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Shoppers Stop to consider Q3 and 9M results
Jan 11,2017

Shoppers Stop announced that a Meeting of the Board of Directors of the Company is scheduled to be held on 31 January 2017, inter alia, to consider & approve the un-audited financial results for the third quarter and nine months ended on 31 December 2016.

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US stocks end on a mixed note
Jan 11,2017

US stocks ended Tuesdays session on a mixed note on 10 January 2017. The Nasdaq finished out front, followed by the S&P 500 unchanged and the Dow with losses. Todays session got off to a flat start after some retailers and restaurants issued disappointing guidance. The Nasdaq Composite notched its fourth record close in a row Tuesday, representing the longest stretch of record closes for the tech-heavy index since 1999.

Fresh all-time highs for the Nasdaq came as the Dow industrials failed to reach the psychologically significant level of 20,000 again, amid otherwise tepid enthusiasm for equities ahead of a news conference from President-elect Donald Trump set for Wednesdayn++his first since being elected on 8 November 2016.

The Dow Jones Industrial Average which had traded up by as many as 70 points and within 43 of breaching the 20,000 mark earlier in the session, closed down 31.85 points, or 0.2%, at 19,855.53. But the Nasdaq Composite Index shined, finishing up 20.00 points, or 0.4%, at 5,551.82, for the sixth straight day in the green. Meanwhile, The S&P 500 index ended at its flattest level in years, unchanged from Monday at 2,268.90. The broad-market gauge had been up by as many as 10 points earlier in the session.

Five of the 11 main sectors closed lower, led by a decline in the real-estate sector and a gain in consumer-discretionary stocks. Shares of Merck and Exxon Mobil dragged on the benchmark.

Market participants are awaiting the kick off earnings season for some support for the recent rally in U.S. stocks.

Some of evidence of pre-Trump news conference jitters were on display in the dollar which pulled back somewhat on Wednesday. The greenback was up about 0.1% against major currencies. The dollar has been rising on hopes that the new administrations fiscal stimulus will boost the economy, but some traders believe that bet may have been pushed too far, too fast.

Economic data at Wall Street showed that November Wholesale Inventories increased 1.0%, which was above the consensus of 0.9%. The prior months reading was revised to -0.1% from -0.4%.

Separately, November Job Openings and Labor Turnover Survey showed that job openings decreased to 5.198 million from a revised 5.451 million (from 5.534 million) in October.

Bullion metals pared early gains by Tuesdays settlement as the dollar strengthened on 10 January 2017, but uncertainty a day ahead of a scheduled press conference by President-elect Donald Trump helped lift the precious metal to its highest finish in six weeks.

Gold for February delivery tacked on 60 cents, or less than 0.1%, to settle at $1,185.50 an ounce. Prices touched a high above $1,190 during the session. Silver for March delivery added 16.5 cents, or 1%, to $16.848 an ounce after climbing 1% Monday.

Oil prices fell sharply on Tuesday, 10 January 2016 to finish the session at their lowest level in nearly five weeks, weighed by worries about an increase in U.S. production and doubts that global producers will comply with a sweeping agreement to curb output.

On the New York Mercantile Exchange, February West Texas Intermediate crude fell by $1.14, or 2.2%, to settle at $50.82 a barrel. March Brent crude on Londons ICE Futures exchange dropped $1.30, or 2.4%, to $53.64 a barrel.

With the Organization of the Petroleum Exporting Countries-led pact in effect for less than a month, many market participants have been unsure whether the agreement will be carried out and if participating producers will comply with their allotted quota.

The Treasury market remained relatively flat throughout todays session. The 2-yr yield closed unchanged at 1.19%, while the 10-yr yield finished up one basis point at 2.38%.

Todays trading volume finished above the 50-day moving average as 1.17 billion shares changed hands at the NYSE floor.

Tomorrows lone economic report is the MBA Mortgage Applications Index, which will be released at 7:00 ET.

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Artson Engineering to announce December quarter results
Jan 11,2017

Artson Engineering announced that the Board Meeting of the Company will be held on 21 January 2017, inter alia, to consider and approve the Unaudited Financial Results of the Company for the quarter ended 31 December 2016.

