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Nalco in spotlight after securing bauxite mining lease in Odisha
Jul 14,2016

National Aluminium Company (Nalco) after market hours yesterday, 13 July 2016 announced that it has been granted Pottangi Bauxite mines in Koraput district of Odisha, where the companys 22.75 lakh tonne alumina refinery is located. As per a recent order issued by the state government of Odisha, Nalco has been granted the mining lease of Pottangi with an area covering 1,738 hectares for a period of 50 years. Nalcos expansion plans, including the proposed addition of fifth stream in its existing alumina refinery at an investment of Rs 5600 crore, greatly depended on this additional source of bauxite, the company said in a statement.

Mahindra & Mahindra (M&M) announced the incorporation of subsidiary company in the name of Merakisan to carry on the business of procuring and marketing agricultural produce including fruits and vegetables. Merakisan was incorporated as a wholly owned subsidiary of Mahindra Univeg (MUPL) which is a step-down subsidiary of M&M. The announcement was made after market hours yesterday, 13 July 2016.

MindTree announced after market hours yesterday, 13 July 2016 that it has launched Decision Moments, the first data analytics platform that applies continuous learning algorithms to large data pools, allowing businesses to generate meaningful and compelling insights that improve over time.

TCS, Cyient, Canfin Homes, Vimta Labs among others are scheduled to announce their quarterly results today, 14 July 2016.

NBCC (India) will be in focus after the Cabinet Committee on Economic Affairs approved disinvestment of 15% paid up equity of the company out of Government of Indias (GoI) 90% shareholding. The announcement was made after trading hours yesterday, 13 July 2016. The NBCC (India) stock slumped 10.72% to settle at Rs 229.80 yesterday, 13 July 2016, as investors awaited details regarding the quantum of the stake sale after media reports suggested that the government had approved divestment in the state-run firm. The divestment of stake will be carried out through the offer for sale (OFS) route via the stock exchanges mechanism. In order to inculcate a sense of belongingness amongst the employees of NBCC, GoI has decided to allot additional shares to the eligible and willing employees of the company at a discount of 5% to the issue/discovered (lowest cut off) price of the OFS. NBCC (India) is engaged in construction, engineering and project management consultancy services.

Shares of another state-run firm ITI will be in focus after the Cabinet Committee on Economic Affairs approved the proposal of Department of Telecommunication regarding transfer of shares by ITI to Special National Investment Fund (SNIF) to meet Securities and Exchange Board of Indias (Sebi) minimum public shareholding requirement. ITI will be allowed to transfer the requisite number of shares from President of India to SNIF as and when capital grant is released in the form of equity infusion to ITI as part of revival plan approved by the Cabinet in February 2014 so as to adhere to Sebis minimum 10% public shareholding requirement. ITI will be allowed to meet Sebis requirement of minimum 25% public shareholding by August 2017. The announcement was made after trading hours yesterday, 13 July 2016. ITI offers a complete range of telecom products and total solutions covering the whole spectrum of switching, transmission and access and subscriber premises equipment. Shares of ITI surged 18.78% to settle at Rs 34.15 yesterday, 13 July 2016, on reports that the government had cleared sale of assets in ITI. However, there was no such announcement from the government after the conclusion of the meeting of the Cabinet Committee on Economic Affairs.

Atul turns ex-dividend today, 14 July 2016, for dividend of Rs 10 per share for the year ended 31 March 2016 (FY 2016).

Bajaj Auto turns ex-dividend today, 14 July 2016, for final dividend of Rs 5 per share for the year ended 31 March 2016 (FY 2016).

Bajaj Holdings & Investment turns ex-dividend today, 14 July 2016, for final dividend of Rs 7.50 per share for the year ended 31 March 2016 (FY 2016).

Bajaj Finance turns ex-dividend today, 14 July 2016, for final dividend of Rs 7 per share for the year ended 31 March 2016 (FY 2016).

Kotak Mahindra Bank turns ex-dividend today, 14 July 2016, for dividend of Rs 0.50 per share for the year ended 31 March 2016 (FY 2016).

Eveready Industries turns ex-dividend today, 14 July 2016, for dividend of Rs 1 per share for the year ended 31 March 2016 (FY 2016).

Jyothy Laboratories turns ex-dividend today, 14 July 2016, for final dividend of Rs 1 per share for the year ended 31 March 2016 (FY 2016).

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Jubilant FoodWorks in focus after launch of BurgerPizza
Jul 13,2016

Jubilant FoodWorks before market hours today, 13 July 2016, announced a significant new innovation for the Indian market - the BurgerPizza. The new BurgerPizza is an exciting innovation from Dominos and is a result of the companys focus on innovation and growth, Jubilant FoodWorks said. With BurgerPizza, the company aims to grow its share in the all day, individual consumption occasion and further grow its share of the chained Indian Food Service Industry that is pegged to grow three-fold to Rs 25000 crore within five years, the company said. Starting at Rs 89, the BurgerPizza range is available in two vegetarian and two non-vegetarian variants at the 100 plus Dominos Pizza restaurants across India, Jubilant FoodWorks said. The BurgerPizza is also available for ordering on the Dominos online ordering website and the Dominos Pizza mobile app, the company said.

Tata Motors announced that a duly constituted committee of the board of directors of the company will meet on 15 July 2016, for issuing rated, listed, unsecured, redeemable, non-convertible debentures (NCDs) aggregating to Rs 400 crore. This issuance is pursuant to the approval of the shareholders on 13 August 2015 and the board of directors resolution passed at its meeting held on 30 March 2016. The announcement was made after market hours yesterday, 12 July 2016.

Sun Pharmaceutical Industries (Sun Pharma) announced before market hours today, 13 July 2016 that effective August 2016, Abhay Gandhi currently CEO - India and Sub-continent business will take over as CEO - North America business of Sun Pharma subject to necessary approvals and will be based in USA. In his new role, Abhay Gandhi will spear-head the growth of Sun Pharmas business in North America, the company said in a statement. Additionally, effective January 2017, Kal Sundaram, currently CEO - North America business will assume the position of CEO - India Business & Emerging Markets, subject to necessary approvals. He will be based in Mumbai. Backed by his rich experience, growth mind-set and visionary qualities Kal will lead Sun Pharmas growth agenda for India and Emerging Markets business, the company said in a statement.

Great Eastern Shipping Company (GE Shipping) announced after market hours yesterday, 12 July 2016 that it has signed a contract to buy a medium range product tanker of about 48,539 dwt. The 2005 Japanese built vessel is expected to join the companys fleet in Q2 September 2016, GE Shipping said.

Cupid, Network18 Media Investments, Reliance Industrial Infrastructure and TV18 Broadcast will announce their quarterly results today, 13 July 2016.

Andhra Bank turns ex-dividend today, 13 July 2016 for dividend of Rs 0.50 per share for the year ended 31 March 2016 (FY 2016).

Ashok Leyland turns ex-dividend today, 13 July 2016 for dividend of Rs 0.95 per share for the year ended 31 March 2016 (FY 2016).

R S Software (India) turns ex-dividend today, 13 July 2016 for dividend of Rs 1 per share for the year ended 31 March 2016 (FY 2016).

Philips Carbon Black turns ex-dividend today, 13 July 2016 for dividend of Rs 2.50 per share for the year ended 31 March 2016 (FY 2016).

Hatsun Agro Product turns ex-bonus today, 13 July 2016 for bonus issue of 2 shares for every 5 shares held.

BPCL turns ex-bonus today, 13 July 2016 for 1:1 bonus issue.

