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L&T Tech moves higher after pact with Microsoft
Oct 06,2016

The announcement was made during market hours today, 6 October 2016.

Meanwhile, the S&P BSE Sensex was up 51.21 points or 0.18% at 28,272.19.

On BSE, so far 12,000 shares were traded in the counter as against average daily volume of 2.77 lakh shares in the past two weeks. The stock hit a high of Rs 842.10 and a low of Rs 827 so far during the day. The stock had hit a record high of Rs 931 on 23 September 2016. The stock had hit a record low of Rs 823.30 yesterday, 5 October 2016.

The mid-cap company has equity capital of Rs 20.34 crore. Face value per share is Rs 2.

L&T Technology Services announced a digital engineering transformation partnership with Microsoft Corporation to deliver Microsoft Azure Engineering Solutions for global enterprises across industries. This strategic partnership between the two companies enables enterprises around the world to leverage L&T Technologys cutting-edge IP-led digital engineering solutions hosted on Microsofts Azure enterprise cloud-first, mobile-first infrastructure.

L&T Technology Services debuted on the stock exchanges on 23 September 2016.

Based on consolidated financials, L&T Technology Services reported net profit of Rs 135.05 crore on revenue from operations of Rs 765.38 crore for the quarter ended 30 June 2016. The company reported net profit of Rs 434.23 crore on revenue from operations of Rs 2894.03 crore for FY 2016.

L&T Technology Services provides engineering, research and development (ER&D) services to manufacturing, technology and process engineering companies, to help them develop and build products, processes and infrastructure required to deliver products and services to their end customers.

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Moderating Demand Trend for Air Cargo Continues in August: IATA
Oct 06,2016

The International Air Transport Association (IATA) released data for global air freight markets in August 2016 showing that demand, measured in freight tonne kilometers (FTKs), rose 3.9% year-on-year. Freight capacity measured in available freight tonne kilometers (AFTKs) increased by 4.1% over the same period. Load factors remained historically low, keeping yields under pressure.

Industry conditions have improved since the particularly soft patch at the start of the year. Carriers in all regions except Latin America reported an increase in year-on-year demand in August. However, regional results varied considerably. For the third time in four months airlines based in Europe posted the highest collective annual growth of all regions, while airlines in the Middle East experienced their slowest growth in more than seven years.

August numbers showed improvements in cargo demand. While this is good news, the underlying market conditions make it difficult to have long-term optimism. World trade volumes fell by 1.1% in July with no improvement on the horizon. And the current global political rhetoric in much of the world is more focused on protectionism than trade promotion. Economies need to grow out of the current economic doldrums. Governments should be focused on promoting trade, not raising protectionist barriers, said Alexandre de Juniac, IATAs Director General and CEO.

Regional Performance

Asia-Pacific airlines reported a 2.8% increase in demand for air cargo in August compared to last year. Capacity in the region expanded 1.2%. International traffic within the region has been the strongest of the big-four markets (Asia Pacific, Europe, North America, and Middle East) so far this year, with traffic up by 6.5% year-on-year in July 2016.

North American carriers saw freight volumes expand 5.5% in August 2016 year-on-year, and capacity increase by 3.7%. International freight volumes grew by 4.6% in August - their fastest pace since the US seaports disruption boosted demand earlier in 2015. However, seasonally adjusted activity has barely altered from 2008 levels. The strength of the US dollar continues to keep the US export market under pressure.

European airlines posted the largest increase in freight demand of all regions in August 2016 - 6.6% year-on-year. Capacity increased 4.7%. The positive European performance corresponds with an increase in reported new export orders in Germany over the last few months. European freight demand has now broken out of the corridor that it occupied between mid-2010 and the start of the year.

Middle Eastern carriers saw air freight demand slump to 1.8% year-on-year in August 2016 - the slowest pace since July 2009. Capacity increased by 6.9%. The strong upward trend seen in Middle Eastern traffic over the past year or so has halted. In seasonally-adjusted terms, volumes in July 2016 were slightly below those seen in January 2016. The weakening performance is partly attributable to slower growth between the Middle East and Asia. This suggests that Middle Eastern carriers are facing stiff competition from European airlines on the Europe-Asia route.

Latin American airlines saw demand contract in annual terms for the sixth consecutive month. FTKs in August 2016 fell by 3.3% compared to the same period last year and capacity decreased by 0.2%. The region continues to be blighted by weak economic and political conditions, particularly in the regions largest economy, Brazil.