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Aviation stocks pick up pace after drop in crude oil prices
Jan 11,2017

Meanwhile, the S&P BSE Sensex was up 145.74 points or 0.54% at 27,045.30.

Jet Airways (India) (up 0.01%), SpiceJet (up 1.94%) and InterGlobe Aviation (up 1.41%) gained.

In global commodities markets, Brent for March 2017 settlement was up 10 cents at $53.74 a barrel. The contract had dropped $1.3 a barrel or 2.36% to settle at $53.64 a barrel during previous trading session.

Crude oil prices edged up today, 11 January 2017, lifted by a small supply cut by crude exporter Saudi Arabia, but markets remained under pressure from signs that the planned Organization of the Petroleum Exporting Countries (OPEC) output reductions were being poorly implemented and as supplies from elsewhere rose.

Lower crude oil prices would benefit aviation firms as jet fuel prices, which typically constitute about 50% of airlines operating costs, are directly linked to international crude oil prices. Jet fuel prices tend to fall with slide in oil prices.

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Board of Ashoka Buildcon to consider Q3 results and interim dividend
Jan 11,2017

Ashoka Buildcon announced that the meeting of the Board of Directors of the Company will be held on 23 January 2017, inter alia;

1. To consider and approve the Standalone Unaudited Financial Results (with Limited Review Report) of the Company for the quarter ended 31 December 2016 (Q3 FY17); and

2. To consider and recommend payment of interim dividend, if any.

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Board of Blue Pearl Texspin to consider December quarter results
Jan 11,2017

Blue Pearl Texspin announced the Meeting of the Board of Directors of the Company will be held on 11 February 2017, inter alia, to consider and approve the Companys Un- Audited Financial Results for the quarter ended on 31 December 2016.

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Bharat Electronics scales record high as board to consider stock-split
Jan 11,2017

Meanwhile, the S&P BSE Sensex was up 127.52 points or 0.47% at 27,027.08

On the BSE, 39,000 shares were traded on the counter so far as against the average daily volumes of 35,718 shares in the past one quarter. The stock hit a high of Rs 1,549.50 in intraday trade so far, which is record high for the counter. The stock hit a low of Rs 1,528.60 so far during the day. The stock had hit a 52-week low of Rs 1,009 on 1 March 2016.

The stock had underperformed the market over the past one month till 10 January 2017, rising 0.45% compared with the Sensexs 1.45% gains. The scrip, however, outperformed the market in past one quarter, gaining 20.61% as against the Sensexs 4.21% fall.

The large-cap company has equity capital of Rs 223.36 crore. Face value per share is Rs 10.

Shares of Bharat Electronics had gained 4.02% to settle at Rs 1,512.70 yesterday, 10 January 2017 on reports that a foreign brokerage firm has assigned outperformer rating on the stock with target price at Rs 1,800 per share.

Bharat Electronics will declare its Q3 December 2016 results on 27 January 2017. The companys net profit rose 68.2% to Rs 346.25 crore on 15.1% growth in net sales to Rs 1755.89 crore in Q2 September 2016 over Q2 September 2015.

Bharat Electronics was established at Bangalore, India, by the Government of India under the Ministry of Defence in 1954 to meet the specialised electronic needs of the Indian defence services. Over the years, it has grown into a multi-product, multi-technology, multi-unit company servicing the needs of customers in diverse fields in India and abroad.

The Government of India held 74.41% stake in Bharat Electronics (as per the shareholding pattern as on 31 December 2016).

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The benefits of demonetization will help in sustaining economic growth in the longer term
Jan 11,2017

While releasing the survey on demonetisation to remonetisation process, Mr. Gopal Jiwarajka, President, PHD Chamber said that there is a mixed response from the economists, businesses and people.

Majority of the economists (81% Respondents) have cited a significant impact on Indias economic growth in the shorter term but the benefits of demonetization will help in sustaining economic growth in the longer term.

Survey of economists, businesses and people on a structured questionnaire was undertaken by the PHD Research Bureau of PHD Chamber of Commerce and Industry during the month of December 2016.

The survey got responses from more than 50 economists and analysts, 700 business firms and 2000 people.

In the business segment, 73% respondents are facing huge cash crunch due to demonetization as they are unable to fulfill their daily cash requirements to pay wages to daily wagers and contractual workforce.