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Coal India in spotlight as board approves share buyback
Jul 12,2016

Coal India announced that its board of directors at a meeting held yesterday, 11 July 2016, approved the buyback of equity shares not exceeding 10.89 crore shares of the company, from all the shareholders holding equity shares of the company as on record date on a proportionate basis through the tender offer route at a price of Rs 335 per share payable in cash for an aggregate consideration not exceeding Rs 3650 crore which is not exceeding 25% of the aggregate fully paid up share capital and free reserves of the company as per audited accounts of the company for the financial year ended 31 March 2016. The announcement was made after market hours yesterday, 11 July 2016.

Tata Power Company announced that its board of directors at a meeting held yesterday, 11 July 2016, approved issuance in one or more tranches, of non-cumulative, redeemable, taxable, listed, rated securities in the form of non-convertible debentures upto an aggregate amount not exceeding Rs 3500 crore and for tenor not exceeding 3 years (debentures) from the date of issue on private placement basis to any persons, entities, bodies corporate, companies, banks, financial institutions and any other categories of eligible investors permitted to invest in the debentures under applicable laws. The announcement was made after market hours yesterday, 11 July 2016.

Quess Corp makes its debut on the secondary equity markets today, 12 July 2016. The company had priced its initial public offer (IPO) at Rs 317 per share -- the top end of the Rs 310 to Rs 317 per share price band for the issue. The IPO had received strong response from investors. The proceeds from the IPO will be used for funding expansion of business, potential acquisition opportunities, for repayment of loan from the Bank of Nova Scotia and for meeting working capital requirements. Quess Corp provides comprehensive solutions including recruitment, temporary staffing, technology staffing, IT products and solutions, skill development, payroll, compliance management, integrated facility management and industrial asset management services.

Based on consolidated financial performance, Quess Corp registered net profit of Rs 88.52 crore on revenue from operations of Rs 3435.01 crore for the year ended 31 March 2016.

HDFC announced after market hours yesterday, 11 July 2016 that it will issue its first unrated synthetic rupee denominated Notes aggregating Rs 2000 crore with an option to retain oversubscription of upto Rs 1000 crore. The bonds will bear a fixed coupon and will have a tenor of 3 years and 1 month. The company proposes to list the Notes on the London Stock Exchange. Pricing will take place on or before 15 July 2016, subject to market conditions. The settlement shall be in the next week.

IL&FS Investment Managers announced that its board of directors at a meeting held yesterday, 11 July 2016, decided to subscribe to 2 lakh equity shares issued by IIML Asset Advisors (IAAL), its wholly owned subsidiary. The shares will be subscribed at a price of Rs 190 per share for a total consideration of Rs 3.80 crore. The announcement was made after market hours yesterday, 11 July 2016.

Shriram EPC announced that its board of directors at a meeting held yesterday, 11 July 2016, transacted conversion of the working capital term loan of the corporate debt restructuring (CDR) lenders into equity shares of the company to the maximum extent of Rs 1280 crore, subject to the shareholders and other regulatory approvals, at a price to be determined as per regulations. The board also transacted preferential issue to the holding company - SVL (erstwhile Shriram Industrial Holdings) of Rs 265 crore subject to shareholders and other regulatory approvals, at a price to be determined as per regulations. The announcement was made after market hours yesterday, 11 July 2016.

Bharat Seats turns ex-dividend today, 12 July 2016, for dividend of Rs 0.90 per share for the year ended 31 March 2016 (FY 2016).

Karur Vysya Bank turns ex-dividend today, 12 July 2016, for final dividend of Rs 4 per share for the year ended 31 March 2016 (FY 2016).

Shreyas Shipping Logistics turns ex-dividend today, 12 July 2016, for dividend of Rs 1.30 per share for the year ended 31 March 2016 (FY 2016).

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IndusInd Bank in spotlight ahead of Q1 results
Jul 11,2016

Shares of IndusInd Bank will be in spotlight as the bank is scheduled to announce its Q1 June 2016 earnings today, 11 July 2016.

Shares of Punjab National Bank (PNB) will be in focus after the Reserve Bank of India (RBI) notified on Friday, 8 July 2016 that the aggregate foreign share holding by Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs)/Non Resident Indian (NRI)/Persons of Indian Origin (PIO)/Foreign Direct Investment (FDI)/American Depository Receipts (ADR)/Global Depository Receipts (GDR) under Portfolio Investment Scheme (PIS) in PNB has gone below the prescribed threshold caution limit stipulated under the extant FDI policy. Hence, the restrictions placed on the purchase of shares of PNB are withdrawn with immediate effect.

IT stocks may edge lower on media reports that a bipartisan group of two US lawmakers has introduced in the House of Representatives a legislation, which if passed by the Congress would prevent Indian companies from hiring IT professionals on H-1B and L1 work visas. US is the biggest outsourcing market for Indian IT firms. The revenue model of many large-cap Indian IT companies is heavily dependent on H-1B and L1 visas in the US.

The H-1B is a non-immigrant visa in the United States which allows US employers to temporarily employ foreign workers in specialty occupations. The US L1 visa is a non-immigrant visa which allows companies operating both in the US and abroad to transfer certain classes of employee from its foreign operations to the US operations for up to seven years.

Bharti Airtel yesterday, 10 July 2016 announced that the transaction for acquisition of rights to use 20 MHz 2300 Band 4G TD spectrum from Aircel was successfully concluded for 6 out of 8 circles barring Andhra Pradesh and Orissa, following the receipt of all necessary approvals and satisfying all the conditions. Bharti Airtel said it will update the exchanges when the transactions for the remaining circles of Andhra Pradesh and Orissa are completed.

Tata Steel after trading hours on Friday, 8 July 2016, announced that it has entered into discussions with strategic players in the steel industry, including Thyssenkrupp AG for a strategic collaboration for its European businesses. The decision has been taken as an alternative to the ongoing process for the divestment of loss making Tata Steel UK. Tata Steel said that the discussions for strategic collaboration are currently at preliminary stage and there is no certainty of a transaction as the outcome depends on consultation and negotiations with various stakeholders. Tata Steel also said it would begin separate processes for the sale of its South Yorkshire specialty steels business and the Hartlepool pipe mills, excluding the 20-inch tube mill, in the UK. Tata Steel has already received interest from several bidders for these two businesses and the formal process for the sale of the businesses will commence shortly.

Shares of engineering and construction major L&T will be in focus as the companys subsidiary and IT outsourcing services provider Larsen & Toubro Infotech known as L&T Infotechs initial public offer (IPO) commences today, 11 July 2016. L&T Infotechs promoter L&T is selling a part of its stake through the IPO of L&T Infotech. L&T Infotech will not get any funds from the IPO and the entire sale proceeds will go to parent L&T. L&T is selling 1.75 crore shares of L&T Infotech through the IPO. The price band for the IPO has been fixed at Rs 705-710 per share. The IPO opens for bidding today, 11 July 2016 and closes on Wednesday, 13 July 2016.

Shares of Axis Bank, ITC and L&T will be in focus as media reports suggested that the central government has finally made up its mind to sell minority stakes held in many listed and unlisted companies through the Specified Undertaking of the Unit Trust of India (SUUTI), in a bid to meet its asset-sale target. The government invited bids from bankers for the mandate to manage the stake-sale process, reports suggested.

SUUTI held 11.53% stake in Axis Bank, 11.14% in ITC and 8.15% stake in L&T as per the shareholding pattern as on 31 March 2016.

Shares of Wipro turn ex-dividend today, 11 July 2016, for final dividend of Rs 1 per share for the year ended 31 March 2016.

Shares of JSW Energy turn ex-dividend today, 11 July 2016, dividend of Rs 2 per share for the year ended 31 March 2016.

Shares of GHCL turn ex-dividend today, 11 July 2016, for dividend of Rs 3.50 per share for the year ended 31 March 2016.

Shares of Exide Industries turn ex-dividend today, 11 July 2016, for final dividend of Rs 0.80 per share for the year ended 31 March 2016.

Shares of Jammu & Kashmir Bank turn ex-dividend today, 11 July 2016, for dividend of Rs 1.75 per share for the year ended 31 March 2016.

