented, novel, proprietary nanomicellar formulation of cyclosporine A 0.09%.

It is a clear, preservative-free, aqueous solution. Seciera is being developed by Ocular Technologies, a company recently acquired by Sun Pharma. Following this acquisition, Sun Pharma owns exclusive, worldwide rights to Secier and is developing it to commercialize for global markets including US, Europe, and Japan, as well as several emerging markets. The announcement was made after market hours yesterday, 4 January 2017.

Canara Bank announced fixation of the marginal cost of funds based lending rate for all rupee loans and credit limits renewed. The MCLR for overnight loans was fixed at 8.2%. The rate for one month was fixed at 8.25% and for three months was fixed at 8.3%. The MCLR on 6-month loans is 8.4% and for one-year loan is 8.45%, the bank said. The announcement was made after market hours yesterday, 4 January 2017.

LT Foods said that the board of directors of the company has fixed 8 February 2017 as the record date for 10-for-1 stock split. The announcement was made after market hours yesterday, 4 January 2017.

Petron Engineering Construction said that the company has received letter of intent from Shree Cement, for civil work of plant building and silos and miscellaneous work at their Orissa grinding project at village : Chandrabali, Orissa for contract value of Rs 33 crore (approximately). The announcement was made after market hours yesterday, 4 January 2017.

Pratibha Industries announced that a meeting of the board of directors of the company shall be held on 7 January 2017, to consider and approve, the issue and allotment of shares on preferential basis to the lenders of the company, who have not subscribed the shares till 4 January 2017 under strategic debt restructuring (SDR) scheme. The announcement was made before market hours today, 5 January 2017.

Quick Heal Technologies announced that company has capitalized for incorporation of wholly owned subsidiary namely Seqrite Technologies DMCC, as a free zone company under the rules & regulations of DMCA. The announcement was made after market hours yesterday, 4 January 2017.

Dena Bank announced that a meeting of the board of directors of the bank will be held on 7 January 2017 to consider capital planning for FY 2016-17 i.e. raising of capital through equities and/or bonds. The announcement was made after market hours yesterday, 4 January 2017.

Tata Elxsi will be in focus. Irdeto, the world leader in digital platform security, announced a partnership with Tata Elxsi, a key global player in the automotive ecosystem, to provide automakers with secure in-car display systems for automobiles. The announcement was made after market hours yesterday, 4 January 2017.

Irdeto has combined its Cloakware for automotive by Irdeto security solution with Tata Elxsis design and engineering expertise to offer secure, best-in-class user interface solutions and connected cockpit solutions to automotive clients around the world.

IP Rings announced that the board of directors at a meeting held on 4 January 2017, decided rights entitlement ratio of 4:5 and offer price of Rs 88.75 per share for the proposed rights issue. The announcement was made after market hours yesterday, 4 January 2017.

Bartronics India announced that meeting of the board of directors of the company is scheduled to be held on 11 January 2017, to consider making investments and to transfer the financial inclusion (FI) division to a wholly owned subsidiary of the company subject to approvals of members along with any other business/matters as may be permitted by the Chairman. The announcement was made after market hours yesterday, 4 January 2017.

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Bharti Airtel may gain after announcing a special offer
Jan 04,2017

Bharti Airtel announced a special offer under which, it will offer free data for 12 months, worth up to Rs 9000, to customers who switch to Airtel 4G. With this, customers can now experience Indias fastest 4G network at great prices.

The 12 months offer is available to any customer with a 4G mobile handset that is currently not on the Airtel network. Any customer, including existing Airtel customers, upgrading to a new 4G handset can also avail this offer. This offer will be available to customer across India starting tomorrow and will close on 28 February 2017.

Customers will get free 3GB data every month till 31 December 2017 with select prepaid and postpaid packs under this offer. This free data benefit will be over and above the pack/plan benefits. The announcement was made after market hours yesterday, 3 January 2017.

HDFC announced that the profit on sale of investments for Q3 December 2016 was Rs 3 crore compared to Rs 57 crore in Q3 December 2015.Income from dividend for Q3 December 2016 was Rs 179 crore compared to Rs 136 crore in Q3 December 2015.

The company under the loan assignment route sold loans amounting to Rs 3355 crore in the quarter ended 31 December 2016 to HDFC Bank.Loans sold in the preceding twelve months amounted to Rs 15,201 crore.The figures are subject to limited review by the statutory auditors of the company. The announcement was made after market hours yesterday, 3 January 2017.

Indiabulls Housing Finance announced that it has reduced its home loan rate by 45 basis points to 8.65% for its customers with effect from 3 January 2017. Gagan Banga, Vice chairman and Managing Director, Indiabulls Housing Finance said home loan rates are now at their lowest in six years and tremendously improves buyers, affordability. The announcement was made after market hours yesterday, 3 January 2017.

Corporation Bank announced fixation of the marginal cost of funds based lending rate for all rupee loans and advances including renewals for various tenors with effect from 2 January 2017. The MCLR for overnight loans was fixed at 8.35%. The rate for one month was fixed at 8.35% and for three months it was fixed at 8.4%. The MCLR on 6-month loans is 8.65% and for one-year loans the rate is 8.75%, the bank said.

Hikal said that the company has concluded the process of sale of its land on which its former R&D centre was situated in Bengaluru, admeasuring 1.52 acres. The proceeds of the sale will be used towards the current operations of the company. The announcement was made after market hours yesterday, 3 January 2017.

Liberty Shoes announced that the rating in respect of various banking facilities of the company was recently reviewed by Credit Analysis & Research (CARE) and the ongoing rating has been reaffirmed. The announcement was made after market hours yesterday, 3 January 2017.

