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IndusInd Bank nudges higher after opening new branch
Apr 25,2017

The announcement was made after market hours yesterday, 24 April 2017.

Meanwhile, the S&P BSE Sensex was up 191.31 points, or 0.65% to 29,847.15.

On the BSE, 3,721 shares were traded in the counter so far, compared with average daily volumes of 1.44 lakh shares in the past one quarter.

The stock had hit a high of Rs 1,444 and a low of Rs 1,435.20 so far during the day. The stock had hit a record high of Rs 1,444.55 on 13 April 2017. The stock had hit a 52-week low of Rs 965.65 on 21 April 2016.

It had outperformed the market over the past one month till 24 April 2017, gaining 3.19% compared with the Sensexs 0.8% rise. The scrip had also outperformed the market over the past one quarter, advancing 14.56% as against the Sensexs 8.33% rise.

The large-cap private sector bank has equity capital of Rs 598.21 crore. Face value per share is Rs 10.

Expanding presence across Jharkhand, IndusInd Bank recently inaugurated its third branch in Jamshedpur, the first planned industrial city of India. The branch is located at Mango, Jamshedpur.

With the inauguration of this branch, the bank now has 19 branches in Jharkhand.

Meanwhile, IndusInd Bank announced during market hours yesterday, 24 April 2017 that it recently inaugurated its first branch in Bhinder, known for its silver and cloth market. The branch is located at Rampole Darwaja, station road, Bhinder, Udaipur, Rajasthan. With the inauguration of this branch, the bank now has 94 branches in Rajasthan.

IndusInd Banks net profit rose 21.2% to Rs 751.61 crore on 22.4% increase in total income to Rs 5041.31 crore in Q4 March 2017 over Q4 March 2016.

Induslnd Bank is a private sector bank and caters to the needs of both consumer and corporate customers.

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ADB Lending Hits Record High in its 50th Year as Infrastructure Demand Rises
Apr 25,2017

The Asian Development Banks (ADB) annual operations exceeded the $30 billion mark for the first time in its 50-year history last year as regional demand for development finance and knowledge n++ particularly on infrastructure n++ continues to grow, according to the banks 2016 Annual Report (AR) released today.

ADBs total lending in 2016, including co-financing, reached $31.70 billion n++ an 18% increase from 2015, according to the annual report. The total include $17.47 billion in approvals for loans and grants, $169 million for technical assistance, and $14.06 billion for co-financing, which increased by a record 31% over 2015. Disbursements, a key indicator for successful project implementation, also reached a new high of $12.26 billion in 2016.

Private sector operations reached $2.5 billion for only the second time in ADBs history n++ a result reflecting ADBs long-term strategy to significantly boost support for private enterprise to create more high quality jobs and increase living standards across Asia and the Pacific. Apart from its own funds, ADBs private sector operations also generated a record $5.84 billion in co-financing n++ a $1.2 billion increase from 2015 n++ which included $238 million in official co-financing to support non-sovereign operations.

These figures update the provisional operations numbers released by ADB in January.

n++The increase in our development financing to Asia and the Pacific reflects our strong commitment to improving the lives of the people in the region,n++ said ADB President Takehiko Nakao. n++As ADB celebrates 50 years of providing development assistance, we will strive even harder to meet the changing needs of our developing member countries.n++

The 2016 AR reviews the significant economic transformation in Asia and the Pacific over the past 50 years, and the role played by ADB to support the regions development to improve peoples lives. The report notes that while the regions economic growth and success in reducing poverty have exceeded the most optimistic forecasts, there remain significant challenges to be addressed.

n++We cannot be complacent,n++ said President Nakao. n++The fact remains there are still 330 million people living in absolute poverty across Asia and the Pacific. A lack of infrastructure continues to limit economic growth, inhibit poverty reduction, and restrict improvements to quality of life.n++

ADB estimates that the region requires $1.7 trillion a year to meet its infrastructure financing needs. There are other pressing challenges such as climate change, health, education, and gender equality. To help address these development needs, ADB has scaled up its operations and expanded its financing capacity through the merger of its Asian Development Fund (ADF) lending operations with the Ordinary Capital Resources (OCR) balance sheet, which became effective on 1 January this year. OCR equity almost tripled, from $17.3 billion to $48.1 billion, as $30.8 billion of ADF loans and other assets were transferred from the ADF. The merger is expected to increase ADBs annual loan and grant approvals by over 50% to more than $20 billion by 2020.

ADB will also increase grant support to its poorest countries by 70% over the next 4 years, following the successful $3.3 billion replenishment of the ADF in May 2016. Contributions from 32 donors, including an increase in pledges from emerging Asian economies, will allow ADB to double the minimum allocation for small countries, provide strengthened support for disaster risk management, and offer greater assistance for regional health security.