African carriers saw demand rebound sharply in August to 3.7% - the fastest growth rate in 12 months. Despite this, freight capacity continues to outstrip demand, due to rapid long-haul expansion. Capacity surged in August year-on-year by 29.2%. The combination of rising capacity and modest growth has significantly affected the load factor of African airlines. In August 2016 it was almost six percentage points lower than a year ago and is around half the industry average.

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Board of RCI Industries & Technologies approves allotment of shares
Oct 06,2016

RCI Industries & Technologies announced that the Board of Directors of the Company at its meeting held on 06 October 2016 has considered and given its approval of allotment of 8 lakh equity shares of Rs 10 each at Rs 125 per share including share premium of Rs 115 per share.

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Govt Remains Committed to Curb Cheap Steel Imports, Anti-dumping Duty May Replace MIP
Oct 06,2016

The recent government action to extend the minimum import price (MIP) on 66 steel products by two months till 4 December 2016 shows the governments desire to extend protection for a longer time, says India Ratings and Research (Ind-Ra). Many of the 66 products are mostly subject to an anti-dumping investigation, which is likely to be completed over the next two months. Ind-Ra believes that once this is completed anti-dumping duty (ADD) is likely to be imposed on most of these products for an extended period.

Ind-Ra had highlighted the need for safeguards in June 2016 in the report Steel Production May Not Rise in FY17, In the Absence of MIP. Ind-Ra notes that in August 2016, GoI reduced the items under MIP to 66 from 173 and imposed an ADD on most of the excluded items, namely on hot rolled flat products and cold rolled flat products. The ADD is slightly less restrictive since they apply only to a specified country of origin; in this case the six named countries included, Peoples Republic of China, Japan, Korea RP, Russia, Brazil and Indonesia which account for around 90%-95% of hot rolled products imported into India. While a notification for cold rolled flat products originating or exported from Peoples Republic of China, Japan, Korea RP and Ukraine accounted for around 90% of imports.

During April-August 2016, Indias steel imports declined by 34.5% yoy to 3.01m tonne. Ind-Ra expects GoI to continue to protect domestic steel players from cheap imports. Over FY15-FY16, GoI took various quantitative and qualitative steps to curb the increase in imports into India, however it is only post the imposition of MIP on 5 February 2016, the domestic steel industry heaved a sigh of relief.

The scope of ADD is restricted to the originating countries named and is therefore narrower in scope than MIP, its impact however when applicable is the same as MIP. The ADD imposed on steel products are not fixed and will be calculated at a rate which is equivalent to the difference between the amount identified in the notification and the landed value of the goods covered under ADD, provided the landed value is less than the amount specified. This will protect the domestic steel industry from cheap imports, in the event the landed price of steel further declines and will have a similar impact as MIP. The key difference between MIP and ADD is that MIP is applicable on the import of goods from any country, whereas ADD is specific to goods imported from certain countries/producers as is notified.

Under General Agreement on Tariffs and Trade (GATT) ADD is a more acceptable protection measure provided against dumping of products. GATT provides member countries with the liberty to protect the domestic industry from external injuries; however it is against the restriction of fair trade. Thereby any member country can use ADD for the protection of their domestic industry, in the event that an investigation proves that dumping by other countries is injuring the domestic industry.

The absence of safeguard measures either in the form of MIP or ADD on value added flat rolled products of alloy or non-alloy steel, clad, plated or coated will lead to a surge in imports. As raw material for these value added products, mainly flat products, are already under ADD and therefore domestic producers will be compromised if the end product is allowed to be imported freely at cheaper prices internationally. Ind-Ra expects the protection for the steel industry in the form of ADD or MIP to continue even beyond December 2016.

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Caplin Point Laboratories fixes record date for sub-division of shares
Oct 06,2016

Caplin Point Laboratories announced that 20 October 2016 has been fixed as the n++RECORD DATEn++ for the purpose of ascertaining the eligible members who would be entitled to receive 5 (Five) equity shares of nominal face value of Rs. 2/- in lieu of 1 (One) existing equity snare of nominal face value of Rs. 10/- each of the Company.

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Shricon Industries appoints company secretary & compliance officer
Oct 06,2016

Shricon Industries announced that the Board of Directors of the Company at their meeting held on 05 October 2016 has appointed Renu Jain, Associate Member of the Institute of Company Secretaries of India as Company Secretary & Compliance Officer of the Company w.e.f. 05 October 2016.