Celebrity Fashions announced that a meeting of the board of directors of the company will be held on 6 January 2017, to consider issue of equity shares on preferential basis to promoters/directors.The board will also consider issue of convertible warrants on preferential basis to promoters/directors. The announcement was made after market hours yesterday, 3 January 2017.

Max Ventures and Industries announced that a meeting of the board of directors of the company shall be held on 9 January 2017 to, consider raising of funds by way of preferential issue of securities, rights issue, debt issue or any other method. The announcement was made after market hours yesterday, 3 January 2017.

Oudh Sugar Mills announced that the Credit Analysis & Research Ltd has upgraded & assigned CARE BBB- rating to long-term bank facilities from banks so accepted by the company. The announcement was made after market hours yesterday, 3 January 2017.

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Hero MotoCorp may drop on weak sales in December
Jan 03,2017

Hero MotoCorp announced before market hours today, 3 January 2017 that sales fell 33.91% to 3.3 lakh units in December 2016 over December 2015. The companys manufacturing facilities at Gurgaon, Neemrana and Haridwar were closed from 26-31 December 2016 on account of annual maintainence.

ICICI Bank announced that it has reduced Marginal Cost of funds based Lending Rate (MCLR) by 0.7% across various maturities with effect from 3 January 2017. The announcement was made after market hours yesterday, 2 January 2017.

HDFC announced the addendum - issue of secured redeemable non-convertible debentures of Rs 1 crore each under shelf disclosure document dated 5 August 2016 aggregating to Rs 35000 crore prepared as per the provisions of SEBI (Issue and Listing of Debt Securities) Regulations, 2008. The announcement was made after market hours yesterday, 2 January 2017.

Tata Motors said its passenger and commercial vehicle total sales rose 2% to 40,944 units in December 2016 over December 2015. The companys domestic sales of Tata commercial and passenger vehicles rose 1% to 35,825 units in December 2016 over December 2015. Exports surged 12% to 5,119 units in December 2016 over December 2015. The sales figures were announced after market hours yesterday, 2 January 2017.

SML Isuzus total sales rose 16.4% to 1,021 units in December 2016 over December 2015. The sales figures were announced after market hours yesterday, 2 January 2017.

Power Grid Corporation of India announced that in terms of Government of India communication on 23 September 2016, on receipt of purchase consideration of Rs 81.21 crore, the company has transferred 3.06 crore equity shares of Rs 10 each of Power System Operation Corporation Limited (POSOCO) to Government of India. The announcement was made after market hours yesterday, 2 January 2017.

Insilco after market hours yesterday, 2 January 2017, said that the company will continue plant shut down due to high inventory and low sales volume and restart in the evening of 4 January 2017. The company had on 19 December 2016, announced shut down of its plant from 19 December 2016 to 2 January 2017.

Great Eastern Shipping Company (G E Shipping) has signed contracts to buy two Suezmax Crude Carriers of about 157,000 dwt each. The 2010 and 2011 built vessels are expected to join the companys fleet in Q4 FY 17. The companys current fleet stands at 38 vessels, comprising 24 tankers (7 crude carriers, 15 product tankers, 2 LPG carriers) and 14 dry bulk carriers (1 Capesize, 7 Kamsarmaxes, 6 Supramaxes) with an average age of 9.89 years aggregating 2.94 million dwt.

Additionally, the company has 2 Secondhand Aframaxes, 1 Secondhand Suezmax and 1 Newbuilding Kamsarmax on order. After delivery of these 6 contracted vessels, the company will have a fleet of 44 vessels. The announcement was made after market hours yesterday, 2 January 2017.

Aban Offshore announced that it has completed the sale of 59% equity shares held by Aban Offshore in Aban Green Power Private Limited and Radhapuram Wintech Private Limited - subsidiaries of Aban Offshore Limited.The company also completed the acquisition of 49% equity shares in Aban Drilling Services Private Limited. The announcement was made after market hours yesterday, 2 January 2017.

Lakshmi Vilas Bank announced that the bank has launched Pradhan Mantri Garib Kalyan Deposit Scheme, 2016 pursuant to the RBI notification dated 16 December 2016. The announcement was made after market hours yesterday, 2 January 2017.

TVS Motor Companys sales fell 8.47% to 1.84 lakh units in December 2016 over December 2015. The announcement was made after market hours yesterday, 2 January 2017.

Zicom Electronic Security Systems announced that Zicom SaaS Private Limited, a wholly owned subsidiary of the company, has launched managed security services in Hyderabad under Make Hyderabad Safe Initiative. The announcement was made after market hours yesterday, 2 January 2017.

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Maruti Suzuki may drop on fall in sales in December
Jan 02,2017

Maruti Suzuki India announced on Sunday, 1 January 2017 that total sales fell 1% to 1.17 lakh units in December 2016 over December 2015. Domestic sales fell 4.4% to 1.06 lakh units in December 2016 over December 2015. Exports rose 47.1% to 11,494 units in December 2016 over December 2015.

Eicher Motors announced on Sunday, 1 January 2017 that sale volume of VE Commercial Vehicles, an unlisted subsidiary of Eicher Motors fell 20.04% to 4,048 units in December 2016 over December 2015.

Separately, Eicher Motors said that total motorcycles sales rose 42% to 57,398 units in December 2016 over December 2015.