Shares of Onward Technologies turn ex-dividend today, 11 July 2016, for final dividend of Rs 1 per share for the year ended 31 March 2016.

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RIL will be watched after Reliance Jio raises funds by issuing bonds
Jul 08,2016

Reliance Industries (RIL) will be watched. Reliance Jio Infocomm (RJIL), a subsidiary of RIL, yesterday, 7 July 2016, issued Rs 2000 crore of 5 year Non-Convertible Debentures (NCDs), bearing a coupon of 8.32% per annum, payable annually. The issue has been assigned a rating of AAA by CRISIL and CRA. The proceeds of the issuance shall be utilized by RJIL for rolling out a digital services business in India. The announcement was made after market hours yesterday, 7 July 2016.n++

The transaction was fully subscribed within minutes of opening and was eventually over-subscribed with a total book size in excess of Rs 3500 crore, Reliance Jio said. Key investors include the prominent asset management companies and banks. Reliance Jio Infocomm is the first telecom operator to hold pan India Unified License. RJIL has created next-generation voice and broadband network which can be seamlessly upgraded even to 5G and beyond.

Bank of India said it raised Rs 1500 crore by issuing Basel-III compliant Tier II Bonds (Series-XII). The bonds have been rated as AA (+) by CRISIL and AA (+) by Brickwork and bear coupon rate of 8.57% per annum. The announcement was made after market hours yesterday, 7 July 2016.n++

Mahindra Holidays & Resorts said that its step-down subsidiary, Holiday Club Resorts Oy, Finland, has signed a joint venture (JV) agreement with City of Kuusamo for establishment of Tropiikin Rantasauna Oy. Holiday Club Resorts will hold 50% stake in Tropiikin. Shares worth 62500 euros will be acquired at the time of formation of Tropiikin, Mahindra Holidays & Resorts said. The announcement was made after market hours yesterday, 7 July 2016.n++

In a separate announcement after market hours yesterday, 7 July 2016, Mahindra Holidays & Resorts India said that Caribia Service Oy, Finland (Caribia), subsidiary of Holiday Club Resorts Oy, Finland, (HCR), a step-down subsidiary of the company, has been liquidated with effect from 4 July 2016. Consequently, Caribia ceased to be a subsidiary of HCR. In turn of the company and all the assets lying in its books were transferred to HCR being the sole shareholder of Caribia.

Sundaram Multi Pap said that its board has approved raising up to Rs 30 crore by issuing share warrants to the promoter and promoter group and by issuing fully paid up equity shares or issuing debentures by qualified institutional placements (QIP)/preferential issue. The announcement was made after market hours yesterday, 7 July 2016.n++

Indo Count Industriesn++announced that Indo Count Global, Inc, US announced a new licensing partnership with Walker Greenback PLC UK for three of its lifestyle brands viz. Sanderson, Harlequin and Scion. All three brands hava a particularly strong presence in UK and Australia and Indo Count said it recognized a gap in the North American market for this type of aesthetic. Indo Count said it will be launching new ranges for all three lifestyle brands this September during New York Home Textile Market Week. Indo Count added that it is targeting major retailers in the US market for all the three brands. The announcement was made after market hours yesterday, 7 July 2016.n++

Shares of Abbott India turn ex-dividend today, 8 July 2016, for final dividend of Rs 35 per share for the year ended 31 March 2016.

Shares of Cairn India turn ex-dividend today, 8 July 2016, for final dividend of Rs 3 per share for the year ended 31 March 2016.

Shares of Dewan Housing Finance Corporation turn ex-dividend today, 8 July 2016, for final dividend of Rs 2 per share for the year ended 31 March 2016.

Shares of MindTree turn ex-dividend today, 8 July 2016, for final dividend of Rs 3 per share for the year ended 31 March 2016.

Shares of Tata Coffee turn ex-dividend today, 8 July 2016, for dividend of Rs 1.30 per share for the year ended 31 March 2016.

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NBCC (India) in focus after winning orders
Jul 07,2016

NBCC (India) announced that it has secured a total business of about Rs 587.47 crore in June 2016. The announcement was made after market hours on Tuesday, 5 July 2016.

Tata Power Company announced that a meeting of its board of directors is scheduled on 11 July 2016, inter-alia to consider issuing non-convertible debentures on private placement basis, within the limits approved by the shareholders of the company. The announcement was made on Wednesday, 6 July 2016.

Shares of Axis Bank turn ex-dividend today, 7 July 2016, for dividend of Rs 5 per share for the year ended 31 March 2016. Before turning ex-dividend, the stock offered a dividend yield of 0.91% based on its closing price of Rs 543.90 on the BSE on Tuesday, 5 July 2016.

Shares of Swaraj Engines turn ex-dividend today, 7 July 2016, for total dividend of Rs 33 per share for the year ended 31 March 2016. This includes a special dividend of Rs 18 per share. Before turning ex-dividend, the stock offered a dividend yield of 2.66% based on its closing price of Rs 1,238.65 on the BSE on Tuesday, 5 July 2016.

Shares of Reliance Industries (RIL) will be in focus. GenNext Hub accelerated startup Dont Scratch Your Head (DSYH), a SaaS-based logistics reconciliation platform for e-commerce channels, has raised $250,000 funding from Venture Catalysts (VCats). GenNext Hub is a part of the four-month Scalerator Program backed by RIL and powered by Microsoft Accelerator India. GenNext Hub helps high-growth startups scale up fast through mentoring, funding, the RIL-Microsoft connect, and other resources. The announcement was made yesterday, 6 July 2016, when stock markets were closed for a public holiday.

Bank stocks will be in focus after the government finalized interest subvention scheme for farmers for the year 2016-17. The government will provide interest subvention of 5% per annum to all farmers for short term crop loan upto one year for loan upto Rs 3 lakh borrowed by them during the year 2016-17. In case farmers do not repay the short term crop loan in time, they would be eligible for lower interest subvention of 2% as against 5%. The government has approved interest subvention of 2% to farmers for loans upto 6 months for the post-harvest storage of farm produce. To provide relief to the farmers affected by natural calamities, interest subvention of 2% will be provided to banks for the first year on the restructured amount. The announcement hit the market after trading hours on Tuesday, 5 July 2016.

Telecom stocks will be in focus after the Narendra Modi government at the centre appointed Manoj Sinha as new Minister of Communications with independent charge in place of Ravi Shankar Prasad after splitting the Communications and Electronics & Information Technology ministry. Prasad continues to remain the minister of Electronics & Information Technology. After inducting 19 new Ministers of State, the Modi government on Tuesday, 5 July 2016, also announced a reshuffle of portfolios among the members of the Union Council of Ministers in a late night surprise announcement.

Shares of companies involved in the education sector will be in focus after Prakash Javadekar was made the new Human Resource Development minister in place of Smriti Irani. Irani has been made the new textiles minister.

Stocks of mining companies will be in focus after Piyush Goyal was given additional charge of the mines ministry (Independent Charge). The reshuffle of the portfolios has seen Chaudhary Birender Singh getting the steel ministry. Narendra Singh Tomar was earlier holding both mines and steel ministry portfolios.

Equitas Holdings will be watched. The Reserve Bank of India (RBI) has curbed foreign portfolio investors to buy shares in Equitas Holdings as foreign shareholding has reached prescribed limit.

RBI notified on Tuesday, 5 July 2016, that the aggregate foreign shareholding through American Depository Receipts (ADR)/ Global Depository Receipts (GDR)/ Foreign institutional Investors (FIIs)/ Registered Foreign Portfolios Investors (RFPIs)/ Foreign Direct Investment (FDI)/ Non-Resident Indians (NRI)/ Persons of Indian Origin (PIOs) in Equitas Holding has reached the trigger limit. Hence, further purchases of equity shares of this company would be allowed only after obtaining prior approval of RBI.

