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Valecha Engineering appoints directors
Oct 25,2016

Valecha Engineering announced that the Directors have been appointed as per the details given below;

- Kailas P. Chandore- Additional, Non-Executive and Independent Director

- Ashmi Devang Sheth- Additional, Non-Executive and Independent Woman Director

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Bharti Infratel gains after strong Q2 earnings
Oct 25,2016

The result was announced after market hours yesterday, 24 October 2016.

Meanwhile, the BSE Sensex was down 136.13 points, or 0.48%, to 28,042.95.

On BSE, so far 20.85 lakh shares were traded in the counter, compared with average daily volume of 1.64 lakh shares in the past one quarter. The stock hit a high of Rs 399.40 and a low of Rs 371.25 so far during the day. The stock hit a 52-week high of Rs 436.40 on 30 December 2015. The stock hit a 52-week low of Rs 302.10 on 24 June 2016. The stock had outperformed the market over the past 30 days till 24 October 2016, falling 0.22% compared with 1.71% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 2.06% as against Sensexs 0.72% rise.

The large-cap company has equity capital of Rs 1896.67 crore. Face value per share is Rs 10.

Bharti Infratels consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) rose 10% to Rs 1454 crore in Q2 September 2016 over Q2 September 2015.

The company said it had total tower base of 89,791 in Q2 September 2016 with an average sharing factor of 2.21. The total tower base was 87,184 in Q2 September 2015 with an average sharing factor of 2.15.

Akhil Gupta, chairman, Bharti Infratel, said that with the conclusion of recent spectrum auctions, the Indian telecom industry is gearing up for the next round of network rollouts. 960 MHz of data spectrum was sold in 800, 1800, 2100, 2300 & 2500 MHz bands for a sum of approximately Rs 66000 crore, taking the total investment in spectrum since 2010 to over Rs 358000 crore. The telecom sector is already witnessing big increase in demand for high speed data and availability of this additional spectrum will further spur investments from operators towards data rollouts across the country. Bharti Infratel is well poised to capitalize on this opportunity and to support telecom operators in rollout of 3G and 4G networks.

Bharti Infratel is Indias leading provider of tower and related infrastructure and it deploys, owns and manages telecom towers and communication structures, for various mobile operators.

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Nucleus Software to partner with Five-Star Business Finance
Oct 25,2016

Nucleus Software announced that Five-Star Business Finance, a NBFC has selected Nucleus Software for implementing FinnOne Neo, the loan life cycle management solution in cloud.

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Idea Cellular drops after dismal Q2 outcome
Oct 25,2016

The result was announced after market hours yesterday, 24 October 2016.

Meanwhile, the S&P BSE Sensex was down 134.95 points or 0.48% at 28,044.13

On BSE, so far 5.21 lakh shares were traded in the counter as against average daily volume of 9.65 lakh shares in the past one quarter. The stock hit a high of Rs 76.95 and a low of Rs 74.05 so far during the day. The stock had hit a 52-week high of Rs 149.80 on 23 October 2015. The stock had hit a 52-week low of Rs 71.25 on 18 October 2016.

The large-cap company has equity capital of Rs 3601.03 crore. Face value per share is Rs 10.

The consolidated results represents Idea Cellulars standalone and proportionate consolidation of Indus (@16%) and Payments Bank (@49%) at net profit level.

Earnings before interest, taxation, depreciation and amortization (EBITDA) grew 1.8% to Rs 2840.10 crore in Q2 September 2016 over Q2 September 2015 as higher network running expenses due to accelerated expansion, increased subscriber acquisition and servicing cost, and multiple inflationary pressures resulted in overall operating cost increase. EBITDA margin contracted to 30.5% in Q2 September 2016 from 32.2% in Q2 September 2015.

In the recently concluded October 2016 Spectrum auction, Idea acquired 349.2 MHz of spectrum, including 149.2 MHz spectrum in frequency bands of 1800 MHz and 2100 MHz, expanding Idea mobile broadband coverage to Pan India and additional 200 MHz spectrum in frequency bands of 2300 MHz and 2500 MHz to address the future requirement of capacity.

Idea Cellular is gearing to expand its wireless broadband coverage using the spectrum won in recently concluded spectrum auction and plans to spend incremental equipment capex of Rs 1000 crore in FY17. With this, the capex guidance is revised from an earlier level of Rs 6500-7000 crore to Rs 7500-8000 crore, the company said.

Kumar Mangalam Birla, Chairman, Idea Cellular, said that the company is committed to participate in Digital India mission. Idea is gearing itself for the arrival of a tsunami of mobile broadband users as the company expands its wireless broadband coverage to a billion Indians and supplements the companys broadband capacity at 15-20 times current data traffic on existing and new spectrum, Kumar Mangalam Birla said.

Idea Cellular is the third largest wireless operator in India with a revenue market share of 19.3% as on Q1 June 2016. Idea is part of the Aditya Birla Group, which is one of the largest business groups in India.