Bombay Dyeing & Manufacturing Company announced on Sunday, 1 January 2017, that pursuant to the approval of the committee of the board the company has entered into an agreement for sale of MIDC land & building and some specific utility machineries of Ranjangaon unit situated at Ranjangaon, District - Pune, Maharashtra, at an aggregate value of Rs 174.45 crore on 31 December 2016.

The company has also entered into an agreement for sale of company owned flat at Beach Towers, Prabhadevi, Mumbai at a value of Rs 9.4 crore on 31 December 2016.

Coal India announced before market hours today, 2 January 2017, that the coal production of the company and its subsidiaries was 96% of targeted production at 54.20 million tonnes in December 2016 and coal offtake was 98% of target at 51.46 million tonnes in December 2016.

Mahanagar Gas announced on Sunday, 1 January 2017 the launch of CNG-fueled two-wheelers in Mumbai.

Punjab National Bank announced on Sunday, 1 January 2017 that the bank has reduced marginal cost of funds based lending rate (MCLR) with effect from 1 January 2017.

State Bank of India has reportedly cut its marginal cost of lending rate, or MCLR, by 90 basis points across all maturities. The countrys largest bank has reduced its key one-year benchmark MCLR to 8% per annum. The one-year benchmark is used for pricing home and car loans. Loans are provided to borrowers at 35 basis points over the MCLR. SBIs new rates were effective from 1 January 2017.

Realty stocks will be in focus as Prime Minister Narendra Modi on the eve of New Year on 31 December 2016, announced that two new middle income categories have been created under the Pradhan Mantri Awaas Yojana in urban areas. Loans of up to Rs 9 lakh taken in 2017, will receive interest subvention of 4%. Loans of up to Rs 12 lakh taken in 2017, will receive interest subvention of 3%. The number of houses being built for the poor, under the Pradhan Mantri Awaas Yojana in rural areas, is being increased by 33%.

In addition to this, another scheme is being put in place for the neo middle and middle class in rural areas. Loans of up to Rs 2 lakh taken in 2017, for new housing, or extension of housing in rural areas, will receive an interest subvention of 3%.

Shares of public sector oil marketing companies (PSU OMCs), automobiles firms and aviation firms will be watched. Petrol price was hiked by Rs 1.29 a litre and the diesel rate by Rs 0.97 a litre on Sunday, 1 January 2017. The increase in petrol and diesel rates is excluding state levies and the actual hike will be higher.

Further, aviation turbine fuel (ATF) price was hiked by a steep 8.6%. ATF price hike is applicable from midnight of 31 December 2016. Meanwhile, subsidised LPG rate was raised by Rs 2 per cylinder.

Shilpi Cable Technologies announced that its board of directors at its meeting held on Friday, 30 December 2016, approved acquisition of 100% shareholding of Gulf Aglow LED Lighting FZCO (GAL), a UAE based company incorporated within the laws of UAE. GAL is engaged in the manufacturing of lighting products.

The acquisition will be in the nature of cash consideration. The indicative time period for the completion of the acquisition is 3 months. This acquisition is intended to expand market share of Shilpi Cable in lighting products, wires & cables in middle east & African countries. The transaction is subject to applicable FEMA and RBI regulations. The announcement was made after market hours on Friday, 30 December 2016.

Ujaas Energy announced that it has received letter of Intent from MOIL for design, engineering, procurement & supply, construction, erection, testing & commissioning of solar PV plant with tracking system on turnkey basis of 5 megawatts (MW) (AC) capacity in Maharashtra. The announcement was made on Saturday, 31 December 2016.

IL&FS Engineering and Construction Company announced that it has received a letter of acceptance (LoA) for a road contract worth Rs 242.56 crore from Ministry of Road Transport & Highways (MoRTH) through CE (NH) PWD, Government of Karnataka.

The engineering, procurement & construction (EPC) project is expected to be completed in 24 months. The company is currently executing a metro rail contract in Karnataka for Bangalore Metro Rail Corporation for a value of Rs 326.99 crore. The announcement was made after market hours on Friday, 30 December 2016.

Bafna Pharmaceuticals announced that the meeting of the board of directors of the company is scheduled to be held on 4 January 2017, to transact withdrawal of entire preferential issue of 40 lakh share warrants and in-principle application filed with the stock exchanges.

The reasons the board will consider such a proposal is that the proposed allottees in the promoter group and one of the investors were ineligible due to sale/purchase/transfer within the group during the 6 months preceding the relevant date and due to inordinate delay in the process, few of the proposed allottees expressed their unwillingness to subscribe for the issue

The board will also propose and consider fresh issue of 80 lakh share warrants to promoter and non-promoter group subject to necessary approvals. The announcement was made after market hours on Friday, 30 December 2016.

Transformers and Rectifiers (India) announced that the company has been awarded the order for 40 numbers of 15MVA and 40 numbers of 20MVA power transformers with natural/synthetic ester oil of 66 kV class amounting to Rs 92 crore from Gujarat Energy Transmission Corporation Limited (GETCO).

The order falls under the normal course of business. The company neither has any interest in the entity that awarded the order nor fall within related party transactions. With this order, the companys order book as on date stands around Rs 960 crore.

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Sun Pharma to be watched after clarification on fire accident
Dec 30,2016

Sun Pharmaceutical Industries (Sun Pharma) clarified after market hours yesterday, 29 December 2016, with respect to news suggesting blast at the companys unit on 28 December 2016. A fire broke out at its Ahmednagar factory during excavation work, causing burn injuries to four workmen at the excavation site. All the four injured workmen were immediately rushed to a nearby Hospital.

