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Darshan Orna appoints director
Oct 18,2016

Darshan Orna announced that Company have appointed Prakash Soni as Additional Director of the Company w.e.f. 13 October 2016.

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Gujarat Alkalies & Chemicals appoints director
Oct 18,2016

Gujarat Alkalies & Chemicals has appointed Anil Mukim as an Additional Director on the Board of Directors of the Company with effect from 15 October 2016.

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Gujarat Pipavav Port slips after brokerage downgrade
Oct 18,2016

Meanwhile, the BSE Sensex was up 442.92 points, or 1.61%, to 27,972.89.

On BSE, so far 40,000 shares were traded in the counter, compared with average daily volume of 2.14 lakh shares in the past one quarter. The stock hit a high of Rs 170.80 and a low of Rs 168 so far during the day. The stock hit a 52-week high of Rs 197.35 on 9 September 2016. The stock hit a 52-week low of Rs 136.60 on 30 December 2015. The stock had underperformed the market over the past 30 days till 17 October 2016, falling 3.98% compared with 3.74% decline in the Sensex. The scrip had, however, outperformed the market in past one quarter, falling 0.09% as against Sensexs 0.93% decline.

The mid-cap company has equity capital of Rs 483.44 crore. Face value per share is Rs 10.

According to reports, the brokerage has reduced Gujarat Pipavav Ports earnings per share (EPS) estimates for the financial year ending March 2017 (FY17), the financial year ending March 2018 (FY18) and the financial year ending March 2019 (FY19) by 8%, 14% and 16, respectively.

Container traffic at major ports in Q2 September 2016 remained weak with a flat number on a year-on-year (YoY) basis. Same is the case with rail container data also which is weaker sequentially (from Q1) in YoY growth terms. This data set suggests continued weakness in trade, the brokerage reportedly said.

Gujarat Pipavav Port (GPPL)s net profit rose 60.45% to Rs 59.75 crore on 10.24% fall in net sales to Rs 154.67 crore in Q1 June 2016 over Q1 June 2015.

GPPL is managed and operated by APM Terminals, the ports and terminals company of the maritime giant, the A.P. Moller-Maersk Group. APM Terminals is one of the largest container terminal operators in the world and offers the global shipping community an integrated Global Terminal Network of 56 ports and 154 inland facilities in 63 countries.

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Board of Aarti Industries approves buyback of shares
Oct 18,2016

Aarti Industries announced that the Board of Directors of the Company on 17 October 2016, has approved the buyback of 12 lakh equity shares representing 1.44% of the total number of equity shares of the Company at a price of Rs 800 each and an aggregate amount of Rs 96 crore.

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Gujarat State Financial Corporation announces change in directorate
Oct 18,2016

Gujarat State Financial Corporation announced that P.K. Taneja, IAS, Additional Chief Secretary to Govt., Industries & Mines Department, Sachivalaya, Gandinagar, took over the charge of Managing Director of the Corporation with effect from 18 October 2016 (FN) pursuant to Order dated 17 October 2016 of Government of Gujarat in General Administration Department relieving Arvind Agarwal, IAS of the charge.

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Escorts appoints CEO for its construction business
Oct 18,2016

Escorts announced on 18 October 2016, the appointment of Ajay Mandahr as the new Chief Executive Officer of its construction equipment business.

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Moodys: Indias draft bill on resolution of financial firms is credit positive for banks
Oct 18,2016

Moodys Investors Service says that the draft bill on the resolution of financial firms in India (Baa3 positive) is a credit positive for banks in the country, because it is an important step to having a comprehensive framework in place for the resolution of financial firms.

Currently, the resolution of financial firms in India is based on minor parts of legislation enacted for other purposes, says Srikanth Vadlamani, a Moodys Vice President and Senior Credit Officer. This bill is therefore a credit positive for Indian banks in terms of enhancing overall systemic stability.

At the same time, we note that the draft bill will have to go through multiple steps before becoming law, and could therefore be subject to changes and delays, adds Vadlamani.

Moodys report says that based on the draft bill, bail-ins do not seem to be the preferred form of resolution, with significant restrictions in place for their usage. These restrictions include contractual bail-in clauses for instruments that may be bailed in and requirements that bail-ins should be used only after attempts at recovery have been made.

Consequently, Moodys expects that the Indian banking system will continue to function without an operational resolution regime, and banks should continue to be rated under a basic loss given failure framework.