Production process not only in the informal sector but also in the formal sector has been impacted directly or indirectly, said the survey.

Cash driven segments such as fruits and vegetable markets, horticulture and floriculture, agricultural and food processing, construction activities, among others have been impacted.

But the immediate effect would probably be short-lived and the long term effect will drive the Indian economy to new areas of growth in the coming times, said the survey study.

Though the contraction in GDP cannot be ruled out due to fall in economic activity, growth in demand will start gaining momentum once the economy moves out of the transition stage of demonetization to remonetisation, said Mr. Gopal Jiwarajka.

It is expected that removal of black money from the system would create a good scope for reduction in interest rates via-a-vis lower inflationary expectations and reduce the incidence of direct taxation, he said

While assessing the impact on people, 92% Respondents said that the major impact of currency crunch is seen on daily needs of the people such as purchase of eatables, dairy products and other necessities, according to the survey

58% Respondents are facing high level of difficulty in fulfilling their day to day activities. 89% Respondents reported unavailability of cash at banks and ATMs as a major hurdle in withdrawing/depositing cash from the bank/ATMs, said the survey study.

There is a need of setting up of digital literacy booths outside banks majorly in rural regions for spreading digital literacy across all sections of the nation, said Mr. Jiwarajka

Government should incentivize RTGS (Real Time Gross Settlement) and NEFT (National Electronic Funds Transfer) under the ambit of digital transfers so that more and more people adopt the available facility and are less dependent on cash transactions.

The threshold limit of Rs. 2,00, 000 for transactions under the RTGS and Rs. 50,000 for transfers under NEFT should be exempted from the service tax.

Also, removal of service tax charged while making payments through credit/ debit card or any other payment card up to Rs. 2,000 in a single transaction is a good start for the transformation of cash transactions to the digital transfers, however, the limit could be revised to Rs. 10,000.

Government should print more and smaller denominations such as Rs. 50, 100 and Rs. 500 notes so that there should be sufficient circulation of money in the market. Government needs to ensure that the sufficient quantity of money is being transported to the banks and ATMs in both rural and urban areas on time, he said

Facility of mobile ATMs in the Government, public sector and private corporate sector offices having more than 25 employees in their establishments, he added

Cash driven sectors such as constriction sector and Small and Micro Units (SMEs) should be facilitated by expanded cash limits for the payment of salaries of their daily wage and contractual workers, said Mr. Gopal jiwarajka

There is a need for low interest rates to propel a boom in Housing and Real Estate. This will substantially increase Employment as well as contribute towards GDP growth, he said

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Somany Ceramics gains after raising short term debt
Jan 11,2017

The announcement was made after market hours yesterday, 10 January 2017.

Meanwhile, the S&P BSE Sensex was up 132.41 points or 0.50% at 27,032.84.

On the BSE, 1,815 shares were traded in the counter so far as against average daily volume of 4,464 shares in the past one quarter. The stock had hit a high of Rs 489 and a low of Rs 476.55 so far during the day. The stock had had hit a record high of Rs 714 on 26 October 2016. The stock had hit a 52-week low of Rs 321.90 on 26 February 2016.

The stock had underperformed the market over the past one month till 10 January 2017, dropping 8.47% compared with the Sensexs 0.57% gains. The scrip had also underperformed the market in past one quarter, falling 22.38% as against the Sensexs 4.21% fall.

The small-cap company has equity capital of Rs 8.48 crore. Face value per share is Rs 2.

Somany Ceramics said that commercial paper was issued in order to reduce its high interest bearing cash credit limits, which will in turn reduce its cost of borrowing.

Somany Ceramics net profit jumped 116.1% to Rs 23.01 crore on 10.2% rise in net sales to Rs 444.33 crore in Q2 September 2016 over Q2 September 2015.

Somany Ceramics is a manufacturer of ceramic tiles and allied products.

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Alembic to announce Q3 and 9M results
Jan 11,2017

Alembic announced that a Meeting of Board of Directors of the Company shall be held on 19 January 2017, inter alia, to consider and approve the Unaudited Financial Results of the Company for the quarter and nine months period ended on 31 December 2016.