HCL Infosystems announced yesterday, 6 July 2016, that India Ratings and Research (Ind-Ra) has revised its long-term issuer rating of the company from IND A to IND A-. The outlook is stable.

Vakrangee announced corporate agency tie up with Religare Health Insurance Company (Religare) to distribute health insurance product through Vakrangee distribution network. Vakrangee said that citizens, especially in un-served and undeserved areas shall be able to access health insurance products and services offered/to be offered by Religare. The announcement was made after market hours on Tuesday, 5 July 2016.

Gujarat Industries Power Company (GIPCL) announced yesterday, 6 July 2016, that Solar Energy Corporation of India (SECI) has issued two letters of intent (LOIs) to GIPCL for 2x40 megawatts (MW) solar power project in Gujarat Solar Park, Village Charanka under National Solar Mission Phase-II, Batch IV.

3i Infotech announced yesterday, 6 July 2016, that the foreign currency convertible bond (FCCB) committee of the board approved issuing new FCCBs in exchange for two separate sets of existing FCCBs.

The FCCB committee approved issuing FCCBs of up to $52 million to the existing bondholders of the company, in exchange for the existing FCCB of $125.35 million, 5%, convertible bonds due 2017 (the 5% bonds) and $2.43 million, 4.75%, convertible bonds due 2017 (the 4.75% bonds, and together with the 5% bonds, the existing bonds). The board also approved amendment to the terms of the existing bonds.

The new bonds will be listed on Singapore Exchange Securities Trading. The FCCB issue opened on 5 July 2016. The floor price for the conversion of the bonds shall carry face value of Rs 10. The company has also issued notices to convene a meeting of the holders of the existing bonds on 27 July 2016 for approving the aforesaid amendments to the terms of the existing bonds.

Fiem Industries announced that it has received letter of intent for design, manufacture and supply of self-ballasted 9-watt LED bulbs with 3-year warranty from Energy Efficiency Services (EESL). The order is for 22.14 lakh LED bulbs. The order value is Rs 12.31 crore. The supply period is one month. The announcement was made after market hours on Tuesday, 5 July 2016.

PC Jeweller announced the opening of its new jewellery showroom in Bhubaneswar, Odisha. The new showroom is spread across a total area of 6,400 square feet. With the latest addition, the company now has 63 showrooms in 52 cities in India. The announcement was made after market hours on Tuesday, 5 July 2016.

Somany Ceramics announced that it has issued commercial paper of Rs 25 crore dated 5 July 2016, having maturity on 28 September 2016. The issuance of commercial paper is to reduce high interest bearing cash credit limits and in turn reducing cost of borrowing, Somany said. The announcement was made after market hours on Tuesday, 5 July 2016.

Skipper announced yesterday, 6 July 2016 that it has further expanded its international business by bagging new orders worth about Rs 100 crore in the countries of Kenya, Cameroon, Congo, Ghana & Malaysia as well as in the domestic market. These orders are for supply of transmission & sub-station towers, distribution poles and steel angles. The company has further received approval from Power Grid Corporation of India (PGCIL) for its poles division.

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UltraTech Cement, Jaiprakash Associates in spotlight after Jaypee Cement deal
Jul 05,2016

Shares of Ultra Tech Cement (UTCL) and Jaiprakash Associates (JAL) will be watched. The board of directors of JAL approved an amendment to the definitive agreement dated 31 March 2016 and also the draft scheme of arrangement with UTCL for sale of cement business of JAL and its wholly-owned subsidiary, Jaypee Cement Corporation (JCCL) comprising identified operating cement plants with an aggregate capacity of 17.20 MTPA spread over the states of Uttar Pradesh, Madhya Pradesh, Himachal Pradesh, Uttarakhand and Andhra Pradesh besides a grinding unit of 4 MTPA capacity which is currently under implementation in Uttar Pradesh. The total enterprise value now agreed is Rs 16189 crore. An additional amount of Rs 470 crore shall be paid by UTCL for completion of the grinding unit under implementation.

The transaction is subject to various regulatory approvals including the approval of stock exchanges, Competition Commission of India, financial institutions & banks, shareholders & creditors and sanction of the scheme of arrangement by High Courts at Mumbai and Allahabad. The consummation of transaction is expected to take 9 to 12 months.

On this occasion, Manoj Gaur, executive chairman, Jaypee Group said that the Jaypee Group is determined to reduce its overall debt through its proactive divestment initiatives to help the group tide these current turbulent times caused by economic slowdown in the country. He added that post this deal, Jaypee Group shall retain an aggregate cement manufacturing capacity of 10.60 MTPA with plants spread in the states of Madhya Pradesh, Uttar Pradesh, Andhra Pradesh and Karnataka. The group would continue to leverage expertise in the fields of engineering & construction, real estate and project execution in a committed manner.

Punjab & Sind Bank announced lending rates based on marginal cost of funds to be effective from 4 July 2016. The banks Marginal Cost of Funds based Lending Rate (MCLR) for overnight loans will be 9.2%, for one month will be 9.3% and for three months will be 9.45%. The MCLR on 6-month loans will be 9.55% and for one-year loans the rate would be 9.6%, the bank said. The announcement was made after market hours yesterday, 4 July 2016.

IDBI Bank announced lending rates based on marginal cost of funds to be effective from 1 July 2016. The banks Marginal Cost of Funds based Lending Rate (MCLR) for overnight loans will be 8.60%, for one month will be 9% and for three months will be 9.15%. The MCLR on 6-month loans will be 9.25% and for one-year loans the rate would be 9.30%, the bank said. MCLR for two-year loans would be at 9.55% and loans with three-year maturity would carry an MCLR of 9.70%, the bank said. The announcement was made after market hours yesterday, 4 July 2016.

IFCI said it sold 2.25 lakh shares in National Stock Exchange of India (NSE) at Rs 3,950 a share. IFCI has, however, put on hold selling its remaining 3.05% stake in NSE. The announcement was made after market hours yesterday, 4 July 2016.

Grasim Industries said that the operations have resumed at its staple fibre plant at Nagda in Madhya Pradesh in a phased manner with immediate effect. The company had suspended production at the plant since 5 June 2016 due to water shortage. However, with the onset of monsoon, the availability of water has improved. The announcement was made after market hours yesterday, 4 July 2016.

Diesel car makers like Mahindra & Mahindra and Tata Motors will be watched. The Supreme Court yesterday, 4 July 2016, reportedly reserved its order on the petition seeking modification in the apex court order banning registration of diesel vehicles of 2000 cc and above in the NCR. During the hearing, the centre told the apex court it is ready to conduct a multipronged study on diesel vehicles effect on environment and possibility of imposition of green cess. Asserting that it favoured removal of ban on registration of diesel vehicles above 2000 cc, the centre sought six weeks time for study and said that any cess should be decided by them. According to reports, the apex court on Friday, 1 July 2016, said that it might consider lifting the ban if a one-time environment compensation cess is introduced. The Supreme Court had on 16 December 2015 put a ban on diesel cars with cylinder displacement over 2000cc in Delhi NCR in a bid to curb pollution in the region. The major automobile manufacturers had moved the court to modify the order.

Fertiliser stocks will be in focus. The retail prices of non-urea fertilisers including Di-ammonium Phosphate (DAP) have been slashed by up to Rs 5,000 a tonne, Union Minister Ananth Kumar said in a press conference held yesterday, 4 July 2016. The state-run fertiliser firms Rashtriya Chemicals and Fertilizers (RCF) and National Fertilizers (NFL) have agreed to reduce the price of non-urea fertilisers, Kumar said. The retail price of DAP has been cut by Rs 2,500 a tonne, Muriate of Potash (MoP) by Rs 5,000 a tonne. For a bag of 50 kg, the effective rate for DAP would come down by Rs 125 and MoP by Rs 250. The rate cut, which would be effective immediately, would entail a benefit of Rs 4,500 crore to farmers, he said, adding the move would help promote balanced use of fertiliser.

