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Kiri Inds gains as board to consider allotment of warrants to promoter group firm
Sep 27,2016

The announcement was made during market hours today, 27 September 2016.

Meanwhile, the S&P BSE Sensex was up 31.11 points or 0.11% at 28,325.39

On BSE, so far 65,000 shares were traded in the counter as against average daily volume of 1.43 lakh shares in the past one quarter. The stock hit a high of Rs 357.75 and a low of Rs 348 so far during the day. The stock had hit a 52-week high of Rs 404.75 on 1 July 2016. The stock had hit a 52-week low of Rs 72.10 on 11 February 2016. The stock had underperformed the market over the past 30 days till 26 September 2016, rising 1.65% compared with 1.84% rise in the Sensex. The scrip had also underperformed the market in past one quarter, declining 8.46% as against Sensexs 6.67% rise.

The small-cap company has equity capital of Rs 27.84 crore. Face value per share is Rs 10.

Kiri Industries said that a meeting of the board of directors of the company will be held on 4 October 2016, to allot 35 lakh warrants to Equinaire Chemtech LLP, a promoter group firm at Rs 363 per warrant on preferential basis.

On consolidated basis, Kiri Industries net profit rose 15.5% to Rs 80.99 crore on 51.17% rise in net sales to Rs 289.30 crore in Q1 June 2016 over Q1 June 2015.

Kiri Industries is one of the largest manufacturer and exporter of wide range of dyes, intermediates and chemicals.

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Marksans Pharma spurts 14% in two sessions
Sep 27,2016

Meanwhile, the BSE Sensex was up 26.13 points, or 0.09%, to 28,320.41.

On BSE, so far 29.25 lakh shares were traded in the counter, compared with average daily volume of 7.73 lakh shares in the past one quarter. The stock hit a high of Rs 55.55 and a low of Rs 53.15 so far during the day. The stock hit a 52-week high of Rs 113.80 on 28 December 2015. The stock hit a 52-week low of Rs 33.45 on 1 March 2016. The stock had outperformed the market over the past 30 days till 26 September 2016, rising 29.74% compared with 1.84% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 14.84% as against Sensexs 6.67% rise.

The small-cap company has equity capital of Rs 40.93 crore. Face value per share is Re 1.

Marksans Pharma announced during market hours yesterday, 26 September 2016, that US Food and Drug Administration (USFDA) has granted approval to the company for an Abbreviated New Drug Application (ANDA) for Loratadine liquid filled capsules 10 mg. Loratadine liquid filled capsules 10 mg is therapeutically equivalent to the reference listed drug Claritin Liqui-Gels Capsules 10 mg of Bayer Healthcare LLC. Loratadine is an antihistamine that reduces the effects of natural chemical histamine in the body. Loratadine is used to treat sneezing, runny nose, watery eyes, hives, skin rash, itching and other allergy symptoms.

Shares of Marksans Pharma spurted 10.76% to settle at Rs 53 yesterday, 26 September 2016. The stock has risen 14% in two sessions from its close of Rs 47.85 on Friday, 23 September 2016.

Marksans Pharmas consolidated net profit fell 96.76% to Rs 1.02 crore on 11.14% fall in net sales to Rs 186.75 crore in Q1 June 2016 over Q1 June 2015.

Marksans Pharma is engaged in research, manufacturing and marketing of generic pharmaceutical formulation in the global market.

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Strong case to cut policy rates in India, top manufacturing countries placed far better in costs of credit: PHD Chamber
Sep 27,2016

Status quo maintained by US FED creates lot of scope for repo rate cut as our cost of borrowings are significantly high as compared with our manufacturing peers and other competitive economies, said Dr. Mahesh Gupta, President, PHD Chamber of Commerce and Industry.

While welcoming the US Fed decision to keep policy rates unchanged, Dr. Mahesh Gupta said that though USA has significantly recovered from the recession, low policy rate regime should continue till the growth becomes strong and sustainable, he said.

At this juncture, Indias economy should be supported by lower interest rates to enhance the demand for durables and to boost up the manufacturing sector as domestic inflation for August has come down to 5.05 percent and IIP has dipped drastically to (-) 2.4 for the month of July 2016, said Dr. Gupta.

Cost of credit to businesses is high as compared with many competitive economies, impacting not only domestic competitiveness but also comparative advantage in the international markets, he said.

Indias repo rate at 6.5% is significantly higher as compared with the worlds 5 largest manufacturing countries including China (4.35%), United States of America (0.5%), Japan (-.1%), Germany (0) and Republic of Korea (1.25%).