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SIL Investments to hold board meeting
Oct 25,2016

SIL Investments will hold a meeting of the Board of Directors of the Company on 9 November 2016 to consider, approve and take on record the Un-Audited Financial Results of the Company for the quarter ended September 30, 2016.

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Gini Silk Mills to hold board meeting
Oct 25,2016

Gini Silk Mills will hold a meeting of the Board of Directors of the Company on 4 November 2016 to consider unaudited quarter and half yearly Results of the Company for the period ended as on September 30, 2016.

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Nagarjuna Oil Refinery to hold board meeting
Oct 25,2016

Nagarjuna Oil Refinery will hold a meeting of the Board of Directors of the Company on 8 November 2016.

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Kanishk Steel Industries to hold board meeting
Oct 25,2016

Kanishk Steel Industries will hold a meeting of the Board of Directors of the Company on 24 October 2016.

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Encore Software to hold board meeting
Oct 25,2016

Encore Software will hold a meeting of the Board of Directors of the Company on 14 November 2016.

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Cinerad Communications to hold board meeting
Oct 25,2016

Cinerad Communications will hold a meeting of the Board of Directors of the Company on 4 October 2016.

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Morganite Crucible (India) to hold board meeting
Oct 25,2016

Morganite Crucible (India) will hold a meeting of the Board of Directors of the Company on 10 November 2016 to consider and approve the unaudited financial results for the quarter and half year ended September 30, 2016.

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Phillips Carbon Black to hold board meeting
Oct 25,2016

Phillips Carbon Black will hold a meeting of the Board of Directors of the Company on 10 November 2016 to consider and approve the Unaudited Financial Results of the Company for the quarter and six months ended September 30, 2016.

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Adani Enterprises tumbles after weak Q2 outcome
Oct 25,2016

The result was announced after market hours yesterday, 24 October 2016.

Meanwhile, the BSE Sensex was down 120.08 points, or 0.43%, to 28,059.

On BSE, so far 1.89 lakh shares were traded in the counter, compared with average daily volume of 4.94 lakh shares in the past one quarter. The stock hit a high of Rs 70.70 and a low of Rs 67.70 so far during the day. The stock hit a 52-week high of Rs 94.80 on 26 October 2015. The stock hit a 52-week low of Rs 58.45 on 29 February 2016. The stock had outperformed the market over the past 30 days till 24 October 2016, falling 0.42% compared with 1.71% decline in the Sensex. The scrip had, however, outperformed the market in past one quarter, falling 13.93% as against Sensexs 0.72% rise.

The mid-cap company has equity capital of Rs 109.98 crore. Face value per share is Re 1.

Ameet Desai, Executive Director of Adani Enterprises and Group CFO said that this has been a good quarter with recurring financial performance despite multiple headwinds including market volatility for commodities. The company has well-rounded growth in volume at its mining, agro and city gas businesses during the quarter. With improving economic climate and business sentiment, the company expects to further boost its financial performance, Desai said.

Adani Enterprises is the flagship entity of the Adani group. Adani Enterprises started as a trading firm dealing in myriad commodities. Over a period of time, coal became its main stay and after it emerged as Indias leading coal importer, it made forays into multiple sectors as forward and backward integration.

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Tata Power Company intimates of change in Chairman of Tata Sons
Oct 25,2016

Tata Power Company announced that the Tata Sons (TSL) has replaced Cyrus P. Mistry as the Chairman of TSL with immediate effect. Ratan N. Tata shall be the Interim Chairman of TSL until a new Chairman is appointed.

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Tata Group stocks slide after Cyrus Mistrys ouster
Oct 25,2016

The announcement was made after market hours yesterday, 24 October 2016.

Tata Metaliks (down 7.89%), Tata Steel (down 3.33%), Tata Communications (down 3.06%), Tata Global Beverages (down 2.63%), Tata Chemicals (down 2.17%), Tata Motors (down 2.1%), Tata Investment Corporation (down 1.91%), Tata Power (down 1.91%), Tinplate Company of India (down 1.73%), Tata Sponge Iron (down 1.35%), Tata Teleservices (Maharashtra) (down 1.33%) and Tata Coffee (down 1.11%), edged lower. Rallis India was up 1%.

The S&P BSE Sensex was up 1.57 points, or 0.01% at 28,180.65.

The decision was taken at a board meeting held yesterday, 24 October 2016. The board named Ratan N. Tata as interim chairman of Tata Sons. The board has constituted a selection committee to choose a new chairman. The committee comprises Ratan N. Tata, Venu Srinivasan, Amit Chandra, Ronen Sen and Lord Kumar Bhattacharyya, as per the criteria in the Articles of Association of Tata Sons. The committee has been mandated to complete the selection process in four months.

Tata Sons is the promoter of the major operating Tata companies and holds significant shareholdings in these companies. About 66% of the equity capital of Tata Sons is held by philanthropic trusts endowed by members of the Tata family. The largest of these trusts are the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust, which were created by the families of the sons of Jamsetji Tata, the Founder.

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