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Prakash Industries gains after receiving mining lease
Jan 12,2017

The announcement was made after market hours yesterday, 11 January 2017.

Meanwhile, the S&P BSE Sensex was up 89.09 points, or 0.33%, to 27,229.50

On the BSE, 4.34 lakh shares were traded on the counter so far as against the average daily volumes of 1.40 lakh shares in the past one quarter. The stock hit a high of Rs 68.90 in intraday trade so far, which is a 52-week high for the counter. The stock had hit a low of Rs 65.50 so far during the day. The stock hit a 52-week low of Rs 23.05 on 12 February 2016.

The stock had outperformed the market over the past 30 days till 11 January 2017, rising 35.22% compared with 1.66% rise in the Sensex. The scrip also outperformed the market in past one quarter, gaining 15.87% as against Sensexs 1.82% fall.

The small-cap company has equity capital of Rs 135.60 crore. Face value per share is Rs 10.

As per the mining plan, the geological reserves are around 9.9 million tonnes. The mine is expected to be developed in the next 6 months and thereafter the iron ore production from the mine would be utilized for captive purpose, Prakash Industries said. With this captive sourcing, the operating margin and profitability of the company would improve significantly, it added.

Prakash Industries reported 1533.71% surge in net profit to Rs 14.54 crore on 0.69% rise in total income to Rs 502.60 crore in Q2 September 2016 over Q2 September 2015.

Prakash Industries has diversified interests in steel, power and rigid PVC pipes.

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Moodys and ICRA: Stable outlook for Indias power sector reflects improved coal availability, policy initiatives
Jan 12,2017

Moodys Investors Service and its Indian affiliate, ICRA, say that their stable outlook for the power sector in India (rated Baa3 positive by Moodys) over the next 12-18 months reflects sustained improvement in domestic coal availability, as well as the Indian governments policy initiatives, which will likely lead to improvements in the financial position of state-owned electricity distribution companies in the next two to three years.

In fact, we changed the outlook for the Indian power sector to stable from negative, because the increased domestic production of coal will ease constraints on fuel supply, says Abhishek Tyagi, a Moodys Vice President and Senior Analyst.

Moodys also says that the Indian governments debt restructuring of the financially weak distribution utilities n++ under the Ujwal Discom Assurance Yojana (UDAY) implemented by 17 states so far n++ will likely improve the companies financial capacity to make timely payments to power generators.

These distribution utilities will also benefit from the lower cost of power purchases, due to improved domestic coal availability, the subdued tariff level of short-term traded power, and flexibility provided by the government to generating companies for the optimal utilization of coal, says Sabyasachi Majumdar, an ICRA Senior Vice President.

ICRA points out that an improvement in domestic coal availability has substantially mitigated coal supply risk and the risk of under-recovery in fuel costs n++ due to a reliance on costlier coal imports n++ for thermal independent power producers (IPPs).

ICRA also says that the improving financial profile of distribution utilities n++ which are key off-takers n++ will benefit IPPs through a reduction in the receivable cycle, and a modest improvement in the plant load factor over the next 18 months.

In addition, ICRA notes the uncertainty as to the timing of tariff compensations for affected thermal IPPs, given that the relevant authorities have yet to decide on the timing of such compensations for imported coal-based projects affected by changes in regulations in Indonesia (Baa3 stable).

Moodys says that renewable generation could act as a complementary source of power, rather than a competitor to thermal energy.

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HCL Technologies positioned amongst Leaders for Digital Services in Retail
Jan 12,2017

HCL Technologies has been positioned amongst leaders for Digital Services in Retail by the leading management consulting firm Zinnov. In its recent report titled n++Retail Digital Services Landscape - 2016n++, Zinnov analysed the retail digital transformation landscape and conducted a ranking of 21 digital service providers focused on the retail vertical. As per the Zinnov Zones for Digital in Retail study, HCL has been placed in the Leadership Zone for overall Digital Services in Retail as well as Retail Supply Chain Management.