Other competitive economies such as Thailand (1.5%), Hong Kong (0.75%), Malaysia (3%), Singapore (0.37%), Taiwan (1.38%) are significantly better than India in the costs of credit.

Going ahead, we expect a significant cut in repo rate to facilitate the competitiveness of the manufacturing sector to compete in the international market, said Dr. Mahesh Gupta.

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Trade in 2016 to grow at slowest pace since the financial crisis: WTO
Sep 27,2016

World trade will grow more slowly than expected in 2016, expanding by just 1.7%, well below the April forecast of 2.8%, according to the latest WTO estimates. The forecast for 2017 has also been revised, with trade now expected to grow between 1.8% and 3.1%, down from 3.6% previously. With expected global GDP growth of 2.2% in 2016, this year would mark the slowest pace of trade and output growth since the financial crisis of 2009.

The downgrade follows a sharper than expected decline in merchandise trade volumes in the first quarter (-1.1% quarter-on-quarter, as measured by the average of seasonally-adjusted exports and imports) and a smaller than anticipated rebound in the second quarter (+0.3%). The contraction was driven by slowing GDP and trade growth in developing economies such as China and Brazil but also in North America, which had the strongest import growth of any region in 2014-15 but has decelerated since then.

WTO Director-General Roberto Azevn++do said: The dramatic slowing of trade growth is serious and should serve as a wake-up call. It is particularly concerning in the context of growing anti-globalization sentiment. We need to make sure that this does not translate into misguided policies that could make the situation much worse, not only from the perspective of trade but also for job creation and economic growth and development which are so closely linked to an open trading system.

While the benefits of trade are clear, it is also clear that they need to be shared more widely. We should seek to build a more inclusive trading system that goes further to support poorer countries to take part and benefit, as well as entrepreneurs, small companies, and marginalized groups in all economies. This is a moment to heed the lessons of history and re-commit to openness in trade, which can help to spur economic growth.

The latest figures are a disappointing development and underline a recent weakening in the relationship between trade and GDP growth. Over the long term trade has typically grown at 1.5 times faster than GDP, though in the 1990s world merchandise trade volume grew about twice as fast as world real GDP at market exchange rates. In recent years however, the ratio has slipped towards 1:1, below both the peak of the 1990s and the long-term average.

If the revised projection holds, 2016 will be the first time in 15 years that the ratio between trade growth and world GDP has fallen below 1:1. Historically strong trade growth has been a sign of strong economic growth, as trade has provided a way for developing and emerging economies to grow quickly, and strong import growth has been associated with faster growth in developed countries. However the increase of the number of systematically important trading countries and the shift in the ratio of trade and GDP growth makes it more difficult to forecast future trade growth. Therefore, the WTO is for the first time providing a range of scenarios for its 2017 trade forecast rather than giving specific figures. The current trend in the relationship between trade growth and world GDP is lower than observed over the last three decades.

Since the WTOs April 2016 forecast was issued, some important downside risks have materialized, most notably a period of financial turbulence that affected China and other developing market economies early in the year, but which has since eased.

Import demand of developing economies fell 3.2% in Q1 before staging a partial recovery of 1.5% in Q2. Meanwhile, developed economies recorded positive import growth of 0.8% in Q1 and negative growth of -0.8% in Q2. Overall, world imports stagnated in the first half of 2016, falling 1.0% in Q1 and rising 0.2% in Q2. This translated into weak demand for exports of both developed and developing economies. For the year-to-date, world trade has been essentially flat, with the average of exports and imports in Q1 and Q2 declining 0.3% relative to last year.

These results are largely in line with the signals given by the WTOs World Trade Outlook Indicator (WTOI), a new tool launched in July to provide n++real timen++ information on trends in global trade. At that time the WTOI indicated that world merchandise trade might rebound in Q2 but would likely remain below trend.

The stagnation of world merchandise trade disguises strong shifts at the regional level. There is steep decline in imports of resource-exporting regions over the last two years, driven by falling commodity prices and declining export revenues. South America and Other regions (comprising Africa, the Middle East and the Commonwealth of Independent States) arrested their declines in Q2 of 2016 while imports of North America and Europe both dipped in the latest quarter. Meanwhile, Asian imports declined by 3.4% in Q1 against a backdrop of concerns about slowing growth in China, before rebounding to 1.3% growth in Q2 as these concerns eased. The 3.3% decline in Asian exports in Q1 mirrored the drop in Asia on the import side, but this was mostly reversed by a 3.2% rise in exports in Q2.