Shares of Pokarna, Mold-Tek Technologies and Compuage Infocom will list on the National Stock Exchange of India (NSE) on 7 July 2016.

Bhushan Steel announced after market hours yesterday, 4 July 2016, that for the purpose of capacity addition from 4 million tons to 5 million tons per annum of hot strip mill of the company situated at Orissa, the company is taking shut down of said mill for about 20 days.

Techno Electric & Engineering Company said its board will meet on 14 July 2016, to consider issue of bonus shares. The announcement was made after market hours yesterday, 4 July 2016.

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Select auto stocks in focus after monthly sales disclosures
Jul 04,2016

Hero MotoCorp said its motorcycle sales rose 1.32% to 5.49 lakh units in June 2016 over June 2015. The company said it reported sales growth of 6.07% to 17.45 lakh units in Q1 June 2016 over Q1 June 2015 in spite of subdued rural demand. The company said it will soon introduce Splendor iSmart 110 motorcycle in the market - the first motorcycle to have been completely developed by the in-house research and development (R&D) team at Hero MotoCorp. The company further added that with the implementation of the 7th Pay Commission and the forecast of the above-average monsoon, it is optimistic about a pick-up in sales momentum. The announcement was made after market hours on Friday, 1 July 2016.

Tata Motors said that its total passenger and commercial (including exports) rose 8% to 44,276 vehicles in June 2016 over June 2015. Domestic sales of Tata commercial and passenger vehicles rose 8% to 38,673 units in June 2016 over June 2015. Passenger vehicles sales in the domestic market grew 22% to 12,509 units in June 2016 over June 2015. Sales of passenger cars rose by 37% to 11,705 units in June 2016 over June 2015, as Tata Motors hatchback sales grew by over a 100% at 7,126 units in June 2016, due to strong demand for the recently launched Tiago.

Sales of Tata Motors Light Commercial Vehicles (LCVs) rose 14% to 16,017 units in June 2016 over June 2015. Medium & Heavy Commercial Vehicles (M&HCV) sales fell 11% to 10,147 units in June 2016 over June 2015. The overall commercial vehicles sales in the domestic market rose 2% to 26,164 units in June 2016 over June 2015. The companys sales from exports rose 11% to 5,603 units in June 2016 over June 2015. The announcement was made after market hours on Friday, 1 July 2016.

TVS Motor Company said its total sales rose 11% to 2.47 lakh units in June 2016 over June 2015. Total two-wheeler sales rose 13.8% to 2.39 lakh units in June 2016 over June 2015. Domestic two-wheeler sales rose 16.4% to 2.06 lakh units in June 2016 over June 2015. Scooter sales rose 10.3% to 67,539 lakh units in June 2016 over June 2015. Motorcycle sales rose 7.6% to 95,465 lakh units in June 2016 over June 2015. Three-wheeler sales fell 35.77% to 7,128 lakh units in June 2016 over June 2015. Total exports fell 9.09% to 39,112 lakh units in June 2016 over June 2015. Three-wheeler exports fell 0.18% to 33,173 lakh units in June 2016 over June 2015.

Coal India and its subsidiaries achieved 99% of targeted production at 42.72 million tonnes in June 2016. The company achieved 95% of targeted offtake at 44.96 million tonnes in June 2016. The announcement was made after market hours on Friday, 1 July 2016.

Shares of State Bank of India (SBI) and Reliance Industries (RIL) will be watched. SBI and RIL signed shareholders agreement on 30 June 2016 for setting up payments bank. The subscription and shareholders agreement was signed by RIL as promoter with a 70% equity contribution and SBI as joint venture partner with 30% equity contribution on 30 June 2016. All requisite regulatory and statutory approvals will now be sought for operationalizing the payments bank. The announcement was made after market hours on Friday, 1 July 2016.

Bosch announced after market hours on Friday, 1 July 2016, that its board has approved buyback of 8.78 lakh fully paid up equity shares, or 2.796% equity, of the company at Rs 23,000 per share. The buyback offer aggregates to Rs 2019.76 crore, representing 24.99% of the paid-up share capital and free reserves. The buyback is subject to approval of the shareholders through a postal ballot process. The board has noted the intention of Robert Bosch GmbH, promoter of the company, to participate in the buyback.

Adani Ports and Special Economic Zone (APSEZ) announced on Saturday, 2 July 2016, that its board has accorded an in-principle approval for exploring the acquisition of TM Harbour Services. TM Harbour Services is engaged solely in providing tug services to The Dhamra Port Company (DPCL), a wholly owned subsidiary of APSEZ. The acquisition will help the company provide effective and efficient marine services to DPCL. The acquisition is subject to due diligence, final negotiations between the parties and obtaining of requisite regulatory approvals.

Wockhardt said it has given corporate guarantee to secure term loan of $250 million facility availed by Wockhardt Bio AG, a subsidiary of the company. The announcement was made after market hours on Friday, 1 July 2016.

Indian Hotels Company said that Samsara Properties, the companys indirect overseas wholly-owned subsidiary, has sold 51.75 lakh class A common shares of the face value of $0.01 each of Belmond, representing 5.1% of the total outstanding class A common shares for a net consideration of $49.57 million. The sale proceeds are being utilized largely for retirement of debt. Post the above sale, Samsara Properties continues to hold 0.44% of the class A common shares of Belmond. The announcement was made after market hours on Friday, 1 July 2016.

Jaiprakash Associates announced on Saturday, 2 June 2016, that the joint lenders forum meeting held to review the progress made so far on the corrective action plan, approved by the lenders in January 2015, has agreed for invocation of strategic debt restructuring (SDR) taking 28 June 2016 as reference date, subject to approval of lenders. Further, the company has informed that a meeting of the board of directors of the company is scheduled on 4 July 2016, to review the progress of the divestment plans and other related matters.

Jubilant Industries said that considering the unfavourable market conditions, the management of the companys material unlisted subsidiary, Jubilant Agri and Consumer Products, has decided to temporarily discontinue the operations of its manufacturing facility located at Rajasthan with immediate effect till further intimation. The facility was engaged in the production of single super phosphate.

The revenue contributed by this manufacturing facility for the financial year ended 31 March 2016 was Rs 4.01 crore and its networth as on 31 March 2016 was Rs 50.43 crore, constituting 0.66% of the companys consolidated revenue and 22.22% of the companys consolidated net worth. The announcement was made after market hours on Friday, 1 July 2016.

Camlin Fine Sciences said that the qualified institutional placement (QIP) committee of the company has approved the closure of the QIP on 1 July 2016. The committee approved the issue price of Rs 85.40 per share, which is at a discount of Rs 4.49 per share, to the floor price of Rs 89.89 per share, for the equity shares to be allotted to eligible qualified institutional buyers pursuant to the QIP issue. The announcement was made after market hours on Friday, 1 July 2016.

Mahanagar Telephone Nigam (MTNL) said it has received income tax refund worth Rs 112.95 crore for the assessment year 2000-2001. The amount includes Rs 52.35 crore towards interest on refund. The announcement was made after market hours on Friday, 1 July 2016.

Snowman Logistics clarified after market hours on Friday, 1 July 2016, that investment in its proposed project at Krishnapatnam be approximately Rs 17 crore, which will be financed through internal accruals.

Earlier on 22 June 2016, the company had informed that it was setting up a new facility at the Gateway Distriparks Logistics Park in Krishnapatnam which will have a capacity of 3,500 pallets of temperature controlled and dry warehousing. This facility can be further scaled up to 10,000 pallets in a phased manner within the next two years. The location is 7 kms from Krishnapatnam port, which currently services the requirements of Southern and Central Andhra Pradesh such as the newly developed Sri City industrial region, Eastern Karnataka, Northern Tamil Nadu and Eastern Maharashtra. The facility is scheduled to become operational by March 2017 and will cater to the EXIM trade including sea-food, meat, dairy products, pharmaceutical products, fruits and fruit pulp, the company added.