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Board of TV Today Network to consider Q3 results
Jan 12,2017

T.V. Today Network announced that a meeting of the Board of Directors of the Company is scheduled to be held on 09 February 2017, inter alia, to consider, approve and take on record the Unaudited Financial Results of the Company for the quarter ended 31 December 2016 along with the limited review report of the auditors for the corresponding period (Q3).

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Steel Strips Wheels gains after winning order
Jan 12,2017

The announcement was made during market hours today, 12 January 2017.

Meanwhile, the S&P BSE Sensex was up 116.51 points or 0.43% at 27,256.92.

On the BSE, 6,101 shares were traded on the counter so far as against the average daily volumes of 9,091 shares in the past one quarter. The stock had hit a high of Rs 710 and a low of Rs 674 so far during the day.

The stock had hit a record high of Rs 775 on 14 October 2016 and a 52-week low of Rs 284 on 17 February 2016.

The small-cap company has equity capital of Rs 15.53 crore. Face value per share is Rs 10.

Steel Strips Wheels (SSWL) announced that it bagged another after-market exports order for supplying caravan steel wheels for European Union (EU) trailer market. Total order covers supplies of 62,000 wheels in 3 months. Orders comprise of 13 inch steel wheels to be supplied by the company with shipments starting from February 2017.

Steel Strips Wheels net profit rose 19.9% to Rs 18.02 crore on 2.8% decline in net sales to Rs 290.95 crore in Q2 September 2016 over Q2 September 2015.

Steel Strips Wheels designs and manufactures automotive steel wheels and is among the leading supplier to Indian and global automobile manufacturers.

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Caplin Point Laboratories to announce December quarter results
Jan 12,2017

Caplin Point Laboratories announced that the meeting of the Board of Directors of the Company is scheduled to be held on 06 February 2017 inter alia to consider, approve and take on record the Un-audited Financial Results for the quarter/nine months ended 31 December 2016.

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Board of IFGL Refractories to consider December quarter results
Jan 12,2017

IFGL Refractories announced that a meeting of the Board of Directors of the Company is scheduled to be held on 11 February 2017 for considering, amongst others, unaudited financial results, both on stand-alone and consolidated basis, of the Company for quarter ended on 31 December 2016.

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Hindustan Organic spurts on plans to sell some fixed assets
Jan 12,2017

The announcement was made after market hours yesterday, 11 January 2017.

Meanwhile, the S&P BSE Sensex was up 110.53 points or 0.41% at 27,250.94.

Huge volumes were witnessed on the counter. On the BSE, 4.42 lakh shares were traded in the counter so far as against average daily volume of 77,099 shares in past one quarter. The stock was locked at a high of Rs 25.80 in intraday trade. The stock had hit a low of Rs 24.10 so far during the day. The stock had hit a 52-week high of Rs 27.20 on 26 October 2016. The stock had hit a 52-week low of Rs 12.20 on 17 February 2016.

The stock had outperformed the market over the past one month till 11 January 2017, rising 6.97% compared with the Sensex 1.47% gains. The scrip had also outperformed the market in past one quarter, rising 6.7% as against Sensexs 3.35% decline.

The small-cap company has equity capital of Rs 67.17 crore. Face value per share is Rs 10.

Hindustan Organic Chemicals (HOCL) said that a meeting of the board of directors of the company will be held on 20 January 2017, to consider and to approve the proposal to sell part of the companys land at Rasayani to BPCL.

The board will also consider a proposal to sell land, plant & machinery of C.N.A plant at HOCL Rasayani to The Indian Space Research Organisation (ISRO) as per government of Indias directions.

The board will consider Q3 results on that day.

Hindustan Organic Chemicals reported a net loss of Rs 46 crore in Q2 September 2016, lower than net loss of Rs 48.08 crore in Q2 September 2015. Net sales dropped 0.4% to Rs 26.92 crore in Q2 September 2016 over Q2 September 2015.

Hindustan Organic Chemicals manufactures basic organic chemicals.