Two of the injured workmen succumbed to burn injuries and other two are being treated at the hospital. According to preliminary updates, both of them are responding well to treatment. The company is currently investigating the matter with the help of local law enforcement. There is no loss of production at Ahmednagar factory on account of this incident. This is not a material event nor would have any bearing on the operations/performance of the company, Sun Pharma added.

Jagran Prakashan announced that the meeting of the board of directors of company is scheduled to be held on 5 January 2017, inter-alia, to consider the proposal for buy-back of shares. The announcement was made after market hours yesterday, 29 December 2016.

Godrej Properties announced that it has entered into a partnership to develop a residential group housing project in the prime locality of Bavdhan, West Pune. This project will be developed under the profit share arrangement. The announcement was made before market hours today, 30 December 2016.

GE Power India announced that it has been awarded a contract worth about Rs 271.1 crore by Bharat Heavy Electricals (Bhel) to supply components and services for the supercritical steam generator island packages for 2x800 megawatts (MW) coal-based Uppur thermal power project (contract value about Rs 162.6 crore) and 1x800 MW coal-based North Chennai supercritical thermal power project stage-III (contract value about Rs 108.5 crore). Both the thermal power projects are located in Tamil Nadu. This is in line with the governments focus on upgrading the power infrastructure in the country. The announcement was made before market hours today, 30 December 2016.

Shriram Transport Finance Company announced that the allotment committee-non-convertible debentures (NCDs) of the company in a meeting held yesterday, 29 December 2016, allotted debentures aggregating to Rs 75 crore on private placement basis. The debentures have tenure of 10 years and carry coupon rate of 8.5% per annum. The announcement was made after market hours yesterday, 29 December 2016.

R S Software (India) announced that the company has made further investment of Rs 5.9 crore in Paypermint, its subsidiary, for allotment of 59 lakh equity shares of Rs 10 each. The company is no longer holding the entire shareholdings of Paypermint. The announcement was made after market hours yesterday, 29 December 2016.

Paypermint is into its first year of operations and is operating in the field of online payment facilitation. The acquisition is made to effect growth of subsidiary. The company will hold 75% and 25% will be held by Rajnit Rai Jain in Paypermint.

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RIL in spotlight after commissioning new Paraxylene plant at Jamnagar
Dec 29,2016

Reliance Industries (RIL) announced the successful commissioning of the first phase of Para-xylene (PX) plant at Jamnagar, Gujarat. The announcement was made after market hours yesterday, 28 December 2016.

The plant with capacity of 2.2 million metric tonnes per annum (MMTPA) is built with state-of-the-art crystallization technology from BP which is highly energy efficient and environment friendly. With the commissioning of this plant, RlLs PX capacity will more than double from 2 MMTPA to 4.2 MMTPA. On commissioning of entire PX capacity, RIL will be the worlds second largest PX producer with 9% of global PX capacity and 11% share of global production.

The new PX capacity will add value to the output from refineries and improve the profitability of the Jamnagar complex. PX is the building block for the entire polyester chain. The new capacity will complete the integration within RILs polyester value chain, leading to improved margins and also strengthen its position in polyester industry globally.

Mukesh D. Ambani, Chairman and Managing Director, RIL, said the commissioning of the new PX plant marks beginning of the culmination of a series of projects including the refinery off-gas cracker, ethane import project and petcoke gasification. These projects are part of the largest contemporary investment, in excess of Rs 1 lakh crore, in Refining and Petrochemicals sector anywhere in the world. RILs projects are on schedule and at an advanced stage of mechanical completion. The new PX capacity takes RIL a step closer to being among the top 10 petrochemical players globally, Ambani said.

Goa Carbon announced that the operations at the companys Bilaspur plant in Chhattisgarh had commenced from 27 December 2016. The company had earlier announced the temporary shut-down of this plant. The announcement was made after market hours yesterday, 28 December 2016.

Pratibha Industries announced that a meeting of the board of directors of the company shall be held on 4 January 2017, inter-alia, to consider and approve, the issue and allotment of shares on preferential basis to the lenders of the company under strategic debt restructuring (SDR) scheme. The announcement was made after market hours yesterday, 28 December 2016.

JMC Projects (India) announced that it has secured new orders worth over Rs 1457 crore. The announcement was made after market hours yesterday, 28 December 2016.

Vindhya Telelinks announced that the next board meeting of the company is scheduled to be held on 3 January 2017, to consider and approve proposal for issuance of bonds/redeemable non-convertible debentures (NCDs)/other debt securities on private placement basis, in one or more tranches, aggregating upto Rs 150 crore subject to approval of shareholders through postal ballot. The announcement was made after market hours yesterday, 28 December 2016.

Dilip Buildcon (DBL) announced that the India Rating & Research (Ind-Ra) has upgraded the companys long term issuer rating and the long term rating on its bank facilities to IND A from IND A- while resolving the rating watch positive (RWP). The outlook is stable. The agency has also upgraded the short term rating on DBLs bank facilities to IND A1 from INDA2+. The announcement was made after market hours yesterday, 28 December 2016.

Kuantum Papers announced that Credit Analysis & Research (CARE) has reviewed credit ratings for the companys fixed deposits, long term and short term bank facilities and has upgraded the external rating to CARE BBB+; stable for long term bank facilities, CARE A2 for short term bank facilites and CARE BBB+ (FD); stable for fixed deposits. The announcement was made after market hours yesterday, 28 December 2016.

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TCS in focus after securing contract from a Canada firm
Dec 28,2016

TCS announced that VersaCoId Logistics Services, Canadas largest end-to-end supply chain solutions company for temperature sensitive products has selected TAP, TCS procure to pay cloud solution, to manage their operating costs with greater efficiency. The announcement was made after market hours yesterday, 27 December 2016.