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Board of Rallis India recommends final dividend
Apr 25,2017

Rallis India announced that the Board of Directors of the Company at its meeting held on 24 April 2017, inter alia, have recommended the final dividend of Rs 2.5 per equity Share (i.e. 250%) , subject to the approval of the shareholders.

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Board of Tata Metaliks recommends final dividend
Apr 25,2017

Tata Metaliks announced that the Board of Directors of the Company at its meeting held on 21 April 2017, inter alia, have recommended the final dividend of Rs 2.5 per equity Share (i.e. 25%) , subject to the approval of the shareholders.

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Wendt India to hold AGM
Apr 25,2017

Wendt India announced that the Annual General Meeting (AGM) of the company will be held on 24 July 2017.

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Board of Reliance Industries recommends final dividend
Apr 25,2017

Reliance Industries announced that the Board of Directors of the Company at its meeting held on 24 April 2017, inter alia, have recommended the final dividend of Rs 11 per equity Share (i.e. 110%) , subject to the approval of the shareholders.

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Board of Wendt India recommends final dividend
Apr 25,2017

Wendt India announced that the Board of Directors of the Company at its meeting held on 24 April 2017, inter alia, have recommended the final dividend of Rs 15 per equity Share (i.e. 150%) , subject to the approval of the shareholders.

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Lumax declines on profit booking
Apr 25,2017

Meanwhile, the S&P BSE Sensex was up 179.86 points or 0.61% at 29,835.70. The S&P BSE Small-Cap index was up 117.01 points or 0.77% at 15,408.27.

On the BSE, 2,485 shares were traded on the counter so far as against the average daily volumes of 4,251 shares in the past one quarter. The stock had hit a high of Rs 1,540 and a low of Rs 1,481.15 so far during the day.

The stock had hit a record high of Rs 1,561.55 on 24 April 2017 and a 52-week low of Rs 430.50 on 4 May 2016. It had outperformed the market over the past one month till 24 April 2017, surging 11.82% compared with the Sensexs 0.8% rise. The scrip had also outperformed the market over the past one quarter, gaining 38.1% as against the Sensexs 8.33% rise.

Shares of Lumax Industries had rallied 12.2% to settle at Rs 1,522.65 in a single trading session yesterday, 24 April 2017, after the company said after market hours on 21 April 2017 that it has received a new customer order.

Lumax Industries said it has received order to supply new age headlamps and rear lamps for the new generation Maruti Suzuki Swift that commences production later this year at carmakers Gujarat facility in Mehsana district. The order will be fulfilled from the Sanand plant.

Lumax has done a capex of about Rs 120 crore, at Sanand, which is expected to commence operations from November 2017. The capex has been funded through internal accruals.

Going forward, the plant is expected to cater to the needs of TATA Tigor at Sanand as well as HMSIs existing models at Gujarat. The facility will have a capacity of about 3 lakh car-sets annually. The plant is expected to be operational at its full capacity by FY19-20.

On consolidated basis, Lumax Industries net profit rose 67.7% to Rs 17.04 crore on 3.4% decline in net sales to Rs 297.15 crore in Q3 December 2016 over Q3 December 2015.

Lumax Industries is one the leading players in the automotive lighting industry in India.

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Alembic Pharmaceuticals receives final approval for Olmesartan Medoxomil Tablets & Medoxomil with Hydrochlorothiazide Tablets
Apr 25,2017

Alembic Pharmaceuticals has received USFDA final approval for Olmesartan Medoxomil Tablets, 5mg, 20mg and 40mg and Olmesartan Medoxomil with Hydrochlorothiazide Tablets 20/12.5 mg, 40/12.5 mg and 40/25 mg. The approved ANDAs are indicated for the treatment of hypertension.

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Jubilant Life Sciences receives final approval for Olmesartan Medoxomil Tablets
Apr 25,2017

Jubilant Life Sciences has received from USFDA Abbreviated New Drug Application final approval for Olmesartan Medoxomil Tablets, 5 mg, 20 mg and 40 mg, the generic version of Benicar of Daiichi Sankyo, which is used for the treatment of hypertension.

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Tribhovandas Bhimji Zaveri to relaunch its renovated Vijayawada showroom
Apr 25,2017

Tribhovandas Bhimji Zaveri announced that the Company is relaunching in grand new renovated Vijaywada showroom with large range of Diamond and Gold Collection on Tuesday, 25 April 2017.

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Pincon Spirit enters into bottling tie-up
Apr 25,2017

Pincon Spirit has undergone a bottling tie-up with Nethravathi Distilleries situated at Bangalore Mangalore Road, Avargere Village, Kunigal Taluk, Kunigal, Karnataka for supply and distribution of goods in the state of Kerala.