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Board of P I Industries approves change in directorate
Oct 06,2016

P I Industries announced that the Board of Directors of the Company at its meeting held on 05 October 2016, has considered and approved the following business items:

1. Appointment of Arvind Singhal as an Additional Director on the Board of the Company.

2. Appointment of Narayan K. Seshadri, an Independent Director as Non-Executive Chairman on the Board of the Company.

3. Entering into an advisory contract with Salil Singhal as approved by the Audit Committee, subject to approval from the shareholders through postal ballot process.

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Caplin Point moves north after setting record date for stock split
Oct 06,2016

The announcement was made after market hours yesterday, 5 October 2016.

Meanwhile, the S&P BSE Sensex was up 94.33 points or 0.33% at 28,315.31.

On BSE, so far 775 shares were traded in the counter as against average daily volume of 3,507 shares in the past one quarter. The stock hit a high of Rs 1,405 and a low of Rs 1,384.10 so far during the day. The stock had hit a 52-week high of Rs 1,582 on 4 January 2016. The stock had hit a 52-week low of Rs 835.25 on 12 February 2016. The stock had outperformed the market over the past one month till 5 October 2016, advancing 12.21% compared with 1.09% fall in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 29.44% as against Sensexs 3.88% rise.

The small-cap company has equity capital of Rs 15.11 crore. Face value per share is Rs 10.

On a consolidated basis, Caplin Point Laboratories net profit rose 27.58% to Rs 16.14 crore on 21.31% growth in net sales to Rs 85.08 crore in the quarter ended 30 June 2016 over the quarter ended 30 June 2015.

Caplin Point Laboratories is a pharmaceutical company, catering predominantly to emerging markets of Latin America and Africa.

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NMDC gains after raising iron ore prices
Oct 06,2016

The announcement was made after market hours yesterday, 5 October 2016.

Meanwhile, the BSE Sensex was up 91.84 points, or 0.33%, to 28,312.82.

On BSE, so far 4.79 lakh shares were traded in the counter, compared with average daily volume of 3.41 lakh shares in the past one quarter. The stock hit a high of Rs 116.35 and a low of Rs 113.20 so far during the day. The stock hit a 52-week high of Rs 116.70 on 8 September 2016. The stock hit a 52-week low of Rs 75.20 on 12 February 2016. The stock had outperformed the market over the past 30 days till 5 October 2016, rising 4.16% compared with 2.61% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 16.46% as against Sensexs 3.75% rise.

The large-cap company has equity capital of Rs 396.47 crore. Face value per share is Re 1.

NMDC said it raised lump ore prices by 23.53% to Rs 2,100 per wet metric tonne (WMT) in October 2016 compared with Rs 1,700 per WMT in September 2016. Price of fines was raised by 20.55% to Rs 1,760 per WMT in October 2016 compared with Rs 1,460 per WMT in September 2016.

Net profit of NMDC declined 29.9% to Rs 711.34 crore on 4.7% decline in net sales to Rs 1720.65 crore in Q1 June 2016 over Q1 June 2015.

NMDC is Indias largest public sector iron ore producer. As per the shareholding pattern, Government of India (GoI) holds 80% stake in NMDC as on 30 June 2016.

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US stocks end higher for first time in three sessions
Oct 06,2016

U.S. stocks closed higher on Wednesday, 05 October 2016 by trading off session highs as they rebounded from losses of the past two sessions, fueled by rising oil prices. A resurgent services sector also helped to lift demand for equities and other assets perceived as risky. Wednesday marked the first finish in positive territory for the main U.S. stock-index benchmarks this week.

The Dow Jones Industrial Average finished up 112.58 points, or 0.6%, at 18,281.03, topped by more than 2% gains in both Caterpillar and Goldman Sachs Group. The Nasdaq Composite Index rose 26.36 points, or 0.5%, to end at 5,316.02. The S&P 500 index added 9.24 points, or 0.4%, to close at 2,159.73.

Seven sectors settled in the green with financials, energy, and materials leading the advance. The financials and energy sectors led the gainers, while telecom, utilities and real estate, weighed on the index.

Todays economic data included weekly MBA Mortgage Index, ADP Employment Report for September, August Trade Balance, Factory Orders for August, and ISM Services for September.

The MBA Mortgage Index indicated that mortgage applications rose 2.9% in the week ending October 1. This followed a 0.7% decline in the prior week.