There are some indications that trade may be picking up in the second half of 2016, although the pace of expansion is likely to remain subdued. Container port throughput has increased, export orders have risen in the United States, and nominal trade flows in US dollar terms have stabilized, but numerous risks remain.

The outlook for the remainder of this year and next year is affected by a number of uncertainties, including financial volatility stemming from changes in monetary policy in developed countries, the possibility that growing anti-trade rhetoric will increasingly be reflected in trade policy, and the potential effects of the Brexit vote in the United Kingdom, which has increased uncertainty about future trading arrangements in Europe, a region where trade growth has been relatively strong.

The UK referendum result did not produce an immediately observable downturn in economic activity as measured by industrial production or employment; the main impact was a 13% drop in the exchange rate of the pound against the US dollar and an 11% decline in its value against the euro. Effects over the longer term remain to be seen. Economic forecasts for the UK in 2017 range from fairly optimistic to quite pessimistic. The forecast assumes an intermediate case, with a growth slowdown next year but not an outright recession.

According to latest estimates, world merchandise trade volume will grow more slowly than world GDP at market exchange rates in 2016 (1.7% compared to 2.2%)

Exports of developed countries are expected to outpace those of developing economies this year, 2.1% compared to 1.2%. On the import side, developing countries are expected to register sluggish growth of 0.4% compared to 2.6% for developed countries.

The biggest downward revision to imports from April forecast for 2016 applies to South America (-8.3% compared to -4.5% previously) as the recession in Brazil intensified. This was followed by North America, where import growth was revised down from 4.1% to 1.9% as GDP growth came in below earlier projections. Asian import growth was also scaled back to 1.6% from 3.2%, while forecast for Europe was revised upward from 3.2% to 3.7%.

Export growth in 2016 was downgraded for most regions, with the strongest revisions applied to Asia (0.3% compared to 3.4% in April) and North America (0.7% compared to 3.1%). Meanwhile, South Americas export growth is expected to be stronger than previously forecast (4.4% compared 1.9%), benefitting from favourable exchange rate movements. Even with the downward revision to estimates, risks to the forecast remain mostly on the downside.

A range of estimates have been provided for 2017 to reflect the increasingly uncertain relationship between trade and output growth. World trade growth could be as high as 3.1% next year if it regains some of its earlier dynamism. However, it could also be as low

Melstar Information Technologies announces change in compliance officer
Sep 27,2016

Melstar Information Technologies announced that with the cessation of employment of Vijaykumar H Modi, he ceased as Company Secretary & Compliance Officer with the close of the business hours on 26 September 2016.

Anil Korpe present Chief Financial Officer shall be compliance officer till further notice.

Vijaykumar H Modi has been appointed as Non Executive & Independent Director w.e.f. 27 September 2016.

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Adlabs Entertainment corrects on profit booking
Sep 27,2016

Meanwhile, the BSE Sensex was up 85.50 points, or 0.30%, to 28,379.78.

On BSE, so far 4.78 lakh shares were traded in the counter, compared with average daily volume of 1.35 lakh shares in the past one quarter. The stock hit a high of Rs 112.80 and a low of Rs 106.10 so far during the day. The stock hit a 52-week high of Rs 145.40 on 31 December 2015. The stock hit a record low of Rs 68 on 29 February 2016. The stock had outperformed the market over the past 30 days till 26 September 2016, rising 43.57% compared with 1.84% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 48.22% as against Sensexs 6.67% rise.

The small-cap company has equity capital of Rs 79.90 crore. Face value per share is Rs 10.

Shares of Adlabs Entertainment rose 45.71% in four trading sessions to settle at Rs 112.20 yesterday, 26 September 2016, from its close of Rs 77 on 20 September 2016.

Adlabs Entertainment reported net loss of Rs 19.23 crore in Q1 June 2016, higher than net loss of Rs 15.52 crore in Q1 June 2015. Net sales rose 7.3% to Rs 83.10 crore in Q1 June 2016 over Q1 June 2015.

Adlabs Entertainment operates the Imagica theme park located at Khalapur, off the Mumbai-Pune express highway.

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Ceiling prices of 464 formulation fixed after announcement of NLEM, 2015 and Revised Schedule-I, resulting in savings of Rs 2288 crore for consumers
Sep 27,2016

Ceiling prices of 464 formulation (amounting to nearly 7000 different stock keeping units) have been fixed by the government after the announcement of National List of Essential Medicines (NLEM), 2015 and Revised Schedule-I. This has resulted in effective savings to the consumers of the country Rs. 2288 Crore by way of reduced prices.

A section of the media had recently published a news item, stating that prices of 100 drugs may increase by 10% as they are now out of essentials list. The news item is misleading and is not in tune with the factual position.