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Uflex unveils ASEPTOn++ its much awaited Aseptic Liquid Packaging Brand
Jan 11,2017

Uflex has unveiled ASEPTOn++, its Aseptic Liquid Packaging Brand. Aseptic packaging ensures that food remains free from bacteria and other harmful micro organisms for a period of atleast 8 month under room temperature. The packaging increases shelf life of the product also saving from the dependency on cold chain.

Uflexs Aseptic Liquid Packaging manufacturing plant will be commercially operational by April 2017. The Company has invested Rs 580 crore towards setting up the Aseptic Packaging plant.

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Suzlon Energy secures order for 226.8 MW wind power project
Jan 11,2017

Suzlon Energy announced its order win of 226.8 MW wind power project from a leading Independent Power Producer (IPP). The order consists of 108 units of S111 90m tubular tower with rated capacity of 2.1 MW. The project will be located in Anantapur district of Andhra Pradesh, and is scheduled for completion by March 2017.

Suzlon has entered into an exclusive Supply and Installation Agreement (SIA) and Engineering and Construction of the project. Suzlon will also be responsible for operation and maintenance services with dedicated Life cycle asset management services for an initial period of 10 years. The project has the potential to provide power to over 1,20,000 households and reduce 0.48 million tonnes of CO2 emissions per annum.

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IndusInd Bank extends gains after announcing good Q3 results
Jan 11,2017

The result was announced at the fag end of market hours yesterday, 10 January 2017. The stock had risen 0.19% to settle at Rs 1,161.85 yesterday, 10 January 2017.

Meanwhile, the S&P BSE Sensex was up 151.18 points or 0.56% at 27,050.74.

On the BSE, 83,668 shares were traded on the counter so far as against the average daily volumes of 77,876 shares in the past one quarter. The stock had hit a high of Rs 1,207.10 and a low of Rs 1,186.05 so far during the day. The stock had hit a record high of Rs 1,255.30 on 7 September 2016 and a 52-week low of Rs 799 on 11 February 2016.

The stock had outperformed the market over the past one month till 10 January 2017, gaining 4.49% compared with the Sensexs 0.57% gains. The scrip had, however, underperformed the market in past one quarter, falling 4.89% as against the Sensexs 4.21% fall.

The large-cap bank has equity capital of Rs 597.71 crore. Face value per share is Rs 10.

IndusInd Banks gross non-performing assets (NPAs) rose to Rs 971.62 crore as on 31 December 2016 as against Rs 899.01 crore as on 30 September 2016 and Rs 681.13 crore as on 31 December 2015. The ratio of gross NPAs to gross advances increased to 0.94% as on 31 December 2016 as against 0.9% as on 30 September 2016 and 0.82% as on 31 December 2015.

The ratio of net NPAs to net advances stood at 1.88% as on 31 December 2016 as against 1.93% as on 30 September 2016 and 1.92% as on 31 December 2015. The banks provisions and contingencies (excluding tax provisions) rose 22.45% to Rs 216.85 crore in Q3 December 2016 over Q3 December 2015.

IndusInd Bank is a leading private sector bank in India.

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MEP Infrastructure Developers provides update on Nagpur Ring Road 1 project
Jan 11,2017

MEP Infrastructure Developers announced that MEP Nagpur Ring Road 1 (MEP NRR1), a Subsidiary of the Company, had entered into a Concession Agreement with The National Highways Authority of India (NHAI) dated 19 May 2016 for Four Laning Stand Alone Ring Road/ Bypass for the Nagpur City Package I from Km 0+500 to Km 34+000 (Design 33+500 Km) in the State of Maharashtra on BOT (Hybrid Annuity) basis.

MEP NRR1 had achieved the Financial Closure in terms of the Concession Agreement executed with NHAI (the Authority), by tying up of Project Finance of Rs.238.95 crore on 14 October 2016.

The Authority now has given 05 January 2017 as the Appointed Date for the project vide letter dated 09 January 2017.

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Board of Paushak to consider Q3 and 9M results
Jan 11,2017

Paushak announced that a Meeting of Board of Directors of the Company shall be held on 20 January 2017, inter alia to consider and approve the Unaudited Financial Results of the Company for the quarter and nine months ended on 31 December 2016.

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