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Board of Trinity League India to consider December quarter results
Jan 12,2017

Trinity League India announced that meeting of the Board of Directors of the Company will be held on 24 January 2017, inter alia, to consider and approve the Un-audited Financial results of the Company for the quarter ended 31 December 2016.

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AksharChem (India) to announce Q3 and 9M results
Jan 12,2017

AksharChem (India) announced that a meeting of Board of Directors of the Company is schedule to be held on 23 January 2017 inter alia, to consider, approve and take on record Un-audited Financial Results for the quarter and nine months ended 31 December 2016.

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Board of Hawkins Cooker to consider December quarter results
Jan 12,2017

Hawkins Cooker announced that a meeting of the Board of Directors will be held on 31 January 2017, to approve and take on record the Unaudited Financial Results for the quarter ended 31 December 2016.

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MMTC provides update on Neelachal Ispat Nigam (JV of MMTC and Govt. of Orissa)
Jan 12,2017

MMTC announced that Neelachal Ispat Nigam (NINL) - the Joint Venture Company promoted jointly by MMTC and Government Orissa has signed a mining lease agreement on 11 January 2017 for Iron Ore, the basic raw material for operation of NINL.

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Godrej Industries to announce Q3 results
Jan 12,2017

Godrej Industries announced that a meeting of the Board of Directors of the Company will be held on 14 February 2017, inter alia, to consider and approve the unaudited financial results (Standalone & Consolidated) of the Company for the quarter ended 31 December 2016 (Q3).

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Biocon scales record high as USFDA accepts BLA for proposed biosimilar Trastuzumab
Jan 12,2017

The announcement was made after market hours yesterday, 11 January 2017.

Meanwhile, the S&P BSE Sensex was up 91.67 points or 0.34% at 27,232.08

On the BSE, 1.64 lakh shares were traded on the counter so far as against the average daily volumes of 32,692 shares in the past one quarter. The stock hit a high of Rs 1,052.05 in intraday trade so far, which is record high for the counter. The stock hit a low of Rs 1,017.60 so far during the day. The stock had hit a 52-week low of Rs 430.80 on 12 February 2016.

The stock had outperformed the market over the past 30 days till 11 January 2017, rising 7.2% compared with 1.66% rise in the Sensex. The scrip also outperformed the market in past one quarter, gaining 6.62% as against Sensexs 1.82% fall.

The large-cap company has equity capital of Rs 100 crore. Face value per share is Rs 5.

Biocon and Mylan N V announced that the US Food and Drug Administration (FDA) has accepted Mylans biologics license application (BLA) for MYL-1401O,a proposed biosimilar trastuzumab, for filing through the 351(k) pathway. This product is a proposed biosimilar to branded trastuzumab,which is indicated to treat certain HER2-positive breast cancers. The anticipated FDA goal date set under the Biosimilar User Fee Act(BsUFA) is 3 September 2017. Mylan and Biocons proposed biosimilar trastuzumab is also under review by the European Medicines Agency (EMA).

Mylan President Rajiv Malik commented that this is Mylan and Biocons first US regulatory submission through the 351(k) pathway and reinforces the strength of collaboration to increase access to a broad portfolio of high-quality, affordable biosimilars worldwide.

Dr Arun Chandavarkar, CEO and Joint Managing Director, Biocon, said it is a major milestone for the Mylan and Biocon collaboration since it is the first US regulatory submission through joint global biosimilars program.

Biocon reported consolidated net profit of Rs 146.70 crore in Q2 September 2016 as compared with net loss of Rs 10.60 crore in Q2 September 2015. Consolidated total income rose 21.3% to Rs 984.20 crore in Q2 September 2016 over Q2 September 2015.

Biocon is Indias largest and fully-integrated, innovation-led biopharmaceutical company.

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Board of Indian Oil Corporation to consider Q3 results
Jan 12,2017

Indian Oil Corporation announced that a Board Meeting of the Company is scheduled on 31 January 2017, inter alia, to consider and approve the Unaudited Financial Results of the Company for the third quarter ended 31 December 2016 (Q3).

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