Moodys also says that the bill ranks depositors above senior unsecured creditors in a liquidation scenario. In contrast, under existing laws, senior unsecured creditors rank pari passu with uninsured depositors. This change is therefore a credit negative for senior unsecured creditors.

At the same time, Moodys notes that such depositor preference is enshrined into law in other jurisdictions in the region, including Singapore (Aaa stable), Malaysia (A3 stable) and Indonesia (Baa3 stable). In those systems, senior debt ratings are on par with deposit ratings, except where they are impacted by different country ceilings. Moodys expects a similar outcome for Indian banks.

Moodys also says that under the draft bill, public sector banks will be brought under the ambit of the resolution framework. By contrast, according to existing laws, public sector bank resolution can only happen under the direction of the government. Moodys does not expect this change to have an impact on Moodys assumption of the level of systemic support for public sector banks, because the banks core public sector character would remain unchanged.

The draft bill also provides for a significant delineation of regulatory powers between the Reserve Bank of India and the proposed Resolution Corporation. This situation will be particularly apparent with respect to some key supervisory powers over banks, including criteria for classifying banks into the various risk categories.

Such a scenario would represent a change compared to the current structure, where the powers rest almost fully within Indias central bank. Consequently, there could be some execution risk, as the system transitions to the new arrangement.

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Volumes jump at TD Power Systems counter
Oct 18,2016

TD Power Systems clocked volume of 4.30 lakh shares by 13:25 IST on BSE, a 149.15-times surge over two-week average daily volume of 3,000 shares. The stock jumped 13.06% to Rs 215.95.

Fortis Healthcare notched up volume of 98.59 lakh shares, a 58.93-fold surge over two-week average daily volume of 1.67 lakh shares. The stock rose 3.39% to Rs 184.30. A bulk deal of 88.78 lakh shares was executed on the scrip at Rs 186 per share at 10:04 IST on BSE.

Valiant Organics saw volume of 6.57 lakh shares, a 57.63-fold surge over two-week average daily volume of 11,000 shares. The stock surged 19.48% to Rs 378.50.

Future Retail clocked volume of 5.06 lakh shares, a 42.18-fold surge over two-week average daily volume of 12,000 shares. The stock rose 1.08% to Rs 155.

Great Eastern Shipping Company saw volume of 1.96 lakh shares, a 26.23-fold rise over two-week average daily volume of 7,000 shares. The stock rose 1.29% to Rs 372.90.

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Fitch: Fund Liquidity Mismatch Risk at a High
Oct 18,2016

Fitch Ratings believes that the likelihood and impact of fund liquidity mismatch risk has increased to a record high in 2016. Frequent bouts of volatility accompanied by redemption spikes and rapid falls in bond prices this year have increased the focus on the effectiveness of liquidity management techniques and the suitability of daily dealing offered by 90% of UCITS bond funds.

In a special report Fitch says asset managers have taken measures to better embed liquidity risk management in their investment process. However, there have been few evolutions in redemption terms and conditions for open-ended funds. This reduces the efficiency of advanced liquidity management techniques and leaves a number of funds vulnerable to severe drawdowns resulting from outflow-driven fire sales in dislocated markets.

Fitch highlights that investment strategies are increasingly constrained by the obligation to implement them in the most liquid manner. This can lead to unintended negative consequences, including excessive portfolio bar-belling, undesired counterparty risk exposure, and over-diversification.

Liquidity is a source of risk but can also be used as a source of returns for asset managers by acting as liquidity providers in one-way markets or by revisiting buy and hold credit investment strategies outside of daily liquidity fund structures.

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Fortis Healthcare advances after large bulk deal
Oct 18,2016

Meanwhile, the S&P BSE Sensex was up 341.72 points, or 1.24%, to 27,871.69

Bulk deal boosted volume on the scrip. On BSE, so far 98.55 lakh shares were traded in the counter, compared with an average volume of 2.17 lakh shares in the past one quarter. The stock hit a high of Rs 189.70 and a low of Rs 178.70 so far during the day. The stock hit a 52-week high of Rs 199 on 16 August 2016. The stock hit a 52-week low of Rs 141.10 on 12 February 2016. The stock had outperformed the market over the past 30 days till 17 October 2016, rising 1.89% compared with 3.74% decline in the Sensex. The scrip aso outperformed the market in past one quarter, rising 2.92% as against Sensexs 0.93% decline.