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Mahanagar Gas in focus on debut
Jul 01,2016

Shares of Mahanagar Gas will debut on the bourses today, 1 July 2016. The initial public offer (IPO) of city gas distribution firm Mahanagar Gas received bids for a total of 111.95 crore shares and its IPO was subscribed 64.55 times. The shares were allotted to the investors at Rs 421 per share, the top end of the Rs 380 to Rs 421 per share price band for the IPO. The IPO had opened for bidding on 21 June 2016 and closed on 23 June 2016.

Auto stocks will be in focus as these companies announce monthly sales volume data for June 2016.

Maruti Suzuki India (MSIL) announced after market hours yesterday, 30 June 2016, that it signed a memorandum of understanding (MoU)) with Government of Andhra Pradesh, to set up, manage and run Institute of Driving Training and Traffic Research at Venkatachalam village in Darsi, Prakasham district of the state.

The infrastructure spread across 20 acres of land will be provided by the Andhra Pradesh Government, while Maruti Suzuki will run and manage the institute. The facility to be built as per the MoRTH guidelines shall consist of an institute building, a hostel and training tracks will all required formation. The infrastructure is expected to be complete by 2018.Set up under the public-private-partnership (PPP) model, this will be Maruti Suzukis first IDTR in South India. Maruti Suzuki will undertake the training on lines of the other IDTRs including All Gujarat Institute of Driving, Technical Training and Research (AGIDTTR), Vadodara. The Company plans to collaborate with the various government departments like Tribal Development Department to promote road safety and driving as an employment opportunity among the tribal youth of Andhra Pradesh. The main focus is to make people employable hence additional training in personality, hygiene, courtesy and communication is imparted to the youth.

Boschs board of directors meet today, 1 July 2016, to consider a proposal for buyback of the companys equity shares.

Shares of public sector oil marketing companies (PSU OMCs) will be in focus after announcing a decrease in petrol and diesel prices. Indian Oil Corporation (IOCL) yesterday, 30 June 2016, announced a decrease in the price of petrol and diesel with effect from the midnight of 30 June/1 July 2016. Petrol price was decreased by Rs 0.89 per litre and diesel price was decreased by Rs 0.49 a litre at Delhi (including state levies) with corresponding price revision in other states. After the latest revision, petrol in Delhi costs Rs 64.76 per litre and diesel costs Rs 54.70 a litre.

Aviaition stocks will be in focus as aviation turbine fuel (ATF) prices were hiked by 5.47% to 49,287.18 per kiloliter in Delhi for domestic airlines from midnight of 30 June 2016 and 1 July 2016, IOCL said

Godrej Properties will be in focus. The company had earlier anounced about creation of Godrej Fund Management and its managed fund Godrej Residential Investment Program II (GRIP-II). The company announced after market hours yesterday, 30 June 2016, that GRIP II has made its first investment under the platform, whereby it has acquired 80% of the equity share capital in Godrej Greenview Housing (GGHPL), towards investing into the project Vihang, Thane. Pursuant to the above, GGHPL has ceased to be the subsidiary of Godrej Properties.

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Coal India in focus after signing agreement with Solar Energy Corporation
Jun 30,2016

Coal India announced signing two agreements with Solar Energy Corporation of India for implementation of solar power project in Madhya Pradesh. Coal India and Solar Energy Corporation of India (SECI) signed two agreements yesterday, 28 June 2016, for implementation of 200 megawatts (MW) solar power projects in Madhya Pradesh for the beneficial utilisation of solar power by Northern Coalfields (NCL) 100 and South Eastern Coalfields (SECL) at an estimated cost of Rs 650 crore. NCL and SECL are subsidiaries of Coal India. The announcement was made after market hours yesterday, 29 June 2016.

Metal and mining stocks will be in focus after the Union Cabinet yesterday, 29 June 2016, approved the National Mineral Exploration Policy (NMEP). The NMEP primarily aims at accelerating the exploration activity in the country through enhanced participation of the private sector.

Minda Industries board of directors considered and approved a 2-for-1 stock split and the acquisition of Panasonic Minda Storage Batteries India. The announcement was made after market hours yesterday, 29 June 2016.

Majesco and iSign Solutions Inc. (iSIGN) announced that iSIGN has joined Majescos partner ecosystem. Through this strategic partnership, Majesco will use iSIGNs electronic signature solution to deliver Majescos solutions to its insurance customers enhancing their digital footprint. The announcement was made after market hours yesterday, 29 June 2016.

LT Foods said that the company has incorporated a subsidiary named as LT Foods International in United Kingdom for strengthening its presence in Europe. Further, the company is evaluating the option to set up a facility in Europe to more effectively service customers in International markets. The announcement was made after market hours yesterday, 29 June 2016.

Gati Kausar, the temperature controlled supply chain solutions vertical of Gati, announced the launch of its first temperature controlled warehousing facility near Delhi, on National Highway 8. It is a state-of-the-art facility developed with superior technology and high quality design elements. The new facility is spread over 4 acres, and currently has a capacity of more than 5000 pallets. The announcement was made after market hours yesterday, 29 June 2016.

Sagar Cements said that the companys board of directors gave its in principle approval for acquisition of entire assets in the grinding unit of 1.81 lakh tons per annum capacity in Bayyavaram, Andhra Pradesh, owned by Toshali Cements for around Rs 60 crore. The acquisition will enable Sagar Cements to save its logistics cost and to introduce slag cement to cater markets in Visakhapatnam, Vizianagaram, Srikakulam and parts of Orissa.

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Bosch in focus as board to consider share buyback
Jun 29,2016

Bosch said that a meeting of the board of directors of the company will be held on 1 July 2016, to consider a proposal for buyback of the companys equity shares. The announcement was made after market hours yesterday, 28 June 2016.

Shares of HDFC Bank turn ex-dividend today, 29 June 2016 for dividend of Rs 9.50 per share for the year ended 31 March 2016.

L&T announced before market hours today, 29 June 2016 that the Red Herring Prospectus filed by the companys subsidiary L&T Infotech with the Registrar of Companies, Maharashtra, for an offer for sale (OFS) of shares by L&T has been approved on 28 June 2016. The offer of L&T Infotech will open for subscription on 11 July 2016 and close on 13 July 2016.

Dabur India turns ex-dividend today, 29 June 2016, for final dividend of Rs 1 per share for the year ended 31 March 2016.

Havells India turns ex-dividend today, 29 June 2016, for final dividend of Rs 3 per share for the year ended 31 March 2016.

Kesar Terminals & Infrastructure said that a meeting of the board of directors of the company will be held on 1 July 2016, inter alia, to consider sub-division of equity shares of the company. The announcement was made after market hours yesterday, 28 June 2016.

Indo Borax & Chemicals said that the company will restart production activity from Pithampur plant from 29 June 2016, with an alternative arrangement of water supply. The announcement was made after market hours yesterday, 28 June 2016.

Great Eastern Shipping Company announced after market hours yesterday, 28 June 2016, that it has bought back and extinguished 100 secured and 550 unsecured debentures of Rs 10 lakh each, aggregating to Rs 65 crore.