Akzo Nobel India announced that it has inaugurated a first-of-its-kind specialty coatings production facility and colour laboratory in Noida, Uttar Pradesh, to service its customers in the consumer electronics, automobile and cosmetics industry. The announcement was made after market hours yesterday, 27 December 2016.

With an investment of Euro 0.4 million or Rs 3 crore, the new site will manufacture 600 kilolitre of coatings annually, thus catering to the localisation drive undertake by many large companies. Already commissioned, the facility is in its first phase, the second phase is likely to be completed by the end of 2016, with scope for further expansion.

Asian Oilfield Services announced that it proposes to convene a meeting of the board of directors on 30 December 2016, inter alia, to consider and approve the allotment of warrants, subject to receipt of application money from the proposed allottee. The announcement was made after market hours yesterday, 27 December 2016.

Dhanuka Agritech announced that a meeting of buyback committee of board of directors of the company will be held on 3 January 2017, inter-alia, to approve the final terms and conditions of buyback of equity shares of the company, subject to shareholders approval. The outcome of the postal ballot being conducted, to seek such shareholders approval, will also be announced on 2 January 2017. The announcement was made after market hours yesterday, 27 December 2016.

Sunil Hitech Engineers announced that it has secured a road engineering, procurement & construction (EPC) project worth Rs 434 crore in Arunachal Pradesh. The announcement was made after market hours yesterday, 27 December 2016.

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Sasken Comm in focus after fixing record date for buyback
Dec 27,2016

Sasken Communication Technologies announced that it has fixed 6 January 2017 as record date for the proposed buyback of shares. The announcement was made after market hours yesterday, 26 December 2016. The company on Saturday, 24 December 2016 announced to the stock exchanges that the buyback committee of the board of directors, at its meeting held on 23 December 2016, fixed the buyback price of Rs 410 per share and the total consideration for buyback at Rs 120.04 crore excluding the transaction costs. This represents 16.52% of the total issued and paid-up equity share capital of the company as on 31 March 2016.

Capital First announced that the meeting of the debenture committee of the board of directors of the company will be held on 29 December 2016, to consider the private placement of rated, listed, secured/unsecured/perpetual, redeemable, non‐convertible securities in the nature of debentures. The debentures shall be listed on the debt market segment of National Stock Exchange of India (NSE). The announcement was made after market hours yesterday, 26 December 2016.

Shilpa Medicare announced that the board of directors, at its meeting held yesterday, 26 December 2016, allotted 30.25 lakh equity shares at Rs 570 per share in the name of TA FII Investors, Mauritius pursuant to the resolution passed by the shareholders at their extra-ordinary general meeting held on 26 December 2016 and in-principal approvals received from BSE and NSE. The announcement was made after market hours yesterday, 26 December 2016.

Apollo Hospitals Enterprise announced that the company has issued a letter of comfort for an aggregate sum of Rs 37.10 crore to ICICI Bank in connection with the sanction of credit facilities in favour of its step-down subsidiary, Alliance Dental Care Limited, Chennai. The announcement was made after market hours yesterday, 26 December 2016.

Kaya announced that the company is in receipt of letter dated 25 December 2016 issued by Kaya Middle East DMCC (Kaya DMCC) confirming the settlement of consideration amount for acquiring 75% beneficial interest in Minal Medical Centre, Dubai and Minal Specialized Clinic Dermatology, Sharjah. Hence, the corporate guarantee provided by the company stands cancelled on payment of the consideration amount by Kaya DMCC

On 27 September 2016, the company had announced the corporate guarantee provided by it on behalf of Kaya DMCC, wholly owned subsidiary of the company, for payment of AED 22.5 million by Kaya DMCC for acquiring 75% beneficial interest in Minal Medical Centre, Dubai and Minal Specialized Clinic Dermatology, Sharjah.

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Yes Bank in spotlight after raising Rs 3000 crore via bonds
Dec 26,2016

Yes Bank announced that it has placed Rs 3000 crore of Basel III compliant Additional Tier-1 (AT1) bonds through private placement against the base issue size of Rs 2100 crore. The bonds will be listed on the BSE and its proceeds will qualify for Basel III Tier-I capital. The bonds carry a coupon rate of 9.5% per annum. The bonds have been rated as CARE AA (Stable Outlook) by CARE Ratings and IND AA (Stable Outlook) by India Ratings & Research (A Fitch Group Company). The announcement was made on Saturday, 24 December 2016.

ONGC announced that its board on Friday, 23 December 2016, considered the proposal and approved acquisition of the entire 80% participating interest (PI) of Gujarat State Petroleum Corporation (GSPC) along with operatorship rights,at a purchase consideration of $995.26 million for Deen Dayai West Field in Krishna Godavari (KG) Basin offshore. The announcement was made after market hours on Friday, 23 December 2016.

ONGC and GSPC were engaged in discussions on a potential transaction for purchase by ONGC of GSPCs stake and operatorship in NELPn++III block in KG Basin offshore.

ONGC shall also pay part consideration of $200 million to GSPC towards future consideration for six discoveries other than Deen Dayai West Field, which will be adjusted upon valuation of the these discoveries subsequent to approval of their Field Development Plans by DGH/Management Committee of the block.

The transaction would be documented by signing a farm-in agreement with GSPC. Requisite approval from the Government will be sought by GSPC in accordance with provisions of production sharing contract of the block.