The mid-cap company has an equity capital of Rs 463.31 crore. Face value per share is Rs 10.

On a consolidated basis, Fortis Healthcares net profit fell 74.07% to Rs 25.26 crore on 7.64% rise in net sales to Rs 1103.22 crore in Q1 June 2016 over Q1 June 2015.

Fortis Healthcare is a leading integrated healthcare delivery service provider in India. The healthcare verticals of the company primarily comprise hospitals, diagnostics and day care specialty facilities.

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Nihar Info Global provides business update
Oct 18,2016

Nihar Info Global announced that the Company is supplying various products like pens, bags, sweets and t- shirts, caps and various Corporate gifts under B2B e-Commerce to various corporates. In this regard the Company has received the purchase order from the below mentioned customer.

Laalsa Business Logistics

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Global IT Spending Projected to Grow 2.9 Percent in 2017
Oct 18,2016

A new type of infrastructure needs to be built that is not just going to reshape business, but also the way people live, according to Gartner, Inc. CIOs are the builders of this infrastructure, which Gartner calls the civilization infrastructure.

Gartner forecasts worldwide IT spending to total $3.4 trillion in 2016, a 0.3 percent decline from last year. In 2017, global IT spending is projected to grow 2.9 percent and reach $3.5 trillion. Analysts said this growth will be driven by the software and IT services segments. Worldwide spending on software is projected to grow 7.2 percent, and IT services 4.8 percent. Software and IT services will be key to the development of the civilization infrastructure.

Peter Sondergaard, senior vice president and global head of Research, explained today to an audience of more than 8,000 CIOs and IT leaders at the sold out Gartner Symposium/ITxpo, said that this civilization infrastructure will be the most important thing IT accomplishes in the next decade.

Civilization infrastructure will forever change the way people engage socially, digitally, and physically through connected sensors and digital intelligence, Mr. Sondergaard said.

CIOs will participate in the building of a new digital platform with intelligence at the center, Mr. Sondergaard said. That platform will enable ecosystems, connecting businesses and collapsing industries. It will change society itself, and the way people live.

This civilization infrastructure will be a new digital platform that extends beyond traditional IT infrastructure using new technologies not familiar to the typical IT department. Your new digital platform will allow you to participate in the evolving world of business, government, and consumer ecosystems because ecosystems are the next evolution for digital. Its how you compete at scale, Mr. Sondergaard said.

The new digital platform consists of five domains: traditional IT systems, customer experience, The Internet of Things (IoT), intelligence and the ecosystem foundation.

Each of these domains are interconnected and interdependent. All have a role, and all are required, Mr. Sondergaard said. Your new digital platform will allow you to participate in the evolving world of business, government, and consumer ecosystems. Because ecosystems are the next evolution for digital. Its how you compete at scale.

Further insight into the five elements of the new digital platform include:

Traditional core IT systems. This is how CIOs run and scale operations. Its building on whats already been built. Its taking high performing traditional IT systems (such as the data centers and networks) and modernizing them to be part of the digital platform.

For example, leading organizations are halfway through the transition to the cloud. It started with Sales and Marketing, and now half of sales-support capabilities are in the cloud. This migration will continue through the end of the decade into functions such as HR, procurement and financial management.

You now need to make cloud, mobile, social and data your core capabilities while investing in resilience, business continuity and disaster recover, insight and outside in a hybrid approach, Mr. Sondergaard said.

Customer experience. This is how CIOs connect and engage in new ways. The digital customer experience may be the only one that the customers have. This is how the business engages in the digital world. The pioneers are exploring how new experiences such as virtual and augmented reality will change the way customers engage.

In the world of chatbots and virtual personal assistants (VPAs), your mobile apps, and even your web presence, will be much less relevant, Mr. Sondergaard said. The new competitive differentiator is understanding the customers intent through advanced algorithms and artificial intelligence. Creating new experiences that solve problems customers didnt realize they had.

The Internet of Things (IoT). This is how the organization senses and acts in the physical world. Adding devices to the IoT domain is the easy part. Processes, workflows, and data integration are much harder. In fact, two-third of organizations have had to rework their existing IT systems to accommodate IoT.

IoT also changes how CIOs should invest in analytics because decisions must move from days to minutes to instant. CIOs should plan to shift their investments in analytics to real-time. Real-time analytics will outpace traditional analytics by a factor of three by 2020 to become 30 percent of the market.