The correct factual position is as under: -

Consequent to notification of National Pharmaceuticals Pricing Policy-2012 (NPPP-2012) on 7.12.2012 and notification of Drugs (Price Control) Order, 2013 (DPCO, 2013), all the medicines as specified in the NLEM-2011 were brought under price control. Ministry of Health and Family Welfare constituted a Core-Committee to revise the NLEM under the Chairmanship of Secretary, Department of Health Research and Dr. Y K Gupta, Professor and Head, Department of Pharmacology, AIIMS as the Vice Chairman. This Committee evaluated the medicines on the objective criteria for inclusion and deletion.

The criteria for deletion of medicines from National List of Essential Medicines is as follows:-

n++ The medicine has been banned in India.

n++ There are reports of concerns on the safety profile of a medicine.

n++ A medicine with better efficacy or favourable safety profiles and better cost-effective is now available.

n++ The disease burden for which a medicine is indicated is no longer a national health concern in India.

n++ In case of antimicrobials, if the resistance pattern has rendered a medicine ineffective in Indian context.

Based on the scientific criteria, Core Committee recommended inclusion of 106 medicines and deletion of 70 medicines from the earlier NLEM, 2011. The Pharmaceutical Pricing Policy entails the price control of only schedule-1 medicines which are included in the NLEM. The medicines, which ceased to be part of NLEM, 2015 and Schedule-1, will only be monitored as non-scheduled medicines. Non-scheduled medicines are allowed an increase of upto 10% in the prices every year, which is monitored by the National Pharmaceutical Pricing Authority (NPPA).

In the detailed analysis of the number of medicines deleted and added in the Schedule-1, therapeutic category-wise in the revised NLEM, 2015, (indicated in Annexures) shows that there are sufficient number of medicines in each of the categories. These scheduled medicines represent a wide range of medicines for different therapeutic groups and will help in promoting medicines with better efficiency and favourable safety profiles, which are now under price control due to their inclusion in NLEM, which is in the public interest.

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MCX spurts after raising transaction fee
Sep 27,2016

The company made the announcement ysterday, 26 September 2016.

Meanwhile, the BSE Sensex was up 98.71 points, or 0.35%, to 28,392.99.

On BSE, so far 3.93 lakh shares were traded in the counter, compared with average daily volume of 49,502 shares in the past one quarter. The stock hit a high of Rs 1,181.35 so far during the day, which is also a 52-week high for the counter. The stock hit a low of Rs 1,075 so far during the day. The stock hit a 52-week low of Rs 726 on 12 February 2016. The stock had outperformed the market over the past 30 days till 26 September 2016, rising 8.76% compared with 1.84% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 7.18% as against Sensexs 6.67% rise.

The mid-cap commodity exchange has equity capital of Rs 51 crore. Face value per share is Rs 10.

For trading in non-agricultural commodities, Multi Commodity Exchange of India (MCX) has increased the transaction fee to Rs 2.60 for every Rs 1 lakh turnover for members generating a monthly average daily turnover of up to Rs 350 crore. Incremental turnover above Rs 350 crore would attract a charge of Rs 1.75 per lakh. In the case of agriculturural commodities, MCX has increased the transaction charges to Rs 1.75 for every Rs 1 lakh turnover.

The transaction fee shall be debited on a monthly basis to the settlement account of the members in the first week of the succeeding month. The above said transaction fee structure will be effective for trades executed from 1 October 2016 onwards and will be valid till further notice.

Earlier on 26 February 2014, MCX had slashed transaction charges. MCX charged 75 paise for every Rs 1 lakh turnover for members generating a monthly average daily turnover of up to Rs 20 crore for trading in agricultural commodities. Incremental turnover above Rs 20 crore attracted a charge of 50 paise per lakh. In the case of non-agriculturural commodities, MCX charged Rs 2.10 for every Rs 1 lakh turnover, for members generating average daily turnover of up to Rs 350 crore, and Rs 1.40 per lakh on incremental turnover above Rs 350 crore.

MCXs net profit rose 54.5% to Rs 32.81 crore on 12.5% rise in net sales to Rs 58.23 crore in Q1 June 2016 over Q1 June 2015.

MCX is Indias first listed, national-level, electronic, commodity futures exchange with permanent recognition from the Government of India.

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To facilitate declarants, counters for receiving declarations under Income Declaration Scheme 2016 to remain functional till 12:00 midnight on 30 Sep
Sep 27,2016

In order to facilitate the declarants who would like to file the declaration in paper form under the Income Declaration Scheme, 2016, the Central Board of Direct Taxes (CBDT) has issued instructions to all Principal Chief Commissioners of Income Tax across India to ensure that arrangements are made for receiving such declarations till midnight of 30-09-2016.