The Trade balance report for August showed a widening in the deficit to $40.7 billion (consensus -$39.1 billion) from $39.5 billion in July. Factory orders increased 0.2% in August (consensus +0.1%) following a downwardly revised 1.4% increase (from 1.9%) in July. Total manufacturing shipments were unchanged after declining 0.4% in July. The ISM Non-Manufacturing PMI increased to 57.1 in September from 51.4 in August. September marked the highest reading for the index since October 2015.

Amid a flood of U.S. economic reports, Automatic Data Processing Inc. reported that private-sector employers added 154,000 jobs last month, down from 175,000 in August. ADPs jobs reading is considered an important indicator of labor-market health, though it is rarely predictive of the Labor Departments nonfarm-payrolls report, one of the most widely watched pieces of U.S. economic data. The governments September jobs report is due Friday morning.

Treasuries finished near their worst levels as yields rose through the curve. The yield on the 2-yr note increased one basis point (0.83%) while the yield on the benchmark 10-yr note rose two basis points (1.70%).

Todays participation was above the recent average as more than 962 million shares changed hands on the NYSE floor.

U.S.traded oil futures flirted with $50 a barrel for the first time since June, settling up 2.3% at $49.83 a barrel. Gold futures slipped, settling down 0.1% at $1,268.60 an ounce, as did a key dollar index after the ISM data.

Tomorrows economic data will be limited to September Challenger Job Cuts and weekly initial claims (consensus 258k), which will be released at 7:30 ET and 8:30 ET, respectively.

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Phillips Carbon Black gains after board OKs amalgamation of subsidiary
Oct 06,2016

The announcement was made after market hours yesterday, 5 October 2016.

Meanwhile, the BSE Sensex was up 86.46 points, or 0.31%, to 28,307.44.

On BSE, so far 1.03 lakh shares were traded in the counter, compared with average daily volume of 1.44 lakh shares in the past one quarter. The stock hit a high of Rs 281.90 and a low of Rs 275.35 so far during the day. The stock hit a 52-week high of Rs 281.90 on 6 October 2016. The stock hit a 52-week low of Rs 80.10 on 29 February 2016. The stock had outperformed the market over the past 30 days till 5 October 2016, rising 5.76% compared with 2.61% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 60.23% as against Sensexs 3.75% rise.

The small-cap company has equity capital of Rs 34.47 crore. Face value per share is Rs 10.

Phillips Carbon Black announced that its board approved scheme of amalgamation between Phillips Carbon Black and Goodluck Dealcom, a wholly-owned subsidiary of company.

The proposal is subject to satisfaction of various conditions, including obtaining necessary approvals from the shareholders and regulatory authorities including Securities and Exchange Board of India (Sebi), stock exchanges and sanction of scheme by the concerned High Courts and / or any other appropriate authority as be may necessary, the company said in a statement.

Net profit of Phillips Carbon Black rose 302.01% to Rs 12.02 crore on 10.3% decline in net sales to Rs 477.80 crore in Q1 June 2016 over Q1 June 2015.

Phillips Carbon Black is Indias largest and globally seventh largest carbon black producer. It provides a complete portfolio of products to meet the specific end requirements across rubber, plastics, coatings, inks and other niche industries globally.

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Yes Bank declines on reports of Sebis initial probe into banks QIP fiasco
Oct 06,2016

Meanwhile, the S&P BSE Sensex was up 90.54 points or 0.32% at 28,311.52.

On BSE, so far 1.81 lakh shares were traded in the counter as against average daily volume of 2.54 lakh shares in the past one quarter. The stock hit a high of Rs 1,268.70 and a low of Rs 1,229 so far during the day. The stock had hit a 52-week low of Rs 632.25 on 20 January 2016. The stock had hit a record high of Rs 1,450 on 7 September 2016. The stock had underperformed the market over the past one month till 5 October 2016, sliding 7.82% compared with 1.09% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 13.63% as against Sensexs 3.88% rise.

The large-cap bank has equity capital of Rs 421.66 crore. Face value per share is Rs 10.

According to reports, initial investigations by the stock market regulator Securities & Exchange Board of India (Sebi) found that Yes Bank had violated key norms of the listing obligations and disclosure rules (LODR) relating to misrepresentation of facts and adequate disclosure before it proceeded with the qualified institutional placement (QIP) last month. It may be recalled that Yes Bank had announced on 8 September 2016 its decision to defer the earlier planned QIP of shares citing extreme volatility during trading day on 8 September 2016 because of misinterpretation of new QIP guidelines. The bank had on 7 September 2016 announced opening of QIP of equity shares of face value Rs 10 each to raise up to $1 billion. Yes Bank had fixed Rs 1,371.84 per share as the floor price at that time.