Intelligence. This is how the systems analyze, learn and decide independently. CIOs start with traditional data management, data science and data intelligence. Algorithms determine the action. The new type of intelligence, driven by machine learning is artificial intelligence.

We are building machines that learn from experience and produce outcomes their designers did not explicitly envision. Systems that can experience and adapt to the world via the data they collect, Mr. Sondergaard said. Machine learning and artificial intelligence move at the speed of data, not at the speed of code releases. Information is the new code base.

Ecosystem Foundation. This is how the enterprise interacts as an institution in the digital world. Ecosystems go beyond the capability to decide, CIOs need to build the capability to interact with customers, partners, adjacent industries, even your competitors. The ecosystems allow for the transformation from traditional business with linear value supply chains to networked digital ecosystem businesses.

Many industry models will transform with digital ecosystems. Moving from simple relationships run by intermediaries toward distributed partnerships managed by a shared distributed ledger system like blockchain, Mr. Sondergaard said. Building a strong ecosystem will help you manage the transition. Ecosystems are the future of digital.

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Aarti Inds scales record high after setting record date for share buyback
Oct 18,2016

The announcement was made after market hours yesterday, 17 October 2016.

Meanwhile, the S&P BSE Sensex was up 212.63 points or 0.77% at 27,742.60

On BSE, so far 13,000 shares were traded in the counter as against average daily volume of 10,758 shares in the past one quarter. The stock hit a high of Rs 740 so far during the day, which is a record high for the counter. The stock hit a low of Rs 720 so far during the day. The stock had hit a 52-week low of Rs 417 on 26 February 2016. The stock had outperformed the market over the past 30 days till 17 October 2016, rising 18.04% compared with 3.74% decline in the Sensex. The scrip aso outperformed the market in past one quarter, surging 34.45% as against Sensexs 0.93% decline.

The mid-cap company has equity capital of Rs 41.66 crore. Face value per share is Rs 5.

Aarti Industries said that the board of directors of the company at its meeting held yesterday, 17 October 2016 has approved the buyback up to 12 lakh equity shares of the company representing up to 1.44% of the total equity capital at Rs 800 per share for an aggregate amount of up to Rs 96 crore. The buyback will be on a proportionate basis through the tender offer to all of the equity shareholders/ beneficial owners who hold shares on the record date. Members of the promoter and promoter group of the company have indicated their intention to participate in the proposed buyback, Aarti Industries said. The announcement was made after market hours yesterday, 17 October 2016.

Aarti Industries net profit rose 35.5% to Rs 82.51 crore on 2.2% growth in net sales to Rs 673.24 crore in Q1 June 2016 over Q1 June 2015.

Aarti Industries is one of the leading suppliers to global manufacturers of dyes, pigments, agrochemicals, pharmaceuticals & rubber chemicals

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Marksans Pharma gets ANDA approval for Paricalcitol Capsules
Oct 18,2016

Marksans Pharma announced that USFDA has granted approval for an Abbreviated New Drug Application (ANDA) for Paricalcitol Capsules 1mcg, 2 mcg and 4 mcg.

Paricalcitol Capsules 1mcg, 2 mcg and 4 mcg are therapeutically equivalent to the reference listed drug Zemplar Capsules 1 mcg, 2 mcg and 4 mcg of Abbvie Inc.

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Outcome of board meeting of Atishay
Oct 18,2016

Atishay announced that the meeting of the Board of Directors of the Company was held on 17 October 2016, at 11.30 AM, inter alia, and discussed the following business as under:-

1. The Audit Committee discussed with the half yearly financial results for the six months ended 30 September 2016 and came out with a point to be clarified with an expert. The matter was then put before the board and discussed. After discussion in the Board Meeting -the board came to a conclusion that the half yearly financial results will be considered and approved in the next board meeting which will be held on 24 October 2016 at 11.00 a.m.

2. The board approved the proposal for migrating of the Company to the Main Board of the BSE and complete all the related formalities for same, as to conduct postal ballot.

3. The Board approved to appoint Prajakta V Padhye of M/s Prajakta V.Padhye & Co.- Practicing Company Secretary as scrutinizer for postal ballot.

4. The board also confirmed the appointment of Ajay Mujumdar as Non -Executive Director Independent Director to be passed through postal ballot.

5. Atishay has been listed as Live (Authentication User Agency) as published by UIDAI.

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