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Interest rate sensitive stocks in focus as finance ministry announces initiating process to constitute MPC
Jun 28,2016

Interest rate sensitive banking, automobile and real estate stocks will be in focus after the finance ministry announced that it has initiated the process to constitute Monetary Policy Committee (MPC) under the Reserve Bank of India Act, 1934. Out of the six members of MPC, three members will be from the Reserve Bank of India (RBI), including the RBI Governor, who will be the ex-officio Chairperson of the MPC, the Deputy Governor, RBI and one officer of RBI. The other three members of MPC will be appointed by the central government on the recommendations of a Search-cum-Selection Committee, which will be headed by the Cabinet Secretary. These three members of MPC will be experts in the field of economics or banking or finance or monetary policy and will be appointed for a period of 4 years and will not be eligible for re-appointment. The meetings of the MPC will be held at least 4 times a year and the MPC will publicise its decisions after each meeting. A committee-based approach will add a lot of value and transparency to monetary policy decisions, the finance ministry said in a statement issued after trading hours yesterday, 27 June 2016.

Siemens announced that it has won an order worth approximately Rs 570 crore to supply Static Synchronous Compensator (STATCOM) solutions to Power Grid Corporation of India (PGCIL). The scope of the order includes design, engineering, supply, civil, installation, testing and commissioning of STATCOMs at four substation locations of PGCIL: Ranchi, Rourkela, Kishenganj and Jeypore across the states of Bihar, Jharkhand and Odisha. The announcement was made after market hours yesterday, 27 June 2016.

Bharti Infratel said that the companys proposed buyback of 4.70 crore shares at Rs 425 per share under tender offer route would commence on 12 July 2016 and close on 25 July 2016. The announcement was made before market hours today, 28 June 2016.

Shares of Tata Communications will be in focus. Liquid Telecom, a privately owned, pan-African telecoms group, majority owned by Econet Wireless Global, today, 28 June 2016 announced that it has entered into an agreement to acquire South African communications network operator Neotel. The shareholders of Neotel - Tata Communications of India and minority shareholders led by Nexus Connexion - have agreed for Liquid Telecom to acquire Neotel for ZAR6.55 billion. Liquid Telecom is partnering with Royal Bafokeng Holdings (RBH), a South African empowerment investment group, which has committed to take a 30% equity stake in Neotel. The transaction, which is subject to obtaining all affirmative approvals and other corporate approvals that may be required by the shareholders of Neotel and other regulatory approvals, is transformative and will create the largest pan-African broadband network and B2B telecoms provider. The announcement was made before market hours today, 28 June 2016.

Indiabulls Housing Finance said that the company proposes to issue 6250 Secured Non-Convertible Redeemable Debentures with a face value of Rs 10 lakh each aggregating to Rs 625 crore (plus greenshoe option), on private placement basis, pursuant to special resolution passed by the shareholders of the Company at the 10th Annual General Meeting held on 7 September 2015, on the terms and conditions. The announcement was made before market hours today, 28 June 2016.

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Bharti Airtel in focus after extending further merger agreement with Axiata
Jun 27,2016

Bharti Airtel said that the company and Axiata Group Berhad (Axiata), have on Friday, 24 June 2016 agreed to further extend an earlier agreement until 26 September 2016 or such other date as the parties may agree. The announcement was made after market hours on Friday, 24 June 2016.

It may be recalled that Bharti Airtel and Axiata Group Berhad had on 28 January 2016 signed a definitive agreement to merge their respective telecommunication subsidiaries in Bangladesh; namely, Airtel Bangladesh (Airtel) and Robi Axiata (Robi). The agreement follows the 9 September 2015 announcement of both parties entering into an exclusive discussion to explore possibility of combining the business operations in Bangladesh.

Post-merger, the combined entity operating as Robi will serve approximately 4 crore customers. The joint strengths of Robi and Airtel will deliver the widest mobile network coverage across Bangladesh, strengthening its position in the mobile internet segment as well as consolidating its position as the second largest operator in the country, Airtel and Axiata said in a joint press release on 28 January 2016. The proposed transaction is subject to conditions precedent including receiving applicable approvals from relevant authorities and is expected to complete in the first half of 2016, the two companies had said. Upon completion, Axiata will hold 68.3% controlling stake in the combined entity, while Bharti will hold 25%. The remaining 6.7% will be held by the existing shareholder, NTT DOCOMO of Japan, they added.

Bajaj Finserv is reportedly likely to buy out its German partner Allianz SEs stakes in two insurance units Bajaj Allianz Life Insurance Company and Bajaj Allianz General Insurance in a deal estimated at as much as Rs 10000 crore. Bajaj Finserv, the financial services arm of Bajaj Holdings and Investments, owns 74% and Allianz SE holds 26% in both the ventures, as per reports.

Aban Offshore said that its step down subsidiary has received a firm letter of award from ONGC for the deployment of the drillship Aban Abraham for a firm period of 2 years. The expected revenues from this deployment is estimated at $87 million (equivalent to Rs 592 crore). The deployment is expected to commence during the fourth quarter of calendar year 2016. The announcement was made after market hours on Friday, 24 June 2016.

Tata Sponge Iron said that the company is in receipt of Letter of Intent (LOI) from Eastern Coalfields (a subsidiary of Coal India) declaring the company as a successful bidder for award of 24,000 tonne per annum of coal at a notified price (winning premium is zero). The notified price shall be reviewed by Coal India on a half yearly basis. As per the LOI, the company would be required to execute the fuel supply agreement, valid for a period of five years from the date of execution of the agreement and is further extendable for another five years. The agreement shall have a lock-in period of two years. The tonnage will constitute less than 10% of the companys annual coal requirement. The announcement was made after market hours on Friday, 24 June 2016.

Indian Overseas Bank said that the credit rating agency ICRA has revised its ratings for upper tier -II and Basel II compliant perpetual bond issues. The revision in the ratings assigned to the bonds is due to continued deterioration in asset quality indicators over the recent past, which adversely impacted the solvency and capitalisation profile of the bank. The announcement was made after market hours on Friday, 24 June 2016.

Patel Engineering said that a meeting of the board of directors of the company will be held on 29 June 2016, to consider and approve conversion of debt into equity pursuant to strategic debt restructuring scheme devised by the Reserve Bank of India {the RBI). The announcement was made after market hours on Friday, 24 June 2016.

Zuari Agro Chemicals said that the company has availed an unsecured inter corporate deposit (ICD) of Rs 100 crore from Adventz Finance, a promoter of the company, for a period of 12 months. The announcement was made after market hours on Friday, 24 June 2016.

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Sun Pharma may gain after announcing buyback of shares
Jun 24,2016

Sun Pharmaceutical Industries announced after market hours yesterday, 23 June 2016, that its board approved buyback of the companys equity shares. The company will buyback 75 lakh shares from the public at a price of Rs 900 each. The buyback price is 19.73% above the companys last traded price of Rs.751.70 on the BSE. The company said that the buyback aims to return surplus funds to shareholders and enhance overall returns for them. The record date for the buyback is 15 July 2016. Under Securities and Exchange Board of India (Sebi) guidelines, 15% of the buyback offer is reserved for small investors holding shares worth not more than Rs 2 lakh as on the record date.

State Bank of India (SBI) announced after market hours yesterday, 23 June 2016, that a meeting of the executive committee of the central board of the bank is scheduled to be held on 29 June 2016 at Mumbai. The committee will examine the status and decide on long term fund raising in single/multiple tranches up to $1500 million through a public offer and/or private placement of senior unsecured notes in US Dollar or any other convertible currency during the financial year 2016-2017.

Sector specific action could be witnessed after early results of Brexit referendum showed that the Britain is on its course to leave the European Union. IT, auto and steel sector could witness selling pressure as they derive good amount of revenue from the European Union.

Glenmark Pharmaceuticals announced before market hours today, 24 June 2016 that it has received tentative ANDA approval from the USFDA for Olmesartan Medoxomil Tablets, 5 mg, 20 mg and 40 mg.

Separately, Glenmark Pharmaceuticals announced it has received ANDA approval from the USFDA for Nystatin and Triamcinolone Acetonide Ointment USP, 100,000 units/1 mg per gram.