JK Tyre & Industries announced that a meeting of its board of directors will be held on 28 December 2016, for considering raising of funds through various means. The funds shall be raised via issue of securities, convertible/non-convertible, with or without warrant by way of public and/or private offerings and/or qualified institutions placement or any combination thereof, subject to such approvals as may be required. The announcement was made after market hours on Friday, 23 December 2016.

Rashtriya Chemicals and Fertilizers (RCF) announced that it has issued commercial paper (CP) for Rs 150 crore on 23 December 2016, in favour of HDFC Bank, having maturity date as 23 March 2017. The announcement was made after market hours on Friday, 23 December 2016.

Apar Industries announced that a meeting of its board of directors is scheduled to be held on 6 January 2017, to consider buyback of the fully paid-up equity shares of the company. The announcement was made after market hours on Friday, 23 December 2016.

Trent announced that Brickwork Ratings has upgraded the rating for the non-convertible debentures (NCDs) amounting to Rs 75 crore issued by the company from BWR AA to BWR AA+. The outlook was maintained stable. Instruments with this rating are considered to have a high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk. The announcement was made after market hours on Friday, 23 December 2016.

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Yes Bank to be watched after raising Rs 3000 crore via bonds
Dec 26,2016

Yes Bank announced that it has placed Rs 3000 crore of Basel III compliant Additional Tier-1 (AT1) bonds through private placement against the base issue size of Rs 2100 crore. The bonds will be listed on the BSE and its proceeds will qualify for Basel III Tier-I capital. The bonds carry a coupon rate of 9.5% per annum. The bonds have been rated as CARE AA (Stable Outlook) by CARE Ratings and IND AA (Stable Outlook) by India Ratings & Research (A Fitch Group Company). The announcement was made on Saturday, 24 December 2016.

ONGC announced that its board on Friday, 23 December 2016, considered the proposal and approved acquisition of the entire 80% participating interest (PI) of Gujarat State Petroleum Corporation (GSPC) along with operatorship rights,at a purchase consideration of $995.26 million for Deen Dayai West Field in Krishna Godavari (KG) Basin offshore. The announcement was made after market hours on Friday, 23 December 2016.

ONGC and GSPC were engaged in discussions on a potential transaction for purchase by ONGC of GSPCs stake and operatorship in NELPn++III block in KG Basin offshore.

ONGC shall also pay part consideration of $200 million to GSPC towards future consideration for six discoveries other than Deen Dayai West Field, which will be adjusted upon valuation of the these discoveries subsequent to approval of their Field Development Plans by DGH/Management Committee of the block.

The transaction would be documented by signing a farm-in agreement with GSPC. Requisite approval from the Government will be sought by GSPC in accordance with provisions of production sharing contract of the block.

JK Tyre & Industries announced that a meeting of its board of directors will be held on 28 December 2016, for considering raising of funds through various means. The funds shall be raised via issue of securities, convertible/non-convertible, with or without warrant by way of public and/or private offerings and/or qualified institutions placement or any combination thereof, subject to such approvals as may be required. The announcement was made after market hours on Friday, 23 December 2016.

Rashtriya Chemicals and Fertilizers (RCF) announced that it has issued commercial paper (CP) for Rs 150 crore on 23 December 2016, in favour of HDFC Bank, having maturity date as 23 March 2017. The announcement was made after market hours on Friday, 23 December 2016.

Apar Industries announced that a meeting of its board of directors is scheduled to be held on 6 January 2017, to consider buyback of the fully paid-up equity shares of the company. The announcement was made after market hours on Friday, 23 December 2016.

Trent announced that Brickwork Ratings has upgraded the rating for the non-convertible debentures (NCDs) amounting to Rs 75 crore issued by the company from BWR AA to BWR AA+. The outlook was maintained stable. Instruments with this rating are considered to have a high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk. The announcement was made after market hours on Friday, 23 December 2016.

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JSW Energy will be watched on plan to raise funds
Dec 23,2016

JSW Energy said that its board will meet on 27 December 2016, to consider raising long term funds through the issuance of non-convertible debentures by way of a private placement. The announcement was made after market hours yesterday, 22 December 2016.

Hinduja Ventures said that its board of directors has approved the disinvestment of 4.36 crore equity shares of Rs 10 each held by the company in Hinduja Energy (India), in tranches, as per independent valuation of Rs 31.58 per share to third party. The announcement was made after market hours yesterday, 22 December 2016.

Suzion Energy announced a joint venture with the AMP Solar for the development and construction of a 15 megawatts (MW) solar pv project located at Achampet in Telangana. According to the contract signed between Suzlon Energy and the AMP Solar on 21 December 2016, the AMP Solar shall acquire a 49% stake in Rudra Solarfarms, a special purpose vehicle (SPV) set up by Suzlon for executing this project. AMP Solar has the option to acquire the balance of the 51% stake in the SPV in the future in accordance with the relevant rules and regulations. The off taker of the SPV project will be the Telangana State Southern Power Distribution Company (TSSPDCL). Suzion will be responsible for project commissioning and to provide comprehensive operation and maintenance services for a period of 25 years. The project is expected to be commissioned in the financial year 2017 (FY 2017). Suzlon won solar projects of 210 MW in Telangana through a competitive bidding process and the power purchase agreements (PPAs) for the same were signed in February 2016. These include one project of 100 MW, one of 50 MW and four projects of 15 MW each. The announcement was made after market hours yesterday, 22 December 2016.

Voltamp Transformers said that few of contract workmen at the companys Savli factory situated at Village Vadadala in Vadodara, Gujarat resorted to violent act on 20 December 2016 with the companys production supervisors, outside factory premise. The company suspended Savli factory operations effective from 21 December 2016 to ensure safety and security of the companys employees and property. However, operations at the companys Makarpura factory situated at Vadodara, Gujarat are totally normal. The announcement was made after market hours yesterday, 22 December 2016.