Meanwhile, in its clarification issued to the stock exchanges during market hours today, 6 October 2016, Yes Bank said that as a matter of policy, it does not comment on such speculative stories.

Yes Banks net profit rose 32.8% to Rs 731.80 crore on 25.4% growth in total income to Rs 4762.83 crore in Q1 June 2016 over Q1 June 2015.

Yes Bank is one of the leading private sector banks in India.

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Festive mood uplift: Medium term outlook for Indian FMCG bright; to reach $ 104 bln by 2020: study
Oct 06,2016

In the midst of ringing cash registers on the back of festive sale, an ASSOCHAM-TechSci Research report has projected more than doubling of Indias market for the fast moving consumer goods to $104 billion by 2020 from the present level of $49 billion, growing at an impressive compounded annual growth rate of 20.6 per cent.

The optimism is based on steady economic growth, increasing share of organised retail, improving awareness about health and ethnic products being launched by the likes of Patanjali while a favourable demographic dividend is already given. n++It is certainly good news for giving a much-needed consumption boost to the economy, said ASSOCHAM Secretary General Mr D S Rawat.

Currently, India accounts for a share of just 0.68% of the Global FMCG market, this share is expected to increase significantly over the next 5 years mainly due to the macroeconomic factors such as improving demographics, rising disposable income, expansion of organised retail in tier II & III cities in India, changing consumer preferences etc, according to the study titled Indian FMCG Market 2020.

Major FMCG markets include USA, China, European Union, Japan etc. Globally, the FMCG sector is expected to grow at a CAGR of 4.4%, which when compared to India is a lot slower. Many foreign FMCG multinationals have established themselves in India.

Globally, the FMCG companies have now shifted their focus on E-commerce due to the increasing mobile internet penetration. Globally, the share of online sales of FMCG products accounted for around 5% in 2015, which is relatively higher than India where online FMCG sales accounted for a share of just 1-2% of the overall FMCG market in 2015.

The global economic growth has been decelerating as several large economies face decreasing economic growth, primarily China and the Eurozone, as well as a few key emerging markets like Brazil and Russia. This offers an advantage to India which has a significantly better economic condition.

Indian FMCG sector had a market size of USD43.08 billion in 2015. Well-established distribution networks, as well as intense competition between the organised and unorganised segments are the characteristics of this sector. The FMCG market in India is anticipated to grow at a significantly high CAGR during the forecast period and is expected to cross USD100 billion mark by 2020. FMCG in India has a strong distribution presence across the entire value chain.

The fast-moving consumer goods (FMCG) sector is an important contributor to Indias GDP growth. The sector includes food & dairy products, packaged food products, household products, drinks and others.

FMCG is the fourth largest sector in Indian economy and provides employment to around 3 million people accounting for approximately 5% of the total factory employment in India. The sector is characterized by strong presence of leading multinational companies, competition between organized and unorganized players, well established distribution network, and low operational cost.

The growth in the countrys FMCG sector is being fuelled by improving scenario in both demand as well as supply side. The major demand side drivers include growing affluence and appetite for consumption of the Indian consumer, growing youth population, rise in per capita expenditure, and increasing brand consciousness.

On the other hand, easier import of materials and technology, reduced barriers to entry of foreign players, and new product development, rapid real estate infrastructure development and improvement in supply chain efficiency are the major supply side drivers for the sector.

The growth of the FMCG sector, which primarily includes Food & beverages, personal care and household care has been driven in both the rural and urban segments. Rural consumption growth has outpaced urban consumption with the increase in percentage in monthly per capita expenditure in rural markets surpassing its urban counterparts over the past five years. Several government measures such as GST Bill, Food Security Bill and FDI in retail sector are expected to have a significant positive impact on the countrys FMCG sector in the coming years.

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Board of Sir Shadi Lal Enterprises appoints directors
Oct 06,2016

Sir Shadi Lal Enterprises announced that the Board of Directors of the Company at its meeting held on 26 September 2016 has appointed Lakshmi Kant Jhunjhunwala and Sidhart Prasad as Additional Directors.

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Saka to hold AGM
Oct 06,2016

Saka announced that the 34th Annual General Meeting(AGM) of the company on 26 September 2016.

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