Declarations can also be made online as well as in printed copies of the prescribed form upto midnight on 30th September, 2016.

Accordingly, the counters for receiving declarations under the Income Declaration Scheme - 2016 shall be functional till 12:00 midnight on 30th September, 2016.

The Income Declaration Scheme, 2016 came into effect from 1st June, 2016. It provides an opportunity to persons who have not paid full taxes in the past to come forward and declare their undisclosed income and assets.

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Maithan Alloys drops after intimating about damage at Visakhapatnam plant
Sep 27,2016

The announcement was made after market hours yesterday, 26 September 2016.

Meanwhile, the S&P BSE Sensex was up 84.62 points, or 0.3% to 28,378.90

On BSE, so far 22,000 shares were traded in the counter as against an average daily volume of 21,749 shares in the past one quarter. The stock hit a high of Rs 250.50 and a low of Rs 210.20 so far during the day. The stock had hit a 52-week high of Rs 434.50 on 8 August 2016. The stock hit 52-week low of Rs 77 on 1 October 2015. The stock had underperformed the market over the past 30 days till 26 September 2016, falling 11.43% compared with 1.84% rise in the Sensex. The scrip had also underperformed the market in past one quarter, declining 1.29% as against Sensexs 6.67% rise.

The small-cap company has equity capital is Rs 29.11 crore. Face value per share is Rs 10.

Maithan Alloys said that due to heavy rains and flood, there has been severe damage to 132 kilovolt (KV) power transformer and other electrical equipment installed at the companys Visakhapatnam plant. The full damage is yet to be ascertained, Maithan Alloys said. The transformer and other electrical equipment are fully insured, the company said. The production at the plant could be significantly affected over the next few months, it added.

Maithan Alloys net profit rose 132.57% to Rs 18.28 crore on 36.14% growth in net sales to Rs 251.77 crore in Q1 June 2016 over Q1 June 2015.

Maithan Alloys operates in the niche value-added manganese alloy segment.

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Adhbhut Infrastructure to hold AGM
Sep 27,2016

Adhbhut Infrastructure announced that the 31th Annual General Meeting(AGM) of the company on 26 September 2016.

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Alliance Integrated Metaliks to hold AGM
Sep 27,2016

Alliance Integrated Metaliks announced that the 27th Annual General Meeting(AGM) of the company on 26 September 2016.

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South Indian Bank to hold board meeting
Sep 27,2016

South Indian Bank will hold a meeting of the Board of Directors of the Company on 7 October 2016 to consider, approve and take on record the unaudited Financial Results of the Bank for the quarter ending September 30, 2016 (Q2).

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Wipro to hold board meeting
Sep 27,2016

Wipro will hold a meeting of the Board of Directors of the Company on 21 October 2016.

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Indoco Remedies slides on reports of getting six USFDA observations for Goa Plants
Sep 27,2016

Meanwhile, the BSE Sensex was up 74.40 points, or 0.26%, to 28,368.68.

On BSE, so far 43,000 shares were traded in the counter, compared with average daily volume of 9,498 shares in the past one quarter. The stock hit a high of Rs 328 and a low of Rs 312.40 so far during the day. The stock hit a 52-week high of Rs 360.35 on 7 September 2016. The stock hit a 52-week low of Rs 244 on 25 February 2016. The stock had outperformed the market over the past 30 days till 26 September 2016, rising 10.76% compared with 1.84% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 26.18% as against Sensexs 6.67% rise.

The mid-cap company has equity capital of Rs 18.43 crore. Face value per share is Rs 2.

According to reports, Indoco Remedies Goa Plant II and III were inspected by US Food and Drug Administration (USFDA) from 31 August 2016 to 4 September 2016. Six observations cover quality, production systems, facilities and equipment, and customer complaints.

The companys Goa Plant II is a sterile facility for ophthalmics and injectables approved by USFDA for ophthalmic preparations. The companys Goa Plant III has a capability to manufacture aqueous, non-aqueous and photo sensitive products.

Reports added that the companys Goa Plant II is important as most ophthalmic Abbreviated New Drug Applications (ANDAs) are filed from here.

Indoco Remedies net profit declined 4.9% to Rs 19.79 crore on 15.8% rise in net sales to Rs 252.72 crore in Q1 June 2016 over Q1 June 2015.

Indoco Remedies is a fully integrated, research-oriented pharma vompany with presence in 55 countries.

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