Karnataka Bank said it opened its 738th branch at Thakurli in Thane district on 22 December 2016.

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South Indian Bank in focus after board approves rights issue of shares
Dec 22,2016

South Indian Bank said that its board approved rights issue of equity shares to shareholders. The bank will issue one equity share at Rs 14 each for every three equity shares held (1:3). The announcement was made after market hours yesterday, 21 December 2016.

JSW Steel said it has fixed 5 January 2017 as the record date for the proposed 10-for-1 stock split. The announcement was made after market hours yesterday, 21 December 2016.

Vardhman Textiles said that its proposed buyback offer will open on 4 January 2017 and close on 17 January 2017. The company proposes to buyback 62.60 lakh equity shares at Rs 1,150 each. The announcement was made after market hours yesterday, 21 December 2016.

KDDL announced that the committee for preferential issue of zero coupon convertible warrants-2016, at its meeting held yesterday, 21 December 2016, allotted 2.64 lakh zero coupon convertible warrants each convertible into one equity share at Rs 265 per share, to Swades Capital LLC, a promoter group entity. The announcement was made after market hours yesterday, 21 December 2016.

Future Enterprises announced that the committee of directors of the company at its meeting held yesterday, 21 December 2016, allotted 270, 9.5% secured redeemable non-convertible debentures (NCDs) and 180, 9.55% secured redeemable NCDs of face value of Rs 10 lakh each aggregating to Rs 45 crore, on private placement basis. The announcement was made after market hours yesterday, 21 December 2016.

SREI Infrastructure Finance announced that Srei Equipment Finance, a material subsidiary of the company, on 21 December 2016 filed prospectus with BSE and the National Stock Exchange of India towards its public issue of 25 lakh secured redeemable non-convertible debentures of face value of Rs 1,000 each for an amount upto Rs 250 crore with an option to retain over subscription upto Rs 500 crore. The issue will open for subscription on 3 January 2017 and close on 20 January 2017. The announcement was made after market hours yesterday, 21 December 2016.

Nitesh Estates said it redeemed 700 non-convertible debentures (unlisted NCD) out of 1,250 non-convertible debentures held by IDFC for the aggregate value of Rs 70 crore. The announcement was made after market hours yesterday, 21 December 2016.

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SBI to be watched after shareholders approve fund raising plan
Dec 21,2016

State Bank of India announced after market hours yesterday, 20 December 2016, that its shareholders approved the proposal to raise capital through the issue of preferential shares to the government. They also gave an in-principle nod to additional fund raising by way of a public issue, should the bank need to tap the markets.

According to a notification issued to stock exchanges, shareholders approved a preferential issue of shares for upto Rs 5681 crore to the Government of India. This is part of the governments capital infusion plan into the lender.

Separately, shareholders also approved fund raising upto a limit of Rs 15000 crore via a public issue. This fund raising could be in the form of a follow-on public offer (FPO) or private placement through a qualified institutional placement (QIP) or through other means such as American Depository Receipts (ADRs) or Global Depository Receipts (GDRs). Any such public fund raising would be subject to the condition that the governments shareholding in SBI does not fall below 52%.

Bharti Airtel announced after market hours yesterday, 20 December 2016, that its subsidiary Network 12i has entered into a definitive agreement with Orascom Telecom Media and Technology Holding S.A.E (n++Orascomn++) to acquire Orascoms entire equity stake in Middle East North Africa Company Submarine Cable Systems S.A.E (n++MENA-SCSn++). The acquisition is subject to requisite regulatory approvals.

MENA-SCS is a 100% subsidiary of Orascom. MENA - SCS owns and operates a submarine cable network between India and Europe covering Middle East, with options to extend the network to Africa.

The proposed acquisition of MENA-SCS is aimed at further strengthening Airtels global network that currently runs across 225,000 Rkms, covering 50 countries and 5 continents. The additional capacity will enable Airtel to serve the growing demand for data services and enterprise services across its footprint of 18 countries across South Asia and Africa.

Reliance Communications (RCom) said that Fitch Ratings (Fitch), International rating agency, has revised the companys long-term foreign, local currency issuer default ratings and senior secured notes (Notes) ratings from BB- to B+. Fitch has also placed on rating watch negative and assigned a recovery rating of RR4 to the notes. The announcement was made after market hours yesterday, 20 December 2016.

Essel Propack said that it is raising funds of Rs 20 crore through issue of commercial papers (CPs) on private placement basis. Further, the company also said that it has redeemed CPs for Rs 25 crore as per the terms. The announcement was made after market hours yesterday, 20 December 2016.

Oriental Carbon & Chemicals announced that it has commissioned/started the commercial production, ahead of schedule, on 20 December 2016, of the first phase (5,500 metric tonnes per annum capacity) of its project for expansion of insoluble sulphur production capacity at special economic zone (SEZ) at Mundra, Gujarat. The announcement was made after market hours yesterday, 20 December 2016.

Binani Industries said that the consortium of banks to Edayar Zinc, a subsidiary of Binani Industries has appointed an Advocate Commissioner to take possession of the properties mortgaged in favour of the banks and has given a notice to take possession on or after 26 December 2016. Binani Industries said it has been advised that the action is illegal. The company is looking into the matter and is taking suitable legal remedies, it added. The announcement was made after market hours yesterday, 20 December 2016.