Omax Autos said that railway division of the company has secured order for supply of railway parts from Indian Railways for order value estimated between Rs 90-100 crore. Formal purchase order would be received by the company in due course of time, Omax Autos said. The announcement was made after market hours yesterday, 23 June 2016.

Ruchira Papers said that the credit rating of the company has been upgraded from CARE BBB- (TRIPLE B -) to CARE BBB (TRIPLE B) assigned to Long term facilities and CARE BBB/CARE A3+(TRIPLE B/ A THREE PLUS) assigned to short term facilities of the company. The announcement wasmade after market hours yesterday, 23 June 2016.

Shilpa Medicare said that a meeting of the board of directors of the company will be held on 27 June 2016, to consider a proposal of merger of Navya Boilogicals with the company. Navya Biologicals (NBPL) is a company incorporated under the Companies Act, is engaged on research and development activities in the field of biologicals. NBPL has specifically been in the development of bio-similars and product process technologies. The announcement was made after market hours yesterday, 23 June 2016.

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Bharti Airtel may gain after Orange completes acquisition of its operations in Burkina Faso
Jun 23,2016

Bharti Airtel announced before market hours today, 23 June 2016 that Orange has completed the acquisition of 100% of the operations of Airtel in Burkina Faso via its subsidiaries. The company shall update the exchange regarding the process for Sierra Leone as and when it is completed.

Lupin announced at the fag end of trading session yesterday, 22 June 2016 that it has received final approval for its Amabelz Tablets (Estradiol and Norethindrone Acetate Tablets USP, 0.5 mg/0.1 mg and 1mg/0.5 mg) from the United States Food and Drug Administration (FDA) to market a generic version of Amneal Pharmaceuticals Activella Tablets (Estradiol and Norethindrone Acetate Tablets USP, 0.5 mg/0.1 mg and 1 mg/ 0.5 mg).

Lupins Amabelz Tablets (Estradiol and Norethindrone Acetate Tablets USP, 0.5 mg/0.1 mg and 1 mg/0.5mg) are the AB rated generic equivalent of Amneal Pharmaceuticals Activella Tablets (Estradiol and Norethindrone Acetate Tablets USP, 0.5 mg/0.1 mg and 1 mg/0.5 mg). Amabelz Tablets 0.5 mg / 0.1 mg and 1 mg / 0.5 mg are indicated in a woman with a uterus for treatment of moderate to severe vasomotor symptoms due to menopause and prevention of postmenopausal osteoporosis. Amabelz Tablets 1 mg/0.5 mg is also indicated in a woman with a uterus for treatment of moderate to severe symptoms of vulvar and vaginal atrophy due to menopause. Activella had annual US sales of $95.6 million as per IMS MAT March 2016.

GAIL (India) announced after market hours yesterday, 22 June 2016 that it has placed orders for purchase of 341 kilometers (km) of Line Pipes for the Phulpur Haldia/Dhamra Natural Gas Pipeline on four companies at a total cost of Rs 550 crore.

The pipeline will serve as the Energy Highway (Urja Ganga) of Eastern India and its construction work was inaugurated by Prime Minister Shri Narendra Modi. The Line Pipes for which the orders have been placed will be used in the Phulpur (Uttar Pradesh)-Dobhi (Bihar) section of the Pipeline and will be procured from Jindal Saw Limited, MAN Industries (India) Limited, Essar Steel India Limited and Zhongyou BSS (Qinhuangdao) Petropipe Co. Ltd, China.

The 1,681 km Phulpur Haldia/Dhamra Pipeline will be completed in three phases at a cost of Rs 12000 crore and cover eastern Uttar Pradesh, Bihar, Jharkhand, Orissa and West Bengal. The first phase at a project cost of Rs 3200 crore and will cover 755 km and include Phulpur Mani, Mani Gorakhpur, Mani Varanasi, Mani Dobhi, Dobhi - Silao, Silao Patna and Silao Barauni sections. Pipeline laying works for Spurlines from Gaya Barauni Patna in Bihar are already in progress. Subsequent phases of the 16 MMSCMD Pipeline will cover major cities including Gorakhpur, Varanasi, Patna, Barauni, Bokaro, Ranchi, Rourkela, Paradip, Bhubaneshwar, Cuttack, Durgapur, Kolkata and Jamshedpur and nearby areas through 30/24 Mainline and Spurlines.

NTPC announced after market hours yesterday, 22 June 2016 that in accordance with the approval accorded by Cabinet Committee on Economic Affairs on 13 May 2015, Government of India (GOI) has offered 2.06 crore shares to the eligible employees of NTPC at discounted price of Rs 115.90 per share i.e. 5% discount to the cut off price of Rs 122 discovered through the offer for sale of shares of NTPC carried out by GOI on 23 February 2016 & 24 February 2016. In connection with the above, action has been initiated by the company for sale of equity shares to the eligible employees by the GOI. The offer for sale of share shall remain open tentatively from 27 June 2016 to 5 July 2016.

IndusInd Bank turns ex-dividend today, 23 June 2016 for dividend of Rs 4.50 per share for the year ended 31 March 2016 (FY 2016).

Textile stocks will be in focus. The Union Cabinet under the Chairmanship of Prime Minister Narendra Modi has given approval yesterday, 22 June 2016 for a special package for employment generation and promotion of exports in textile and apparel sector. The move comes in the backdrop of the package of reforms announced by the Government for generation of one crore jobs in the textile and apparel industry over next 3 years. The package includes a slew of measures which are labour friendly and would promote employment generation, economies of scale and boost exports. The steps will lead to a cumulative increase of $30 billion in exports and investment of Rs 74000 crore over next 3 years.

The majority of new jobs are likely to go to women since the garment industry employs nearly 70% women workforce. Thus, the package would help in social transformation through women empowerment.

Under the package, reforms were announced in employee provident fund scheme. Government of India shall bear the entire 12% of the employers contribution of the employers provident fund scheme for new employees of garment industry for first 3 years who are earning less than Rs 15,000 per month. At present, 8.33% of employers contribution is already being provided by Government under Pradhan Mantri Rozgar Protsahan Yojana (PMRPY). Ministry of Textiles shall provide additional 3.67% of the employers contribution amounting to Rs 1170 crore over next 3 years. EPF shall be made optional for employees earning less than Rs 15,000 per month This shall leave more money in the hands of the workers and also promote employment in the formal sector.

The government has also increased cap on overtime. This shall lead to increased earnings for the workers. Overtime hours for workers not to exceed 8 hours per week in line with ILO norms. The government has also introduced fixed term employment. Looking to the seasonal nature of the industry, fixed term employment shall be introduced for the garment sector. A fixed term workman will be considered at par with permanent workman in terms of working hours, wages, allowances and other statutory dues. The package also breaks new ground in moving from input to outcome based incentives by increasing subsidy under Amended-Technology Upgradation Fund Scheme (TUFS) from 15% to 25% for the garment sector as a boost to employment generation. A unique feature of the scheme will be to disburse the subsidy only after the expected jobs are created. Additionally, in a first of its kind move, a new scheme will be introduced to refund the state levies which were not refunded so far. This move is expected to cost the exchequer Rs 5500 crore but will greatly boost the competitiveness of Indian exports in foreign markets. Drawback at All Industries Rate to be given for domestic duty paid inputs even when fabrics are imported under Advance Authorization Scheme. Further, looking at the seasonal nature of garment industry, the provision of 240 days under Section 80JJAA of Income Tax Act would be relaxed to 150 days for garment industry.

Golden Tobacco announced after market hours yesterday, 22 June 2016 that the company has received a demand notice from office of the Tax Recovery Officer, Aayakar Bhavan, Mumbai vide letter dated 15 June 2016 for recovery of principal amount.

KEC International announced after market hours yesterday, 22 June 2016 that it has won new orders of Rs 1036 crore.

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