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US stocks register strong gains
Apr 25,2017

U.S. stocks rallied to finish higher on Monday, 24 April 2017 with major indexes advancing more than 1% and the tech-heavy Nasdaq scoring a record high close following a strong showing by centrist Emmanuel Macron in the French presidential election, which averted fears that Paris could eventually move to leave the euro and the European Union. The strong showing by Macron, who still must face off against euroskeptic rival Marine Le Pen on 7 May 2017, sparked a global relief rally for assets perceived as risky.

The Dow Jones Industrial Average umped 216.13 points, or 1.1%, to close at 20,763.89. The Nasdaq Composite Index finished up 73.30 points, or 1.2%, to a record close at 5,983.82, after reaching an all-time high of 5,989.92 earlier in the session. The S&P 500 surged 25.46 points, or 1.1%, to 2,374.15.

Nine of the indexs 11 sectors traded higher, led by a gain in financials, industrial and tech stocks.

Dow was led by a surge in shares of J.P. Morgan Chase & Goldman Sachs.

Centrist candidate Emmanuel Macron topped the field in Sundays first-round election. Hell face off with euroskeptic, right-wing candidate Marine Le Pen in a 7 May 2017 runoff. Early polls give Macron a substantial lead.

Investors were also waiting to hear more about a n++massiven++ U.S. tax package that President Donald Trump said is coming this week, which could revive the so-called n++Trump traden++ that started after his election in November, and which came on hopes that policies seen as pro-growth would swiftly pass Congress.

Perceived safe-haven assets like gold, the Japanese yen, and U.S. Treasurys all fell on the day.

Yields for the 10-year Treasury jumped to 2.27% from 2.23% late Friday.

Crude oil benchmark fell for a sixth straight session on Monday, 25 April 2017 as nagging worries about rising domestic production outweighed optimism about prospects for an extended agreement on output cuts by OPEC and other major producers.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in June fell 39 cents, or 0.8%, to close at $49.23 a barrel, its lowest settlement in nearly four weeks.

June Brent crude, the global benchmark, fell 36 cents, or 0.7%, to settle at $51.60 a barrel on Londons ICE futures exchange.

Gold for June delivery dropped $11.60, or 0.9%, to close at $1,277.50 an ounce, but off a session low of $1,266. May silver ended little changed at $17.86 an ounce.

Investors did not receive any economic data on Monday. However, on Tuesday, participants will receive several economic reports, including the February Case-Shiller Home Price Index (consensus 5.8%) at 9:00 ET, February FHFA Housing Price Index at 9:00 ET, March New Home Sales (consensus 590,000) at 10:00 ET, and April Consumer Confidence (consensus 122.3) at 10:00 ET.

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Rallis India consolidated net profit declines 10.01% in the March 2017 quarter
Apr 25,2017

Net profit of Rallis India declined 10.01% to Rs 31.01 crore in the quarter ended March 2017 as against Rs 34.46 crore during the previous quarter ended March 2016. Sales declined 1.16% to Rs 348.12 crore in the quarter ended March 2017 as against Rs 352.19 crore during the previous quarter ended March 2016.

For the full year,net profit rose 101.96% to Rs 297.07 crore in the year ended March 2017 as against Rs 147.09 crore during the previous year ended March 2016. Sales rose 9.76% to Rs 1678.30 crore in the year ended March 2017 as against Rs 1529.11 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales348.12352.19 -1 1678.301529.11 10 OPM %11.9612.82 -15.6914.98 - PBDT43.5151.21 -15 268.87229.72 17 PBT31.5245.56 -31 221.56186.11 19 NP31.0134.46 -10 297.07147.09 102

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Rallis India standalone net profit declines 1.86% in the March 2017 quarter
Apr 25,2017

Net profit of Rallis India declined 1.86% to Rs 32.22 crore in the quarter ended March 2017 as against Rs 32.83 crore during the previous quarter ended March 2016. Sales rose 0.28% to Rs 327.66 crore in the quarter ended March 2017 as against Rs 326.75 crore during the previous quarter ended March 2016.

For the full year,net profit rose 110.90% to Rs 266.03 crore in the year ended March 2017 as against Rs 126.14 crore during the previous year ended March 2016. Sales rose 8.73% to Rs 1400.49 crore in the year ended March 2017 as against Rs 1288.04 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales327.66326.75 0 1400.491288.04 9 OPM %15.4215.18 -16.7816.01 - PBDT53.7548.65 10 242.87202.99 20 PBT43.1443.93 -2 200.93165.16 22 NP32.2232.83 -2 266.03126.14 111

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