Sasken Communication Technologies said that a meeting of the buyback committee of the board of directors of the company will be held on 23 December 2016, to finalize the price at which the shares will be bought back and to fix the record date to ascertain the shareholders who are eligible to participate in the buyback. The outcome of the postal ballot being conducted seeking shareholders approval will also be announced on 23 December 2016. The announcement was made after market hours yesterday, 20 December 2016.

Satin Creditcare Network said that meeting of working committee of the board of director of the company is scheduled to be held on 23 December 2016, for the issuance of non-convertible debentures upto the amount of Rs 15 crore through private placement. The announcement was made after market hours yesterday, 20 December 2016.

Jyoti Structures has received an order from ESKOM, the South African utility, for supply of towers and construction of 765 and 400 kV Masa Ngwedi Transmission line Sec C. The order valued at approximately $15 million is to be executed in 18 months. The project is funded by World Bank. Jyoti is currently executing three contracts for ESKOM in South Africa. Total value of these contracts is approximately $80 million. In the past, the company has satisfactorily completed three major projects for the same client. The announcement was made after market hours yesterday, 20 December 2016.

Seamec said it entered into a charter party agreement with National Petroleum Construction Company for the charter hire of vessel, Hal Supporter, for undertaking a job in West Coast of India. The tenure of the contract is for a firm period of 45 days with option for extension. The contract will likely to continue till end January 2017. For the said contract, the company has taken vessel Hal Supporter from HAL on charter basis. The value of charter during firm period is $171,000. The announcement was made after market hours yesterday, 20 December 2016.

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Cipla in focus on fund raising plan
Dec 20,2016

Drug major Cipla will seek shareholders approval to raise up to Rs 4,000 crore via issue of securities in both domestic and global markets. The company said its board has approved raising funds up to Rs 2,000 crore. It could be via issue of shares or American Depository Receipts (ADRs) or Global Depository Receipts (GDRs) or Foreign Currency Convertible Bonds (FCCBs) or other securities, whether denominated in rupee or foreign currency through a public issue or a private placement, it said.

The board also approved raising of funds up to Rs 2,000 crore by issue of non convertible debentures (NCDs) or bonds, in rupee or foreign currency through a public issue or a private placement, it added. The fund raising is subject to necessary permissions sanctions and approvals and the company is seeking approval of shareholders for the aforesaid enabling resolutions by means of postal ballot, Cipla said. The announcement was made after market hours yesterday, 19 December 2016.

Shares of Tata Group companies will be watched after Cyrus Mistry after market hours yesterday, 19 December 2016, resigned from the boards of all publicly listed companies of the Tata group, including Tata Motors and Indian Hotels, after he was unceremoniously removed as the chairman of Tata Sons on 24 October 2016.

Tata Coffee announced plans to set up a freeze dried coffee plant in Vietnam with an installed capacity of 5000 metric tonnes (MT) per annum. This would be done through a subsidiary of the company to be incorporated. The project is subject to the completion of all legal and other formalities. Estimated project cost is $50 million (approximately Rs 350 crore). This move will further strengthen Tata Coffees growth in the premium instant coffee segment. Tata Coffee already has strong expertise in manufacturing freeze dried coffee at its plant in Theni, Tamil Nadu, which develops blends customized to varied consumer preferences. Freeze dried coffee is a growing segment worldwide in the premium instant coffee segment. Instant Coffee accounts for about 20% of the global coffee consumption with freeze dried instant coffee being the most premium. The plant in Vietnam will serve discerning global customers of Tata Coffee with new product mixes of freeze dried coffee. The announcement was made after market hours yesterday, 19 December 2016.

Wockhardt said that UK Medicines and Healthcare products Regulatory Agency (MHRA) has confirmed that general compliance with the principles and guidelines of Good Manufacturing Practice of the companys manufacturing unit at L-1, Chikalthana, Aurangabad. In view of this, the approval status of the said unit continues. Further, UK MHRA has considered the said manufacturing unit suitable for Risk based Inspection with reduced inspection frequency of 2 years from the existing inspection frequency of 1 year. The announcement was made after market hours yesterday, 19 December 2016.

The Phoenix Mills entered into a share purchase agreement for acquisition of the entire 15.18% stake in its subsidiary Offbeat Developers (ODPL) held by Vistra ITCL (India) and IIRF Holdings X. Further, the company has entered into a share purchase agreement to acquire Eder Rivers entire 4.98% stake in ODPL. Subsequent to the completion of both the aforesaid transactions, the shareholding of The Phoenix Mills in ODPL will increase from 74.48% to 94.64%. The announcement was made after market hours yesterday, 19 December 2016.

Opto Circuits (India) (OCIL) said that the company and its subsidiaries received an order worth Rs 91 crore from Philips Health Care for various products manufactured by the Opto Group of companies. Vinod Ramnani, Chairman & Managing Director of OCIL commented that the latest long term contract helps the company in strengthening its relationship with Philips Health Care. The announcement was made after market hours yesterday, 19 December 2016.

Granules India announced that Granules OmniChem facility, a 50:50 joint venture company of Granules India and Ajinimoto OmniChem N.V., located at Vizag, Andhra Pradesh, completed its first inspection by the United States Food and Drug Administration (USFDA) with seven observations. Granules OmniChem will respond to these observations within the stipulated time period. This facility currently manufactures active pharmaceutical ingredients (API) intermediates.

In the consolidated financial statements, Granules India is accounting only its share of profit/loss from Granules OmniChem as per Ind AS regulations with effect from 1 April 2016, Granules India added. The announcement was made after market hours yesterday, 19 December 2016.

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